id	sid	tid	token	lemma	pos
fsr-3710	1	1	pii	pii	PROPN
fsr-3710	1	2	:	:	PUNCT
fsr-3710	1	3	1057	1057	NUM
fsr-3710	1	4	-	-	SYM
fsr-3710	1	5	0810(92)90003	0810(92)90003	NUM
fsr-3710	1	6	-	-	PUNCT
fsr-3710	1	7	u	u	NOUN
fsr-3710	1	8	financial	financial	PROPN
fsr-3710	1	9	services	service	NOUN
fsr-3710	1	10	review	review	NOUN
fsr-3710	1	11	,	,	PUNCT
fsr-3710	1	12	2(2	2(2	NUM
fsr-3710	1	13	):	):	PUNCT
fsr-3710	1	14	73	73	NUM
fsr-3710	1	15	-	-	SYM
fsr-3710	1	16	85	85	NUM
fsr-3710	1	17	copyright	copyright	NOUN
fsr-3710	1	18	q	q	X
fsr-3710	1	19	1993	1993	NUM
fsr-3710	1	20	by	by	ADP
fsr-3710	1	21	jai	jai	PROPN
fsr-3710	1	22	press	press	PROPN
fsr-3710	1	23	inc	inc	PROPN
fsr-3710	1	24	.	.	PUNCT
fsr-3710	2	1	all	all	DET
fsr-3710	2	2	rights	right	NOUN
fsr-3710	2	3	of	of	ADP
fsr-3710	2	4	reproduction	reproduction	NOUN
fsr-3710	2	5	in	in	ADP
fsr-3710	2	6	any	any	DET
fsr-3710	2	7	fom	fom	NOUN
fsr-3710	2	8	reserved	reserve	VERB
fsr-3710	2	9	.	.	PUNCT
fsr-3710	3	1	an	an	DET
fsr-3710	3	2	index	index	NOUN
fsr-3710	3	3	of	of	ADP
fsr-3710	3	4	portfolio	portfolio	NOUN
fsr-3710	3	5	diversification	diversification	PROPN
fsr-3710	3	6	walt	walt	PROPN
fsr-3710	3	7	woerheide	woerheide	PROPN
fsr-3710	3	8	don	don	PROPN
fsr-3710	3	9	persson	persson	PROPN
fsr-3710	3	10	a	a	DET
fsr-3710	3	11	recurring	recur	VERB
fsr-3710	3	12	question	question	NOUN
fsr-3710	3	13	in	in	ADP
fsr-3710	3	14	the	the	DET
fsr-3710	3	15	literature	literature	NOUN
fsr-3710	3	16	concerning	concern	VERB
fsr-3710	3	17	diversification	diversification	NOUN
fsr-3710	3	18	is	be	AUX
fsr-3710	3	19	what	what	PRON
fsr-3710	3	20	is	be	AUX
fsr-3710	3	21	the	the	DET
fsr-3710	3	22	minimum	minimum	ADJ
fsr-3710	3	23	number	number	NOUN
fsr-3710	3	24	of	of	ADP
fsr-3710	3	25	securities	security	NOUN
fsr-3710	3	26	required	require	VERB
fsr-3710	3	27	to	to	PART
fsr-3710	3	28	achieve	achieve	VERB
fsr-3710	3	29	adequate	adequate	ADJ
fsr-3710	3	30	diversification	diversification	NOUN
fsr-3710	3	31	.	.	PUNCT
fsr-3710	4	1	the	the	DET
fsr-3710	4	2	problem	problem	NOUN
fsr-3710	4	3	is	be	AUX
fsr-3710	4	4	that	that	SCONJ
fsr-3710	4	5	studies	study	NOUN
fsr-3710	4	6	on	on	ADP
fsr-3710	4	7	this	this	DET
fsr-3710	4	8	topic	topic	NOUN
fsr-3710	4	9	assume	assume	VERB
fsr-3710	4	10	equally	equally	ADV
fsr-3710	4	11	distributed	distribute	VERB
fsr-3710	4	12	holdings	holding	NOUN
fsr-3710	4	13	.	.	PUNCT
fsr-3710	5	1	in	in	ADP
fsr-3710	5	2	reality	reality	NOUN
fsr-3710	5	3	,	,	PUNCT
fsr-3710	5	4	portfolios	portfolio	NOUN
fsr-3710	5	5	are	be	AUX
fsr-3710	5	6	not	not	PART
fsr-3710	5	7	evenly	evenly	ADV
fsr-3710	5	8	divided	divide	VERB
fsr-3710	5	9	.	.	PUNCT
fsr-3710	6	1	the	the	DET
fsr-3710	6	2	purpose	purpose	NOUN
fsr-3710	6	3	of	of	ADP
fsr-3710	6	4	this	this	DET
fsr-3710	6	5	paper	paper	NOUN
fsr-3710	6	6	is	be	AUX
fsr-3710	6	7	to	to	PART
fsr-3710	6	8	evaluate	evaluate	VERB
fsr-3710	6	9	the	the	DET
fsr-3710	6	10	ability	ability	NOUN
fsr-3710	6	11	offive	offive	ADJ
fsr-3710	6	12	different	different	ADJ
fsr-3710	6	13	measures	measure	NOUN
fsr-3710	6	14	of	of	ADP
fsr-3710	6	15	diversification	diversification	NOUN
fsr-3710	6	16	to	to	PART
fsr-3710	6	17	provide	provide	VERB
fsr-3710	6	18	meaningful	meaningful	ADJ
fsr-3710	6	19	information	information	NOUN
fsr-3710	6	20	about	about	ADP
fsr-3710	6	21	the	the	DET
fsr-3710	6	22	degree	degree	NOUN
fsr-3710	6	23	of	of	ADP
fsr-3710	6	24	diversi’cation	diversi’cation	NOUN
fsr-3710	6	25	of	of	ADP
fsr-3710	6	26	an	an	DET
fsr-3710	6	27	unevenly	unevenly	ADV
fsr-3710	6	28	distributed	distribute	VERB
fsr-3710	6	29	stock	stock	NOUN
fsr-3710	6	30	portfolio	portfolio	NOUN
fsr-3710	6	31	.	.	PUNCT
fsr-3710	7	1	the	the	DET
fsr-3710	7	2	complement	complement	NOUN
fsr-3710	7	3	of	of	ADP
fsr-3710	7	4	the	the	DET
fsr-3710	7	5	herjindahl	herjindahl	NOUN
fsr-3710	7	6	index	index	NOUN
fsr-3710	7	7	was	be	AUX
fsr-3710	7	8	found	find	VERB
fsr-3710	7	9	to	to	PART
fsr-3710	7	10	be	be	AUX
fsr-3710	7	11	the	the	DET
fsr-3710	7	12	best	good	ADJ
fsr-3710	7	13	of	of	ADP
fsr-3710	7	14	the	the	DET
fsr-3710	7	15	jive	jive	ADJ
fsr-3710	7	16	measures	measure	NOUN
fsr-3710	7	17	and	and	CCONJ
fsr-3710	7	18	its	its	PRON
fsr-3710	7	19	explanatory	explanatory	ADJ
fsr-3710	7	20	power	power	NOUN
fsr-3710	7	21	was	be	AUX
fsr-3710	7	22	deemed	deem	VERB
fsr-3710	7	23	to	to	PART
fsr-3710	7	24	be	be	AUX
fsr-3710	7	25	adequate	adequate	ADJ
fsr-3710	7	26	for	for	ADP
fsr-3710	7	27	general	general	ADJ
fsr-3710	7	28	use	use	NOUN
fsr-3710	7	29	.	.	PUNCT
fsr-3710	8	1	i.	i.	PROPN
fsr-3710	8	2	introduction	introduction	NOUN
fsr-3710	8	3	a	a	DET
fsr-3710	8	4	critical	critical	ADJ
fsr-3710	8	5	question	question	NOUN
fsr-3710	8	6	for	for	ADP
fsr-3710	8	7	any	any	DET
fsr-3710	8	8	investor	investor	NOUN
fsr-3710	8	9	is	be	AUX
fsr-3710	8	10	how	how	SCONJ
fsr-3710	8	11	many	many	ADJ
fsr-3710	8	12	securities	security	NOUN
fsr-3710	8	13	does	do	AUX
fsr-3710	8	14	one	one	NOUN
fsr-3710	8	15	have	have	VERB
fsr-3710	8	16	to	to	PART
fsr-3710	8	17	hold	hold	VERB
fsr-3710	8	18	in	in	ADP
fsr-3710	8	19	order	order	NOUN
fsr-3710	8	20	to	to	PART
fsr-3710	8	21	achieve	achieve	VERB
fsr-3710	8	22	adequate	adequate	ADJ
fsr-3710	8	23	diversification	diversification	NOUN
fsr-3710	8	24	.	.	PUNCT
fsr-3710	9	1	complete	complete	ADJ
fsr-3710	9	2	diversification	diversification	NOUN
fsr-3710	9	3	would	would	AUX
fsr-3710	9	4	be	be	AUX
fsr-3710	9	5	achieved	achieve	VERB
fsr-3710	9	6	if	if	SCONJ
fsr-3710	9	7	one	one	NUM
fsr-3710	9	8	held	hold	VERB
fsr-3710	9	9	a	a	DET
fsr-3710	9	10	share	share	NOUN
fsr-3710	9	11	of	of	ADP
fsr-3710	9	12	the	the	DET
fsr-3710	9	13	“	"	PUNCT
fsr-3710	9	14	market	market	NOUN
fsr-3710	9	15	”	"	PUNCT
fsr-3710	9	16	portfolio	portfolio	NOUN
fsr-3710	9	17	,	,	PUNCT
fsr-3710	9	18	defined	define	VERB
fsr-3710	9	19	as	as	ADP
fsr-3710	9	20	the	the	DET
fsr-3710	9	21	portfolio	portfolio	NOUN
fsr-3710	9	22	of	of	ADP
fsr-3710	9	23	all	all	DET
fsr-3710	9	24	assets	asset	NOUN
fsr-3710	9	25	.	.	PUNCT
fsr-3710	10	1	adequate	adequate	ADJ
fsr-3710	10	2	diversification	diversification	NOUN
fsr-3710	10	3	is	be	AUX
fsr-3710	10	4	achieved	achieve	VERB
fsr-3710	10	5	when	when	SCONJ
fsr-3710	10	6	the	the	DET
fsr-3710	10	7	variability	variability	NOUN
fsr-3710	10	8	of	of	ADP
fsr-3710	10	9	one	one	NUM
fsr-3710	10	10	’s	’s	PART
fsr-3710	10	11	portfolio	portfolio	NOUN
fsr-3710	10	12	is	be	AUX
fsr-3710	10	13	not	not	PART
fsr-3710	10	14	significantly	significantly	ADV
fsr-3710	10	15	different	different	ADJ
fsr-3710	10	16	than	than	ADP
fsr-3710	10	17	that	that	PRON
fsr-3710	10	18	of	of	ADP
fsr-3710	10	19	the	the	DET
fsr-3710	10	20	market	market	NOUN
fsr-3710	10	21	portfolio	portfolio	NOUN
fsr-3710	10	22	.	.	PUNCT
fsr-3710	11	1	the	the	DET
fsr-3710	11	2	two	two	NUM
fsr-3710	11	3	classic	classic	ADJ
fsr-3710	11	4	studies	study	NOUN
fsr-3710	11	5	which	which	PRON
fsr-3710	11	6	define	define	VERB
fsr-3710	11	7	the	the	DET
fsr-3710	11	8	“	"	PUNCT
fsr-3710	11	9	minimum	minimum	ADJ
fsr-3710	11	10	”	"	PUNCT
fsr-3710	11	11	portfolio	portfolio	NOUN
fsr-3710	11	12	size	size	NOUN
fsr-3710	11	13	to	to	PART
fsr-3710	11	14	be	be	AUX
fsr-3710	11	15	adequately	adequately	ADV
fsr-3710	11	16	diversified	diversify	VERB
fsr-3710	11	17	are	be	AUX
fsr-3710	11	18	evans	evan	NOUN
fsr-3710	11	19	and	and	CCONJ
fsr-3710	11	20	archer	archer	PROPN
fsr-3710	11	21	(	(	PUNCT
fsr-3710	11	22	e&a	e&a	PROPN
fsr-3710	11	23	)	)	PUNCT
fsr-3710	11	24	(	(	PUNCT
fsr-3710	11	25	1968	1968	NUM
fsr-3710	11	26	)	)	PUNCT
fsr-3710	11	27	and	and	CCONJ
fsr-3710	11	28	fisher	fisher	PROPN
fsr-3710	11	29	and	and	CCONJ
fsr-3710	11	30	lorie	lorie	PROPN
fsr-3710	11	31	(	(	PUNCT
fsr-3710	11	32	f&l	f&l	PROPN
fsr-3710	11	33	)	)	PUNCT
fsr-3710	11	34	(	(	PUNCT
fsr-3710	11	35	1970	1970	NUM
fsr-3710	11	36	)	)	PUNCT
fsr-3710	11	37	.	.	PUNCT
fsr-3710	12	1	the	the	DET
fsr-3710	12	2	word	word	NOUN
fsr-3710	12	3	“	"	PUNCT
fsr-3710	12	4	minimum	minimum	NOUN
fsr-3710	12	5	”	"	PUNCT
fsr-3710	12	6	is	be	AUX
fsr-3710	12	7	used	use	VERB
fsr-3710	12	8	in	in	ADP
fsr-3710	12	9	the	the	DET
fsr-3710	12	10	sense	sense	NOUN
fsr-3710	12	11	that	that	SCONJ
fsr-3710	12	12	diversification	diversification	NOUN
fsr-3710	12	13	beyond	beyond	ADP
fsr-3710	12	14	this	this	DET
fsr-3710	12	15	size	size	NOUN
fsr-3710	12	16	has	have	AUX
fsr-3710	12	17	little	little	ADJ
fsr-3710	12	18	economic	economic	ADJ
fsr-3710	12	19	value	value	NOUN
fsr-3710	12	20	in	in	ADP
fsr-3710	12	21	terms	term	NOUN
fsr-3710	12	22	of	of	ADP
fsr-3710	12	23	risk	risk	NOUN
fsr-3710	12	24	reduction	reduction	NOUN
fsr-3710	12	25	and	and	CCONJ
fsr-3710	12	26	may	may	AUX
fsr-3710	12	27	contain	contain	VERB
fsr-3710	12	28	significant	significant	ADJ
fsr-3710	12	29	costs	cost	NOUN
fsr-3710	12	30	in	in	ADP
fsr-3710	12	31	terms	term	NOUN
fsr-3710	12	32	of	of	ADP
fsr-3710	12	33	transaction	transaction	NOUN
fsr-3710	12	34	fees	fee	NOUN
fsr-3710	12	35	and	and	CCONJ
fsr-3710	12	36	monitoring	monitoring	NOUN
fsr-3710	12	37	activity	activity	NOUN
fsr-3710	12	38	.	.	PUNCT
fsr-3710	13	1	a	a	DET
fsr-3710	13	2	significant	significant	ADJ
fsr-3710	13	3	problem	problem	NOUN
fsr-3710	13	4	with	with	ADP
fsr-3710	13	5	these	these	DET
fsr-3710	13	6	two	two	NUM
fsr-3710	13	7	studies	study	NOUN
fsr-3710	13	8	and	and	CCONJ
fsr-3710	13	9	the	the	DET
fsr-3710	13	10	rest	rest	NOUN
fsr-3710	13	11	of	of	ADP
fsr-3710	13	12	the	the	DET
fsr-3710	13	13	literature	literature	NOUN
fsr-3710	13	14	that	that	PRON
fsr-3710	13	15	looks	look	VERB
fsr-3710	13	16	at	at	ADP
fsr-3710	13	17	the	the	DET
fsr-3710	13	18	topic	topic	NOUN
fsr-3710	13	19	of	of	ADP
fsr-3710	13	20	portfolio	portfolio	NOUN
fsr-3710	13	21	size	size	NOUN
fsr-3710	13	22	and	and	CCONJ
fsr-3710	13	23	diversification	diversification	NOUN
fsr-3710	13	24	is	be	AUX
fsr-3710	13	25	that	that	SCONJ
fsr-3710	13	26	,	,	PUNCT
fsr-3710	13	27	as	as	ADP
fsr-3710	13	28	a	a	DET
fsr-3710	13	29	practical	practical	ADJ
fsr-3710	13	30	matter	matter	NOUN
fsr-3710	13	31	,	,	PUNCT
fsr-3710	13	32	they	they	PRON
fsr-3710	13	33	do	do	AUX
fsr-3710	13	34	not	not	PART
fsr-3710	13	35	actually	actually	ADV
fsr-3710	13	36	answer	answer	VERB
fsr-3710	13	37	the	the	DET
fsr-3710	13	38	simple	simple	ADJ
fsr-3710	13	39	question	question	NOUN
fsr-3710	13	40	of	of	ADP
fsr-3710	13	41	whether	whether	SCONJ
fsr-3710	13	42	a	a	DET
fsr-3710	13	43	specific	specific	ADJ
fsr-3710	13	44	portfolio	portfolio	NOUN
fsr-3710	13	45	is	be	AUX
fsr-3710	13	46	adequately	adequately	ADV
fsr-3710	13	47	diversified	diversify	VERB
fsr-3710	13	48	.	.	PUNCT
fsr-3710	14	1	virtually	virtually	ADV
fsr-3710	14	2	the	the	DET
fsr-3710	14	3	entire	entire	ADJ
fsr-3710	14	4	literature	literature	NOUN
fsr-3710	14	5	on	on	ADP
fsr-3710	14	6	the	the	DET
fsr-3710	14	7	question	question	NOUN
fsr-3710	14	8	of	of	ADP
fsr-3710	14	9	portfolio	portfolio	NOUN
fsr-3710	14	10	size	size	NOUN
fsr-3710	14	11	and	and	CCONJ
fsr-3710	14	12	diversification	diversification	NOUN
fsr-3710	14	13	is	be	AUX
fsr-3710	14	14	based	base	VERB
fsr-3710	14	15	on	on	ADP
fsr-3710	14	16	portfolios	portfolio	NOUN
fsr-3710	14	17	that	that	PRON
fsr-3710	14	18	are	be	AUX
fsr-3710	14	19	evenly	evenly	ADV
fsr-3710	14	20	distributed	distribute	VERB
fsr-3710	14	21	.	.	PUNCT
fsr-3710	15	1	in	in	ADP
fsr-3710	15	2	reality	reality	NOUN
fsr-3710	15	3	,	,	PUNCT
fsr-3710	15	4	walt	walt	PROPN
fsr-3710	15	5	woerheide	woerheide	PROPN
fsr-3710	15	6	l	l	PROPN
fsr-3710	15	7	rochester	rochester	PROPN
fsr-3710	15	8	institute	institute	PROPN
fsr-3710	15	9	of	of	ADP
fsr-3710	15	10	technology	technology	PROPN
fsr-3710	15	11	,	,	PUNCT
fsr-3710	15	12	college	college	NOUN
fsr-3710	15	13	of	of	ADP
fsr-3710	15	14	business	business	NOUN
fsr-3710	15	15	,	,	PUNCT
fsr-3710	15	16	rochester	rochester	PROPN
fsr-3710	15	17	,	,	PUNCT
fsr-3710	15	18	new	new	PROPN
fsr-3710	15	19	york	york	PROPN
fsr-3710	15	20	14623	14623	NUM
fsr-3710	15	21	-	-	SYM
fsr-3710	15	22	0887	0887	NUM
fsr-3710	15	23	;	;	PUNCT
fsr-3710	15	24	don	don	PROPN
fsr-3710	15	25	persson	persson	PROPN
fsr-3710	15	26	l	l	PROPN
fsr-3710	15	27	ac	ac	PROPN
fsr-3710	15	28	rochester	rochester	PROPN
fsr-3710	15	29	division	division	PROPN
fsr-3710	15	30	,	,	PUNCT
fsr-3710	15	31	general	general	ADJ
fsr-3710	15	32	motors	motors	PROPN
fsr-3710	15	33	,	,	PUNCT
fsr-3710	15	34	flint	flint	NOUN
fsr-3710	15	35	,	,	PUNCT
fsr-3710	15	36	mi	mi	PROPN
fsr-3710	15	37	.	.	PROPN
fsr-3710	15	38	financial	financial	PROPN
fsr-3710	15	39	services	services	PROPN
fsr-3710	15	40	review	review	PROPN
fsr-3710	15	41	,	,	PUNCT
fsr-3710	15	42	2(2	2(2	NUM
fsr-3710	15	43	)	)	PUNCT
fsr-3710	15	44	1993	1993	NUM
fsr-3710	15	45	it	it	PRON
fsr-3710	15	46	would	would	AUX
fsr-3710	15	47	be	be	AUX
fsr-3710	15	48	incredibly	incredibly	ADV
fsr-3710	15	49	rare	rare	ADJ
fsr-3710	15	50	for	for	SCONJ
fsr-3710	15	51	an	an	DET
fsr-3710	15	52	investor	investor	NOUN
fsr-3710	15	53	to	to	PART
fsr-3710	15	54	have	have	VERB
fsr-3710	15	55	his	his	PRON
fsr-3710	15	56	wealth	wealth	NOUN
fsr-3710	15	57	evenly	evenly	ADV
fsr-3710	15	58	divided	divide	VERB
fsr-3710	15	59	among	among	ADP
fsr-3710	15	60	securities	security	NOUN
fsr-3710	15	61	.	.	PUNCT
fsr-3710	16	1	thus	thus	ADV
fsr-3710	16	2	,	,	PUNCT
fsr-3710	16	3	all	all	PRON
fsr-3710	16	4	of	of	ADP
fsr-3710	16	5	our	our	PRON
fsr-3710	16	6	knowledge	knowledge	NOUN
fsr-3710	16	7	about	about	ADP
fsr-3710	16	8	adequate	adequate	ADJ
fsr-3710	16	9	diversification	diversification	NOUN
fsr-3710	16	10	is	be	AUX
fsr-3710	16	11	irrelevant	irrelevant	ADJ
fsr-3710	16	12	unless	unless	SCONJ
fsr-3710	16	13	we	we	PRON
fsr-3710	16	14	could	could	AUX
fsr-3710	16	15	tell	tell	VERB
fsr-3710	16	16	investors	investor	NOUN
fsr-3710	16	17	whether	whether	SCONJ
fsr-3710	16	18	an	an	DET
fsr-3710	16	19	unevenly	unevenly	ADV
fsr-3710	16	20	distributed	distribute	VERB
fsr-3710	16	21	portfolio	portfolio	NOUN
fsr-3710	16	22	of	of	ADP
fsr-3710	16	23	15	15	NUM
fsr-3710	16	24	securities	security	NOUN
fsr-3710	16	25	is	be	AUX
fsr-3710	16	26	as	as	ADV
fsr-3710	16	27	adequately	adequately	ADV
fsr-3710	16	28	diversified	diversify	VERB
fsr-3710	16	29	as	as	ADP
fsr-3710	16	30	,	,	PUNCT
fsr-3710	16	31	say	say	INTJ
fsr-3710	16	32	,	,	PUNCT
fsr-3710	16	33	an	an	DET
fsr-3710	16	34	evenly	evenly	ADV
fsr-3710	16	35	distributed	distribute	VERB
fsr-3710	16	36	portfolio	portfolio	NOUN
fsr-3710	16	37	of	of	ADP
fsr-3710	16	38	10	10	NUM
fsr-3710	16	39	securities	security	NOUN
fsr-3710	16	40	.	.	PUNCT
fsr-3710	17	1	furthermore	furthermore	ADV
fsr-3710	17	2	,	,	PUNCT
fsr-3710	17	3	even	even	ADV
fsr-3710	17	4	if	if	SCONJ
fsr-3710	17	5	an	an	DET
fsr-3710	17	6	investor	investor	NOUN
fsr-3710	17	7	held	hold	VERB
fsr-3710	17	8	an	an	DET
fsr-3710	17	9	evenly	evenly	ADV
fsr-3710	17	10	distributed	distribute	VERB
fsr-3710	17	11	portfolio	portfolio	NOUN
fsr-3710	17	12	at	at	ADP
fsr-3710	17	13	a	a	DET
fsr-3710	17	14	point	point	NOUN
fsr-3710	17	15	in	in	ADP
fsr-3710	17	16	time	time	NOUN
fsr-3710	17	17	,	,	PUNCT
fsr-3710	17	18	such	such	DET
fsr-3710	17	19	a	a	DET
fsr-3710	17	20	portfolio	portfolio	NOUN
fsr-3710	17	21	would	would	AUX
fsr-3710	17	22	become	become	VERB
fsr-3710	17	23	unbalanced	unbalanced	ADJ
fsr-3710	17	24	for	for	ADP
fsr-3710	17	25	two	two	NUM
fsr-3710	17	26	reasons	reason	NOUN
fsr-3710	17	27	.	.	PUNCT
fsr-3710	18	1	one	one	NUM
fsr-3710	18	2	reason	reason	NOUN
fsr-3710	18	3	is	be	AUX
fsr-3710	18	4	that	that	SCONJ
fsr-3710	18	5	prices	price	NOUN
fsr-3710	18	6	of	of	ADP
fsr-3710	18	7	different	different	ADJ
fsr-3710	18	8	securities	security	NOUN
fsr-3710	18	9	change	change	NOUN
fsr-3710	18	10	at	at	ADP
fsr-3710	18	11	different	different	ADJ
fsr-3710	18	12	rates	rate	NOUN
fsr-3710	18	13	.	.	PUNCT
fsr-3710	19	1	another	another	DET
fsr-3710	19	2	reason	reason	NOUN
fsr-3710	19	3	is	be	AUX
fsr-3710	19	4	the	the	DET
fsr-3710	19	5	changes	change	NOUN
fsr-3710	19	6	in	in	ADP
fsr-3710	19	7	portfolio	portfolio	NOUN
fsr-3710	19	8	composition	composition	NOUN
fsr-3710	19	9	that	that	PRON
fsr-3710	19	10	result	result	VERB
fsr-3710	19	11	from	from	ADP
fsr-3710	19	12	the	the	DET
fsr-3710	19	13	addition	addition	NOUN
fsr-3710	19	14	and	and	CCONJ
fsr-3710	19	15	removal	removal	NOUN
fsr-3710	19	16	of	of	ADP
fsr-3710	19	17	cash	cash	NOUN
fsr-3710	19	18	(	(	PUNCT
fsr-3710	19	19	an	an	DET
fsr-3710	19	20	event	event	NOUN
fsr-3710	19	21	that	that	PRON
fsr-3710	19	22	occurs	occur	VERB
fsr-3710	19	23	often	often	ADV
fsr-3710	19	24	in	in	ADP
fsr-3710	19	25	practice	practice	NOUN
fsr-3710	19	26	,	,	PUNCT
fsr-3710	19	27	and	and	CCONJ
fsr-3710	19	28	rarely	rarely	ADV
fsr-3710	19	29	in	in	ADP
fsr-3710	19	30	empirical	empirical	ADJ
fsr-3710	19	31	research	research	NOUN
fsr-3710	19	32	!	!	PUNCT
fsr-3710	19	33	)	)	PUNCT
fsr-3710	19	34	.	.	PUNCT
fsr-3710	20	1	what	what	PRON
fsr-3710	20	2	investors	investor	NOUN
fsr-3710	20	3	need	need	VERB
fsr-3710	20	4	is	be	AUX
fsr-3710	20	5	a	a	DET
fsr-3710	20	6	spot	spot	NOUN
fsr-3710	20	7	measure	measure	NOUN
fsr-3710	20	8	of	of	ADP
fsr-3710	20	9	diversification	diversification	NOUN
fsr-3710	20	10	based	base	VERB
fsr-3710	20	11	on	on	ADP
fsr-3710	20	12	nothing	nothing	PRON
fsr-3710	20	13	more	more	ADJ
fsr-3710	20	14	than	than	ADP
fsr-3710	20	15	the	the	DET
fsr-3710	20	16	distribution	distribution	NOUN
fsr-3710	20	17	of	of	ADP
fsr-3710	20	18	the	the	DET
fsr-3710	20	19	weights	weight	NOUN
fsr-3710	20	20	representing	represent	VERB
fsr-3710	20	21	the	the	DET
fsr-3710	20	22	proportion	proportion	NOUN
fsr-3710	20	23	of	of	ADP
fsr-3710	20	24	the	the	DET
fsr-3710	20	25	portfolio	portfolio	NOUN
fsr-3710	20	26	invested	invest	VERB
fsr-3710	20	27	in	in	ADP
fsr-3710	20	28	each	each	DET
fsr-3710	20	29	security	security	NOUN
fsr-3710	20	30	.	.	PUNCT
fsr-3710	21	1	this	this	DET
fsr-3710	21	2	paper	paper	NOUN
fsr-3710	21	3	shows	show	VERB
fsr-3710	21	4	that	that	SCONJ
fsr-3710	21	5	an	an	DET
fsr-3710	21	6	index	index	NOUN
fsr-3710	21	7	of	of	ADP
fsr-3710	21	8	portfolio	portfolio	NOUN
fsr-3710	21	9	diversification	diversification	NOUN
fsr-3710	21	10	can	can	AUX
fsr-3710	21	11	be	be	AUX
fsr-3710	21	12	constructed	construct	VERB
fsr-3710	21	13	,	,	PUNCT
fsr-3710	21	14	which	which	PRON
fsr-3710	21	15	is	be	AUX
fsr-3710	21	16	as	as	ADV
fsr-3710	21	17	good	good	ADJ
fsr-3710	21	18	in	in	ADP
fsr-3710	21	19	indicating	indicate	VERB
fsr-3710	21	20	the	the	DET
fsr-3710	21	21	degree	degree	NOUN
fsr-3710	21	22	of	of	ADP
fsr-3710	21	23	diversification	diversification	NOUN
fsr-3710	21	24	of	of	ADP
fsr-3710	21	25	an	an	DET
fsr-3710	21	26	unevenly	unevenly	ADV
fsr-3710	21	27	distributed	distribute	VERB
fsr-3710	21	28	portfolio	portfolio	NOUN
fsr-3710	21	29	as	as	SCONJ
fsr-3710	21	30	is	be	AUX
fsr-3710	21	31	the	the	DET
fsr-3710	21	32	number	number	NOUN
fsr-3710	21	33	of	of	ADP
fsr-3710	21	34	securities	security	NOUN
fsr-3710	21	35	in	in	ADP
fsr-3710	21	36	indicating	indicate	VERB
fsr-3710	21	37	the	the	DET
fsr-3710	21	38	degree	degree	NOUN
fsr-3710	21	39	of	of	ADP
fsr-3710	21	40	diversification	diversification	NOUN
fsr-3710	21	41	of	of	ADP
fsr-3710	21	42	an	an	DET
fsr-3710	21	43	evenly	evenly	ADV
fsr-3710	21	44	distributed	distribute	VERB
fsr-3710	21	45	portfolio	portfolio	NOUN
fsr-3710	21	46	.	.	PUNCT
fsr-3710	22	1	such	such	DET
fsr-3710	22	2	an	an	DET
fsr-3710	22	3	index	index	NOUN
fsr-3710	22	4	could	could	AUX
fsr-3710	22	5	be	be	AUX
fsr-3710	22	6	used	use	VERB
fsr-3710	22	7	by	by	ADP
fsr-3710	22	8	individuals	individual	NOUN
fsr-3710	22	9	,	,	PUNCT
fsr-3710	22	10	financial	financial	ADJ
fsr-3710	22	11	advisors	advisor	NOUN
fsr-3710	22	12	,	,	PUNCT
fsr-3710	22	13	and	and	CCONJ
fsr-3710	22	14	others	other	NOUN
fsr-3710	22	15	to	to	PART
fsr-3710	22	16	evaluate	evaluate	VERB
fsr-3710	22	17	the	the	DET
fsr-3710	22	18	degree	degree	NOUN
fsr-3710	22	19	of	of	ADP
fsr-3710	22	20	diver	diver	NOUN
fsr-3710	22	21	sification	sification	NOUN
fsr-3710	22	22	of	of	ADP
fsr-3710	22	23	any	any	DET
fsr-3710	22	24	stock	stock	NOUN
fsr-3710	22	25	portfolio	portfolio	NOUN
fsr-3710	22	26	.	.	PUNCT
fsr-3710	23	1	section	section	PROPN
fsr-3710	23	2	ii	ii	PROPN
fsr-3710	23	3	provides	provide	VERB
fsr-3710	23	4	a	a	DET
fsr-3710	23	5	review	review	NOUN
fsr-3710	23	6	of	of	ADP
fsr-3710	23	7	the	the	DET
fsr-3710	23	8	literature	literature	NOUN
fsr-3710	23	9	on	on	ADP
fsr-3710	23	10	the	the	DET
fsr-3710	23	11	topic	topic	NOUN
fsr-3710	23	12	of	of	ADP
fsr-3710	23	13	portfolio	portfolio	NOUN
fsr-3710	23	14	size	size	NOUN
fsr-3710	23	15	and	and	CCONJ
fsr-3710	23	16	diversification	diversification	NOUN
fsr-3710	23	17	.	.	PUNCT
fsr-3710	24	1	section	section	NOUN
fsr-3710	24	2	iii	iii	PROPN
fsr-3710	24	3	looks	look	VERB
fsr-3710	24	4	at	at	ADP
fsr-3710	24	5	five	five	NUM
fsr-3710	24	6	measures	measure	NOUN
fsr-3710	24	7	of	of	ADP
fsr-3710	24	8	diversification	diversification	NOUN
fsr-3710	24	9	used	use	VERB
fsr-3710	24	10	in	in	ADP
fsr-3710	24	11	the	the	DET
fsr-3710	24	12	industrial	industrial	ADJ
fsr-3710	24	13	organization	organization	NOUN
fsr-3710	24	14	literature	literature	PROPN
fsr-3710	24	15	.	.	PUNCT
fsr-3710	25	1	section	section	NOUN
fsr-3710	25	2	iv	iv	NUM
fsr-3710	25	3	tests	test	VERB
fsr-3710	25	4	the	the	DET
fsr-3710	25	5	quality	quality	NOUN
fsr-3710	25	6	of	of	ADP
fsr-3710	25	7	these	these	DET
fsr-3710	25	8	measures	measure	NOUN
fsr-3710	25	9	in	in	ADP
fsr-3710	25	10	distinguishing	distinguish	VERB
fsr-3710	25	11	portfolio	portfolio	NOUN
fsr-3710	25	12	diversification	diversification	NOUN
fsr-3710	25	13	and	and	CCONJ
fsr-3710	25	14	recommends	recommend	VERB
fsr-3710	25	15	the	the	DET
fsr-3710	25	16	complement	complement	NOUN
fsr-3710	25	17	of	of	ADP
fsr-3710	25	18	the	the	DET
fsr-3710	25	19	herfindahl	herfindahl	NOUN
fsr-3710	25	20	for	for	ADP
fsr-3710	25	21	future	future	ADJ
fsr-3710	25	22	application	application	NOUN
fsr-3710	25	23	.	.	PUNCT
fsr-3710	26	1	section	section	NOUN
fsr-3710	26	2	v	v	NOUN
fsr-3710	26	3	presents	present	NOUN
fsr-3710	26	4	standards	standard	NOUN
fsr-3710	26	5	for	for	ADP
fsr-3710	26	6	diversification	diversification	NOUN
fsr-3710	26	7	using	use	VERB
fsr-3710	26	8	the	the	DET
fsr-3710	26	9	recommended	recommend	VERB
fsr-3710	26	10	index	index	NOUN
fsr-3710	26	11	,	,	PUNCT
fsr-3710	26	12	and	and	CCONJ
fsr-3710	26	13	section	section	NOUN
fsr-3710	26	14	vi	vi	PROPN
fsr-3710	26	15	provides	provide	VERB
fsr-3710	26	16	a	a	DET
fsr-3710	26	17	summary	summary	NOUN
fsr-3710	26	18	along	along	ADP
fsr-3710	26	19	with	with	ADP
fsr-3710	26	20	limitations	limitation	NOUN
fsr-3710	26	21	and	and	CCONJ
fsr-3710	26	22	extensions	extension	NOUN
fsr-3710	26	23	.	.	PUNCT
fsr-3710	27	1	ii	ii	PROPN
fsr-3710	27	2	.	.	PUNCT
fsr-3710	28	1	hterature	hterature	PROPN
fsr-3710	28	2	review	review	PROPN
fsr-3710	28	3	portfolio	portfolio	NOUN
fsr-3710	28	4	size	size	NOUN
fsr-3710	28	5	as	as	SCONJ
fsr-3710	28	6	indicated	indicate	VERB
fsr-3710	28	7	above	above	ADV
fsr-3710	28	8	,	,	PUNCT
fsr-3710	28	9	the	the	DET
fsr-3710	28	10	two	two	NUM
fsr-3710	28	11	classic	classic	ADJ
fsr-3710	28	12	studies	study	NOUN
fsr-3710	28	13	on	on	ADP
fsr-3710	28	14	the	the	DET
fsr-3710	28	15	topic	topic	NOUN
fsr-3710	28	16	of	of	ADP
fsr-3710	28	17	portfolio	portfolio	NOUN
fsr-3710	28	18	size	size	NOUN
fsr-3710	28	19	and	and	CCONJ
fsr-3710	28	20	diversification	diversification	NOUN
fsr-3710	28	21	are	be	AUX
fsr-3710	28	22	those	those	PRON
fsr-3710	28	23	by	by	ADP
fsr-3710	28	24	e&a	e&a	PROPN
fsr-3710	28	25	and	and	CCONJ
fsr-3710	28	26	f&l	f&l	PROPN
fsr-3710	28	27	.	.	PUNCT
fsr-3710	28	28	’	'	PUNCT
fsr-3710	29	1	as	as	SCONJ
fsr-3710	29	2	this	this	DET
fsr-3710	29	3	research	research	NOUN
fsr-3710	29	4	is	be	AUX
fsr-3710	29	5	modelled	model	VERB
fsr-3710	29	6	directly	directly	ADV
fsr-3710	29	7	on	on	ADP
fsr-3710	29	8	that	that	PRON
fsr-3710	29	9	of	of	ADP
fsr-3710	29	10	e&a	e&a	PROPN
fsr-3710	29	11	,	,	PUNCT
fsr-3710	29	12	we	we	PRON
fsr-3710	29	13	would	would	AUX
fsr-3710	29	14	like	like	VERB
fsr-3710	29	15	to	to	PART
fsr-3710	29	16	provide	provide	VERB
fsr-3710	29	17	a	a	DET
fsr-3710	29	18	rather	rather	ADV
fsr-3710	29	19	detailed	detailed	ADJ
fsr-3710	29	20	description	description	NOUN
fsr-3710	29	21	of	of	ADP
fsr-3710	29	22	their	their	PRON
fsr-3710	29	23	results	result	NOUN
fsr-3710	29	24	.	.	PUNCT
fsr-3710	30	1	e&a	e&a	PROPN
fsr-3710	30	2	compute	compute	VERB
fsr-3710	30	3	the	the	DET
fsr-3710	30	4	mean	mean	NOUN
fsr-3710	30	5	of	of	ADP
fsr-3710	30	6	the	the	DET
fsr-3710	30	7	standard	standard	ADJ
fsr-3710	30	8	deviations	deviation	NOUN
fsr-3710	30	9	for	for	ADP
fsr-3710	30	10	60	60	NUM
fsr-3710	30	11	equally	equally	ADV
fsr-3710	30	12	weighted	weight	VERB
fsr-3710	30	13	portfo	portfo	ADJ
fsr-3710	30	14	lios	lio	NOUN
fsr-3710	30	15	at	at	ADP
fsr-3710	30	16	each	each	DET
fsr-3710	30	17	size	size	NOUN
fsr-3710	30	18	level	level	NOUN
fsr-3710	30	19	ranging	range	VERB
fsr-3710	30	20	from	from	ADP
fsr-3710	30	21	1	1	NUM
