Generated by All in One SEO v5.0.0.1, this is an llms.txt file, used by LLMs to index the site. # The National Association of Active Investment Managers - NAAIM Join NAAIM and Meet Other Active Investment Advisors ## Sitemaps - [XML Sitemap](https://naaim.org/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [July 2026: Constructive Resilience | More Downside to Come, But Bull Not Over | Staying Optimistic | Attention Is Not Efficiency | Heads Up! (The Message from the NAAIM Indicator Wall) | Mixed Signals | Passing The Baton | Resistance is Futile | Is Apple Upsetting the Apple Cart? | Latest Market Video](https://naaim.org/july-2026-constructive-resilience-more-downside-to-come-but-bull-not-over-staying-optimistic-attention-is-not-efficiency-heads-up-the-message-from-the-naaim-indicator-wall-mixed-signals/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [May 2026: One Chart Explains It All | Why High-Net-Worth Portfolios Need Active Risk Modeling in 2026 | Rapid Sentiment Shift | Spring Cleaning | The Relevant Question | U-Turn | May The Gains Continue | Is Apple Upsetting the Apple Cart? | Latest Market Insights Video](https://naaim.org/may-2026-one-chart-explains-it-all-why-high-net-worth-portfolios-need-active-risk-modeling-in-2026-rapid-sentiment-shift-spring-cleaning-the-relevant-question-u-turn-may-the-gains-continu/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [March 2026: The State of the Rotation Trade | No Change in Bull Market | Time For Caution? | War and Equities | Message From the NAAIM Indicator Wall | Risk is Rising | A Topping Pattern? | Crude Awakening | Market Insights Video](https://naaim.org/march-2026-the-state-of-the-rotation-trade-no-change-in-bull-market-time-for-caution-war-and-equities-message-from-the-naaim-indicator-wall-risk-is-rising-a-topping-pattern-crude-awak/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [February 2026: Who To Believe: The Trader Bros or the CEOs? | Bears Have It All Wrong, Again | Cracks In The Foundation? | The Message From the NAAIM Indicator Wall | February's Can Be Tough | A (Very) Rough Reset | A Token For Your Thoughts | Latest Market Insights Video](https://naaim.org/february-2026-who-to-believe-the-trader-bros-or-the-ceos-bears-have-it-all-wrong-again-cracks-in-the-foundation-the-message-from-the-naaim-indicator-wall-februarys-can-be-tough-a-ver/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [January 2026: The Macro View: The Economy & Earnings | 2026 Fearless Forecast - The Worst Year Since 2022 | Managing Volatility is Mission Critical | Eyes Wide Open | Where Do We Go From Here? | New Year, New Highs, New Leaders | A Token For Your Thoughts | Latest Market Insights Video](https://naaim.org/january-2026-the-macro-view-the-economy-earnings-2026-fearless-forecast-the-worst-year-since-2022-managing-volatility-is-mission-critical-eyes-wide-open-where-do-we-go-from-here-new/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [December Edition: Bull vs Bear: The State of the AI Trade | Minor Pullback Sets Up New Highs | Looking Ahead | The Trend is Your Friend - The Message From the NAAIM Indicator Wall | Using Some New Tools in Portfolios | Inflection Point | The NAAIM Dynamic Allocation Model | Bullish Path Remains | Quantum is Clearly The Next Big Thing | Latest Market Insights Video | Putting Money Where Mouth Is - The NAAIM Member Exposure Index](https://naaim.org/december-edition-bull-vs-bear-the-state-of-the-ai-trade-minor-pullback-sets-up-new-highs-looking-ahead-the-trend-is-your-friend-the-message-from-the-naaim-indicator-wall-using-some-new-too/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [November Edition: Time to Panic, Or... | Bonds Outperform Bitcoin With New Setup | Stay The Course | Stay The Course | Inflection Point | Driving in the Fog | A Decade of No Returns?](https://naaim.org/november-edition-time-to-panic-or-bonds-outperform-bitcoin-with-new-setup-stay-the-course-stay-the-course-inflection-point-driving-in-the-fog-a-decade-of-no-returns/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [October Edition: Can Small Caps Continue To Shine? | Pullback Not A Bubble - How To Manage Positions | This Market Not Rhyming | The Message From the NAAIM Indicator Wall | This Trend Is Still Your Friend | Momentum Carries Into Fall | Bears Still On Vacation, So... | Venting And The Beauty of AI | Latest Market Insights Video | NAAIM Exposure Index](https://naaim.org/october-edition-can-small-caps-continue-to-shine-pullback-not-a-bubble-how-to-manage-positions-this-market-not-rhyming-the-message-from-the-naaim-indicator-wall-this-trend-is-still-your-fr/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [September Edition: All About What You Own | About September Being Negative | On Vacation | Not As Bad As Advertised | Riding the Trend | Small Caps, Big Dreams | Value Investing's Blind Spot | Latest Market Insights Video](https://naaim.org/september-edition-all-about-what-you-own-about-september-being-negative-on-vacation-not-as-bad-as-advertised-riding-the-trend-small-caps-big-dreams-value-investings-blind-spot-latest/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [June Edition: Are Valuations A Problem? | Bulls In Charge, But Greed is Back | June Tends To Be Negative When... | The Message From the NAAIM Indicator Wall | Headline Risk Doesn't Mean Market Risk | Above The Mendoza Line | Adapting to the New Reality | Can Anything Top AI?](https://naaim.org/june-edition-are-valuations-a-problem-bulls-in-charge-but-greed-is-back-june-tends-to-be-negative-when-the-message-from-the-naaim-indicator-wall-headline-risk-doesnt-mean-market-risk/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [May Edition: Clear Sailing Ahead? | Forecasting New Highs | Technicals Not Much Help Here | The Message From the NAAIM Indicator Wall | The Headlines are Shifting | Market Gains Traction | NAAIM Dynamic Allocation Model Update | Buy the Dip! | A New Kind of Market | Latest Video Update | The NAAIM Exposure Index](https://naaim.org/may-edition-clear-sailing-ahead-forecasting-new-highs-technicals-not-much-help-here-the-message-from-the-naaim-indicator-wall-the-headlines-are-shifting-market-gains-traction-naaim-dynam/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [March Edition: A Bad News Panic | Bulls Need Less Momentum | February Stuck to the Script | The Message From the NAAIM Indicator Wall | All About Tariffs, But... | Out On A Ledge | Uncertainty Rules The Day | The Age of Autonomous Cars is Here | Latest Market Insights Video | Defense and Uncertainty](https://naaim.org/march-edition-a-bad-news-panic-bulls-need-less-momentum-february-stuck-to-the-script-the-message-from-the-naaim-indicator-wall-all-about-tariffs-but-out-on-a-ledge-uncertainty-rules-t/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [February Edition: Bulls Failing (for now) | A Mixed Bag | The Message From the NAAIM Indicator Wall | The Weight of the Evidence | What The Technicals Tell Us | NAAIM Dynamic Allocation Model | Respecting the Price Action | TikTok: What's All the Fuss? | Market Insights Video | Absorbing Negative News](https://naaim.org/february-edition-bulls-failing-for-now-a-mixed-bag-the-message-from-the-naaim-indicator-wall-the-weight-of-the-evidence-what-the-technicals-tell-us-naaim-dynamic-allocation-model-respec/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [November Edition: Staying Seated on Bull Train | Investors Caught Off Guard But Don't Buy Everything | The Market Doesn't Care About Your Politics | Making Adjustments | Can the Bulls Hold the Line? | Parsing The Data | Private Equity: The Next Big Crisis? | Latest Market Insights Video | All That Glitters](https://naaim.org/november-edition-staying-seated-on-bull-train-investors-caught-off-guard-but-dont-buy-everything-the-market-doesnt-care-about-your-politics-making-adjustments-can-the-bulls-hold-the-line/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [October Edition: How Active Management Helps With Social Security | Seasonality Fake-out? | The Message From the NAAIM Indicator Wall | The Fundamentals Suggest... | Staying on the Bull Train | NAAIM Dynamic Allocation Model | No Time To Throw Caution to Wind | The Election and Your Money | Latest Market Insights Video | All About Growth and...](https://naaim.org/october-edition-how-active-management-helps-with-social-security-seasonality-fake-out-the-message-from-the-naaim-indicator-wall-the-fundamentals-suggest-staying-on-the-bull-train-naaim/) - NAAIM Speaks is newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [August Edition: We've Seen This Movie Before! | Bad News is Bad Again | Protecting The Downside | Fed Holding Rates Too High? | Stocks in Correction | Market at Critical Juncture | Buy Low and Sell High? | Market Insights | Stock Spotlight: Interactive Brokers | Time To Manage Risk!](https://naaim.org/august-edition-weve-seen-this-movie-before-bad-news-is-bad-again-protecting-the-downside-fed-holding-rates-too-high-stocks-in-correction-market-at-critical-juncture-buy-low-and-sell-h/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [June Edition: Three Reasons For Summer Rally | Comparing Nvidia to Dotcom Bubble | Indicators Remain Positive, But... | Message From the NAAIM Indicator Wall | All About Rates | Internals Deteriorating Rapidly | Is Good News Good or Bad? | Selling Picks and Shovels | Where Are We Now? | Stock Spotlight: Churchill Downs](https://naaim.org/june-edition-three-reasons-for-summer-rally-comparing-nvidia-to-dotcom-bubble-indicators-remain-positive-but-message-from-the-naaim-indicator-wall-all-about-rates-internals-deterioratin/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [June 2022 Edition: Can Anything Else Go Wrong? | A Bull Market in Bearishness | Big Picture Looking Ugly | Are We There Yet? | High Risk Environment | Don't Get Your Hopes Up | Breezy With A Chance of Hurricane | Energy is Hot](https://naaim.org/june-2022-edition-can-anything-else-go-wrong-a-bull-market-in-bearishness-big-picture-looking-ugly-are-we-there-yet-high-risk-environment-dont-get-your-hopes-up-breezy-with-a-chance-o/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM’s proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [May Edition: Stronger For (How Much) Longer? | Goldilocks Is In The House | Garden Variety Pullback? | Message From the NAAIM Indicator Wall | Sell in May? | Is The Pullback Over? | Looks Like Sunnier Skies | Thoughts on Inflation | Two Key Risks | We Remain Optimistic](https://naaim.org/may-edition-stronger-for-how-much-longer-goldilocks-is-in-the-house-garden-variety-pullback-message-from-the-naaim-indicator-wall-sell-in-may-is-the-pullback-over-looks-like-sunnier/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [March Edition: Here's Hoping the Fed Goes Slow | Marrying Stocks Will End in Divorce | And We're Back To...| Message From the NAAIM Indicator Wall | Should We Expect a Pullback? | The Trend is Your Friend, But... | It Can Be Lonely | The View from 30,000 Feet](https://naaim.org/march-edition-heres-hoping-the-fed-goes-slow-marrying-stocks-will-end-in-divorce-and-were-back-to-message-from-the-naaim-indicator-wall-should-we-expect-a-pullback-the-trend-is-your/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [February Edition: The Roadmap For 2024 | Bears Carried Out On a Stretcher | Don't Sell in May This Year | The Message From the NAAIM Indicator Wall | Fed-Induced Volatility to Continue | Bulls In Control, But... | Meta Millions | Fed Looking to Stick the Landing](https://naaim.org/february-edition-the-roadmap-for-2024-bears-carried-out-on-a-stretcher-dont-sell-in-may-this-year-the-message-from-the-naaim-indicator-wall-fed-induced-volatility-to-continue-bulls-in-con/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [January 2024 Edition: Making It Official | Not All Rainbows and Unicorns | What A Year It Was | The Primary Cycle Board Says... | Breakout! | Breadth Thrust Signal | Return of the Seven](https://naaim.org/january-2024-edition-making-it-official-not-all-rainbows-and-unicorns-what-a-year-it-was-the-primary-cycle-board-says-breakout-breadth-thrust-signal-return-of-the-seven/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [April Edition: Indicators Screaming for Attention | Two-Day Decline - No One Cares | Calm Markets Tend To... | The Message From the NAAIM Indicator Wall | Should We Be Worried? | Let's Review | NAAIM Dynamic Allocation Model | Looking For a Buying Opportunity | Another Stock Bubble?](https://naaim.org/april-edition-indicators-screaming-for-attention-two-day-decline-no-one-cares-calm-markets-tend-to-the-message-from-the-naaim-indicator-wall-should-we-be-worried-lets-review-naai/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [December 2023 Edition: Words Matter | But Paul, What About... | Getting Back in the Game | State of the Trend | The Fed is Done | Bullish Breakout | The Dynamic Allocation Model | Is GDI Telling the True Economic Story? | Sideways is the New Down | The NAAIM Exposure Index](https://naaim.org/december-2023-edition-words-matter-but-paul-what-about-getting-back-in-the-game-state-of-the-trend-the-fed-is-done-bullish-breakout-the-dynamic-allocation-model-is-gdi-telling-the-t/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [October 2023 Edition: Time For A Rally? | Bulls Have The Edge | Seasonality Strikes Again! | The Message From the NAAIM Indicator Wall | A Weak Environment | Big Move Coming! | NAAIM Dynamic Allocation Model | Failure is Concerning | Time To Manage Risk!](https://naaim.org/october-2023-edition-time-for-a-rally-bulls-have-the-edge-seasonality-strikes-again-the-message-from-the-naaim-indicator-wall-a-weak-environment-big-move-coming-naaim-dynamic-allocatio/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [September 2023 Edition: Stocks Sticking to the Script | Bulls Not Convincing, Yet | Taking a Break | Message From the NAAIM Indicator Wall | Waiting on Additional Information | Good News: Momentum Still Positive | Cloudy With a Chance of Sunshine | On the 50!](https://naaim.org/september-2023-edition-stocks-sticking-to-the-script-bulls-not-convincing-yet-taking-a-break-message-from-the-naaim-indicator-wall-waiting-on-additional-information-good-news-momentum-sti/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [August 2023 Edition: I'm A Bull But Summer Storms May Be Brewing | Staying Seated on Bull Train | Message From the NAAIM Indicator Wall | Leaving The Door Open | Is Technology Getting Tired? | NAAIM Dynamic Allocation Model | If You Can't Beat 'Em, Join 'Em! | Resistance and Earnings Ahead | NAAIM Member Exposure Index](https://naaim.org/august-2023-edition-im-a-bull-but-summer-storms-may-be-brewing-staying-seated-on-bull-train-message-from-the-naaim-indicator-wall-leaving-the-door-open-is-technology-getting-tired-naaim/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [June 2023 Edition: Macro Factors Say Side With Bulls | What Will The Bears Say NOW? | New Highs Ahead? | The Message From the NAAIM Indicator Wall | Debt Ceiling Is Behind Us | The World Really IS a Better Place | The Fly In The Ointment | NAAIM Dynamic Allocation Model | Party Like It's 1999! | Skipping To A Soft Landing?](https://naaim.org/june-2023-edition-macro-factors-say-side-with-bulls-what-will-the-bears-say-now-new-highs-ahead-the-message-from-the-naaim-indicator-wall-debt-ceiling-is-behind-us-the-world-really-is-a-b/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [May 2023 Edition: Sell in May and Go Away? | The Fed is Clueless if They... | Long-Term Indicator Change | The Message From the NAAIM Indicator Wall | The Line In The Sand | Not As Strong As It Looks | Are The Bears Back in Business? | Now What?](https://naaim.org/may-2023-edition-sell-in-may-and-go-away-the-fed-is-clueless-if-they-long-term-indicator-change-the-message-from-the-naaim-indicator-wall-the-line-in-the-sand-not-as-strong-as-it-looks/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [April 2023 Edition: A Powerful Indicator Just Lit Up | A Trend Worth Noting | The Message From the NAAIM Indicator Wall | The Next Worry | Weak Link | The Few Lead The Many | Crosscurrents](https://naaim.org/april-2023-edition-a-powerful-indicator-just-lit-up-a-trend-worth-noting-the-message-from-the-naaim-indicator-wall-the-next-worry-weak-link-the-few-lead-the-many-crosscurrents/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [March 2023 Edition: Bostic Boost | Hating, Disavowing and Fighting the Rally | More Upside Ahead? | The Message From the NAAIM Indicator Wall | All About the Fed (Still) | Staying Bullish | Watching the 200-Day | Ready to Roll!](https://naaim.org/march-2023-edition-bostic-boost-hating-disavowing-and-fighting-the-rally-more-upside-ahead-the-message-from-the-naaim-indicator-wall-all-about-the-fed-still-staying-bullish-watching-t/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [February 2023 Edition: As January Goes, So Goes... | Is Good News Bad Again? | The Year of The Rabbit | The Message From the NAAIM Indicator Wall | Jay Powell Is Changing His Tune | Make Hay While The Sun Shines | Good News, Bad News - Doesn't Matter | Money Flowing Back Into Tech](https://naaim.org/february-2023-edition-as-january-goes-so-goes-is-good-news-bad-again-the-year-of-the-rabbit-the-message-from-the-naaim-indicator-wall-jay-powell-is-changing-his-tune-make-hay-while-the/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [January 2023 Edition: Historical Cycles Disagree with Wall Street Outlook | 2023 Fearless Forecast - The Year of the Bull | "If Santa fails to call..." | The Message From the NAAIM Indicator Wall | Conflicting Signals | Signs of a Tradable Rally | The NAAIM Dynamic Allocation Model | Bulls Jumping the Gun - Again | All That Glitters](https://naaim.org/january-2023-edition-historical-cycles-disagree-with-wall-street-outlook-2023-fearless-forecast-the-year-of-the-bull-if-santa-fails-to-call-the-message-from-the-naaim-indicator-wall/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [DECEMBER EDITION: The Key Questions | Semis & Banks Offer Opposing Views | Barriers To Overcome | Message From the NAAIM Indicator Wall | Conditions Are Improving | Danger Zone | NAAIM Dynamic Allocation Model | The Powell Pump | Santa Rally?](https://naaim.org/december-edition-the-key-questions-semis-banks-offer-opposing-views-barriers-to-overcome-message-from-the-naaim-indicator-wall-conditions-are-improving-danger-zone-naaim-dynamic-allocat/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [November Edition: Looking Ahead to Better Days | Be Sure To Look Under The Hood | Room For Improvement | The Message From the NAAIM Indicator Wall | What We Need To See | The Tide Has Turned | The NAAIM Dynamic Allocation Model | The Waiting Continues | New Leadership!](https://naaim.org/november-edition-looking-ahead-to-better-days-be-sure-to-look-under-the-hood-room-for-improvement-the-message-from-the-naaim-indicator-wall-what-we-need-to-see-the-tide-has-turned-the-naa/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [October Edition: Things Are Starting to Break | New Bull Market or Just Another Bounce? | How Bad Can It Get? | The Early Warning Indicator Board | What The Junk Market is Telling Me Now | Buckle Up | Buy-The-Dip Has Become... | It's Not Over! | Current NAAIM Exposure Reading](https://naaim.org/october-edition-things-are-starting-to-break-new-bull-market-or-just-another-bounce-how-bad-can-it-get-the-early-warning-indicator-board-what-the-junk-market-is-telling-me-now-buckle-up/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [September Edition: A Long Slog? | Stocks Cranky as 2-Yr Soars (Again) | Sadly Just a Bear Market Rally | The Message From the NAAIM Indicator Wall | Bears Large and In Charge | Hanging By a Thread | The NAAIM Dynamic Allocation Model | When It Just Ain't So | Please Don't Fight the Fed/Fundamentals!](https://naaim.org/september-edition-a-long-slog-stocks-cranky-as-2-yr-soars-again-sadly-just-a-bear-market-rally-the-message-from-the-naaim-indicator-wall-bears-large-and-in-charge-hanging-by-a-thread-t/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [August Edition: GDP Getting Real | Dog Days of August | Recession? It Doesn't Matter | Momentum Improving | Questions Remain Longer Term | Coiled Spring | The News Is Bad, But... | Looking For Confirmation](https://naaim.org/august-edition-gdp-getting-real-dog-days-of-august-recession-it-doesnt-matter-momentum-improving-questions-remain-longer-term-coiled-spring-the-news-is-bad-but-looking-for-confir/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [July Edition: What Will It Take? | Staving Off Recession, For Now | Recession Will Follow When... | Message From the NAAIM Indicator Wall | Nothing Has Changed (Yet) | Bears Firmly In Control | NAAIM Dynamic Allocation Model | Watching and Waiting | Risk Remains Elevated | NAAIM Member Exposure Index](https://naaim.org/july-edition-what-will-it-take-staving-off-recession-for-now-recession-will-follow-when-message-from-the-naaim-indicator-wall-nothing-has-changed-yet-bears-firmly-in-control-naaim/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [May 2022: Does the Fed Really Need to W.I.N.? | Lots of Market Worsts | Transitory? | Caution Remains Warranted | Hanging By A Thread | Sell In May Comes Early | Cash is King!](https://naaim.org/may-2022-does-the-fed-really-need-to-w-i-n-lots-of-market-worsts-transitory-caution-remains-warranted-hanging-by-a-thread-sell-in-may-comes-early-cash-is-king/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [April 2022: Don't Fight the Fed? | Oil Bear Rages On | Our Biggest Concern | The Fundamentals | It's a Downtrend | Risk-On or Risk-Off? | Changing SOXX | Time for Alternative Ideas | NAAIM Managers Exposure Index](https://naaim.org/april-2022-dont-fight-the-fed-oil-bear-rages-on-our-biggest-concern-the-fundamentals-its-a-downtrend-risk-on-or-risk-off-changing-soxx-time-for-alternative-ideas-naaim-managers/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [March 2022: Blame It On Putin? | Seeds of an Oil Peak | Nowhere to Hide, Except... | Stocks Hate Uncertainty | The Early Stages of a Bear Market? | Headlines Rule The Day | Has Stagflation Arrived?](https://naaim.org/march-2022-blame-it-on-putin-seeds-of-an-oil-peak-nowhere-to-hide-except-stocks-hate-uncertainty-the-early-stages-of-a-bear-market-headlines-rule-the-day-has-stagflation-arrived/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [February 2022: Are We Having Fun Yet? | Market Due for a Proper Correction in 2022 | That Got Ugly Fast | Risk Remains Elevated | Market Has A Bad Case of Halitosis | This Little Piggy | Cash is King](https://naaim.org/february-2022-are-we-having-fun-yet-market-due-for-a-proper-correction-in-2022-that-got-ugly-fast-risk-remains-elevated-market-has-a-bad-case-of-halitosis-this-little-piggy-cash-is-king/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [December 2021: Santa Getting Tested | When Everyone Has Conviction, They Are Usually Wrong | Playing It Safe, For Now | The Early Warning Board | The Real Story Behind The Move Isn't Omicron | Stocks At Critical Juncture | Oh My-Cron | Not Taking Any Chances](https://naaim.org/december-2021-santa-getting-tested-when-everyone-has-conviction-they-are-usually-wrong-playing-it-safe-for-now-the-early-warning-board-the-real-story-behind-the-move-isnt-omicron-stocks/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [Greedy, Giddy & Euphoric | Reasons for the Rally | Things Are Looking Good | The World Really IS Moving Faster | A Breather is Needed | TINA and FOMO, Oh My! | Still Going Strong](https://naaim.org/greedy-giddy-euphoric-reasons-for-the-rally-things-are-looking-good-the-world-really-is-moving-faster-a-breather-is-needed-tina-and-fomo-oh-my-still-going-strong/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [October 2021 Edition: The Correction Will End When... | Still Calling for All-Time Highs | Sticking to the Script | A Trend in Jeopardy | Risk Has Turned Decidedly Higher | Kicking The Can | Signs of Potential Danger](https://naaim.org/october-2021-edition-the-correction-will-end-when-still-calling-for-all-time-highs-sticking-to-the-script-a-trend-in-jeopardy-risk-has-turned-decidedly-higher-kicking-the-can-signs-of/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. This newsletter is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not - [August 2021 Edition: Don't Look Now, But Valuations Are Improving | Warning Signs Abound | The Message From the NAAIM Indicator Wall | Mixed Signals | Charts Suggesting No Inflation Problem | Caution Remains Warranted | Fed Keeps Printing](https://naaim.org/august-2021-edition-dont-look-now-but-valuations-are-improving-warning-signs-abound-the-message-from-the-naaim-indicator-wall-mixed-signals-charts-suggesting-no-inflation-problem-caution/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. "Speaks" is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [July 2021 Edition: Bulls (Still) Deserve Benefit of Doubt | No Signs of Stress, But... | The Dashboard: Neutral and Weakening | A House (er Market) Divided | Is Breadth a Problem? | A Very Unusual Market | Growth Back In Favor](https://naaim.org/july-2021-edition-bulls-still-deserve-benefit-of-doubt-no-signs-of-stress-but-the-dashboard-neutral-and-weakening-a-house-er-market-divided-is-breadth-a-problem-a-very-unusual-mar/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. "Speaks" is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [June Edition: About That Inflation Problem | Froth and Greed Are Back | Is Sideways the New Down? | The Message From the NAAIM Indicator Wall | The Trend Is Still Your Friend | Where Do Stocks Go From Here? | The NAAIM Dynamic Allocation Model | The Breaking Point | Rotating Back To Growth? | The NAAIM Member Exposure Index](https://naaim.org/june-edition-about-that-inflation-problem-froth-and-greed-are-back-is-sideways-the-new-down-the-message-from-the-naaim-indicator-wall-the-trend-is-still-your-friend-where-do-stocks-go-from/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. "Speaks" is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [May Edition: What Could Go Wrong? | Number One Question Asked Since the Pandemic | The New Pattern Continues | The Message From the NAAIM Indicator Wall | The Trend Is Your Friend | Sell In May and Go Away? | Short Term Top?](https://naaim.org/may-edition-what-could-go-wrong-number-one-question-asked-since-the-pandemic-the-new-pattern-continues-the-message-from-the-naaim-indicator-wall-the-trend-is-your-friend-sell-in-may-and-go/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. "Speaks" is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [April Edition: All Good News, But... | Tech Back in Vogue | A New Pattern Has Developed | Problems In The Fundamentals | Things Are Looking Up | A Tale of Two Tapes | No Roadblocks On The Horizon](https://naaim.org/april-edition-all-good-news-but-tech-back-in-vogue-a-new-pattern-has-developed-problems-in-the-fundamentals-things-are-looking-up-a-tale-of-two-tapes-no-roadblocks-on-the-horizon/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. "Speaks" is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [March 2021 Edition: An Interest(ing) Development | Buying Weakness Remains The Play | Building A Transition Portfolio | Are Stocks Going Down the Inflation Rabbit Hole? | A Temporary Headwind? | Pullbacks are Just Part of the Game | The Song Remains The Same | Following The Discipline](https://naaim.org/an-interesting-development-buying-weakness-remains-the-play-building-a-transition-portfolio-are-stocks-going-down-the-inflation-rabbit-hole-a-temporary-headwind-pullbacks-are-just-part-o/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. "Speaks" is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [Is The Reddit Rebellion Here To Stay? | Am I Wrong? | Does the Reddit Rebellion Threaten Investor Portfolios? | Getting Close To a Top | The Trend Is Still Your Friend | Gaming The System | Risk is Rising | Risk-Reward Ratio is Falling | Managers Took Some Chips Off The Table](https://naaim.org/is-the-reddit-rebellion-here-to-stay-am-i-wrong-does-the-reddit-rebellion-threaten-investor-portfolios-getting-close-to-a-top-the-trend-is-still-your-friend-gaming-the-system-risk-is-ri/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. "Speaks" is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to - [Changes Are Afoot in the New Year | How Stocks Fare on Inauguration Day and Beyond | What Will Biden Proposals Mean for Investors? | Quite a Ride | Uptrend Remains Intact | Small is the New Big | Time For A Pullback? | Staying Bullish For Now | Active Managers Riding Bull Train](https://naaim.org/changes-are-afoot-in-the-new-year-how-stocks-fare-on-inauguration-day-and-beyond-what-will-biden-proposals-mean-for-investors-quite-a-ride-uptrend-remains-intact-small-is-the-new-big-time/) - NAAIM Speaks is monthly newsletter containing market insights and analysis from NAAIM member firms. "Speaks" is designed to provide a plethora of market analysis, indicators, some occasional humor, as well as a summary of NAAIM's proprietary Dynamic Asset Allocation Model and Managers Exposure Index. The report is for informational uses only and is not to ## Pages - [NAAIM Home](https://naaim.org/) - Rely on NAAIM's expert investment advisors to boost your portfolio with premier software, ensuring wealth growth, higher profits, and debt-free financial success. - [NAAIM Dynamic Asset Allocation Model](https://naaim.org/programs/dynamic-asset-allocation-model/) - NAAIM Dynamic Asset Allocation ModelBelow is an example of how one might incorporate the indicator boards. Below is an example of how one might incorporate the indicator boards. The approach shown below is designed to provide the current equity allocation for a balanced tactical asset