TY - JOUR T1 - Why Indexation Can Be a Dangerous Strategy JF - The Journal of Wealth Management SP - 58 LP - 63 DO - 10.3905/jwm.2003.320475 VL - 6 IS - 1 AU - Harry M. Kat Y1 - 2003/04/30 UR - https://pm-research.com/content/6/1/58.abstract N2 - In this brief note, the author shows that significant autonomous changes may occur in the risk-return profile of index replicating portfolios. Although the name of the index doesn't change, the underlying risks do. Investors should therefore check regularly whether the index is still what they think it is, and if not make the necessary adjustments. ER -