fsr-3710	30	22	to	to	PART
fsr-3710	30	23	40	40	NUM
fsr-3710	30	24	securities	security	NOUN
fsr-3710	30	25	.	.	PUNCT
fsr-3710	31	1	they	they	PRON
fsr-3710	31	2	then	then	ADV
fsr-3710	31	3	regressed	regress	VERB
fsr-3710	31	4	the	the	DET
fsr-3710	31	5	mean	mean	NOUN
fsr-3710	31	6	portfolio	portfolio	NOUN
fsr-3710	31	7	standard	standard	ADJ
fsr-3710	31	8	deviations	deviation	NOUN
fsr-3710	31	9	against	against	ADP
fsr-3710	31	10	the	the	DET
fsr-3710	31	11	inverse	inverse	NOUN
fsr-3710	31	12	of	of	ADP
fsr-3710	31	13	the	the	DET
fsr-3710	31	14	number	number	NOUN
fsr-3710	31	15	of	of	ADP
fsr-3710	31	16	securities	security	NOUN
fsr-3710	31	17	in	in	ADP
fsr-3710	31	18	the	the	DET
fsr-3710	31	19	portfolio	portfolio	NOUN
fsr-3710	31	20	and	and	CCONJ
fsr-3710	31	21	obtained	obtain	VERB
fsr-3710	31	22	the	the	DET
fsr-3710	31	23	following	follow	VERB
fsr-3710	31	24	estimate	estimate	NOUN
fsr-3710	31	25	:	:	PUNCT
fsr-3710	31	26	y	y	PROPN
fsr-3710	31	27	=	=	SYM
fsr-3710	31	28	.08625	.08625	PROPN
fsr-3710	31	29	/	/	SYM
fsr-3710	31	30	n	n	PROPN
fsr-3710	32	1	+	+	CCONJ
fsr-3710	32	2	.1191	.1191	NOUN
fsr-3710	33	1	where	where	SCONJ
fsr-3710	33	2	y	y	NOUN
fsr-3710	33	3	=	=	PUNCT
fsr-3710	33	4	mean	mean	VERB
fsr-3710	33	5	portfolio	portfolio	NOUN
fsr-3710	33	6	standard	standard	ADJ
fsr-3710	33	7	deviation	deviation	NOUN
fsr-3710	33	8	,	,	PUNCT
fsr-3710	33	9	and	and	CCONJ
fsr-3710	33	10	n	n	CCONJ
fsr-3710	33	11	=	=	NOUN
fsr-3710	33	12	number	number	NOUN
fsr-3710	33	13	of	of	ADP
fsr-3710	33	14	securities	security	NOUN
fsr-3710	33	15	in	in	ADP
fsr-3710	33	16	the	the	DET
fsr-3710	33	17	portfolio	portfolio	NOUN
fsr-3710	33	18	.	.	PUNCT
fsr-3710	34	1	an	an	DET
fsr-3710	34	2	index	index	NOUN
fsr-3710	34	3	of	of	ADP
fsr-3710	34	4	portfolio	portfolio	NOUN
fsr-3710	34	5	diversifiation	diversifiation	NOUN
fsr-3710	34	6	75	75	NUM
fsr-3710	34	7	e&a	e&a	PROPN
fsr-3710	34	8	concluded	conclude	VERB
fsr-3710	34	9	that	that	SCONJ
fsr-3710	34	10	a	a	DET
fsr-3710	34	11	ten	ten	NUM
fsr-3710	34	12	-	-	PUNCT
fsr-3710	34	13	security	security	NOUN
fsr-3710	34	14	portfolio	portfolio	NOUN
fsr-3710	34	15	provided	provide	VERB
fsr-3710	34	16	adequate	adequate	ADJ
fsr-3710	34	17	diversification	diversification	NOUN
fsr-3710	34	18	.	.	PUNCT
fsr-3710	35	1	a	a	DET
fsr-3710	35	2	graph	graph	NOUN
fsr-3710	35	3	of	of	ADP
fsr-3710	35	4	their	their	PRON
fsr-3710	35	5	results	result	NOUN
fsr-3710	35	6	,	,	PUNCT
fsr-3710	35	7	or	or	CCONJ
fsr-3710	35	8	a	a	DET
fsr-3710	35	9	variation	variation	NOUN
fsr-3710	35	10	of	of	ADP
fsr-3710	35	11	it	it	PRON
fsr-3710	35	12	,	,	PUNCT
fsr-3710	35	13	is	be	AUX
fsr-3710	35	14	presented	present	VERB
fsr-3710	35	15	in	in	ADP
fsr-3710	35	16	nearly	nearly	ADV
fsr-3710	35	17	all	all	PRON
fsr-3710	35	18	corporate	corporate	ADJ
fsr-3710	35	19	finance	finance	NOUN
fsr-3710	35	20	and	and	CCONJ
fsr-3710	35	21	investments	investment	NOUN
fsr-3710	35	22	textbooks	textbook	NOUN
fsr-3710	35	23	today	today	NOUN
fsr-3710	35	24	.	.	PUNCT
fsr-3710	36	1	f&l	f&l	PROPN
fsr-3710	36	2	measure	measure	NOUN
fsr-3710	36	3	risk	risk	NOUN
fsr-3710	36	4	by	by	ADP
fsr-3710	36	5	examining	examine	VERB
fsr-3710	36	6	various	various	ADJ
fsr-3710	36	7	measures	measure	NOUN
fsr-3710	36	8	of	of	ADP
fsr-3710	36	9	dispersion	dispersion	NOUN
fsr-3710	36	10	for	for	ADP
fsr-3710	36	11	wealth	wealth	NOUN
fsr-3710	36	12	ratios	ratio	NOUN
fsr-3710	36	13	over	over	ADP
fsr-3710	36	14	various	various	ADJ
fsr-3710	36	15	time	time	NOUN
fsr-3710	36	16	periods	period	NOUN
fsr-3710	36	17	for	for	ADP
fsr-3710	36	18	portfolios	portfolio	NOUN
fsr-3710	36	19	of	of	ADP
fsr-3710	36	20	sizes	size	NOUN
fsr-3710	36	21	1	1	NUM
fsr-3710	36	22	,	,	PUNCT
fsr-3710	36	23	2	2	NUM
fsr-3710	36	24	,	,	PUNCT
fsr-3710	36	25	8	8	NUM
fsr-3710	36	26	,	,	PUNCT
fsr-3710	36	27	16	16	NUM
fsr-3710	36	28	,	,	PUNCT
fsr-3710	36	29	32	32	NUM
fsr-3710	36	30	,	,	PUNCT
fsr-3710	36	31	and	and	CCONJ
fsr-3710	36	32	128	128	NUM
fsr-3710	36	33	securities	security	NOUN
fsr-3710	36	34	.	.	PUNCT
fsr-3710	37	1	for	for	ADP
fsr-3710	37	2	our	our	PRON
fsr-3710	37	3	purposes	purpose	NOUN
fsr-3710	37	4	,	,	PUNCT
fsr-3710	37	5	their	their	PRON
fsr-3710	37	6	most	most	ADV
fsr-3710	37	7	significant	significant	ADJ
fsr-3710	37	8	result	result	NOUN
fsr-3710	37	9	probably	probably	ADV
fsr-3710	37	10	is	be	AUX
fsr-3710	37	11	the	the	DET
fsr-3710	37	12	observation	observation	NOUN
fsr-3710	37	13	that	that	SCONJ
fsr-3710	37	14	approximately	approximately	ADV
fsr-3710	37	15	80	80	NUM
fsr-3710	37	16	percent	percent	NOUN
fsr-3710	37	17	of	of	ADP
fsr-3710	37	18	the	the	DET
fsr-3710	37	19	achievable	achievable	ADJ
fsr-3710	37	20	reduction	reduction	NOUN
fsr-3710	37	21	in	in	ADP
fsr-3710	37	22	dispersion	dispersion	NOUN
fsr-3710	37	23	can	can	AUX
fsr-3710	37	24	be	be	AUX
fsr-3710	37	25	attained	attain	VERB
fsr-3710	37	26	by	by	ADP
fsr-3710	37	27	holding	hold	VERB
fsr-3710	37	28	eight	eight	NUM
fsr-3710	37	29	stocks	stock	NOUN
fsr-3710	37	30	(	(	PUNCT
fsr-3710	37	31	the	the	DET
fsr-3710	37	32	reductions	reduction	NOUN
fsr-3710	37	33	range	range	VERB
fsr-3710	37	34	from	from	ADP
fsr-3710	37	35	65	65	NUM
fsr-3710	37	36	to	to	PART
fsr-3710	37	37	91	91	NUM
fsr-3710	37	38	percent	percent	NOUN
fsr-3710	37	39	)	)	PUNCT
fsr-3710	37	40	.	.	PUNCT
fsr-3710	38	1	in	in	ADP
fsr-3710	38	2	a	a	DET
fsr-3710	38	3	follow	follow	VERB
fsr-3710	38	4	-	-	PUNCT
fsr-3710	38	5	up	up	ADP
fsr-3710	38	6	study	study	NOUN
fsr-3710	38	7	to	to	ADP
fsr-3710	38	8	e&a	e&a	PROPN
fsr-3710	38	9	,	,	PUNCT
fsr-3710	38	10	upson	upson	PROPN
fsr-3710	38	11	,	,	PUNCT
fsr-3710	38	12	jessup	jessup	PROPN
fsr-3710	38	13	,	,	PUNCT
fsr-3710	38	14	and	and	CCONJ
fsr-3710	38	15	matsumoto	matsumoto	PROPN
fsr-3710	38	16	(	(	PUNCT
fsr-3710	38	17	1975	1975	NUM
fsr-3710	38	18	)	)	PUNCT
fsr-3710	38	19	looked	look	VERB
fsr-3710	38	20	at	at	ADP
fsr-3710	38	21	the	the	DET
fsr-3710	38	22	standard	standard	ADJ
fsr-3710	38	23	deviation	deviation	NOUN
fsr-3710	38	24	of	of	ADP
fsr-3710	38	25	the	the	DET
fsr-3710	38	26	standard	standard	ADJ
fsr-3710	38	27	deviations	deviation	NOUN
fsr-3710	38	28	,	,	PUNCT
fsr-3710	38	29	and	and	CCONJ
fsr-3710	38	30	concluded	conclude	VERB
fsr-3710	38	31	that	that	SCONJ
fsr-3710	38	32	portfolio	portfolio	NOUN
fsr-3710	38	33	managers	manager	NOUN
fsr-3710	38	34	should	should	AUX
fsr-3710	38	35	diversify	diversify	VERB
fsr-3710	38	36	among	among	ADP
fsr-3710	38	37	more	more	ADJ
fsr-3710	38	38	than	than	ADP
fsr-3710	38	39	16	16	NUM
fsr-3710	38	40	stocks	stock	NOUN
fsr-3710	38	41	,	,	PUNCT
fsr-3710	38	42	and	and	CCONJ
fsr-3710	38	43	that	that	SCONJ
fsr-3710	38	44	diversifying	diversify	VERB
fsr-3710	38	45	among	among	ADP
fsr-3710	38	46	even	even	ADV
fsr-3710	38	47	30	30	NUM
fsr-3710	38	48	or	or	CCONJ
fsr-3710	38	49	more	more	ADJ
fsr-3710	38	50	stocks	stock	NOUN
fsr-3710	38	51	can	can	AUX
fsr-3710	38	52	be	be	AUX
fsr-3710	38	53	worthwhile	worthwhile	ADJ
fsr-3710	38	54	in	in	ADP
fsr-3710	38	55	terms	term	NOUN
fsr-3710	38	56	of	of	ADP
fsr-3710	38	57	risk	risk	NOUN
fsr-3710	38	58	reduction	reduction	NOUN
fsr-3710	38	59	.	.	PUNCT
fsr-3710	39	1	statman	statman	NOUN
fsr-3710	39	2	(	(	PUNCT
fsr-3710	39	3	1987	1987	NUM
fsr-3710	39	4	)	)	PUNCT
fsr-3710	39	5	argues	argue	VERB
fsr-3710	39	6	that	that	SCONJ
fsr-3710	39	7	a	a	DET
fsr-3710	39	8	well	well	ADV
fsr-3710	39	9	-	-	PUNCT
fsr-3710	39	10	diversified	diversify	VERB
fsr-3710	39	11	portfolio	portfolio	NOUN
fsr-3710	39	12	must	must	AUX
fsr-3710	39	13	include	include	VERB
fsr-3710	39	14	at	at	ADV
fsr-3710	39	15	least	least	ADV
fsr-3710	39	16	30	30	NUM
fsr-3710	39	17	to	to	PART
fsr-3710	39	18	40	40	NUM
fsr-3710	39	19	stocks	stock	NOUN
fsr-3710	39	20	.	.	PUNCT
fsr-3710	40	1	statman	statman	PROPN
fsr-3710	40	2	’s	’s	PART
fsr-3710	40	3	analysis	analysis	NOUN
fsr-3710	40	4	is	be	AUX
fsr-3710	40	5	based	base	VERB
fsr-3710	40	6	on	on	ADP
fsr-3710	40	7	the	the	DET
fsr-3710	40	8	assumption	assumption	NOUN
fsr-3710	40	9	that	that	SCONJ
fsr-3710	40	10	all	all	DET
fsr-3710	40	11	investors	investor	NOUN
fsr-3710	40	12	have	have	AUX
fsr-3710	40	13	the	the	DET
fsr-3710	40	14	opportunity	opportunity	NOUN
fsr-3710	40	15	to	to	PART
fsr-3710	40	16	buy	buy	VERB
fsr-3710	40	17	no	no	DET
fsr-3710	40	18	-	-	PUNCT
fsr-3710	40	19	load	load	NOUN
fsr-3710	40	20	index	index	NOUN
fsr-3710	40	21	funds	fund	NOUN
fsr-3710	40	22	,	,	PUNCT
fsr-3710	40	23	and	and	CCONJ
fsr-3710	40	24	thus	thus	ADV
fsr-3710	40	25	the	the	DET
fsr-3710	40	26	cost	cost	NOUN
fsr-3710	40	27	of	of	ADP
fsr-3710	40	28	adding	add	VERB
fsr-3710	40	29	assets	asset	NOUN
fsr-3710	40	30	combined	combine	VERB
fsr-3710	40	31	with	with	ADP
fsr-3710	40	32	the	the	DET
fsr-3710	40	33	risk	risk	NOUN
fsr-3710	40	34	reduction	reduction	NOUN
fsr-3710	40	35	benefits	benefit	NOUN
fsr-3710	40	36	of	of	ADP
fsr-3710	40	37	adding	add	VERB
fsr-3710	40	38	these	these	DET
fsr-3710	40	39	assets	asset	NOUN
fsr-3710	40	40	must	must	AUX
fsr-3710	40	41	be	be	AUX
fsr-3710	40	42	compared	compare	VERB
fsr-3710	40	43	to	to	ADP
fsr-3710	40	44	the	the	DET
fsr-3710	40	45	cost	cost	NOUN
fsr-3710	40	46	and	and	CCONJ
fsr-3710	40	47	risk	risk	NOUN
fsr-3710	40	48	of	of	ADP
fsr-3710	40	49	portfolios	portfolio	NOUN
fsr-3710	40	50	that	that	PRON
fsr-3710	40	51	combine	combine	VERB
fsr-3710	40	52	the	the	DET
fsr-3710	40	53	risk	risk	NOUN
fsr-3710	40	54	-	-	PUNCT
fsr-3710	40	55	free	free	ADJ
fsr-3710	40	56	asset	asset	NOUN
fsr-3710	40	57	with	with	ADP
fsr-3710	40	58	an	an	DET
fsr-3710	40	59	index	index	NOUN
fsr-3710	40	60	fund	fund	NOUN
fsr-3710	40	61	.	.	PUNCT
fsr-3710	41	1	a	a	DET
fsr-3710	41	2	variation	variation	NOUN
fsr-3710	41	3	on	on	ADP
fsr-3710	41	4	statman	statman	NOUN
fsr-3710	41	5	’s	’s	PART
fsr-3710	41	6	study	study	NOUN
fsr-3710	41	7	by	by	ADP
fsr-3710	41	8	shanker	shanker	PROPN
fsr-3710	41	9	(	(	PUNCT
fsr-3710	41	10	1989	1989	NUM
fsr-3710	41	11	)	)	PUNCT
fsr-3710	41	12	shows	show	VERB
fsr-3710	41	13	that	that	SCONJ
fsr-3710	41	14	the	the	DET
fsr-3710	41	15	conclusions	conclusion	NOUN
fsr-3710	41	16	about	about	ADP
fsr-3710	41	17	portfolio	portfolio	NOUN
fsr-3710	41	18	size	size	NOUN
fsr-3710	41	19	are	be	AUX
fsr-3710	41	20	dependent	dependent	ADJ
fsr-3710	41	21	on	on	ADP
fsr-3710	41	22	the	the	DET
fsr-3710	41	23	size	size	NOUN
fsr-3710	41	24	of	of	ADP
fsr-3710	41	25	the	the	DET
fsr-3710	41	26	benchmark	benchmark	NOUN
fsr-3710	41	27	portfolio	portfolio	NOUN
fsr-3710	41	28	used	use	VERB
fsr-3710	41	29	for	for	ADP
fsr-3710	41	30	comparison	comparison	NOUN
fsr-3710	41	31	and	and	CCONJ
fsr-3710	41	32	the	the	DET
fsr-3710	41	33	assumed	assumed	ADJ
fsr-3710	41	34	size	size	NOUN
fsr-3710	41	35	of	of	ADP
fsr-3710	41	36	transaction	transaction	NOUN
fsr-3710	41	37	fees	fee	NOUN
fsr-3710	41	38	.	.	PUNCT
fsr-3710	42	1	smaller	small	ADJ
fsr-3710	42	2	benchmark	benchmark	NOUN
fsr-3710	42	3	portfolios	portfolio	NOUN
fsr-3710	42	4	suggest	suggest	VERB
fsr-3710	42	5	smaller	small	ADJ
fsr-3710	42	6	optimal	optimal	ADJ
fsr-3710	42	7	portfolio	portfolio	NOUN
fsr-3710	42	8	sizes	size	NOUN
fsr-3710	42	9	,	,	PUNCT
fsr-3710	42	10	and	and	CCONJ
fsr-3710	42	11	smaller	small	ADJ
fsr-3710	42	12	transaction	transaction	NOUN
fsr-3710	42	13	fees	fee	NOUN
fsr-3710	42	14	imply	imply	VERB
fsr-3710	42	15	larger	large	ADJ
fsr-3710	42	16	optimal	optimal	ADJ
fsr-3710	42	17	portfolios	portfolio	NOUN
fsr-3710	42	18	.	.	PUNCT
fsr-3710	43	1	a	a	DET
fsr-3710	43	2	follow	follow	VERB
fsr-3710	43	3	-	-	PUNCT
fsr-3710	43	4	up	up	ADP
fsr-3710	43	5	study	study	NOUN
fsr-3710	43	6	by	by	ADP
fsr-3710	43	7	murphy	murphy	PROPN
fsr-3710	43	8	(	(	PUNCT
fsr-3710	43	9	1991	1991	NUM
fsr-3710	43	10	)	)	PUNCT
fsr-3710	43	11	questions	question	NOUN
fsr-3710	43	12	the	the	DET
fsr-3710	43	13	validity	validity	NOUN
fsr-3710	43	14	of	of	ADP
fsr-3710	43	15	the	the	DET
fsr-3710	43	16	numbers	number	NOUN
fsr-3710	43	17	used	use	VERB
fsr-3710	43	18	by	by	ADP
fsr-3710	43	19	statman	statman	NOUN
fsr-3710	43	20	,	,	PUNCT
fsr-3710	43	21	and	and	CCONJ
fsr-3710	43	22	concludes	conclude	VERB
fsr-3710	43	23	that	that	SCONJ
fsr-3710	43	24	portfolios	portfolio	NOUN
fsr-3710	43	25	of	of	ADP
fsr-3710	43	26	the	the	DET
fsr-3710	43	27	size	size	NOUN
fsr-3710	43	28	suggested	suggest	VERB
fsr-3710	43	29	by	by	ADP
fsr-3710	43	30	e&a	e&a	PROPN
fsr-3710	43	31	and	and	CCONJ
fsr-3710	43	32	f&l	f&l	PROPN
fsr-3710	43	33	may	may	AUX
fsr-3710	43	34	in	in	ADP
fsr-3710	43	35	fact	fact	NOUN
fsr-3710	43	36	provide	provide	VERB
fsr-3710	43	37	the	the	DET
fsr-3710	43	38	minimum	minimum	ADJ
fsr-3710	43	39	necessary	necessary	ADJ
fsr-3710	43	40	degree	degree	NOUN
fsr-3710	43	41	of	of	ADP
fsr-3710	43	42	diversification	diversification	NOUN
fsr-3710	43	43	.	.	PUNCT
fsr-3710	44	1	much	much	ADJ
fsr-3710	44	2	of	of	ADP
fsr-3710	44	3	the	the	DET
fsr-3710	44	4	literature	literature	NOUN
fsr-3710	44	5	on	on	ADP
fsr-3710	44	6	portfolio	portfolio	NOUN
fsr-3710	44	7	size	size	NOUN
fsr-3710	44	8	examines	examine	VERB
fsr-3710	44	9	what	what	PRON
fsr-3710	44	10	happens	happen	VERB
fsr-3710	44	11	to	to	ADP
fsr-3710	44	12	the	the	DET
fsr-3710	44	13	standard	standard	ADJ
fsr-3710	44	14	deviation	deviation	NOUN
fsr-3710	44	15	function	function	NOUN
fsr-3710	44	16	in	in	ADP
fsr-3710	44	17	the	the	DET
fsr-3710	44	18	e&a	e&a	PROPN
fsr-3710	44	19	study	study	NOUN
fsr-3710	44	20	if	if	SCONJ
fsr-3710	44	21	various	various	ADJ
fsr-3710	44	22	conditions	condition	NOUN
fsr-3710	44	23	are	be	AUX
fsr-3710	44	24	placed	place	VERB
fsr-3710	44	25	on	on	ADP
fsr-3710	44	26	the	the	DET
fsr-3710	44	27	types	type	NOUN
fsr-3710	44	28	of	of	ADP
fsr-3710	44	29	stocks	stock	NOUN
fsr-3710	44	30	in	in	ADP
fsr-3710	44	31	the	the	DET
fsr-3710	44	32	portfolio	portfolio	NOUN
fsr-3710	44	33	.	.	PUNCT
fsr-3710	45	1	in	in	ADP
fsr-3710	45	2	one	one	NUM
fsr-3710	45	3	of	of	ADP
fsr-3710	45	4	the	the	DET
fsr-3710	45	5	most	most	ADV
fsr-3710	45	6	cited	cite	VERB
fsr-3710	45	7	studies	study	NOUN
fsr-3710	45	8	,	,	PUNCT
fsr-3710	45	9	solnik	solnik	X
fsr-3710	45	10	(	(	PUNCT
fsr-3710	45	11	1974	1974	NUM
fsr-3710	45	12	)	)	PUNCT
fsr-3710	45	13	shows	show	VERB
fsr-3710	45	14	that	that	SCONJ
fsr-3710	45	15	more	more	ADV
fsr-3710	45	16	efficient	efficient	ADJ
fsr-3710	45	17	diversification	diversification	NOUN
fsr-3710	45	18	is	be	AUX
fsr-3710	45	19	possible	possible	ADJ
fsr-3710	45	20	when	when	SCONJ
fsr-3710	45	21	one	one	NUM
fsr-3710	45	22	considers	consider	VERB
fsr-3710	45	23	foreign	foreign	ADJ
fsr-3710	45	24	securities	security	NOUN
fsr-3710	45	25	,	,	PUNCT
fsr-3710	45	26	particularly	particularly	ADV
fsr-3710	45	27	if	if	SCONJ
fsr-3710	45	28	one	one	NUM
fsr-3710	45	29	hedges	hedge	NOUN
fsr-3710	45	30	for	for	ADP
fsr-3710	45	31	exchange	exchange	NOUN
fsr-3710	45	32	rate	rate	NOUN
fsr-3710	45	33	risk	risk	NOUN
fsr-3710	45	34	.	.	PUNCT
fsr-3710	46	1	the	the	DET
fsr-3710	46	2	greater	great	ADJ
fsr-3710	46	3	efficiency	efficiency	NOUN
fsr-3710	46	4	in	in	ADP
fsr-3710	46	5	diversi	diversi	ADJ
fsr-3710	46	6	fication	fication	NOUN
fsr-3710	46	7	is	be	AUX
fsr-3710	46	8	demonstrated	demonstrate	VERB
fsr-3710	46	9	by	by	ADP
fsr-3710	46	10	the	the	DET
fsr-3710	46	11	result	result	NOUN
fsr-3710	46	12	that	that	SCONJ
fsr-3710	46	13	e&a	e&a	PROPN
fsr-3710	46	14	’s	’s	PART
fsr-3710	46	15	standard	standard	ADJ
fsr-3710	46	16	deviation	deviation	NOUN
fsr-3710	46	17	curve	curve	NOUN
fsr-3710	46	18	declines	decline	VERB
fsr-3710	46	19	at	at	ADP
fsr-3710	46	20	a	a	DET
fsr-3710	46	21	faster	fast	ADJ
fsr-3710	46	22	rate	rate	NOUN
fsr-3710	46	23	and	and	CCONJ
fsr-3710	46	24	to	to	ADP
fsr-3710	46	25	a	a	DET
fsr-3710	46	26	lower	low	ADJ
fsr-3710	46	27	level	level	NOUN
fsr-3710	46	28	when	when	SCONJ
fsr-3710	46	29	foreign	foreign	ADJ
fsr-3710	46	30	securities	security	NOUN
fsr-3710	46	31	are	be	AUX
fsr-3710	46	32	added	add	VERB
fsr-3710	46	33	to	to	ADP
fsr-3710	46	34	the	the	DET
fsr-3710	46	35	stock	stock	NOUN
fsr-3710	46	36	population	population	NOUN
fsr-3710	46	37	.	.	PUNCT
fsr-3710	47	1	wagner	wagner	PROPN
fsr-3710	47	2	and	and	CCONJ
fsr-3710	47	3	lau	lau	PROPN
fsr-3710	47	4	(	(	PUNCT
fsr-3710	47	5	1971	1971	NUM
fsr-3710	47	6	)	)	PUNCT
fsr-3710	47	7	show	show	VERB
fsr-3710	47	8	that	that	SCONJ
fsr-3710	47	9	far	far	ADV
fsr-3710	47	10	fewer	few	ADJ
fsr-3710	47	11	stocks	stock	NOUN
fsr-3710	47	12	are	be	AUX
fsr-3710	47	13	necessary	necessary	ADJ
fsr-3710	47	14	to	to	PART
fsr-3710	47	15	achieve	achieve	VERB
fsr-3710	47	16	a	a	DET
fsr-3710	47	17	specific	specific	ADJ
fsr-3710	47	18	level	level	NOUN
fsr-3710	47	19	of	of	ADP
fsr-3710	47	20	diversification	diversification	NOUN
fsr-3710	47	21	when	when	SCONJ
fsr-3710	47	22	the	the	DET
fsr-3710	47	23	portfolio	portfolio	NOUN
fsr-3710	47	24	consists	consist	VERB
fsr-3710	47	25	of	of	ADP
fsr-3710	47	26	stocks	stock	NOUN
fsr-3710	47	27	rated	rate	VERB
fsr-3710	47	28	highly	highly	ADV
fsr-3710	47	29	by	by	ADP
fsr-3710	47	30	the	the	DET
fsr-3710	47	31	standard	standard	PROPN
fsr-3710	47	32	&	&	CCONJ
fsr-3710	47	33	poor	poor	ADJ
fsr-3710	47	34	stock	stock	NOUN
fsr-3710	47	35	guide	guide	NOUN
fsr-3710	47	36	than	than	ADP
fsr-3710	47	37	those	those	PRON
fsr-3710	47	38	rated	rate	VERB
fsr-3710	47	39	poorly	poorly	ADV
fsr-3710	47	40	.	.	PUNCT
fsr-3710	48	1	klemkosky	klemkosky	PROPN
fsr-3710	48	2	and	and	CCONJ
fsr-3710	48	3	martin	martin	PROPN
fsr-3710	48	4	(	(	PUNCT
fsr-3710	48	5	1975	1975	NUM
fsr-3710	48	6	)	)	PUNCT
fsr-3710	48	7	show	show	VERB
fsr-3710	48	8	that	that	SCONJ
fsr-3710	48	9	diversification	diversification	NOUN
fsr-3710	48	10	can	can	AUX
fsr-3710	48	11	be	be	AUX
fsr-3710	48	12	more	more	ADV
fsr-3710	48	13	readily	readily	ADV
fsr-3710	48	14	achieved	achieve	VERB
fsr-3710	48	15	with	with	ADP
fsr-3710	48	16	low	low	ADJ
fsr-3710	48	17	-	-	PUNCT
fsr-3710	48	18	beta	beta	NOUN
fsr-3710	48	19	stocks	stock	NOUN
fsr-3710	48	20	than	than	ADP
fsr-3710	48	21	with	with	ADP
fsr-3710	48	22	high	high	ADJ
fsr-3710	48	23	-	-	PUNCT
fsr-3710	48	24	beta	beta	NOUN
fsr-3710	48	25	stocks	stock	NOUN
fsr-3710	48	26	.	.	PUNCT
fsr-3710	49	1	martin	martin	PROPN
fsr-3710	49	2	and	and	CCONJ
fsr-3710	49	3	klemkosky	klemkosky	ADJ
fsr-3710	49	4	(	(	PUNCT
fsr-3710	49	5	1976	1976	NUM
fsr-3710	49	6	)	)	PUNCT
fsr-3710	49	7	show	show	VERB
fsr-3710	49	8	that	that	SCONJ
fsr-3710	49	9	diversification	diversification	NOUN
fsr-3710	49	10	can	can	AUX
fsr-3710	49	11	be	be	AUX
fsr-3710	49	12	more	more	ADV
fsr-3710	49	13	readily	readily	ADV
fsr-3710	49	14	achieved	achieve	VERB
fsr-3710	49	15	when	when	SCONJ
fsr-3710	49	16	stock	stock	NOUN
fsr-3710	49	17	classifications	classification	NOUN
fsr-3710	49	18	are	be	AUX
fsr-3710	49	19	considered	consider	VERB
fsr-3710	49	20	.	.	PUNCT
fsr-3710	50	1	their	their	PRON
fsr-3710	50	2	stock	stock	NOUN
fsr-3710	50	3	classifications	classification	NOUN
fsr-3710	50	4	included	include	VERB
fsr-3710	50	5	growth	growth	NOUN
fsr-3710	50	6	stocks	stock	NOUN
fsr-3710	50	7	,	,	PUNCT
fsr-3710	50	8	cyclical	cyclical	ADJ
fsr-3710	50	9	stocks	stock	NOUN
fsr-3710	50	10	,	,	PUNCT
fsr-3710	50	11	stable	stable	ADJ
fsr-3710	50	12	stocks	stock	NOUN
fsr-3710	50	13	,	,	PUNCT
fsr-3710	50	14	and	and	CCONJ
fsr-3710	50	15	oil	oil	NOUN
fsr-3710	50	16	stocks	stock	NOUN
fsr-3710	50	17	.	.	PUNCT
fsr-3710	51	1	all	all	PRON
fsr-3710	51	2	of	of	ADP
fsr-3710	51	3	the	the	DET
fsr-3710	51	4	above	above	ADJ
fsr-3710	51	5	studies	study	NOUN
fsr-3710	51	6	are	be	AUX
fsr-3710	51	7	empirical	empirical	ADJ
fsr-3710	51	8	.	.	PUNCT
fsr-3710	52	1	there	there	PRON
fsr-3710	52	2	are	be	VERB
fsr-3710	52	3	some	some	DET
fsr-3710	52	4	theoretical	theoretical	ADJ
fsr-3710	52	5	studies	study	NOUN
fsr-3710	52	6	that	that	PRON
fsr-3710	52	7	have	have	AUX
fsr-3710	52	8	shed	shed	VERB
fsr-3710	52	9	light	light	NOUN
fsr-3710	52	10	on	on	ADP
fsr-3710	52	11	the	the	DET
fsr-3710	52	12	topic	topic	NOUN
fsr-3710	52	13	of	of	ADP
fsr-3710	52	14	portfolio	portfolio	NOUN
fsr-3710	52	15	size	size	NOUN
fsr-3710	52	16	and	and	CCONJ
fsr-3710	52	17	diversification	diversification	NOUN
fsr-3710	52	18	,	,	PUNCT
fsr-3710	52	19	goldsmith	goldsmith	NOUN
fsr-3710	52	20	(	(	PUNCT
fsr-3710	52	21	1976	1976	NUM
fsr-3710	52	22	)	)	PUNCT
fsr-3710	52	23	shows	show	VERB
fsr-3710	52	24	that	that	SCONJ
fsr-3710	52	25	not	not	PART
fsr-3710	52	26	only	only	ADV
fsr-3710	52	27	do	do	AUX
fsr-3710	52	28	transaction	transaction	NOUN
fsr-3710	52	29	fees	fee	NOUN
fsr-3710	52	30	limit	limit	VERB
fsr-3710	52	31	the	the	DET
fsr-3710	52	32	size	size	NOUN
fsr-3710	52	33	of	of	ADP
fsr-3710	52	34	the	the	DET
fsr-3710	52	35	number	number	NOUN
fsr-3710	52	36	of	of	ADP
fsr-3710	52	37	securities	security	NOUN
fsr-3710	52	38	in	in	ADP
fsr-3710	52	39	a	a	DET
fsr-3710	52	40	portfolio	portfolio	NOUN
fsr-3710	52	41	,	,	PUNCT
fsr-3710	52	42	but	but	CCONJ
fsr-3710	52	43	they	they	PRON
fsr-3710	52	44	will	will	AUX
fsr-3710	52	45	also	also	ADV
fsr-3710	52	46	cause	cause	VERB
fsr-3710	52	47	the	the	DET
fsr-3710	52	48	optimal	optimal	ADJ
fsr-3710	52	49	number	number	NOUN
fsr-3710	52	50	of	of	ADP
fsr-3710	52	51	securities	security	NOUN
fsr-3710	52	52	to	to	PART
fsr-3710	52	53	hold	hold	VERB
fsr-3710	52	54	in	in	ADP
fsr-3710	52	55	a	a	DET
fsr-3710	52	56	76	76	NUM
fsr-3710	52	57	financial	financial	ADJ
fsr-3710	52	58	services	service	NOUN
fsr-3710	52	59	review	review	NOUN
fsr-3710	52	60	,	,	PUNCT
fsr-3710	52	61	2(2	2(2	NUM
fsr-3710	52	62	)	)	PUNCT
fsr-3710	52	63	1993	1993	NUM
fsr-3710	52	64	portfolio	portfolio	NOUN
fsr-3710	52	65	a	a	DET
fsr-3710	52	66	function	function	NOUN
fsr-3710	52	67	of	of	ADP
fsr-3710	52	68	an	an	DET
fsr-3710	52	69	investor	investor	NOUN
fsr-3710	52	70	’s	’s	PART
fsr-3710	52	71	initial	initial	ADJ
fsr-3710	52	72	wealth	wealth	NOUN
fsr-3710	52	73	.	.	PUNCT
fsr-3710	53	1	conine	conine	NOUN
fsr-3710	53	2	and	and	CCONJ
fsr-3710	53	3	tamarkin	tamarkin	PROPN
fsr-3710	53	4	(	(	PUNCT
fsr-3710	53	5	1981	1981	NUM
fsr-3710	53	6	)	)	PUNCT
fsr-3710	53	7	show	show	VERB
fsr-3710	53	8	that	that	SCONJ
fsr-3710	53	9	investor	investor	NOUN
fsr-3710	53	10	preference	preference	NOUN
fsr-3710	53	11	for	for	ADP
fsr-3710	53	12	positive	positive	ADJ
fsr-3710	53	13	skewness	skewness	NOUN
fsr-3710	53	14	combined	combine	VERB
fsr-3710	53	15	with	with	ADP
fsr-3710	53	16	other	other	ADJ
fsr-3710	53	17	assump	assump	NOUN
fsr-3710	53	18	tions	tion	NOUN
fsr-3710	53	19	of	of	ADP
fsr-3710	53	20	perfect	perfect	ADJ
fsr-3710	53	21	capital	capital	NOUN
fsr-3710	53	22	market	market	NOUN
fsr-3710	53	23	may	may	AUX
fsr-3710	53	24	severely	severely	ADV
fsr-3710	53	25	restrict	restrict	VERB
fsr-3710	53	26	the	the	DET
fsr-3710	53	27	number	number	NOUN
fsr-3710	53	28	of	of	ADP
fsr-3710	53	29	securities	security	NOUN
fsr-3710	53	30	held	hold	VERB
fsr-3710	53	31	by	by	ADP
fsr-3710	53	32	an	an	DET
fsr-3710	53	33	individual	individual	NOUN
fsr-3710	53	34	even	even	ADV
fsr-3710	53	35	without	without	ADP
fsr-3710	53	36	transaction	transaction	NOUN
fsr-3710	53	37	fees	fee	NOUN
fsr-3710	53	38	.	.	PUNCT
fsr-3710	54	1	measures	measure	NOUN
fsr-3710	54	2	of	of	ADP
fsr-3710	54	3	diversification	diversification	NOUN
fsr-3710	54	4	most	most	ADJ
fsr-3710	54	5	of	of	ADP
fsr-3710	54	6	the	the	DET
fsr-3710	54	7	literature	literature	NOUN
fsr-3710	54	8	makes	make	VERB
fsr-3710	54	9	no	no	DET
fsr-3710	54	10	statements	statement	NOUN
fsr-3710	54	11	about	about	ADP
fsr-3710	54	12	how	how	SCONJ
fsr-3710	54	13	to	to	PART
fsr-3710	54	14	measure	measure	VERB
fsr-3710	54	15	the	the	DET
fsr-3710	54	16	degree	degree	NOUN
fsr-3710	54	17	of	of	ADP
fsr-3710	54	18	diversification	diversification	NOUN
fsr-3710	54	19	.	.	PUNCT
fsr-3710	55	1	as	as	SCONJ
fsr-3710	55	2	shown	show	VERB
fsr-3710	55	3	above	above	ADV
fsr-3710	55	4	,	,	PUNCT
fsr-3710	55	5	the	the	DET
fsr-3710	55	6	most	most	ADV
fsr-3710	55	7	common	common	ADJ
fsr-3710	55	8	measure	measure	NOUN
fsr-3710	55	9	of	of	ADP
fsr-3710	55	10	diversification	diversification	NOUN
fsr-3710	55	11	is	be	AUX
fsr-3710	55	12	simply	simply	ADV
fsr-3710	55	13	to	to	PART
fsr-3710	55	14	count	count	VERB
fsr-3710	55	15	the	the	DET
fsr-3710	55	16	number	number	NOUN
fsr-3710	55	17	of	of	ADP
fsr-3710	55	18	securities	security	NOUN
fsr-3710	55	19	in	in	ADP
fsr-3710	55	20	the	the	DET
fsr-3710	55	21	portfolio	portfolio	NOUN
fsr-3710	55	22	.	.	PUNCT
fsr-3710	56	1	however	however	ADV
fsr-3710	56	2	,	,	PUNCT
fsr-3710	56	3	this	this	DET
fsr-3710	56	4	naive	naive	ADJ
fsr-3710	56	5	measure	measure	NOUN
fsr-3710	56	6	has	have	AUX
fsr-3710	56	7	meaning	mean	VERB
fsr-3710	56	8	only	only	ADV
fsr-3710	56	9	when	when	SCONJ
fsr-3710	56	10	the	the	DET
fsr-3710	56	11	portfolio	portfolio	NOUN
fsr-3710	56	12	is	be	AUX
fsr-3710	56	13	evenly	evenly	ADV
fsr-3710	56	14	invested	invest	VERB
fsr-3710	56	15	across	across	ADP
fsr-3710	56	16	all	all	DET
fsr-3710	56	17	holdings	holding	NOUN
fsr-3710	56	18	,	,	PUNCT
fsr-3710	56	19	and	and	CCONJ
fsr-3710	56	20	the	the	DET
