Actually, it has been accounted for in the studies. See: http://www.stlouisfed.org/on-the-economy/the-cost-of-chasing-returns/ http://www.stlouisfed.org/on-the-

Actually, it has been accounted for in the studies. See: http://www.stlouisfed.org/on-the-economy/the-cost-of-chasing-returns/ http://www.stlouisfed.org/on-the-economy/the-cost-of-chasing...