id	sid	tid	token	lemma	pos
fsr-3131	1	1	portfolio	portfolio	NOUN
fsr-3131	1	2	performance	performance	NOUN
fsr-3131	1	3	with	with	ADP
fsr-3131	1	4	inverse	inverse	NOUN
fsr-3131	1	5	and	and	CCONJ
fsr-3131	1	6	leveraged	leverage	VERB
fsr-3131	1	7	etfs	etfs	PROPN
fsr-3131	1	8	james	james	PROPN
fsr-3131	1	9	a.	a.	PROPN
fsr-3131	1	10	dilellioa	dilellioa	PROPN
fsr-3131	1	11	,	,	PUNCT
fsr-3131	1	12	*	*	PROPN
fsr-3131	1	13	,	,	PUNCT
fsr-3131	1	14	rick	rick	PROPN
fsr-3131	1	15	hessea	hessea	PROPN
fsr-3131	1	16	,	,	PUNCT
fsr-3131	1	17	darrol	darrol	NOUN
fsr-3131	1	18	j.	j.	PROPN
fsr-3131	1	19	stanleya	stanleya	PROPN
fsr-3131	1	20	agraziadio	agraziadio	PROPN
fsr-3131	1	21	school	school	NOUN
fsr-3131	1	22	of	of	ADP
fsr-3131	1	23	business	business	NOUN
fsr-3131	1	24	and	and	CCONJ
fsr-3131	1	25	management	management	NOUN
fsr-3131	1	26	,	,	PUNCT
fsr-3131	1	27	pepperdine	pepperdine	PROPN
fsr-3131	1	28	university	university	PROPN
fsr-3131	1	29	,	,	PUNCT
fsr-3131	1	30	24255	24255	NUM
fsr-3131	1	31	pacific	pacific	PROPN
fsr-3131	1	32	coast	coast	PROPN
fsr-3131	1	33	highway	highway	PROPN
fsr-3131	1	34	,	,	PUNCT
fsr-3131	1	35	malibu	malibu	NOUN
fsr-3131	1	36	,	,	PUNCT
fsr-3131	1	37	ca	ca	NOUN
fsr-3131	1	38	90263	90263	NUM
fsr-3131	1	39	,	,	PUNCT
fsr-3131	1	40	usa	usa	PROPN
fsr-3131	1	41	abstract	abstract	ADJ
fsr-3131	1	42	turbulent	turbulent	ADJ
fsr-3131	1	43	economic	economic	ADJ
fsr-3131	1	44	and	and	CCONJ
fsr-3131	1	45	financial	financial	ADJ
fsr-3131	1	46	times	time	NOUN
fsr-3131	1	47	require	require	VERB
fsr-3131	1	48	investors	investor	NOUN
fsr-3131	1	49	and	and	CCONJ
fsr-3131	1	50	financial	financial	ADJ
fsr-3131	1	51	planners	planner	NOUN
fsr-3131	1	52	to	to	PART
fsr-3131	1	53	investigate	investigate	VERB
fsr-3131	1	54	new	new	ADJ
fsr-3131	1	55	ways	way	NOUN
fsr-3131	1	56	to	to	PART
fsr-3131	1	57	handle	handle	VERB
fsr-3131	1	58	the	the	DET
fsr-3131	1	59	goal	goal	NOUN
fsr-3131	1	60	of	of	ADP
fsr-3131	1	61	wealth	wealth	NOUN
fsr-3131	1	62	maximization	maximization	NOUN
fsr-3131	1	63	.	.	PUNCT
fsr-3131	2	1	this	this	DET
fsr-3131	2	2	article	article	NOUN
fsr-3131	2	3	investigates	investigate	VERB
fsr-3131	2	4	passive	passive	ADJ
fsr-3131	2	5	investment	investment	NOUN
fsr-3131	2	6	strategies	strategy	NOUN
fsr-3131	2	7	that	that	PRON
fsr-3131	2	8	use	use	VERB
fsr-3131	2	9	inverse	inverse	NOUN
fsr-3131	2	10	or	or	CCONJ
fsr-3131	2	11	leveraged	leveraged	ADJ
fsr-3131	2	12	equity	equity	NOUN
fsr-3131	2	13	exchanged	exchange	VERB
fsr-3131	2	14	-	-	PUNCT
fsr-3131	2	15	traded	trade	VERB
fsr-3131	2	16	funds	fund	NOUN
fsr-3131	2	17	(	(	PUNCT
fsr-3131	2	18	etfs	etfs	PROPN
fsr-3131	2	19	)	)	PUNCT
fsr-3131	2	20	in	in	ADP
fsr-3131	2	21	their	their	PRON
fsr-3131	2	22	asset	asset	NOUN
fsr-3131	2	23	allocation	allocation	NOUN
fsr-3131	2	24	,	,	PUNCT
fsr-3131	2	25	and	and	CCONJ
fsr-3131	2	26	quantifies	quantify	VERB
fsr-3131	2	27	the	the	DET
fsr-3131	2	28	long	long	ADJ
fsr-3131	2	29	-	-	PUNCT
fsr-3131	2	30	term	term	NOUN
fsr-3131	2	31	impact	impact	NOUN
fsr-3131	2	32	on	on	ADP
fsr-3131	2	33	portfolio	portfolio	NOUN
fsr-3131	2	34	performance	performance	NOUN
fsr-3131	2	35	for	for	ADP
fsr-3131	2	36	the	the	DET
fsr-3131	2	37	purpose	purpose	NOUN
fsr-3131	2	38	of	of	ADP
fsr-3131	2	39	improving	improve	VERB
fsr-3131	2	40	the	the	DET
fsr-3131	2	41	risk	risk	NOUN
fsr-3131	2	42	-	-	PUNCT
fsr-3131	2	43	reward	reward	NOUN
fsr-3131	2	44	tradeoff	tradeoff	NOUN
fsr-3131	2	45	.	.	PUNCT
fsr-3131	3	1	monte	monte	PROPN
fsr-3131	3	2	carlo	carlo	PROPN
fsr-3131	3	3	simulations	simulation	NOUN
fsr-3131	3	4	are	be	AUX
fsr-3131	3	5	used	use	VERB
fsr-3131	3	6	,	,	PUNCT
fsr-3131	3	7	drawing	draw	VERB
fsr-3131	3	8	samples	sample	NOUN
fsr-3131	3	9	from	from	ADP
fsr-3131	3	10	distributions	distribution	NOUN
fsr-3131	3	11	created	create	VERB
fsr-3131	3	12	by	by	ADP
fsr-3131	3	13	two	two	NUM
fsr-3131	3	14	distinct	distinct	ADJ
fsr-3131	3	15	time	time	NOUN
fsr-3131	3	16	periods	period	NOUN
fsr-3131	3	17	of	of	ADP
fsr-3131	3	18	historical	historical	ADJ
fsr-3131	3	19	daily	daily	ADJ
fsr-3131	3	20	market	market	NOUN
fsr-3131	3	21	returns	return	NOUN
fsr-3131	3	22	.	.	PUNCT
fsr-3131	4	1	the	the	DET
fsr-3131	4	2	findings	finding	NOUN
fsr-3131	4	3	suggest	suggest	VERB
fsr-3131	4	4	that	that	SCONJ
fsr-3131	4	5	,	,	PUNCT
fsr-3131	4	6	whereas	whereas	SCONJ
fsr-3131	4	7	these	these	DET
fsr-3131	4	8	products	product	NOUN
fsr-3131	4	9	are	be	AUX
fsr-3131	4	10	generally	generally	ADV
fsr-3131	4	11	not	not	PART
fsr-3131	4	12	recommended	recommend	VERB
fsr-3131	4	13	within	within	ADP
fsr-3131	4	14	long	long	ADJ
fsr-3131	4	15	-	-	PUNCT
fsr-3131	4	16	term	term	NOUN
fsr-3131	4	17	passive	passive	ADJ
fsr-3131	4	18	investment	investment	NOUN
fsr-3131	4	19	strategies	strategy	NOUN
fsr-3131	4	20	,	,	PUNCT
fsr-3131	4	21	potential	potential	ADJ
fsr-3131	4	22	diversification	diversification	NOUN
fsr-3131	4	23	benefits	benefit	NOUN
fsr-3131	4	24	exist	exist	VERB
fsr-3131	4	25	,	,	PUNCT
fsr-3131	4	26	dependent	dependent	ADJ
fsr-3131	4	27	on	on	ADP
fsr-3131	4	28	the	the	DET
fsr-3131	4	29	behavior	behavior	NOUN
fsr-3131	4	30	of	of	ADP
fsr-3131	4	31	equity	equity	NOUN
fsr-3131	4	32	and	and	CCONJ
fsr-3131	4	33	debt	debt	NOUN
fsr-3131	4	34	markets	market	NOUN
fsr-3131	4	35	.	.	PUNCT
fsr-3131	5	1	these	these	DET
fsr-3131	5	2	findings	finding	NOUN
fsr-3131	5	3	could	could	AUX
fsr-3131	5	4	materially	materially	ADV
fsr-3131	5	5	alter	alter	VERB
fsr-3131	5	6	long	long	ADJ
fsr-3131	5	7	-	-	PUNCT
fsr-3131	5	8	term	term	NOUN