fsr-3710	56	21	point	point	NOUN
fsr-3710	56	22	of	of	ADP
fsr-3710	56	23	this	this	DET
fsr-3710	56	24	paper	paper	NOUN
fsr-3710	56	25	is	be	AUX
fsr-3710	56	26	to	to	PART
fsr-3710	56	27	define	define	VERB
fsr-3710	56	28	a	a	DET
fsr-3710	56	29	more	more	ADV
fsr-3710	56	30	effective	effective	ADJ
fsr-3710	56	31	measure	measure	NOUN
fsr-3710	56	32	when	when	SCONJ
fsr-3710	56	33	security	security	NOUN
fsr-3710	56	34	holdings	holding	NOUN
fsr-3710	56	35	are	be	AUX
fsr-3710	56	36	not	not	PART
fsr-3710	56	37	evenly	evenly	ADV
fsr-3710	56	38	distributed	distribute	VERB
fsr-3710	56	39	.	.	PUNCT
fsr-3710	57	1	the	the	DET
fsr-3710	57	2	one	one	NUM
fsr-3710	57	3	other	other	ADJ
fsr-3710	57	4	method	method	NOUN
fsr-3710	57	5	suggested	suggest	VERB
fsr-3710	57	6	in	in	ADP
fsr-3710	57	7	the	the	DET
fsr-3710	57	8	literature	literature	NOUN
fsr-3710	57	9	for	for	ADP
fsr-3710	57	10	measuring	measure	VERB
fsr-3710	57	11	the	the	DET
fsr-3710	57	12	degree	degree	NOUN
fsr-3710	57	13	of	of	ADP
fsr-3710	57	14	diversification	diversification	NOUN
fsr-3710	57	15	of	of	ADP
fsr-3710	57	16	a	a	DET
fsr-3710	57	17	portfolio	portfolio	NOUN
fsr-3710	57	18	is	be	AUX
fsr-3710	57	19	to	to	PART
fsr-3710	57	20	examine	examine	VERB
fsr-3710	57	21	the	the	DET
fsr-3710	57	22	correlation	correlation	NOUN
fsr-3710	57	23	coefficient	coefficient	NOUN
fsr-3710	57	24	between	between	ADP
fsr-3710	57	25	the	the	DET
fsr-3710	57	26	rates	rate	NOUN
fsr-3710	57	27	of	of	ADP
fsr-3710	57	28	return	return	NOUN
fsr-3710	57	29	on	on	ADP
fsr-3710	57	30	that	that	DET
fsr-3710	57	31	portfolio	portfolio	NOUN
fsr-3710	57	32	and	and	CCONJ
fsr-3710	57	33	the	the	DET
fsr-3710	57	34	rates	rate	NOUN
fsr-3710	57	35	of	of	ADP
fsr-3710	57	36	return	return	NOUN
fsr-3710	57	37	on	on	ADP
fsr-3710	57	38	a	a	DET
fsr-3710	57	39	surrogate	surrogate	NOUN
fsr-3710	57	40	for	for	ADP
fsr-3710	57	41	the	the	DET
fsr-3710	57	42	market	market	NOUN
fsr-3710	57	43	portfolio	portfolio	NOUN
fsr-3710	57	44	(	(	PUNCT
fsr-3710	57	45	see	see	VERB
fsr-3710	57	46	sharpe	sharpe	PROPN
fsr-3710	57	47	and	and	CCONJ
fsr-3710	57	48	alexander	alexander	PROPN
fsr-3710	57	49	(	(	PUNCT
fsr-3710	57	50	1990	1990	NUM
fsr-3710	57	51	,	,	PUNCT
fsr-3710	57	52	p.	p.	NOUN
fsr-3710	57	53	654	654	NUM
fsr-3710	57	54	)	)	PUNCT
fsr-3710	57	55	)	)	PUNCT
fsr-3710	57	56	.	.	PUNCT
fsr-3710	58	1	this	this	DET
fsr-3710	58	2	measure	measure	NOUN
fsr-3710	58	3	obviously	obviously	ADV
fsr-3710	58	4	requires	require	VERB
fsr-3710	58	5	data	datum	NOUN
fsr-3710	58	6	from	from	ADP
fsr-3710	58	7	a	a	DET
fsr-3710	58	8	period	period	NOUN
fsr-3710	58	9	of	of	ADP
fsr-3710	58	10	several	several	ADJ
fsr-3710	58	11	years	year	NOUN
fsr-3710	58	12	and	and	CCONJ
fsr-3710	58	13	poses	pose	VERB
fsr-3710	58	14	a	a	DET
fsr-3710	58	15	serious	serious	ADJ
fsr-3710	58	16	estimation	estimation	NOUN
fsr-3710	58	17	problem	problem	NOUN
fsr-3710	58	18	any	any	DET
fsr-3710	58	19	time	time	NOUN
fsr-3710	58	20	the	the	DET
fsr-3710	58	21	portfolio	portfolio	NOUN
fsr-3710	58	22	’s	’s	PART
fsr-3710	58	23	composition	composition	NOUN
fsr-3710	58	24	has	have	AUX
fsr-3710	58	25	changed	change	VERB
fsr-3710	58	26	.	.	PUNCT
fsr-3710	59	1	iii	iii	X
fsr-3710	59	2	.	.	PUNCT
fsr-3710	60	1	defining	define	VERB
fsr-3710	60	2	new	new	ADJ
fsr-3710	60	3	measures	measure	NOUN
fsr-3710	60	4	of	of	ADP
fsr-3710	60	5	diversification	diversification	NOUN
fsr-3710	60	6	in	in	ADP
fsr-3710	60	7	this	this	DET
fsr-3710	60	8	section	section	NOUN
fsr-3710	60	9	of	of	ADP
fsr-3710	60	10	the	the	DET
fsr-3710	60	11	paper	paper	NOUN
fsr-3710	60	12	,	,	PUNCT
fsr-3710	60	13	we	we	PRON
fsr-3710	60	14	define	define	VERB
fsr-3710	60	15	various	various	ADJ
fsr-3710	60	16	indices	index	NOUN
fsr-3710	60	17	of	of	ADP
fsr-3710	60	18	diversification	diversification	NOUN
fsr-3710	60	19	that	that	PRON
fsr-3710	60	20	could	could	AUX
fsr-3710	60	21	be	be	AUX
fsr-3710	60	22	used	use	VERB
fsr-3710	60	23	at	at	ADP
fsr-3710	60	24	a	a	DET
fsr-3710	60	25	point	point	NOUN
fsr-3710	60	26	in	in	ADP
fsr-3710	60	27	time	time	NOUN
fsr-3710	60	28	.	.	PUNCT
fsr-3710	61	1	to	to	PART
fsr-3710	61	2	dream	dream	VERB
fsr-3710	61	3	up	up	ADP
fsr-3710	61	4	such	such	ADJ
fsr-3710	61	5	measures	measure	NOUN
fsr-3710	61	6	would	would	AUX
fsr-3710	61	7	be	be	AUX
fsr-3710	61	8	haphazard	haphazard	ADJ
fsr-3710	61	9	and	and	CCONJ
fsr-3710	61	10	arbitrary	arbitrary	ADJ
fsr-3710	61	11	.	.	PUNCT
fsr-3710	62	1	therefore	therefore	ADV
fsr-3710	62	2	,	,	PUNCT
fsr-3710	62	3	the	the	DET
fsr-3710	62	4	authors	author	NOUN
fsr-3710	62	5	have	have	AUX
fsr-3710	62	6	elected	elect	VERB
fsr-3710	62	7	to	to	PART
fsr-3710	62	8	examine	examine	VERB
fsr-3710	62	9	measures	measure	NOUN
fsr-3710	62	10	of	of	ADP
fsr-3710	62	11	diversification	diversification	NOUN
fsr-3710	62	12	that	that	PRON
fsr-3710	62	13	have	have	AUX
fsr-3710	62	14	been	be	AUX
fsr-3710	62	15	used	use	VERB
fsr-3710	62	16	in	in	ADP
fsr-3710	62	17	the	the	DET
fsr-3710	62	18	industrial	industrial	ADJ
fsr-3710	62	19	organization	organization	NOUN
fsr-3710	62	20	literature	literature	NOUN
fsr-3710	62	21	on	on	ADP
fsr-3710	62	22	concentration	concentration	NOUN
fsr-3710	62	23	?	?	PUNCT
fsr-3710	63	1	a	a	DET
fsr-3710	63	2	thorough	thorough	ADJ
fsr-3710	63	3	review	review	NOUN
fsr-3710	63	4	of	of	ADP
fsr-3710	63	5	the	the	DET
fsr-3710	63	6	literature	literature	NOUN
fsr-3710	63	7	revealed	reveal	VERB
fsr-3710	63	8	five	five	NUM
fsr-3710	63	9	indices	index	NOUN
fsr-3710	63	10	that	that	PRON
fsr-3710	63	11	would	would	AUX
fsr-3710	63	12	be	be	AUX
fsr-3710	63	13	plausible	plausible	ADJ
fsr-3710	63	14	to	to	PART
fsr-3710	63	15	measure	measure	VERB
fsr-3710	63	16	portfolio	portfolio	NOUN
fsr-3710	63	17	diversification	diversification	NOUN
fsr-3710	63	18	.	.	PUNCT
fsr-3710	64	1	in	in	ADP
fsr-3710	64	2	all	all	DET
fsr-3710	64	3	cases	case	NOUN
fsr-3710	64	4	,	,	PUNCT
fsr-3710	64	5	there	there	PRON
fsr-3710	64	6	is	be	VERB
fsr-3710	64	7	no	no	DET
fsr-3710	64	8	profound	profound	ADJ
fsr-3710	64	9	reason	reason	NOUN
fsr-3710	64	10	for	for	ADP
fsr-3710	64	11	the	the	DET
fsr-3710	64	12	use	use	NOUN
fsr-3710	64	13	of	of	ADP
fsr-3710	64	14	a	a	DET
fsr-3710	64	15	particular	particular	ADJ
fsr-3710	64	16	functional	functional	ADJ
fsr-3710	64	17	form	form	NOUN
fsr-3710	64	18	,	,	PUNCT
fsr-3710	64	19	other	other	ADJ
fsr-3710	64	20	than	than	SCONJ
fsr-3710	64	21	it	it	PRON
fsr-3710	64	22	is	be	AUX
fsr-3710	64	23	mathematically	mathematically	ADV
fsr-3710	64	24	different	different	ADJ
fsr-3710	64	25	and	and	CCONJ
fsr-3710	64	26	may	may	AUX
fsr-3710	64	27	empirically	empirically	ADV
fsr-3710	64	28	work	work	VERB
fsr-3710	64	29	better	well	ADV
fsr-3710	64	30	than	than	ADP
fsr-3710	64	31	other	other	ADJ
fsr-3710	64	32	forms	form	NOUN
fsr-3710	64	33	.	.	PUNCT
fsr-3710	65	1	the	the	DET
fsr-3710	65	2	first	first	ADJ
fsr-3710	65	3	one	one	NUM
fsr-3710	65	4	is	be	AUX
fsr-3710	65	5	the	the	DET
fsr-3710	65	6	complement	complement	NOUN
fsr-3710	65	7	of	of	ADP
fsr-3710	65	8	the	the	DET
fsr-3710	65	9	herfindahl	herfindahl	NOUN
fsr-3710	65	10	index	index	NOUN
fsr-3710	65	11	,	,	PUNCT
fsr-3710	65	12	perhaps	perhaps	ADV
fsr-3710	65	13	the	the	DET
fsr-3710	65	14	most	most	ADV
fsr-3710	65	15	widely	widely	ADV
fsr-3710	65	16	used	use	VERB
fsr-3710	65	17	measure	measure	NOUN
fsr-3710	65	18	of	of	ADP
fsr-3710	65	19	economic	economic	ADJ
fsr-3710	65	20	concentration.3	concentration.3	PROPN
fsr-3710	65	21	thus	thus	ADV
fsr-3710	65	22	,	,	PUNCT
fsr-3710	65	23	our	our	PRON
fsr-3710	65	24	first	first	ADJ
fsr-3710	65	25	proposed	propose	VERB
fsr-3710	65	26	index	index	NOUN
fsr-3710	65	27	is	be	AUX
fsr-3710	65	28	di(l)=l	di(l)=l	PROPN
fsr-3710	65	29	-	-	PUNCT
fsr-3710	65	30	hi	hi	NOUN
fsr-3710	65	31	=	=	NOUN
fsr-3710	65	32	l	l	NOUN
fsr-3710	65	33	-	-	PROPN
fsr-3710	65	34	i	i	PRON
fsr-3710	65	35	wi	wi	PROPN
fsr-3710	65	36	’	'	PUNCT
fsr-3710	65	37	i	i	PROPN
fsr-3710	65	38	=	=	NOUN
fsr-3710	65	39	l	l	NOUN
fsr-3710	65	40	where	where	SCONJ
fsr-3710	65	41	di	di	NOUN
fsr-3710	65	42	=	=	PUNCT
fsr-3710	65	43	diversification	diversification	NOUN
fsr-3710	65	44	index	index	NOUN
fsr-3710	65	45	,	,	PUNCT
fsr-3710	65	46	hi	hi	INTJ
fsr-3710	65	47	=	=	NOUN
fsr-3710	65	48	herfindahl	herfindahl	NOUN
fsr-3710	65	49	index	index	NOUN
fsr-3710	65	50	.	.	PUNCT
fsr-3710	66	1	an	an	DET
fsr-3710	66	2	index	index	NOUN
fsr-3710	66	3	of	of	ADP
fsr-3710	66	4	portflio	portflio	NOUN
fsr-3710	66	5	diversifxation	diversifxation	NOUN
fsr-3710	66	6	77	77	NUM
fsr-3710	66	7	wi	wi	PROPN
fsr-3710	66	8	=	=	PUNCT
fsr-3710	66	9	the	the	DET
fsr-3710	66	10	proportion	proportion	NOUN
fsr-3710	66	11	of	of	ADP
fsr-3710	66	12	portfolio	portfolio	NOUN
fsr-3710	66	13	market	market	NOUN
fsr-3710	66	14	value	value	NOUN
fsr-3710	66	15	invested	invest	VERB
fsr-3710	66	16	in	in	ADP
fsr-3710	66	17	security	security	NOUN
fsr-3710	66	18	i	i	PRON
fsr-3710	66	19	(	(	PUNCT
fsr-3710	66	20	in	in	ADP
fsr-3710	66	21	decimal	decimal	ADJ
fsr-3710	66	22	form	form	NOUN
fsr-3710	66	23	)	)	PUNCT
fsr-3710	66	24	,	,	PUNCT
fsr-3710	66	25	and	and	CCONJ
fsr-3710	66	26	n	n	CCONJ
fsr-3710	66	27	=	=	PRON
fsr-3710	66	28	the	the	DET
fsr-3710	66	29	number	number	NOUN
fsr-3710	66	30	of	of	ADP
fsr-3710	66	31	securities	security	NOUN
fsr-3710	66	32	in	in	ADP
fsr-3710	66	33	the	the	DET
fsr-3710	66	34	portfolio	portfolio	NOUN
fsr-3710	66	35	.	.	PUNCT
fsr-3710	67	1	our	our	PRON
fsr-3710	67	2	use	use	NOUN
fsr-3710	67	3	of	of	ADP
fsr-3710	67	4	the	the	DET
fsr-3710	67	5	complement	complement	NOUN
fsr-3710	67	6	of	of	ADP
fsr-3710	67	7	this	this	DET
fsr-3710	67	8	index	index	NOUN
fsr-3710	67	9	is	be	AUX
fsr-3710	67	10	for	for	ADP
fsr-3710	67	11	the	the	DET
fsr-3710	67	12	stylistic	stylistic	ADJ
fsr-3710	67	13	purpose	purpose	NOUN
fsr-3710	67	14	of	of	ADP
fsr-3710	67	15	altering	alter	VERB
fsr-3710	67	16	the	the	DET
fsr-3710	67	17	index	index	NOUN
fsr-3710	67	18	value	value	NOUN
fsr-3710	67	19	so	so	SCONJ
fsr-3710	67	20	that	that	SCONJ
fsr-3710	67	21	zero	zero	NUM
fsr-3710	67	22	represents	represent	VERB
fsr-3710	67	23	a	a	DET
fsr-3710	67	24	portfolio	portfolio	NOUN
fsr-3710	67	25	with	with	ADP
fsr-3710	67	26	absolutely	absolutely	ADV
fsr-3710	67	27	no	no	PRON
fsr-3710	67	28	diversification	diversification	NOUN
fsr-3710	67	29	(	(	PUNCT
fsr-3710	67	30	a	a	DET
fsr-3710	67	31	one	one	NUM
fsr-3710	67	32	security	security	NOUN
fsr-3710	67	33	portfolio	portfolio	NOUN
fsr-3710	67	34	)	)	PUNCT
fsr-3710	67	35	and	and	CCONJ
fsr-3710	67	36	1	1	NUM
fsr-3710	67	37	.o	.o	NOUN
fsr-3710	67	38	would	would	AUX
fsr-3710	67	39	represent	represent	VERB
fsr-3710	67	40	the	the	DET
fsr-3710	67	41	ultimate	ultimate	ADJ
fsr-3710	67	42	in	in	ADP
fsr-3710	67	43	diversification.4	diversification.4	PROPN
fsr-3710	67	44	to	to	PART
fsr-3710	67	45	facilitate	facilitate	VERB
fsr-3710	67	46	the	the	DET
fsr-3710	67	47	reader	reader	NOUN
fsr-3710	67	48	developing	develop	VERB
fsr-3710	67	49	a	a	DET
fsr-3710	67	50	feel	feel	NOUN
fsr-3710	67	51	for	for	ADP
fsr-3710	67	52	these	these	DET
fsr-3710	67	53	various	various	ADJ
fsr-3710	67	54	indices	index	NOUN
fsr-3710	67	55	,	,	PUNCT
fsr-3710	67	56	index	index	NOUN
fsr-3710	67	57	values	value	NOUN
fsr-3710	67	58	for	for	ADP
fsr-3710	67	59	nine	nine	NUM
fsr-3710	67	60	sample	sample	NOUN
fsr-3710	67	61	portfolios	portfolio	NOUN
fsr-3710	67	62	are	be	AUX
fsr-3710	67	63	shown	show	VERB
fsr-3710	67	64	in	in	ADP
fsr-3710	67	65	table	table	NOUN
fsr-3710	67	66	ia	ia	PROPN
fsr-3710	67	67	.	.	PUNCT
fsr-3710	68	1	(	(	PUNCT
fsr-3710	68	2	the	the	DET
fsr-3710	68	3	compositions	composition	NOUN
fsr-3710	68	4	of	of	ADP
fsr-3710	68	5	the	the	DET
fsr-3710	68	6	various	various	ADJ
fsr-3710	68	7	portfolios	portfolio	NOUN
fsr-3710	68	8	are	be	AUX
fsr-3710	68	9	listed	list	VERB
fsr-3710	68	10	in	in	ADP
fsr-3710	68	11	table	table	NOUN
fsr-3710	68	12	1b	1b	NUM
fsr-3710	68	13	.	.	PUNCT
fsr-3710	68	14	)	)	PUNCT
fsr-3710	69	1	the	the	DET
fsr-3710	69	2	first	first	ADJ
fsr-3710	69	3	portfolio	portfolio	NOUN
fsr-3710	69	4	(	(	PUNCT
fsr-3710	69	5	portfolio	portfolio	NOUN
fsr-3710	69	6	a	a	PRON
fsr-3710	69	7	)	)	PUNCT
fsr-3710	69	8	contains	contain	VERB
fsr-3710	69	9	only	only	ADV
fsr-3710	69	10	one	one	NUM
fsr-3710	69	11	security	security	NOUN
fsr-3710	69	12	and	and	CCONJ
fsr-3710	69	13	thus	thus	ADV
fsr-3710	69	14	has	have	VERB
fsr-3710	69	15	absolutely	absolutely	ADV
fsr-3710	69	16	no	no	DET
fsr-3710	69	17	diversification	diversification	NOUN
fsr-3710	69	18	.	.	PUNCT
fsr-3710	70	1	the	the	DET
fsr-3710	70	2	ninth	ninth	ADJ
fsr-3710	70	3	portfolio	portfolio	NOUN
fsr-3710	70	4	(	(	PUNCT
fsr-3710	70	5	portfolio	portfolio	NOUN
fsr-3710	70	6	i	i	NOUN
fsr-3710	70	7	)	)	PUNCT
fsr-3710	70	8	contains	contain	VERB
fsr-3710	70	9	100	100	NUM
fsr-3710	70	10	evenly	evenly	ADV
fsr-3710	70	11	distributed	distribute	VERB
fsr-3710	70	12	securities	security	NOUN
fsr-3710	70	13	.	.	PUNCT
fsr-3710	71	1	note	note	VERB
fsr-3710	71	2	that	that	SCONJ
fsr-3710	71	3	for	for	ADP
fsr-3710	71	4	our	our	PRON
fsr-3710	71	5	first	first	ADJ
fsr-3710	71	6	index	index	NOUN
fsr-3710	71	7	the	the	DET
fsr-3710	71	8	portfolio	portfolio	NOUN
fsr-3710	71	9	with	with	ADP
fsr-3710	71	10	only	only	ADV
fsr-3710	71	11	one	one	NUM
fsr-3710	71	12	security	security	NOUN
fsr-3710	71	13	has	have	VERB
fsr-3710	71	14	an	an	DET
fsr-3710	71	15	index	index	NOUN
fsr-3710	71	16	value	value	NOUN
fsr-3710	71	17	of	of	ADP
fsr-3710	71	18	zero	zero	NUM
fsr-3710	71	19	,	,	PUNCT
fsr-3710	71	20	and	and	CCONJ
fsr-3710	71	21	the	the	DET
fsr-3710	71	22	portfolio	portfolio	NOUN
fsr-3710	71	23	of	of	ADP
fsr-3710	71	24	100	100	NUM
fsr-3710	71	25	securities	security	NOUN
fsr-3710	71	26	has	have	VERB
fsr-3710	71	27	an	an	DET
fsr-3710	71	28	index	index	NOUN
fsr-3710	71	29	value	value	NOUN
fsr-3710	71	30	of	of	ADP
fsr-3710	71	31	.99	.99	NUM
fsr-3710	71	32	.	.	PUNCT
fsr-3710	72	1	the	the	DET
fsr-3710	72	2	second	second	ADJ
fsr-3710	72	3	index	index	NOUN
fsr-3710	72	4	we	we	PRON
fsr-3710	72	5	consider	consider	VERB
fsr-3710	72	6	is	be	AUX
fsr-3710	72	7	the	the	DET
fsr-3710	72	8	complement	complement	NOUN
fsr-3710	72	9	of	of	ADP
fsr-3710	72	10	one	one	NUM
fsr-3710	72	11	originated	originate	VERB
fsr-3710	72	12	by	by	ADP
fsr-3710	72	13	rosenbluth	rosenbluth	ADV
fsr-3710	72	14	(	(	PUNCT
fsr-3710	72	15	1961	1961	NUM
fsr-3710	72	16	)	)	PUNCT
fsr-3710	72	17	and	and	CCONJ
fsr-3710	72	18	described	describe	VERB
fsr-3710	72	19	in	in	ADP
fsr-3710	72	20	marfels	marfel	NOUN
fsr-3710	72	21	(	(	PUNCT
fsr-3710	72	22	1971	1971	NUM
fsr-3710	72	23	)	)	PUNCT
fsr-3710	72	24	.	.	PUNCT
fsr-3710	73	1	in	in	ADP
fsr-3710	73	2	this	this	DET
fsr-3710	73	3	index	index	NOUN
fsr-3710	73	4	,	,	PUNCT
fsr-3710	73	5	security	security	NOUN
fsr-3710	73	6	holdings	holding	NOUN
fsr-3710	73	7	are	be	AUX
fsr-3710	73	8	ranked	rank	VERB
fsr-3710	73	9	in	in	ADP
fsr-3710	73	10	descending	descend	VERB
fsr-3710	73	11	order	order	NOUN
fsr-3710	73	12	by	by	ADP
fsr-3710	73	13	size	size	NOUN
fsr-3710	73	14	with	with	ADP
fsr-3710	73	15	the	the	DET
fsr-3710	73	16	i	i	PROPN
fsr-3710	73	17	-	-	PUNCT
fsr-3710	73	18	th	th	X
fsr-3710	73	19	firm	firm	NOUN
fsr-3710	73	20	receiving	receive	VERB
fsr-3710	73	21	rank	rank	NOUN
fsr-3710	73	22	i.5	i.5	NOUN
fsr-3710	73	23	the	the	DET
fsr-3710	73	24	index	index	NOUN
fsr-3710	73	25	value	value	NOUN
fsr-3710	73	26	is	be	AUX
fsr-3710	73	27	di(2	di(2	PROPN
fsr-3710	73	28	)	)	PUNCT
fsr-3710	73	29	=	=	SYM
fsr-3710	73	30	1	1	NUM
fsr-3710	73	31	l/(2	l/(2	NOUN
fsr-3710	73	32	x	x	X
fsr-3710	73	33	i	i	PRON
fsr-3710	73	34	i(wi	i(wi	VERB
fsr-3710	73	35	)	)	PUNCT
fsr-3710	73	36	1	1	NUM
fsr-3710	73	37	)	)	PUNCT
fsr-3710	73	38	.	.	PUNCT
fsr-3710	74	1	i	i	PRON
fsr-3710	74	2	=	=	NOUN
fsr-3710	74	3	l	l	NOUN
fsr-3710	74	4	note	note	NOUN
fsr-3710	74	5	that	that	SCONJ
fsr-3710	74	6	in	in	ADP
fsr-3710	74	7	table	table	NOUN
fsr-3710	74	8	1a	1a	NOUN
fsr-3710	74	9	these	these	DET
fsr-3710	74	10	first	first	ADJ
fsr-3710	74	11	two	two	NUM
fsr-3710	74	12	indices	index	NOUN
fsr-3710	74	13	and	and	CCONJ
fsr-3710	74	14	the	the	DET
fsr-3710	74	15	next	next	ADJ
fsr-3710	74	16	one	one	NUM
fsr-3710	74	17	to	to	PART
fsr-3710	74	18	be	be	AUX
fsr-3710	74	19	introduced	introduce	VERB
fsr-3710	74	20	provide	provide	VERB
fsr-3710	74	21	identical	identical	ADJ
fsr-3710	74	22	values	value	NOUN
fsr-3710	74	23	for	for	ADP
fsr-3710	74	24	portfolios	portfolio	NOUN
fsr-3710	74	25	g	g	NOUN
fsr-3710	74	26	,	,	PUNCT
fsr-3710	74	27	h	h	NOUN
fsr-3710	74	28	,	,	PUNCT
fsr-3710	74	29	and	and	CCONJ
fsr-3710	74	30	i.	i.	NOUN
fsr-3710	74	31	it	it	PRON
fsr-3710	74	32	is	be	AUX
fsr-3710	74	33	easily	easily	ADV
fsr-3710	74	34	shown	show	VERB
fsr-3710	74	35	that	that	SCONJ
fsr-3710	74	36	all	all	DET
fsr-3710	74	37	three	three	NUM
fsr-3710	74	38	indices	index	NOUN
fsr-3710	74	39	are	be	AUX
fsr-3710	74	40	mathematically	mathematically	ADV
fsr-3710	74	41	equivalent	equivalent	ADJ
fsr-3710	74	42	to	to	ADP
fsr-3710	74	43	the	the	DET
fsr-3710	74	44	term	term	NOUN
fsr-3710	75	1	[	[	X
fsr-3710	75	2	l	l	X
fsr-3710	75	3	l	l	NOUN
fsr-3710	75	4	/	/	SYM
fsr-3710	75	5	n	n	CCONJ
fsr-3710	75	6	]	]	X
fsr-3710	75	7	when	when	SCONJ
fsr-3710	75	8	security	security	NOUN
fsr-3710	75	9	holdings	holding	NOUN
fsr-3710	75	10	are	be	AUX
fsr-3710	75	11	evenly	evenly	ADV
fsr-3710	75	12	held	hold	VERB
fsr-3710	75	13	.	.	PUNCT
fsr-3710	76	1	the	the	DET
fsr-3710	76	2	third	third	ADJ
fsr-3710	76	3	index	index	NOUN
fsr-3710	76	4	is	be	AUX
fsr-3710	76	5	defined	define	VERB
fsr-3710	76	6	by	by	ADP
fsr-3710	76	7	marfels	marfel	NOUN
fsr-3710	76	8	(	(	PUNCT
fsr-3710	76	9	197	197	NUM
fsr-3710	76	10	1	1	NUM
fsr-3710	76	11	)	)	PUNCT
fsr-3710	76	12	as	as	ADP
fsr-3710	76	13	the	the	DET
fsr-3710	76	14	“	"	PUNCT
fsr-3710	76	15	exponential	exponential	NOUN
fsr-3710	76	16	of	of	ADP
fsr-3710	76	17	the	the	DET
fsr-3710	76	18	entropy	entropy	NOUN
fsr-3710	76	19	measure	measure	NOUN
fsr-3710	76	20	”	"	PUNCT
fsr-3710	76	21	and	and	CCONJ
fsr-3710	76	22	is	be	AUX
fsr-3710	76	23	computed	compute	VERB
fsr-3710	76	24	as	as	ADP
fsr-3710	76	25	n	n	PRON
fsr-3710	76	26	di(3	di(3	PROPN
fsr-3710	76	27	)	)	PUNCT
fsr-3710	76	28	=	=	SYM
fsr-3710	77	1	1	1	NUM
fsr-3710	77	2	n	n	PRON
fsr-3710	77	3	wiawi	wiawi	NOUN
fsr-3710	77	4	.	.	PUNCT
fsr-3710	78	1	i=2	i=2	PROPN
fsr-3710	78	2	a	a	DET
fsr-3710	78	3	fourth	fourth	ADJ
fsr-3710	78	4	measure	measure	NOUN
fsr-3710	78	5	of	of	ADP
fsr-3710	78	6	diversification	diversification	NOUN
fsr-3710	78	7	is	be	AUX
fsr-3710	78	8	the	the	DET
fsr-3710	78	9	complement	complement	NOUN
fsr-3710	78	10	of	of	ADP
fsr-3710	78	11	one	one	NUM
fsr-3710	78	12	offered	offer	VERB
fsr-3710	78	13	by	by	ADP
fsr-3710	78	14	horvath	horvath	PROPN
fsr-3710	78	15	(	(	PUNCT
fsr-3710	78	16	1972	1972	NUM
fsr-3710	78	17	)	)	PUNCT
fsr-3710	78	18	and	and	CCONJ
fsr-3710	78	19	named	name	VERB
fsr-3710	78	20	by	by	ADP
fsr-3710	78	21	him	he	PRON
fsr-3710	78	22	the	the	DET
fsr-3710	78	23	“	"	PUNCT
fsr-3710	78	24	comprehensive	comprehensive	ADJ
fsr-3710	78	25	concentration	concentration	NOUN
fsr-3710	78	26	index	index	NOUN
fsr-3710	78	27	.	.	PUNCT
fsr-3710	78	28	”	"	PUNCT
fsr-3710	79	1	it	it	PRON
fsr-3710	79	2	is	be	AUX
fsr-3710	79	3	n	n	PRON
fsr-3710	79	4	di(4	di(4	NOUN
fsr-3710	79	5	)	)	PUNCT
fsr-3710	79	6	=	=	SYM
fsr-3710	79	7	1	1	NUM
fsr-3710	79	8	w	w	NOUN
fsr-3710	79	9	,	,	PUNCT
fsr-3710	79	10	c	c	VERB
fsr-3710	79	11	we	we	PRON
fsr-3710	79	12	[	[	PUNCT
fsr-3710	79	13	1	1	NUM
fsr-3710	79	14	+	+	CCONJ
fsr-3710	79	15	(	(	PUNCT
fsr-3710	79	16	1	1	NUM
fsr-3710	79	17	wi	wi	PROPN
fsr-3710	79	18	)	)	PUNCT
fsr-3710	79	19	]	]	PUNCT
fsr-3710	80	1	i=2	i=2	PROPN
fsr-3710	80	2	where	where	SCONJ
fsr-3710	80	3	w	w	VERB
fsr-3710	80	4	,	,	PUNCT
fsr-3710	80	5	=	=	PUNCT
fsr-3710	80	6	the	the	DET
fsr-3710	80	7	largest	large	ADJ
fsr-3710	80	8	single	single	ADJ
fsr-3710	80	9	portfolio	portfolio	NOUN
fsr-3710	80	10	holding	holding	NOUN
fsr-3710	80	11	.	.	PUNCT
fsr-3710	81	1	the	the	DET
fsr-3710	81	2	index	index	NOUN
fsr-3710	81	3	value	value	NOUN
fsr-3710	81	4	for	for	ADP
fsr-3710	81	5	a	a	DET
fsr-3710	81	6	single	single	ADJ
fsr-3710	81	7	-	-	PUNCT
fsr-3710	81	8	security	security	NOUN
fsr-3710	81	9	portfolio	portfolio	NOUN
fsr-3710	81	10	(	(	PUNCT
fsr-3710	81	11	portfolio	portfolio	NOUN
fsr-3710	81	12	a	a	NOUN
fsr-3710	81	13	)	)	PUNCT
fsr-3710	81	14	is	be	AUX
fsr-3710	81	15	zero	zero	NUM
fsr-3710	81	16	,	,	PUNCT
fsr-3710	81	17	and	and	CCONJ
fsr-3710	81	18	for	for	ADP
fsr-3710	81	19	an	an	DET
fsr-3710	81	20	evenly	evenly	ADV
fsr-3710	81	21	weighted	weight	VERB
fsr-3710	81	22	portfolio	portfolio	NOUN
fsr-3710	81	23	of	of	ADP
fsr-3710	81	24	100	100	NUM
fsr-3710	81	25	securities	security	NOUN
fsr-3710	81	26	78	78	NUM
fsr-3710	81	27	i?inancialservicesrevijzw,2(2	i?inancialservicesrevijzw,2(2	NOUN
fsr-3710	81	28	)	)	PUNCT
fsr-3710	81	29	1993	1993	NUM
fsr-3710	81	30	table	table	NOUN
fsr-3710	81	31	1a	1a	NOUN
fsr-3710	81	32	.	.	PUNCT
fsr-3710	82	1	values	value	NOUN
fsr-3710	82	2	of	of	ADP
fsr-3710	82	3	diversification	diversification	NOUN
fsr-3710	82	4	indices	index	NOUN
fsr-3710	82	5	for	for	ADP
fsr-3710	82	6	various	various	ADJ
fsr-3710	82	7	portfolios	portfolio	NOUN
fsr-3710	82	8	diversification	diversification	NOUN
fsr-3710	82	9	index	index	NOUN
fsr-3710	82	10	a	a	DET
fsr-3710	82	11	b	b	NOUN
fsr-3710	82	12	c	c	NOUN
fsr-3710	82	13	d	d	PROPN
fsr-3710	82	14	e	e	X
fsr-3710	82	15	f	f	PROPN
fsr-3710	82	16	g	g	PROPN
fsr-3710	82	17	h	h	NOUN
fsr-3710	83	1	i	i	PRON
fsr-3710	83	2	di	di	INTJ
fsr-3710	83	3	(	(	PUNCT
fsr-3710	83	4	1	1	NUM
fsr-3710	83	5	):	):	PUNCT
fsr-3710	83	6	herfindahl	herfindahl	NOUN
fsr-3710	83	7	0	0	NUM
fsr-3710	83	8	a4	a4	NUM
fsr-3710	83	9	.61	.61	NUM
fsr-3710	83	10	.70	.70	NUM
fsr-3710	83	11	.76	.76	NUM
fsr-3710	83	12	.79	.79	NUM
fsr-3710	83	13	.88	.88	NUM
fsr-3710	83	14	.90	.90	NUM
fsr-3710	83	15	.99	.99	NUM
fsr-3710	83	16	di	di	X
fsr-3710	83	17	(	(	PUNCT
fsr-3710	83	18	2	2	NUM
fsr-3710	83	19	):	):	PUNCT
fsr-3710	83	20	rosenbluth	rosenbluth	ADV
fsr-3710	83	21	0	0	NUM
fsr-3710	83	22	.40	.40	NUM
fsr-3710	83	23	.57	.57	NUM
fsr-3710	83	24	.67	.67	NUM
fsr-3710	83	25	.73	.73	NUM
fsr-3710	83	26	.77	.77	NUM
fsr-3710	83	27	.88	.88	NUM
fsr-3710	83	28	.90	.90	NUM
fsr-3710	83	29	.99	.99	NUM
fsr-3710	83	30	di	di	X
fsr-3710	83	31	(	(	PUNCT
fsr-3710	83	32	3	3	NUM
fsr-3710	83	33	):	):	PUNCT
fsr-3710	83	34	exp	exp	NOUN
fsr-3710	83	35	.	.	PROPN
fsr-3710	83	36	of	of	ADP
fsr-3710	83	37	entropy	entropy	PROPN
fsr-3710	83	38	0	0	NUM
fsr-3710	84	1	.47	.47	NUM
fsr-3710	84	2	.64	.64	NUM
fsr-3710	84	3	.72	.72	NUM
fsr-3710	84	4	.77	.77	NUM
fsr-3710	84	5	.81	.81	NUM
fsr-3710	84	6	.88	.88	NUM
fsr-3710	84	7	.90	.90	NUM
fsr-3710	84	8	.99	.99	NUM
fsr-3710	84	9	di	di	X
fsr-3710	84	10	(	(	PUNCT
fsr-3710	84	11	4	4	NUM
fsr-3710	84	12	):	):	PUNCT
fsr-3710	84	13	cc1	cc1	NOUN
fsr-3710	84	14	0	0	NUM
fsr-3710	84	15	.15	.15	NUM
fsr-3710	84	16	.26	.26	NUM
fsr-3710	84	17	.36	.36	NUM
fsr-3710	84	18	.43	.43	NUM
fsr-3710	84	19	.49	.49	NUM
fsr-3710	84	20	.67	.67	NUM
fsr-3710	84	21	.73	.73	NUM
fsr-3710	84	22	.97	.97	NUM
fsr-3710	84	23	di	di	X
fsr-3710	84	24	(	(	PUNCT
fsr-3710	84	25	5	5	NUM
fsr-3710	84	26	):	):	PUNCT
fsr-3710	84	27	entropy	entropy	NOUN
fsr-3710	84	28	0	0	NUM
fsr-3710	84	29	.64	.64	NUM
fsr-3710	84	30	1.01	1.01	NUM
fsr-3710	84	31	1.28	1.28	NUM
fsr-3710	84	32	1.49	1.49	NUM
fsr-3710	84	33	1.66	1.66	NUM
fsr-3710	84	34	2.08	2.08	NUM
fsr-3710	84	35	2.30	2.30	NUM
fsr-3710	84	36	4.60	4.60	NUM
fsr-3710	84	37	security	security	NOUN
fsr-3710	84	38	no	no	NOUN
fsr-3710	84	39	.	.	NOUN
fsr-3710	84	40	1	1	NUM
fsr-3710	84	41	2	2	NUM
fsr-3710	84	42	3	3	NUM
fsr-3710	84	43	4	4	NUM
fsr-3710	84	44	5	5	NUM
fsr-3710	84	45	6	6	NUM
fsr-3710	84	46	table	table	NOUN
fsr-3710	84	47	1b	1b	NUM
fsr-3710	84	48	.	.	PUNCT
fsr-3710	85	1	composition	composition	NOUN
fsr-3710	85	2	of	of	ADP
fsr-3710	85	3	portfolios	portfolio	NOUN
fsr-3710	85	4	used	use	VERB
fsr-3710	85	5	in	in	ADP
fsr-3710	85	6	table	table	NOUN
fsr-3710	85	7	1a	1a	NOUN
fsr-3710	85	8	%	%	NOUN
fsr-3710	85	9	distribution	distribution	NOUN
fsr-3710	85	10	in	in	ADP
fsr-3710	85	11	portjolio	portjolio	NOUN
fsr-3710	85	12	a	a	DET
fsr-3710	85	13	b	b	X
fsr-3710	85	14	c	c	NOUN
fsr-3710	85	15	d	d	X
fsr-3710	85	16	e	e	X
fsr-3710	85	17	f	f	PROPN
fsr-3710	85	18	100	100	NUM
fsr-3710	85	19	%	%	NOUN
fsr-3710	85	20	66	66	NUM
fsr-3710	85	21	2/3	2/3	NUM
fsr-3710	85	22	%	%	NOUN
fsr-3710	85	23	50	50	NUM
fsr-3710	85	24	%	%	NOUN
fsr-3710	85	25	40	40	NUM
fsr-3710	85	26	%	%	NOUN
fsr-3710	85	27	33	33	NUM
fsr-3710	85	28	l/3	l/3	NUM
fsr-3710	85	29	%	%	NOUN
fsr-3710	85	30	28.6	28.6	NUM
fsr-3710	85	31	%	%	NOUN
fsr-3710	85	32	33	33	NUM
fsr-3710	85	33	l/3	l/3	NUM
fsr-3710	85	34	33	33	NUM
fsr-3710	85	35	l/3	l/3	NUM
fsr-3710	85	36	30	30	NUM
fsr-3710	85	37	26	26	NUM
fsr-3710	85	38	2l3	2l3	NUM
fsr-3710	85	39	23.8	23.8	NUM
fsr-3710	85	40	16	16	NUM
fsr-3710	85	41	213	213	NUM
fsr-3710	85	42	20	20	NUM
