The index is composed of long positions in best stocks and short positions in worst stocks. The index was tested during the 1996–2007 period and produced returns that beat the S&P 500 by more than a...

The index is composed of long positions in best stocks and short positions in worst stocks. The index was tested during the 1996–2007 period and produced returns that beat the S&P 500 by more than a percentage point per year (with similar volatility).