fsr-3131	5	9	passive	passive	ADJ
fsr-3131	5	10	portfolio	portfolio	NOUN
fsr-3131	5	11	construction	construction	NOUN
fsr-3131	5	12	methods	method	NOUN
fsr-3131	5	13	currently	currently	ADV
fsr-3131	5	14	in	in	ADP
fsr-3131	5	15	use	use	NOUN
fsr-3131	5	16	by	by	ADP
fsr-3131	5	17	financial	financial	ADJ
fsr-3131	5	18	planners	planner	NOUN
fsr-3131	5	19	and	and	CCONJ
fsr-3131	5	20	individual	individual	ADJ
fsr-3131	5	21	investors	investor	NOUN
fsr-3131	5	22	seeking	seek	VERB
fsr-3131	5	23	potential	potential	ADJ
fsr-3131	5	24	diversification	diversification	NOUN
fsr-3131	5	25	benefits	benefit	NOUN
fsr-3131	5	26	using	use	VERB
fsr-3131	5	27	etfs	etfs	NOUN
fsr-3131	5	28	.	.	PUNCT
fsr-3131	6	1	©	©	PROPN
fsr-3131	6	2	2014	2014	NUM
fsr-3131	6	3	academy	academy	NOUN
fsr-3131	6	4	of	of	ADP
fsr-3131	6	5	financial	financial	ADJ
fsr-3131	6	6	services	service	NOUN
fsr-3131	6	7	.	.	PUNCT
fsr-3131	7	1	all	all	DET
fsr-3131	7	2	rights	right	NOUN
fsr-3131	7	3	reserved	reserve	VERB
fsr-3131	7	4	.	.	PUNCT
fsr-3131	8	1	jel	jel	PROPN
fsr-3131	8	2	classification	classification	NOUN
fsr-3131	8	3	:	:	PUNCT
fsr-3131	8	4	g1	g1	NOUN
fsr-3131	8	5	;	;	PUNCT
fsr-3131	8	6	c6	c6	PROPN
fsr-3131	8	7	keywords	keyword	VERB
fsr-3131	8	8	:	:	PUNCT
fsr-3131	8	9	inverse	inverse	NOUN
fsr-3131	8	10	etfs	etfs	NOUN
fsr-3131	8	11	;	;	PUNCT
fsr-3131	8	12	leveraged	leveraged	ADJ
fsr-3131	8	13	etfs	etfs	NOUN
fsr-3131	8	14	;	;	PUNCT
fsr-3131	8	15	diversification	diversification	NOUN
fsr-3131	8	16	;	;	PUNCT
fsr-3131	8	17	portfolio	portfolio	NOUN
fsr-3131	8	18	;	;	PUNCT
fsr-3131	8	19	asset	asset	NOUN
fsr-3131	8	20	allocation	allocation	NOUN
fsr-3131	8	21	1	1	NUM
fsr-3131	8	22	.	.	PUNCT
fsr-3131	8	23	introduction	introduction	NOUN
fsr-3131	8	24	the	the	DET
fsr-3131	8	25	purpose	purpose	NOUN
fsr-3131	8	26	of	of	ADP
fsr-3131	8	27	this	this	DET
fsr-3131	8	28	article	article	NOUN
fsr-3131	8	29	is	be	AUX
fsr-3131	8	30	to	to	PART
fsr-3131	8	31	provide	provide	VERB
fsr-3131	8	32	individual	individual	ADJ
fsr-3131	8	33	investors	investor	NOUN
fsr-3131	8	34	and	and	CCONJ
fsr-3131	8	35	financial	financial	ADJ
fsr-3131	8	36	planners	planner	NOUN
fsr-3131	8	37	with	with	ADP
fsr-3131	8	38	guidance	guidance	NOUN
fsr-3131	8	39	on	on	ADP
fsr-3131	8	40	the	the	DET
fsr-3131	8	41	possible	possible	ADJ
fsr-3131	8	42	use	use	NOUN
fsr-3131	8	43	of	of	ADP
fsr-3131	8	44	inverse	inverse	NOUN
fsr-3131	8	45	and	and	CCONJ
fsr-3131	8	46	leverage	leverage	NOUN
fsr-3131	8	47	financial	financial	ADJ
fsr-3131	8	48	instruments	instrument	NOUN
fsr-3131	8	49	to	to	PART
fsr-3131	8	50	improve	improve	VERB
fsr-3131	8	51	the	the	DET
fsr-3131	8	52	distribution	distribution	NOUN
fsr-3131	8	53	of	of	ADP
fsr-3131	8	54	terminal	terminal	ADJ
fsr-3131	8	55	wealth	wealth	NOUN
fsr-3131	8	56	.	.	PUNCT
fsr-3131	9	1	the	the	DET
fsr-3131	9	2	recent	recent	ADJ
fsr-3131	9	3	economic	economic	ADJ
fsr-3131	9	4	downturn	downturn	NOUN
fsr-3131	9	5	has	have	AUX
fsr-3131	9	6	called	call	VERB
fsr-3131	9	7	into	into	ADP
fsr-3131	9	8	question	question	NOUN
fsr-3131	9	9	the	the	DET
fsr-3131	9	10	effectiveness	effectiveness	NOUN
fsr-3131	9	11	of	of	ADP
fsr-3131	9	12	diversification	diversification	NOUN
fsr-3131	9	13	and	and	CCONJ
fsr-3131	9	14	led	lead	VERB
fsr-3131	9	15	some	some	DET
fsr-3131	9	16	investors	investor	NOUN
fsr-3131	9	17	to	to	PART
fsr-3131	9	18	consider	consider	VERB
fsr-3131	9	19	alternative	alternative	ADJ
fsr-3131	9	20	investments	investment	NOUN
fsr-3131	9	21	as	as	ADP
fsr-3131	9	22	part	part	NOUN
fsr-3131	9	23	of	of	ADP
fsr-3131	9	24	their	their	PRON
fsr-3131	9	25	overall	overall	ADJ
fsr-3131	9	26	portfolio	portfolio	NOUN
fsr-3131	9	27	.	.	PUNCT
fsr-3131	10	1	a	a	DET
fsr-3131	10	2	recent	recent	ADJ
fsr-3131	10	3	study	study	NOUN
fsr-3131	10	4	by	by	ADP
fsr-3131	10	5	arshanapalli	arshanapalli	PROPN
fsr-3131	10	6	et	et	PROPN
fsr-3131	10	7	al	al	PROPN
fsr-3131	10	8	.	.	PROPN
fsr-3131	10	9	(	(	PUNCT
fsr-3131	10	10	2010	2010	NUM
fsr-3131	10	11	)	)	PUNCT
fsr-3131	10	12	shows	show	VERB
fsr-3131	10	13	that	that	SCONJ
fsr-3131	10	14	,	,	PUNCT
fsr-3131	10	15	*	*	PUNCT
fsr-3131	10	16	corresponding	correspond	VERB
fsr-3131	10	17	author	author	NOUN
fsr-3131	10	18	.	.	PUNCT
fsr-3131	11	1	tel	tel	PROPN
fsr-3131	11	2	.	.	PUNCT
fsr-3131	11	3	:	:	PUNCT
fsr-3131	12	1	�	�	PROPN
fsr-3131	12	2	1	1	NUM
fsr-3131	12	3	-	-	SYM
fsr-3131	12	4	714	714	NUM
fsr-3131	12	5	-	-	NUM
fsr-3131	12	6	403	403	NUM
fsr-3131	12	7	-	-	SYM
fsr-3131	12	8	0085	0085	NUM
fsr-3131	12	9	;	;	PUNCT
fsr-3131	12	10	fax	fax	NOUN
fsr-3131	12	11	:	:	PUNCT
fsr-3131	12	12	�	�	PROPN
fsr-3131	12	13	1	1	NUM
fsr-3131	12	14	-	-	SYM
fsr-3131	12	15	949	949	NUM
fsr-3131	12	16	-	-	PUNCT
fsr-3131	12	17	223	223	NUM
fsr-3131	12	18	-	-	SYM
fsr-3131	12	19	2575	2575	NUM
fsr-3131	12	20	.	.	PUNCT
fsr-3131	13	1	e	e	X
fsr-3131	13	2	-	-	NOUN
fsr-3131	13	3	mail	mail	NOUN
fsr-3131	13	4	address	address	NOUN
fsr-3131	13	5	:	:	PUNCT
fsr-3131	13	6	james.dilellio@pepperdine.edu	james.dilellio@pepperdine.edu	PROPN
fsr-3131	13	7	(	(	PUNCT
fsr-3131	13	8	j.	j.	PROPN
fsr-3131	13	9	dilellio	dilellio	PROPN
fsr-3131	13	10	)	)	PUNCT
fsr-3131	13	11	financial	financial	ADJ
fsr-3131	13	12	services	service	NOUN
fsr-3131	13	13	review	review	VERB
fsr-3131	13	14	23	23	NUM
fsr-3131	13	15	(	(	PUNCT
fsr-3131	13	16	2014	2014	NUM
fsr-3131	13	17	)	)	PUNCT
fsr-3131	14	1	123–149	123–149	NUM
fsr-3131	14	2	1057	1057	NUM
fsr-3131	14	3	-	-	SYM
fsr-3131	14	4	0810/14/$	0810/14/$	NUM
fsr-3131	14	5	–	–	PUNCT
