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I included the link to a preprint https://arxiv.org/abs/1101.4548 I don't know if they've tried to publish it. But they surely complain bitterly about how economics journals reject other papers of theirs:https://twitter.com/ole_b_peters/status/1294216181159796736 …
I am *shocked* that a physicist who claims to have a theory of everything for finance has fundamental misconceptions about how basic things like “stock indices” work.
It seems what that paper is actually saying is that the S&P500 suffers from survivorship bias if used as a proxy for a generic diversified investment in US stocks, which I think is true, given it will not have the same distribution as a basket of all tradable US stocks
Although I guess surviroship here would not be in terms of going to MC 0, but MC < threshold
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