Our 300th Episode Mailbag Special, Plus the 'Godfather of Fundamental Indexing' Rob Arnott
Stansberry Investor Hour
The Monkey Throwing Darts Will Beat the S&P by 150 Basis Points a Year
Molequial in the late 60s wrote a book, The Rand Walkdown Wall Street. He suggested that a monkey throwing darts could do as good a job as the average active manager. We tested this by having a silicon chip monkey pick 30 stocks at random year by year over the last 50 years. On average, the monkey portfolio beat the S&P by 160 basis points a year. Raffi mirrors the look and composition of the publicly traded macro economy. It's an economy weighted index where cap weighting is a market weighted index.
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