fsr-3131	14	6	see	see	VERB
fsr-3131	14	7	front	front	ADJ
fsr-3131	14	8	matter	matter	NOUN
fsr-3131	14	9	©	©	PROPN
fsr-3131	14	10	2014	2014	NUM
fsr-3131	14	11	academy	academy	NOUN
fsr-3131	14	12	of	of	ADP
fsr-3131	14	13	financial	financial	ADJ
fsr-3131	14	14	services	service	NOUN
fsr-3131	14	15	.	.	PUNCT
fsr-3131	15	1	all	all	DET
fsr-3131	15	2	rights	right	NOUN
fsr-3131	15	3	reserved	reserve	VERB
fsr-3131	15	4	.	.	PUNCT
fsr-3131	16	1	although	although	SCONJ
fsr-3131	16	2	more	more	ADV
fsr-3131	16	3	severe	severe	ADJ
fsr-3131	16	4	than	than	ADP
fsr-3131	16	5	many	many	ADJ
fsr-3131	16	6	of	of	ADP
fsr-3131	16	7	the	the	DET
fsr-3131	16	8	bear	bear	NOUN
fsr-3131	16	9	markets	market	NOUN
fsr-3131	16	10	before	before	ADP
fsr-3131	16	11	it	it	PRON
fsr-3131	16	12	,	,	PUNCT
fsr-3131	16	13	the	the	DET
fsr-3131	16	14	recent	recent	ADJ
fsr-3131	16	15	downturn	downturn	NOUN
fsr-3131	16	16	did	do	AUX
fsr-3131	16	17	benefit	benefit	VERB
fsr-3131	16	18	from	from	ADP
fsr-3131	16	19	diversification	diversification	NOUN
fsr-3131	16	20	and	and	CCONJ
fsr-3131	16	21	alternative	alternative	ADJ
fsr-3131	16	22	investments	investment	NOUN
fsr-3131	16	23	such	such	ADJ
fsr-3131	16	24	as	as	ADP
fsr-3131	16	25	gold	gold	NOUN
fsr-3131	16	26	.	.	PUNCT
fsr-3131	17	1	so	so	ADV
fsr-3131	17	2	-	-	PUNCT
fsr-3131	17	3	called	call	VERB
fsr-3131	17	4	“	"	PUNCT
fsr-3131	17	5	wide	wide	ADJ
fsr-3131	17	6	diversification	diversification	NOUN
fsr-3131	17	7	”	"	PUNCT
fsr-3131	17	8	is	be	AUX
fsr-3131	17	9	not	not	PART
fsr-3131	17	10	entirely	entirely	ADV
fsr-3131	17	11	new	new	ADJ
fsr-3131	17	12	(	(	PUNCT
fsr-3131	17	13	mulvey	mulvey	VERB
fsr-3131	17	14	et	et	PROPN
fsr-3131	17	15	al	al	PROPN
fsr-3131	17	16	.	.	PROPN
fsr-3131	17	17	,	,	PUNCT
fsr-3131	17	18	2007	2007	NUM
fsr-3131	17	19	)	)	PUNCT
fsr-3131	17	20	,	,	PUNCT
fsr-3131	17	21	and	and	CCONJ
fsr-3131	17	22	suggests	suggest	VERB
fsr-3131	17	23	that	that	SCONJ
fsr-3131	17	24	increasing	increase	VERB
fsr-3131	17	25	the	the	DET
fsr-3131	17	26	number	number	NOUN
fsr-3131	17	27	of	of	ADP
fsr-3131	17	28	asset	asset	NOUN
fsr-3131	17	29	classes	class	NOUN
fsr-3131	17	30	offers	offer	VERB
fsr-3131	17	31	significant	significant	ADJ
fsr-3131	17	32	benefit	benefit	NOUN
fsr-3131	17	33	.	.	PUNCT
fsr-3131	18	1	ammermann	ammermann	PROPN
fsr-3131	18	2	et	et	PROPN
fsr-3131	18	3	al	al	PROPN
fsr-3131	18	4	.	.	PROPN
fsr-3131	19	1	(	(	PUNCT
fsr-3131	19	2	2011	2011	NUM
fsr-3131	19	3	)	)	PUNCT
fsr-3131	19	4	suggests	suggest	VERB
fsr-3131	19	5	the	the	DET
fsr-3131	19	6	effectiveness	effectiveness	NOUN
fsr-3131	19	7	of	of	ADP
fsr-3131	19	8	a	a	DET
fsr-3131	19	9	style	style	NOUN
fsr-3131	19	10	-	-	PUNCT
fsr-3131	19	11	rotation	rotation	NOUN
fsr-3131	19	12	over	over	ADP
fsr-3131	19	13	sector	sector	NOUN
fsr-3131	19	14	/	/	SYM
fsr-3131	19	15	industry	industry	NOUN
fsr-3131	19	16	rotation	rotation	NOUN
fsr-3131	19	17	using	use	VERB
fsr-3131	19	18	exchange	exchange	NOUN
fsr-3131	19	19	-	-	PUNCT
fsr-3131	19	20	traded	trade	VERB
fsr-3131	19	21	funds	fund	NOUN
fsr-3131	19	22	(	(	PUNCT
fsr-3131	19	23	etfs	etfs	PROPN
fsr-3131	19	24	)	)	PUNCT
fsr-3131	19	25	as	as	ADP
fsr-3131	19	26	a	a	DET
fsr-3131	19	27	long	long	ADV
fsr-3131	19	28	-	-	PUNCT
fsr-3131	19	29	flat	flat	ADJ
fsr-3131	19	30	or	or	CCONJ
fsr-3131	19	31	synthetic	synthetic	ADJ
fsr-3131	19	32	put	put	VERB
fsr-3131	19	33	equity	equity	NOUN
fsr-3131	19	34	strategy	strategy	NOUN
fsr-3131	19	35	whereas	whereas	SCONJ
fsr-3131	19	36	johnston	johnston	PROPN
fsr-3131	19	37	et	et	PROPN
fsr-3131	19	38	al	al	PROPN
fsr-3131	19	39	.	.	PROPN
fsr-3131	20	1	(	(	PUNCT
fsr-3131	20	2	2013	2013	NUM
fsr-3131	20	3	)	)	PUNCT
fsr-3131	20	4	suggested	suggest	VERB
fsr-3131	20	5	portfolio	portfolio	NOUN
fsr-3131	20	6	insurance	insurance	NOUN
fsr-3131	20	7	as	as	ADP
fsr-3131	20	8	an	an	DET
fsr-3131	20	9	alternative	alternative	NOUN
fsr-3131	20	10	.	.	PUNCT
fsr-3131	21	1	however	however	ADV
fsr-3131	21	2	,	,	PUNCT
fsr-3131	21	3	the	the	DET
fsr-3131	21	4	use	use	NOUN
fsr-3131	21	5	of	of	ADP
fsr-3131	21	6	inverse	inverse	NOUN
fsr-3131	21	7	and	and	CCONJ
fsr-3131	21	8	leveraged	leveraged	ADJ
fsr-3131	21	9	products	product	NOUN
fsr-3131	21	10	as	as	ADP
fsr-3131	21	11	a	a	DET
fsr-3131	21	12	new	new	ADJ
fsr-3131	21	13	asset	asset	NOUN
fsr-3131	21	14	class	class	NOUN
fsr-3131	21	15	in	in	ADP
fsr-3131	21	16	a	a	DET
fsr-3131	21	17	diversified	diversified	ADJ
fsr-3131	21	18	portfolio	portfolio	NOUN
fsr-3131	21	19	has	have	VERB
fsr-3131	21	20	yet	yet	ADV
fsr-3131	21	21	to	to	PART
fsr-3131	21	22	be	be	AUX
fsr-3131	21	23	adequately	adequately	ADV
fsr-3131	21	24	examined	examine	VERB
fsr-3131	21	25	.	.	PUNCT
fsr-3131	22	1	the	the	DET
fsr-3131	22	2	results	result	NOUN
fsr-3131	22	3	shown	show	VERB
fsr-3131	22	4	here	here	ADV
fsr-3131	22	5	represent	represent	VERB
fsr-3131	22	6	a	a	DET
fsr-3131	22	7	first	first	ADJ
fsr-3131	22	8	attempt	attempt	NOUN
fsr-3131	22	9	to	to	PART
fsr-3131	22	10	quantify	quantify	VERB
fsr-3131	22	11	their	their	PRON
fsr-3131	22	12	long	long	ADJ
fsr-3131	22	13	-	-	PUNCT
fsr-3131	22	14	term	term	NOUN
fsr-3131	22	15	impact	impact	NOUN
fsr-3131	22	16	for	for	ADP
fsr-3131	22	17	passive	passive	ADJ
fsr-3131	22	18	investors	investor	NOUN
fsr-3131	22	19	seeking	seek	VERB
fsr-3131	22	20	improved	improved	ADJ
fsr-3131	22	21	diversification	diversification	NOUN
fsr-3131	22	22	.	.	PUNCT
fsr-3131	23	1	lack	lack	NOUN
fsr-3131	23	2	of	of	ADP
fsr-3131	23	3	study	study	NOUN
fsr-3131	23	4	at	at	ADP
fsr-3131	23	5	a	a	DET
