If I had a nickel for every time I’ve heard someone say that market-cap weighting is a momentum strategy because investors in cap-weighted index funds “buy more of the biggest stocks as their price goes up,” I’d be writing a FIRE (Financially Independent Retire Early) lifestyle blog right now. Alas.
This argument has curb appeal. But is it right? Are investors in cap-weighted index funds just riding momentum?
Just the Market
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