You need to pay commission and spread every time you rebalance your portfolio (daily, if you copy the frequency of modern funds) So at the £5ish/trade of my cu

You need to pay commission and spread every time you rebalance your portfolio (daily, if you copy the frequency of modern funds) So at the £5ish/trade of my current broker, that's a cool £912500/year on just commission. For some reason the massively reduced ease of entry to a trading strategy like this is never considered when lauding its historical performance.