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	<title>CXO Advisory</title>
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		<title>Mutual Fund Alpha Momentum [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/20905/mutual-hedge-funds/mutual-fund-alpha-momentum/</link>
		<comments>http://www.cxoadvisory.com/20905/mutual-hedge-funds/mutual-fund-alpha-momentum/#comments</comments>
		<pubDate>Mon, 21 May 2012 10:03:02 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Momentum Investing]]></category>
		<category><![CDATA[Mutual/Hedge Funds]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=20905</guid>
		<description><![CDATA[Does momentum investing work when implemented via mutual fund alpha? In his February 2012 paper entitled &#8220;Short Term Alpha as a Predictor of Future Mutual Fund Performance&#8221; (the National Association of Active Investment Managers&#8217; 2012 Wagner Award runner-up), Michael Hartmann examines a momentum-based approach for selecting outperforming equity mutual funds by investment style. He considers nine equity investment styles: Large Capitalization Growth, <a href="http://www.cxoadvisory.com/20905/mutual-hedge-funds/mutual-fund-alpha-momentum/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Combining Sector and Asset Class ETF Momentum [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/20885/momentum-investing/combining-sector-and-asset-class-etf-momentum/</link>
		<comments>http://www.cxoadvisory.com/20885/momentum-investing/combining-sector-and-asset-class-etf-momentum/#comments</comments>
		<pubDate>Fri, 18 May 2012 16:01:29 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Momentum Investing]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=20885</guid>
		<description><![CDATA[A subscriber asked: &#8220;Have you looked at combining sector and asset class momentum models? This strategy would add alternative asset classes plus cash to the nine sectors.&#8221; A combined strategy encompasses nine sector exchange-traded funds (ETF) defined by the Select Sector Standard &#38; Poor&#8217;s Depository Receipts (SPDR) per &#8220;Simple Sector ETF Momentum Strategy&#8221; plus the eight <a href="http://www.cxoadvisory.com/20885/momentum-investing/combining-sector-and-asset-class-etf-momentum/"><strong>More...</strong></a>]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/20885/momentum-investing/combining-sector-and-asset-class-etf-momentum/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Combining Sector and Style ETF Momentum [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/15011/momentum-investing/combining-sector-and-style-etf-momentum/</link>
		<comments>http://www.cxoadvisory.com/15011/momentum-investing/combining-sector-and-style-etf-momentum/#comments</comments>
		<pubDate>Fri, 18 May 2012 10:02:35 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Momentum Investing]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=15011</guid>
		<description><![CDATA[A subscriber commented and asked: &#8220;You compare style ETF momentum to sector ETF momentum in &#8216;Doing Momentum with Style (ETFs)&#8217;. Can you mix style and sector ETFs to form a combined momentum strategy and compare it with the individual style and sector momentum strategies?&#8221; A combined strategy encompasses the nine sector exchange-traded funds (ETF) defined <a href="http://www.cxoadvisory.com/15011/momentum-investing/combining-sector-and-style-etf-momentum/"><strong>More...</strong></a>]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/15011/momentum-investing/combining-sector-and-style-etf-momentum/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Stock Market Valuation Ratio Trends</title>
		<link>http://www.cxoadvisory.com/4423/fundamental-valuation/stock-market-valuation-ratio-trends/</link>
		<comments>http://www.cxoadvisory.com/4423/fundamental-valuation/stock-market-valuation-ratio-trends/#comments</comments>
		<pubDate>Thu, 17 May 2012 18:00:54 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Fundamental Valuation]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=4423</guid>
		<description><![CDATA[To determine whether the stock market is expensive or cheap, some experts use aggregate valuation ratios, either trailing or forward-looking, such as price-earnings ratio (P/E) and price-dividend ratio. Operating under a belief that such ratios are mean-reverting, most imminently due to movement of stock prices, these experts expect high (low) future stock market returns when <a href="http://www.cxoadvisory.com/4423/fundamental-valuation/stock-market-valuation-ratio-trends/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Kaeppel&#8217;s Sector Seasonality Strategy</title>
		<link>http://www.cxoadvisory.com/2785/calendar-effects/kaeppels-sector-seasonality-strategy/</link>
		<comments>http://www.cxoadvisory.com/2785/calendar-effects/kaeppels-sector-seasonality-strategy/#comments</comments>
		<pubDate>Thu, 17 May 2012 10:06:22 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Calendar Effects]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=2785</guid>
