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The Effect of Market Timing on the S&P 500 Concentration
The S&P 500 concentration has been very high for a long time. It's also the fact that the equal weighted index is going to tend to outperform when concentration is decreasing. And that tends to be in the kind of market crashy environment. So you're really going to only outperform in the crashes. You're still going to have a negative return, but it's just less negative than the broad market.