fsr-3131	23	6	portfolio	portfolio	NOUN
fsr-3131	23	7	level	level	NOUN
fsr-3131	23	8	does	do	AUX
fsr-3131	23	9	not	not	PART
fsr-3131	23	10	suggest	suggest	VERB
fsr-3131	23	11	little	little	ADJ
fsr-3131	23	12	is	be	AUX
fsr-3131	23	13	known	know	VERB
fsr-3131	23	14	about	about	ADP
fsr-3131	23	15	the	the	DET
fsr-3131	23	16	impact	impact	NOUN
fsr-3131	23	17	of	of	ADP
fsr-3131	23	18	holding	hold	VERB
fsr-3131	23	19	these	these	DET
fsr-3131	23	20	types	type	NOUN
fsr-3131	23	21	of	of	ADP
fsr-3131	23	22	investments	investment	NOUN
fsr-3131	23	23	long	long	ADJ
fsr-3131	23	24	-	-	PUNCT
fsr-3131	23	25	term	term	NOUN
fsr-3131	23	26	.	.	PUNCT
fsr-3131	24	1	to	to	ADP
fsr-3131	24	2	the	the	DET
fsr-3131	24	3	contrary	contrary	NOUN
fsr-3131	24	4	,	,	PUNCT
fsr-3131	24	5	a	a	DET
fsr-3131	24	6	comprehensive	comprehensive	ADJ
fsr-3131	24	7	study	study	NOUN
fsr-3131	24	8	by	by	ADP
fsr-3131	24	9	cheng	cheng	PROPN
fsr-3131	24	10	and	and	CCONJ
fsr-3131	24	11	madhaven	madhaven	PROPN
fsr-3131	24	12	(	(	PUNCT
fsr-3131	24	13	2009	2009	NUM
fsr-3131	24	14	)	)	PUNCT
fsr-3131	24	15	shows	show	VERB
fsr-3131	24	16	how	how	SCONJ
fsr-3131	24	17	inverse	inverse	ADJ
fsr-3131	24	18	etfs	etfs	NOUN
fsr-3131	24	19	need	need	VERB
fsr-3131	24	20	to	to	PART
fsr-3131	24	21	be	be	AUX
fsr-3131	24	22	rebalanced	rebalance	VERB
fsr-3131	24	23	on	on	ADP
fsr-3131	24	24	a	a	DET
fsr-3131	24	25	daily	daily	ADJ
fsr-3131	24	26	basis	basis	NOUN
fsr-3131	24	27	to	to	PART
fsr-3131	24	28	maintain	maintain	VERB
fsr-3131	24	29	a	a	DET
fsr-3131	24	30	constant	constant	ADJ
fsr-3131	24	31	leverage	leverage	NOUN
fsr-3131	24	32	,	,	PUNCT
fsr-3131	24	33	and	and	CCONJ
fsr-3131	24	34	how	how	SCONJ
fsr-3131	24	35	this	this	PRON
fsr-3131	24	36	can	can	AUX
fsr-3131	24	37	lead	lead	VERB
fsr-3131	24	38	to	to	ADP
fsr-3131	24	39	wealth	wealth	NOUN
fsr-3131	24	40	destruction	destruction	NOUN
fsr-3131	24	41	.	.	PUNCT
fsr-3131	25	1	this	this	DET
fsr-3131	25	2	wealth	wealth	NOUN
fsr-3131	25	3	destruction	destruction	NOUN
fsr-3131	25	4	occurs	occur	VERB
fsr-3131	25	5	largely	largely	ADV
fsr-3131	25	6	because	because	SCONJ
fsr-3131	25	7	of	of	ADP
fsr-3131	25	8	the	the	DET
fsr-3131	25	9	resulting	result	VERB
fsr-3131	25	10	path	path	NOUN
fsr-3131	25	11	dependence	dependence	NOUN
fsr-3131	25	12	on	on	ADP
fsr-3131	25	13	accumulated	accumulate	VERB
fsr-3131	25	14	wealth	wealth	NOUN
fsr-3131	25	15	that	that	PRON
fsr-3131	25	16	can	can	AUX
fsr-3131	25	17	easily	easily	ADV
fsr-3131	25	18	diverge	diverge	VERB
fsr-3131	25	19	from	from	ADP
fsr-3131	25	20	the	the	DET
fsr-3131	25	21	underlying	underlying	ADJ
fsr-3131	25	22	index	index	NOUN
fsr-3131	25	23	over	over	ADP
fsr-3131	25	24	longer	long	ADV
fsr-3131	25	25	holding	hold	VERB
fsr-3131	25	26	periods	period	NOUN
fsr-3131	25	27	.	.	PUNCT
fsr-3131	26	1	additionally	additionally	ADV
fsr-3131	26	2	,	,	PUNCT
fsr-3131	26	3	lu	lu	PROPN
fsr-3131	26	4	,	,	PUNCT
fsr-3131	26	5	wang	wang	PROPN
fsr-3131	26	6	,	,	PUNCT
fsr-3131	26	7	and	and	CCONJ
fsr-3131	26	8	zhang	zhang	PROPN
fsr-3131	26	9	(	(	PUNCT
fsr-3131	26	10	2012	2012	NUM
fsr-3131	26	11	)	)	PUNCT
fsr-3131	26	12	show	show	VERB
fsr-3131	26	13	how	how	SCONJ
fsr-3131	26	14	the	the	DET
fsr-3131	26	15	longer	long	ADJ
fsr-3131	26	16	term	term	NOUN
fsr-3131	26	17	performance	performance	NOUN
fsr-3131	26	18	diverges	diverge	VERB
fsr-3131	26	19	from	from	ADP
fsr-3131	26	20	the	the	DET
fsr-3131	26	21	benchmark	benchmark	NOUN
fsr-3131	26	22	through	through	ADP
fsr-3131	26	23	periods	period	NOUN
fsr-3131	26	24	of	of	ADP
fsr-3131	26	25	up	up	ADP
fsr-3131	26	26	to	to	PART
fsr-3131	26	27	one	one	NUM
fsr-3131	26	28	year	year	NOUN
fsr-3131	26	29	,	,	PUNCT
fsr-3131	26	30	and	and	CCONJ
fsr-3131	26	31	caution	caution	VERB
fsr-3131	26	32	investors	investor	NOUN
fsr-3131	26	33	on	on	ADP
fsr-3131	26	34	their	their	PRON
fsr-3131	26	35	use	use	NOUN
fsr-3131	26	36	as	as	ADP
fsr-3131	26	37	substitutes	substitute	NOUN
fsr-3131	26	38	for	for	ADP
fsr-3131	26	39	benchmark	benchmark	NOUN
fsr-3131	26	40	indices	index	NOUN
fsr-3131	26	41	.	.	PUNCT
fsr-3131	27	1	this	this	DET
fsr-3131	27	2	wealth	wealth	NOUN
fsr-3131	27	3	destruction	destruction	NOUN
fsr-3131	27	4	is	be	AUX
fsr-3131	27	5	also	also	ADV
fsr-3131	27	6	aggravated	aggravate	VERB
fsr-3131	27	7	by	by	ADP
fsr-3131	27	8	higher	high	ADJ
fsr-3131	27	9	volatility	volatility	NOUN
fsr-3131	27	10	,	,	PUNCT
fsr-3131	27	11	although	although	SCONJ
fsr-3131	27	12	trainor	trainor	NOUN
fsr-3131	27	13	and	and	CCONJ
fsr-3131	27	14	baryla	baryla	NOUN
fsr-3131	27	15	(	(	PUNCT
fsr-3131	27	16	2008	2008	NUM
fsr-3131	27	17	)	)	PUNCT
fsr-3131	27	18	notes	note	VERB
fsr-3131	27	19	an	an	DET
fsr-3131	27	20	interesting	interesting	ADJ
fsr-3131	27	21	corollary	corollary	NOUN
fsr-3131	27	22	that	that	PRON
fsr-3131	27	23	suggests	suggest	VERB
fsr-3131	27	24	some	some	PRON
fsr-3131	27	25	of	of	ADP
fsr-3131	27	26	these	these	DET
fsr-3131	27	27	leveraged	leverage	VERB
fsr-3131	27	28	etfs	etfs	NOUN
fsr-3131	27	29	can	can	AUX
fsr-3131	27	30	outperform	outperform	VERB
fsr-3131	27	31	their	their	PRON
fsr-3131	27	32	respective	respective	ADJ
fsr-3131	27	33	benchmarks	benchmark	NOUN
fsr-3131	27	34	in	in	ADP
fsr-3131	27	35	periods	period	NOUN
fsr-3131	27	36	of	of	ADP
fsr-3131	27	37	low	low	ADJ
fsr-3131	27	38	volatility	volatility	NOUN
fsr-3131	27	39	.	.	PUNCT
fsr-3131	28	1	giese	giese	NOUN
fsr-3131	28	2	(	(	PUNCT
fsr-3131	28	3	2010	2010	NUM
fsr-3131	28	4	)	)	PUNCT
fsr-3131	28	5	aptly	aptly	ADV
fsr-3131	28	6	summarizes	summarize	VERB
