Objective research and reviews to aid investing decisions
This web site presents models, research summaries, analyses and reviews designed for objective, unique and concise value to serious individual investors and traders, financial advisors and fund managers - a modicum of actionable conclusions found in a very noisy environment. The default approach is to challenge any and all conventional market wisdom with analytical skepticism.
Site Sections
Blog - Investing Notes records financial markets analyses and insights (not transient news) from an investor/trader perspective. Many entries are summaries of academic papers. Normal update schedule is most trading days. The list in the header above offers short-cuts to topical cross-sections of the blog archives.
Stock Market Status provides the current bottom-line projections of our stock market models. Normal update schedule is after the close each trading day.
Real Earnings Yield Model presents the Real Earnings Yield Model of the stock market. Normal update schedule is approximately monthly as new data accumulates.
Reversion-to-Value Model describes the Reversion-to-Value Model of the stock market. Normal update schedule is approximately monthly as new data accumulates.
Earnings Trends provides an overview of aggregate S&P 500 operating earnings data/trends from other sources. Normal update schedule is every few weeks to incorporate new data.
Inflation Forecast provides a projection of the 12-month trailing inflation rate by month for the next year. Normal update schedule is monthly to incorporate new data.
Guru Grades offers a summary of the accuracies of various experts in predicting the behavior of the U.S. stock market, along with supporting notes and links to detailed evaluations. Normal update schedule is approximately biweekly.
Trading Calendar provides typical full-year and monthly performance of the stock market (S&P 500 index) based on its average behavior since 1950 and 1990. Normal update schedule is monthly to incorporate new data.
Cartoons highlights those blog entries that have original cartoons that reinforce investment concepts and issues. This section has no regular update schedule.
Strategy Test describes and tracks the performance of an investment strategy that combines several potentially exploitable stock market premiums/anomalies. Normal update schedule is as required based on activity, and monthly to record performance.
About provides some background information on CXOadvisory.com. This section has no regular update schedule.
Latest Blog Entry
We occasionally get requests from readers to review the claims stated by an online investing/trading advisory service or investment manager. Most such web sites do not provide enough information to perform a quantitative review. Here is compilation of key points to consider in evaluating the claims of advisory services:
For the full entry, go to
Blog - Investing Notes.
Latest Market Projection
Projected change in S&P 500 index as of the market close on 8/29/08...

For context and elaboration, go to
Stock Market Status.
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