A wealthy billionaire recently retired since his travel business was adversely affected by the COVID-19 pandemic. He wants to start a mutual fund focusing on equities. He has hired two fund managers. One of them is his son who is a graduate of the University of Adelaide and believes in market efficiency. You are the second fund manager. You are skeptical about market efficiency having read a number of academic and practitioner articles on the topic. Since your boss is not a finance person, you need to convince him regarding the investment strategies that you will use in conjunction with your colleague

In the interest of equity, your boss is thinking of allocating equal amount of the funds undermanagement to you and your colleague. Is this the correct approach? Argue your case equal or not using concepts learned in the course. What methodology should you use to come-up with the best allocation scheme?