The two Nobel Prizes awarded in Economics in 1990 and 2013 define the boundaries of Modern Portfolio Theory (MPT). Size is the pillar for both the models. The 1990 winners assumed market to be driven by Market Capitalization (MCAP) size, while the 2013 winner explained that factors like ‘Small...

If Value is a statistical concept that transforms into Growth (Pal, 2016b) then the Mean Reversion Ranking Framework (Pal, 2015a) with its three bin classification Value-Core-Growth could be a new way to look at market efficiency and CAPM. The Value-Core-Growth RMI™ Indices built around the...