fsr-3131	28	7	the	the	DET
fsr-3131	28	8	benefit	benefit	NOUN
fsr-3131	28	9	of	of	ADP
fsr-3131	28	10	holding	hold	VERB
fsr-3131	28	11	leveraged	leveraged	ADJ
fsr-3131	28	12	funds	fund	NOUN
fsr-3131	28	13	in	in	ADP
fsr-3131	28	14	bullish	bullish	ADJ
fsr-3131	28	15	markets	market	NOUN
fsr-3131	28	16	,	,	PUNCT
fsr-3131	28	17	as	as	ADV
fsr-3131	28	18	well	well	ADV
fsr-3131	28	19	as	as	ADP
fsr-3131	28	20	their	their	PRON
fsr-3131	28	21	benefit	benefit	NOUN
fsr-3131	28	22	as	as	ADP
fsr-3131	28	23	an	an	DET
fsr-3131	28	24	investment	investment	NOUN
fsr-3131	28	25	product	product	NOUN
fsr-3131	28	26	remaining	remain	VERB
fsr-3131	28	27	positive	positive	ADJ
fsr-3131	28	28	,	,	PUNCT
fsr-3131	28	29	unlike	unlike	ADP
fsr-3131	28	30	a	a	DET
fsr-3131	28	31	short	short	ADJ
fsr-3131	28	32	position	position	NOUN
fsr-3131	28	33	,	,	PUNCT
fsr-3131	28	34	but	but	CCONJ
fsr-3131	28	35	highlights	highlight	NOUN
fsr-3131	28	36	these	these	DET
fsr-3131	28	37	benefits	benefit	NOUN
fsr-3131	28	38	are	be	AUX
fsr-3131	28	39	offset	offset	VERB
fsr-3131	28	40	by	by	ADP
fsr-3131	28	41	increased	increase	VERB
fsr-3131	28	42	performance	performance	NOUN
fsr-3131	28	43	volatility	volatility	NOUN
fsr-3131	28	44	.	.	PUNCT
fsr-3131	29	1	this	this	DET
fsr-3131	29	2	article	article	NOUN
fsr-3131	29	3	is	be	AUX
fsr-3131	29	4	organized	organize	VERB
fsr-3131	29	5	as	as	SCONJ
fsr-3131	29	6	follows	follow	VERB
fsr-3131	29	7	:	:	PUNCT
fsr-3131	29	8	section	section	NOUN
fsr-3131	29	9	2	2	NUM
fsr-3131	29	10	discusses	discuss	VERB
fsr-3131	29	11	the	the	DET
fsr-3131	29	12	background	background	NOUN
fsr-3131	29	13	and	and	CCONJ
fsr-3131	29	14	history	history	NOUN
fsr-3131	29	15	of	of	ADP
fsr-3131	29	16	inverse	inverse	NOUN
fsr-3131	29	17	and	and	CCONJ
fsr-3131	29	18	leveraged	leveraged	ADJ
fsr-3131	29	19	funds	fund	NOUN
fsr-3131	29	20	.	.	PUNCT
fsr-3131	30	1	section	section	NOUN
fsr-3131	30	2	3	3	NUM
fsr-3131	30	3	states	state	VERB
fsr-3131	30	4	the	the	DET
fsr-3131	30	5	research	research	NOUN
fsr-3131	30	6	hypothesis	hypothesis	NOUN
fsr-3131	30	7	,	,	PUNCT
fsr-3131	30	8	and	and	CCONJ
fsr-3131	30	9	section	section	NOUN
fsr-3131	30	10	4	4	NUM
fsr-3131	30	11	describes	describe	VERB
fsr-3131	30	12	the	the	DET
fsr-3131	30	13	methods	method	NOUN
fsr-3131	30	14	used	use	VERB
fsr-3131	30	15	to	to	PART
fsr-3131	30	16	test	test	VERB
fsr-3131	30	17	our	our	PRON
fsr-3131	30	18	hypothesis	hypothesis	NOUN
fsr-3131	30	19	.	.	PUNCT
fsr-3131	31	1	section	section	NOUN
fsr-3131	31	2	5	5	NUM
fsr-3131	31	3	presents	present	VERB
fsr-3131	31	4	the	the	DET
fsr-3131	31	5	terminal	terminal	ADJ
fsr-3131	31	6	wealth	wealth	NOUN
fsr-3131	31	7	distributions	distribution	NOUN
fsr-3131	31	8	for	for	ADP
fsr-3131	31	9	a	a	DET
fsr-3131	31	10	large	large	ADJ
fsr-3131	31	11	number	number	NOUN
fsr-3131	31	12	of	of	ADP
fsr-3131	31	13	simulated	simulate	VERB
fsr-3131	31	14	returns	return	NOUN
fsr-3131	31	15	randomly	randomly	ADV
fsr-3131	31	16	sampled	sample	VERB
fsr-3131	31	17	from	from	ADP
fsr-3131	31	18	non	non	ADJ
fsr-3131	31	19	-	-	ADJ
fsr-3131	31	20	overlapping	overlapping	ADJ
fsr-3131	31	21	historical	historical	ADJ
fsr-3131	31	22	stock	stock	NOUN
fsr-3131	31	23	and	and	CCONJ
fsr-3131	31	24	bond	bond	NOUN
fsr-3131	31	25	time	time	NOUN
fsr-3131	31	26	series	series	PROPN
fsr-3131	31	27	.	.	PUNCT
fsr-3131	32	1	section	section	NOUN
fsr-3131	32	2	6	6	NUM
fsr-3131	32	3	highlights	highlight	NOUN
fsr-3131	32	4	the	the	DET
fsr-3131	32	5	relevant	relevant	ADJ
fsr-3131	32	6	statistics	statistic	NOUN
fsr-3131	32	7	from	from	ADP
fsr-3131	32	8	the	the	DET
fsr-3131	32	9	simulated	simulate	VERB
fsr-3131	32	10	return	return	NOUN
fsr-3131	32	11	distributions	distribution	NOUN
fsr-3131	32	12	and	and	CCONJ
fsr-3131	32	13	also	also	ADV
fsr-3131	32	14	quantifies	quantify	VERB
fsr-3131	32	15	risk	risk	NOUN
fsr-3131	32	16	-	-	PUNCT
fsr-3131	32	17	adjusted	adjust	VERB
fsr-3131	32	18	returns	return	NOUN
fsr-3131	32	19	using	use	VERB
fsr-3131	32	20	the	the	DET
fsr-3131	32	21	sharpe	sharpe	NOUN
fsr-3131	32	22	ratio	ratio	NOUN
fsr-3131	32	23	.	.	PUNCT
fsr-3131	33	1	section	section	NOUN
fsr-3131	33	2	7	7	NUM
fsr-3131	33	3	enhances	enhance	VERB
fsr-3131	33	4	the	the	DET
fsr-3131	33	5	results	result	NOUN
fsr-3131	33	6	from	from	ADP
fsr-3131	33	7	section	section	NOUN
fsr-3131	33	8	6	6	NUM
fsr-3131	33	9	by	by	ADP
fsr-3131	33	10	considering	consider	VERB
fsr-3131	33	11	other	other	ADJ
fsr-3131	33	12	investment	investment	NOUN
fsr-3131	33	13	options	option	NOUN
fsr-3131	33	14	for	for	ADP
fsr-3131	33	15	stock	stock	NOUN
fsr-3131	33	16	and	and	CCONJ
fsr-3131	33	17	bond	bond	NOUN
fsr-3131	33	18	funds	fund	NOUN
fsr-3131	33	19	.	.	PUNCT
fsr-3131	34	1	the	the	DET
fsr-3131	34	2	article	article	NOUN
fsr-3131	34	3	concludes	conclude	VERB
fsr-3131	34	4	with	with	ADP
fsr-3131	34	5	section	section	NOUN
fsr-3131	34	6	8	8	NUM
fsr-3131	34	7	.	.	NOUN
fsr-3131	35	1	2	2	NUM
fsr-3131	35	2	.	.	X
fsr-3131	35	3	background	background	NOUN
fsr-3131	35	4	of	of	ADP
fsr-3131	35	5	inverse	inverse	NOUN
fsr-3131	35	6	and	and	CCONJ
fsr-3131	35	7	leveraged	leveraged	ADJ
fsr-3131	35	8	etfs	etfs	NOUN
fsr-3131	35	9	although	although	SCONJ
fsr-3131	35	10	the	the	DET
fsr-3131	35	11	first	first	ADJ
fsr-3131	35	12	inverse	inverse	ADJ
fsr-3131	35	13	etf	etf	NOUN
fsr-3131	35	14	came	come	VERB
fsr-3131	35	15	into	into	ADP
fsr-3131	35	16	existence	existence	NOUN
fsr-3131	35	17	in	in	ADP
fsr-3131	35	18	2007	2007	NUM
fsr-3131	35	19	,	,	PUNCT
fsr-3131	35	20	both	both	CCONJ
