This finding was unexpected and appears counter-intuitive at first, but can be explained by reconstitution.
Reconstitution and rebalancing methodologies can become quite complex across the universe of index providers.
Their next goal could be the reconstitution of the Haitian armed forces, as the Dominicans allegedly intended.
In fact, they are a reconstitution of their functions in slightly different ways.
So ChemStation set up several small reconstitution plants, says George Homan, its president.
Part of the protection is hardening, part of the protection is redundancy, and part of the protection should be reconstitution of space capabilities .
CENTERFORSECURITYPOLICY: Space power: What is at stake, what will it take
Higher dividend growth among a value stock index relative to a growth index is a result (or benefit) of reconstitution and rebalancing rules, according to Chaves and Arnott.
Rebalancing and the Value Effect by Denis Chaves and Robert Arnott of Research Affiliates looked into how reconstitution and rebalancing within growth and value indexes contributed to the value premium.
Last month the folks who run the benchmark Russell 2000 small-cap index did their annual reconstitution--replacing 377 of the 2, 000 companies that had outgrown or become too small to fit the index.
Turns out hedge funds had placed bets even before Russell announced changes to its index, hoping to unwind those positions on the final day--or "front-running the reconstitution, " says Gus Sauter, chief investment officer at Vanguard Group.
Matters would be made worse by the likelihood that electronic devices so integral to modern life would also be damaged or destroyed, making reconstitution of the status quo ante profoundly problematic even if, somehow, power could be rapidly restored.
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