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	<title>CXO Advisory</title>
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		<title>Combining Realized Volatility and Simple Moving Averages [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/7901/volatility-effects/combining-realized-volatility-and-simple-moving-averages/</link>
		<comments>http://www.cxoadvisory.com/7901/volatility-effects/combining-realized-volatility-and-simple-moving-averages/#comments</comments>
		<pubDate>Fri, 03 Feb 2012 11:06:47 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Technical Trading]]></category>
		<category><![CDATA[Volatility Effects]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=7901</guid>
		<description><![CDATA[...evidence indicates that focusing simple moving average trading rules on stocks with relatively high past-year volatility may be profitable. However, potential optimism in assumptions about trade timing and trading frictions for high-volatility stocks suggest caution for this finding.]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Bond Market-Aggregate Earnings Interactions [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/19266/fundamental-valuation/bond-market-aggregate-earnings-interactions/</link>
		<comments>http://www.cxoadvisory.com/19266/fundamental-valuation/bond-market-aggregate-earnings-interactions/#comments</comments>
		<pubDate>Thu, 02 Feb 2012 11:02:17 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Fundamental Valuation]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=19266</guid>
		<description><![CDATA[Do aggregate corporate earnings predict bond market returns? In his January 2012 paper entitled &#8220;Aggregate Earnings and Corporate Bond Markets&#8221;, Xanthi Gkougkousi investigates the relationship between aggregate earnings and corporate bond market returns. Using quarterly aggregate earnings for a broad sample of U.S. stocks with fiscal years ending in March, June, September and December and total <a href="http://www.cxoadvisory.com/19266/fundamental-valuation/bond-market-aggregate-earnings-interactions/"><strong>More...</strong></a>]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/19266/fundamental-valuation/bond-market-aggregate-earnings-interactions/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Stock Market and the Super Bowl</title>
		<link>http://www.cxoadvisory.com/4479/calendar-effects/stock-market-and-the-super-bowl/</link>
		<comments>http://www.cxoadvisory.com/4479/calendar-effects/stock-market-and-the-super-bowl/#comments</comments>
		<pubDate>Wed, 01 Feb 2012 17:02:56 +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=4479</guid>
		<description><![CDATA[Investor mood may affect financial markets. Sports may affect investor mood. The biggest mood-mover among sporting events in the U.S. is likely the National Football League&#8217;s Super Bowl. Is the week before the Super Bowl especially distracting and anxiety-producing? Is the week after the Super Bowl focusing and anxiety-relieving? Presumably, post-game elation and depression cancel <a href="http://www.cxoadvisory.com/4479/calendar-effects/stock-market-and-the-super-bowl/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Buyback Size Effect? [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/11485/size-effect/buyback-size-effect/</link>
		<comments>http://www.cxoadvisory.com/11485/size-effect/buyback-size-effect/#comments</comments>
		<pubDate>Wed, 01 Feb 2012 11:09:04 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Buybacks-Secondaries]]></category>
		<category><![CDATA[Size Effect]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=11485</guid>
		<description><![CDATA[Do companies reliably repurchase their stocks at bargain prices, thus providing signals for investors to tag along? In the January 2012 update of their paper entitled &#8220;Do Firms Buy Their Stock at Bargain Prices? Evidence from Actual Stock Repurchase Disclosures&#8221;, Azi Ben-Rephael, Jacob Oded and Avi Wohl use detailed repurchase data from SEC filings since <a href="http://www.cxoadvisory.com/11485/size-effect/buyback-size-effect/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Momentum Winners and Trading Calendar Updates</title>
		<link>http://www.cxoadvisory.com/11261/fundamental-valuation/market-models-update/</link>
		<comments>http://www.cxoadvisory.com/11261/fundamental-valuation/market-models-update/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 22:00:18 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Calendar Effects]]></category>
		<category><![CDATA[Fundamental Valuation]]></category>
		<category><![CDATA[Momentum Investing]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=11261</guid>
		<description><![CDATA[We have updated the Market Models summary as follows: Extended the Earnings Forecast through the end of 2012 based on an estimate of actual earnings for the fourth quarter of 2011. Extended regressions/rolled projections by one month based on data available through January 2012. Updated backtest charts and the market valuation metrics map based on data <a href="http://www.cxoadvisory.com/11261/fundamental-valuation/market-models-update/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Commercial and Industrial Credit as a Stock Market Driver</title>
