[KongchangAI]
Unverified50% confidenceFactExact time

Jagannathan and Ma (2003) showed that the minimum-variance portfolio often outperforms full mean-variance optimization out of sample, and that a no-short-sale constraint has a regularization effect similar to shrinkage.

1
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50%
Confidence
Long-term
Relevance
9/11/2026
First Seen

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