fsr-3131	35	21	inverse	inverse	NOUN
fsr-3131	35	22	and	and	CCONJ
fsr-3131	35	23	leveraged	leverage	VERB
fsr-3131	35	24	open	open	ADJ
fsr-3131	35	25	-	-	PUNCT
fsr-3131	35	26	ended	end	VERB
fsr-3131	35	27	mutual	mutual	ADJ
fsr-3131	35	28	funds	fund	NOUN
fsr-3131	35	29	have	have	AUX
fsr-3131	35	30	been	be	AUX
fsr-3131	35	31	in	in	ADP
fsr-3131	35	32	existence	existence	NOUN
fsr-3131	35	33	far	far	ADV
fsr-3131	35	34	longer	long	ADV
fsr-3131	35	35	.	.	PUNCT
fsr-3131	36	1	since	since	SCONJ
fsr-3131	36	2	1997	1997	NUM
fsr-3131	36	3	,	,	PUNCT
fsr-3131	36	4	profunds	profund	NOUN
fsr-3131	36	5	has	have	AUX
fsr-3131	36	6	offered	offer	VERB
fsr-3131	36	7	an	an	DET
fsr-3131	36	8	inverse	inverse	NOUN
fsr-3131	36	9	and	and	CCONJ
fsr-3131	36	10	leveraged	leveraged	ADJ
fsr-3131	36	11	version	version	NOUN
fsr-3131	36	12	of	of	ADP
fsr-3131	36	13	the	the	DET
fsr-3131	36	14	s&p	s&p	PROPN
fsr-3131	36	15	500	500	NUM
fsr-3131	36	16	index	index	NOUN
fsr-3131	36	17	through	through	ADP
fsr-3131	36	18	two	two	NUM
fsr-3131	36	19	mutual	mutual	ADJ
fsr-3131	36	20	funds	fund	NOUN
fsr-3131	36	21	.	.	PUNCT
fsr-3131	37	1	by	by	ADP
fsr-3131	37	2	mid-2010	mid-2010	NOUN
fsr-3131	37	3	,	,	PUNCT
fsr-3131	37	4	150	150	NUM
fsr-3131	37	5	different	different	ADJ
fsr-3131	37	6	inverse	inverse	NOUN
fsr-3131	37	7	and	and	CCONJ
fsr-3131	37	8	leveraged	leveraged	ADJ
fsr-3131	37	9	etfs	etfs	NOUN
fsr-3131	37	10	were	be	AUX
fsr-3131	37	11	available	available	ADJ
fsr-3131	37	12	with	with	ADP
fsr-3131	37	13	a	a	DET
fsr-3131	37	14	total	total	NOUN
fsr-3131	37	15	of	of	ADP
fsr-3131	37	16	$	$	SYM
fsr-3131	37	17	30b	30b	NUM
fsr-3131	37	18	of	of	ADP
fsr-3131	37	19	assets	asset	NOUN
fsr-3131	37	20	under	under	ADP
fsr-3131	37	21	management	management	NOUN
fsr-3131	37	22	(	(	PUNCT
fsr-3131	37	23	see	see	VERB
fsr-3131	37	24	guedj	guedj	NOUN
fsr-3131	37	25	et	et	PROPN
fsr-3131	37	26	al	al	PROPN
fsr-3131	37	27	.	.	PROPN
fsr-3131	37	28	,	,	PUNCT
fsr-3131	37	29	2010	2010	NUM
fsr-3131	37	30	)	)	PUNCT
fsr-3131	37	31	although	although	SCONJ
fsr-3131	37	32	their	their	PRON
fsr-3131	37	33	track	track	NOUN
fsr-3131	37	34	record	record	NOUN
fsr-3131	37	35	is	be	AUX
fsr-3131	37	36	brief	brief	ADJ
fsr-3131	37	37	,	,	PUNCT
fsr-3131	37	38	the	the	DET
fsr-3131	37	39	history	history	NOUN
fsr-3131	37	40	of	of	ADP
fsr-3131	37	41	these	these	DET
fsr-3131	37	42	products	product	NOUN
fsr-3131	37	43	so	so	ADV
fsr-3131	37	44	far	far	ADV
fsr-3131	37	45	suggests	suggest	VERB
fsr-3131	37	46	that	that	SCONJ
fsr-3131	37	47	they	they	PRON
fsr-3131	37	48	are	be	AUX
fsr-3131	37	49	meeting	meet	VERB
fsr-3131	37	50	the	the	DET
fsr-3131	37	51	objectives	objective	NOUN
fsr-3131	37	52	contained	contain	VERB
fsr-3131	37	53	within	within	ADP
fsr-3131	37	54	their	their	PRON
fsr-3131	37	55	offering	offering	NOUN
fsr-3131	37	56	prospectuses	prospectus	NOUN
fsr-3131	37	57	.	.	PUNCT
fsr-3131	38	1	specifically	specifically	ADV
fsr-3131	38	2	for	for	ADP
fsr-3131	38	3	this	this	DET
fsr-3131	38	4	proposed	propose	VERB
fsr-3131	38	5	research	research	NOUN
fsr-3131	38	6	article	article	NOUN
fsr-3131	38	7	,	,	PUNCT
fsr-3131	38	8	we	we	PRON
fsr-3131	38	9	assume	assume	VERB
fsr-3131	38	10	that	that	SCONJ
fsr-3131	38	11	they	they	PRON
fsr-3131	38	12	effectively	effectively	ADV
fsr-3131	38	13	meet	meet	VERB
fsr-3131	38	14	their	their	PRON
fsr-3131	38	15	daily	daily	ADJ
fsr-3131	38	16	objectives	objective	NOUN
fsr-3131	38	17	of	of	ADP
fsr-3131	38	18	inverse	inverse	NOUN
fsr-3131	38	19	(	(	PUNCT
fsr-3131	38	20	�	�	PROPN
fsr-3131	38	21	1	1	NUM
fsr-3131	38	22	�	�	PROPN
fsr-3131	38	23	)	)	PUNCT
fsr-3131	38	24	or	or	CCONJ
fsr-3131	38	25	double	double	ADJ
fsr-3131	38	26	(	(	PUNCT
fsr-3131	38	27	2	2	NUM
fsr-3131	38	28	�	�	NOUN
fsr-3131	38	29	)	)	PUNCT
fsr-3131	38	30	daily	daily	ADJ
fsr-3131	38	31	returns	return	NOUN
fsr-3131	38	32	of	of	ADP
fsr-3131	38	33	124	124	NUM
fsr-3131	38	34	j.a	j.a	PROPN
fsr-3131	38	35	.	.	PROPN
fsr-3131	38	36	dilellio	dilellio	PROPN
fsr-3131	38	37	,	,	PUNCT
fsr-3131	38	38	r.	r.	PROPN
fsr-3131	38	39	hesse	hesse	PROPN
fsr-3131	38	40	,	,	PUNCT
fsr-3131	38	41	d.j	d.j	PROPN
fsr-3131	38	42	.	.	PROPN
fsr-3131	38	43	stanley	stanley	PROPN
fsr-3131	38	44	/	/	SYM
fsr-3131	38	45	financial	financial	ADJ
fsr-3131	38	46	services	service	NOUN
fsr-3131	38	47	review	review	VERB
fsr-3131	38	48	23	23	NUM
fsr-3131	38	49	(	(	PUNCT
fsr-3131	38	50	2014	2014	NUM
fsr-3131	38	51	)	)	PUNCT
fsr-3131	39	1	123–149	123–149	NUM
fsr-3131	39	2	their	their	PRON
fsr-3131	39	3	underlying	underlying	ADJ
fsr-3131	39	4	index	index	NOUN
fsr-3131	39	5	through	through	ADP
fsr-3131	39	6	the	the	DET
fsr-3131	39	7	use	use	NOUN
fsr-3131	39	8	of	of	ADP
fsr-3131	39	9	swaps	swap	NOUN
fsr-3131	39	10	and	and	CCONJ
fsr-3131	39	11	other	other	ADJ
fsr-3131	39	12	derivative	derivative	ADJ
fsr-3131	39	13	instruments	instrument	NOUN
fsr-3131	39	14	.	.	PUNCT
fsr-3131	40	1	unfortunately	unfortunately	ADV
fsr-3131	40	2	,	,	PUNCT
fsr-3131	40	3	the	the	DET
fsr-3131	40	4	daily	daily	ADJ
fsr-3131	40	5	releveraging	releveraging	NOUN
fsr-3131	40	6	of	of	ADP
fsr-3131	40	7	these	these	DET
fsr-3131	40	8	products	product	NOUN
fsr-3131	40	9	results	result	NOUN
fsr-3131	40	10	in	in	ADP
fsr-3131	40	11	potential	potential	ADJ
fsr-3131	40	12	investment	investment	NOUN
fsr-3131	40	13	management	management	NOUN
fsr-3131	40	14	challenges	challenge	NOUN
fsr-3131	40	15	and	and	CCONJ
fsr-3131	40	16	risks.1	risks.1	NOUN
fsr-3131	40	17	many	many	ADJ
fsr-3131	40	18	researchers	researcher	NOUN
