Subject: Re: OT: S&P versus T-Bills?
I think the discussion was about QQQ vs QQQE rather than SP500 and the top 5. QQQ vs QQQE has the opposite outcome compared to SPY vs RSP. QQQ outperforms QQQE,RSP outperforms SPY

However, you mentioned the following:

1986 - 1992 (7.0 years) Top 5 underperformed by -3.7%/year, top 4 by -4.8%
1993 - 1999 (7.0 years) Top 5 underperformed by -3.5%/year, top 4 by -2.7%

Using GTR1, for the period 1993 to 1999, the SP500 plus dividends markecap weighted performed 21.5% per year. Equal weight 17.0%.

1986 to 1992 inclusive, marketcap and equal weight both averaged 14.6% per year. My guess is that stocks 6 to 10 must have been really good.

Aussi