fsr-3710	85	43	20	20	NUM
fsr-3710	85	44	19.0	19.0	NUM
fsr-3710	85	45	10	10	NUM
fsr-3710	85	46	13	13	NUM
fsr-3710	85	47	l/3	l/3	NUM
fsr-3710	85	48	14.3	14.3	NUM
fsr-3710	85	49	62f3	62f3	NUM
fsr-3710	85	50	9.5	9.5	NUM
fsr-3710	85	51	4.8	4.8	NUM
fsr-3710	85	52	portfolio	portfolio	NOUN
fsr-3710	85	53	g	g	NOUN
fsr-3710	85	54	:	:	PUNCT
fsr-3710	85	55	8	8	NUM
fsr-3710	85	56	securities	security	NOUN
fsr-3710	85	57	,	,	PUNCT
fsr-3710	85	58	evenly	evenly	ADV
fsr-3710	85	59	distributed	distribute	VERB
fsr-3710	85	60	,	,	PUNCT
fsr-3710	85	61	(	(	PUNCT
fsr-3710	85	62	12	12	NUM
fsr-3710	85	63	l/2	l/2	NUM
fsr-3710	85	64	%	%	NOUN
fsr-3710	85	65	each	each	PRON
fsr-3710	85	66	)	)	PUNCT
fsr-3710	85	67	.	.	PUNCT
fsr-3710	86	1	portfolio	portfolio	NOUN
fsr-3710	86	2	h	h	NOUN
fsr-3710	86	3	:	:	PUNCT
fsr-3710	86	4	10	10	NUM
fsr-3710	86	5	securities	security	NOUN
fsr-3710	86	6	,	,	PUNCT
fsr-3710	86	7	evenly	evenly	ADV
fsr-3710	86	8	distributed	distribute	VERB
fsr-3710	86	9	,	,	PUNCT
fsr-3710	86	10	(	(	PUNCT
fsr-3710	86	11	10	10	NUM
fsr-3710	86	12	%	%	NOUN
fsr-3710	86	13	each	each	PRON
fsr-3710	86	14	)	)	PUNCT
fsr-3710	86	15	.	.	PUNCT
fsr-3710	87	1	portfolio	portfolio	NOUN
fsr-3710	87	2	i	i	PRON
fsr-3710	87	3	:	:	PUNCT
fsr-3710	87	4	100	100	NUM
fsr-3710	87	5	securities	security	NOUN
fsr-3710	87	6	,	,	PUNCT
fsr-3710	87	7	evenly	evenly	ADV
fsr-3710	87	8	distributed	distribute	VERB
fsr-3710	87	9	(	(	PUNCT
fsr-3710	87	10	1	1	NUM
fsr-3710	87	11	%	%	NOUN
fsr-3710	87	12	each	each	PRON
fsr-3710	87	13	)	)	PUNCT
fsr-3710	87	14	.	.	PUNCT
fsr-3710	88	1	(	(	PUNCT
fsr-3710	88	2	portfolio	portfolio	NOUN
fsr-3710	88	3	i	i	PROPN
fsr-3710	88	4	)	)	PUNCT
fsr-3710	88	5	is	be	AUX
fsr-3710	88	6	.97	.97	NUM
fsr-3710	88	7	.	.	PUNCT
fsr-3710	89	1	this	this	PRON
fsr-3710	89	2	and	and	CCONJ
fsr-3710	89	3	the	the	DET
fsr-3710	89	4	next	next	ADJ
fsr-3710	89	5	index	index	NOUN
fsr-3710	89	6	are	be	AUX
fsr-3710	89	7	the	the	DET
fsr-3710	89	8	only	only	ADJ
fsr-3710	89	9	indices	index	NOUN
fsr-3710	89	10	we	we	PRON
fsr-3710	89	11	are	be	AUX
fsr-3710	89	12	considering	consider	VERB
fsr-3710	89	13	that	that	SCONJ
fsr-3710	89	14	,	,	PUNCT
fsr-3710	89	15	for	for	ADP
fsr-3710	89	16	evenly	evenly	ADV
fsr-3710	89	17	distributed	distribute	VERB
fsr-3710	89	18	portfolios	portfolio	NOUN
fsr-3710	89	19	,	,	PUNCT
fsr-3710	89	20	do	do	AUX
fsr-3710	89	21	not	not	PART
fsr-3710	89	22	reduce	reduce	VERB
fsr-3710	89	23	to	to	ADP
fsr-3710	89	24	the	the	DET
fsr-3710	89	25	value	value	NOUN
fsr-3710	89	26	of	of	ADP
fsr-3710	89	27	[	[	PUNCT
fsr-3710	89	28	1	1	NUM
fsr-3710	89	29	l	l	NOUN
fsr-3710	89	30	/	/	SYM
fsr-3710	89	31	n	n	CCONJ
fsr-3710	89	32	]	]	PUNCT
fsr-3710	89	33	.	.	PUNCT
fsr-3710	90	1	our	our	PRON
fsr-3710	90	2	final	final	ADJ
fsr-3710	90	3	index	index	NOUN
fsr-3710	90	4	is	be	AUX
fsr-3710	90	5	the	the	DET
fsr-3710	90	6	entropy	entropy	NOUN
fsr-3710	90	7	measure	measure	NOUN
fsr-3710	90	8	.	.	PUNCT
fsr-3710	91	1	it	it	PRON
fsr-3710	91	2	is	be	AUX
fsr-3710	91	3	defined	define	VERB
fsr-3710	91	4	in	in	ADP
fsr-3710	91	5	hart	hart	PROPN
fsr-3710	91	6	(	(	PUNCT
fsr-3710	91	7	197	197	NUM
fsr-3710	91	8	1	1	NUM
fsr-3710	91	9	)	)	PUNCT
fsr-3710	91	10	as	as	ADP
fsr-3710	91	11	di(5	di(5	NOUN
fsr-3710	91	12	)	)	PUNCT
fsr-3710	91	13	=	=	SYM
fsr-3710	91	14	2	2	NUM
fsr-3710	91	15	wi	wi	PROPN
fsr-3710	91	16	ln(wi	ln(wi	ADJ
fsr-3710	91	17	)	)	PUNCT
fsr-3710	91	18	.	.	PUNCT
fsr-3710	92	1	i	i	PRON
fsr-3710	92	2	=	=	X
fsr-3710	92	3	l	l	NOUN
fsr-3710	92	4	where	where	SCONJ
fsr-3710	92	5	in	in	ADP
fsr-3710	92	6	=	=	SYM
fsr-3710	92	7	natural	natural	ADJ
fsr-3710	92	8	logarithm	logarithm	NOUN
fsr-3710	92	9	.	.	PUNCT
fsr-3710	93	1	the	the	DET
fsr-3710	93	2	entropy	entropy	NOUN
fsr-3710	93	3	measure	measure	NOUN
fsr-3710	93	4	is	be	AUX
fsr-3710	93	5	distinct	distinct	ADJ
fsr-3710	93	6	from	from	ADP
fsr-3710	93	7	the	the	DET
fsr-3710	93	8	others	other	NOUN
fsr-3710	93	9	in	in	SCONJ
fsr-3710	93	10	that	that	SCONJ
fsr-3710	93	11	it	it	PRON
fsr-3710	93	12	is	be	AUX
fsr-3710	93	13	not	not	PART
fsr-3710	93	14	constrained	constrain	VERB
fsr-3710	93	15	between	between	ADP
fsr-3710	93	16	zero	zero	NUM
fsr-3710	93	17	and	and	CCONJ
fsr-3710	93	18	one	one	NUM
fsr-3710	93	19	.	.	PUNCT
fsr-3710	94	1	note	note	VERB
fsr-3710	94	2	that	that	SCONJ
fsr-3710	94	3	in	in	ADP
fsr-3710	94	4	table	table	NOUN
fsr-3710	94	5	la	la	PROPN
fsr-3710	94	6	,	,	PUNCT
fsr-3710	94	7	the	the	DET
fsr-3710	94	8	index	index	NOUN
fsr-3710	94	9	values	value	NOUN
fsr-3710	94	10	for	for	ADP
fsr-3710	94	11	all	all	DET
fsr-3710	94	12	the	the	DET
fsr-3710	94	13	sample	sample	NOUN
fsr-3710	94	14	portfolios	portfolio	NOUN
fsr-3710	94	15	except	except	SCONJ
fsr-3710	94	16	a	a	PRON
fsr-3710	94	17	and	and	CCONJ
fsr-3710	94	18	b	b	NOUN
fsr-3710	94	19	are	be	AUX
fsr-3710	94	20	greater	great	ADJ
fsr-3710	94	21	than	than	ADP
fsr-3710	94	22	one	one	NUM
fsr-3710	94	23	.	.	PUNCT
fsr-3710	95	1	iv	iv	X
fsr-3710	95	2	.	.	PUNCT
fsr-3710	95	3	evaluatingthequalityofthefiveindicfs	evaluatingthequalityofthefiveindicfs	PROPN
fsr-3710	95	4	in	in	ADP
fsr-3710	95	5	order	order	NOUN
fsr-3710	95	6	to	to	PART
fsr-3710	95	7	evaluate	evaluate	VERB
fsr-3710	95	8	the	the	DET
fsr-3710	95	9	quality	quality	NOUN
fsr-3710	95	10	of	of	ADP
fsr-3710	95	11	the	the	DET
fsr-3710	95	12	indices	index	NOUN
fsr-3710	95	13	proposed	propose	VERB
fsr-3710	95	14	in	in	ADP
fsr-3710	95	15	section	section	PROPN
fsr-3710	95	16	iii	iii	PROPN
fsr-3710	95	17	,	,	PUNCT
fsr-3710	95	18	we	we	PRON
fsr-3710	95	19	empirically	empirically	ADV
fsr-3710	95	20	examine	examine	VERB
fsr-3710	95	21	the	the	DET
fsr-3710	95	22	relationship	relationship	NOUN
fsr-3710	95	23	between	between	ADP
fsr-3710	95	24	the	the	DET
fsr-3710	95	25	standard	standard	ADJ
fsr-3710	95	26	deviation	deviation	NOUN
fsr-3710	95	27	of	of	ADP
fsr-3710	95	28	returns	return	NOUN
fsr-3710	95	29	of	of	ADP
fsr-3710	95	30	randomly	randomly	ADV
fsr-3710	95	31	selected	select	VERB
fsr-3710	95	32	portfolios	portfolio	NOUN
fsr-3710	95	33	and	and	CCONJ
fsr-3710	95	34	the	the	DET
fsr-3710	95	35	respective	respective	ADJ
fsr-3710	95	36	indices	index	NOUN
fsr-3710	95	37	of	of	ADP
fsr-3710	95	38	diversification	diversification	NOUN
fsr-3710	95	39	.	.	PUNCT
fsr-3710	96	1	the	the	DET
fsr-3710	96	2	quality	quality	NOUN
fsr-3710	96	3	of	of	ADP
fsr-3710	96	4	each	each	DET
fsr-3710	96	5	index	index	NOUN
fsr-3710	96	6	is	be	AUX
fsr-3710	96	7	measured	measure	VERB
fsr-3710	96	8	by	by	ADP
fsr-3710	96	9	the	the	DET
fsr-3710	96	10	closeness	closeness	NOUN
fsr-3710	96	11	of	of	ADP
fsr-3710	96	12	the	the	DET
fsr-3710	96	13	fit	fit	NOUN
fsr-3710	96	14	(	(	PUNCT
fsr-3710	96	15	in	in	ADP
fsr-3710	96	16	regression	regression	NOUN
fsr-3710	96	17	terms	term	NOUN
fsr-3710	96	18	)	)	PUNCT
fsr-3710	96	19	between	between	ADP
fsr-3710	96	20	portfolio	portfolio	NOUN
fsr-3710	96	21	risk	risk	NOUN
fsr-3710	96	22	(	(	PUNCT
fsr-3710	96	23	i.e.	i.e.	X
fsr-3710	96	24	,	,	PUNCT
fsr-3710	96	25	the	the	DET
fsr-3710	96	26	standard	standard	ADJ
fsr-3710	96	27	deviation	deviation	NOUN
fsr-3710	96	28	of	of	ADP
fsr-3710	96	29	returns	return	NOUN
fsr-3710	96	30	)	)	PUNCT
fsr-3710	96	31	and	and	CCONJ
fsr-3710	96	32	the	the	DET
fsr-3710	96	33	index	index	NOUN
fsr-3710	96	34	number	number	NOUN
fsr-3710	96	35	.	.	PUNCT
fsr-3710	97	1	the	the	DET
fsr-3710	97	2	methodology	methodology	NOUN
fsr-3710	97	3	an	an	DET
fsr-3710	97	4	index	index	NOUN
fsr-3710	97	5	of	of	ADP
fsr-3710	97	6	portfolio	portfolio	NOUN
fsr-3710	97	7	diversifhtion	diversifhtion	PROPN
fsr-3710	97	8	79	79	NUM
fsr-3710	97	9	is	be	AUX
fsr-3710	97	10	the	the	DET
fsr-3710	97	11	same	same	ADJ
fsr-3710	97	12	as	as	ADP
fsr-3710	97	13	that	that	PRON
fsr-3710	97	14	used	use	VERB
fsr-3710	97	15	by	by	ADP
fsr-3710	97	16	e&a	e&a	PROPN
fsr-3710	97	17	,	,	PUNCT
fsr-3710	97	18	except	except	SCONJ
fsr-3710	97	19	that	that	SCONJ
fsr-3710	97	20	the	the	DET
fsr-3710	97	21	distribution	distribution	NOUN
fsr-3710	97	22	of	of	ADP
fsr-3710	97	23	securities	security	NOUN
fsr-3710	97	24	in	in	ADP
fsr-3710	97	25	our	our	PRON
fsr-3710	97	26	portfolio	portfolio	NOUN
fsr-3710	97	27	is	be	AUX
fsr-3710	97	28	based	base	VERB
fsr-3710	97	29	on	on	ADP
fsr-3710	97	30	randomly	randomly	ADV
fsr-3710	97	31	determined	determine	VERB
fsr-3710	97	32	weights	weight	NOUN
fsr-3710	97	33	,	,	PUNCT
fsr-3710	97	34	rather	rather	ADV
fsr-3710	97	35	than	than	ADP
fsr-3710	97	36	evenly	evenly	ADV
fsr-3710	97	37	distributed	distribute	VERB
fsr-3710	97	38	weights	weight	NOUN
fsr-3710	97	39	.	.	PUNCT
fsr-3710	98	1	a	a	DET
fsr-3710	98	2	total	total	NOUN
fsr-3710	98	3	of	of	ADP
fsr-3710	98	4	1,740	1,740	NUM
fsr-3710	98	5	portfolios	portfolio	NOUN
fsr-3710	98	6	are	be	AUX
fsr-3710	98	7	examined	examine	VERB
fsr-3710	98	8	.	.	PUNCT
fsr-3710	99	1	there	there	PRON
fsr-3710	99	2	are	be	VERB
fsr-3710	99	3	60	60	NUM
fsr-3710	99	4	portfolios	portfolio	NOUN
fsr-3710	99	5	which	which	PRON
fsr-3710	99	6	contain	contain	VERB
fsr-3710	99	7	two	two	NUM
fsr-3710	99	8	securities	security	NOUN
fsr-3710	99	9	each	each	PRON
fsr-3710	99	10	,	,	PUNCT
fsr-3710	99	11	60	60	NUM
fsr-3710	99	12	with	with	ADP
fsr-3710	99	13	three	three	NUM
fsr-3710	99	14	each	each	PRON
fsr-3710	99	15	,	,	PUNCT
fsr-3710	99	16	and	and	CCONJ
fsr-3710	99	17	so	so	ADV
fsr-3710	99	18	on	on	ADP
fsr-3710	99	19	up	up	ADP
fsr-3710	99	20	to	to	PART
fsr-3710	99	21	60	60	NUM
fsr-3710	99	22	portfolios	portfolio	NOUN
fsr-3710	99	23	which	which	PRON
fsr-3710	99	24	contain	contain	VERB
fsr-3710	99	25	30	30	NUM
fsr-3710	99	26	securities	security	NOUN
fsr-3710	99	27	each.6	each.6	PROPN
fsr-3710	99	28	to	to	PART
fsr-3710	99	29	compute	compute	VERB
fsr-3710	99	30	the	the	DET
fsr-3710	99	31	standard	standard	ADJ
fsr-3710	99	32	deviation	deviation	NOUN
fsr-3710	99	33	for	for	ADP
fsr-3710	99	34	each	each	DET
fsr-3710	99	35	portfolio	portfolio	NOUN
fsr-3710	99	36	we	we	PRON
fsr-3710	99	37	obtained	obtain	VERB
fsr-3710	99	38	monthly	monthly	ADJ
fsr-3710	99	39	rates	rate	NOUN
fsr-3710	99	40	of	of	ADP
fsr-3710	99	41	return	return	NOUN
fsr-3710	99	42	data	datum	NOUN
fsr-3710	99	43	from	from	ADP
fsr-3710	99	44	the	the	DET
fsr-3710	99	45	1985	1985	NUM
fsr-3710	99	46	crsp	crsp	NOUN
fsr-3710	99	47	tapes.7	tapes.7	NOUN
fsr-3710	99	48	we	we	PRON
fsr-3710	99	49	used	use	VERB
fsr-3710	99	50	the	the	DET
fsr-3710	99	51	rate	rate	NOUN
fsr-3710	99	52	of	of	ADP
fsr-3710	99	53	return	return	NOUN
fsr-3710	99	54	series	series	NOUN
fsr-3710	99	55	which	which	PRON
fsr-3710	99	56	included	include	VERB
fsr-3710	99	57	dividends	dividend	NOUN
fsr-3710	99	58	.	.	PUNCT
fsr-3710	100	1	we	we	PRON
fsr-3710	100	2	selected	select	VERB
fsr-3710	100	3	only	only	ADV
fsr-3710	100	4	those	those	DET
fsr-3710	100	5	companies	company	NOUN
fsr-3710	100	6	with	with	ADP
fsr-3710	100	7	monthly	monthly	ADJ
fsr-3710	100	8	rates	rate	NOUN
fsr-3710	100	9	of	of	ADP
fsr-3710	100	10	return	return	NOUN
fsr-3710	100	11	covering	cover	VERB
fsr-3710	100	12	the	the	DET
fsr-3710	100	13	entire	entire	ADJ
fsr-3710	100	14	period	period	NOUN
fsr-3710	100	15	from	from	ADP
fsr-3710	100	16	december	december	PROPN
fsr-3710	100	17	1965	1965	NUM
fsr-3710	100	18	to	to	ADP
fsr-3710	100	19	december	december	PROPN
fsr-3710	100	20	1985	1985	NUM
fsr-3710	100	21	.	.	PUNCT
fsr-3710	101	1	this	this	PRON
fsr-3710	101	2	provided	provide	VERB
fsr-3710	101	3	us	we	PRON
fsr-3710	101	4	with	with	ADP
fsr-3710	101	5	a	a	DET
fsr-3710	101	6	sample	sample	NOUN
fsr-3710	101	7	size	size	NOUN
fsr-3710	101	8	of	of	ADP
fsr-3710	101	9	483	483	NUM
fsr-3710	101	10	companies	company	NOUN
fsr-3710	101	11	.	.	PUNCT
fsr-3710	101	12	’	'	PUNCT
fsr-3710	102	1	we	we	PRON
fsr-3710	102	2	computed	compute	VERB
fsr-3710	102	3	the	the	DET
fsr-3710	102	4	monthly	monthly	ADJ
fsr-3710	102	5	value	value	NOUN
fsr-3710	102	6	relative	relative	NOUN
fsr-3710	102	7	for	for	ADP
fsr-3710	102	8	each	each	DET
fsr-3710	102	9	portfolio	portfolio	NOUN
fsr-3710	102	10	as	as	ADP
fsr-3710	102	11	n	n	X
fsr-3710	102	12	ri	ri	NOUN
fsr-3710	102	13	=	=	SYM
fsr-3710	102	14	c	c	PROPN
fsr-3710	102	15	wi	wi	PROPN
fsr-3710	102	16	ri	ri	PROPN
fsr-3710	102	17	,	,	PUNCT
fsr-3710	102	18	k	k	PROPN
fsr-3710	102	19	k	k	X
fsr-3710	102	20	=	=	NOUN
fsr-3710	102	21	l	l	X
fsr-3710	102	22	where	where	SCONJ
fsr-3710	102	23	ri	ri	PROPN
fsr-3710	102	24	,	,	PUNCT
fsr-3710	102	25	k	k	PROPN
fsr-3710	102	26	=	=	PUNCT
fsr-3710	103	1	the	the	DET
fsr-3710	103	2	value	value	NOUN
fsr-3710	103	3	relative	relative	ADJ
fsr-3710	103	4	for	for	ADP
fsr-3710	103	5	security	security	NOUN
fsr-3710	103	6	k	k	NOUN
fsr-3710	103	7	during	during	ADP
fsr-3710	103	8	month	month	NOUN
fsr-3710	103	9	i	i	PRON
fsr-3710	103	10	(	(	PUNCT
fsr-3710	103	11	the	the	DET
fsr-3710	103	12	value	value	NOUN
fsr-3710	103	13	relative	relative	NOUN
fsr-3710	103	14	is	be	AUX
fsr-3710	103	15	the	the	DET
fsr-3710	103	16	price	price	NOUN
fsr-3710	103	17	at	at	ADP
fsr-3710	103	18	the	the	DET
fsr-3710	103	19	end	end	NOUN
fsr-3710	103	20	of	of	ADP
fsr-3710	103	21	the	the	DET
fsr-3710	103	22	month	month	NOUN
fsr-3710	103	23	plus	plus	CCONJ
fsr-3710	103	24	any	any	DET
fsr-3710	103	25	dividend	dividend	NOUN
fsr-3710	103	26	paid	pay	VERB
fsr-3710	103	27	during	during	ADP
fsr-3710	103	28	the	the	DET
fsr-3710	103	29	month	month	NOUN
fsr-3710	103	30	,	,	PUNCT
fsr-3710	103	31	divided	divide	VERB
fsr-3710	103	32	by	by	ADP
fsr-3710	103	33	the	the	DET
fsr-3710	103	34	price	price	NOUN
fsr-3710	103	35	at	at	ADP
fsr-3710	103	36	the	the	DET
fsr-3710	103	37	start	start	NOUN
fsr-3710	103	38	of	of	ADP
fsr-3710	103	39	the	the	DET
fsr-3710	103	40	month	month	NOUN
fsr-3710	103	41	)	)	PUNCT
fsr-3710	103	42	.	.	PUNCT
fsr-3710	104	1	next	next	ADV
fsr-3710	104	2	,	,	PUNCT
fsr-3710	104	3	the	the	DET
fsr-3710	104	4	monthly	monthly	ADJ
fsr-3710	104	5	mean	mean	NOUN
fsr-3710	104	6	value	value	NOUN
fsr-3710	104	7	relative	relative	ADJ
fsr-3710	104	8	for	for	ADP
fsr-3710	104	9	each	each	DET
fsr-3710	104	10	portfolio	portfolio	NOUN
fsr-3710	104	11	was	be	AUX
fsr-3710	104	12	computed	compute	VERB
fsr-3710	104	13	as	as	ADP
fsr-3710	104	14	m	m	PROPN
fsr-3710	104	15	rp	rp	NOUN
fsr-3710	104	16	=	=	PUNCT
fsr-3710	104	17	exp	exp	NOUN
fsr-3710	104	18	(	(	PUNCT
fsr-3710	104	19	(	(	PUNCT
fsr-3710	104	20	11	11	NUM
fsr-3710	104	21	m	m	NOUN
fsr-3710	104	22	)	)	PUNCT
fsr-3710	104	23	x	x	SYM
fsr-3710	104	24	c	c	NOUN
fsr-3710	104	25	1ogeri	1ogeri	NUM
fsr-3710	104	26	)	)	PUNCT
fsr-3710	104	27	.	.	PUNCT
fsr-3710	105	1	i	i	PRON
fsr-3710	105	2	=	=	X
fsr-3710	105	3	l	l	X
fsr-3710	105	4	where	where	SCONJ
fsr-3710	105	5	m	m	VERB
fsr-3710	105	6	=	=	NOUN
fsr-3710	105	7	240	240	NUM
fsr-3710	105	8	months	month	NOUN
fsr-3710	105	9	.	.	PUNCT
fsr-3710	106	1	finally	finally	ADV
fsr-3710	106	2	,	,	PUNCT
fsr-3710	106	3	the	the	DET
fsr-3710	106	4	portfolio	portfolio	NOUN
fsr-3710	106	5	standard	standard	ADJ
fsr-3710	106	6	deviation	deviation	NOUN
fsr-3710	106	7	was	be	AUX
fsr-3710	106	8	computed	compute	VERB
fsr-3710	106	9	as	as	ADP
fsr-3710	106	10	m	m	NOUN
fsr-3710	106	11	sd	sd	NOUN
fsr-3710	106	12	,	,	PUNCT
fsr-3710	106	13	=	=	PUNCT
fsr-3710	107	1	[	[	X
fsr-3710	107	2	(	(	PUNCT
fsr-3710	107	3	l/(m	l/(m	PROPN
fsr-3710	107	4	1	1	NUM
fsr-3710	107	5	)	)	PUNCT
fsr-3710	107	6	)	)	PUNCT
fsr-3710	108	1	x	x	X
fsr-3710	108	2	c	c	X
fsr-3710	108	3	(	(	PUNCT
fsr-3710	108	4	log	log	NOUN
fsr-3710	108	5	&	&	CCONJ
fsr-3710	108	6	10g,~i)2	10g,~i)2	PROPN
fsr-3710	108	7	]	]	PUNCT
fsr-3710	108	8	‘	'	PUNCT
fsr-3710	108	9	,	,	PUNCT
fsr-3710	108	10	i	i	PRON
fsr-3710	108	11	=	=	VERB
fsr-3710	108	12	l	l	NOUN
fsr-3710	108	13	it	it	PRON
fsr-3710	108	14	should	should	AUX
fsr-3710	108	15	be	be	AUX
fsr-3710	108	16	noted	note	VERB
fsr-3710	108	17	that	that	SCONJ
fsr-3710	108	18	implicit	implicit	ADJ
fsr-3710	108	19	in	in	ADP
fsr-3710	108	20	these	these	DET
fsr-3710	108	21	formulations	formulation	NOUN
fsr-3710	108	22	is	be	AUX
fsr-3710	108	23	the	the	DET
fsr-3710	108	24	assumption	assumption	NOUN
fsr-3710	108	25	that	that	SCONJ
fsr-3710	108	26	each	each	DET
fsr-3710	108	27	portfolio	portfolio	NOUN
fsr-3710	108	28	is	be	AUX
fsr-3710	108	29	reweighted	reweighte	VERB
fsr-3710	108	30	at	at	ADP
fsr-3710	108	31	the	the	DET
fsr-3710	108	32	start	start	NOUN
fsr-3710	108	33	of	of	ADP
fsr-3710	108	34	each	each	DET
fsr-3710	108	35	month	month	NOUN
fsr-3710	108	36	to	to	ADP
fsr-3710	108	37	the	the	DET
fsr-3710	108	38	original	original	ADJ
fsr-3710	108	39	distribution	distribution	NOUN
fsr-3710	108	40	of	of	ADP
fsr-3710	108	41	that	that	DET
fsr-3710	108	42	portfolio.9	portfolio.9	PROPN
fsr-3710	108	43	in	in	ADP
fsr-3710	108	44	order	order	NOUN
fsr-3710	108	45	to	to	PART
fsr-3710	108	46	ascertain	ascertain	VERB
fsr-3710	108	47	the	the	DET
fsr-3710	108	48	weights	weight	NOUN
fsr-3710	108	49	of	of	ADP
fsr-3710	108	50	the	the	DET
fsr-3710	108	51	securities	security	NOUN
fsr-3710	108	52	within	within	ADP
fsr-3710	108	53	each	each	DET
fsr-3710	108	54	portfolio	portfolio	NOUN
fsr-3710	108	55	,	,	PUNCT
fsr-3710	108	56	we	we	PRON
fsr-3710	108	57	generated	generate	VERB
fsr-3710	108	58	one	one	NUM
fsr-3710	108	59	random	random	ADJ
fsr-3710	108	60	number	number	NOUN
fsr-3710	108	61	for	for	ADP
fsr-3710	108	62	each	each	DET
fsr-3710	108	63	security	security	NOUN
fsr-3710	108	64	in	in	ADP
fsr-3710	108	65	the	the	DET
fsr-3710	108	66	portfolio	portfolio	NOUN
fsr-3710	108	67	,	,	PUNCT
fsr-3710	108	68	summed	sum	VERB
fsr-3710	108	69	the	the	DET
fsr-3710	108	70	random	random	ADJ
fsr-3710	108	71	numbers	number	NOUN
fsr-3710	108	72	,	,	PUNCT
fsr-3710	108	73	and	and	CCONJ
fsr-3710	108	74	set	set	VERB
fsr-3710	108	75	the	the	DET
fsr-3710	108	76	weights	weight	NOUN
fsr-3710	108	77	equal	equal	ADJ
fsr-3710	108	78	to	to	ADP
fsr-3710	108	79	the	the	DET
fsr-3710	108	80	ratio	ratio	NOUN
fsr-3710	108	81	of	of	ADP
fsr-3710	108	82	each	each	DET
fsr-3710	108	83	random	random	ADJ
fsr-3710	108	84	number	number	NOUN
fsr-3710	108	85	to	to	ADP
fsr-3710	108	86	the	the	DET
fsr-3710	108	87	sum	sum	NOUN
fsr-3710	108	88	.	.	PUNCT
fsr-3710	109	1	so	so	ADV
fsr-3710	109	2	if	if	SCONJ
fsr-3710	109	3	we	we	PRON
fsr-3710	109	4	were	be	AUX
fsr-3710	109	5	constructing	construct	VERB
fsr-3710	109	6	a	a	DET
fsr-3710	109	7	two	two	NUM
fsr-3710	109	8	-	-	PUNCT
fsr-3710	109	9	security	security	NOUN
fsr-3710	109	10	portfolio	portfolio	NOUN
fsr-3710	109	11	and	and	CCONJ
fsr-3710	109	12	our	our	PRON
fsr-3710	109	13	two	two	NUM
fsr-3710	109	14	random	random	ADJ
fsr-3710	109	15	numbers	number	NOUN
fsr-3710	109	16	were	be	AUX
fsr-3710	109	17	43	43	NUM
fsr-3710	109	18	and	and	CCONJ
fsr-3710	109	19	82	82	NUM
fsr-3710	109	20	,	,	PUNCT
fsr-3710	109	21	then	then	ADV
fsr-3710	109	22	our	our	PRON
fsr-3710	109	23	weights	weight	NOUN
fsr-3710	109	24	were	be	AUX
fsr-3710	109	25	.	.	PUNCT
fsr-3710	110	1	344	344	NUM
fsr-3710	110	2	(=	(=	NOUN
fsr-3710	110	3	43/125	43/125	NUM
fsr-3710	110	4	)	)	PUNCT
fsr-3710	111	1	and	and	CCONJ
fsr-3710	111	2	.	.	PUNCT
fsr-3710	112	1	656	656	NUM
fsr-3710	112	2	(=	(=	NOUN
fsr-3710	112	3	82/125	82/125	NUM
fsr-3710	112	4	)	)	PUNCT
fsr-3710	112	5	.	.	PUNCT
fsr-3710	112	6	”	"	PUNCT
fsr-3710	113	1	once	once	ADV
fsr-3710	113	2	the	the	DET
fsr-3710	113	3	weights	weight	NOUN
fsr-3710	113	4	were	be	AUX
fsr-3710	113	5	computed	compute	VERB
fsr-3710	113	6	,	,	PUNCT
fsr-3710	113	7	we	we	PRON
fsr-3710	113	8	then	then	ADV
fsr-3710	113	9	calculated	calculate	VERB
fsr-3710	113	10	the	the	DET
fsr-3710	113	11	five	five	NUM
fsr-3710	113	12	index	index	NOUN
fsr-3710	113	13	values	value	NOUN
fsr-3710	113	14	for	for	ADP
fsr-3710	113	15	each	each	DET
fsr-3710	113	16	portfolio	portfolio	NOUN
fsr-3710	113	17	.	.	PUNCT
fsr-3710	114	1	clearly	clearly	ADV
fsr-3710	114	2	,	,	PUNCT
fsr-3710	114	3	portfolios	portfolio	NOUN
fsr-3710	114	4	with	with	ADP
fsr-3710	114	5	the	the	DET
fsr-3710	114	6	same	same	ADJ
fsr-3710	114	7	number	number	NOUN
fsr-3710	114	8	of	of	ADP
fsr-3710	114	9	securities	security	NOUN
fsr-3710	114	10	were	be	AUX
fsr-3710	114	11	unlikely	unlikely	ADJ
fsr-3710	114	12	to	to	PART
fsr-3710	114	13	produce	produce	VERB
fsr-3710	114	14	the	the	DET
fsr-3710	114	15	same	same	ADJ
fsr-3710	114	16	index	index	NOUN
fsr-3710	114	17	values	value	NOUN
fsr-3710	114	18	.	.	PUNCT
fsr-3710	115	1	the	the	DET
fsr-3710	115	2	means	mean	NOUN
fsr-3710	115	3	for	for	ADP
fsr-3710	115	4	each	each	PRON
fsr-3710	115	5	of	of	ADP
fsr-3710	115	6	the	the	DET
fsr-3710	115	7	five	five	NUM
fsr-3710	115	8	indices	index	NOUN
fsr-3710	115	9	for	for	ADP
fsr-3710	115	10	portfolios	portfolio	NOUN
fsr-3710	115	11	of	of	ADP
fsr-3710	115	12	selected	select	VERB
fsr-3710	115	13	sizes	size	NOUN
fsr-3710	115	14	are	be	AUX
fsr-3710	115	15	shown	show	VERB
fsr-3710	115	16	in	in	ADP
fsr-3710	115	17	table	table	NOUN
fsr-3710	115	18	2	2	NUM
fsr-3710	115	19	.	.	PUNCT
fsr-3710	116	1	although	although	SCONJ
fsr-3710	116	2	the	the	DET
fsr-3710	116	3	first	first	ADJ
fsr-3710	116	4	four	four	NUM
fsr-3710	116	5	indices	index	NOUN
fsr-3710	116	6	are	be	AUX
fsr-3710	116	7	theoretically	theoretically	ADV
fsr-3710	116	8	80	80	NUM
fsr-3710	116	9	financial	financial	ADJ
fsr-3710	116	10	services	service	NOUN
fsr-3710	116	11	review	review	NOUN
fsr-3710	116	12	,	,	PUNCT
fsr-3710	116	13	2(2	2(2	NUM
fsr-3710	116	14	)	)	PUNCT
fsr-3710	116	15	1993	1993	NUM
fsr-3710	116	16	table	table	NOUN
fsr-3710	116	17	2	2	NUM
fsr-3710	116	18	.	.	X
fsr-3710	116	19	average	average	ADJ
fsr-3710	116	20	index	index	NOUN
fsr-3710	116	21	values	value	NOUN
fsr-3710	116	22	for	for	ADP
fsr-3710	116	23	selected	select	VERB
fsr-3710	116	24	portfolio	portfolio	NOUN
fsr-3710	116	25	sizes	size	NOUN
fsr-3710	116	26	number	number	NOUN
fsr-3710	116	27	of	of	ADP
fsr-3710	116	28	securities	security	NOUN
fsr-3710	116	29	in	in	ADP
fsr-3710	116	30	portfolio	portfolio	NOUN
fsr-3710	116	31	2	2	NUM
fsr-3710	116	32	3	3	NUM
fsr-3710	116	33	4	4	NUM
fsr-3710	116	34	5	5	NUM
fsr-3710	116	35	6	6	NUM
fsr-3710	116	36	7	7	NUM
fsr-3710	116	37	8	8	NUM
fsr-3710	116	38	9	9	NUM
fsr-3710	116	39	10	10	NUM
fsr-3710	116	40	12	12	NUM
fsr-3710	116	41	14	14	NUM
fsr-3710	116	42	16	16	NUM
fsr-3710	116	43	18	18	NUM
fsr-3710	116	44	20	20	NUM
fsr-3710	116	45	25	25	NUM
fsr-3710	116	46	30	30	NUM
fsr-3710	116	47	i	i	PRON
fsr-3710	116	48	.384	.384	NUM
fsr-3710	116	49	.575	.575	NUM
fsr-3710	116	50	.676	.676	NUM
fsr-3710	116	51	.741	.741	NUM
fsr-3710	116	52	.781	.781	NUM
fsr-3710	116	53	.814	.814	NUM
fsr-3710	116	54	.836	.836	NUM
fsr-3710	116	55	.852	.852	NUM
fsr-3710	116	56	.868	.868	NUM
fsr-3710	116	57	.889	.889	NUM
fsr-3710	116	58	.904	.904	NUM
fsr-3710	116	59	.917	.917	NUM
fsr-3710	116	60	.926	.926	NUM
fsr-3710	116	61	.934	.934	NUM
fsr-3710	116	62	.947	.947	NUM
fsr-3710	116	63	.956	.956	NUM
fsr-3710	116	64	diver$ication	diver$ication	NOUN
fsr-3710	116	65	index	index	NOUN
fsr-3710	116	66	2	2	NUM
fsr-3710	116	67	3	3	NUM
fsr-3710	116	68	4	4	NUM
fsr-3710	116	69	5	5	NUM
fsr-3710	116	70	,	,	PUNCT
fsr-3710	116	71	357	357	NUM
fsr-3710	116	72	.421	.421	NUM
fsr-3710	116	73	.124	.124	NUM
fsr-3710	116	74	~561	~561	NOUN
fsr-3710	116	75	,	,	PUNCT
fsr-3710	116	76	547	547	NUM
fsr-3710	116	77	.608	.608	NUM
fsr-3710	116	78	.238	.238	NUM
fsr-3710	116	79	.943	.943	NUM
fsr-3710	116	80	.654	.654	NUM
fsr-3710	116	81	.703	.703	NUM
fsr-3710	116	82	.335	.335	NUM
fsr-3710	116	83	1.221	1.221	NUM
fsr-3710	116	84	.720	.720	NUM
fsr-3710	116	85	.762	.762	NUM
fsr-3710	116	86	.415	.415	NUM
fsr-3710	116	87	1.441	1.441	NUM
fsr-3710	116	88	.761	.761	NUM
fsr-3710	116	89	.801	.801	NUM
fsr-3710	116	90	.475	.475	NUM
fsr-3710	116	91	1.619	1.619	NUM
fsr-3710	116	92	.795	.795	NUM
fsr-3710	116	93	.830	.830	NUM
fsr-3710	116	94	.527	.527	NUM
fsr-3710	116	95	1.772	1.772	NUM
fsr-3710	116	96	.820	.820	NUM
fsr-3710	116	97	.a51	.a51	SYM
fsr-3710	116	98	.570	.570	NUM
fsr-3710	117	1	1.905	1.905	NUM
fsr-3710	117	2	.838	.838	NUM
fsr-3710	117	3	.866	.866	NUM
fsr-3710	117	4	.600	.600	NUM
fsr-3710	117	5	2.012	2.012	NUM
fsr-3710	117	6	.853	.853	NUM
fsr-3710	117	7	.879	.879	NUM
fsr-3710	117	8	.633	.633	NUM
fsr-3710	117	9	2.115	2.115	NUM
fsr-3710	117	10	.877	.877	NUM
fsr-3710	117	11	.899	.899	NUM
fsr-3710	117	12	.680	.680	NUM
fsr-3710	117	13	2.296	2.296	NUM
fsr-3710	118	1	.a94	.a94	PUNCT
fsr-3710	118	2	.913	.913	NUM
fsr-3710	118	3	,	,	PUNCT
fsr-3710	118	4	718	718	NUM
fsr-3710	118	5	2.447	2.447	NUM
fsr-3710	118	6	.907	.907	NUM
fsr-3710	118	7	.924	.924	NUM
fsr-3710	118	8	.749	.749	NUM
fsr-3710	118	9	2.581	2.581	NUM
fsr-3710	118	10	.918	.918	NUM
fsr-3710	118	11	.933	.933	NUM
fsr-3710	118	12	.774	.774	NUM
fsr-3710	118	13	2.704	2.704	NUM
fsr-3710	118	14	.926	.926	NUM
fsr-3710	118	15	,	,	PUNCT
fsr-3710	118	16	940	940	NUM
fsr-3710	118	17	.795	.795	NUM
fsr-3710	118	18	2.813	2.813	NUM
fsr-3710	118	19	,	,	PUNCT
fsr-3710	118	20	941	941	NUM
fsr-3710	118	21	.952	.952	NUM
fsr-3710	118	22	.832	.832	NUM
fsr-3710	118	23	3.028	3.028	NUM
fsr-3710	118	24	.950	.950	NUM
