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	<title>Performance Analytics Inc.</title>
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		<title>Delivering Alpha through Active Asset Allocation Management:</title>
		<link>http://parmodel.com/1478/</link>
		<comments>http://parmodel.com/1478/#comments</comments>
		<pubDate>Sat, 04 May 2013 21:18:53 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>
		<category><![CDATA[active investment management]]></category>
		<category><![CDATA[active vs passive investing.]]></category>
		<category><![CDATA[alpha]]></category>
		<category><![CDATA[beta]]></category>
		<category><![CDATA[tactical asset allocation]]></category>
		<category><![CDATA[tactical investment]]></category>
		<category><![CDATA[the CAPM]]></category>

		<guid isPermaLink="false">http://parmodel.com/?p=1478</guid>
		<description><![CDATA[From Theory to Practice Roman Chuyan, CFA Alexander Melnikov, Ph.D. Synopsis In this paper, we attempt to reconcile the seemingly-conflicting concepts of the CAPM and active investment management. We start by showing how the CAPM leads to passive investing – simply holding the market portfolio. It puts [...]]]></description>
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		<title>Model-Based Strategies Outperform By Over 5% In 2012, Over 15% Annually Since Inception</title>
		<link>http://parmodel.com/1280/</link>
		<comments>http://parmodel.com/1280/#comments</comments>
		<pubDate>Tue, 29 Jan 2013 19:39:23 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>

		<guid isPermaLink="false">http://parmodel.com/?p=1280</guid>
		<description><![CDATA[&#160; PAR Model™ – U.S. Equities  2012 Model Performance The Stocks-Bonds strategy returned 18.8% in 2012, outperforming the 60/40 benchmark by 9.3%. The Stocks-Cash strategy outperformed by 5.5%. NOTE: All figures are based on model portfolio performance, not actual investments. Two strategies are presented here: Stocks-Bonds and [...]]]></description>
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		<title>Tactical Asset Allocation Gaining Favor</title>
		<link>http://parmodel.com/1217/</link>
		<comments>http://parmodel.com/1217/#comments</comments>
		<pubDate>Thu, 11 Oct 2012 22:37:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>

		<guid isPermaLink="false">http://parmodel.com/?p=1217</guid>
		<description><![CDATA[Tactical asset allocation has been gaining traction lately among institutional investors. Pensions &#38; Investments, an industry publication, just reported on October 8th the results of a survey of institutions by asset manager Pyramis. Their survey showed that 41% of respondents became &#8220;more tactical in their asset allocation over the past [...]]]></description>
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		<title>Tactical Asset Allocation Can Be Successful – With the Right Model</title>
		<link>http://parmodel.com/1170/</link>
		<comments>http://parmodel.com/1170/#comments</comments>
		<pubDate>Fri, 21 Sep 2012 14:25:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>

		<guid isPermaLink="false">http://parmodel.com/?p=1170</guid>
		<description><![CDATA[White Paper Alexander Melnikov, Ph.D. Director of Research September 20, 2012 Portfolio returns in excess of an index can be achieved through active investment management in two ways: security selection, and active (or tactical) asset allocation. Research shows that about 90% of a typical balanced stock-bond portfolio [...]]]></description>
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		<title>PAR Model &#8211; Significant Change To S&amp;P 500 Return Forecast</title>
		<link>http://parmodel.com/1153/</link>
		<comments>http://parmodel.com/1153/#comments</comments>
		<pubDate>Thu, 06 Sep 2012 03:03:09 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>

		<guid isPermaLink="false">http://parmodel.com/?p=1153</guid>
		<description><![CDATA[Our PAR Model&#8217;s short term S&#38;P 500 forecast has been extremely accurate so far this year. We just issued the August report with a significant change in the expected return &#8211; request a free trial of the report here for more details. Forecasting Record In this post, [...]]]></description>
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		<title>Expected Return For U.S. Equities Remains Positive, 3.8%</title>
		<link>http://parmodel.com/1124/</link>
		<comments>http://parmodel.com/1124/#comments</comments>
		<pubDate>Fri, 17 Aug 2012 22:25:20 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>

		<guid isPermaLink="false">http://taacomplete.com/?p=1124</guid>
		<description><![CDATA[As of July 31, 2012 Our quantitative forecasting model continues to point to a positive 6-month expected return for the S&#38;P 500 (SPY) of 3.8%, despite economic headwinds. Accordingly, we recommend that investors areoverweight equities relative to their benchmark weight. &#8220;Active management is forecasting&#8221; &#8211; Grinold and Kahn, Active Portfolio [...]]]></description>
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		<title>Announcement of Model Upgrade</title>
		<link>http://parmodel.com/1091/</link>
		<comments>http://parmodel.com/1091/#comments</comments>
		<pubDate>Thu, 02 Aug 2012 18:08:03 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>

		<guid isPermaLink="false">http://taacomplete.com/?p=1091</guid>
		<description><![CDATA[See the press release at Reuters via PR Newswire. Performance Analytics Announces Upgrade to Models Used to Forecast Equity Market Returns BOSTON, Aug. 2, 2012 /PRNewswire/ &#8212; Performance Analytics (http://www.taacomplete.com) &#8212; a leading provider of tactical asset allocation research for investment management &#8212; announces a significant upgrade to its [...]]]></description>
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		<title>Turning Positive on U.S. Equities</title>
		<link>http://parmodel.com/1079/</link>
		<comments>http://parmodel.com/1079/#comments</comments>
		<pubDate>Fri, 13 Jul 2012 21:22:12 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>

		<guid isPermaLink="false">http://taacomplete.com/?p=1079</guid>
		<description><![CDATA[As of June 30, 2012 The Performance Analytics’ PAR Model ™ changed to a positive stance in June, with the six-month expected return for the S&#38;P 500 of 3.1%. Accordingly, we are changing our recommendation to an Overweight to public equities – a change from our Underweight [...]]]></description>
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		<title>Expected Return for Equities Improves Slightly, Still Negative</title>
		<link>http://parmodel.com/1049/</link>
		<comments>http://parmodel.com/1049/#comments</comments>
		<pubDate>Wed, 20 Jun 2012 12:47:06 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>

		<guid isPermaLink="false">http://taacomplete.com/?p=1049</guid>
		<description><![CDATA[As of May 31, 2012 The PAR Model ™ changed to a less negative position in May: S&#38;P 500 6-m expected return:  −4.4% Recommended allocation:               Underweight Prior month                                        -6.8% Change                                              2.3% The PAR Model ™ had predicted a 6-month market drop, at -5.2% in March, [...]]]></description>
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		<title>More Downside is Expected for Equities</title>
		<link>http://parmodel.com/985/</link>
		<comments>http://parmodel.com/985/#comments</comments>
		<pubDate>Tue, 22 May 2012 11:53:36 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Latest Commentaries]]></category>

		<guid isPermaLink="false">http://taacomplete.com/?p=985</guid>
		<description><![CDATA[Results as of April 30, 2012 The PAR Model™ moved to a somewhat larger negative position in April: S&#38;P 500 6-m expected return:           −6.8% Recommended allocation:                    Underweight Prior month                                         -5.2% Change                                                -1.6%  Putting It in Perspective Starting in 2008, the Federal Reserve has implemented monetary stimulus [...]]]></description>
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