allocation model with a base target of 60/40 stocks/bonds. The - [NAAIM Exposure Index](https://naaim.org/programs/naaim-exposure-index/) - NAAIM Exposure IndexThe NAAIM Exposure Index represents the average exposure to US Equity markets reported by our members. Effective August 1, 2026, the NAAIM Exposure Index has transitioned to a subscription-based access model. The NAAIM Exposure Index reflects the average U.S. equity market exposure reported weekly by active investment managers who are members of NAAIM. - [NAAIM Exposure Index FAQs](https://naaim.org/programs/naaim-exposure-index/faqs/) - NAAIM Exposure Index FAQsFrequently Asked Questions Login & AccessSubscribeBecome a MemberCurrent NAAIM Members: Your complimentary access is not changing. Simply continue to log in using your member password. The new subscription service applies only to non-members.The NAAIM Exposure Index – Frequently Asked Questions What is the NAAIM Exposure Index?The NAAIM Exposure Index is a weekly - [Membership](https://naaim.org/join-naaim/) - MembershipBoost Your Investment Expertise and Business Growth with Membership in NAAIM Elevate Your Investment Journey with NAAIMBy joining the National Association of Active Investment Managers (NAAIM), you’re not just gaining membership in an organization; you’re gaining access to a powerful network of industry leaders dedicated to pushing the boundaries of investment management. Before you become - [The Active Manager Newsletter](https://naaim.org/programs/the-active-manager-newsletter/) - The Active Manager NewsletterThe Active Manager Newsletter is published at quarterly intervals and features articles of interest to active managers. THE ACTIVE MANAGER NEWSLETTER - JULY 2026 |The Active Manager Newsletter is published at quarterly intervals and features articles of interest to active managers. The newsletter is distributed free of charge via email and posted - [Outlook Conference Landing Page](https://naaim.org/outlook-lp/) - Facebook X-twitter Youtube Linkedin Register > View Conference Agenda Sunday, October 25 3:00 – 6 PM NASAA CE Credit – Ethics and Professional Responsibilities: Ryan Redfern, Shadowridge Asset Management, LLC 6:00 PM NAAIM Board Meeting 7:30 PM Meet in Hotel Lounge for a nightcap and your first drink is on NAAIM! Monday, October 26 7:30 - [Membership Benefits](https://naaim.org/join-naaim/membership-benefits/) - Membership BenefitsJoin the Essential Platform for Investment Managers, Ignite Your Knowledge, and Thrive in the Dynamic World of Active Investment Management. Offered exclusively by NAAIM:1. Member Discounts for the Uncommon Knowledge – National Conference The nation’s preeminent conference for the Active Investment Manager, held for over 35 years Typically held at the end of April/beginning - [Become A Member](https://naaim.org/join-naaim/become-a-member/) - Become A MemberElevate Your Investment Journey with NAAIM: Where Opportunities Abound. Joining the National Association of Active Investment Managers (NAAIM) offers investment managers valuable benefits, including access to cutting-edge insights through live webcasts and recorded webinars, participation in premier conferences like Uncommon Knowledge®, opportunities for peer-to-peer exchanges and collaboration at Outlook conferences, and eligibility for - [Uncommon Knowledge National Conference](https://naaim.org/events/uncommon-knowledge-national-conference/) - Uncommon Knowledge National ConferenceUncommon Knowledge® is the nation’s preeminent conference for the Active Investment Manager. 2025 Conference - Learn More & Register Uncommon Knowledge 2027Uncommon Knowledge® stands as the premier conference for Active Investment Managers, boasting over 36 years of expertise, featuring diverse speakers, networking, and a wealth of information on trading techniques, risk management, investment - [Outlook Conference](https://naaim.org/outlook/) - Outlook ConferenceNAAIM Outlook Conferences: Unveiling Tomorrow’s Success Today October 26 & 27, 2026Outlook 2026NAAIM’s Outlook conferences tackle current issues for active managers, covering market catalysts, trading strategies, compliance, marketing, and more, fostering peer-to-peer exchanges and collaboration to address challenges and promote the success and growth of attendee firms. October 26 & 27 at The Westin - [Sitemap](https://naaim.org/sitemap/) - About Board of Directors Bylaws and Policies Committees Contact Us The Case for Active Management NAAIM Founders Award Events Event Calendar NAAIM Shark Tank Outlook Conference Regional Meetings Uncommon Knowledge National Conference Webinars Home Membership Become A Member Member Directory Member Log In Membership Benefits NAAIM Community NAAIM Membership Types News Photo Gallery Regional Chapters - [Find a Whitepaper](https://naaim.org/programs/find-a-whitepaper/) - Find a WhitepaperSearch for NAAIM Founders Award Papers Search for NAAIM Founders Award competition papers by entering keyword(s) and the year in the fields below. You may request a maximum of 3 to be emailed to you per calendar year by checking the box next to each whitepaper. Please allow 3-5 business days for your - [NAAIM Founders Award](https://naaim.org/programs/naaim-founders-award/) - NAAIM Founders AwardNAAIM members have always believed active is better. This competition is designed to support this position through sound research and shine the spotlight on those individuals advancing this field of study. Launched in 2009, the NAAIM Founders Award is designed to expand awareness of active investment management techniques and the results of active - [Committees](https://naaim.org/about/committees/) - CommitteesCommittee Engagement: Your Input, Your Impact Agenda CommitteePaul Schatz (203) 389-3553The Agenda Committee plans the NAAIM annual Uncommon Knowledge conference and Outlook Conference, including speakers, agenda, golf and all social events and the Shark Tank Competition. Marketing CommitteeMatt Spangler (405) 509-2553The Marketing Committee objective is to promote membership in NAAIM through recruitment of new members - [Uncommon Knowledge Conference](https://naaim.org/uncommon-knowledge-conference-2026/) - Westin Tampa Waterside Tampa, FL MEMBER ONLY $1,490 Per Person Non-member pricing: $1,695. Become A Member Register Here Book Hotel View Agenda Arrive Early – Events – Sunday, April 26 NAAIM Golf TournamentPickle Ball TournamentSolo Advisor MeetingNAAIM Welcome Party Powered by our Speakers Ed Clissold, CFA Ned Davis Research Dean Christians Turning Point Market Research Draye - [About](https://naaim.org/about/) - NAAIM defines "active investment management services" as taking an active role in the ongoing process of investment selection and risk management with the objective of improving a portfolio's risk/reward relationship. - [Be A Sponsor](https://naaim.org/sponsorship/be-a-sponsor/) - Be A SponsorFuel NAAIM’s Growth – Sponsor, Renew, or Upgrade Today! Elevate your brand and connect with a rapidly expanding community of Active Investment Managers. Don’t miss the opportunity to showcase your firm through sponsored webinars, homepage features, and interactive content. Join us in shaping the future of active investment management in 2026 and beyond! - [NAAIM Events](https://naaim.org/events/) - NAAIM EventsElevating Investment Management with Valuable Insights and Powerful Connections Uncommon Knowledge® ConferenceUnleashing Wisdom, Unveiling Success – Where Active Investment Managers Thrive with 35+ Years of Expertise, Dynamic Speakers, and Invaluable Insights into Trading, Risk Management, Strategies, Technology, and Marketing Excellence. April 27-29, 2026 The Westin Tampa Waterside, Tampa, FL Learn MoreOutlook ConferenceUnveiling Tomorrow’s Success - [Associate Membership](https://naaim.org/sponsorship/associate-membership/) - Associate MembershipMany of our sponsors often find that joining NAAIM provides benefits all year long. Many of our sponsors often find that joining NAAIM provides benefits all year long. Associate Membership is defined as: Companies and Individuals offering investment vehicles, products and services used by active investment managers. This includes fund companies, market analytics, custodians, - [Active Management Resources](https://naaim.org/programs/active-management-library/) - Active Management ResourcesThis is a listing of some of the many resources that NAAIM members can use to educate themselves about Active Investment Management. This is a listing of some of the many resources that NAAIM members can use to educate themselves about Active Investment Management. If you’re a NAAIM member, login and go to - [Sponsor Listing](https://naaim.org/sponsorship/sponsorship-listings/) - Sponsor ListingPlatinum SponsorsGold SponsorsSilver SponsorsInnovations SponsorsBe A Sponsor Associate Membership NAAIM Sponsors Join NowGet NAAIM News - [Uncommon Knowledge Conference](https://naaim.org/uncommon-knowledge-conference/) - Uncommon Knowledge Conference The Westin South Coast Plaza May 5-7 2025 Register now: Only $1,445 Per Person | members only Non-member pricing: $1,595 View conference Agenda Register Here Book Hotel View conference Agenda Uncommon Knowledge Conference Register Now: Only $1,495 Per Person | members only Non-member pricing: $1,595 View conference Agenda Register Here The - [Sponsors](https://naaim.org/sponsorship/) - SponsorsGet involved with NAAIM as an organization providing professional services to NAAIM members. NAAIM continues to grow its membership base. The majority of our members are Registered Investment Advisors that use active investment management in their practice. These wealth managers collectively manage over $22 billion in AUM and are joining NAAIM to network with other - [Outlook Conference Thank You Page](https://naaim.org/thank-you/) - You're all signed up for Outlook Conference 2024! A confirmation has been sent to the email you registered with. Conference ticket When: October 28 - 29, 2024 Where: Hyatt Regency DFW International Airport Book Your Hotel Here Return to registration page October 28-29, 2024 Hyatt Regency DFW International Airport To make your hotel reservation visit: - [Contact Us](https://naaim.org/about/contact-us/) - Contact Us6732 W. Coal Mine Ave. #446 Littleton, CO 80123888.261.0787720-749-1367Please use the following form to contact NAAIM. Name(Required) First Last Company Name(Required)Email(Required) Phone NumberYour Message(Required) Submit Board of Directors Committees Bylaws and Policies Contact Us Join NowGet NAAIM News - [Programs](https://naaim.org/programs/) - ProgramsElevating Managers, Building Success, and Cultivating Leaders in the Dynamic World of Active Investment Management. As an organization, NAAIM engages in numerous activities to promote active management and further the professional development of its members, by acquiring, preserving, and disseminating valuable information through programs such as our annual Founders Award Paper Writing Competition, the Exposure - [Find An Active Manager](https://naaim.org/find-an-advisor/) - Were you seeking expert investment management? Find your ideal advisor at NAAIM. Navigate your financial journey with confidence and personalized advice. - [Bylaws and Policies](https://naaim.org/about/naaim-bylaws/) - Bylaws and PoliciesNAAIM BylawsCode of EthicsFair Practices PolicyBoard of Directors Committees Bylaws and Policies Contact Us Join NowGet NAAIM News - [NAAIM Active Investing Strategy Competition](https://naaim.org/programs/naaim-shark-tank-2/) - [Webinars](https://naaim.org/events/webinars/) - WebinarsNAAIM Webcasts: Empowering Active Investment Minds Anytime, Anywhere NAAIM provides members with live webcasts and recorded webinars, fostering interactive learning in an on-demand format, allowing advisors to expand their Active Investment Knowledge at their own pace, with several courses offering continuing education credit for Certified Financial Planner® Professionals. See below or VIEW OUR CALENDAR for - [Board of Directors](https://naaim.org/about/board-of-directors/) - Find out more about the NAAIM's board of directors. - [Thank You](https://naaim.org/programs/find-a-whitepaper/thank-you/) - Thank you for requesting copies of our whitepapers. Someone will send the papers to the email address you provided shortly. - [GrowthZone Template #growthzone_heading#](https://naaim.org/template-growthzone/) - GrowthZone Template #growthzone_heading##growthzone_content# - [GrowthZone Template #growthzone_heading#](https://naaim.org/growthzone-template/) - GrowthZone Template #growthzone_heading##growthzone_content# - [NAAIM News](https://naaim.org/naaim-newsletter/) - NAAIM NewsStay Ahead with NAAIM News: Your Source for Timely Updates and Announcements on Investment Management Programs and Events. Register for NAAIM News to receive crucial program updates and exclusive invitations conferences. #growthzone_content# - [Submit Indicator](https://naaim.org/submit-indicator/) - Submit IndicatorUse the form below to submit updated NAAIM Indicator data. Submit NAAIM Indicator Name(Required) First Last Email(Required) Indicator Type(Required)Early Warning IndicatorsFundamental Factor IndicatorsKey Price LevelsMarket Momentum IndicatorsNAAIM Dynamic Asset Allocation ModelPrimary Cycle ModelsTrend AnalysisPost Image(Required)Accepted file types: jpg, jpeg, png, gif.Post Body Submit - [News](https://naaim.org/join-naaim/news/) - NewsNAAIM has a variety of ways to keep up with the association or when the association is mentioned in the news media. NAAIM has a variety of ways to keep up with the association or when the association is mentioned in the news media. NAAIM Speaks | Market InsightsJuly 2026: Constructive Resilience | More Downside - [Press Contacts](https://naaim.org/newsresources/press-contacts/) - Press ContactsMembers of the National Association of Active Investment Managers (NAAIM) are available Members of the National Association of Active Investment Managers (NAAIM) are available to provide the perspective of the active manager on a host of news topics, including the following: The need for active management to manage risk and enhance risk-adjusted returns The - [acf](https://naaim.org/acf/) - [ecs-list-events design="calendar"] Oops! We could not locate your form. Download - [Global Fund Forum](https://naaim.org/global-fund-forum/) - October 16-18, Fairmont Southampton, Bermuda The Ultimate Networking and Relationship Building Event Now in its fourth year, Global Fund Forum is the highlight of the year for Hedge Connection. Over three days, the alternatives industry will gather at the beautiful Fairmont Southampton in Bermuda to network with peers, learn from experts and effectively connect - [NAAIM Speaks](https://naaim.org/newsresources/naaim-blog/) - [The Case for Active Management](https://naaim.org/about/the-case-for-active-management/) - Active Managers Don’t Have to be 