fsr-3710	118	25	,	,	PUNCT
fsr-3710	118	26	960	960	NUM
fsr-3710	118	27	.856	.856	NUM
fsr-3710	118	28	3.212	3.212	NUM
fsr-3710	118	29	bounded	bound	VERB
fsr-3710	118	30	by	by	ADP
fsr-3710	118	31	zero	zero	NUM
fsr-3710	118	32	and	and	CCONJ
fsr-3710	118	33	one	one	NUM
fsr-3710	118	34	,	,	PUNCT
fsr-3710	118	35	note	note	VERB
fsr-3710	118	36	that	that	SCONJ
fsr-3710	118	37	indices	indice	VERB
fsr-3710	118	38	1,2	1,2	NUM
fsr-3710	118	39	,	,	PUNCT
fsr-3710	118	40	and	and	CCONJ
fsr-3710	118	41	3	3	NUM
fsr-3710	118	42	jump	jump	NOUN
fsr-3710	118	43	to	to	ADP
fsr-3710	118	44	the	the	DET
fsr-3710	118	45	upper	upper	ADJ
fsr-3710	118	46	end	end	NOUN
fsr-3710	118	47	of	of	ADP
fsr-3710	118	48	the	the	DET
fsr-3710	118	49	interval	interval	NOUN
fsr-3710	118	50	fairly	fairly	ADV
fsr-3710	118	51	quickly	quickly	ADV
fsr-3710	118	52	.	.	PUNCT
fsr-3710	119	1	for	for	ADP
fsr-3710	119	2	these	these	DET
fsr-3710	119	3	three	three	NUM
fsr-3710	119	4	indices	index	NOUN
fsr-3710	119	5	,	,	PUNCT
fsr-3710	119	6	portfolios	portfolio	NOUN
fsr-3710	119	7	with	with	ADP
fsr-3710	119	8	five	five	NUM
fsr-3710	119	9	or	or	CCONJ
fsr-3710	119	10	more	more	ADJ
fsr-3710	119	11	securi	securi	PROPN
fsr-3710	119	12	ties	tie	NOUN
fsr-3710	119	13	have	have	VERB
fsr-3710	119	14	index	index	NOUN
fsr-3710	119	15	values	value	NOUN
fsr-3710	119	16	,	,	PUNCT
fsr-3710	119	17	on	on	ADP
fsr-3710	119	18	average	average	ADJ
fsr-3710	119	19	,	,	PUNCT
fsr-3710	119	20	between	between	ADP
fsr-3710	119	21	.720	.720	NUM
fsr-3710	119	22	and	and	CCONJ
fsr-3710	119	23	.999	.999	NUM
fsr-3710	119	24	.	.	PUNCT
fsr-3710	120	1	the	the	DET
fsr-3710	120	2	point	point	NOUN
fsr-3710	120	3	is	be	AUX
fsr-3710	120	4	that	that	SCONJ
fsr-3710	120	5	nearly	nearly	ADV
fsr-3710	120	6	three	three	NUM
fsr-3710	120	7	-	-	PUNCT
fsr-3710	120	8	fourths	fourth	NOUN
fsr-3710	120	9	of	of	ADP
fsr-3710	120	10	the	the	DET
fsr-3710	120	11	scale	scale	NOUN
fsr-3710	120	12	available	available	ADJ
fsr-3710	120	13	to	to	PART
fsr-3710	120	14	measure	measure	VERB
fsr-3710	120	15	diversification	diversification	NOUN
fsr-3710	120	16	has	have	AUX
fsr-3710	120	17	been	be	AUX
fsr-3710	120	18	used	use	VERB
fsr-3710	120	19	up	up	ADP
fsr-3710	120	20	in	in	ADP
fsr-3710	120	21	measuring	measure	VERB
fsr-3710	120	22	the	the	DET
fsr-3710	120	23	diversification	diversification	NOUN
fsr-3710	120	24	of	of	ADP
fsr-3710	120	25	portfolios	portfolio	NOUN
fsr-3710	120	26	with	with	ADP
fsr-3710	120	27	one	one	NUM
fsr-3710	120	28	to	to	PART
fsr-3710	120	29	five	five	NUM
fsr-3710	120	30	securities	security	NOUN
fsr-3710	120	31	.	.	PUNCT
fsr-3710	121	1	this	this	PRON
fsr-3710	121	2	leaves	leave	VERB
fsr-3710	121	3	approximately	approximately	ADV
fsr-3710	121	4	one	one	NUM
fsr-3710	121	5	-	-	PUNCT
fsr-3710	121	6	fourth	fourth	NOUN
fsr-3710	121	7	of	of	ADP
fsr-3710	121	8	the	the	DET
fsr-3710	121	9	scale	scale	NOUN
fsr-3710	121	10	to	to	PART
fsr-3710	121	11	measure	measure	VERB
fsr-3710	121	12	differences	difference	NOUN
fsr-3710	121	13	in	in	ADP
fsr-3710	121	14	diversification	diversification	NOUN
fsr-3710	121	15	of	of	ADP
fsr-3710	121	16	portfolios	portfolio	NOUN
fsr-3710	121	17	with	with	ADP
fsr-3710	121	18	more	more	ADJ
fsr-3710	121	19	than	than	ADP
fsr-3710	121	20	five	five	NUM
fsr-3710	121	21	securities	security	NOUN
fsr-3710	121	22	.	.	PUNCT
fsr-3710	122	1	this	this	DET
fsr-3710	122	2	imbalance	imbalance	NOUN
fsr-3710	122	3	in	in	ADP
fsr-3710	122	4	the	the	DET
fsr-3710	122	5	use	use	NOUN
fsr-3710	122	6	of	of	ADP
fsr-3710	122	7	the	the	DET
fsr-3710	122	8	scale	scale	NOUN
fsr-3710	122	9	appears	appear	VERB
fsr-3710	122	10	to	to	PART
fsr-3710	122	11	be	be	AUX
fsr-3710	122	12	a	a	DET
fsr-3710	122	13	deficiency	deficiency	NOUN
fsr-3710	122	14	overcome	overcome	VERB
fsr-3710	122	15	by	by	ADP
fsr-3710	122	16	the	the	DET
fsr-3710	122	17	last	last	ADJ
fsr-3710	122	18	two	two	NUM
fsr-3710	122	19	indices	index	NOUN
fsr-3710	122	20	.	.	PUNCT
fsr-3710	123	1	in	in	ADP
fsr-3710	123	2	fact	fact	NOUN
fsr-3710	123	3	,	,	PUNCT
fsr-3710	123	4	the	the	DET
fsr-3710	123	5	fifth	fifth	ADJ
fsr-3710	123	6	index	index	NOUN
fsr-3710	123	7	has	have	VERB
fsr-3710	123	8	the	the	DET
fsr-3710	123	9	advantage	advantage	NOUN
fsr-3710	123	10	of	of	ADP
fsr-3710	123	11	being	be	AUX
fsr-3710	123	12	open	open	ADJ
fsr-3710	123	13	-	-	PUNCT
fsr-3710	123	14	ended	end	VERB
fsr-3710	123	15	on	on	ADP
fsr-3710	123	16	the	the	DET
fsr-3710	123	17	upper	upper	ADJ
fsr-3710	123	18	end	end	NOUN
fsr-3710	123	19	.	.	PUNCT
fsr-3710	124	1	as	as	SCONJ
fsr-3710	124	2	the	the	DET
fsr-3710	124	3	purpose	purpose	NOUN
fsr-3710	124	4	of	of	ADP
fsr-3710	124	5	our	our	PRON
fsr-3710	124	6	research	research	NOUN
fsr-3710	124	7	is	be	AUX
fsr-3710	124	8	to	to	PART
fsr-3710	124	9	show	show	VERB
fsr-3710	124	10	that	that	SCONJ
fsr-3710	124	11	a	a	DET
fsr-3710	124	12	diversification	diversification	NOUN
fsr-3710	124	13	index	index	NOUN
fsr-3710	124	14	could	could	AUX
fsr-3710	124	15	measure	measure	VERB
fsr-3710	124	16	the	the	DET
fsr-3710	124	17	degree	degree	NOUN
fsr-3710	124	18	of	of	ADP
fsr-3710	124	19	diversification	diversification	NOUN
fsr-3710	124	20	of	of	ADP
fsr-3710	124	21	an	an	DET
fsr-3710	124	22	unevenly	unevenly	ADV
fsr-3710	124	23	distributed	distribute	VERB
fsr-3710	124	24	portfolio	portfolio	NOUN
fsr-3710	124	25	as	as	ADV
fsr-3710	124	26	well	well	ADV
fsr-3710	124	27	as	as	ADP
fsr-3710	124	28	the	the	DET
fsr-3710	124	29	number	number	NOUN
fsr-3710	124	30	of	of	ADP
fsr-3710	124	31	securities	security	NOUN
fsr-3710	124	32	could	could	AUX
fsr-3710	124	33	measure	measure	VERB
fsr-3710	124	34	the	the	DET
fsr-3710	124	35	degree	degree	NOUN
fsr-3710	124	36	of	of	ADP
fsr-3710	124	37	diversification	diversification	NOUN
fsr-3710	124	38	of	of	ADP
fsr-3710	124	39	an	an	DET
fsr-3710	124	40	evenly	evenly	ADV
fsr-3710	124	41	distributed	distribute	VERB
fsr-3710	124	42	portfolio	portfolio	NOUN
fsr-3710	124	43	,	,	PUNCT
fsr-3710	124	44	we	we	PRON
fsr-3710	124	45	must	must	AUX
fsr-3710	124	46	first	first	ADV
fsr-3710	124	47	show	show	VERB
fsr-3710	124	48	how	how	SCONJ
fsr-3710	124	49	well	well	ADV
fsr-3710	124	50	the	the	DET
fsr-3710	124	51	latter	latter	ADJ
fsr-3710	124	52	measures	measure	VERB
fsr-3710	124	53	the	the	DET
fsr-3710	124	54	degree	degree	NOUN
fsr-3710	124	55	of	of	ADP
fsr-3710	124	56	diversification	diversification	NOUN
fsr-3710	124	57	.	.	PUNCT
fsr-3710	125	1	a	a	DET
fsr-3710	125	2	standard	standard	NOUN
fsr-3710	125	3	can	can	AUX
fsr-3710	125	4	be	be	AUX
fsr-3710	125	5	established	establish	VERB
fsr-3710	125	6	by	by	ADP
fsr-3710	125	7	repeating	repeat	VERB
fsr-3710	125	8	the	the	DET
fsr-3710	125	9	e&a	e&a	PROPN
fsr-3710	125	10	study	study	NOUN
fsr-3710	125	11	,	,	PUNCT
fsr-3710	125	12	changing	change	VERB
fsr-3710	125	13	only	only	ADV
fsr-3710	125	14	the	the	DET
fsr-3710	125	15	range	range	NOUN
fsr-3710	125	16	of	of	ADP
fsr-3710	125	17	portfolio	portfolio	NOUN
fsr-3710	125	18	sizes	size	NOUN
fsr-3710	125	19	.	.	PUNCT
fsr-3710	126	1	that	that	PRON
fsr-3710	126	2	is	is	ADV
fsr-3710	126	3	,	,	PUNCT
fsr-3710	126	4	we	we	PRON
fsr-3710	126	5	compute	compute	VERB
fsr-3710	126	6	portfolio	portfolio	NOUN
fsr-3710	126	7	standard	standard	ADJ
fsr-3710	126	8	deviations	deviation	NOUN
fsr-3710	126	9	for	for	ADP
fsr-3710	126	10	60	60	NUM
fsr-3710	126	11	sets	set	NOUN
fsr-3710	126	12	of	of	ADP
fsr-3710	126	13	portfolios	portfolio	NOUN
fsr-3710	126	14	,	,	PUNCT
fsr-3710	126	15	where	where	SCONJ
fsr-3710	126	16	each	each	DET
fsr-3710	126	17	set	set	NOUN
fsr-3710	126	18	of	of	ADP
fsr-3710	126	19	portfolios	portfolio	NOUN
fsr-3710	126	20	range	range	VERB
fsr-3710	126	21	in	in	ADP
fsr-3710	126	22	size	size	NOUN
fsr-3710	126	23	from	from	ADP
fsr-3710	126	24	two	two	NUM
fsr-3710	126	25	to	to	PART
fsr-3710	126	26	30	30	NUM
fsr-3710	126	27	securities	security	NOUN
fsr-3710	126	28	and	and	CCONJ
fsr-3710	126	29	each	each	DET
fsr-3710	126	30	portfolio	portfolio	NOUN
fsr-3710	126	31	is	be	AUX
fsr-3710	126	32	equally	equally	ADV
fsr-3710	126	33	weighted	weight	VERB
fsr-3710	126	34	.	.	PUNCT
fsr-3710	127	1	we	we	PRON
fsr-3710	127	2	then	then	ADV
fsr-3710	127	3	compute	compute	VERB
fsr-3710	127	4	the	the	DET
fsr-3710	127	5	average	average	ADJ
fsr-3710	127	6	portfolio	portfolio	NOUN
fsr-3710	127	7	standard	standard	ADJ
fsr-3710	127	8	deviation	deviation	NOUN
fsr-3710	127	9	for	for	ADP
fsr-3710	127	10	each	each	DET
fsr-3710	127	11	size	size	NOUN
fsr-3710	127	12	portfolio	portfolio	NOUN
fsr-3710	127	13	and	and	CCONJ
fsr-3710	127	14	regress	regress	NOUN
fsr-3710	127	15	these	these	DET
fsr-3710	127	16	average	average	ADJ
fsr-3710	127	17	portfolio	portfolio	NOUN
fsr-3710	127	18	standard	standard	ADJ
fsr-3710	127	19	deviations	deviation	NOUN
fsr-3710	127	20	against	against	ADP
fsr-3710	127	21	the	the	DET
fsr-3710	127	22	inverse	inverse	NOUN
fsr-3710	127	23	of	of	ADP
fsr-3710	127	24	the	the	DET
fsr-3710	127	25	number	number	NOUN
fsr-3710	127	26	of	of	ADP
fsr-3710	127	27	securities	security	NOUN
fsr-3710	127	28	in	in	ADP
fsr-3710	127	29	the	the	DET
fsr-3710	127	30	portfolio	portfolio	NOUN
fsr-3710	127	31	.	.	PUNCT
fsr-3710	128	1	the	the	DET
fsr-3710	128	2	results	result	NOUN
fsr-3710	128	3	of	of	ADP
fsr-3710	128	4	this	this	DET
fsr-3710	128	5	regression	regression	NOUN
fsr-3710	128	6	are	be	AUX
fsr-3710	128	7	shown	show	VERB
fsr-3710	128	8	as	as	ADP
fsr-3710	128	9	regression	regression	NOUN
fsr-3710	128	10	1	1	NUM
fsr-3710	128	11	in	in	ADP
fsr-3710	128	12	table	table	NOUN
fsr-3710	128	13	3	3	NUM
fsr-3710	128	14	.	.	PUNCT
fsr-3710	129	1	the	the	DET
fsr-3710	129	2	regression	regression	NOUN
fsr-3710	129	3	statistics	statistic	NOUN
fsr-3710	129	4	are	be	AUX
fsr-3710	129	5	essentially	essentially	ADV
fsr-3710	129	6	the	the	DET
fsr-3710	129	7	same	same	ADJ
fsr-3710	129	8	as	as	ADP
fsr-3710	129	9	those	those	PRON
fsr-3710	129	10	obtained	obtain	VERB
fsr-3710	129	11	by	by	ADP
fsr-3710	129	12	e&a	e&a	PROPN
fsr-3710	129	13	,	,	PUNCT
fsr-3710	129	14	the	the	PRON
fsr-3710	129	15	differ	differ	VERB
fsr-3710	129	16	ence	ence	NOUN
fsr-3710	129	17	being	be	AUX
fsr-3710	129	18	that	that	SCONJ
fsr-3710	129	19	they	they	PRON
fsr-3710	129	20	used	use	VERB
fsr-3710	129	21	ten	ten	NUM
fsr-3710	129	22	years	year	NOUN
fsr-3710	129	23	of	of	ADP
fsr-3710	129	24	semiannual	semiannual	ADJ
fsr-3710	129	25	rates	rate	NOUN
fsr-3710	129	26	of	of	ADP
fsr-3710	129	27	return	return	NOUN
fsr-3710	129	28	data	datum	NOUN
fsr-3710	129	29	and	and	CCONJ
fsr-3710	129	30	portfolios	portfolio	NOUN
fsr-3710	129	31	an	an	DET
fsr-3710	129	32	index	index	NOUN
fsr-3710	129	33	of	of	ADP
fsr-3710	129	34	portfolio	portfolio	NOUN
fsr-3710	129	35	diversijication	diversijication	NOUN
fsr-3710	129	36	81	81	NUM
fsr-3710	129	37	table	table	NOUN
fsr-3710	129	38	3	3	NUM
fsr-3710	129	39	.	.	X
fsr-3710	130	1	standard	standard	ADJ
fsr-3710	130	2	deviations	deviation	NOUN
fsr-3710	130	3	regressed	regress	VERB
fsr-3710	130	4	against	against	ADP
fsr-3710	130	5	index	index	NOUN
fsr-3710	130	6	values	value	NOUN
fsr-3710	130	7	constant	constant	ADJ
fsr-3710	130	8	coeficient	coeficient	NOUN
fsr-3710	130	9	root	root	NOUN
fsr-3710	130	10	sample	sample	PROPN
fsr-3710	130	11	regression	regression	NOUN
fsr-3710	130	12	#	#	NOUN
fsr-3710	130	13	(	(	PUNCT
fsr-3710	130	14	t	t	NOUN
fsr-3710	130	15	-	-	PUNCT
fsr-3710	130	16	statistic	statistic	NOUN
fsr-3710	130	17	)	)	PUNCT
fsr-3710	130	18	(	(	PUNCT
fsr-3710	130	19	t	t	NOUN
fsr-3710	130	20	-	-	PUNCT
fsr-3710	130	21	statistic	statistic	NOUN
fsr-3710	130	22	)	)	PUNCT
fsr-3710	130	23	adjusted	adjust	VERB
fsr-3710	130	24	r2	r2	PROPN
fsr-3710	130	25	f	f	PROPN
fsr-3710	130	26	-	-	PUNCT
fsr-3710	130	27	ratio	ratio	NOUN
fsr-3710	130	28	mse	mse	NOUN
fsr-3710	130	29	size	size	NOUN
fsr-3710	130	30	1	1	NUM
fsr-3710	130	31	(	(	PUNCT
fsr-3710	130	32	l	l	NOUN
fsr-3710	130	33	/	/	SYM
fsr-3710	130	34	x;equal	x;equal	ADJ
fsr-3710	130	35	weights	weight	NOUN
fsr-3710	130	36	,	,	PUNCT
fsr-3710	130	37	avgs	avg	NOUN
fsr-3710	130	38	.	.	PUNCT
fsr-3710	130	39	)	)	PUNCT
fsr-3710	131	1	4.063	4.063	NUM
fsr-3710	131	2	6.132	6.132	NUM
fsr-3710	131	3	,	,	PUNCT
fsr-3710	131	4	980	980	NUM
fsr-3710	131	5	1,398.91	1,398.91	NUM
fsr-3710	131	6	.090	.090	NUM
fsr-3710	131	7	29	29	NUM
fsr-3710	131	8	(	(	PUNCT
fsr-3710	131	9	170.597	170.597	NUM
fsr-3710	131	10	)	)	PUNCT
fsr-3710	131	11	(	(	PUNCT
fsr-3710	131	12	37.403	37.403	NUM
fsr-3710	131	13	)	)	SYM
fsr-3710	131	14	2	2	NUM
fsr-3710	131	15	(	(	PUNCT
fsr-3710	131	16	l	l	NOUN
fsr-3710	131	17	/	/	SYM
fsr-3710	131	18	x;equal	x;equal	NOUN
fsr-3710	131	19	weights	weights	PROPN
fsr-3710	131	20	)	)	PUNCT
fsr-3710	131	21	4.063	4.063	NUM
fsr-3710	131	22	6.133	6.133	NUM
fsr-3710	131	23	549	549	NUM
fsr-3710	131	24	2,123.56	2,123.56	NUM
fsr-3710	131	25	567	567	NUM
fsr-3710	131	26	1740	1740	NUM
fsr-3710	131	27	(	(	PUNCT
fsr-3710	131	28	210.141	210.141	NUM
fsr-3710	131	29	)	)	PUNCT
fsr-3710	131	30	(	(	PUNCT
fsr-3710	131	31	46.082	46.082	NUM
fsr-3710	131	32	)	)	PUNCT
fsr-3710	131	33	3	3	NUM
fsr-3710	131	34	-	-	PUNCT
fsr-3710	131	35	di	di	NOUN
fsr-3710	131	36	(	(	PUNCT
fsr-3710	131	37	1	1	NUM
fsr-3710	131	38	)	)	PUNCT
fsr-3710	131	39	9.880	9.880	NUM
fsr-3710	131	40	-5.765	-5.765	SYM
fsr-3710	131	41	.548	.548	NUM
fsr-3710	132	1	2,110.69	2,110.69	NUM
fsr-3710	133	1	,	,	PUNCT
fsr-3710	133	2	688	688	NUM
fsr-3710	133	3	1740	1740	NUM
fsr-3710	133	4	(	(	PUNCT
fsr-3710	133	5	89.917	89.917	NUM
fsr-3710	133	6	)	)	PUNCT
fsr-3710	133	7	(	(	PUNCT
fsr-3710	133	8	-45.942	-45.942	ADV
fsr-3710	133	9	)	)	PUNCT
fsr-3710	133	10	4	4	NUM
fsr-3710	133	11	-	-	PUNCT
fsr-3710	133	12	di(2	di(2	PROPN
fsr-3710	133	13	)	)	PUNCT
fsr-3710	133	14	9.590	9.590	NUM
fsr-3710	133	15	-5.505	-5.505	NOUN
fsr-3710	133	16	,	,	PUNCT
fsr-3710	133	17	544	544	NUM
fsr-3710	133	18	2,077.2	2,077.2	NUM
fsr-3710	133	19	.691	.691	NUM
fsr-3710	133	20	1740	1740	NUM
fsr-3710	133	21	(	(	PUNCT
fsr-3710	133	22	91.791	91.791	NUM
fsr-3710	133	23	)	)	PUNCT
fsr-3710	133	24	(	(	PUNCT
fsr-3710	133	25	45.576	45.576	NUM
fsr-3710	133	26	)	)	PUNCT
fsr-3710	133	27	5	5	NUM
fsr-3710	133	28	-	-	PUNCT
fsr-3710	133	29	di(3	di(3	NOUN
fsr-3710	133	30	)	)	PUNCT
fsr-3710	133	31	10.337	10.337	NUM
fsr-3710	133	32	-6.213	-6.213	NOUN
fsr-3710	133	33	,	,	PUNCT
fsr-3710	133	34	544	544	NUM
fsr-3710	133	35	2.075.8	2.075.8	NUM
fsr-3710	133	36	.691	.691	NUM
fsr-3710	133	37	1740	1740	NUM
fsr-3710	133	38	(	(	PUNCT
fsr-3710	133	39	85.637	85.637	NUM
fsr-3710	133	40	)	)	PUNCT
fsr-3710	133	41	(	(	PUNCT
fsr-3710	133	42	-45.561	-45.561	PROPN
fsr-3710	133	43	)	)	PUNCT
fsr-3710	133	44	6	6	NUM
fsr-3710	133	45	-	-	PUNCT
fsr-3710	133	46	di(4	di(4	NOUN
fsr-3710	133	47	)	)	PUNCT
fsr-3710	133	48	7.445	7.445	NUM
fsr-3710	133	49	-3.783	-3.783	NOUN
fsr-3710	133	50	.511	.511	NUM
fsr-3710	134	1	1,822.o	1,822.o	NUM
fsr-3710	134	2	.715	.715	NUM
fsr-3710	134	3	1740	1740	NUM
fsr-3710	134	4	(	(	PUNCT
fsr-3710	134	5	119.534	119.534	NUM
fsr-3710	134	6	)	)	PUNCT
fsr-3710	134	7	(	(	PUNCT
fsr-3710	134	8	42.685	42.685	NUM
fsr-3710	134	9	)	)	PUNCT
fsr-3710	134	10	7	7	NUM
fsr-3710	134	11	-	-	PUNCT
fsr-3710	134	12	di(5	di(5	NOUN
fsr-3710	134	13	)	)	PUNCT
fsr-3710	134	14	7.306	7.306	NUM
fsr-3710	134	15	-1.011	-1.011	NOUN
fsr-3710	134	16	,	,	PUNCT
fsr-3710	134	17	479	479	NUM
fsr-3710	134	18	1,602.3	1,602.3	NUM
fsr-3710	134	19	.739	.739	NUM
fsr-3710	134	20	1740	1740	NUM
fsr-3710	134	21	(	(	PUNCT
fsr-3710	134	22	116.133	116.133	NUM
fsr-3710	134	23	)	)	PUNCT
fsr-3710	134	24	(	(	PUNCT
fsr-3710	134	25	-40.029	-40.029	NOUN
fsr-3710	134	26	)	)	PUNCT
fsr-3710	134	27	note	note	NOUN
fsr-3710	134	28	:	:	PUNCT
fsr-3710	134	29	this	this	DET
fsr-3710	134	30	table	table	NOUN
fsr-3710	134	31	is	be	AUX
fsr-3710	134	32	based	base	VERB
fsr-3710	134	33	on	on	ADP
fsr-3710	134	34	60	60	NUM
fsr-3710	134	35	repetitions	repetition	NOUN
fsr-3710	134	36	where	where	SCONJ
fsr-3710	134	37	each	each	DET
fsr-3710	134	38	repetition	repetition	NOUN
fsr-3710	134	39	has	have	VERB
fsr-3710	134	40	portfolios	portfolio	NOUN
fsr-3710	134	41	containing	contain	VERB
fsr-3710	134	42	2	2	NUM
fsr-3710	134	43	to	to	ADP
fsr-3710	134	44	30	30	NUM
fsr-3710	134	45	securities	security	NOUN
fsr-3710	134	46	.	.	PUNCT
fsr-3710	135	1	the	the	DET
fsr-3710	135	2	data	datum	NOUN
fsr-3710	135	3	for	for	ADP
fsr-3710	135	4	each	each	DET
fsr-3710	135	5	firm	firm	NOUN
fsr-3710	135	6	is	be	AUX
fsr-3710	135	7	based	base	VERB
fsr-3710	135	8	on	on	ADP
fsr-3710	135	9	240	240	NUM
fsr-3710	135	10	monthly	monthly	ADJ
fsr-3710	135	11	rates	rate	NOUN
fsr-3710	135	12	of	of	ADP
fsr-3710	135	13	return	return	NOUN
fsr-3710	135	14	.	.	PUNCT
fsr-3710	136	1	of	of	ADP
fsr-3710	136	2	one	one	NUM
fsr-3710	136	3	to	to	PART
fsr-3710	136	4	40	40	NUM
fsr-3710	136	5	securities	security	NOUN
fsr-3710	136	6	,	,	PUNCT
fsr-3710	136	7	whereas	whereas	SCONJ
fsr-3710	136	8	we	we	PRON
fsr-3710	136	9	use	use	VERB
fsr-3710	136	10	20	20	NUM
fsr-3710	136	11	years	year	NOUN
fsr-3710	136	12	of	of	ADP
fsr-3710	136	13	monthly	monthly	ADJ
fsr-3710	136	14	data	datum	NOUN
fsr-3710	136	15	and	and	CCONJ
fsr-3710	136	16	portfolios	portfolio	NOUN
fsr-3710	136	17	of	of	ADP
fsr-3710	136	18	two	two	NUM
fsr-3710	136	19	to	to	PART
fsr-3710	136	20	30	30	NUM
fsr-3710	136	21	securities	security	NOUN
fsr-3710	136	22	.	.	PUNCT
fsr-3710	137	1	the	the	DET
fsr-3710	137	2	adjusted	adjusted	ADJ
fsr-3710	137	3	r	r	NOUN
fsr-3710	137	4	-	-	PUNCT
fsr-3710	137	5	square	square	NOUN
fsr-3710	137	6	is	be	AUX
fsr-3710	137	7	.980	.980	NUM
fsr-3710	137	8	and	and	CCONJ
fsr-3710	137	9	the	the	DET
fsr-3710	137	10	sample	sample	NOUN
fsr-3710	137	11	size	size	NOUN
fsr-3710	137	12	is	be	AUX
fsr-3710	137	13	29	29	NUM
fsr-3710	137	14	.	.	PUNCT
fsr-3710	138	1	although	although	SCONJ
fsr-3710	138	2	comparable	comparable	ADJ
fsr-3710	138	3	to	to	ADP
fsr-3710	138	4	that	that	PRON
fsr-3710	138	5	reported	report	VERB
fsr-3710	138	6	by	by	ADP
fsr-3710	138	7	e&a	e&a	PROPN
fsr-3710	138	8	,	,	PUNCT
fsr-3710	138	9	regression	regression	NOUN
fsr-3710	138	10	1	1	NUM
fsr-3710	138	11	is	be	AUX
fsr-3710	138	12	not	not	PART
fsr-3710	138	13	yet	yet	ADV
fsr-3710	138	14	a	a	DET
fsr-3710	138	15	valid	valid	ADJ
fsr-3710	138	16	standard	standard	NOUN
fsr-3710	138	17	for	for	ADP
fsr-3710	138	18	evaluating	evaluate	VERB
fsr-3710	138	19	our	our	PRON
fsr-3710	138	20	indices	index	NOUN
fsr-3710	138	21	.	.	PUNCT
fsr-3710	139	1	the	the	DET
fsr-3710	139	2	reason	reason	NOUN
fsr-3710	139	3	is	be	AUX
fsr-3710	139	4	that	that	SCONJ
fsr-3710	139	5	our	our	PRON
fsr-3710	139	6	diversification	diversification	NOUN
fsr-3710	139	7	indices	index	NOUN
fsr-3710	139	8	are	be	AUX
fsr-3710	139	9	continuous	continuous	ADJ
fsr-3710	139	10	variables	variable	NOUN
fsr-3710	139	11	,	,	PUNCT
fsr-3710	139	12	but	but	CCONJ
fsr-3710	139	13	the	the	DET
fsr-3710	139	14	portfolio	portfolio	NOUN
fsr-3710	139	15	sizes	size	NOUN
fsr-3710	139	16	used	use	VERB
fsr-3710	139	17	in	in	ADP
fsr-3710	139	18	the	the	DET
fsr-3710	139	19	e&a	e&a	PROPN
fsr-3710	139	20	study	study	NOUN
fsr-3710	139	21	are	be	AUX
fsr-3710	139	22	discrete	discrete	ADJ
fsr-3710	139	23	variables	variable	NOUN
fsr-3710	139	24	.	.	PUNCT
fsr-3710	140	1	furthermore	furthermore	ADV
fsr-3710	140	2	,	,	PUNCT
fsr-3710	140	3	the	the	DET
fsr-3710	140	4	standard	standard	ADJ
fsr-3710	140	5	deviations	deviation	NOUN
fsr-3710	140	6	used	use	VERB
fsr-3710	140	7	as	as	ADP
fsr-3710	140	8	the	the	DET
fsr-3710	140	9	dependent	dependent	ADJ
fsr-3710	140	10	variable	variable	NOUN
fsr-3710	140	11	in	in	ADP
fsr-3710	140	12	regression	regression	NOUN
fsr-3710	140	13	1	1	NUM
fsr-3710	140	14	are	be	AUX
fsr-3710	140	15	arithmetic	arithmetic	ADJ
fsr-3710	140	16	averages	average	NOUN
fsr-3710	140	17	covering	cover	VERB
fsr-3710	140	18	60	60	NUM
fsr-3710	140	19	observations	observation	NOUN
fsr-3710	140	20	.	.	PUNCT
fsr-3710	141	1	a	a	DET
fsr-3710	141	2	valid	valid	ADJ
fsr-3710	141	3	comparison	comparison	NOUN
fsr-3710	141	4	with	with	ADP
fsr-3710	141	5	our	our	PRON
fsr-3710	141	6	indices	index	NOUN
fsr-3710	141	7	could	could	AUX
fsr-3710	141	8	be	be	AUX
fsr-3710	141	9	made	make	VERB
fsr-3710	141	10	if	if	SCONJ
fsr-3710	141	11	we	we	PRON
fsr-3710	141	12	rerun	rerun	VERB
fsr-3710	141	13	the	the	DET
fsr-3710	141	14	e&a	e&a	PROPN
fsr-3710	141	15	regression	regression	NOUN
fsr-3710	141	16	using	use	VERB
fsr-3710	141	17	the	the	DET
fsr-3710	141	18	individual	individual	ADJ
fsr-3710	141	19	portfolio	portfolio	NOUN
fsr-3710	141	20	data	datum	NOUN
fsr-3710	141	21	rather	rather	ADV
fsr-3710	141	22	than	than	ADP
fsr-3710	141	23	portfolio	portfolio	NOUN
fsr-3710	141	24	averages	average	NOUN
fsr-3710	141	25	.	.	PUNCT
fsr-3710	142	1	thus	thus	ADV
fsr-3710	142	2	,	,	PUNCT
fsr-3710	142	3	the	the	DET
fsr-3710	142	4	sample	sample	NOUN
fsr-3710	142	5	size	size	NOUN
fsr-3710	142	6	increases	increase	VERB
fsr-3710	142	7	from	from	ADP
fsr-3710	142	8	29	29	NUM
fsr-3710	142	9	to	to	ADP
fsr-3710	142	10	1,740	1,740	NUM
fsr-3710	142	11	.	.	PUNCT
fsr-3710	143	1	naturally	naturally	ADV
fsr-3710	143	2	,	,	PUNCT
fsr-3710	143	3	the	the	DET
fsr-3710	143	4	regression	regression	NOUN
fsr-3710	143	5	coefficients	coefficient	NOUN
fsr-3710	143	6	are	be	AUX
fsr-3710	143	7	the	the	DET
fsr-3710	143	8	same	same	ADJ
fsr-3710	143	9	,	,	PUNCT
fsr-3710	143	10	but	but	CCONJ
fsr-3710	143	11	there	there	PRON
fsr-3710	143	12	is	be	VERB
fsr-3710	143	13	a	a	DET
fsr-3710	143	14	substantial	substantial	ADJ
fsr-3710	143	15	decline	decline	NOUN
fsr-3710	143	16	in	in	ADP
fsr-3710	143	17	the	the	DET
fsr-3710	143	18	adjusted	adjusted	ADJ
fsr-3710	143	19	r	r	NOUN
fsr-3710	143	20	-	-	PUNCT
fsr-3710	143	21	square	square	NOUN
fsr-3710	143	22	to	to	ADP
fsr-3710	143	23	s49	s49	NOUN
fsr-3710	143	24	as	as	SCONJ
fsr-3710	143	25	reported	report	VERB
fsr-3710	143	26	in	in	ADP
fsr-3710	143	27	regression	regression	NOUN
fsr-3710	143	28	2	2	NUM
fsr-3710	143	29	in	in	ADP
fsr-3710	143	30	table	table	NOUN
fsr-3710	143	31	3	3	NUM
fsr-3710	143	32	.	.	PUNCT
fsr-3710	144	1	so	so	ADV
fsr-3710	144	2	the	the	DET
fsr-3710	144	3	relevant	relevant	ADJ
fsr-3710	144	4	question	question	NOUN
fsr-3710	144	5	becomes	become	VERB
fsr-3710	144	6	,	,	PUNCT
fsr-3710	144	7	can	can	AUX
fsr-3710	144	8	any	any	PRON
fsr-3710	144	9	of	of	ADP
fsr-3710	144	10	the	the	DET
fsr-3710	144	11	diversification	diversification	NOUN
fsr-3710	144	12	indices	indice	VERB
fsr-3710	144	13	for	for	ADP
fsr-3710	144	14	the	the	DET
fsr-3710	144	15	unevenly	unevenly	ADV
fsr-3710	144	16	distributed	distribute	VERB
fsr-3710	144	17	portfolios	portfolio	NOUN
fsr-3710	144	18	produce	produce	VERB
fsr-3710	144	19	an	an	DET
fsr-3710	144	20	adjusted	adjusted	ADJ
fsr-3710	144	21	r	r	NOUN
fsr-3710	144	22	-	-	PUNCT
fsr-3710	144	23	square	square	NOUN
fsr-3710	144	24	as	as	ADV
fsr-3710	144	25	good	good	ADJ
fsr-3710	144	26	as	as	ADP
fsr-3710	144	27	the	the	DET
fsr-3710	144	28	r2	r2	NOUN
fsr-3710	144	29	in	in	ADP
fsr-3710	144	30	regression	regression	NOUN
fsr-3710	144	31	2	2	NUM
fsr-3710	144	32	.	.	PUNCT
fsr-3710	144	33	regressions	regression	NOUN
fsr-3710	144	34	3	3	NUM
fsr-3710	144	35	through	through	ADP
fsr-3710	144	36	7	7	NUM
fsr-3710	144	37	reported	report	VERB
fsr-3710	144	38	in	in	ADP
fsr-3710	144	39	table	table	NOUN
fsr-3710	144	40	3	3	NUM
fsr-3710	144	41	are	be	AUX
fsr-3710	144	42	regressions	regression	NOUN
fsr-3710	144	43	of	of	ADP
fsr-3710	144	44	the	the	DET
fsr-3710	144	45	portfolio	portfolio	NOUN
fsr-3710	144	46	standard	standard	ADJ
fsr-3710	144	47	deviations	deviation	NOUN
fsr-3710	144	48	against	against	ADP
fsr-3710	144	49	the	the	DET
fsr-3710	144	50	diversification	diversification	NOUN
fsr-3710	144	51	indices	index	NOUN
fsr-3710	144	52	for	for	ADP
fsr-3710	144	53	each	each	PRON
fsr-3710	144	54	of	of	ADP
fsr-3710	144	55	the	the	DET
fsr-3710	144	56	portfolios	portfolio	NOUN
fsr-3710	144	57	.	.	PUNCT
fsr-3710	145	1	di(l	di(l	PROPN
fsr-3710	145	2	)	)	PUNCT
fsr-3710	146	1	(	(	PUNCT
fsr-3710	146	2	the	the	DET
fsr-3710	146	3	complement	complement	NOUN
fsr-3710	146	4	of	of	ADP
fsr-3710	146	5	the	the	DET
fsr-3710	146	6	herfindahl	herfindahl	NOUN
fsr-3710	146	7	)	)	PUNCT
fsr-3710	146	8	,	,	PUNCT
fsr-3710	146	9	provides	provide	VERB
fsr-3710	146	10	virtually	virtually	ADV
fsr-3710	146	11	the	the	DET
fsr-3710	146	12	same	same	ADJ
fsr-3710	146	13	explanatory	explanatory	ADJ
fsr-3710	146	14	power	power	NOUN
fsr-3710	146	15	as	as	ADP
fsr-3710	146	16	the	the	DET
fsr-3710	146	17	e&a	e&a	PROPN
fsr-3710	146	18	study	study	NOUN
fsr-3710	146	19	with	with	ADP
fsr-3710	146	20	an	an	DET
fsr-3710	146	21	adjusted	adjusted	ADJ
fsr-3710	146	22	r	r	NOUN
fsr-3710	146	23	-	-	PUNCT
fsr-3710	146	24	square	square	NOUN
fsr-3710	146	25	of	of	ADP
fsr-3710	146	26	s48	s48	PROPN
fsr-3710	146	27	.	.	PUNCT
fsr-3710	147	1	di(2	di(2	PROPN
fsr-3710	147	2	)	)	PUNCT
fsr-3710	147	3	and	and	CCONJ
fsr-3710	147	4	di(3	di(3	PROPN
fsr-3710	147	5	)	)	PUNCT