		<description><![CDATA[A reader suggested looking at the strategy described in &#8220;Kaeppel&#8217;s Corner: Sector Seasonality&#8221; and updated in &#8220;Kaeppel&#8217;s Corner: Get Me Back, Clarence&#8221;. The steps of this calendar-based sector strategy are: Buy Fidelity Select Technology (FSPTX) at the October close. Switch from FSPTX to Fidelity Select Energy (FSENX) at the January close. Switch from FSENX to <a href="http://www.cxoadvisory.com/2785/calendar-effects/kaeppels-sector-seasonality-strategy/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Moving Averages and REIT Indexes [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/20892/technical-trading/moving-averages-and-reit-indexes/</link>
		<comments>http://www.cxoadvisory.com/20892/technical-trading/moving-averages-and-reit-indexes/#comments</comments>
		<pubDate>Wed, 16 May 2012 10:09:07 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Technical Trading]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=20892</guid>
		<description><![CDATA[Does timing based on simple moving averages (SMA) work for U.S. Real Estate Investment Trust (REIT) indexes? If so, which moving average is best? In his March 2012 paper entitled &#8220;The Market Timing Power of Moving Averages: Evidence from US REIT Indexes&#8221;, Paskalis Glabadanidis tests the effectiveness of SMAs for timing ten value-weighted and ten similar equal-weighted U.S. <a href="http://www.cxoadvisory.com/20892/technical-trading/moving-averages-and-reit-indexes/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Inflation Forecast Update</title>
		<link>http://www.cxoadvisory.com/5266/economic-indicators/inflation-forecast-update/</link>
		<comments>http://www.cxoadvisory.com/5266/economic-indicators/inflation-forecast-update/#comments</comments>
		<pubDate>Tue, 15 May 2012 12:45:43 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=5266</guid>
		<description><![CDATA[The Inflation Forecast now incorporates actual total and core Consumer Price Index data for April 2012. The actual total (core) inflation rate for April is slightly lower than (slightly higher than) forecasted. The new actual and forecasted inflation rates will flow into Real Earnings Yield Model projections about the end of May. You May Also <a href="http://www.cxoadvisory.com/5266/economic-indicators/inflation-forecast-update/"><strong>More...</strong></a>]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/5266/economic-indicators/inflation-forecast-update/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Simple Tests of DBV as Diversifier [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/20800/strategic-allocation/simple-tests-of-dbv-as-diversifier/</link>
		<comments>http://www.cxoadvisory.com/20800/strategic-allocation/simple-tests-of-dbv-as-diversifier/#comments</comments>
		<pubDate>Tue, 15 May 2012 10:03:29 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Currency Trading]]></category>
		<category><![CDATA[Strategic Allocation]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=20613</guid>
		<description><![CDATA[Does adding a proxy for the currency carry trade among developed economies (long futures on three currencies with the highest interest rates and short futures on three currencies with the lowest interest rates) to a diversified portfolio improve its performance? To check, we add PowerShares DB G10 Currency Harvest (DBV) to the following mix of asset class proxies <a href="http://www.cxoadvisory.com/20800/strategic-allocation/simple-tests-of-dbv-as-diversifier/"><strong>More...</strong></a>]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/20800/strategic-allocation/simple-tests-of-dbv-as-diversifier/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>New &#8220;Currency Trading&#8221; Category</title>
		<link>http://www.cxoadvisory.com/20911/currency-trading/new-currency-trading-category/</link>
		<comments>http://www.cxoadvisory.com/20911/currency-trading/new-currency-trading-category/#comments</comments>
		<pubDate>Mon, 14 May 2012 16:02:47 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Currency Trading]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=20911</guid>
		<description><![CDATA[There is a new &#8220;Currency Trading&#8221; category in the list of blog categories above collecting related entries. You May Also Enjoy... New &#8220;Strategic Allocation&#8221; Category Optimized Currency Trading as Portfolio Diversifier Aggregate Technical Trading and Currency Exchange Rates]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/20911/currency-trading/new-currency-trading-category/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Enhancing the Currency Carry Trade [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/20868/volatility-effects/enhancing-the-currency-carry-trade/</link>
		<comments>http://www.cxoadvisory.com/20868/volatility-effects/enhancing-the-currency-carry-trade/#comments</comments>
		<pubDate>Mon, 14 May 2012 10:04:38 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Currency Trading]]></category>
		<category><![CDATA[Volatility Effects]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=20868</guid>
		<description><![CDATA[Are there ways to enhance the currency carry trade (long currencies offering high interest rates and short those offering low rates)? In the May 2012 version of their paper entitled &#8220;Average Variance, Average Correlation and Currency Returns&#8221;, Gino Cenedese, Lucio Sarno and Ilias Tsiakas investigate the ability of components of the currency exchange market risk (variance of <a href="http://www.cxoadvisory.com/20868/volatility-effects/enhancing-the-currency-carry-trade/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
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