100% Right Studies of market indices over the past 70 years show that active managers can actually be on the wrong side of the market nearly 40% of the time and still equal a buy-and-hold return. In other words, the manager could miss 20% of a major up move in the - [Press Releases](https://naaim.org/newsresources/press-releases/) ## Directors - [Asher Rogovy](https://naaim.org/directors/asher-rogovy/) - Magnifina (800) 732-0818 - [Ryan Redfern](https://naaim.org/directors/ryan-redfern/) - 13NAAIM Chairman Shadowridge Asset Management, LLC (512) 689-5512 - [Jim Lee, CFA, CMT, CFP®](https://naaim.org/directors/jim-lee-cfa-cmt-cfp/) - StratFI (302) 884-6742 - [Joshua Kneller](https://naaim.org/directors/joshua-kneller/) - Atlas Capital Management (260) 637-2857 - [Brad Hartman](https://naaim.org/directors/brad-hartman/) - Hartman Financial Planning (888) 367-8466 - [Robert Hanna](https://naaim.org/directors/robert-hanna/) - Capital Advisors 360 (781) 956-6952 - [Jacob Deschenes](https://naaim.org/directors/jacob-deschenes/) - Era Capital Management (509) 559-6229 - [Robert Bernstein](https://naaim.org/directors/robert-bernstein/) - RGB Capital Group (858) 367-5200 - [Paul Schatz](https://naaim.org/directors/paul-schatz/) - NAAIM Treasurer Heritage Capital, LLC (203) 389-3553 - [Chad Henry](https://naaim.org/directors/chad-henry/) - NAAIM Secretary ForthRight Financial Planning (224) 239-1622 - [Whitney Ribbens](https://naaim.org/directors/whitney-ribbens/) - NAAIM Vice President Chicago Wealth Management, Inc. (312) 376-8350 - [Ron Rough](https://naaim.org/directors/ron-rough/) - NAAIM President Financial Services Advisory, Inc. (301) 949-7300 - [Barry Arnold](https://naaim.org/directors/barry-arnold/) - NAAIM Chairman Global View Capital Management (262) 349-0647 - [Jim Bernstein](https://naaim.org/directors/jim-bernstein/) - QEX Asset Management (609) 933-4247 - [Matt Spangler](https://naaim.org/directors/matt-spangler/) - Signal Research Group, LLC (405) 509-2553 ## Sponsors - [Guggenheim](https://naaim.org/sponsors/guggenheim-investments/) - For more than 25 years, investors have relied on Rydex funds to help them express their market conviction using beta allocations. Our proven expertise in benchmark replication (or beta exposure) includes sector strategies and broad market benchmarks, as well as lever­aged and inverse exposure. Investors seeking to include specific market exposures in their portfolios can - [Swan Global Investments](https://naaim.org/sponsors/swan-global-investments/) - Leaders in Options Strategies - Dedicated to Helping Investors Grow and Protect Wealth. As an innovative asset manager specializing in options strategies, we’ve been helping investors navigate uncertainty to achieve their long-term goals since 1997. 1) Hedged Equity – Our distinct approach combines the return potential of equity markets with the risk mitigation power of - [TappAlpha](https://naaim.org/sponsors/tappalpha/) - TappAlpha is helping define the Growth + Income category through disciplined, rules-based overlays on the world’s most trusted benchmarks. By combining innovation with simplicity, the firm builds solutions designed to unlock income potential and support long-term portfolio outcomes. Founded in 2023, TappAlpha is committed to making investing simple, actionable, and transparent for everyday investors and - [Global X ETFs](https://naaim.org/sponsors/global-x-etfs/) - Global X is an innovative ETF issuer offering over 100 funds with more than $90b in AUM. We are best known for our thematic line-up of ETFs followed by our non-traditional income suite of funds. To Learn More Visit: Global X ETFs - [Infrastructure Capital Advisors, LLC](https://naaim.org/sponsors/infrastructure-capital-advisors-llc/) - Led by Jay Hatfield, CIO and CEO, Infrastructure Capital Advisors (ICA) is a boutique asset management firm with over $3bn in AUM across ETFs and private accounts. Providing solutions for income-focused investors is a primary objective of our investing activities. We are long-term investors seeking to maximize returns over full market cycles. As such, we generally - [Addigence](https://naaim.org/sponsors/addigence/) - Addigence is an SMA-based investment manager marketplace that enables a seamless capital allocation between qualified allocators and licensed portfolio managers. Our platform offers performance fee harvesting, real-time analytics, track-record creation, SMAs for both managers and allocators, and risk management AI to monitor style drift and strategy adherence. To learn more visit: Addigence.com - [AXOS Advisor Services](https://naaim.org/sponsors/axos-advisor-services/) - AXOS Advisor Services is an RIA custodian that delivers individualized attention, intuitive technology, and knowledgeable consulting support you need to take your business to the next level and beyond. Learn more at: AXOS Advisor Services - [Hull Tactical](https://naaim.org/sponsors/hull-tactical/) - Hull Tactical is a quantitative investment management firm specializing in tactical asset allocation and advanced statistical modeling. The firm combines macroeconomic analysis, market sentiment, machine learning, and fundamental data to forecast U.S. equity market returns. Hull Tactical manages the Hull Tactical US ETF (HTUS), an actively managed exchange-traded fund designed to provide exposure to the - [Tradr ETFs](https://naaim.org/sponsors/tradr-etfs/) - Tradr ETFs is an ETF provider committed to offering precise leveraged strategies to traders, self-directed investors and professional money managers. We believe leverage can be a powerful tool to express a high-conviction view on single stocks or broad markets, and we are obsessed with finding creative ways to help investors maximize their potential outcomes. The - [Direxion](https://naaim.org/sponsors/direxion-funds/) - Direxion builds products for investors who want more than the status quo. Our index-based products deliver directional options, magnified exposure, and long-term, rules-based strategies. Founded in 1997, the company has approximately $47 billion in assets under management as of December 31, 2024. Direxion has 4 offices in the U.S. and Hong Kong. Direxion specializes in - [ProFunds/ProShares](https://naaim.org/sponsors/profunds-proshares/) - ProShares and its affiliates have been at the forefront of the indexing revolution since 1997. ProShares offers one of the largest lineups of ETFs, with over $70 billion in assets. The company is a leader in strategies including crypto-linked, dividend growth, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to - [MassMutual Wealth Management](https://naaim.org/sponsors/massmutual-wealth-management/) - Since 1852, MassMutual has been a trusted partner in helping people secure their financial future and protect the ones they love. Beyond the broad insurance and DCIO capabilities, MassMutual Wealth Management provides a full suite of Investment solutions leveraging institutional and boutique asset managers to deliver unique investment solutions. Our Fixed Income solutions are founded ## Active Managers - [Michael Thornton](https://naaim.org/managers/michael-thornton/) - [Travis Bunn](https://naaim.org/managers/travis-bunn/) - [Eduard Hamamjian](https://naaim.org/managers/eduard-hamamjian/) - [Joseph Teurlings](https://naaim.org/managers/joseph-teurlings/) - [Leigh Eichel](https://naaim.org/managers/leigh-eichel/) - [Benjamin Fox](https://naaim.org/managers/len-fox/) - [Jerry Wagner](https://naaim.org/managers/jerry-wagner-2/) - [Craig Thompson](https://naaim.org/managers/craig-thompson/) - [David Margulies](https://naaim.org/managers/david-margulies/) - [Chris Cordle](https://naaim.org/managers/chris-cordle/) - [Jacob Deschenes](https://naaim.org/managers/era-capital-management-llc/) - [Michael Cutbirth](https://naaim.org/managers/michael-cutbirth/) - [Ryan Gorman](https://naaim.org/managers/ryan-gorman/) - [Walter Reyna](https://naaim.org/managers/walter-reyna/) - [John Reutemann, Jr.](https://naaim.org/managers/john-reutemann-jr/) - [Sanjay Wagle](https://naaim.org/managers/sanjay-wagle/) - [Chris Miller](https://naaim.org/managers/chris-miller/) - [Charles W. Robinson III](https://naaim.org/managers/charles-w-robinson-iii/) - [Adam Quiring](https://naaim.org/managers/adam-quiring/) - [Bryan Smarch](https://naaim.org/managers/bryan-smarch/) - [Craig Starr](https://naaim.org/managers/craig-starr/) - [Theodore Hicks II](https://naaim.org/managers/theodore-hicks-ii/) - [Craig Grover](https://naaim.org/managers/craig-grover/) - [Vivek "Vic" Verma](https://naaim.org/managers/vivek-vic-verma/) - [Danielle Helfrich](https://naaim.org/managers/danielle-helfrich/) - [Stephen Tock](https://naaim.org/managers/stephen-tock/) - [Keith Gregory](https://naaim.org/managers/keith-gregory/) - [Kean Amaral](https://naaim.org/managers/kean-amaral/) - [Gregory Corneille](https://naaim.org/managers/gregory-corneille/) - [Al Beam](https://naaim.org/managers/al-beam/) - [Dave Wagner](https://naaim.org/managers/dave-wagner/) - [George Lollis](https://naaim.org/managers/george-lollis/) - [Brad Hartman](https://naaim.org/managers/hartman-financial-planning/) - [Richard Barton](https://naaim.org/managers/richard-barton/) - [Timothy Schwister](https://naaim.org/managers/17794/) - [Chad Karnes](https://naaim.org/managers/chad-karnes/) - [Nathan Bremer](https://naaim.org/managers/nathan-bremer/) - [Jim Bernstein](https://naaim.org/managers/jim-bernstein/) - [Glenn Stears](https://naaim.org/managers/glenn-stears/) - [Jason Erickson](https://naaim.org/managers/jason-erickson/) - [Paul Culbreth](https://naaim.org/managers/paul-culbreth/) - [John Rothe](https://naaim.org/managers/john-rothe/) - [James Lee](https://naaim.org/managers/james-lee/) - [Michael Lopiansky](https://naaim.org/managers/michael-lopiansky/) - [Buff Dormeier](https://naaim.org/managers/buff-dormeier/) - [David Taucher](https://naaim.org/managers/david-taucher/) - [Kristen McCullough](https://naaim.org/managers/11663/) - [Christian Ramsey](https://naaim.org/managers/christian-ramsey/) - [Kent Owings](https://naaim.org/managers/11737/) - [Asher Rogovy](https://naaim.org/managers/asher-rogovy/) - [Raymond Rondeau](https://naaim.org/managers/raymond-rondeau/) - [Donald Allenbrand, CWS®, RFC®, CPA](https://naaim.org/managers/donald-allenbrand-cws-rfc-cpa/) - [Branden DuCharme](https://naaim.org/managers/branden-ducharme/) - [David Wilhite](https://naaim.org/managers/david-wilhite/) - [Bruce DeLaurentis](https://naaim.org/managers/kensington-analytics-llc/) - [Mark Trice](https://naaim.org/managers/mark-trice/) - [Douglas Roberts](https://naaim.org/managers/channel-capital-management-llc/) - [Eduardus Christmas](https://naaim.org/managers/eduardus-christmas/) - [Jeff Vieth](https://naaim.org/managers/jeff-vieth/) - [Dave Moenning](https://naaim.org/managers/dave-moenning/) - [John Worthington](https://naaim.org/managers/daubleworthington-equity-portfolios/) - [Brian Kasal](https://naaim.org/managers/brian-kasal/) - [Steve Williamson](https://naaim.org/managers/steve-williamson/) - [Robert Bernstein](https://naaim.org/managers/robert-bernstein/) - [Matt Spangler](https://naaim.org/managers/matt-spangler/) - [Ben Reppond](https://naaim.org/managers/ben-reppond/) - [John McClure](https://naaim.org/managers/john-mcclure/) - [Dina Fliss](https://naaim.org/managers/dina-fliss/) - [Ronald Rough](https://naaim.org/managers/ronald-rough/) - [Christopher Much](https://naaim.org/managers/christopher-much/) - [Ryan Redfern](https://naaim.org/managers/shadowridge-asset-management-llc/) - [Adam Koos](https://naaim.org/managers/libertas-wealth-management/) - [Jeffrey Cribbs](https://naaim.org/managers/chicago-wealth-management-inc/) - [Victor Vuskalns](https://naaim.org/managers/victor-vuskalns/) - [Brian Carruthers](https://naaim.org/managers/brian-carruthers/) - [Jerry Jacobs](https://naaim.org/managers/jerry-jacobs/) - [Charles Falco](https://naaim.org/managers/charles-falco/) - [James Fydroski](https://naaim.org/managers/james-fydroski/) - [Lawrence McMillan](https://naaim.org/managers/lawrence-mcmillan/) - [Art Molloy](https://naaim.org/managers/art-molloy/) - [Mike Jones](https://naaim.org/managers/mike-jones/) - [David Jajewski](https://naaim.org/managers/david-jajewski/) - [Bo Bills](https://naaim.org/managers/bo-bills/) - [Paul Schatz](https://naaim.org/managers/paul-schatz/) - [David Wright](https://naaim.org/managers/david-wright/) ## Galleries - [Recent Events](https://naaim.org/gallery/recent-events/) ## Indicators - [NAAIM Dynamic Asset Allocation Model](https://naaim.org/indicator/sample-exposure-index/) - The NAAIM Dynamic Allocation Model: 8/10/2026 Below is an example of how one might incorporate the indicator boards. The approach shown below is designed to provide the current equity allocation for a balanced tactical asset allocation model with a base target of 60/40 stocks/bonds. The overall intent of the model is to keep equity exposure - [Fundamental Factor Indicators](https://naaim.org/indicator/external-indicators/) - Fundamental Factor Indicators: 8/10/2026 Below is a summary of key external factors that have been known to drive stock prices on a long-term basis. Additional Valuation Metrics: GAAP P/E Ratio (Monthly Data) as of 7/31/26: 25.79 25-year Average: 26.3 50-year Average: 21.4 Average from 3/31/1926: 17.9 NDR Valuation Model (Monthly Data) as of 7/31/26: 26.6 - [Early Warning Indicators](https://naaim.org/indicator/early-warning-indicators/) - Early Warning Indicators: 8/10/2026 Below is a summary of key early warning indicators, which are designed to suggest when the market may be ripe for a reversal on a short-term basis. - [Market Momentum Indicators](https://naaim.org/indicator/momentum-indicators/) - Market Momentum Indicators: 8/10/2026 Below is a summary of key internal momentum indicators, which help determine if there is any "oomph" behind a move in the market. - [Key Price Levels](https://naaim.org/indicator/key-price-levels/) - Key Price Levels: 8/10/2026 S&P 500 Near-Term Support Zone: 7610 S&P 500 Near-Term Resistance Zone: NA S&P 500 50-day Simple MA: 7494 MA Direction: Flat S&P 500 200-day Simple MA: 7050 MA Direction: Rising - [Trend Analysis](https://naaim.org/indicator/trend-indicators/) - Trend Analysis: 8/10/2026 Below are the ratings of key price indicators. This board of indicators is designed to tell us about the overall technical health of the market's trend. - [Primary Cycle Models](https://naaim.org/indicator/primary-cycle-models/) - Primary Cycle Models: 8/10/2026 Below is a group of big-picture market models, each of which is designed to identify the state of the primary cycle of the stock market. ## Whitepapers - [The Synergy of Tactical Asset Management and Defined Outcome ETFs: A Quantitative and Behavioral Framework for Goal-Based Investors (2026-00J)](https://naaim.org/whitepaper/the-synergy-of-tactical-asset-management-and-defined-outcome-etfs-a-quantitative-and-behavioral-framework-for-goal-based-investors-2026-00j/) - [The Four Things Investors Want Most (2026-00I)](https://naaim.org/whitepaper/the-four-things-investors-want-most-2026-00i/) - [Trend Scoring-Assigning an Overall Technical Score to any Instrument Across Multiple Frames (2026-00H)](https://naaim.org/whitepaper/trend-scoring-assigning-an-overall-technical-score-to-any-instrument-across-multiple-frames-2026-00h/) - [Stationary, But Not Profitalble? A Critical Look at Pairs Trading (2026-00G - First Place)](https://naaim.org/whitepaper/stationary-but-not-profitalble-a-critical-look-at-pairs-trading-2026-00g-first-place/) - [Combining Market Timing Signals (2026-00F)](https://naaim.org/whitepaper/combining-market-timing-signals-2026-00f/) - [The Unified Quant Frontier (2026-00E)](https://naaim.org/whitepaper/the-unified-quant-frontier-2026-00e/) - [The Ultimate Hedge for a Multi-Asset Portfolio using Gold and Momentum Factor (2026-00D)](https://naaim.org/whitepaper/the-ultimate-hedge-for-a-multi-asset-portfolio-using-gold-and-momentum-factor-2026-00d/) - [Measure Risk, Invest Accordingly (2026-00C)](https://naaim.org/whitepaper/measure-risk-invest-accordingly-2026-00c/) - [The Logic of Wealth: A Computational Intelligence Framework for Portfolio Construction and Dynamic Asset Allocation (2026-00A)](https://naaim.org/whitepaper/the-logic-of-wealth-a-computational-intelligence-framework-for-portfolio-construction-and-dynamic-asset-allocation/) - [Set It and Forget It: Engineering Investment Habits with FinTech (2026-00B)](https://naaim.org/whitepaper/set-it-and-forget-it-engineering-investment-habits-with-fintech/) - [The Path of the Monarch, Capital Flows: A Sovereign Guide to Sector Rotation (2025-00A)](https://naaim.org/whitepaper/the-path-of-the-monarch-capital-flows-a-sovereign-guide-to-sector-rotation-2025-00a/) - [Market Geometry & Inflexion Point Forecasting (2025-00B)](https://naaim.org/whitepaper/market-geometry-inflexion-point-forecasting-2025-00b/) - [Using Variable Leverage in a Mean Reversion Trading Strategy (2025-00C)](https://naaim.org/whitepaper/using-variable-leverage-in-a-mean-reversion-trading-strategy-2025-00c/) - [Application of Genetic Algorithms to the Asset Allocaiton of an ETF Portfolio (2025-00D)](https://naaim.org/whitepaper/application-of-genetic-algorithms-to-the-asset-allocaiton-of-an-etf-portfolio-2025-00d/) - [Monetary Policy Predicts Currency Movements (2025-00E)](https://naaim.org/whitepaper/monetary-policy-predicts-currency-movements-2025-00e/) - [Trend-Emotion-Timing (2025-00F | First Place)](https://naaim.org/whitepaper/trend-emotion-timing-2025-00f-first-place/) - [Leveraged, Long, Flat or Short? Geared Index (Strategy) Efficiency and Systematic Positioning from Bull Bear Regime Probabilities (2025-00G)](https://naaim.org/whitepaper/leveraged-long-flat-or-short-geared-index-strategy-efficiency-and-systematic-positioning-from-bull-bear-regime-probabilities-2025-00g/) - [Goal-Oriented Active Portfolio Management Through Transformer-Based Reinforcement Learning (2024-00M | Third Place)](https://naaim.org/whitepaper/goal-oriented-active-portfolio-management-through-transformer-based-reinforcement-learning-2024-00m/) - [Asset Pricing with Panel Trees Under Global Split Criteria (2022-G)](https://naaim.org/whitepaper/asset-pricing-with-panel-trees-under-global-split-criteria-2022-g/) - [The Rise of Factor Investing: “Passive” Security Design and Market Implications (2024-00G)](https://naaim.org/whitepaper/the-rise-of-factor-investing-passive-security-design-and-market-implications-2024-g/) - [Volume Factor Momentum (2024-00H | Second Place)](https://naaim.org/whitepaper/volume-factor-momentum-2024-00g-second-place/) - [Impact of Institutional Owners on Housing Markets∗ (2024-00L)](https://naaim.org/whitepaper/impact-of-institutional-owners-on-housing-markets∗-2024-00l/) - [Style Analysis in Alternative Investments (2024-00K)](https://naaim.org/whitepaper/style-analysis-in-alternative-investments-2024-00k/) - [Narrative Attention Pricing (2024-00J)](https://naaim.org/whitepaper/narrative-attention-pricing-2024-00j/) - [Chicken and Egg: Should you use the VIX to time the SPX? Or use the SPX to time the VIX? (2024-00I | First Place)](https://naaim.org/whitepaper/chicken-and-egg-should-you-use-the-vix-to-time-the-spx-or-use-the-spx-to-time-the-vix-2024-00i-first-place/) - [What performance measures do investors chase? Evidence from Real Estate Mutual Funds (2024-00F)](https://naaim.org/whitepaper/what-performance-measures-do-investors-chase-evidence-from-real-estate-mutual-funds-2024-00f/) - [Beyond Traditional Investing: AI-Driven Strategy for Uncertain Times (2024-00E)](https://naaim.org/whitepaper/beyond-traditional-investing-ai-driven-strategy-for-uncertain-times-2024-00e/) - [Development of Successful Artificial Intelligent (AI) Codes (2024-00D)](https://naaim.org/whitepaper/development-of-successful-artificial-intelligent-ai-codes-2024-00d/) - [Growing the Efficient Frontier on Panel Trees (2024-00C)](https://naaim.org/whitepaper/growing-the-efficient-frontier-on-panel-trees-2024-00c/) - [Book-to-Market, Mispricing, and the Cross-Section of Corporate Bond Returns (2024-00B)](https://naaim.org/whitepaper/book-to-market-mispricing-and-the-cross-section-of-corporate-bond-returns-2024-00b/) - [Smart Swings Systematic Market Structures (2024-00A)](https://naaim.org/whitepaper/smart-swings-systematic-market-structures-2024-00a/) - [The Right Track--A Fast Horse (2021-S)](https://naaim.org/whitepaper/the-right-track-a-fast-horse-2021-00s/) - [Are stock-market anomalies anomalous after all? (2021-R)](https://naaim.org/whitepaper/are-stock-market-anomalies-anomalous-after-all-2021-00r/) - [A picture is worth a thousand words: Measuring investor sentiment by combining machine learning and photos from news (2021-Q)](https://naaim.org/whitepaper/a-picture-is-worth-a-thousand-words-measuring-investor-sentiment-by-combining-machine-learning-and-photos-from-news-2021-00q/) - [Changing Expected Returns Can Induce Spurious Serial Correlation (2021-P)](https://naaim.org/whitepaper/changing-expected-returns-can-induce-spurious-serial-correlation-2021-p/) - [An AI model of equity market crashes for tactical allocation (2021-O)](https://naaim.org/whitepaper/an-ai-model-of-equity-market-crashes-for-tactical-allocation-2021-o/) - [Active Permanent Portfolio Fund - Dynamic Asset Allocation Determined by Multi Equity Control System (2021-N)](https://naaim.org/whitepaper/active-permanent-portfolio-fund-dynamic-asset-allocation-determined-by-multi-equity-control-system-2021-n/) - [Following Insiders (2021-M)](https://naaim.org/whitepaper/following-insiders-2021-m/) - [LEI, Momentum, Treasuries, Forward Looking (2021-L)](https://naaim.org/whitepaper/lei-momentum-treasuries-forward-looking-2021-l/) - [Do economic variables forecast commodity futures? (2021-K)](https://naaim.org/whitepaper/do-economic-variables-forecast-commodity-futures-2021-k/) - [Currency Anomalies (2021-J)](https://naaim.org/whitepaper/currency-anomalies-2021-j/) - [Active/Passive Blending Based On The Liquidity Premium: A Practical Study (First Place 2021-I)](https://naaim.org/whitepaper/active-passive-blending-based-on-the-liquidity-premium-a-practical-study-first-place-2021-i/) - [AlphaPortfolio as the New Active Investing Paradigm: Direct Construction Through Reinforcement (2021-H)](https://naaim.org/whitepaper/alphaportfolio-as-the-new-active-investing-paradigm-direct-construction-through-reinforcement-2021-h/) - [Doing Well by Doing Good? Risk, Return, and Environmental and Social Ratings (2021-G)](https://naaim.org/whitepaper/doing-well-by-doing-good-risk-return-and-environmental-and-social-ratings-2021-g/) - [Investor Competition and the Cost of Capital (2021-F)](https://naaim.org/whitepaper/investor-competition-and-the-cost-of-capital-2021-f/) - [Beyond Negative Prices: The Saga of the Commodity and Equity Market (2021-E)](https://naaim.org/whitepaper/beyond-negative-prices-the-saga-of-the-commodity-and-equity-market-2021-e/) - [Peer Co-Movement in Crypto Markets (2021-D)](https://naaim.org/whitepaper/peer-co-movement-in-crypto-markets-2021-d/) - [Can Machine Learning Help to Select Portfolios of Mutual Funds? (2021-C)](https://naaim.org/whitepaper/can-machine-learning-help-to-select-portfolios-of-mutual-funds-2021-c/) - [Optimal Investment Management for Prospect Theory Investors (2021-B)](https://naaim.org/whitepaper/optimal-investment-management-for-prospect-theory-investors-2021-b/) - [Repurposed "Shrinkage Estimator" Deftly Allocates to Risky Assets (2021-A)](https://naaim.org/whitepaper/repurposed-shrinkage-estimator-deftly-allocates-to-risky-assets-2021-a/) - [Option Pricing via Breakeven Volatility (2022-A)](https://naaim.org/whitepaper/option-pricing-via-breakeven-volatility-2022-00a/) - [SPACtivisim (2022-I)](https://naaim.org/whitepaper/spactivisim-2022-i/) - [Do Regular Savers Benefit From Market Volatility? (2022-H)](https://naaim.org/whitepaper/do-regular-savers-benefit-from-market-volatility-2022-h/) - [AlphaPortfolio as a New Active Investing Paradigm: Direct Construction Through Deep Reinforcement Learning and Interpretable AI (2022-F)](https://naaim.org/whitepaper/alphaportfolio-as-a-new-active-investing-paradigm-direct-construction-through-deep-reinforcement-learning-and-interpretable-ai-2022-f/) - [MACD-V -Momentum - Volatility Normalised Momentum (2022-E | First Place Paper)](https://naaim.org/whitepaper/macd-v-momentum-volatility-normalised-momentum-2022-e-first-place-paper/) - [Factor Investing in Paris: Managing climate change risk in portfolio construction (2022-D)](https://naaim.org/whitepaper/factor-investing-in-paris-managing-climate-change-risk-in-portfolio-construction-2022-d/) - [Currency Anomalies (2022-C)](https://naaim.org/whitepaper/currency-anomalies-2022-c/) - [Risk-Free Rate in the Covid-19 Pandemic: Application Mistakes and Conclusions for Traders (2022-B)](https://naaim.org/whitepaper/risk-free-rate-in-the-covid-19-pandemic-application-mistakes-and-conclusions-for-traders-2022-b/) - [Accumulated Capital Weighted Dollar Volume and Volume Price Confirmation Indicator Factor Model (2023-00A)](https://naaim.org/whitepaper/accumulated-capital-weighted-dollar-volume-and-volume-price-confirmation-indicator-factor-model-2023-00a/) - [The ESG Gap (2023-00B)](https://naaim.org/whitepaper/the-esg-gap-2023-00b/) - [Tracking Error Mitigation by Managers of Multiple Mutual Funds: An Empirical Investigation (2023-00C)](https://naaim.org/whitepaper/tracking-error-mitigation-by-managers-of-multiple-mutual-funds-an-empirical-investigation-2023-00c/) - [Profitable Timing of the Stock Market with the Senior Loan Officer Survey (2023-00D)](https://naaim.org/whitepaper/profitable-timing-of-the-stock-market-with-the-senior-loan-officer-survey-2023-00d/) - [QAS TACTICAL CRYPTOCURRENCY INVESTMENT STRATEGY (2023-00E)](https://naaim.org/whitepaper/qas-tactical-cryptocurrency-investment-strategy-2023-00e/) - [Fast and Slow Arbitrage: The Predictive Power of Capital Flows for Factor Returns (2023-00F)](https://naaim.org/whitepaper/fast-and-slow-arbitrage-the-predictive-power-of-capital-flows-for-factor-returns-2023-00f/) - [The 5% Canary (2023-G | First Place)](https://naaim.org/whitepaper/the-5-canary-2023-g-first-place/) - [Complexity in Factor Pricing Models (2023-00H)](https://naaim.org/whitepaper/complexity-in-factor-pricing-models-2023-00h/) - [Why Candlestick Analysis is so Effective (2023-00I)](https://naaim.org/whitepaper/why-candlestick-analysis-is-so-effective-2023-00i/) - [All Clear for Takeoff: Evidence from Airports on the Effects of Infrastructure Privatization (2023-00J)](https://naaim.org/whitepaper/all-clear-for-takeoff-evidence-from-airports-on-the-effects-of-infrastructure-privatization-2023-00j/) - [Allocation Overpowers Timing (2023-00K)](https://naaim.org/whitepaper/allocation-overpowers-timing-2023-00k/) - [Macroeconomic Trends and Equity Risk Premium (2023-00L)](https://naaim.org/whitepaper/macroeconomic-trends-and-equity-risk-premium-2023-00l/) - [Trading Day of the Week Anomalies (2023-00M)](https://naaim.org/whitepaper/trading-day-of-the-week-anomalies-2023-00m/) - [Book-to-Market, Mispricing, and the Cross-Section of Corporate Bond Returns (2023-00N)](https://naaim.org/whitepaper/book-to-market-mispricing-and-the-cross-section-of-corporate-bond-returns-2023-00n/) - [The Management of Systematic Risk (and Reward) (2023-00O)](https://naaim.org/whitepaper/the-management-of-systematic-risk-and-reward-2023-00o/) - [High Performance Momentum Strategies (2023-00P)](https://naaim.org/whitepaper/high-performance-momentum-strategies-2023-00p/) - [Actively Using Passive Sectors to Generate Alpha Using The VIX (2020-F | 1st Place Paper)](https://naaim.org/whitepaper/actively-using-passive-sectors-to-generate-alpha-using-the-vix-2020-f-1st-place-paper/) - [Retail Investors' Contrarian Behavior Around News and the Momentum Effect (2020-BB)](https://naaim.org/whitepaper/retail-investors-contrarian-behavior-around-news-and-the-momentum-effect-2020-bb/) - [Optimized Portfolio Using a Forward-Looking Expected Tail Loss (2020-AA)](https://naaim.org/whitepaper/optimized-portfolio-using-a-forward-looking-expected-tail-loss-2020-aa/) - [The Valuation Effects of Index Investment in Commodity Futures (2020-Z)](https://naaim.org/whitepaper/the-valuation-effects-of-index-investment-in-commodity-futures-2020-z/) - [Against Other Betas (2020-Y)](https://naaim.org/whitepaper/against-other-betas-2020-y/) - [Tail Risks in Large Portfolio Selection: Penalized Quantile and Expectile Minimum Deviation Models (2020-X)](https://naaim.org/whitepaper/tail-risks-in-large-portfolio-selection-penalized-quantile-and-expectile-minimum-deviation-models-2020-x/) - [The Volume Factor (2020-V)](https://naaim.org/whitepaper/the-volume-factor-2020-v/) - [The Promises and Pitfalls of Machine Learning for Predicting Cross-Sectional Stock Returns (2020-U)](https://naaim.org/whitepaper/the-promises-and-pitfalls-of-machine-learning-for-predicting-cross-sectional-stock-returns-2020-u/) - [Stocks Trading with Price Target Momentum (2020-T)](https://naaim.org/whitepaper/stocks-trading-with-price-target-momentum-2020-t/) - [Don't Take Their Word For It: The Misclassification of Bond Mutual Funds (2020-S)](https://naaim.org/whitepaper/dont-take-their-word-for-it-the-misclassification-of-bond-mutual-funds-2020-s/) - [Quantimentals - Combining Technical and Fundamental Analysis in a Quantitative Framework for Better Investment Results (2020-R)](https://naaim.org/whitepaper/quantimentals-combining-technical-and-fundamental-analysis-in-a-quantitative-framework-for-better-investment-results-2020-r/) - [Anomoly Time (2020-Q)](https://naaim.org/whitepaper/anomoly-time-2020-q/) - [Fear and Laughing of the Market: Trending Pessimism, Fragile Optimism (2020-P)](https://naaim.org/whitepaper/fear-and-laughing-of-the-market-trending-pessimism-fragile-optimism-2020-p/) - [Quantitative use of Technical Indicator for Long-Term Investing (2020-O)](https://naaim.org/whitepaper/quantitative-use-of-technical-indicator-for-long-term-investing-2020-o/) - [Alpha Go Everywhere: Machine Learning and International Stock Returns (2020-N)](https://naaim.org/whitepaper/alpha-go-everywhere-machine-learning-and-international-stock-returns-2020-n/) - [The Effect of Cultural Diversity on Dividend Policy of Multinational Firms (2020-M)](https://naaim.org/whitepaper/the-effect-of-cultural-diversity-on-dividend-policy-of-multinational-firms-2020-m/) - [Cross-Asset Information Synergy in Mutual Fund Families (2020-L)](https://naaim.org/whitepaper/cross-asset-information-synergy-in-mutual-fund-families-2020-l/) - [A Global Village? Competition in the International Active Fund Management Industry (2020-K)](https://naaim.org/whitepaper/a-global-village-competition-in-the-international-active-fund-management-industry-2020-k/) - [Fund Flows and Performance under Dynamic Unobservable Managing Ability (2020-J)](https://naaim.org/whitepaper/fund-flows-and-performance-under-dynamic-unobservable-managing-ability-2020-j/) - [Abnormal Disagreement and the Cross Section of Stock Returns (2020-I)](https://naaim.org/whitepaper/abnormal-disagreement-and-the-cross-section-of-stock-returns-2020-i/) - [Institutional Trading on Information Diffusion across Fundamentally Related Firms (2020-H)](https://naaim.org/whitepaper/institutional-trading-on-information-diffusion-across-fundamentally-related-firms-2020-h/) - [Currency Anomalies (2020-G)](https://naaim.org/whitepaper/currency-anomalies-2020-g/) - [Deep Learning for Asset Bubbles (2020-E)](https://naaim.org/whitepaper/deep-learning-for-asset-bubbles-2020-e/) - [Trading Profitability with Dual-Beta Estimates (2020-D)](https://naaim.org/whitepaper/trading-profitability-with-dual-beta-estimates-2020-d/) - [The Beta Anomaly and Mutual Fund Performance (2020-C)](https://naaim.org/whitepaper/the-beta-anomaly-and-mutual-fund-performance-2020-c/) - [Reversing the Fortunes of Active Funds (2020-B)](https://naaim.org/whitepaper/reversing-the-fortunes-of-active-funds-2020-b/) - [Market Behavior Analysis - Detrending Data using Market Behavior (2020-A)](https://naaim.org/whitepaper/market-behavior-analysis-detrending-data-using-market-behavior-2020-a/) - [Risk Factors that Matter: Textual Analysis of Risk Disclosures for the Cross-Section of Returns (2019-U)](https://naaim.org/whitepaper/ors-that-matter-textual-analysis-of-risk-disclosures-for-the-cross-section-of-returns-2019-u/) - [Break Risk (2019-R | Third Place)](https://naaim.org/whitepaper/break-risk-2019-r-third-place/) - [Creating Superior Investment Portfolios (2019-Q)](https://naaim.org/whitepaper/creating-superior-investment-portfolios-2019-q/) - [Shorting Fees, Private Information, and Smart Lending (2019-A)](https://naaim.org/whitepaper/shorting-fees-private-information-and-smart-lending-2019-a/) - [Investors Make Bottoms, Traders Make Tops (2019-B)](https://naaim.org/whitepaper/investors-make-bottoms-traders-make-tops-2019-b/) - [Global Market Inefficiencies (2019-C | Second Place)](https://naaim.org/whitepaper/global-market-inefficiencies-2019-c-2nd-place/) - [Can You Time Alternative Investments? (2019-D)](https://naaim.org/whitepaper/can-you-time-alternative-investments-2019-d/) - [Bitcoin Microstructure and the Kimchi Premium (2019-E)](https://naaim.org/whitepaper/bitcoin-microstructure-and-the-kimchi-premium-2019-e/) - [ZIG when the Markets Zag (2019-F)](https://naaim.org/whitepaper/zig-when-the-markets-zag-2019-f/) - [GannTools for Better Crypto Currency Trading Outcomes (2019-G)](https://naaim.org/whitepaper/ganntools-for-better-crypto-currency-trading-outcomes-2019-g/) - [Currency Anomalies (2019-H)](https://naaim.org/whitepaper/currency-anomalies-2019-h/) - [Recovery Theorem with a Multivariate Markov Chain (2019-I)](https://naaim.org/whitepaper/recovery-theorem-with-a-multivariate-markov-chain-2019-i/) - [Finding Consistent Trends with Strong Momentum (2019-J)](https://naaim.org/whitepaper/finding-consistent-trends-with-strong-momentum-2019-j/) - [Antifragile Asset Allocation Model (2019-K | First Place)](https://naaim.org/whitepaper/antifragile-asset-allocation-model-2019-k-first-place/) - [On the Use of Intercepts as Performance Measures (2019-L)](https://naaim.org/whitepaper/on-the-use-of-intercepts-as-performance-measures-2019-l/) - [Multi-Factor Investing 2.0: Improving Factor Investing with Dynamic Option Replication (2019-M)](https://naaim.org/whitepaper/multi-factor-investing-2-0-improving-factor-investing-with-dynamic-option-replication-2019-m/) - [NYSE Advance-Decline Line Divergences as an Approximation of the Intensity for the Bear Markets and Corrections that Follow (2019-N)](https://naaim.org/whitepaper/nyse-advance-decline-line-divergences-as-an-approximation-of-the-intensity-for-the-bear-markets-and-corrections-that-follow-2019-n/) - [IQ from IP: Simplifying Search in Portfolio Choice (2019-O)](https://naaim.org/whitepaper/iq-from-ip-simplifying-search-in-portfolio-choice-2019-o/) - [The Virtual Crowd: Measuring the Depth of Investor Sentiment with Normalized Relative Volume (2019-P)](https://naaim.org/whitepaper/the-virtual-crowd-measuring-the-depth-of-investor-sentiment-with-normalized-relative-volume-2019-p/) - [The X Value Factor (2019-S)](https://naaim.org/whitepaper/the-x-value-factor-2019-s/) - [Time-varying factor risk and price of risk premiums - Macro-finance and factor timing (2019-T)](https://naaim.org/whitepaper/time-varying-factor-risk-and-price-of-risk-premiums-macro-finance-and-factor-timing-2019-t/) - [Quotes, Trades and the Cost of Capital (2018-G)](https://naaim.org/whitepaper/quotes-trades-and-the-cost-of-capital-2018-g/) - [Detecting Opportuistic Behavior In Public Short Campaigns (2018-O)](https://naaim.org/whitepaper/detecting-opportuistic-behavior-in-public-short-campaigns-2018-o/) - [Is it Efficient to Buy the Index? A Worldwide Tour with Stochastic Dominance (2018-L)](https://naaim.org/whitepaper/is-it-efficient-to-buy-the-index-a-worldwide-tour-with-stochastic-dominance-2018-l/) - [Market Implied GDP (2018-P)](https://naaim.org/whitepaper/why-practitioners-should-use-bayesian-statistics-2018-p/) - [Why Practitioners Should Use Bayesian Statistics (2018-A)](https://naaim.org/whitepaper/why-practitioners-should-use-bayesian-statistics-2018-a/) - [ETF's and Price Volatility of Underlying Bonds (2018-B)](https://naaim.org/whitepaper/etfs-and-price-volatility-of-underlying-bonds-2018-b/) - [When to Buy Stocks and When to Buy Gold - Defining Secular Market Cycles for Improved Asset Allocation using a CAPE-Gold Approach (2018-D)](https://naaim.org/whitepaper/when-to-buy-stocks-and-when-to-buy-gold-defining-secular-market-cycles-for-improved-asset-allocation-using-a-cape-gold-approach-2018-d/) - [Leveraged Funds: Robust Replication and Performance Evaluation (2018-F)](https://naaim.org/whitepaper/leveraged-funds-robust-replication-and-performance-evaluation-2018-f/) - [Momentum in a Funds Context - Critically Different Choices (2018-E)](https://naaim.org/whitepaper/momentum-in-a-funds-context-critically-different-choices-2018-e/) - [Hedging a Buy and Hold Index Investment with Index Futures is the New Innovative Strategy for Wealth Management (2018-H)](https://naaim.org/whitepaper/hedging-a-buy-and-hold-index-investment-with-index-futures-is-the-new-innovative-strategy-for-wealth-management-2018-h/) - [Dynamic Capital Structure, Asset Pricing Factors, and the CAPM (2018-I)](https://naaim.org/whitepaper/dynamic-capital-structure-asset-pricing-factors-and-the-capm-2018-i/) - [Spanning Tests for Markowitz Stochastic Dominance (2018-J)](https://naaim.org/whitepaper/spanning-tests-for-markowitz-stochastic-dominance-2018-j/) - [Global Market Inefficiencies (2018-K)](https://naaim.org/whitepaper/global-market-inefficiencies-2018-k/) - [Earnings Acceleration and Stock Returns - First Place 2018](https://naaim.org/whitepaper/earnings-acceleration-and-stock-returns-first-place-2018/) - [IQ from IP: Simplifying Search in Porfolio Choice (2018-N)](https://naaim.org/whitepaper/iq-from-ip-simplifying-search-in-porfolio-choice-2018-n/) - [Predicting Extra Returns and Crises through the Investor Sentiment](https://naaim.org/whitepaper/predicting-extra-returns-and-crises-through-the-investor-sentiment/) - [To Track or Not to Track: Can Economic and Financial Indicators Help Smart Indexing?](https://naaim.org/whitepaper/to-track-or-not-to-track/) - [Easy Macroeconomic Timing for Fiduciaries](https://naaim.org/whitepaper/easy-macroeconomic-timing/) - [Volatility Capitalizing on Fear and Greed](https://naaim.org/whitepaper/volatility-capitalizing-on-fear-and-greed/) - [Achieve Your Goals More Often: A Case for Active Allocation (1st Place Paper - 2017)](https://naaim.org/whitepaper/achieve-your-goals-more-often-a-case-for-active-allocation/) - [Correlation between Speculation and Bankruptcy, an Analysis through Monetary Policy and Technical Analysis](https://naaim.org/whitepaper/correlation-between-speculation-and-bankruptcy-an-analysis-through-monetary-policy-and-technical-analysis/) - [Investment Prospects of Uzbekistan](https://naaim.org/whitepaper/investment-prospects-of-uzbekistan/) - [A Tactical Asset Allocation Strategy that Exploits Variations in VIX](https://naaim.org/whitepaper/a-tactical-asset-allocation-strategy-that-exploits-variations-in-vix/) - [A "No Sin" Option for the High Dividend/Low Beta Strategy](https://naaim.org/whitepaper/a-no-sin-option-for-the-high-dividendlow-beta-strategy/) - [Why Trade Systems Do Not Work](https://naaim.org/whitepaper/why-trade-systems-do-not-work/) - [Critics to Efficient Market Hypotesis, Evidence from Technical Analysis and Fundamental Analysis](https://naaim.org/whitepaper/critics-to-efficient-market-hypotesis-evidence-from-technical-analysis-and-fundamental-analysis/) - [The End of Neoliberal Globalization Deflation and Rise of Real Assets](https://naaim.org/whitepaper/the-end-of-neoliberal-globalization-deflation-and-rise-of-real-assets/) - [Measuring Investor Sentiment, Persistent Mispricing Explained through Technical Analysis and Fundamentals](https://naaim.org/whitepaper/measuring-investor-sentiment-persistent-mispricing-explained-through-technical-analysis-and-fundamentals/) - [Price of Value and Divergence Factor](https://naaim.org/whitepaper/price-of-value-and-divergence-factor/) - [Market Timing Factor Premiums Exploiting Behavioral Biases for Fun and Profit](https://naaim.org/whitepaper/market-timing-factor-premiums-exploiting-behavioral-biases-for-fun-and-profit/) - [The Influence of U.S. Equity Returns on the Equity Markets of the Pacific Basen](https://naaim.org/whitepaper/the-influence-of-u-s-equity-returns-on-the-equity-markets-of-the-pacific-basen/) - [The Evolution of Equity Drought Season / A Quantitative Examination of Q3](https://naaim.org/whitepaper/the-evolution-of-equity-drought-season-a-quantitative-examination-of-q3/) - [Lifetime active Portfolio Selection for Investments and Consumption - A Bull Bear Market Cycle based Probabilities Approach](https://naaim.org/whitepaper/lifetime-active-portfolio-selection-for-investments-and-consumption-a-bull-bear-market-cycle-based-probabilities-approach/) - [Investment Performance Improvement Utilizing Automated Polymorphic Momentum](https://naaim.org/whitepaper/investment-performance-improvement-utilizing-automated-polymorphic-momentum/) - [Novel Approach to Artificial Intelligence Trading](https://naaim.org/whitepaper/novel-approach-to-artificial-intelligence-trading/) - [Multivariate Regression Analysis: Considering the Relevance of Past Performance](https://naaim.org/whitepaper/multivariate-regression-analysis-considering-the-relevance-of-past-performance/) - [Just How Good Is Active Management?](https://naaim.org/whitepaper/just-how-good-is-active-management/) - [Intraday Order Placement and Execution in a Limit Order Market](https://naaim.org/whitepaper/intraday-order-placement-and-execution-in-a-limit-order-market/) - [Active Exchange-Traded Funds: Where Are We At?](https://naaim.org/whitepaper/active-exchange-traded-funds-where-are-we-at/) - [A Stock Basket Strategy in a Bullish Market Regime](https://naaim.org/whitepaper/a-stock-basket-strategy-in-a-bullish-market-regime/) - [What Quantitative Strategies Are Always Correct?](https://naaim.org/whitepaper/what-quantitative-strategies-are-always-correct/) - [Scaling up Market Anomalies](https://naaim.org/whitepaper/scaling-up-market-anomalies/) - [Optimizing "Optimal Portfolio Choice"](https://naaim.org/whitepaper/optimizing-optimal-portfolio-choice/) - [Turn-of-the-Month Window Dressing Behavior](https://naaim.org/whitepaper/turn-of-the-month-window-dressing-behavior/) - [Personification of Corporate Governance in Developing Investment Strategies](https://naaim.org/whitepaper/personification-of-corporate-governance-in-developing-investment-strategies/) - [The Indicators of Stock Market Macro Turning Points During Global Financial Crisis](https://naaim.org/whitepaper/the-indicators-of-stock-market-macro-turning-points-during-global-financial-crisis/) - [The Case for Using Seasonality in Stock Prices](https://naaim.org/whitepaper/the-case-for-using-seasonality-in-stock-prices/) - [NAAIM Assessing Trading System Health](https://naaim.org/whitepaper/naaim-assessing-trading-system-health/) - [Use of fundamental data for active investing in US equities](https://naaim.org/whitepaper/use-of-fundamental-data-for-active-investing-in-us-equities-2/) - [Use of fundamental data for active investing in US equities](https://naaim.org/whitepaper/use-of-fundamental-data-for-active-investing-in-us-equities/) - [Parameter Uncertainty and International Investmentin a Multi-period Setting](https://naaim.org/whitepaper/parameter-uncertainty-and-international-investmentin-a-multi-period-setting-2/) - [Parameter Uncertainty and International Investmentin a Multi-period Setting](https://naaim.org/whitepaper/parameter-uncertainty-and-international-investmentin-a-multi-period-setting/) - [Discriminating Bear Market Rallies from Initial Rallies in New Bull Markets: A Statistical Classifier Approach](https://naaim.org/whitepaper/discriminating-bear-market-rallies-from-initial-rallies-in-new-bull-markets-a-statistical-classifier-approach/) - [Combining Strategic and Tactical Asset Allocation](https://naaim.org/whitepaper/combining-strategic-and-tactical-asset-allocation/) - [e=mpt2 Efficient Modern Portfolio](https://naaim.org/whitepaper/empt2-efficient-modern-portfolio/) - [Relative Momentum: A New Alternative to Relative Strength](https://naaim.org/whitepaper/relative-momentum-a-new-alternative-to-relative-strength/) - [Portfolio Preservation During Severe Market Corrections: A Market Timing Enhancement to Modern Portfolio