fsr-3710	147	6	appear	appear	VERB
fsr-3710	147	7	as	as	ADV
fsr-3710	147	8	good	good	ADJ
fsr-3710	147	9	as	as	ADP
fsr-3710	147	10	di	di	NOUN
fsr-3710	147	11	(	(	PUNCT
fsr-3710	147	12	1	1	NUM
fsr-3710	147	13	)	)	PUNCT
fsr-3710	147	14	with	with	ADP
fsr-3710	147	15	adjusted	adjusted	ADJ
fsr-3710	147	16	r	r	NOUN
fsr-3710	147	17	-	-	PUNCT
fsr-3710	147	18	squares	square	NOUN
fsr-3710	147	19	of	of	ADP
fsr-3710	147	20	.544	.544	NUM
fsr-3710	147	21	for	for	ADP
fsr-3710	147	22	each	each	PRON
fsr-3710	147	23	.	.	PUNCT
fsr-3710	148	1	di(4	di(4	NOUN
fsr-3710	148	2	)	)	PUNCT
fsr-3710	148	3	and	and	CCONJ
fsr-3710	148	4	di(5	di(5	NOUN
fsr-3710	148	5	)	)	PUNCT
fsr-3710	148	6	are	be	AUX
fsr-3710	148	7	clearly	clearly	ADV
fsr-3710	148	8	weaker	weak	ADJ
fsr-3710	148	9	indices	index	NOUN
fsr-3710	148	10	with	with	ADP
fsr-3710	148	11	adjusted	adjusted	ADJ
fsr-3710	148	12	r	r	NOUN
fsr-3710	148	13	-	-	PUNCT
fsr-3710	148	14	squares	square	NOUN
fsr-3710	148	15	of	of	ADP
fsr-3710	148	16	.5	.5	NUM
fsr-3710	148	17	11	11	NUM
fsr-3710	148	18	and	and	CCONJ
fsr-3710	148	19	.479	.479	NUM
fsr-3710	148	20	.	.	PUNCT
fsr-3710	148	21	”	"	PUNCT
fsr-3710	149	1	based	base	VERB
fsr-3710	149	2	on	on	ADP
fsr-3710	149	3	the	the	DET
fsr-3710	149	4	results	result	NOUN
fsr-3710	149	5	in	in	ADP
fsr-3710	149	6	table	table	NOUN
fsr-3710	149	7	3	3	NUM
fsr-3710	149	8	,	,	PUNCT
fsr-3710	149	9	we	we	PRON
fsr-3710	149	10	conclude	conclude	VERB
fsr-3710	149	11	that	that	SCONJ
fsr-3710	149	12	at	at	ADV
fsr-3710	149	13	least	least	ADV
fsr-3710	149	14	three	three	NUM
fsr-3710	149	15	indices	index	NOUN
fsr-3710	149	16	exist	exist	VERB
fsr-3710	149	17	which	which	PRON
fsr-3710	149	18	explain	explain	VERB
fsr-3710	149	19	the	the	DET
fsr-3710	149	20	degree	degree	NOUN
fsr-3710	149	21	of	of	ADP
fsr-3710	149	22	diversification	diversification	NOUN
fsr-3710	149	23	of	of	ADP
fsr-3710	149	24	unevenly	unevenly	ADV
fsr-3710	149	25	distributed	distribute	VERB
fsr-3710	149	26	portfolios	portfolio	NOUN
fsr-3710	149	27	as	as	ADV
fsr-3710	149	28	well	well	ADV
fsr-3710	149	29	as	as	ADP
fsr-3710	149	30	portfolio	portfolio	NOUN
fsr-3710	149	31	size	size	NOUN
fsr-3710	149	32	does	do	VERB
fsr-3710	149	33	for	for	ADP
fsr-3710	149	34	evenly	evenly	ADV
fsr-3710	149	35	distributed	distribute	VERB
fsr-3710	149	36	portfolios	portfolio	NOUN
fsr-3710	149	37	.	.	PUNCT
fsr-3710	150	1	although	although	SCONJ
fsr-3710	150	2	we	we	PRON
fsr-3710	150	3	believe	believe	VERB
fsr-3710	150	4	any	any	PRON
fsr-3710	150	5	of	of	ADP
fsr-3710	150	6	the	the	DET
fsr-3710	150	7	three	three	NUM
fsr-3710	150	8	could	could	AUX
fsr-3710	150	9	be	be	AUX
fsr-3710	150	10	used	use	VERB
fsr-3710	150	11	to	to	PART
fsr-3710	150	12	measure	measure	VERB
fsr-3710	150	13	portfolio	portfolio	NOUN
fsr-3710	150	14	diversification	diversification	NOUN
fsr-3710	150	15	,	,	PUNCT
fsr-3710	150	16	we	we	PRON
fsr-3710	150	17	recommend	recommend	VERB
fsr-3710	150	18	the	the	DET
fsr-3710	150	19	complement	complement	NOUN
fsr-3710	150	20	of	of	ADP
fsr-3710	150	21	the	the	DET
fsr-3710	150	22	herfindahl	herfindahl	NOUN
fsr-3710	150	23	(	(	PUNCT
fsr-3710	150	24	di(l	di(l	NOUN
fsr-3710	150	25	)	)	PUNCT
fsr-3710	150	26	)	)	PUNCT
fsr-3710	150	27	because	because	SCONJ
fsr-3710	150	28	we	we	PRON
fsr-3710	150	29	find	find	VERB
fsr-3710	150	30	it	it	PRON
fsr-3710	150	31	to	to	PART
fsr-3710	150	32	be	be	AUX
fsr-3710	150	33	the	the	DET
fsr-3710	150	34	best	well	ADV
fsr-3710	150	35	known	know	VERB
fsr-3710	150	36	of	of	ADP
fsr-3710	150	37	82	82	NUM
fsr-3710	150	38	f'inancialservicesreview,2(2	f'inancialservicesreview,2(2	NOUN
fsr-3710	150	39	)	)	PUNCT
fsr-3710	150	40	1993	1993	NUM
fsr-3710	151	1	the	the	DET
fsr-3710	151	2	various	various	ADJ
fsr-3710	151	3	measures	measure	NOUN
fsr-3710	151	4	and	and	CCONJ
fsr-3710	151	5	it	it	PRON
fsr-3710	151	6	is	be	AUX
fsr-3710	151	7	a	a	DET
fsr-3710	151	8	simpler	simple	ADJ
fsr-3710	151	9	mathematical	mathematical	ADJ
fsr-3710	151	10	computation	computation	NOUN
fsr-3710	151	11	than	than	ADP
fsr-3710	151	12	the	the	DET
fsr-3710	151	13	other	other	ADJ
fsr-3710	151	14	two	two	NUM
fsr-3710	151	15	.	.	PUNCT
fsr-3710	152	1	v.	v.	ADP
fsr-3710	152	2	standardsofdiversification	standardsofdiversification	NOUN
fsr-3710	152	3	the	the	DET
fsr-3710	152	4	use	use	NOUN
fsr-3710	152	5	of	of	ADP
fsr-3710	152	6	the	the	DET
fsr-3710	152	7	classical	classical	ADJ
fsr-3710	152	8	works	work	NOUN
fsr-3710	152	9	to	to	PART
fsr-3710	152	10	define	define	VERB
fsr-3710	152	11	a	a	DET
fsr-3710	152	12	standard	standard	NOUN
fsr-3710	152	13	in	in	ADP
fsr-3710	152	14	this	this	DET
fsr-3710	152	15	section	section	NOUN
fsr-3710	152	16	,	,	PUNCT
fsr-3710	152	17	we	we	PRON
fsr-3710	152	18	seek	seek	VERB
fsr-3710	152	19	to	to	PART
fsr-3710	152	20	clarify	clarify	VERB
fsr-3710	152	21	the	the	DET
fsr-3710	152	22	explicit	explicit	ADJ
fsr-3710	152	23	or	or	CCONJ
fsr-3710	152	24	implicit	implicit	ADJ
fsr-3710	152	25	criteria	criterion	NOUN
fsr-3710	152	26	used	use	VERB
fsr-3710	152	27	by	by	ADP
fsr-3710	152	28	e&a	e&a	PROPN
fsr-3710	152	29	and	and	CCONJ
fsr-3710	152	30	f&l	f&l	PROPN
fsr-3710	152	31	to	to	PART
fsr-3710	152	32	determine	determine	VERB
fsr-3710	152	33	the	the	DET
fsr-3710	152	34	minimum	minimum	ADJ
fsr-3710	152	35	number	number	NOUN
fsr-3710	152	36	of	of	ADP
fsr-3710	152	37	securities	security	NOUN
fsr-3710	152	38	in	in	ADP
fsr-3710	152	39	an	an	DET
fsr-3710	152	40	evenly	evenly	ADV
fsr-3710	152	41	-	-	PUNCT
fsr-3710	152	42	weighted	weight	VERB
fsr-3710	152	43	portfolio	portfolio	NOUN
fsr-3710	152	44	necessary	necessary	ADJ
fsr-3710	152	45	to	to	PART
fsr-3710	152	46	achieve	achieve	VERB
fsr-3710	152	47	adequate	adequate	ADJ
fsr-3710	152	48	diversification	diversification	NOUN
fsr-3710	152	49	.	.	PUNCT
fsr-3710	153	1	we	we	PRON
fsr-3710	153	2	then	then	ADV
fsr-3710	153	3	will	will	AUX
fsr-3710	153	4	apply	apply	VERB
fsr-3710	153	5	these	these	DET
fsr-3710	153	6	same	same	ADJ
fsr-3710	153	7	criteria	criterion	NOUN
fsr-3710	153	8	to	to	PART
fsr-3710	153	9	ascertain	ascertain	VERB
fsr-3710	153	10	the	the	DET
fsr-3710	153	11	minimum	minimum	ADJ
fsr-3710	153	12	value	value	NOUN
fsr-3710	153	13	of	of	ADP
fsr-3710	153	14	index	index	NOUN
fsr-3710	153	15	di(l	di(l	PUNCT
fsr-3710	153	16	)	)	PUNCT
fsr-3710	153	17	that	that	PRON
fsr-3710	153	18	is	be	AUX
fsr-3710	153	19	necessary	necessary	ADJ
fsr-3710	153	20	to	to	PART
fsr-3710	153	21	achieve	achieve	VERB
fsr-3710	153	22	adequate	adequate	ADJ
fsr-3710	153	23	diversification	diversification	NOUN
fsr-3710	153	24	.	.	PUNCT
fsr-3710	154	1	as	as	SCONJ
fsr-3710	154	2	stated	state	VERB
fsr-3710	154	3	in	in	ADP
fsr-3710	154	4	section	section	PROPN
fsr-3710	154	5	ii	ii	PROPN
fsr-3710	154	6	,	,	PUNCT
fsr-3710	154	7	e&a	e&a	PROPN
fsr-3710	154	8	conclude	conclude	VERB
fsr-3710	154	9	that	that	SCONJ
fsr-3710	154	10	a	a	DET
fsr-3710	154	11	ten	ten	NUM
fsr-3710	154	12	-	-	PUNCT
fsr-3710	154	13	security	security	NOUN
fsr-3710	154	14	portfolio	portfolio	NOUN
fsr-3710	154	15	provides	provide	VERB
fsr-3710	154	16	adequate	adequate	ADJ
fsr-3710	154	17	diversification	diversification	NOUN
fsr-3710	154	18	.	.	PUNCT
fsr-3710	155	1	for	for	ADP
fsr-3710	155	2	one	one	NUM
fsr-3710	155	3	and	and	CCONJ
fsr-3710	155	4	10	10	NUM
fsr-3710	155	5	security	security	NOUN
fsr-3710	155	6	portfolios	portfolio	NOUN
fsr-3710	155	7	,	,	PUNCT
fsr-3710	155	8	the	the	DET
fsr-3710	155	9	mean	mean	ADJ
fsr-3710	155	10	standard	standard	ADJ
fsr-3710	155	11	deviations	deviation	NOUN
fsr-3710	155	12	using	use	VERB
fsr-3710	155	13	their	their	PRON
fsr-3710	155	14	equation	equation	NOUN
fsr-3710	155	15	would	would	AUX
fsr-3710	155	16	be	be	AUX
fsr-3710	155	17	.20535	.20535	PROPN
fsr-3710	155	18	and	and	CCONJ
fsr-3710	155	19	.127725	.127725	PROPN
fsr-3710	155	20	.	.	PUNCT
fsr-3710	156	1	the	the	DET
fsr-3710	156	2	reported	report	VERB
fsr-3710	156	3	standard	standard	ADJ
fsr-3710	156	4	deviation	deviation	NOUN
fsr-3710	156	5	for	for	ADP
fsr-3710	156	6	the	the	DET
fsr-3710	156	7	portfolio	portfolio	NOUN
fsr-3710	156	8	containing	contain	VERB
fsr-3710	156	9	all	all	DET
fsr-3710	156	10	the	the	DET
fsr-3710	156	11	securities	security	NOUN
fsr-3710	156	12	in	in	ADP
fsr-3710	156	13	the	the	DET
fsr-3710	156	14	population	population	NOUN
fsr-3710	156	15	(	(	PUNCT
fsr-3710	156	16	the	the	DET
fsr-3710	156	17	surrogate	surrogate	ADJ
fsr-3710	156	18	market	market	NOUN
fsr-3710	156	19	portfolio	portfolio	NOUN
fsr-3710	156	20	)	)	PUNCT
fsr-3710	156	21	was	be	AUX
fsr-3710	156	22	.	.	PUNCT
fsr-3710	157	1	1166	1166	NUM
fsr-3710	157	2	.	.	PUNCT
fsr-3710	158	1	thus	thus	ADV
fsr-3710	158	2	,	,	PUNCT
fsr-3710	158	3	e&a	e&a	PROPN
fsr-3710	158	4	imply	imply	VERB
fsr-3710	158	5	that	that	SCONJ
fsr-3710	158	6	a	a	DET
fsr-3710	158	7	reasonably	reasonably	ADV
fsr-3710	158	8	diversi	diversi	NOUN
fsr-3710	158	9	fied	fie	VERB
fsr-3710	158	10	portfolio	portfolio	NOUN
fsr-3710	158	11	size	size	NOUN
fsr-3710	158	12	provides	provide	VERB
fsr-3710	158	13	a	a	DET
fsr-3710	158	14	reduction	reduction	NOUN
fsr-3710	158	15	in	in	ADP
fsr-3710	158	16	unsystematic	unsystematic	ADJ
fsr-3710	158	17	risk	risk	NOUN
fsr-3710	158	18	of	of	ADP
fsr-3710	158	19	87.5	87.5	NUM
fsr-3710	158	20	percent	percent	NOUN
fsr-3710	158	21	(	(	PUNCT
fsr-3710	158	22	(	(	PUNCT
fsr-3710	158	23	.20535	.20535	PROPN
fsr-3710	158	24	-	-	PUNCT
fsr-3710	158	25	.	.	PUNCT
fsr-3710	159	1	127725)/(.20535	127725)/(.20535	PROPN
fsr-3710	159	2	.1166	.1166	PROPN
fsr-3710	159	3	)	)	PUNCT
fsr-3710	160	1	=	=	PUNCT
fsr-3710	160	2	.875	.875	NUM
fsr-3710	160	3	)	)	PUNCT
fsr-3710	160	4	.	.	PUNCT
fsr-3710	161	1	f&l	f&l	PROPN
fsr-3710	161	2	reported	report	VERB
fsr-3710	161	3	that	that	SCONJ
fsr-3710	161	4	approximately	approximately	ADV
fsr-3710	161	5	80	80	NUM
fsr-3710	161	6	percent	percent	NOUN
fsr-3710	161	7	of	of	ADP
fsr-3710	161	8	the	the	DET
fsr-3710	161	9	achievable	achievable	ADJ
fsr-3710	161	10	reduction	reduction	NOUN
fsr-3710	161	11	in	in	ADP
fsr-3710	161	12	dispersion	dispersion	NOUN
fsr-3710	161	13	can	can	AUX
fsr-3710	161	14	be	be	AUX
fsr-3710	161	15	attained	attain	VERB
fsr-3710	161	16	by	by	ADP
fsr-3710	161	17	holding	hold	VERB
fsr-3710	161	18	eight	eight	NUM
fsr-3710	161	19	stocks	stock	NOUN
fsr-3710	161	20	.	.	PUNCT
fsr-3710	162	1	this	this	DET
fsr-3710	162	2	80	80	NUM
fsr-3710	162	3	percent	percent	NOUN
fsr-3710	162	4	is	be	AUX
fsr-3710	162	5	quite	quite	ADV
fsr-3710	162	6	close	close	ADJ
fsr-3710	162	7	to	to	ADP
fsr-3710	162	8	the	the	DET
fsr-3710	162	9	87.5	87.5	NUM
fsr-3710	162	10	percent	percent	NOUN
fsr-3710	162	11	reduction	reduction	NOUN
fsr-3710	162	12	in	in	ADP
fsr-3710	162	13	unsystematic	unsystematic	ADJ
fsr-3710	162	14	risk	risk	NOUN
fsr-3710	162	15	indicated	indicate	VERB
fsr-3710	162	16	by	by	ADP
fsr-3710	162	17	e&a	e&a	PROPN
fsr-3710	162	18	’s	’s	PART
fsr-3710	162	19	study	study	NOUN
fsr-3710	162	20	.	.	PUNCT
fsr-3710	163	1	if	if	SCONJ
fsr-3710	163	2	we	we	PRON
fsr-3710	163	3	accept	accept	VERB
fsr-3710	163	4	the	the	DET
fsr-3710	163	5	criterion	criterion	NOUN
fsr-3710	163	6	for	for	ADP
fsr-3710	163	7	the	the	DET
fsr-3710	163	8	minimum	minimum	ADJ
fsr-3710	163	9	size	size	NOUN
fsr-3710	163	10	portfolio	portfolio	NOUN
fsr-3710	163	11	to	to	PART
fsr-3710	163	12	achieve	achieve	VERB
fsr-3710	163	13	reasonable	reasonable	ADJ
fsr-3710	163	14	diversification	diversification	NOUN
fsr-3710	163	15	is	be	AUX
fsr-3710	163	16	one	one	NUM
fsr-3710	163	17	that	that	PRON
fsr-3710	163	18	on	on	ADP
fsr-3710	163	19	average	average	ADJ
fsr-3710	163	20	reduces	reduce	VERB
fsr-3710	163	21	unsystematic	unsystematic	ADJ
fsr-3710	163	22	risk	risk	NOUN
fsr-3710	163	23	by	by	ADP
fsr-3710	163	24	80	80	NUM
fsr-3710	163	25	to	to	PART
fsr-3710	163	26	87.5	87.5	NUM
fsr-3710	163	27	percent	percent	NOUN
fsr-3710	163	28	,	,	PUNCT
fsr-3710	163	29	we	we	PRON
fsr-3710	163	30	can	can	AUX
fsr-3710	163	31	compute	compute	VERB
fsr-3710	163	32	the	the	DET
fsr-3710	163	33	diversification	diversification	NOUN
fsr-3710	163	34	index	index	NOUN
fsr-3710	163	35	value	value	NOUN
fsr-3710	163	36	that	that	PRON
fsr-3710	163	37	corresponds	correspond	VERB
fsr-3710	163	38	to	to	ADP
fsr-3710	163	39	each	each	PRON
fsr-3710	163	40	of	of	ADP
fsr-3710	163	41	these	these	DET
fsr-3710	163	42	numbers	number	NOUN
fsr-3710	163	43	.	.	PUNCT
fsr-3710	164	1	the	the	DET
fsr-3710	164	2	mean	mean	ADJ
fsr-3710	164	3	standard	standard	ADJ
fsr-3710	164	4	deviation	deviation	NOUN
fsr-3710	164	5	for	for	ADP
fsr-3710	164	6	all	all	DET
fsr-3710	164	7	483	483	NUM
fsr-3710	164	8	securities	security	NOUN
fsr-3710	164	9	in	in	ADP
fsr-3710	164	10	our	our	PRON
fsr-3710	164	11	sample	sample	NOUN
fsr-3710	164	12	is	be	AUX
fsr-3710	164	13	8.77	8.77	NUM
fsr-3710	164	14	percent	percent	NOUN
fsr-3710	164	15	and	and	CCONJ
fsr-3710	164	16	the	the	DET
fsr-3710	164	17	standard	standard	ADJ
fsr-3710	164	18	deviation	deviation	NOUN
fsr-3710	164	19	for	for	ADP
fsr-3710	164	20	the	the	DET
fsr-3710	164	21	portfolio	portfolio	NOUN
fsr-3710	164	22	consisting	consist	VERB
fsr-3710	164	23	of	of	ADP
fsr-3710	164	24	all	all	DET
fsr-3710	164	25	the	the	DET
fsr-3710	164	26	securities	security	NOUN
fsr-3710	164	27	(	(	PUNCT
fsr-3710	164	28	our	our	PRON
fsr-3710	164	29	surrogate	surrogate	NOUN
fsr-3710	164	30	for	for	ADP
fsr-3710	164	31	the	the	DET
fsr-3710	164	32	market	market	NOUN
fsr-3710	164	33	portfolio	portfolio	NOUN
fsr-3710	164	34	)	)	PUNCT
fsr-3710	164	35	is	be	AUX
fsr-3710	164	36	4.01	4.01	NUM
fsr-3710	164	37	percent	percent	NOUN
fsr-3710	164	38	.	.	PUNCT
fsr-3710	165	1	an	an	DET
fsr-3710	165	2	80	80	NUM
fsr-3710	165	3	percent	percent	NOUN
fsr-3710	165	4	reduction	reduction	NOUN
fsr-3710	165	5	in	in	ADP
fsr-3710	165	6	unsystematic	unsystematic	ADJ
fsr-3710	165	7	risk	risk	NOUN
fsr-3710	165	8	would	would	AUX
fsr-3710	165	9	imply	imply	VERB
fsr-3710	165	10	a	a	DET
fsr-3710	165	11	portfolio	portfolio	NOUN
fsr-3710	165	12	with	with	ADP
fsr-3710	165	13	a	a	DET
fsr-3710	165	14	standard	standard	ADJ
fsr-3710	165	15	deviation	deviation	NOUN
fsr-3710	165	16	of	of	ADP
fsr-3710	165	17	4.96	4.96	NUM
fsr-3710	165	18	percent	percent	NOUN
fsr-3710	165	19	(	(	PUNCT
fsr-3710	165	20	4.01	4.01	NUM
fsr-3710	165	21	+	+	NOUN
fsr-3710	165	22	.20	.20	NUM
fsr-3710	165	23	x	x	SYM
fsr-3710	165	24	(	(	PUNCT
fsr-3710	165	25	8.77	8.77	NUM
fsr-3710	165	26	4.01	4.01	NUM
fsr-3710	165	27	)	)	PUNCT
fsr-3710	165	28	)	)	PUNCT
fsr-3710	165	29	.	.	PUNCT
fsr-3710	166	1	similarly	similarly	ADV
fsr-3710	166	2	,	,	PUNCT
fsr-3710	166	3	an	an	DET
fsr-3710	166	4	87.5	87.5	NUM
fsr-3710	166	5	percent	percent	NOUN
fsr-3710	166	6	reduction	reduction	NOUN
fsr-3710	166	7	in	in	ADP
fsr-3710	166	8	unsystematic	unsystematic	ADJ
fsr-3710	166	9	risk	risk	NOUN
fsr-3710	166	10	would	would	AUX
fsr-3710	166	11	imply	imply	VERB
fsr-3710	166	12	a	a	DET
fsr-3710	166	13	portfolio	portfolio	NOUN
fsr-3710	166	14	with	with	ADP
fsr-3710	166	15	a	a	DET
fsr-3710	166	16	standard	standard	ADJ
fsr-3710	166	17	deviation	deviation	NOUN
fsr-3710	166	18	of	of	ADP
fsr-3710	166	19	4.60	4.60	NUM
fsr-3710	166	20	percent	percent	NOUN
fsr-3710	166	21	(	(	PUNCT
fsr-3710	166	22	4.01	4.01	NUM
fsr-3710	166	23	+	+	CCONJ
fsr-3710	166	24	.125	.125	NUM
fsr-3710	166	25	x	x	SYM
fsr-3710	166	26	(	(	PUNCT
fsr-3710	166	27	8.77	8.77	NUM
fsr-3710	166	28	4.01	4.01	NUM
fsr-3710	166	29	)	)	PUNCT
fsr-3710	166	30	)	)	PUNCT
fsr-3710	166	31	.	.	PUNCT
fsr-3710	167	1	if	if	SCONJ
fsr-3710	167	2	we	we	PRON
fsr-3710	167	3	use	use	VERB
fsr-3710	167	4	these	these	DET
fsr-3710	167	5	values	value	NOUN
fsr-3710	167	6	as	as	ADP
fsr-3710	167	7	the	the	DET
fsr-3710	167	8	dependent	dependent	ADJ
fsr-3710	167	9	variable	variable	NOUN
fsr-3710	167	10	in	in	ADP
fsr-3710	167	11	conjunction	conjunction	NOUN
fsr-3710	167	12	with	with	ADP
fsr-3710	167	13	the	the	DET
fsr-3710	167	14	coefficients	coefficient	NOUN
fsr-3710	167	15	from	from	ADP
fsr-3710	167	16	regression	regression	NOUN
fsr-3710	167	17	3	3	NUM
fsr-3710	167	18	,	,	PUNCT
fsr-3710	167	19	we	we	PRON
fsr-3710	167	20	obtain	obtain	VERB
fsr-3710	167	21	index	index	NOUN
fsr-3710	167	22	values	value	NOUN
fsr-3710	167	23	of	of	ADP
fsr-3710	167	24	.85	.85	NUM
fsr-3710	167	25	and	and	CCONJ
fsr-3710	167	26	.91.12	.91.12	PROPN
fsr-3710	167	27	based	base	VERB
fsr-3710	167	28	on	on	ADP
fsr-3710	167	29	the	the	DET
fsr-3710	167	30	explicit	explicit	ADJ
fsr-3710	167	31	and	and	CCONJ
fsr-3710	167	32	implicit	implicit	ADJ
fsr-3710	167	33	criteria	criterion	NOUN
fsr-3710	167	34	used	use	VERB
fsr-3710	167	35	by	by	ADP
fsr-3710	167	36	e&a	e&a	PROPN
fsr-3710	167	37	and	and	CCONJ
fsr-3710	167	38	f&l	f&l	PROPN
fsr-3710	167	39	,	,	PUNCT
fsr-3710	167	40	we	we	PRON
fsr-3710	167	41	offer	offer	VERB
fsr-3710	167	42	as	as	ADP
fsr-3710	167	43	an	an	DET
fsr-3710	167	44	observation	observation	NOUN
fsr-3710	167	45	that	that	SCONJ
fsr-3710	167	46	index	index	NOUN
fsr-3710	167	47	values	value	NOUN
fsr-3710	167	48	of	of	ADP
fsr-3710	167	49	less	less	ADJ
fsr-3710	167	50	than	than	ADP
fsr-3710	167	51	.85	.85	NUM
fsr-3710	167	52	would	would	AUX
fsr-3710	167	53	imply	imply	VERB
fsr-3710	167	54	a	a	DET
fsr-3710	167	55	portfolio	portfolio	NOUN
fsr-3710	167	56	was	be	AUX
fsr-3710	167	57	probably	probably	ADV
fsr-3710	167	58	not	not	PART
fsr-3710	167	59	adequately	adequately	ADV
fsr-3710	167	60	diversified	diversified	ADJ
fsr-3710	167	61	.	.	PUNCT
fsr-3710	168	1	portfolios	portfolio	NOUN
fsr-3710	168	2	with	with	ADP
fsr-3710	168	3	index	index	NOUN
fsr-3710	168	4	values	value	NOUN
fsr-3710	168	5	greater	great	ADJ
fsr-3710	168	6	than	than	ADP
fsr-3710	168	7	.91	.91	NUM
fsr-3710	168	8	probably	probably	ADV
fsr-3710	168	9	are	be	AUX
fsr-3710	168	10	adequately	adequately	ADV
fsr-3710	168	11	diversified	diversify	VERB
fsr-3710	168	12	.	.	PUNCT
fsr-3710	169	1	applying	apply	VERB
fsr-3710	169	2	the	the	DET
fsr-3710	169	3	index	index	NOUN
fsr-3710	169	4	without	without	ADP
fsr-3710	169	5	a	a	DET
fsr-3710	169	6	standard	standard	NOUN
fsr-3710	169	7	it	it	PRON
fsr-3710	169	8	is	be	AUX
fsr-3710	169	9	our	our	PRON
fsr-3710	169	10	hope	hope	NOUN
fsr-3710	169	11	that	that	SCONJ
fsr-3710	169	12	the	the	DET
fsr-3710	169	13	diversification	diversification	NOUN
fsr-3710	169	14	index	index	NOUN
fsr-3710	169	15	identified	identify	VERB
fsr-3710	169	16	in	in	ADP
fsr-3710	169	17	this	this	DET
fsr-3710	169	18	paper	paper	NOUN
fsr-3710	169	19	becomes	become	VERB
fsr-3710	169	20	a	a	DET
fsr-3710	169	21	standard	standard	ADJ
fsr-3710	169	22	component	component	NOUN
fsr-3710	169	23	of	of	ADP
fsr-3710	169	24	brokerage	brokerage	NOUN
fsr-3710	169	25	account	account	NOUN
fsr-3710	169	26	statements	statement	NOUN
fsr-3710	169	27	.	.	PUNCT
fsr-3710	170	1	if	if	SCONJ
fsr-3710	170	2	the	the	DET
fsr-3710	170	3	cutoff	cutoff	NOUN
fsr-3710	170	4	values	value	NOUN
fsr-3710	170	5	for	for	ADP
fsr-3710	170	6	diversification	diversification	NOUN
fsr-3710	170	7	are	be	AUX
fsr-3710	170	8	not	not	PART
fsr-3710	170	9	universally	universally	ADV
fsr-3710	170	10	or	or	CCONJ
fsr-3710	170	11	even	even	ADV
fsr-3710	170	12	popularly	popularly	ADV
fsr-3710	170	13	agreed	agree	VERB
fsr-3710	170	14	to	to	ADP
fsr-3710	170	15	,	,	PUNCT
fsr-3710	170	16	then	then	ADV
fsr-3710	170	17	it	it	PRON
fsr-3710	170	18	is	be	AUX
fsr-3710	170	19	doubtful	doubtful	ADJ
fsr-3710	170	20	an	an	DET
fsr-3710	170	21	index	index	NOUN
fsr-3710	170	22	of	of	ADP
fsr-3710	170	23	portfolio	portfolio	NOUN
fsr-3710	170	24	diversifeation	diversifeation	PROPN
fsr-3710	170	25	83	83	NUM
fsr-3710	170	26	our	our	PRON
fsr-3710	170	27	index	index	NOUN
fsr-3710	170	28	will	will	AUX
fsr-3710	170	29	come	come	VERB
fsr-3710	170	30	into	into	ADP
fsr-3710	170	31	common	common	ADJ
fsr-3710	170	32	use	use	NOUN
fsr-3710	170	33	.	.	PUNCT
fsr-3710	171	1	there	there	PRON
fsr-3710	171	2	is	be	VERB
fsr-3710	171	3	an	an	DET
fsr-3710	171	4	alternative	alternative	ADJ
fsr-3710	171	5	way	way	NOUN
fsr-3710	171	6	to	to	PART
fsr-3710	171	7	provide	provide	VERB
fsr-3710	171	8	investors	investor	NOUN
fsr-3710	171	9	with	with	ADP
fsr-3710	171	10	the	the	DET
fsr-3710	171	11	information	information	NOUN
fsr-3710	171	12	provided	provide	VERB
fsr-3710	171	13	by	by	ADP
fsr-3710	171	14	our	our	PRON
fsr-3710	171	15	index	index	NOUN
fsr-3710	171	16	,	,	PUNCT
fsr-3710	171	17	without	without	ADP
fsr-3710	171	18	actually	actually	ADV
fsr-3710	171	19	citing	cite	VERB
fsr-3710	171	20	the	the	DET
fsr-3710	171	21	index	index	NOUN
fsr-3710	171	22	itself	itself	PRON
fsr-3710	171	23	.	.	PUNCT
fsr-3710	172	1	the	the	DET
fsr-3710	172	2	alternative	alternative	NOUN
fsr-3710	172	3	is	be	AUX
fsr-3710	172	4	that	that	SCONJ
fsr-3710	172	5	in	in	ADP
fsr-3710	172	6	lieu	lieu	NOUN
fsr-3710	172	7	of	of	ADP
fsr-3710	172	8	the	the	DET
fsr-3710	172	9	index	index	NOUN
fsr-3710	172	10	value	value	NOUN
fsr-3710	172	11	,	,	PUNCT
fsr-3710	172	12	investors	investor	NOUN
fsr-3710	172	13	could	could	AUX
fsr-3710	172	14	be	be	AUX
fsr-3710	172	15	told	tell	VERB
fsr-3710	172	16	the	the	DET
fsr-3710	172	17	diversification	diversification	NOUN
fsr-3710	172	18	equivalent	equivalent	ADJ
fsr-3710	172	19	of	of	ADP
fsr-3710	172	20	their	their	PRON
fsr-3710	172	21	portfolio	portfolio	NOUN
fsr-3710	172	22	if	if	SCONJ
fsr-3710	172	23	their	their	PRON
fsr-3710	172	24	portfolio	portfolio	NOUN
fsr-3710	172	25	were	be	AUX
fsr-3710	172	26	evenly	evenly	ADV
fsr-3710	172	27	distributed.i3	distributed.i3	PROPN
fsr-3710	172	28	for	for	ADP
fsr-3710	172	29	example	example	NOUN
fsr-3710	172	30	,	,	PUNCT
fsr-3710	172	31	we	we	PRON
fsr-3710	172	32	know	know	VERB
fsr-3710	172	33	that	that	SCONJ
fsr-3710	172	34	an	an	DET
fsr-3710	172	35	evenly	evenly	ADV
fsr-3710	172	36	distributed	distribute	VERB
fsr-3710	172	37	portfolio	portfolio	NOUN
fsr-3710	172	38	of	of	ADP
fsr-3710	172	39	eight	eight	NUM
fsr-3710	172	40	securities	security	NOUN
fsr-3710	172	41	produces	produce	VERB
fsr-3710	172	42	an	an	DET
fsr-3710	172	43	index	index	NOUN
fsr-3710	172	44	value	value	NOUN
fsr-3710	172	45	of	of	ADP
fsr-3710	172	46	.88	.88	NUM
fsr-3710	172	47	.	.	PUNCT
fsr-3710	173	1	therefore	therefore	ADV
fsr-3710	173	2	,	,	PUNCT
fsr-3710	173	3	if	if	SCONJ
fsr-3710	173	4	the	the	DET
fsr-3710	173	5	index	index	NOUN
fsr-3710	173	6	for	for	ADP
fsr-3710	173	7	a	a	DET
fsr-3710	173	8	portfolio	portfolio	NOUN
fsr-3710	173	9	rounded	round	VERB
fsr-3710	173	10	off	off	ADP
fsr-3710	173	11	to	to	ADP
fsr-3710	173	12	.88	.88	NUM
fsr-3710	173	13	,	,	PUNCT
fsr-3710	173	14	the	the	DET
fsr-3710	173	15	investor	investor	NOUN
fsr-3710	173	16	could	could	AUX
fsr-3710	173	17	be	be	AUX
fsr-3710	173	18	told	tell	VERB
fsr-3710	173	19	simply	simply	ADV
fsr-3710	173	20	that	that	SCONJ
fsr-3710	173	21	his	his	PRON
fsr-3710	173	22	diversification	diversification	NOUN
fsr-3710	173	23	is	be	AUX
fsr-3710	173	24	equivalent	equivalent	ADJ
fsr-3710	173	25	to	to	ADP
fsr-3710	173	26	an	an	DET
fsr-3710	173	27	evenly	evenly	ADV
fsr-3710	173	28	distributed	distribute	VERB
fsr-3710	173	29	portfolio	portfolio	NOUN
fsr-3710	173	30	of	of	ADP
fsr-3710	173	31	eight	eight	NUM
fsr-3710	173	32	securities	security	NOUN
fsr-3710	173	33	and	and	CCONJ
fsr-3710	173	34	the	the	DET
fsr-3710	173	35	investor	investor	NOUN
fsr-3710	173	36	could	could	AUX
fsr-3710	173	37	decide	decide	VERB
fsr-3710	173	38	for	for	ADP
fsr-3710	173	39	himself	himself	PRON
fsr-3710	173	40	if	if	SCONJ
fsr-3710	173	41	this	this	PRON
fsr-3710	173	42	was	be	AUX
fsr-3710	173	43	sufficient	sufficient	ADJ
fsr-3710	173	44	diversification	diversification	NOUN
fsr-3710	173	45	.	.	PUNCT
fsr-3710	174	1	vi	vi	X
fsr-3710	174	2	.	.	NOUN
fsr-3710	174	3	sijmmary	sijmmary	ADJ
fsr-3710	174	4	and	and	CCONJ
fsr-3710	174	5	conclusions	conclusion	NOUN
fsr-3710	174	6	,	,	PUNCT
fsr-3710	174	7	limitations	limitation	NOUN
fsr-3710	174	8	and	and	CCONJ
fsr-3710	174	9	extensions	extension	NOUN
fsr-3710	174	10	the	the	DET
fsr-3710	174	11	purpose	purpose	NOUN
fsr-3710	174	12	of	of	ADP
fsr-3710	174	13	this	this	DET
fsr-3710	174	14	paper	paper	NOUN
fsr-3710	174	15	has	have	AUX
fsr-3710	174	16	been	be	AUX
fsr-3710	174	17	to	to	PART
fsr-3710	174	18	explore	explore	VERB
fsr-3710	174	19	the	the	DET
fsr-3710	174	20	two	two	NUM
fsr-3710	174	21	questions	question	NOUN
fsr-3710	174	22	of	of	ADP
fsr-3710	174	23	1	1	NUM
fsr-3710	174	24	)	)	PUNCT
fsr-3710	174	25	whether	whether	SCONJ
fsr-3710	174	26	a	a	DET
fsr-3710	174	27	diversification	diversification	NOUN
fsr-3710	174	28	index	index	NOUN
fsr-3710	174	29	could	could	AUX
fsr-3710	174	30	measure	measure	VERB
fsr-3710	174	31	the	the	DET
fsr-3710	174	32	degree	degree	NOUN
fsr-3710	174	33	of	of	ADP
fsr-3710	174	34	diversification	diversification	NOUN
fsr-3710	174	35	of	of	ADP
fsr-3710	174	36	an	an	DET
fsr-3710	174	37	unevenly	unevenly	ADV
fsr-3710	174	38	distributed	distribute	VERB
fsr-3710	174	39	portfolio	portfolio	NOUN
