@SentryBox77
If APT is 5% of a funds holding, and it drops 20%, how much does the fund lose?
Additionally,
If the fund holds CBA and RIO, which are 5% of the fund each and they go up 5% each, what is the net effect on the portfolio?
Your logic is a little flawed, you aren't taking into account position size or the diversity of most portfolios held by managers.
