[mtgordon]

[ QUOTE ]
Your strategy will give you higher risk, but not higher EV. Just invest in a diversified portfolio of indexes and weight it more heavily towards value and small cap. In fact this would likely be more +EV than purchasing individual stocks if your selections are in large cap/mid cap.

[/ QUOTE ]

By this argument wouldn't it be maximum EV to just buy value and small cap? I know it will increase volatility, etc but if you're saying that being heavier in those areas increases the overall EV then being 100% in those areas should be even more EV right?