fsr-3710	174	40	as	as	ADV
fsr-3710	174	41	well	well	ADV
fsr-3710	174	42	as	as	ADP
fsr-3710	174	43	the	the	DET
fsr-3710	174	44	number	number	NOUN
fsr-3710	174	45	of	of	ADP
fsr-3710	174	46	securities	security	NOUN
fsr-3710	174	47	does	do	VERB
fsr-3710	174	48	when	when	SCONJ
fsr-3710	174	49	the	the	DET
fsr-3710	174	50	holdings	holding	NOUN
fsr-3710	174	51	are	be	AUX
fsr-3710	174	52	evenly	evenly	ADV
fsr-3710	174	53	distributed	distribute	VERB
fsr-3710	174	54	,	,	PUNCT
fsr-3710	174	55	and	and	CCONJ
fsr-3710	174	56	2	2	X
fsr-3710	174	57	)	)	PUNCT
fsr-3710	174	58	if	if	SCONJ
fsr-3710	174	59	such	such	DET
fsr-3710	174	60	an	an	DET
fsr-3710	174	61	index	index	NOUN
fsr-3710	174	62	exists	exist	VERB
fsr-3710	174	63	,	,	PUNCT
fsr-3710	174	64	what	what	DET
fsr-3710	174	65	index	index	NOUN
fsr-3710	174	66	value	value	NOUN
fsr-3710	174	67	represents	represent	VERB
fsr-3710	174	68	a	a	DET
fsr-3710	174	69	reasonably	reasonably	ADV
fsr-3710	174	70	diversified	diversified	ADJ
fsr-3710	174	71	portfolio	portfolio	NOUN
fsr-3710	174	72	.	.	PUNCT
fsr-3710	175	1	variations	variation	NOUN
fsr-3710	175	2	of	of	ADP
fsr-3710	175	3	five	five	NUM
fsr-3710	175	4	measures	measure	NOUN
fsr-3710	175	5	of	of	ADP
fsr-3710	175	6	diversification	diversification	NOUN
fsr-3710	175	7	that	that	PRON
fsr-3710	175	8	are	be	AUX
fsr-3710	175	9	frequently	frequently	ADV
fsr-3710	175	10	used	use	VERB
fsr-3710	175	11	in	in	ADP
fsr-3710	175	12	the	the	DET
fsr-3710	175	13	industrial	industrial	ADJ
fsr-3710	175	14	organization	organization	NOUN
fsr-3710	175	15	literature	literature	NOUN
fsr-3710	175	16	on	on	ADP
fsr-3710	175	17	industry	industry	NOUN
fsr-3710	175	18	diversification	diversification	NOUN
fsr-3710	175	19	were	be	AUX
fsr-3710	175	20	identified	identify	VERB
fsr-3710	175	21	and	and	CCONJ
fsr-3710	175	22	tested	test	VERB
fsr-3710	175	23	.	.	PUNCT
fsr-3710	176	1	three	three	NUM
fsr-3710	176	2	of	of	ADP
fsr-3710	176	3	these	these	DET
fsr-3710	176	4	five	five	NUM
fsr-3710	176	5	indices	index	NOUN
fsr-3710	176	6	were	be	AUX
fsr-3710	176	7	found	find	VERB
fsr-3710	176	8	to	to	PART
fsr-3710	176	9	be	be	AUX
fsr-3710	176	10	satisfactory	satisfactory	ADJ
fsr-3710	176	11	measures	measure	NOUN
fsr-3710	176	12	of	of	ADP
fsr-3710	176	13	diversification	diversification	NOUN
fsr-3710	176	14	.	.	PUNCT
fsr-3710	177	1	the	the	DET
fsr-3710	177	2	complement	complement	NOUN
fsr-3710	177	3	of	of	ADP
fsr-3710	177	4	the	the	DET
fsr-3710	177	5	herfindahl	herfindahl	NOUN
fsr-3710	177	6	index	index	NOUN
fsr-3710	177	7	was	be	AUX
fsr-3710	177	8	recommended	recommend	VERB
fsr-3710	177	9	as	as	ADP
fsr-3710	177	10	the	the	DET
fsr-3710	177	11	measure	measure	NOUN
fsr-3710	177	12	of	of	ADP
fsr-3710	177	13	diversification	diversification	NOUN
fsr-3710	177	14	for	for	ADP
fsr-3710	177	15	unevenly	unevenly	ADV
fsr-3710	177	16	distributed	distribute	VERB
fsr-3710	177	17	portfolios	portfolio	NOUN
fsr-3710	177	18	based	base	VERB
fsr-3710	177	19	on	on	ADP
fsr-3710	177	20	its	its	PRON
fsr-3710	177	21	simplicity	simplicity	NOUN
fsr-3710	177	22	and	and	CCONJ
fsr-3710	177	23	wide	wide	ADV
fsr-3710	177	24	-	-	PUNCT
fsr-3710	177	25	spread	spread	ADJ
fsr-3710	177	26	usage	usage	NOUN
fsr-3710	177	27	.	.	PUNCT
fsr-3710	178	1	based	base	VERB
fsr-3710	178	2	on	on	ADP
fsr-3710	178	3	the	the	DET
fsr-3710	178	4	explicit	explicit	ADJ
fsr-3710	178	5	and	and	CCONJ
fsr-3710	178	6	implicit	implicit	ADJ
fsr-3710	178	7	criteria	criterion	NOUN
fsr-3710	178	8	used	use	VERB
fsr-3710	178	9	by	by	ADP
fsr-3710	178	10	e&a	e&a	PROPN
fsr-3710	178	11	and	and	CCONJ
fsr-3710	178	12	f&l	f&l	PROPN
fsr-3710	178	13	,	,	PUNCT
fsr-3710	178	14	we	we	PRON
fsr-3710	178	15	concluded	conclude	VERB
fsr-3710	178	16	that	that	SCONJ
fsr-3710	178	17	index	index	NOUN
fsr-3710	178	18	values	value	NOUN
fsr-3710	178	19	of	of	ADP
fsr-3710	178	20	less	less	ADJ
fsr-3710	178	21	than	than	ADP
fsr-3710	178	22	.85	.85	NUM
fsr-3710	178	23	imply	imply	VERB
fsr-3710	178	24	that	that	SCONJ
fsr-3710	178	25	a	a	DET
fsr-3710	178	26	portfolio	portfolio	NOUN
fsr-3710	178	27	was	be	AUX
fsr-3710	178	28	probably	probably	ADV
fsr-3710	178	29	not	not	PART
fsr-3710	178	30	adequately	adequately	ADV
fsr-3710	178	31	diversified	diversified	ADJ
fsr-3710	178	32	.	.	PUNCT
fsr-3710	179	1	portfolios	portfolio	NOUN
fsr-3710	179	2	with	with	ADP
fsr-3710	179	3	index	index	NOUN
fsr-3710	179	4	values	value	NOUN
fsr-3710	179	5	greater	great	ADJ
fsr-3710	179	6	than	than	SCONJ
fsr-3710	179	7	.91	.91	NUM
fsr-3710	179	8	were	be	AUX
fsr-3710	179	9	probably	probably	ADV
fsr-3710	179	10	adequately	adequately	ADV
fsr-3710	179	11	diversified	diversify	VERB
fsr-3710	179	12	.	.	PUNCT
fsr-3710	180	1	we	we	PRON
fsr-3710	180	2	also	also	ADV
fsr-3710	180	3	indicated	indicate	VERB
fsr-3710	180	4	that	that	SCONJ
fsr-3710	180	5	the	the	DET
fsr-3710	180	6	index	index	NOUN
fsr-3710	180	7	could	could	AUX
fsr-3710	180	8	be	be	AUX
fsr-3710	180	9	used	use	VERB
fsr-3710	180	10	to	to	PART
fsr-3710	180	11	define	define	VERB
fsr-3710	180	12	an	an	DET
fsr-3710	180	13	evenly	evenly	ADV
fsr-3710	180	14	distributed	distribute	VERB
fsr-3710	180	15	portfolio	portfolio	NOUN
fsr-3710	180	16	equivalency	equivalency	NOUN
fsr-3710	180	17	.	.	PUNCT
fsr-3710	181	1	although	although	SCONJ
fsr-3710	181	2	this	this	DET
fsr-3710	181	3	research	research	NOUN
fsr-3710	181	4	does	do	AUX
fsr-3710	181	5	not	not	PART
fsr-3710	181	6	provide	provide	VERB
fsr-3710	181	7	information	information	NOUN
fsr-3710	181	8	for	for	ADP
fsr-3710	181	9	the	the	DET
fsr-3710	181	10	important	important	ADJ
fsr-3710	181	11	question	question	NOUN
fsr-3710	181	12	of	of	ADP
fsr-3710	181	13	whether	whether	SCONJ
fsr-3710	181	14	a	a	DET
fsr-3710	181	15	portfolio	portfolio	NOUN
fsr-3710	181	16	lies	lie	VERB
fsr-3710	181	17	on	on	ADP
fsr-3710	181	18	the	the	DET
fsr-3710	181	19	efficient	efficient	ADJ
fsr-3710	181	20	frontier	frontier	NOUN
fsr-3710	181	21	,	,	PUNCT
fsr-3710	181	22	it	it	PRON
fsr-3710	181	23	does	do	AUX
fsr-3710	181	24	provide	provide	VERB
fsr-3710	181	25	information	information	NOUN
fsr-3710	181	26	important	important	ADJ
fsr-3710	181	27	to	to	ADP
fsr-3710	181	28	all	all	DET
fsr-3710	181	29	investors	investor	NOUN
fsr-3710	181	30	.	.	PUNCT
fsr-3710	182	1	there	there	PRON
fsr-3710	182	2	are	be	VERB
fsr-3710	182	3	obvious	obvious	ADJ
fsr-3710	182	4	deficiencies	deficiency	NOUN
fsr-3710	182	5	to	to	ADP
fsr-3710	182	6	the	the	DET
fsr-3710	182	7	index	index	NOUN
fsr-3710	182	8	as	as	SCONJ
fsr-3710	182	9	proposed	propose	VERB
fsr-3710	182	10	.	.	PUNCT
fsr-3710	183	1	the	the	DET
fsr-3710	183	2	index	index	NOUN
fsr-3710	183	3	and	and	CCONJ
fsr-3710	183	4	standards	standard	NOUN
fsr-3710	183	5	presented	present	VERB
fsr-3710	183	6	herein	herein	NOUN
fsr-3710	183	7	are	be	AUX
fsr-3710	183	8	for	for	ADP
fsr-3710	183	9	portfolios	portfolio	NOUN
fsr-3710	183	10	consisting	consist	VERB
fsr-3710	183	11	entirely	entirely	ADV
fsr-3710	183	12	of	of	ADP
fsr-3710	183	13	common	common	ADJ
fsr-3710	183	14	stock	stock	NOUN
fsr-3710	183	15	.	.	PUNCT
fsr-3710	184	1	future	future	ADJ
fsr-3710	184	2	work	work	NOUN
fsr-3710	184	3	will	will	AUX
fsr-3710	184	4	need	need	VERB
fsr-3710	184	5	to	to	PART
fsr-3710	184	6	focus	focus	VERB
fsr-3710	184	7	on	on	ADP
fsr-3710	184	8	the	the	DET
fsr-3710	184	9	impact	impact	NOUN
fsr-3710	184	10	of	of	ADP
fsr-3710	184	11	such	such	ADJ
fsr-3710	184	12	non	non	ADJ
fsr-3710	184	13	-	-	ADJ
fsr-3710	184	14	stock	stock	ADJ
fsr-3710	184	15	holdings	holding	NOUN
fsr-3710	184	16	as	as	ADP
fsr-3710	184	17	options	option	NOUN
fsr-3710	184	18	,	,	PUNCT
fsr-3710	184	19	futures	future	NOUN
fsr-3710	184	20	contracts	contract	NOUN
fsr-3710	184	21	,	,	PUNCT
fsr-3710	184	22	bonds	bond	NOUN
fsr-3710	184	23	,	,	PUNCT
fsr-3710	184	24	treasury	treasury	PROPN
fsr-3710	184	25	securities	security	NOUN
fsr-3710	184	26	,	,	PUNCT
fsr-3710	184	27	money	money	NOUN
fsr-3710	184	28	market	market	NOUN
fsr-3710	184	29	instruments	instrument	NOUN
fsr-3710	184	30	,	,	PUNCT
fsr-3710	184	31	and	and	CCONJ
fsr-3710	184	32	vari	vari	ADJ
fsr-3710	184	33	ous	ous	ADJ
fsr-3710	184	34	types	type	NOUN
fsr-3710	184	35	of	of	ADP
fsr-3710	184	36	mutual	mutual	ADJ
fsr-3710	184	37	funds	fund	NOUN
fsr-3710	184	38	.	.	PUNCT
fsr-3710	185	1	in	in	ADP
fsr-3710	185	2	addition	addition	NOUN
fsr-3710	185	3	,	,	PUNCT
fsr-3710	185	4	the	the	DET
fsr-3710	185	5	impact	impact	NOUN
fsr-3710	185	6	of	of	ADP
fsr-3710	185	7	buying	buy	VERB
fsr-3710	185	8	on	on	ADP
fsr-3710	185	9	margin	margin	NOUN
fsr-3710	185	10	will	will	AUX
fsr-3710	185	11	also	also	ADV
fsr-3710	185	12	have	have	VERB
fsr-3710	185	13	to	to	PART
fsr-3710	185	14	be	be	AUX
fsr-3710	185	15	considered	consider	VERB
fsr-3710	185	16	.	.	PUNCT
fsr-3710	186	1	nonetheless	nonetheless	ADV
fsr-3710	186	2	,	,	PUNCT
fsr-3710	186	3	we	we	PRON
fsr-3710	186	4	think	think	VERB
fsr-3710	186	5	the	the	DET
fsr-3710	186	6	index	index	NOUN
fsr-3710	186	7	proposed	propose	VERB
fsr-3710	186	8	here	here	ADV
fsr-3710	186	9	is	be	AUX
fsr-3710	186	10	a	a	DET
fsr-3710	186	11	good	good	ADJ
fsr-3710	186	12	first	first	ADJ
fsr-3710	186	13	step	step	NOUN
fsr-3710	186	14	to	to	ADP
fsr-3710	186	15	providing	provide	VERB
fsr-3710	186	16	a	a	DET
fsr-3710	186	17	critical	critical	ADJ
fsr-3710	186	18	tool	tool	NOUN
fsr-3710	186	19	for	for	ADP
fsr-3710	186	20	investors	investor	NOUN
fsr-3710	186	21	,	,	PUNCT
fsr-3710	186	22	but	but	CCONJ
fsr-3710	186	23	we	we	PRON
fsr-3710	186	24	acknowledge	acknowledge	VERB
fsr-3710	186	25	many	many	ADJ
fsr-3710	186	26	more	more	ADJ
fsr-3710	186	27	steps	step	NOUN
fsr-3710	186	28	are	be	AUX
fsr-3710	186	29	necessary	necessary	ADJ
fsr-3710	186	30	for	for	ADP
fsr-3710	186	31	practical	practical	ADJ
fsr-3710	186	32	application	application	NOUN
fsr-3710	186	33	.	.	PUNCT
fsr-3710	187	1	acknowledgments	acknowledgment	NOUN
fsr-3710	187	2	:	:	PUNCT
fsr-3710	187	3	the	the	DET
fsr-3710	187	4	authors	author	NOUN
fsr-3710	187	5	wish	wish	VERB
fsr-3710	187	6	to	to	PART
fsr-3710	187	7	acknowledge	acknowledge	VERB
fsr-3710	187	8	the	the	DET
fsr-3710	187	9	helpful	helpful	ADJ
fsr-3710	187	10	sugges	sugge	NOUN
fsr-3710	187	11	tions	tion	NOUN
fsr-3710	187	12	of	of	ADP
fsr-3710	187	13	david	david	PROPN
fsr-3710	187	14	bumie	bumie	PROPN
fsr-3710	187	15	,	,	PUNCT
fsr-3710	187	16	and	and	CCONJ
fsr-3710	187	17	the	the	DET
fsr-3710	187	18	business	business	NOUN
fsr-3710	187	19	faculty	faculty	NOUN
fsr-3710	187	20	at	at	ADP
fsr-3710	187	21	the	the	DET
fsr-3710	187	22	university	university	PROPN
fsr-3710	187	23	of	of	ADP
fsr-3710	187	24	michigan	michigan	PROPN
fsr-3710	187	25	flint	flint	PROPN
fsr-3710	187	26	,	,	PUNCT
fsr-3710	187	27	on	on	ADP
fsr-3710	187	28	an	an	DET
fsr-3710	187	29	earlier	early	ADJ
fsr-3710	187	30	draft	draft	NOUN
fsr-3710	187	31	,	,	PUNCT
fsr-3710	187	32	as	as	ADV
fsr-3710	187	33	well	well	ADV
fsr-3710	187	34	as	as	ADP
fsr-3710	187	35	the	the	DET
fsr-3710	187	36	suggestions	suggestion	NOUN
fsr-3710	187	37	of	of	ADP
fsr-3710	187	38	an	an	DET
fsr-3710	187	39	“	"	PUNCT
fsr-3710	187	40	anonymous	anonymous	ADJ
fsr-3710	187	41	”	"	PUNCT
fsr-3710	187	42	referee	referee	NOUN
fsr-3710	187	43	for	for	ADP
fsr-3710	187	44	this	this	DET
fsr-3710	187	45	journal	journal	NOUN
fsr-3710	187	46	.	.	PUNCT
fsr-3710	188	1	84	84	NUM
fsr-3710	188	2	financial	financial	ADJ
fsr-3710	188	3	services	service	NOUN
fsr-3710	188	4	review	review	NOUN
fsr-3710	188	5	,	,	PUNCT
fsr-3710	188	6	2(2	2(2	NUM
fsr-3710	188	7	)	)	PUNCT
fsr-3710	188	8	1993	1993	NUM
fsr-3710	188	9	notes	note	VERB
fsr-3710	188	10	1	1	NUM
fsr-3710	188	11	.	.	PUNCT
fsr-3710	189	1	for	for	ADP
fsr-3710	189	2	an	an	DET
fsr-3710	189	3	excellent	excellent	ADJ
fsr-3710	189	4	review	review	NOUN
fsr-3710	189	5	some	some	PRON
fsr-3710	189	6	of	of	ADP
fsr-3710	189	7	the	the	DET
fsr-3710	189	8	literature	literature	NOUN
fsr-3710	189	9	on	on	ADP
fsr-3710	189	10	diversification	diversification	NOUN
fsr-3710	189	11	,	,	PUNCT
fsr-3710	189	12	the	the	DET
fsr-3710	189	13	reader	reader	NOUN
fsr-3710	189	14	is	be	AUX
fsr-3710	189	15	referred	refer	VERB
fsr-3710	189	16	to	to	ADP
fsr-3710	189	17	alexander	alexander	PROPN
fsr-3710	189	18	and	and	CCONJ
fsr-3710	189	19	francis	francis	PROPN
fsr-3710	189	20	(	(	PUNCT
fsr-3710	189	21	1986	1986	NUM
fsr-3710	189	22	)	)	PUNCT
fsr-3710	189	23	,	,	PUNCT
fsr-3710	190	1	pp	pp	ADP
fsr-3710	190	2	.	.	PUNCT
fsr-3710	191	1	193	193	NUM
fsr-3710	191	2	-	-	SYM
fsr-3710	191	3	202	202	NUM
fsr-3710	191	4	.	.	NOUN
fsr-3710	192	1	2	2	NUM
fsr-3710	192	2	.	.	NOUN
fsr-3710	192	3	3	3	NUM
fsr-3710	192	4	.	.	NOUN
fsr-3710	192	5	4	4	NUM
fsr-3710	192	6	.	.	NOUN
fsr-3710	192	7	5	5	NUM
fsr-3710	192	8	.	.	NOUN
fsr-3710	192	9	6	6	NUM
fsr-3710	192	10	.	.	NOUN
fsr-3710	192	11	7	7	NUM
fsr-3710	192	12	.	.	NOUN
fsr-3710	192	13	8	8	NUM
fsr-3710	192	14	.	.	NOUN
fsr-3710	192	15	9	9	NUM
fsr-3710	192	16	.	.	NOUN
fsr-3710	192	17	10	10	NUM
fsr-3710	192	18	.	.	X
fsr-3710	193	1	11	11	NUM
fsr-3710	193	2	.	.	X
fsr-3710	194	1	12	12	NUM
fsr-3710	194	2	.	.	X
fsr-3710	195	1	13	13	NUM
fsr-3710	195	2	.	.	PUNCT
fsr-3710	196	1	related	relate	VERB
fsr-3710	196	2	to	to	ADP
fsr-3710	196	3	concentration	concentration	NOUN
fsr-3710	196	4	ratios	ratio	NOUN
fsr-3710	196	5	are	be	AUX
fsr-3710	196	6	inequality	inequality	NOUN
fsr-3710	196	7	measures	measure	NOUN
fsr-3710	196	8	.	.	PUNCT
fsr-3710	197	1	we	we	PRON
fsr-3710	197	2	considered	consider	VERB
fsr-3710	197	3	measures	measure	NOUN
fsr-3710	197	4	of	of	ADP
fsr-3710	197	5	inequality	inequality	NOUN
fsr-3710	197	6	such	such	ADJ
fsr-3710	197	7	as	as	ADP
fsr-3710	197	8	the	the	DET
fsr-3710	197	9	lorenz	lorenz	PROPN
fsr-3710	197	10	-	-	PUNCT
fsr-3710	197	11	curve	curve	NOUN
fsr-3710	197	12	-	-	PUNCT
fsr-3710	197	13	based	base	VERB
fsr-3710	197	14	gini	gini	PROPN
fsr-3710	197	15	index	index	NOUN
fsr-3710	197	16	,	,	PUNCT
fsr-3710	197	17	but	but	CCONJ
fsr-3710	197	18	found	find	VERB
fsr-3710	197	19	them	they	PRON
fsr-3710	197	20	to	to	PART
fsr-3710	197	21	be	be	AUX
fsr-3710	197	22	internally	internally	ADV
fsr-3710	197	23	inconsistent	inconsistent	ADJ
fsr-3710	197	24	for	for	ADP
fsr-3710	197	25	our	our	PRON
fsr-3710	197	26	purposes	purpose	NOUN
fsr-3710	197	27	and	and	CCONJ
fsr-3710	197	28	therefore	therefore	ADV
fsr-3710	197	29	do	do	AUX
fsr-3710	197	30	not	not	PART
fsr-3710	197	31	include	include	VERB
fsr-3710	197	32	them	they	PRON
fsr-3710	197	33	here	here	ADV
fsr-3710	197	34	.	.	PUNCT
fsr-3710	198	1	see	see	VERB
fsr-3710	198	2	,	,	PUNCT
fsr-3710	198	3	e.g.	e.g.	ADV
fsr-3710	198	4	,	,	PUNCT
fsr-3710	198	5	polakoff	polakoff	INTJ
fsr-3710	198	6	,	,	PUNCT
fsr-3710	198	7	et	et	PROPN
fsr-3710	198	8	al	al	PROPN
fsr-3710	198	9	.	.	PROPN
fsr-3710	198	10	,	,	PUNCT
fsr-3710	198	11	(	(	PUNCT
fsr-3710	198	12	1981	1981	NUM
fsr-3710	198	13	,	,	PUNCT
fsr-3710	198	14	p.	p.	NOUN
fsr-3710	198	15	684	684	NUM
fsr-3710	198	16	)	)	PUNCT
fsr-3710	198	17	;	;	PUNCT
fsr-3710	198	18	or	or	CCONJ
fsr-3710	198	19	lovett	lovett	PROPN
fsr-3710	198	20	,	,	PUNCT
fsr-3710	198	21	(	(	PUNCT
fsr-3710	198	22	1988	1988	NUM
fsr-3710	198	23	,	,	PUNCT
fsr-3710	198	24	pp	pp	ADV
fsr-3710	198	25	.	.	PUNCT
fsr-3710	199	1	197	197	NUM
fsr-3710	199	2	-	-	SYM
fsr-3710	199	3	202	202	NUM
fsr-3710	199	4	)	)	PUNCT
fsr-3710	199	5	.	.	PUNCT
fsr-3710	200	1	the	the	DET
fsr-3710	200	2	use	use	NOUN
fsr-3710	200	3	of	of	ADP
fsr-3710	200	4	the	the	DET
fsr-3710	200	5	complement	complement	NOUN
fsr-3710	200	6	to	to	PART
fsr-3710	200	7	distinguish	distinguish	VERB
fsr-3710	200	8	diversification	diversification	NOUN
fsr-3710	200	9	indices	index	NOUN
fsr-3710	200	10	from	from	ADP
fsr-3710	200	11	concentration	concentration	NOUN
fsr-3710	200	12	indices	index	NOUN
fsr-3710	200	13	is	be	AUX
fsr-3710	200	14	common	common	ADJ
fsr-3710	200	15	in	in	ADP
fsr-3710	200	16	the	the	DET
fsr-3710	200	17	industrial	industrial	ADJ
fsr-3710	200	18	organization	organization	NOUN
fsr-3710	200	19	literature	literature	NOUN
fsr-3710	200	20	.	.	PUNCT
fsr-3710	201	1	see	see	VERB
fsr-3710	201	2	acar	acar	NOUN
fsr-3710	201	3	,	,	PUNCT
fsr-3710	201	4	et	et	NOUN
fsr-3710	201	5	al.(unpublished	al.(unpublishe	VERB
fsr-3710	201	6	)	)	PUNCT
fsr-3710	201	7	.	.	PUNCT
fsr-3710	202	1	hart	hart	PROPN
fsr-3710	202	2	(	(	PUNCT
fsr-3710	202	3	1971	1971	NUM
fsr-3710	202	4	,	,	PUNCT
fsr-3710	202	5	p.	p.	NOUN
fsr-3710	202	6	77	77	NUM
fsr-3710	202	7	)	)	PUNCT
fsr-3710	202	8	shows	show	VERB
fsr-3710	202	9	that	that	SCONJ
fsr-3710	202	10	the	the	DET
fsr-3710	202	11	rosenbluth	rosenbluth	ADJ
fsr-3710	202	12	index	index	NOUN
fsr-3710	202	13	is	be	AUX
fsr-3710	202	14	a	a	DET
fsr-3710	202	15	modified	modify	VERB
fsr-3710	202	16	version	version	NOUN
fsr-3710	202	17	of	of	ADP
fsr-3710	202	18	the	the	DET
fsr-3710	202	19	gini	gini	PROPN
fsr-3710	202	20	coefficient	coefficient	PROPN
fsr-3710	202	21	.	.	PUNCT
fsr-3710	203	1	hall	hall	NOUN
fsr-3710	203	2	and	and	CCONJ
fsr-3710	203	3	tideman	tideman	NOUN
fsr-3710	203	4	(	(	PUNCT
fsr-3710	203	5	1967	1967	NUM
fsr-3710	203	6	)	)	PUNCT
fsr-3710	203	7	have	have	AUX
fsr-3710	203	8	also	also	ADV
fsr-3710	203	9	proposed	propose	VERB
fsr-3710	203	10	the	the	DET
fsr-3710	203	11	same	same	ADJ
fsr-3710	203	12	measure	measure	NOUN
fsr-3710	203	13	as	as	ADP
fsr-3710	203	14	rosenbluth	rosenbluth	ADV
fsr-3710	203	15	.	.	PUNCT
fsr-3710	204	1	the	the	DET
fsr-3710	204	2	decision	decision	NOUN
fsr-3710	204	3	to	to	PART
fsr-3710	204	4	use	use	VERB
fsr-3710	204	5	a	a	DET
fsr-3710	204	6	maximum	maximum	ADJ
fsr-3710	204	7	portfolio	portfolio	NOUN
fsr-3710	204	8	size	size	NOUN
fsr-3710	204	9	of	of	ADP
fsr-3710	204	10	30	30	NUM
fsr-3710	204	11	securities	security	NOUN
fsr-3710	204	12	is	be	AUX
fsr-3710	204	13	somewhat	somewhat	ADV
fsr-3710	204	14	arbitrary	arbitrary	ADJ
fsr-3710	204	15	.	.	PUNCT
fsr-3710	205	1	our	our	PRON
fsr-3710	205	2	early	early	ADJ
fsr-3710	205	3	work	work	NOUN
fsr-3710	205	4	on	on	ADP
fsr-3710	205	5	this	this	DET
fsr-3710	205	6	paper	paper	NOUN
fsr-3710	205	7	used	use	VERB
fsr-3710	205	8	a	a	DET
fsr-3710	205	9	maximum	maximum	ADJ
fsr-3710	205	10	portfolio	portfolio	NOUN
fsr-3710	205	11	size	size	NOUN
fsr-3710	205	12	of	of	ADP
fsr-3710	205	13	40	40	NUM
fsr-3710	205	14	securities	security	NOUN
fsr-3710	205	15	.	.	PUNCT
fsr-3710	206	1	the	the	DET
fsr-3710	206	2	10	10	NUM
fsr-3710	206	3	additional	additional	ADJ
fsr-3710	206	4	securities	security	NOUN
fsr-3710	206	5	added	add	VERB
fsr-3710	206	6	at	at	ADP
fsr-3710	206	7	least	least	ADJ
fsr-3710	206	8	a	a	PRON
fsr-3710	206	9	day	day	NOUN
fsr-3710	206	10	to	to	ADP
fsr-3710	206	11	the	the	DET
fsr-3710	206	12	time	time	NOUN
fsr-3710	206	13	it	it	PRON
fsr-3710	206	14	took	take	VERB
fsr-3710	206	15	our	our	PRON
fsr-3710	206	16	computer	computer	NOUN
fsr-3710	206	17	program	program	NOUN
fsr-3710	206	18	to	to	PART
fsr-3710	206	19	run	run	VERB
fsr-3710	206	20	.	.	PUNCT
fsr-3710	207	1	more	more	ADV
fsr-3710	207	2	importantly	importantly	ADV
fsr-3710	207	3	,	,	PUNCT
fsr-3710	207	4	the	the	DET
fsr-3710	207	5	10	10	NUM
fsr-3710	207	6	additional	additional	ADJ
fsr-3710	207	7	portfolios	portfolio	NOUN
fsr-3710	207	8	had	have	VERB
fsr-3710	207	9	the	the	DET
fsr-3710	207	10	effect	effect	NOUN
fsr-3710	207	11	of	of	ADP
fsr-3710	207	12	making	make	VERB
fsr-3710	207	13	the	the	DET
fsr-3710	207	14	empirical	empirical	ADJ
fsr-3710	207	15	tests	test	NOUN
fsr-3710	207	16	of	of	ADP
fsr-3710	207	17	our	our	PRON
fsr-3710	207	18	results	result	NOUN
fsr-3710	207	19	appear	appear	VERB
fsr-3710	207	20	stronger	strong	ADJ
fsr-3710	207	21	than	than	SCONJ
fsr-3710	207	22	they	they	PRON
fsr-3710	207	23	really	really	ADV
fsr-3710	207	24	were	be	AUX
fsr-3710	207	25	because	because	SCONJ
fsr-3710	207	26	our	our	PRON
fsr-3710	207	27	indices	index	NOUN
fsr-3710	207	28	clearly	clearly	ADV
fsr-3710	207	29	indicate	indicate	VERB
fsr-3710	207	30	there	there	PRON
fsr-3710	207	31	is	be	VERB
fsr-3710	207	32	no	no	DET
fsr-3710	207	33	significant	significant	ADJ
fsr-3710	207	34	difference	difference	NOUN
fsr-3710	207	35	in	in	ADP
fsr-3710	207	36	the	the	DET
fsr-3710	207	37	diversification	diversification	NOUN
fsr-3710	207	38	of	of	ADP
fsr-3710	207	39	30and	30and	NOUN
fsr-3710	207	40	40	40	NUM
fsr-3710	207	41	-	-	PUNCT
fsr-3710	207	42	security	security	NOUN
fsr-3710	207	43	portfolios	portfolio	NOUN
fsr-3710	207	44	.	.	PUNCT
fsr-3710	208	1	at	at	ADP
fsr-3710	208	2	the	the	DET
fsr-3710	208	3	time	time	NOUN
fsr-3710	208	4	the	the	DET
fsr-3710	208	5	data	datum	NOUN
fsr-3710	208	6	was	be	AUX
fsr-3710	208	7	collected	collect	VERB
fsr-3710	208	8	for	for	ADP
fsr-3710	208	9	this	this	DET
fsr-3710	208	10	research	research	NOUN
fsr-3710	208	11	,	,	PUNCT
fsr-3710	208	12	more	more	ADV
fsr-3710	208	13	recent	recent	ADJ
fsr-3710	208	14	tapes	tape	NOUN
fsr-3710	208	15	were	be	AUX
fsr-3710	208	16	available	available	ADJ
fsr-3710	208	17	but	but	CCONJ
fsr-3710	208	18	they	they	PRON
fsr-3710	208	19	included	include	VERB
fsr-3710	208	20	the	the	DET
fsr-3710	208	21	year	year	NOUN
fsr-3710	208	22	1987	1987	NUM
fsr-3710	208	23	.	.	PUNCT
fsr-3710	209	1	we	we	PRON
fsr-3710	209	2	wanted	want	VERB
fsr-3710	209	3	to	to	PART
fsr-3710	209	4	avoid	avoid	VERB
fsr-3710	209	5	any	any	DET
fsr-3710	209	6	potential	potential	ADJ
fsr-3710	209	7	problems	problem	NOUN
fsr-3710	209	8	associated	associate	VERB
fsr-3710	209	9	with	with	ADP
fsr-3710	209	10	the	the	DET
fsr-3710	209	11	dramatic	dramatic	ADJ
fsr-3710	209	12	market	market	NOUN
fsr-3710	209	13	movements	movement	NOUN
fsr-3710	209	14	of	of	ADP
fsr-3710	209	15	that	that	DET
fsr-3710	209	16	year	year	NOUN
fsr-3710	209	17	.	.	PUNCT
fsr-3710	210	1	although	although	SCONJ
fsr-3710	210	2	we	we	PRON
fsr-3710	210	3	believe	believe	VERB
fsr-3710	210	4	our	our	PRON
fsr-3710	210	5	results	result	NOUN
fsr-3710	210	6	are	be	AUX
fsr-3710	210	7	independent	independent	ADJ
fsr-3710	210	8	of	of	ADP
fsr-3710	210	9	the	the	DET
fsr-3710	210	10	time	time	NOUN
fsr-3710	210	11	period	period	NOUN
fsr-3710	210	12	used	use	VERB
fsr-3710	210	13	,	,	PUNCT
fsr-3710	210	14	we	we	PRON
fsr-3710	210	15	are	be	AUX
fsr-3710	210	16	doing	do	VERB
fsr-3710	210	17	follow	follow	VERB
fsr-3710	210	18	-	-	PUNCT
fsr-3710	210	19	up	up	ADP
fsr-3710	210	20	tests	test	NOUN
fsr-3710	210	21	with	with	ADP
fsr-3710	210	22	a	a	DET
fsr-3710	210	23	later	later	ADJ
fsr-3710	210	24	time	time	NOUN
fsr-3710	210	25	period	period	NOUN
fsr-3710	210	26	.	.	PUNCT
fsr-3710	211	1	this	this	DET
fsr-3710	211	2	method	method	NOUN
fsr-3710	211	3	of	of	ADP
fsr-3710	211	4	selection	selection	NOUN
fsr-3710	211	5	obviously	obviously	ADV
fsr-3710	211	6	creates	create	VERB
fsr-3710	211	7	a	a	DET
fsr-3710	211	8	survivorship	survivorship	NOUN
fsr-3710	211	9	bias	bias	NOUN
fsr-3710	211	10	.	.	PUNCT
fsr-3710	212	1	as	as	SCONJ
fsr-3710	212	2	we	we	PRON
fsr-3710	212	3	are	be	AUX
fsr-3710	212	4	not	not	PART
fsr-3710	212	5	aware	aware	ADJ
fsr-3710	212	6	of	of	ADP
fsr-3710	212	7	any	any	DET
fsr-3710	212	8	evidence	evidence	NOUN
fsr-3710	212	9	that	that	SCONJ
fsr-3710	212	10	nonsurvivor	nonsurvivor	NOUN
fsr-3710	212	11	firms	firm	NOUN
fsr-3710	212	12	have	have	AUX
fsr-3710	212	13	variances	variance	NOUN
fsr-3710	212	14	and	and	CCONJ
fsr-3710	212	15	covariances	covariance	NOUN
fsr-3710	212	16	different	different	ADJ
fsr-3710	212	17	from	from	ADP
fsr-3710	212	18	survivor	survivor	NOUN
fsr-3710	212	19	firms	firm	NOUN
fsr-3710	212	20	,	,	PUNCT
fsr-3710	212	21	it	it	PRON
fsr-3710	212	22	is	be	AUX
fsr-3710	212	23	not	not	PART
fsr-3710	212	24	felt	feel	VERB
fsr-3710	212	25	that	that	SCONJ
fsr-3710	212	26	this	this	DET
fsr-3710	212	27	bias	bias	NOUN
fsr-3710	212	28	is	be	AUX
fsr-3710	212	29	of	of	ADP
fsr-3710	212	30	any	any	DET
fsr-3710	212	31	significance	significance	NOUN
fsr-3710	212	32	.	.	PUNCT
fsr-3710	213	1	these	these	DET
fsr-3710	213	2	formulas	formula	NOUN
fsr-3710	213	3	are	be	AUX
fsr-3710	213	4	the	the	DET
fsr-3710	213	5	same	same	ADJ
fsr-3710	213	6	as	as	ADP
fsr-3710	213	7	those	those	PRON
fsr-3710	213	8	used	use	VERB
fsr-3710	213	9	by	by	ADP
fsr-3710	213	10	e&a	e&a	PROPN
fsr-3710	213	11	except	except	SCONJ
fsr-3710	213	12	that	that	SCONJ
fsr-3710	213	13	we	we	PRON
fsr-3710	213	14	have	have	AUX
fsr-3710	213	15	adjusted	adjust	VERB
fsr-3710	213	16	them	they	PRON
fsr-3710	213	17	to	to	PART
fsr-3710	213	18	allow	allow	VERB
fsr-3710	213	19	for	for	ADP
fsr-3710	213	20	unequal	unequal	ADJ
fsr-3710	213	21	weights	weight	NOUN
fsr-3710	213	22	.	.	PUNCT
fsr-3710	214	1	e&a	e&a	PROPN
fsr-3710	214	2	also	also	ADV
fsr-3710	214	3	implicitly	implicitly	ADV
fsr-3710	214	4	reweight	reweight	VERB
fsr-3710	214	5	their	their	PRON
fsr-3710	214	6	portfolios	portfolio	NOUN
fsr-3710	214	7	each	each	DET
fsr-3710	214	8	month	month	NOUN
fsr-3710	214	9	to	to	ADP
fsr-3710	214	10	the	the	DET
fsr-3710	214	11	original	original	ADJ
fsr-3710	214	12	(	(	PUNCT
fsr-3710	214	13	even	even	ADV
fsr-3710	214	14	)	)	PUNCT
