• A Re-Examination of Performance of Optimized Portfolios 

      Bakke, Andreas Lillehagen; Nergaard, Erik Danielsen (Master thesis, 2017)
      DeMiguel, Garlappi, and Uppal (2009) conducted a study demonstrating that meanvariance optimized portfolios do not consistently outperform the naive diversi cation strategy in out-of-sample tests. This caused a heated ...