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My smart beta ETF premised on cats rang up an 849,751% return

But industry strategists say the vital thing lacking is it does not have an economic foundation, theory or intuition.



I was rich. Right?

I mean, that's what my Bloomberg said. I'd just entered in an index built from companies with "cat" in their names - yes, the furry felines - hit a button and watched it back-test to an 849,751 per cent return. Forget the Internet, I thought. Cats are about to take over

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