fsr-3710	214	15	distribution	distribution	NOUN
fsr-3710	214	16	.	.	PUNCT
fsr-3710	215	1	to	to	PART
fsr-3710	215	2	generate	generate	VERB
fsr-3710	215	3	the	the	DET
fsr-3710	215	4	random	random	ADJ
fsr-3710	215	5	numbers	number	NOUN
fsr-3710	215	6	,	,	PUNCT
fsr-3710	215	7	we	we	PRON
fsr-3710	215	8	used	use	VERB
fsr-3710	215	9	the	the	DET
fsr-3710	215	10	randomize	randomize	NOUN
fsr-3710	215	11	command	command	NOUN
fsr-3710	215	12	in	in	ADP
fsr-3710	215	13	basica	basica	PROPN
fsr-3710	215	14	.	.	PUNCT
fsr-3710	216	1	the	the	DET
fsr-3710	216	2	seed	seed	NOUN
fsr-3710	216	3	number	number	NOUN
fsr-3710	216	4	was	be	AUX
fsr-3710	216	5	one	one	NUM
fsr-3710	216	6	for	for	ADP
fsr-3710	216	7	the	the	DET
fsr-3710	216	8	first	first	ADJ
fsr-3710	216	9	portfolio	portfolio	NOUN
fsr-3710	216	10	,	,	PUNCT
fsr-3710	216	11	and	and	CCONJ
fsr-3710	216	12	was	be	AUX
fsr-3710	216	13	augmented	augment	VERB
fsr-3710	216	14	by	by	ADP
fsr-3710	216	15	one	one	NUM
fsr-3710	216	16	for	for	ADP
fsr-3710	216	17	each	each	DET
fsr-3710	216	18	successive	successive	ADJ
fsr-3710	216	19	set	set	NOUN
fsr-3710	216	20	of	of	ADP
fsr-3710	216	21	weights	weight	NOUN
fsr-3710	216	22	computed	compute	VERB
fsr-3710	216	23	.	.	PUNCT
fsr-3710	217	1	at	at	ADP
fsr-3710	217	2	the	the	DET
fsr-3710	217	3	suggestion	suggestion	NOUN
fsr-3710	217	4	of	of	ADP
fsr-3710	217	5	an	an	DET
fsr-3710	217	6	earlier	early	ADJ
fsr-3710	217	7	referee	referee	NOUN
fsr-3710	217	8	,	,	PUNCT
fsr-3710	217	9	we	we	PRON
fsr-3710	217	10	twice	twice	ADV
fsr-3710	217	11	reran	rerun	VERB
fsr-3710	217	12	the	the	DET
fsr-3710	217	13	last	last	ADJ
fsr-3710	217	14	five	five	NUM
fsr-3710	217	15	regressions	regression	NOUN
fsr-3710	217	16	.	.	PUNCT
fsr-3710	218	1	first	first	ADV
fsr-3710	218	2	we	we	PRON
fsr-3710	218	3	added	add	VERB
fsr-3710	218	4	as	as	ADP
fsr-3710	218	5	a	a	DET
fsr-3710	218	6	second	second	ADJ
fsr-3710	218	7	independent	independent	ADJ
fsr-3710	218	8	variable	variable	NOUN
fsr-3710	218	9	the	the	DET
fsr-3710	218	10	number	number	NOUN
fsr-3710	218	11	of	of	ADP
fsr-3710	218	12	securities	security	NOUN
fsr-3710	218	13	in	in	ADP
fsr-3710	218	14	each	each	DET
fsr-3710	218	15	the	the	DET
fsr-3710	218	16	inverse	inverse	NOUN
fsr-3710	218	17	of	of	ADP
fsr-3710	218	18	the	the	DET
fsr-3710	218	19	number	number	NOUN
fsr-3710	218	20	of	of	ADP
fsr-3710	218	21	securities	security	NOUN
fsr-3710	218	22	.	.	PUNCT
fsr-3710	219	1	the	the	DET
fsr-3710	219	2	change	change	NOUN
fsr-3710	219	3	in	in	ADP
fsr-3710	219	4	adjusted	adjusted	ADJ
fsr-3710	219	5	r	r	NOUN
fsr-3710	219	6	?	?	PUNCT
fsr-3710	220	1	ortfolio	ortfolio	NOUN
fsr-3710	220	2	,	,	PUNCT
fsr-3710	220	3	and	and	CCONJ
fsr-3710	220	4	then	then	ADV
fsr-3710	220	5	we	we	PRON
fsr-3710	220	6	added	add	VERB
fsr-3710	220	7	‘s	‘s	PRON
fsr-3710	220	8	was	be	AUX
fsr-3710	220	9	negligible	negligible	ADJ
fsr-3710	220	10	.	.	PUNCT
fsr-3710	221	1	specifically	specifically	ADV
fsr-3710	221	2	,	,	PUNCT
fsr-3710	221	3	let	let	VERB
fsr-3710	221	4	4.96	4.96	NUM
fsr-3710	221	5	=	=	SYM
fsr-3710	221	6	9.88	9.88	NUM
fsr-3710	221	7	-5.76	-5.76	NUM
fsr-3710	221	8	*	*	PUNCT
fsr-3710	221	9	di(l	di(l	PROPN
fsr-3710	221	10	)	)	PUNCT
fsr-3710	221	11	,	,	PUNCT
fsr-3710	221	12	then	then	ADV
fsr-3710	221	13	di(l	di(l	X
fsr-3710	221	14	)	)	PUNCT
fsr-3710	221	15	=	=	SYM
fsr-3710	222	1	.85	.85	NUM
fsr-3710	222	2	.	.	PUNCT
fsr-3710	223	1	also	also	ADV
fsr-3710	223	2	,	,	PUNCT
fsr-3710	223	3	let	let	VERB
fsr-3710	223	4	4.60=	4.60=	PRON
fsr-3710	223	5	9.88	9.88	NUM
fsr-3710	223	6	5.76	5.76	NUM
fsr-3710	223	7	*	*	PUNCT
fsr-3710	223	8	di(l	di(l	PROPN
fsr-3710	223	9	)	)	PUNCT
fsr-3710	223	10	,	,	PUNCT
fsr-3710	223	11	then	then	ADV
fsr-3710	223	12	di(i	di(i	PUNCT
fsr-3710	223	13	)	)	PUNCT
fsr-3710	223	14	=	=	SYM
fsr-3710	224	1	.91	.91	NUM
fsr-3710	224	2	.	.	PUNCT
fsr-3710	225	1	our	our	PRON
fsr-3710	225	2	thanks	thank	NOUN
fsr-3710	225	3	to	to	ADP
fsr-3710	225	4	lew	lew	PROPN
fsr-3710	225	5	mandell	mandell	PROPN
fsr-3710	225	6	for	for	ADP
fsr-3710	225	7	this	this	DET
fsr-3710	225	8	suggestion	suggestion	NOUN
fsr-3710	225	9	.	.	PUNCT
fsr-3710	226	1	references	reference	NOUN
fsr-3710	226	2	acar	acar	VERB
fsr-3710	226	3	,	,	PUNCT
fsr-3710	226	4	william	william	PROPN
fsr-3710	226	5	,	,	PUNCT
fsr-3710	226	6	pankaj	pankaj	PROPN
fsr-3710	226	7	bhatnagar	bhatnagar	PROPN
fsr-3710	226	8	,	,	PUNCT
fsr-3710	226	9	kizhekepat	kizhekepat	NOUN
fsr-3710	226	10	sankaran	sankaran	NOUN
fsr-3710	226	11	,	,	PUNCT
fsr-3710	226	12	and	and	CCONJ
fsr-3710	226	13	kenneth	kenneth	PROPN
fsr-3710	226	14	d.	d.	PROPN
fsr-3710	226	15	gartrell	gartrell	PROPN
fsr-3710	226	16	.	.	PUNCT
fsr-3710	227	1	“	"	PUNCT
fsr-3710	227	2	calibrating	calibrate	VERB
fsr-3710	227	3	measures	measure	NOUN
fsr-3710	227	4	of	of	ADP
fsr-3710	227	5	concentration	concentration	NOUN
fsr-3710	227	6	and	and	CCONJ
fsr-3710	227	7	diversification	diversification	NOUN
fsr-3710	227	8	for	for	ADP
fsr-3710	227	9	the	the	DET
fsr-3710	227	10	‘	'	PUNCT
fsr-3710	227	11	distribution	distribution	NOUN
fsr-3710	227	12	effect	effect	NOUN
fsr-3710	227	13	’	'	PUNCT
fsr-3710	227	14	.	.	PUNCT
fsr-3710	227	15	”	"	PUNCT
fsr-3710	228	1	unpublished	unpublished	ADJ
fsr-3710	228	2	.	.	PUNCT
fsr-3710	229	1	alexander	alexander	PROPN
fsr-3710	229	2	,	,	PUNCT
fsr-3710	229	3	gordon	gordon	PROPN
fsr-3710	229	4	j.	j.	PROPN
fsr-3710	229	5	,	,	PUNCT
fsr-3710	229	6	jack	jack	PROPN
fsr-3710	229	7	clark	clark	PROPN
fsr-3710	229	8	francis	francis	PROPN
fsr-3710	229	9	.	.	PROPN
fsr-3710	229	10	1986	1986	NUM
fsr-3710	229	11	.	.	PUNCT
fsr-3710	230	1	portfolio	portfolio	NOUN
fsr-3710	230	2	analysis	analysis	NOUN
fsr-3710	230	3	,	,	PUNCT
fsr-3710	230	4	third	third	ADJ
fsr-3710	230	5	edition	edition	NOUN
fsr-3710	230	6	,	,	PUNCT
fsr-3710	230	7	prentice	prentice	NOUN
fsr-3710	230	8	-	-	PUNCT
fsr-3710	230	9	hall	hall	NOUN
fsr-3710	230	10	.	.	PUNCT
fsr-3710	231	1	conine	conine	NOUN
fsr-3710	231	2	,	,	PUNCT
fsr-3710	231	3	t.	t.	PROPN
fsr-3710	231	4	e.	e.	PROPN
fsr-3710	231	5	,	,	PUNCT
fsr-3710	231	6	and	and	CCONJ
fsr-3710	231	7	m.	m.	NOUN
fsr-3710	231	8	j.	j.	PROPN
fsr-3710	231	9	tamarkin	tamarkin	PROPN
fsr-3710	231	10	.	.	PROPN
fsr-3710	232	1	198	198	NUM
fsr-3710	232	2	1	1	NUM
fsr-3710	232	3	.	.	PUNCT
fsr-3710	233	1	“	"	PUNCT
fsr-3710	233	2	on	on	ADP
fsr-3710	233	3	diversification	diversification	NOUN
fsr-3710	233	4	given	give	VERB
fsr-3710	233	5	asymmetry	asymmetry	NOUN
fsr-3710	233	6	in	in	ADP
fsr-3710	233	7	returns	return	NOUN
fsr-3710	233	8	,	,	PUNCT
fsr-3710	233	9	”	"	PUNCT
fsr-3710	233	10	joumuf	joumuf	NOUN
fsr-3710	233	11	of	of	ADP
fsr-3710	233	12	finance	finance	NOUN
fsr-3710	233	13	,	,	PUNCT
fsr-3710	233	14	36	36	NUM
fsr-3710	233	15	:	:	SYM
fsr-3710	233	16	1143	1143	NUM
fsr-3710	233	17	-	-	SYM
fsr-3710	233	18	l	l	NOUN
fsr-3710	233	19	155	155	NUM
fsr-3710	233	20	.	.	PUNCT
fsr-3710	234	1	evans	evans	PROPN
fsr-3710	234	2	,	,	PUNCT
fsr-3710	234	3	john	john	PROPN
fsr-3710	234	4	,	,	PUNCT
fsr-3710	234	5	and	and	CCONJ
fsr-3710	234	6	stephen	stephen	PROPN
fsr-3710	234	7	archer	archer	PROPN
fsr-3710	234	8	.	.	PUNCT
fsr-3710	235	1	1968	1968	NUM
fsr-3710	235	2	.	.	PUNCT
fsr-3710	236	1	“	"	PUNCT
fsr-3710	236	2	diversification	diversification	NOUN
fsr-3710	236	3	and	and	CCONJ
fsr-3710	236	4	the	the	DET
fsr-3710	236	5	reduction	reduction	NOUN
fsr-3710	236	6	of	of	ADP
fsr-3710	236	7	dispersion	dispersion	NOUN
fsr-3710	236	8	:	:	PUNCT
fsr-3710	236	9	an	an	DET
fsr-3710	236	10	empirical	empirical	ADJ
fsr-3710	236	11	analysis	analysis	NOUN
fsr-3710	236	12	,	,	PUNCT
fsr-3710	236	13	”	"	PUNCT
fsr-3710	236	14	journal	journal	NOUN
fsr-3710	236	15	of	of	ADP
fsr-3710	236	16	finance	finance	NOUN
fsr-3710	236	17	,	,	PUNCT
fsr-3710	236	18	xxiv	xxiv	NUM
fsr-3710	236	19	:	:	PUNCT
fsr-3710	236	20	761	761	NUM
fsr-3710	236	21	-	-	SYM
fsr-3710	236	22	769	769	NUM
fsr-3710	236	23	.	.	PUNCT
fsr-3710	236	24	fisher	fisher	PROPN
fsr-3710	236	25	,	,	PUNCT
fsr-3710	236	26	lawrence	lawrence	PROPN
fsr-3710	236	27	,	,	PUNCT
fsr-3710	236	28	and	and	CCONJ
fsr-3710	236	29	james	james	PROPN
fsr-3710	236	30	h.	h.	PROPN
fsr-3710	236	31	lorie	lorie	PROPN
fsr-3710	236	32	.	.	PUNCT
fsr-3710	237	1	1970	1970	NUM
fsr-3710	237	2	.	.	PUNCT
fsr-3710	238	1	“	"	PUNCT
fsr-3710	238	2	some	some	DET
fsr-3710	238	3	studies	study	NOUN
fsr-3710	238	4	of	of	ADP
fsr-3710	238	5	variability	variability	NOUN
fsr-3710	238	6	of	of	ADP
fsr-3710	238	7	returns	return	NOUN
fsr-3710	238	8	on	on	ADP
fsr-3710	238	9	investments	investment	NOUN
fsr-3710	238	10	in	in	ADP
fsr-3710	238	11	common	common	ADJ
fsr-3710	238	12	stocks	stock	NOUN
fsr-3710	238	13	,	,	PUNCT
fsr-3710	238	14	”	"	PUNCT
fsr-3710	238	15	journal	journal	NOUN
fsr-3710	238	16	of	of	ADP
fsr-3710	238	17	business	business	NOUN
fsr-3710	238	18	,	,	PUNCT
fsr-3710	238	19	43	43	NUM
fsr-3710	238	20	:	:	SYM
fsr-3710	238	21	99	99	NUM
fsr-3710	238	22	-	-	PUNCT
fsr-3710	238	23	l	l	NOUN
fsr-3710	238	24	17	17	NUM
fsr-3710	238	25	an	an	DET
fsr-3710	238	26	index	index	NOUN
fsr-3710	238	27	of	of	ADP
fsr-3710	238	28	portfolio	portfolio	NOUN
fsr-3710	238	29	diversification	diversification	NOUN
fsr-3710	238	30	85	85	NUM
fsr-3710	238	31	goldsmith	goldsmith	NOUN
fsr-3710	238	32	,	,	PUNCT
fsr-3710	238	33	david	david	PROPN
fsr-3710	238	34	.	.	PROPN
fsr-3710	238	35	1976	1976	NUM
fsr-3710	238	36	.	.	PUNCT
fsr-3710	239	1	“	"	PUNCT
fsr-3710	239	2	transactions	transaction	NOUN
fsr-3710	239	3	costs	cost	NOUN
fsr-3710	239	4	and	and	CCONJ
fsr-3710	239	5	the	the	DET
fsr-3710	239	6	theory	theory	NOUN
fsr-3710	239	7	of	of	ADP
fsr-3710	239	8	portfolio	portfolio	NOUN
fsr-3710	239	9	selection	selection	NOUN
fsr-3710	239	10	,	,	PUNCT
fsr-3710	239	11	”	"	PUNCT
fsr-3710	239	12	journal	journal	NOUN
fsr-3710	239	13	of	of	ADP
fsr-3710	239	14	finance	finance	NOUN
fsr-3710	239	15	,	,	PUNCT
fsr-3710	239	16	31	31	NUM
fsr-3710	239	17	:	:	SYM
fsr-3710	239	18	1127	1127	NUM
fsr-3710	239	19	-	-	SYM
fsr-3710	239	20	1139	1139	NUM
fsr-3710	239	21	.	.	PUNCT
fsr-3710	240	1	hall	hall	NOUN
fsr-3710	240	2	,	,	PUNCT
fsr-3710	240	3	m.	m.	NOUN
fsr-3710	240	4	,	,	PUNCT
fsr-3710	240	5	and	and	CCONJ
fsr-3710	240	6	n.	n.	PROPN
fsr-3710	240	7	tideman	tideman	NOUN
fsr-3710	240	8	.	.	PROPN
fsr-3710	240	9	1967	1967	NUM
fsr-3710	240	10	.	.	PUNCT
fsr-3710	241	1	“	"	PUNCT
fsr-3710	241	2	measures	measure	NOUN
fsr-3710	241	3	of	of	ADP
fsr-3710	241	4	concentration	concentration	NOUN
fsr-3710	241	5	,	,	PUNCT
fsr-3710	241	6	”	"	PUNCT
fsr-3710	241	7	journal	journal	NOUN
fsr-3710	241	8	of	of	ADP
fsr-3710	241	9	the	the	DET
fsr-3710	241	10	american	american	PROPN
fsr-3710	241	11	statistical	statistical	PROPN
fsr-3710	241	12	association	association	NOUN
fsr-3710	241	13	,	,	PUNCT
fsr-3710	241	14	62	62	NUM
fsr-3710	241	15	:	:	SYM
fsr-3710	241	16	162	162	NUM
fsr-3710	241	17	-	-	SYM
fsr-3710	241	18	168	168	NUM
fsr-3710	241	19	.	.	PUNCT
fsr-3710	242	1	hart	hart	PROPN
fsr-3710	242	2	,	,	PUNCT
fsr-3710	242	3	p.e	p.e	PROPN
fsr-3710	242	4	.	.	PROPN
fsr-3710	242	5	1971	1971	NUM
fsr-3710	242	6	.	.	PUNCT
fsr-3710	243	1	“	"	PUNCT
fsr-3710	243	2	entropy	entropy	NOUN
fsr-3710	243	3	and	and	CCONJ
fsr-3710	243	4	other	other	ADJ
fsr-3710	243	5	measures	measure	NOUN
fsr-3710	243	6	of	of	ADP
fsr-3710	243	7	concentration	concentration	NOUN
fsr-3710	243	8	,	,	PUNCT
fsr-3710	243	9	”	"	PUNCT
fsr-3710	243	10	journal	journal	NOUN
fsr-3710	243	11	of	of	ADP
fsr-3710	243	12	the	the	DET
fsr-3710	243	13	royal	royal	ADJ
fsr-3710	243	14	statistical	statistical	ADJ
fsr-3710	243	15	society	society	NOUN
fsr-3710	243	16	,	,	PUNCT
fsr-3710	243	17	134	134	NUM
fsr-3710	243	18	:	:	PUNCT
fsr-3710	243	19	73	73	NUM
fsr-3710	243	20	-	-	SYM
fsr-3710	243	21	85	85	NUM
fsr-3710	243	22	.	.	PUNCT
fsr-3710	244	1	horvath	horvath	PROPN
fsr-3710	244	2	,	,	PUNCT
fsr-3710	244	3	janos	janos	PROPN
fsr-3710	244	4	.	.	PUNCT
fsr-3710	244	5	1972	1972	NUM
fsr-3710	244	6	.	.	PUNCT
fsr-3710	245	1	“	"	PUNCT
fsr-3710	245	2	absolute	absolute	ADJ
fsr-3710	245	3	and	and	CCONJ
fsr-3710	245	4	relative	relative	ADJ
fsr-3710	245	5	measures	measure	NOUN
fsr-3710	245	6	of	of	ADP
fsr-3710	245	7	diversification	diversification	NOUN
fsr-3710	245	8	reconsidered	reconsider	VERB
fsr-3710	245	9	:	:	PUNCT
fsr-3710	245	10	a	a	DET
fsr-3710	245	11	com	com	NOUN
fsr-3710	245	12	ment	ment	NOUN
fsr-3710	245	13	,	,	PUNCT
fsr-3710	245	14	”	"	PUNCT
fsr-3710	245	15	kyklos	kyklo	NOUN
fsr-3710	245	16	,	,	PUNCT
fsr-3710	245	17	24	24	NUM
fsr-3710	245	18	:	:	PUNCT
fsr-3710	245	19	841	841	NUM
fsr-3710	245	20	-	-	SYM
fsr-3710	245	21	843	843	NUM
fsr-3710	245	22	.	.	PUNCT
fsr-3710	246	1	klernkosky	klernkosky	NOUN
fsr-3710	246	2	,	,	PUNCT
fsr-3710	246	3	robert	robert	PROPN
fsr-3710	246	4	c.	c.	PROPN
fsr-3710	246	5	,	,	PUNCT
fsr-3710	246	6	and	and	CCONJ
fsr-3710	246	7	john	john	PROPN
fsr-3710	246	8	d.	d.	PROPN
fsr-3710	246	9	martin	martin	PROPN
fsr-3710	246	10	.	.	PUNCT
fsr-3710	247	1	1975	1975	NUM
fsr-3710	247	2	.	.	PUNCT
fsr-3710	248	1	“	"	PUNCT
fsr-3710	248	2	the	the	DET
fsr-3710	248	3	effect	effect	NOUN
fsr-3710	248	4	of	of	ADP
fsr-3710	248	5	market	market	NOUN
fsr-3710	248	6	risk	risk	NOUN
fsr-3710	248	7	on	on	ADP
fsr-3710	248	8	portfolio	portfolio	NOUN
fsr-3710	248	9	diversifi	diversifi	PROPN
fsr-3710	248	10	cation	cation	NOUN
fsr-3710	248	11	,	,	PUNCT
fsr-3710	248	12	”	"	PUNCT
fsr-3710	248	13	journal	journal	NOUN
fsr-3710	248	14	of	of	ADP
fsr-3710	248	15	finance	finance	NOUN
fsr-3710	248	16	,	,	PUNCT
fsr-3710	248	17	xxx	xxx	PROPN
fsr-3710	248	18	:	:	PUNCT
fsr-3710	248	19	147	147	NUM
fsr-3710	248	20	-	-	SYM
fsr-3710	248	21	154	154	NUM
fsr-3710	248	22	.	.	PUNCT
fsr-3710	249	1	lovett	lovett	PROPN
fsr-3710	249	2	,	,	PUNCT
fsr-3710	249	3	william	william	PROPN
fsr-3710	249	4	a.	a.	PROPN
fsr-3710	249	5	1988	1988	NUM
fsr-3710	249	6	.	.	PUNCT
fsr-3710	250	1	banking	banking	NOUN
fsr-3710	250	2	and	and	CCONJ
fsr-3710	250	3	financial	financial	ADJ
fsr-3710	250	4	institutions	institution	NOUN
fsr-3710	250	5	law	law	NOUN
fsr-3710	250	6	in	in	ADP
fsr-3710	250	7	a	a	DET
fsr-3710	250	8	nutshell	nutshell	NOUN
fsr-3710	250	9	,	,	PUNCT
fsr-3710	250	10	second	second	ADJ
fsr-3710	250	11	edition	edition	NOUN
fsr-3710	250	12	,	,	PUNCT
fsr-3710	250	13	west	west	PROPN
fsr-3710	250	14	publishing	publishing	PROPN
fsr-3710	250	15	co.	co.	PROPN
fsr-3710	250	16	marfels	marfel	NOUN
fsr-3710	250	17	,	,	PUNCT
fsr-3710	250	18	christian	christian	PROPN
fsr-3710	250	19	.	.	PUNCT
fsr-3710	250	20	1971	1971	NUM
fsr-3710	250	21	.	.	PUNCT
fsr-3710	251	1	“	"	PUNCT
fsr-3710	251	2	absolute	absolute	ADJ
fsr-3710	251	3	and	and	CCONJ
fsr-3710	251	4	relative	relative	ADJ
fsr-3710	251	5	measures	measure	NOUN
fsr-3710	251	6	of	of	ADP
fsr-3710	251	7	concentration	concentration	NOUN
fsr-3710	251	8	reconsidered	reconsider	VERB
fsr-3710	251	9	,	,	PUNCT
fsr-3710	251	10	”	"	PUNCT
fsr-3710	251	11	kyklos	kyklo	NOUN
fsr-3710	251	12	,	,	PUNCT
fsr-3710	251	13	24	24	NUM
fsr-3710	251	14	:	:	PUNCT
fsr-3710	251	15	753	753	NUM
fsr-3710	251	16	-	-	SYM
fsr-3710	251	17	766	766	NUM
fsr-3710	251	18	.	.	PUNCT
fsr-3710	252	1	martin	martin	PROPN
fsr-3710	252	2	,	,	PUNCT
fsr-3710	252	3	john	john	PROPN
fsr-3710	252	4	d.	d.	PROPN
fsr-3710	252	5	,	,	PUNCT
fsr-3710	252	6	and	and	CCONJ
fsr-3710	252	7	robert	robert	PROPN
fsr-3710	252	8	c.	c.	PROPN
fsr-3710	252	9	klemkosky	klemkosky	PROPN
fsr-3710	252	10	.	.	PUNCT
fsr-3710	252	11	1976	1976	NUM
fsr-3710	252	12	.	.	PUNCT
fsr-3710	253	1	“	"	PUNCT
fsr-3710	253	2	the	the	DET
fsr-3710	253	3	effect	effect	NOUN
fsr-3710	253	4	of	of	ADP
fsr-3710	253	5	homogeneous	homogeneous	ADJ
fsr-3710	253	6	stock	stock	NOUN
fsr-3710	253	7	groupings	grouping	NOUN
fsr-3710	253	8	on	on	ADP
fsr-3710	253	9	portfolio	portfolio	NOUN
fsr-3710	253	10	risk	risk	NOUN
fsr-3710	253	11	,	,	PUNCT
fsr-3710	253	12	”	"	PUNCT
fsr-3710	253	13	journal	journal	NOUN
fsr-3710	253	14	of	of	ADP
fsr-3710	253	15	financial	financial	ADJ
fsr-3710	253	16	and	and	CCONJ
fsr-3710	253	17	quantitative	quantitative	ADJ
fsr-3710	253	18	analysis	analysis	NOUN
fsr-3710	253	19	,	,	PUNCT
fsr-3710	253	20	12	12	NUM
fsr-3710	253	21	:	:	SYM
fsr-3710	253	22	181	181	NUM
fsr-3710	253	23	-	-	SYM
fsr-3710	253	24	195	195	NUM
fsr-3710	253	25	.	.	PUNCT
fsr-3710	254	1	murphy	murphy	PROPN
fsr-3710	254	2	,	,	PUNCT
fsr-3710	254	3	j.	j.	PROPN
fsr-3710	254	4	austin	austin	PROPN
fsr-3710	254	5	.	.	PROPN
fsr-3710	254	6	1991	1991	NUM
fsr-3710	254	7	.	.	PUNCT
fsr-3710	255	1	“	"	PUNCT
fsr-3710	255	2	evaluating	evaluate	VERB
fsr-3710	255	3	diversification	diversification	NOUN
fsr-3710	255	4	adequacy	adequacy	NOUN
fsr-3710	255	5	with	with	ADP
fsr-3710	255	6	different	different	ADJ
fsr-3710	255	7	asset	asset	NOUN
fsr-3710	255	8	risk	risk	NOUN
fsr-3710	255	9	estimates	estimate	NOUN
fsr-3710	255	10	,	,	PUNCT
fsr-3710	255	11	”	"	PUNCT
fsr-3710	255	12	new	new	PROPN
fsr-3710	255	13	york	york	PROPN
fsr-3710	255	14	economic	economic	PROPN
fsr-3710	255	15	review	review	PROPN
fsr-3710	255	16	,	,	PUNCT
fsr-3710	255	17	xxi	xxi	PROPN
fsr-3710	255	18	:	:	PUNCT
fsr-3710	255	19	50	50	NUM
fsr-3710	255	20	-	-	SYM
fsr-3710	255	21	55	55	NUM
fsr-3710	255	22	.	.	PUNCT
fsr-3710	256	1	polakoff	polakoff	PROPN
fsr-3710	256	2	,	,	PUNCT
fsr-3710	256	3	murray	murray	PROPN
fsr-3710	256	4	,	,	PUNCT
fsr-3710	256	5	and	and	CCONJ
fsr-3710	256	6	thomas	thomas	PROPN
fsr-3710	256	7	a.	a.	PROPN
fsr-3710	256	8	durkin	durkin	PROPN
fsr-3710	256	9	(	(	PUNCT
fsr-3710	256	10	eds	ed	NOUN
fsr-3710	256	11	.	.	PUNCT
fsr-3710	256	12	)	)	PUNCT
fsr-3710	256	13	.	.	PUNCT
fsr-3710	257	1	1981	1981	NUM
fsr-3710	257	2	.	.	PUNCT
fsr-3710	258	1	financial	financial	ADJ
fsr-3710	258	2	institutions	institution	NOUN
fsr-3710	258	3	and	and	CCONJ
fsr-3710	258	4	markets	market	NOUN
fsr-3710	258	5	,	,	PUNCT
fsr-3710	258	6	second	second	ADJ
fsr-3710	258	7	edition	edition	NOUN
fsr-3710	258	8	,	,	PUNCT
fsr-3710	258	9	houghton	houghton	PROPN
fsr-3710	258	10	mifflin	mifflin	PROPN
fsr-3710	258	11	.	.	PUNCT
fsr-3710	259	1	rosenbluth	rosenbluth	ADV
fsr-3710	259	2	,	,	PUNCT
fsr-3710	259	3	g.	g.	PROPN
fsr-3710	259	4	1961	1961	NUM
fsr-3710	259	5	.	.	PUNCT
fsr-3710	260	1	“	"	PUNCT
fsr-3710	260	2	address	address	NOUN
fsr-3710	260	3	to	to	ADP
fsr-3710	260	4	‘	'	PUNCT
fsr-3710	260	5	round	round	ADJ
fsr-3710	260	6	-	-	PUNCT
fsr-3710	260	7	table	table	NOUN
fsr-3710	260	8	-	-	PUNCT
fsr-3710	260	9	gesprach	gesprach	NOUN
fsr-3710	260	10	uber	uber	NOUN
fsr-3710	260	11	messung	messung	PROPN
fsr-3710	260	12	der	der	NOUN
fsr-3710	260	13	industriellen	industriellen	ADJ
fsr-3710	260	14	konzen	konzen	PROPN
fsr-3710	260	15	tration	tration	NOUN
fsr-3710	260	16	”	"	PUNCT
fsr-3710	260	17	‘	'	PUNCT
fsr-3710	260	18	,	,	PUNCT
fsr-3710	260	19	die	die	VERB
fsr-3710	260	20	konzentration	konzentration	NOUN
fsr-3710	260	21	in	in	ADP
fsr-3710	260	22	der	der	ADJ
fsr-3710	260	23	wirtschafi	wirtschafi	PROPN
fsr-3710	260	24	,	,	PUNCT
fsr-3710	260	25	edited	edit	VERB
fsr-3710	260	26	by	by	ADP
fsr-3710	260	27	f.	f.	PROPN
fsr-3710	260	28	neumark	neumark	PROPN
fsr-3710	260	29	,	,	PUNCT
fsr-3710	260	30	schriften	schriften	VERB
fsr-3710	260	31	des	des	PROPN
fsr-3710	260	32	vereins	verein	NOUN
fsr-3710	260	33	fur	fur	NOUN
fsr-3710	260	34	socialpolitik	socialpolitik	NOUN
fsr-3710	260	35	,	,	PUNCT
fsr-3710	260	36	n.s	n.s	PROPN
fsr-3710	260	37	.	.	PROPN
fsr-3710	260	38	,	,	PUNCT
fsr-3710	260	39	22	22	NUM
fsr-3710	260	40	:	:	SYM
fsr-3710	260	41	391	391	NUM
fsr-3710	260	42	-	-	SYM
fsr-3710	260	43	394	394	NUM
fsr-3710	260	44	.	.	PUNCT
fsr-3710	261	1	shanker	shanker	NOUN
fsr-3710	261	2	,	,	PUNCT
fsr-3710	261	3	latha	latha	PROPN
fsr-3710	261	4	.	.	PUNCT
fsr-3710	262	1	“	"	PUNCT
fsr-3710	262	2	benchmark	benchmark	ADJ
fsr-3710	262	3	portfolios	portfolio	NOUN
fsr-3710	262	4	,	,	PUNCT
fsr-3710	262	5	transactions	transaction	NOUN
fsr-3710	262	6	costs	cost	NOUN
fsr-3710	262	7	and	and	CCONJ
fsr-3710	262	8	the	the	DET
fsr-3710	262	9	number	number	NOUN
fsr-3710	262	10	of	of	ADP
fsr-3710	262	11	stocks	stock	NOUN
fsr-3710	262	12	in	in	ADP
fsr-3710	262	13	a	a	DET
fsr-3710	262	14	diversified	diversified	ADJ
fsr-3710	262	15	portfolio	portfolio	NOUN
fsr-3710	262	16	,	,	PUNCT
fsr-3710	262	17	”	"	PUNCT
fsr-3710	262	18	presented	present	VERB
fsr-3710	262	19	at	at	ADP
fsr-3710	262	20	the	the	DET
fsr-3710	262	21	1989	1989	NUM
fsr-3710	262	22	meeting	meeting	NOUN
fsr-3710	262	23	of	of	ADP
fsr-3710	262	24	the	the	DET
fsr-3710	262	25	midwest	midwest	PROPN
fsr-3710	262	26	finance	finance	PROPN
fsr-3710	262	27	association	association	PROPN
fsr-3710	262	28	,	,	PUNCT
fsr-3710	262	29	cincinnati	cincinnati	PROPN
fsr-3710	262	30	,	,	PUNCT
fsr-3710	262	31	ohio	ohio	PROPN
fsr-3710	262	32	.	.	PUNCT
fsr-3710	263	1	sharpe	sharpe	PROPN
fsr-3710	263	2	,	,	PUNCT
fsr-3710	263	3	william	william	PROPN
fsr-3710	263	4	f.	f.	PROPN
fsr-3710	263	5	,	,	PUNCT
fsr-3710	263	6	gordon	gordon	PROPN
fsr-3710	263	7	j.	j.	PROPN
fsr-3710	263	8	alexander	alexander	PROPN
fsr-3710	263	9	.	.	PUNCT
fsr-3710	264	1	1990	1990	NUM
fsr-3710	264	2	.	.	PUNCT
fsr-3710	265	1	investments	investment	NOUN
fsr-3710	265	2	,	,	PUNCT
fsr-3710	265	3	fourth	fourth	ADJ
fsr-3710	265	4	edition	edition	NOUN
fsr-3710	265	5	,	,	PUNCT
fsr-3710	265	6	prentice	prentice	NOUN
fsr-3710	265	7	-	-	PUNCT
fsr-3710	265	8	hall	hall	NOUN
fsr-3710	265	9	.	.	PUNCT
fsr-3710	266	1	solnik	solnik	PROPN
fsr-3710	266	2	,	,	PUNCT
fsr-3710	266	3	bruno	bruno	PROPN
fsr-3710	266	4	.	.	PROPN
fsr-3710	266	5	1974	1974	NUM
fsr-3710	266	6	.	.	PUNCT
fsr-3710	267	1	“	"	PUNCT
fsr-3710	267	2	why	why	SCONJ
fsr-3710	267	3	not	not	PART
fsr-3710	267	4	diversify	diversify	VERB
fsr-3710	267	5	internationally	internationally	ADV
fsr-3710	267	6	rather	rather	ADV
fsr-3710	267	7	than	than	ADP
fsr-3710	267	8	domestically	domestically	ADV
fsr-3710	267	9	?	?	PUNCT
fsr-3710	267	10	’	'	PUNCT
fsr-3710	268	1	financial	financial	ADJ
fsr-3710	268	2	analysts	analyst	NOUN
fsr-3710	268	3	journal	journal	NOUN
fsr-3710	268	4	,	,	PUNCT
fsr-3710	268	5	30	30	NUM
fsr-3710	268	6	:	:	PUNCT
fsr-3710	268	7	48	48	NUM
fsr-3710	268	8	-	-	SYM
fsr-3710	268	9	54	54	NUM
fsr-3710	268	10	.	.	PUNCT
fsr-3710	269	1	statman	statman	PROPN
fsr-3710	269	2	,	,	PUNCT
fsr-3710	269	3	meir	meir	PROPN
fsr-3710	269	4	.	.	PROPN
fsr-3710	269	5	1987	1987	NUM
fsr-3710	269	6	.	.	PUNCT
fsr-3710	270	1	“	"	PUNCT
fsr-3710	270	2	how	how	SCONJ
fsr-3710	270	3	many	many	ADJ
fsr-3710	270	4	stocks	stock	NOUN
fsr-3710	270	5	make	make	VERB
fsr-3710	270	6	a	a	DET
fsr-3710	270	7	diversified	diversified	ADJ
fsr-3710	270	8	portfolio	portfolio	NOUN
fsr-3710	270	9	?	?	PUNCT
fsr-3710	270	10	’	'	PUNCT
fsr-3710	270	11	journal	journal	NOUN
fsr-3710	270	12	of	of	ADP
fsr-3710	270	13	financial	financial	ADJ
fsr-3710	270	14	and	and	CCONJ
fsr-3710	270	15	quantitative	quantitative	ADJ
fsr-3710	270	16	analysis	analysis	NOUN
fsr-3710	270	17	,	,	PUNCT
fsr-3710	270	18	22	22	NUM
fsr-3710	270	19	:	:	PUNCT
fsr-3710	270	20	353	353	NUM
fsr-3710	270	21	-	-	SYM
fsr-3710	270	22	363	363	NUM
fsr-3710	270	23	.	.	PUNCT
fsr-3710	271	1	upson	upson	PROPN
fsr-3710	271	2	,	,	PUNCT
fsr-3710	271	3	roger	roger	PROPN
fsr-3710	271	4	b.	b.	PROPN
fsr-3710	271	5	,	,	PUNCT
fsr-3710	271	6	paul	paul	PROPN
fsr-3710	271	7	f.	f.	PROPN
fsr-3710	271	8	jessup	jessup	PROPN
fsr-3710	271	9	,	,	PUNCT
fsr-3710	271	10	and	and	CCONJ
fsr-3710	271	11	keishiro	keishiro	PROPN
fsr-3710	271	12	matsumoto	matsumoto	PROPN
fsr-3710	271	13	.	.	PUNCT
fsr-3710	272	1	1975	1975	NUM
fsr-3710	272	2	.	.	PUNCT
fsr-3710	273	1	“	"	PUNCT
fsr-3710	273	2	portfolio	portfolio	NOUN
fsr-3710	273	3	diversification	diversification	NOUN
fsr-3710	273	4	strate	strate	VERB
fsr-3710	273	5	gies	gy	NOUN
fsr-3710	273	6	,	,	PUNCT
fsr-3710	273	7	”	"	PUNCT
fsr-3710	273	8	financial	financial	ADJ
fsr-3710	273	9	analysts	analyst	NOUN
fsr-3710	273	10	journal	journal	NOUN
fsr-3710	273	11	,	,	PUNCT
fsr-3710	273	12	3	3	NUM
fsr-3710	273	13	1	1	NUM
fsr-3710	273	14	:	:	SYM
fsr-3710	273	15	86	86	NUM
fsr-3710	273	16	-	-	SYM
fsr-3710	273	17	88	88	NUM
fsr-3710	273	18	.	.	PUNCT
fsr-3710	274	1	wagner	wagner	PROPN
fsr-3710	274	2	,	,	PUNCT
fsr-3710	274	3	w.h	w.h	PROPN
fsr-3710	274	4	.	.	PROPN
fsr-3710	274	5	,	,	PUNCT
fsr-3710	274	6	and	and	CCONJ
fsr-3710	274	7	sc	sc	PROPN
fsr-3710	274	8	.	.	PROPN
fsr-3710	274	9	lau	lau	PROPN
fsr-3710	274	10	.	.	PUNCT
fsr-3710	274	11	1971	1971	NUM
fsr-3710	274	12	.	.	PUNCT
fsr-3710	275	1	‘	'	PUNCT
fsr-3710	275	2	the	the	DET
fsr-3710	275	3	effect	effect	NOUN
fsr-3710	275	4	of	of	ADP
fsr-3710	275	5	diversification	diversification	NOUN
fsr-3710	275	6	on	on	ADP
fsr-3710	275	7	risk	risk	NOUN
fsr-3710	275	8	,	,	PUNCT
fsr-3710	275	9	”	"	PUNCT
fsr-3710	275	10	financial	financial	ADJ
fsr-3710	275	11	analysts	analyst	NOUN
fsr-3710	275	12	journal	journal	NOUN
fsr-3710	275	13	,	,	PUNCT
fsr-3710	275	14	27	27	NUM
fsr-3710	275	15	:	:	SYM
fsr-3710	275	16	48	48	NUM
fsr-3710	275	17	-	-	SYM
fsr-3710	275	18	53	53	NUM
fsr-3710	275	19	.	.	PUNCT