1. Only 22.8% of newsletters have average returns higher than a passive portfolio of equity and cash...
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1. Only 22.8% of newsletters have average returns higher than a passive portfolio of equity and cash with the same volatility. Indeed, some recommendations are remarkably poor. For example, the (once) high pro¯le Granville Mar-
ket Letter-Traders has produced an average annual loss of 0.4% over the past 13 years. This compares to a 21.1%
average annual gain on the Standard and Poor's 500 price index.
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Related Book For
Forecasting Methods And Applications
ISBN: 9780471532330
3rd Edition
Authors: Spyros G. Makridakis, Steven C. Wheelwright, Rob J Hyndman
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