Before revision: Recently, the authors of (\mbox{%DIFAUXCMD Ernst0pt%DIFAUXCMD ) empirically showed that over the 1958-2014 horizon, the returns of the MaxMedian S\&P 500 portfolio (see \mbox{%DIFAUXCMD thomp2}0pt%DIFAUXCMD ) substantially exceed both those of the market capitalization }  weighted S\&P 500 portfolio as well as those of the equally weighted S\&P 500 portfolio .0pt%DIFAUXCMD , \mbox{%DIFAUXCMD Uppal}0pt%DIFAUXCMD , \mbox{%DIFAUXCMD Jacobs}0pt%DIFAUXCMD , \mbox{%DIFAUXCMD Treynor}0pt%DIFAUXCMD ).
After revision: Recently, the authors of (\mbox{%DIFAUXCMD Ernst0pt%DIFAUXCMD ) empirically showed that over the 1958-2014 horizon, the returns of the MaxMedian S\&P 500 portfolio (see \mbox{%DIFAUXCMD thomp2}0pt%DIFAUXCMD ) substantially exceed both those of the market capitalization } Over the past half century, portfolio managers have carefully documented the advantages of the equally weighted S\&P 500 portfolio as well as those of the equally weighted S\&P 500 portfolio .0pt%DIFAUXCMD , \mbox{%DIFAUXCMD Uppal}0pt%DIFAUXCMD , \mbox{%DIFAUXCMD Jacobs}0pt%DIFAUXCMD , \mbox{%DIFAUXCMD Treynor}0pt%DIFAUXCMD ).