		<link>http://www.cxoadvisory.com/19205/economic-indicators/commercial-and-industrial-credit-as-a-stock-market-driver/</link>
		<comments>http://www.cxoadvisory.com/19205/economic-indicators/commercial-and-industrial-credit-as-a-stock-market-driver/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 11:04:14 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=19205</guid>
		<description><![CDATA[...evidence indicates that the net change in commercial and industrial credit standards as measured by the Federal Reserve Board's quarterly survey of senior loan officers may be a useful predictor of U.S. stock market returns at horizons up to about a year.]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Gold Seasonality Drivers [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/19189/calendar-effects/gold-seasonality-drivers/</link>
		<comments>http://www.cxoadvisory.com/19189/calendar-effects/gold-seasonality-drivers/#comments</comments>
		<pubDate>Mon, 30 Jan 2012 11:07:37 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Calendar Effects]]></category>
		<category><![CDATA[Gold]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=19189</guid>
		<description><![CDATA[Does seasonal fear of stock market weakness or demand for jewelry drive gold prices? In his January 2012 paper entitled &#8220;The Seasonality of Gold &#8211; Jewelery Demand and Investor Behavior&#8221;, Dirk Baur examines calendar month seasonality of the price of gold. Using daily gold bullion spot prices (London ﬁxing) and COMEX gold futures prices during <a href="http://www.cxoadvisory.com/19189/calendar-effects/gold-seasonality-drivers/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Doug Kass: Lyrical Oracle?</title>
		<link>http://www.cxoadvisory.com/19181/individual-gurus/doug-kass/</link>
		<comments>http://www.cxoadvisory.com/19181/individual-gurus/doug-kass/#comments</comments>
		<pubDate>Fri, 27 Jan 2012 11:04:43 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Individual Gurus]]></category>
		<category><![CDATA[Guru]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=19181</guid>
		<description><![CDATA[As suggested by readers, we evaluate here Douglas Kass&#8217; outlooks for the U.S. stock market since mid-2006 as extracted from his Seabreeze Partners blog. Douglas Kass is founder and President of Seabreeze Partners Management, Inc., which &#8220;specializes in the management of alternative investment products.&#8221; He writes regularly for TheStreet.com (apparently the source of blog articles) and appears frequently <a href="http://www.cxoadvisory.com/19181/individual-gurus/doug-kass/"><strong>More...</strong></a>]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/19181/individual-gurus/doug-kass/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Value Premium Concentration in January [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/19072/calendar-effects/value-premium-concentration-in-january/</link>
		<comments>http://www.cxoadvisory.com/19072/calendar-effects/value-premium-concentration-in-january/#comments</comments>
		<pubDate>Thu, 26 Jan 2012 11:07:37 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Calendar Effects]]></category>
		<category><![CDATA[Value Premium]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=19072</guid>
		<description><![CDATA[Is the value premium seasonal? In their 2012 paper entitled &#8220;Is the Value Effect Seasonal? Evidence from Global Equity Markets&#8221;, Praveen Kumar Das and Uma Rao investigate the intersection of the January effect and the value premium in stock market indexes around the world. They consider market capitalization-weighted value and growth stock portfolios for the following <a href="http://www.cxoadvisory.com/19072/calendar-effects/value-premium-concentration-in-january/"><strong>More...</strong></a>]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/19072/calendar-effects/value-premium-concentration-in-january/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Hedge Fund Risk and Return [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/19007/mutual-hedge-funds/hedge-fund-risk-and-return/</link>
		<comments>http://www.cxoadvisory.com/19007/mutual-hedge-funds/hedge-fund-risk-and-return/#comments</comments>
		<pubDate>Wed, 25 Jan 2012 11:08:29 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Mutual/Hedge Funds]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=19007</guid>
		<description><![CDATA[Do hedge funds trade on market risk, idiosyncratic risk or tail risk? In their November 2011 paper entitled &#8220;Systematic Risk and the Cross-Section of Hedge Fund Returns&#8221;, Turan Bali, Stephen Brown and Mustafa Caglayan explore the predictability of hedge fund returns based on distinct market-related (systematic), idiosyncratic (residual) and tail risk measures. They alternatively consider four-factor <a href="http://www.cxoadvisory.com/19007/mutual-hedge-funds/hedge-fund-risk-and-return/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
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