fsr-3131	40	19	,	,	PUNCT
fsr-3131	40	20	including	include	VERB
fsr-3131	40	21	barnhorst	barnhorst	ADV
fsr-3131	40	22	and	and	CCONJ
fsr-3131	40	23	cocozza	cocozza	PROPN
fsr-3131	40	24	(	(	PUNCT
fsr-3131	40	25	2010	2010	NUM
fsr-3131	40	26	)	)	PUNCT
fsr-3131	40	27	,	,	PUNCT
fsr-3131	40	28	cheng	cheng	PROPN
fsr-3131	40	29	and	and	CCONJ
fsr-3131	40	30	madhaven	madhaven	PROPN
fsr-3131	40	31	(	(	PUNCT
fsr-3131	40	32	2009	2009	NUM
fsr-3131	40	33	)	)	PUNCT
fsr-3131	40	34	,	,	PUNCT
fsr-3131	40	35	guedj	guedj	NOUN
fsr-3131	40	36	et	et	PROPN
fsr-3131	40	37	al	al	PROPN
fsr-3131	40	38	.	.	PUNCT
fsr-3131	41	1	(	(	PUNCT
fsr-3131	41	2	2010	2010	NUM
fsr-3131	41	3	)	)	PUNCT
fsr-3131	41	4	,	,	PUNCT
fsr-3131	41	5	trainor	trainor	NOUN
fsr-3131	41	6	and	and	CCONJ
fsr-3131	41	7	baryla	baryla	NOUN
fsr-3131	41	8	(	(	PUNCT
fsr-3131	41	9	2008	2008	NUM
fsr-3131	41	10	)	)	PUNCT
fsr-3131	41	11	,	,	PUNCT
fsr-3131	41	12	and	and	CCONJ
fsr-3131	41	13	lu	lu	VERB
fsr-3131	41	14	et	et	PROPN
fsr-3131	41	15	al	al	PROPN
fsr-3131	41	16	.	.	PROPN
fsr-3131	42	1	(	(	PUNCT
fsr-3131	42	2	2012	2012	NUM
fsr-3131	42	3	)	)	PUNCT
fsr-3131	42	4	have	have	AUX
fsr-3131	42	5	noted	note	VERB
fsr-3131	42	6	that	that	SCONJ
fsr-3131	42	7	daily	daily	ADJ
fsr-3131	42	8	rebalancing	rebalancing	NOUN
fsr-3131	42	9	has	have	AUX
fsr-3131	42	10	tended	tend	VERB
fsr-3131	42	11	to	to	PART
fsr-3131	42	12	reduce	reduce	VERB
fsr-3131	42	13	their	their	PRON
fsr-3131	42	14	stated	state	VERB
fsr-3131	42	15	investment	investment	NOUN
fsr-3131	42	16	effectiveness	effectiveness	NOUN
fsr-3131	42	17	over	over	ADP
fsr-3131	42	18	longer	long	ADV
fsr-3131	42	19	holding	hold	VERB
fsr-3131	42	20	periods	period	NOUN
fsr-3131	42	21	.	.	PUNCT
fsr-3131	43	1	furthermore	furthermore	ADV
fsr-3131	43	2	,	,	PUNCT
fsr-3131	43	3	the	the	DET
fsr-3131	43	4	limited	limited	ADJ
fsr-3131	43	5	history	history	NOUN
fsr-3131	43	6	of	of	ADP
fsr-3131	43	7	these	these	DET
fsr-3131	43	8	products	product	NOUN
fsr-3131	43	9	prevents	prevent	VERB
fsr-3131	43	10	longer	long	ADJ
fsr-3131	43	11	term	term	NOUN
fsr-3131	43	12	studies	study	NOUN
fsr-3131	43	13	of	of	ADP
fsr-3131	43	14	historical	historical	ADJ
fsr-3131	43	15	returns	return	NOUN
fsr-3131	43	16	within	within	ADP
fsr-3131	43	17	a	a	DET
fsr-3131	43	18	diversified	diversified	ADJ
fsr-3131	43	19	portfolio	portfolio	NOUN
fsr-3131	43	20	.	.	PUNCT
fsr-3131	44	1	3	3	X
fsr-3131	44	2	.	.	X
fsr-3131	44	3	research	research	NOUN
fsr-3131	44	4	hypothesis	hypothesis	NOUN
fsr-3131	44	5	this	this	DET
fsr-3131	44	6	research	research	NOUN
fsr-3131	44	7	article	article	NOUN
fsr-3131	44	8	attempts	attempt	VERB
fsr-3131	44	9	to	to	PART
fsr-3131	44	10	uncover	uncover	VERB
fsr-3131	44	11	whether	whether	SCONJ
fsr-3131	44	12	there	there	PRON
fsr-3131	44	13	are	be	VERB
fsr-3131	44	14	any	any	DET
fsr-3131	44	15	potential	potential	ADJ
fsr-3131	44	16	diversification	diversification	NOUN
fsr-3131	44	17	benefits	benefit	NOUN
fsr-3131	44	18	to	to	ADP
fsr-3131	44	19	a	a	DET
fsr-3131	44	20	passively	passively	ADV
fsr-3131	44	21	managed	manage	VERB
fsr-3131	44	22	portfolio	portfolio	NOUN
fsr-3131	44	23	that	that	PRON
fsr-3131	44	24	holds	hold	VERB
fsr-3131	44	25	a	a	DET
fsr-3131	44	26	portion	portion	NOUN
fsr-3131	44	27	of	of	ADP
fsr-3131	44	28	its	its	PRON
fsr-3131	44	29	holdings	holding	NOUN
fsr-3131	44	30	in	in	ADP
fsr-3131	44	31	either	either	CCONJ
fsr-3131	44	32	inverse	inverse	NOUN
fsr-3131	44	33	or	or	CCONJ
fsr-3131	44	34	leveraged	leveraged	ADJ
fsr-3131	44	35	equity	equity	NOUN
fsr-3131	44	36	etfs	etfs	NOUN
fsr-3131	44	37	.	.	PUNCT
fsr-3131	45	1	to	to	PART
fsr-3131	45	2	test	test	VERB
fsr-3131	45	3	this	this	DET
fsr-3131	45	4	hypothesis	hypothesis	NOUN
fsr-3131	45	5	,	,	PUNCT
fsr-3131	45	6	three	three	NUM
fsr-3131	45	7	typical	typical	ADJ
fsr-3131	45	8	long	long	ADJ
fsr-3131	45	9	-	-	PUNCT
fsr-3131	45	10	term	term	NOUN
fsr-3131	45	11	investors	investor	NOUN
fsr-3131	45	12	were	be	AUX
fsr-3131	45	13	considered	consider	VERB
fsr-3131	45	14	who	who	PRON
fsr-3131	45	15	seek	seek	VERB
fsr-3131	45	16	diversification	diversification	NOUN
fsr-3131	45	17	by	by	ADP
fsr-3131	45	18	holding	hold	VERB
fsr-3131	45	19	a	a	DET
fsr-3131	45	20	broad	broad	ADJ
fsr-3131	45	21	stock	stock	NOUN
fsr-3131	45	22	and	and	CCONJ
fsr-3131	45	23	bond	bond	NOUN
fsr-3131	45	24	index	index	NOUN
fsr-3131	45	25	fund	fund	NOUN
fsr-3131	45	26	in	in	ADP
fsr-3131	45	27	a	a	DET
fsr-3131	45	28	tax	tax	NOUN
fsr-3131	45	29	deferred	defer	VERB
fsr-3131	45	30	retirement	retirement	NOUN
fsr-3131	45	31	account	account	NOUN
fsr-3131	45	32	that	that	PRON
fsr-3131	45	33	is	be	AUX
fsr-3131	45	34	rebalanced	rebalance	VERB
fsr-3131	45	35	annually	annually	ADV
fsr-3131	45	36	.	.	PUNCT
fsr-3131	46	1	these	these	DET
fsr-3131	46	2	investors	investor	NOUN
fsr-3131	46	3	were	be	AUX
fsr-3131	46	4	assumed	assume	VERB
fsr-3131	46	5	to	to	PART
fsr-3131	46	6	be	be	AUX
fsr-3131	46	7	representative	representative	NOUN
fsr-3131	46	8	of	of	ADP
fsr-3131	46	9	three	three	NUM
fsr-3131	46	10	separate	separate	ADJ
fsr-3131	46	11	tolerances	tolerance	NOUN
fsr-3131	46	12	to	to	ADP
fsr-3131	46	13	risk	risk	NOUN
fsr-3131	46	14	,	,	PUNCT
fsr-3131	46	15	and	and	CCONJ
fsr-3131	46	16	that	that	SCONJ
fsr-3131	46	17	the	the	DET
fsr-3131	46	18	risk	risk	NOUN
fsr-3131	46	19	tolerance	tolerance	NOUN
fsr-3131	46	20	can	can	AUX
fsr-3131	46	21	be	be	AUX
fsr-3131	46	22	adjusted	adjust	VERB
fsr-3131	46	23	based	base	VERB
fsr-3131	46	24	on	on	ADP
fsr-3131	46	25	their	their	PRON