Theory](https://naaim.org/whitepaper/portfolio-preservation-during-severe-market-corrections-a-market-timing-enhancement-to-modern-portfolio-theory/) - [Mr. Swing: A quantitative system for mean reversion and swing trading in market regimes](https://naaim.org/whitepaper/mr-swing-a-quantitative-system-for-mean-reversion-and-swing-trading-in-market-regimes/) - [Uncommon Solutions](https://naaim.org/whitepaper/uncommon-solutions/) - [Back to the Future: Portfolio Optimization Downside Risk, and Alternative Assets,](https://naaim.org/whitepaper/back-to-the-future-portfolio-optimization-downside-risk-and-alternative-assets/) - [The Parameters of Active Investing](https://naaim.org/whitepaper/the-parameters-of-active-investing/) - [Strategy Market Barometer](https://naaim.org/whitepaper/strategy-market-barometer/) - [The Importance of Investment Strategy](https://naaim.org/whitepaper/the-importance-of-investment-strategy/) - [Using Adaptive Rebalancing to Bridge the Gap Between Strategic Asset Allocation and Tactical Asset Allocation](https://naaim.org/whitepaper/using-adaptive-rebalancing-to-bridge-the-gap-between-strategic-asset-allocation-and-tactical-asset-allocation/) - [Phase Investing for the Active Investment Manager](https://naaim.org/whitepaper/phase-investing-for-the-active-investment-manager/) - [An Alternative to Risk Parity](https://naaim.org/whitepaper/an-alternative-to-risk-parity/) - [A More Quantitative Approach to “A Quantitative Approach to Tactical Asset Allocation"](https://naaim.org/whitepaper/a-more-quantitative-approach-to-a-quantitative-approach-to-tactical-asset-allocation/) - [Analyzing Valuation Measures: A Performance Horse-Race over the Past 40 Years](https://naaim.org/whitepaper/analyzing-valuation-measures-a-performance-horse-race-over-the-past-40-years/) - [How Financial Engineering Can Improve your Portfolios](https://naaim.org/whitepaper/how-financial-engineering-can-improve-your-portfolios/) - [A Useful Pairing …](https://naaim.org/whitepaper/a-useful-pairing/) - [Considering the Predictive Impact of Different Volatility Measures On Daily Follow-Through Using An Adaptive Framework](https://naaim.org/whitepaper/considering-the-predictive-impact-of-different-volatility-measures-on-daily-follow-through-using-an-adaptive-framework/) - [Dividend Swaps as Synthetic Equity](https://naaim.org/whitepaper/dividend-swaps-as-synthetic-equity/) - [Correlations Have Personality, Too: An Analysis of Correlations between Assets](https://naaim.org/whitepaper/correlations-have-personality-too-an-analysis-of-correlations-between-assets/) - [The IBS Effect: Mean Reversion in Equity ETFs](https://naaim.org/whitepaper/the-ibs-effect-mean-reversion-in-equity-etfs/) - [The Cross-Section Predictability of Cyclically-Adjusted Valuation Measures1](https://naaim.org/whitepaper/the-cross-section-predictability-of-cyclically-adjusted-valuation-measures1/) - [212 Years of Price Momentum - (The World’s Longest Backtest: 1801–2012)](https://naaim.org/whitepaper/212-years-of-price-momentum-the-worlds-longest-backtest-1801-2012/) - [Buying Power - The Overlooked Success Factor](https://naaim.org/whitepaper/buying-power-the-overlooked-success-factor/) - [Abstract Of: Equity Sector Rotation via Credit Relative Value](https://naaim.org/whitepaper/abstract-of-equity-sector-rotation-via-credit-relative-value/) - [Know Your System! – Turning Data Mining from Bias to Benefit through System Parameter Permutation](https://naaim.org/whitepaper/know-your-system-turning-data-mining-from-bias-to-benefit-through-system-parameter-permutation/) - [Short Term Alpha as a Predictor of Future Mutual Fund Performance](https://naaim.org/whitepaper/short-term-alpha-as-a-predictor-of-future-mutual-fund-performance/) - [Alternative Overlay for a Traditional Managed Equity Portfolio](https://naaim.org/whitepaper/alternative-overlay-for-a-traditional-managed-equity-portfolio/) - [Risk Adjusted Trend Indicator](https://naaim.org/whitepaper/risk-adjusted-trend-indicator/) - [Easy Volatility Investing + Abstract](https://naaim.org/whitepaper/easy-volatility-investing-abstract/) - [Optimal Rotational Strategies Using Combined Technical and Fundamental Analysis](https://naaim.org/whitepaper/optimal-rotational-strategies-using-combined-technical-and-fundamental-analysis/) - [Alpha Generation and Risk Smoothing using Volatility of Volatility](https://naaim.org/whitepaper/alpha-generation-and-risk-smoothing-using-volatility-of-volatility/) - [An Intermarket Approach to Tactical Risk Rotation Using the Signaling Power of Treasuries to Generate Alpha and Enhance Asset Allocation](https://naaim.org/whitepaper/an-intermarket-approach-to-tactical-risk-rotation-using-the-signaling-power-of-treasuries-to-generate-alpha-and-enhance-asset-allocation/) - [Absolute Momentum](https://naaim.org/whitepaper/absolute-momentum/) - [Momentum Success Factors](https://naaim.org/whitepaper/momentum-success-factors/) - [Optimal Momentum Investing](https://naaim.org/whitepaper/optimal-momentum-investing/) - [Excel - 2003 -- also send Excel 2007](https://naaim.org/whitepaper/excel-2003-also-send-excel-2007/) - [Tactical Equity Allocation Model (T.E.A.M.) - A Quantitative Approach for Investing in Long-Term Trends by using Short-Term Mean- Reversion Techniques to Optimize Risk-Adjusted Returns](https://naaim.org/whitepaper/tactical-equity-allocation-model-t-e-a-m-a-quantitative-approach-for-investing-in-long-term-trends-by-using-short-term-mean-reversion-techniques-to-optimize-risk-adjusted-returns/) - [Capital Flows in Rational Markets](https://naaim.org/whitepaper/capital-flows-in-rational-markets/) - [THE LONG-TERM EFFECTS OF HEDGE FUND ACTIVISM](https://naaim.org/whitepaper/the-long-term-effects-of-hedge-fund-activism/) - [System Parameter Permutation](https://naaim.org/whitepaper/system-parameter-permutation/) - [Using Maximum Drawdowns to Capture Tail Risk](https://naaim.org/whitepaper/using-maximum-drawdowns-to-capture-tail-risk/) - [Can Hedge Funds Time Market Liquidity](https://naaim.org/whitepaper/can-hedge-funds-time-market-liquidity/) - [Momentum Strategies in Futures Markets and Trend-following Funds](https://naaim.org/whitepaper/momentum-strategies-in-futures-markets-and-trend-following-funds/) - [The GML System for Market Timing and Asset Allocation…](https://naaim.org/whitepaper/the-gml-system-for-market-timing-and-asset-allocation/) - [Filtered Market Statistics and Technical Trading Rules](https://naaim.org/whitepaper/filtered-market-statistics-and-technical-trading-rules/) - [Optimal Portfolio Strategy to Control Maximum Drawdown (The Case of Risk-based Active Management with Dynamic Asset Allocation)](https://naaim.org/whitepaper/optimal-portfolio-strategy-to-control-maximum-drawdown-the-case-of-risk-based-active-management-with-dynamic-asset-allocation/) - [Buy-Write or Put-Write, An Active Portfolio to Strike it Right](https://naaim.org/whitepaper/buy-write-or-put-write-an-active-portfolio-to-strike-it-right/) - [Back to Black](https://naaim.org/whitepaper/back-to-black/) - [Tactical Equity Allocation Model (T.E.A.M.) - A Quantitative Approach for Investing in Long-Term Trends by using Short-Term Mean- Reversion Techniques to Optimize Risk-Adjusted Returns](https://naaim.org/whitepaper/tactical-equity-allocation-model-t-e-a-m-a-quantitative-approach-for-investing-in-long-term-trends-by-using-short-term-mean-reversion-techniques-to-optimize-risk-adjusted-returns-2/) - [Using Foreign Exchange Markets to Outperform Buy and Hold](https://naaim.org/whitepaper/using-foreign-exchange-markets-to-outperform-buy-and-hold/) - [Inside the Emerging Markets Risky Spreads and Credit Default Swap - Sovereign Bonds Basis](https://naaim.org/whitepaper/inside-the-emerging-markets-risky-spreads-and-credit-default-swap-sovereign-bonds-basis/) - [Adaptive Porfolio Allocation](https://naaim.org/whitepaper/adaptive-porfolio-allocation/) - [Catching up with the trend: A lagged cross-sectional momentum strategy for commodity futures](https://naaim.org/whitepaper/catching-up-with-the-trend-a-lagged-cross-sectional-momentum-strategy-for-commodity-futures/) - [Retirement Planning Using Random Walk Theory & Artificial Intelligence](https://naaim.org/whitepaper/retirement-planning-using-random-walk-theory-artificial-intelligence/) - [A Quantitative Approach to Responsible Investment: Using a ESG-Multifactor Model to Improve Equity Portfolios](https://naaim.org/whitepaper/a-quantitative-approach-to-responsible-investment-using-a-esg-multifactor-model-to-improve-equity-portfolios/) - [Dynamic Option Replication: Applications in Active Management, Ivy Portfolios, Hedging and Futures](https://naaim.org/whitepaper/dynamic-option-replication-applications-in-active-management-ivy-portfolios-hedging-and-futures/) - [Optimal Trend Following with Probabilistic Market Timing – Systematic Learnings from Bull Bear Market Cycle Statistics](https://naaim.org/whitepaper/optimal-trend-following-with-probabilistic-market-timing-systematic-learnings-from-bull-bear-market-cycle-statistics/) - [Is It Worth It?Quantifying the Value of Risk-Managed Investing](https://naaim.org/whitepaper/is-it-worth-itquantifying-the-value-of-risk-managed-investing/) - [Enhance Asset Allocation](https://naaim.org/whitepaper/enhance-asset-allocation/) - [Simultation as a Stock Market Timing Tool](https://naaim.org/whitepaper/simultation-as-a-stock-market-timing-tool/) - [Momentum Based Balancing for the Diversified Portfolio](https://naaim.org/whitepaper/momentum-based-balancing-for-the-diversified-portfolio/) - [Treatise on Tactical Asset Allocation](https://naaim.org/whitepaper/treatise-on-tactical-asset-allocation/) - [A Tactical, Analytical and Practical Look at Modern Portfolio Theory](https://naaim.org/whitepaper/a-tactical-analytical-and-practical-look-at-modern-portfolio-theory/) - [And theWinner is .. Markowitz!](https://naaim.org/whitepaper/and-thewinner-is-markowitz/) - [Economics Matters: Applying Eigenspectra Analysis to Generate Persistent Portfolio Outperformance Using Economic Releases](https://naaim.org/whitepaper/economics-matters-applying-eigenspectra-analysis-to-generate-persistent-portfolio-outperformance-using-economic-releases/) - [Lumber: Worth Its Weight in Gold Offense and Defense in Active Portfolio Management](https://naaim.org/whitepaper/lumber-worth-its-weight-in-gold-offense-and-defense-in-active-portfolio-management/) - [Fusion of State Estimates from Regime-Switching Models](https://naaim.org/whitepaper/fusion-of-state-estimates-from-regime-switching-models/) - [Practical Applications of Portfolio Replicatoin](https://naaim.org/whitepaper/practical-applications-of-portfolio-replicatoin/) - [Master Limited Partnership (MLP) Investing: A case for MLP's as a core allocation in your portfolio](https://naaim.org/whitepaper/master-limited-partnership-mlp-investing-a-case-for-mlps-as-a-core-allocation-in-your-portfolio/) - [The Negatively Correlated Tactical Portfolio Strategy (or NCTP Strategy)](https://naaim.org/whitepaper/the-negatively-correlated-tactical-portfolio-strategy-or-nctp-strategy/) - [Stock Trends and Trend Based Trading Strategies](https://naaim.org/whitepaper/stock-trends-and-trend-based-trading-strategies/) - [Beat the S&P 500 with Quantitative Portfolio Construction](https://naaim.org/whitepaper/beat-the-sp-500-with-quantitative-portfolio-construction/) - [Comparison of New Factor Models](https://naaim.org/whitepaper/comparison-of-new-factor-models/) - [Minimizing Timing Luck with Portfolio Tranching](https://naaim.org/whitepaper/minimizing-timing-luck-with-portfolio-tranching/) - [Momentum AND Diversification - A powerful risk-adjusted combination](https://naaim.org/whitepaper/momentum-and-diversification-a-powerful-risk-adjusted-combination/) - [Simple and Effective Market Timing with Tactical Asset Allocation](https://naaim.org/whitepaper/simple-and-effective-market-timing-with-tactical-asset-allocation/) - [Lumber: Worth Its Weight in Gold Offense and Defense in Active Portfolio Management](https://naaim.org/whitepaper/lumber-worth-its-weight-in-gold-offense-and-defense-in-active-portfolio-management-2/) - [Beat your Benchmark Every Year](https://naaim.org/whitepaper/beat-your-benchmark-every-year/) - [The Search for Crisis Alpha: Weathering the Storm using Relative Momentum](https://naaim.org/whitepaper/the-search-for-crisis-alpha-weathering-the-storm-using-relative-momentum/) - [Is there a Distress Risk Anomaly? Corporate Bond Spread as a Proxy for Default Risk](https://naaim.org/whitepaper/is-there-a-distress-risk-anomaly-corporate-bond-spread-as-a-proxy-for-default-risk/) - [Exploring Statistical Arbitrage Opportunities in the Term Structure of CDS Spreads](https://naaim.org/whitepaper/exploring-statistical-arbitrage-opportunities-in-the-term-structure-of-cds-spreads/) - [Theoretical Basis and Practical Example of Trend Following](https://naaim.org/whitepaper/theoretical-basis-and-practical-example-of-trend-following/) - [Active Investment Management - Assessing Return on Activity / An Exploration of the Levels of Active Management and the Returns of a Global ETF Trading System](https://naaim.org/whitepaper/active-investment-management-assessing-return-on-activity-an-exploration-of-the-levels-of-active-management-and-the-returns-of-a-global-etf-trading-system/) - [Towards optimization through Step-Forward Testing](https://naaim.org/whitepaper/towards-optimization-through-step-forward-testing/) - [Implications of Index Constructions Methodologies for Price and Dividend Indices](https://naaim.org/whitepaper/implications-of-index-constructions-methodologies-for-price-and-dividend-indices/) - [The Stampede to Safety: A Tragedy of Commons](https://naaim.org/whitepaper/the-stampede-to-safety-a-tragedy-of-commons/) - [Active Management of the Rydex Series Funds](https://naaim.org/whitepaper/active-management-of-the-rydex-series-funds/) - [A Multi Objective Approach for Contingent Claim Portfolios](https://naaim.org/whitepaper/a-multi-objective-approach-for-contingent-claim-portfolios/) - [A System of Models](https://naaim.org/whitepaper/a-system-of-models/) - [Measuring Bond Mutual Fund Performance with Portfolio Characteristics](https://naaim.org/whitepaper/measuring-bond-mutual-fund-performance-with-portfolio-characteristics/) - [Developing an Active Management System for the U.S. Stock Market and Constructing a "Live" Testing Environment](https://naaim.org/whitepaper/developing-an-active-management-system-for-the-u-s-stock-market-and-constructing-a-live-testing-environment/) - [Adaptive Risk Management Strategy (ARMS)](https://naaim.org/whitepaper/adaptive-risk-management-strategy-arms/) - [Opposites Attract: Improvements to Trend Following for Absolute Returns](https://naaim.org/whitepaper/opposites-attract-improvements-to-trend-following-for-absolute-returns/) - [IPO Performance In Emerging Market From Trading perspective: An Indian scenario](https://naaim.org/whitepaper/ipo-performance-in-emerging-market-from-trading-perspective-an-indian-scenario/) - [Credit-Informed