Before revision: Over the past half century, portfolio managers have carefully documented the advantages of the equally weighted S\&P 500 portfolio as well as the often overlooked disadvantages of the market capitalization weighted  S\&P 500  portfolio (see Bloom, Uppal, Jacobs, Treynor).
After revision: Over the past half-century, the empirical finance community has produced vast literature on the advantages of the equally weighted S\&P 500 portfolio as well as the often overlooked disadvantages of the market capitalization weighted S\&P 500 portfolio (see Bloom, Uppal, Jacobs, Treynor).