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The article presents a study which provides a review of the concept of investing in national equity markets of the MSCI Inc. Developed Markets based solely on the size as measured by their respective market capitalization. The researchers cover the 40-year period from December 31, 1969 through December 31, 2009 doubling the test period of the 1993 study. The article also discusses the findings wherein one reveals the negative correlation of the arithmetic average monthly total returns.