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This is an excellent paper in that it clears away much of the superficial analysis (simply looking at past performance) that many researchers conduct in measuring the risk of a strategy. I discuss this in less detailed terms in chapter 9 of my book "Myth #9: Risk Can Be Measured Statistically" (remember, it’s a myth!). I’m pleased to provide a complimentary link to that chapter here: http://jackassinvesting.com/lookins....