The Piker

Portfolio Theory Vindicated

Modern Portfolio Theory IS Harry Markowitz, so if Quantext does not use mean-variance optimization to help users allocate capital between asset classes to choose the appropriate portfolio for their risk appetite, you cannot say that QPP has "vindicated" Portfolio theory.

David's original portfolio was underweight assets that normally perform well in times of unanticipated inflation, and you were correct to add them. But still, the outperformance of the new-and-improved portfolio can most likely be attributed to the rather fortunate addition of IDU, IXC and IGE rather than Quantext.