Tactical Asset Allocation](https://naaim.org/whitepaper/credit-informed-tactical-asset-allocation/) - [Monthly Momentum Allocation by Sharpe Ratio - A Tactical Allocation Strategy for Maximizing Risk-adjusted Return](https://naaim.org/whitepaper/monthly-momentum-allocation-by-sharpe-ratio-a-tactical-allocation-strategy-for-maximizing-risk-adjusted-return/) - [Fighting the Next War: Redefining the Inflation Protected Portfolio](https://naaim.org/whitepaper/fighting-the-next-war-redefining-the-inflation-protected-portfolio/) - [Active Daily Money Management for The Preservation of Client Assets](https://naaim.org/whitepaper/active-daily-money-management-for-the-preservation-of-client-assets-2/) - [Active Daily Money Management for The Preservation of Client Assets](https://naaim.org/whitepaper/active-daily-money-management-for-the-preservation-of-client-assets/) - [A Red Ryder Christmas](https://naaim.org/whitepaper/a-red-ryder-christmas/) - [Indicator and Seasonal Effects on Monthly Trading Models](https://naaim.org/whitepaper/indicator-and-seasonal-effects-on-monthly-trading-models/) - [Monte Carlo Portfolio Optimization](https://naaim.org/whitepaper/monte-carlo-portfolio-optimization/) - [Diversified Statistical Arbitrage: Dynamically combining mean reversion and momentum investment strategies](https://naaim.org/whitepaper/diversified-statistical-arbitrage-dynamically-combining-mean-reversion-and-momentum-investment-strategies/) - [Considering the Predictive Impact of Different Volatility Measures On Daily Follow-Through Using An Adaptive Framework](https://naaim.org/whitepaper/considering-the-predictive-impact-of-different-volatility-measures-on-daily-follow-through-using-an-adaptive-framework-2/) - [Protecting Equity Investments](https://naaim.org/whitepaper/protecting-equity-investments/) - [Why Listed Infrastructure](https://naaim.org/whitepaper/why-listed-infrastructure/) - [The Abandonment Metric](https://naaim.org/whitepaper/the-abandonment-metric/) - [A test of momentum strategies in funded pension systems](https://naaim.org/whitepaper/a-test-of-momentum-strategies-in-funded-pension-systems/) - [Trend Following Signal Confirmation Using Non-Price Indicators](https://naaim.org/whitepaper/trend-following-signal-confirmation-using-non-price-indicators/) - [MAP Investment Strategies](https://naaim.org/whitepaper/map-investment-strategies/) - [An Analysis of Correlations between Assets](https://naaim.org/whitepaper/an-analysis-of-correlations-between-assets/) ## Founder Awards - [NAAIM Founders Award - 2026 Winner](https://naaim.org/founder_award/naaim-founders-award-2026-winner/) - NAAIM 2026 Founders Award Presented to Davide Pandini, Italian Financial Analyst and Technical Director of STMicroelectronics Littleton, Colorado – April 27, 2026 - The National Association of Active Investment Managers (NAAIM) has named Davide Pandini, PhD, CMT, MFTA, CFTe, CSTA, the 2026 winner of its annual white paper competition, the NAAIM Founders Award. Dr. Pandini - [NAAIM Founders Award - 2025 Winner](https://naaim.org/founder_award/naaim-founders-award-2025-winner/) - The National Association of Active Investment Managers (NAAIM) has named Oliver Reiss, Ph.D., Managing Director of Tremti GmbH based in Dusseldorf, Germany, as the 2025 winner of its annual white paper competition, the NAAIM Founders’ Award. - [NAAIM Founders Award - 2020 Winner](https://naaim.org/founder_award/2020-first-place-founders-award-winner/) - Toroso Investments Portfolio Manager Wins the 2020 NAAIM Founders Award for Paper on Exploiting Momentum “Crashes” Using the VIX Michael A. Gayed, CFA, portfolio manager at Toroso Investments, joins David S, Dierking, CFA and Matthew Bowler as winner of the $5,000 NAAIM 2020 Founders Award for Advances in Active Investment Management with their paper, - [NAAIM Founders Award - 2023 Winner](https://naaim.org/founder_award/naaim-2023-founders-award-winner/) - NAAIM 2023 Founders’ Award White Paper Winner Identifies a 5% “Canary” to Warn of Potential Declines Markets The National Association of Active Investment Managers (NAAIM) has named Andrew Thrasher, CMT, of Financial Enhancement Group LLC, as winner of its annual white paper competition, the NAAIM Founders’ Award. Thrasher’s paper, titled “The 5% Canary,” demonstrates how - [NAAIM Founders Award - 2024 Winner](https://naaim.org/founder_award/naaim-founders-award-2024-winner/) - NAAIM 2024 Founders’ Award White Paper Winner Says Most Investors Have the Relationship Between the S&P 500 and Volatility Wrong Littleton, Colorado – May 6, 2024 - The National Association of Active Investment Managers (NAAIM) has named Rob Hanna of Capital Advisors 360 as the 2024 winner of its annual white paper competition, the NAAIM - [NAAIM Founders Award - 2022 Winner](https://naaim.org/founder_award/naaim-founders-award-2022-winner-announced/) - NAAIM 2022 Founder’s Award White Paper Winner Focuses on Combining MACD with Volatility Normalized Movement to Improve Buy and Sell Signal Accuracy The National Association of Active Investment Managers (NAAIM) has named Alex Spiroglou, CFTe, DipTA (ATAA), as winner of its annual white paper competition, the NAAIM Founders Award. Spiroglou’s paper, titled “MACD-V: Volatility Normalized - [2019 First Place Winner - Founders Award](https://naaim.org/founder_award/2019-winner-founders-award/) - 2019 Winning Paper Italian Financial Analyst Wins the 2019 NAAIM Founders Award and $5,000 for his White Paper – Antifragile Asset Allocation Model Littleton, CO – May 15, 2019 – Gioele Giordano, CFTe, a member of the Italian Society of Technical Analysis and student at the University of Modena and Reggio Emilia at - [Founders/Wagner Award Past Winners](https://naaim.org/founder_award/wagner-award-past-winners/) - All Winners: 2016: 1st Place: Spencer Seggebruch, Multivariate Regression Analysis: Considering the Relevance of Past Performance 2nd Place (Tie):Don Beasley, A Stock Basket Strategy in a Bullish Market Regime 2rd Place (Tie) : Scott Juds, Investment Performance Improvement Utilizing Automated Polymorphic Momentum 2015: 1st Place: Charlie Bilello and Michael Gayed, CFA, Lumber: Worth Its Weight in Gold - - [NAAIM Founders Award - 2021 Winner](https://naaim.org/founder_award/2021-founders-award-competition/) - NAAIM Founder’s Award White Paper Winner Offers a Passive/Active Blending Approach that Responds to Risk/Reward Opportunities in the Stock Market Littleton, Colorado – August 3, 2021 - The National Association of Active Investment Managers (NAAIM) has named Garrett H Brookes, CFA and founder of Slingshot Financial, as winner of its annual white paper competition, the ## AISC Winners - [2013 Wagner Award Submissions](https://naaim.org/naaim-aisc/2013-wagner-award-submissions/) - Launched in 2009, the NAAIM Wagner Award is designed to expand awareness of active investment management techniques and the results of active strategies through the solicitation and publication of research on active management. $10,000 is presented annually for the best paper submitted to the competition. The 2007-2008 bear market, following on the heels of the - [John McClure - 2015 Shark Tank Winner](https://naaim.org/naaim-aisc/john-mcclure-2015-shark-tank-winner/) - 2015 NAAIM Shark Tank Winner John McClure of ProfitScore Wins the 2015 NAAIM Shark Tank at Uncommon Knowledge Conference Littleton, CO – May 26, 2015 – During the 2015 Uncommon Knowledge conference held May 3-6 in Newport Beach, CA, the National Association of Active Investment Managers (NAAIM) announced that John M. McClure, founder and CEO - [David Bush of Alphatative Wins 2016 NAAIM Shark Tank](https://naaim.org/naaim-aisc/david-bush-of-alphatative-wins-2016-naaim-shark-tank/) - David Bush of Alphatative Wins Third Annual 2016 NAAIM Shark Tank at Uncommon Knowledge Conference David Bush, Founder and Managing Member of Alphatative LLC in the greater Cincinatti, Ohio area is the first-place winner of the 2016 NAAIM Shark Tank Competition for his investment strategy: STRATVERSIFY®. Find out more about NAAIM Shark Tank In - [Rich Paul of Potomac Advisors - Winner of 2017 NAAIM Shark Tank](https://naaim.org/naaim-aisc/rich-paul-of-potomac-advisors-winner-of-2017-naaim-shark-tank/) - Rich Paul of Potomac Advisors Wins Fourth Annual NAAIM Shark Tank at Uncommon Knowledge 2017 Conference Littleton, CO – May 23, 2017 – Richard Paul, Founder and CIO of Potomac Advisors, Inc. in Lakewood Ranch, FL, received 1st place in the 2017 NAAIM Shark Tank competition for best investment strategy at the 2017 National Association - [Dave Moenning Wins 2018 NAAIM Shark Tank Competition](https://naaim.org/naaim-aisc/dave-moenning-wins-2018-naaim-shark-tank-competition/) - Dave Moenning, Founder and CIO of Heritage Capital Research, Wins 2018 NAAIM Shark Tank Competition Long-time financial professional Dave Moenning, founder and chief investment officer of Heritage Capital Research in Denver, Colorado, took home first place in the 2018 National Association of Active Investment Managers (NAAIM) Shark Tank. The competition was held in conjunction with the - [NAAIM Active Investing Strategy Competition - 2021 Winners](https://naaim.org/naaim-aisc/aisc_competition/) - Each year, the National Association of Active Investment Managers hosts competitions to seek out the best actively managed investment strategies. The competition was launched in 2013 to provide an opportunity for managers to showcase their active investment strategies, models, and signals and to provide membership with opportunities to develop relationships with other active managers. 2023 - [2023 Active Investing Strategy Winner](https://naaim.org/naaim-aisc/2023-active-investing-strategy-winner/) - 2023 Active Investing Strategy WinnerLong-time investment professional Jerry Jacobs, founder and president of Atlas Capital Management Corp. 35-year-old Tactical Investment Strategy Captures Top Honors in the NAAIM Active Investing Strategy CompetitionLong-time investment professional Jerry Jacobs, founder and president of Atlas Capital Management Corp. in Fort Wayne, Indiana, won first place for his Classic Strategy in ## Categories - [NAAIM Speaks](https://naaim.org/category/naaim-speaks/) - [ANNOUNCEMENTS](https://naaim.org/category/announcements/) - [Trend Analysis](https://naaim.org/category/indicators/trend-analysis/) - [Indicators](https://naaim.org/category/indicators/) - [Primary Cycle Models](https://naaim.org/category/indicators/primary-cycle-models/) - [Early Warning Indicators](https://naaim.org/category/indicators/early-warning-indicators/) - [NAAIM Dynamic Asset Allocation Model](https://naaim.org/category/indicators/naaim-dynamic-asset-allocation-model/) - [Key Price Levels](https://naaim.org/category/indicators/key-price-levels/) - [Fundamental Factor Indicators](https://naaim.org/category/indicators/fundamental-factor-indicators/) - [Market Momentum Indicators](https://naaim.org/category/indicators/market-momentum-indicators/) - [Founders Award](https://naaim.org/category/programs/founders-award/) - [Active Investing Strategy Competition](https://naaim.org/category/programs/aisc/) - [Programs](https://naaim.org/category/programs/) ## Tags - [Paul Schatz](https://naaim.org/tag/paul-schatz/) - [NAAIM](https://naaim.org/tag/naaim/) - [David Moenning](https://naaim.org/tag/david-moenning/) - [stock market](https://naaim.org/tag/stock-market/) - [uncommon knowledge](https://naaim.org/tag/uncommon-knowledge/) - [NAAIM Speaks](https://naaim.org/tag/naaim-speaks/) - [stock market indicators](https://naaim.org/tag/stock-market-indicators/) - [Stocks market analysis](https://naaim.org/tag/stocks-market-analysis/) - [Stock Market Analysis](https://naaim.org/tag/stock-market-analysis/) - [Jeffrey Miller](https://naaim.org/tag/jeffrey-miller/) - [Rob Bernstein](https://naaim.org/tag/rob-bernstein/) - [Sam Bills](https://naaim.org/tag/sam-bills/) - [Bo Bills](https://naaim.org/tag/bo-bills/) - [Dexter Lyons](https://naaim.org/tag/dexter-lyons/) - [Ryan Redfern](https://naaim.org/tag/ryan-redfern/) - [Craig Thompson](https://naaim.org/tag/craig-thompson/) - [NAAIM Exposure Index](https://naaim.org/tag/naaim-exposure-index/) - [NAAIM Dynamic Allocation Model](https://naaim.org/tag/naaim-dynamic-allocation-model/) - [James Lee](https://naaim.org/tag/james-lee/) - [Inflation](https://naaim.org/tag/inflation/) - [Recession](https://naaim.org/tag/recession/) - [Federal Reserve](https://naaim.org/tag/federal-reserve/) - [Fed](https://naaim.org/tag/fed/) - [Rate Hikes](https://naaim.org/tag/rate-hikes/) - [Economy](https://naaim.org/tag/economy/) - [Jay Powell](https://naaim.org/tag/jay-powell/) - [Bear Market](https://naaim.org/tag/bear-market/) - [Heritage Capital Research](https://naaim.org/tag/heritage-capital-research/) - [Heritage Capital LLC](https://naaim.org/tag/heritage-capital-llc/) - [RGB Capital Group](https://naaim.org/tag/rgb-capital-group/) - [Shadowridge Asset Management](https://naaim.org/tag/shadowridge-asset-management/) - [Bills Asset Management](https://naaim.org/tag/bills-asset-management/) - [Issachar Fund](https://naaim.org/tag/issachar-fund/) - [Jim Lee](https://naaim.org/tag/jim-lee/) - [Stratfi](https://naaim.org/tag/stratfi/) - [Asset Solutions](https://naaim.org/tag/asset-solutions/) - [William Hepburn](https://naaim.org/tag/william-hepburn/) - [Asher Rogovy](https://naaim.org/tag/asher-rogovy/) - [Magnifina](https://naaim.org/tag/magnifina/) - [Ben Reppond](https://naaim.org/tag/ben-reppond/) - [Reppond Investments](https://naaim.org/tag/reppond-investments/) - [Euan Sinclair](https://naaim.org/tag/euan-sinclair/) - [Hull Tactical](https://naaim.org/tag/hull-tactical/) ## Levels - [Gold](https://naaim.org/levels/gold/) - [Platinum](https://naaim.org/levels/platinum/) - [Silver](https://naaim.org/levels/silver/) - [Innovation](https://naaim.org/levels/innovation/) ## Years - [2013](https://naaim.org/wpyear/2013/) - [2012](https://naaim.org/wpyear/2012/) - [2010](https://naaim.org/wpyear/2010/) - [2011](https://naaim.org/wpyear/2011/) - [2009](https://naaim.org/wpyear/2009/) - [2015](https://naaim.org/wpyear/2015/) - [2014](https://naaim.org/wpyear/2014/) - [2016](https://naaim.org/wpyear/2016/) - [2017](https://naaim.org/wpyear/2017/) - NAAIM Founders Award Papers – 2017 - [2018](https://naaim.org/wpyear/2018/) - NAAIM Founders Award Papers – 2018 - [2019](https://naaim.org/wpyear/2019/) - NAAIM Founders Award Papers – 2019 - [2020](https://naaim.org/wpyear/2020/) - [2021](https://naaim.org/wpyear/2021/) - NAAIM Founders Award Papers – 2021 - [2022](https://naaim.org/wpyear/2022/) - NAAIM Founders Award Papers – 2022 - [2023](https://naaim.org/wpyear/2023/) - NAAIM Founders Award Papers – 2023 - [2024](https://naaim.org/wpyear/2024/) - NAAIM Founders Award Papers – 2024 - [2025](https://naaim.org/wpyear/2025/) - [2026](https://naaim.org/wpyear/2026/)