Before revision: We investigate and extend the results of Golts and Jones (2009) that an alpha-weight angle resulting from unconstrained quadratic portfolio optimisations has an upper bound dependent on the condition number of the covariance matrix.
After revision: We investigate and extend the results of Golts and Jones (2009) that an \alpha-weight angle resulting from unconstrained quadratic portfolio optimisations has an upper bound dependent on the condition number of the covariance matrix.