fsr-3131	46	26	portfolio	portfolio	NOUN
fsr-3131	46	27	exposure	exposure	NOUN
fsr-3131	46	28	to	to	ADP
fsr-3131	46	29	stocks	stock	NOUN
fsr-3131	46	30	and	and	CCONJ
fsr-3131	46	31	bonds	bond	NOUN
fsr-3131	46	32	.	.	PUNCT
fsr-3131	47	1	the	the	DET
fsr-3131	47	2	objective	objective	NOUN
fsr-3131	47	3	is	be	AUX
fsr-3131	47	4	to	to	PART
fsr-3131	47	5	determine	determine	VERB
fsr-3131	47	6	whether	whether	SCONJ
fsr-3131	47	7	there	there	PRON
fsr-3131	47	8	is	be	VERB
fsr-3131	47	9	any	any	DET
fsr-3131	47	10	risk	risk	NOUN
fsr-3131	47	11	-	-	PUNCT
fsr-3131	47	12	return	return	NOUN
fsr-3131	47	13	benefit	benefit	NOUN
fsr-3131	47	14	of	of	ADP
fsr-3131	47	15	these	these	DET
fsr-3131	47	16	products	product	NOUN
fsr-3131	47	17	in	in	ADP
fsr-3131	47	18	a	a	DET
fsr-3131	47	19	diversified	diversified	ADJ
fsr-3131	47	20	portfolio	portfolio	NOUN
fsr-3131	47	21	,	,	PUNCT
fsr-3131	47	22	or	or	CCONJ
fsr-3131	47	23	whether	whether	SCONJ
fsr-3131	47	24	,	,	PUNCT
fsr-3131	47	25	as	as	SCONJ
fsr-3131	47	26	the	the	DET
fsr-3131	47	27	previous	previous	ADJ
fsr-3131	47	28	studies	study	NOUN
fsr-3131	47	29	have	have	AUX
fsr-3131	47	30	shown	show	VERB
fsr-3131	47	31	,	,	PUNCT
fsr-3131	47	32	they	they	PRON
fsr-3131	47	33	should	should	AUX
fsr-3131	47	34	be	be	AUX
fsr-3131	47	35	avoided	avoid	VERB
fsr-3131	47	36	entirely	entirely	ADV
fsr-3131	47	37	by	by	ADP
fsr-3131	47	38	long	long	ADJ
fsr-3131	47	39	-	-	PUNCT
fsr-3131	47	40	term	term	NOUN
fsr-3131	47	41	passive	passive	ADJ
fsr-3131	47	42	investors	investor	NOUN
fsr-3131	47	43	.	.	PUNCT
fsr-3131	48	1	perhaps	perhaps	ADV
fsr-3131	48	2	,	,	PUNCT
fsr-3131	48	3	these	these	DET
fsr-3131	48	4	products	product	NOUN
fsr-3131	48	5	should	should	AUX
fsr-3131	48	6	remain	remain	VERB
fsr-3131	48	7	clearly	clearly	ADV
fsr-3131	48	8	in	in	ADP
fsr-3131	48	9	the	the	DET
fsr-3131	48	10	hand	hand	NOUN
fsr-3131	48	11	of	of	ADP
fsr-3131	48	12	speculators	speculator	NOUN
fsr-3131	48	13	and	and	CCONJ
fsr-3131	48	14	short	short	ADJ
fsr-3131	48	15	-	-	PUNCT
fsr-3131	48	16	term	term	NOUN
fsr-3131	48	17	traders	trader	NOUN
fsr-3131	48	18	.	.	PUNCT
fsr-3131	49	1	greater	great	ADJ
fsr-3131	49	2	regulatory	regulatory	ADJ
fsr-3131	49	3	protections	protection	NOUN
fsr-3131	49	4	for	for	ADP
fsr-3131	49	5	retail	retail	ADJ
fsr-3131	49	6	investors	investor	NOUN
fsr-3131	49	7	may	may	AUX
fsr-3131	49	8	be	be	AUX
fsr-3131	49	9	warranted	warrant	VERB
fsr-3131	49	10	.	.	PUNCT
fsr-3131	50	1	the	the	DET
fsr-3131	50	2	strategic	strategic	ADJ
fsr-3131	50	3	allocation	allocation	NOUN
fsr-3131	50	4	between	between	ADP
fsr-3131	50	5	stocks	stock	NOUN
fsr-3131	50	6	and	and	CCONJ
fsr-3131	50	7	bonds	bond	NOUN
fsr-3131	50	8	is	be	AUX
fsr-3131	50	9	highly	highly	ADV
fsr-3131	50	10	dependent	dependent	ADJ
fsr-3131	50	11	on	on	ADP
fsr-3131	50	12	the	the	DET
fsr-3131	50	13	time	time	NOUN
fsr-3131	50	14	horizon	horizon	NOUN
fsr-3131	50	15	of	of	ADP
fsr-3131	50	16	the	the	DET
fsr-3131	50	17	investor	investor	NOUN
fsr-3131	50	18	and	and	CCONJ
fsr-3131	50	19	their	their	PRON
fsr-3131	50	20	tolerance	tolerance	NOUN
fsr-3131	50	21	for	for	ADP
fsr-3131	50	22	risk	risk	NOUN
fsr-3131	50	23	.	.	PUNCT
fsr-3131	51	1	this	this	DET
fsr-3131	51	2	failure	failure	NOUN
fsr-3131	51	3	to	to	PART
fsr-3131	51	4	quantify	quantify	VERB
fsr-3131	51	5	risk	risk	NOUN
fsr-3131	51	6	in	in	ADP
fsr-3131	51	7	an	an	DET
fsr-3131	51	8	operational	operational	ADJ
fsr-3131	51	9	context	context	NOUN
fsr-3131	51	10	for	for	ADP
fsr-3131	51	11	the	the	DET
fsr-3131	51	12	strategic	strategic	ADJ
fsr-3131	51	13	allocation	allocation	NOUN
fsr-3131	51	14	of	of	ADP
fsr-3131	51	15	investment	investment	NOUN
fsr-3131	51	16	assets	asset	NOUN
fsr-3131	51	17	has	have	AUX
fsr-3131	51	18	caused	cause	VERB
fsr-3131	51	19	the	the	DET
fsr-3131	51	20	rise	rise	NOUN
fsr-3131	51	21	of	of	ADP
fsr-3131	51	22	mechanical	mechanical	ADJ
fsr-3131	51	23	methods	method	NOUN
fsr-3131	51	24	that	that	PRON
fsr-3131	51	25	reflects	reflect	VERB
fsr-3131	51	26	classical	classical	ADJ
fsr-3131	51	27	thinking	thinking	NOUN
fsr-3131	51	28	by	by	ADP
fsr-3131	51	29	connecting	connect	VERB
fsr-3131	51	30	risk	risk	NOUN
fsr-3131	51	31	-	-	PUNCT
fsr-3131	51	32	aversion	aversion	NOUN
fsr-3131	51	33	to	to	ADP
fsr-3131	51	34	one	one	NUM
fsr-3131	51	35	’s	’s	PART
fsr-3131	51	36	age	age	NOUN
fsr-3131	51	37	.	.	PUNCT
fsr-3131	52	1	thus	thus	ADV
fsr-3131	52	2	,	,	PUNCT
fsr-3131	52	3	the	the	DET
fsr-3131	52	4	“	"	PUNCT
fsr-3131	52	5	rule	rule	NOUN
fsr-3131	52	6	of	of	ADP
fsr-3131	52	7	120	120	NUM
fsr-3131	52	8	”	"	PUNCT
fsr-3131	52	9	has	have	AUX
fsr-3131	52	10	appeared	appear	VERB
fsr-3131	52	11	in	in	ADP
fsr-3131	52	12	the	the	DET
fsr-3131	52	13	literature	literature	NOUN
fsr-3131	52	14	.	.	PUNCT
fsr-3131	53	1	this	this	PRON
fsr-3131	53	2	suggests	suggest	VERB
fsr-3131	53	3	that	that	SCONJ
fsr-3131	53	4	for	for	ADP
fsr-3131	53	5	the	the	DET
fsr-3131	53	6	stock	stock	NOUN
fsr-3131	53	7	allocation	allocation	NOUN
fsr-3131	53	8	should	should	AUX
fsr-3131	53	9	be	be	AUX
fsr-3131	53	10	120	120	NUM
fsr-3131	53	11	minus	minus	ADP
fsr-3131	53	12	the	the	DET
fsr-3131	53	13	age	age	NOUN
fsr-3131	53	14	of	of	ADP
fsr-3131	53	15	the	the	DET
fsr-3131	53	16	individual	individual	NOUN
fsr-3131	53	17	.	.	PUNCT
fsr-3131	54	1	the	the	DET
fsr-3131	54	2	rule	rule	NOUN
fsr-3131	54	3	has	have	AUX
fsr-3131	54	4	been	be	AUX
fsr-3131	54	5	modified	modify	VERB
fsr-3131	54	6	by	by	ADP
fsr-3131	54	7	others	other	NOUN
fsr-3131	54	8	,	,	PUNCT
fsr-3131	54	9	from	from	ADP
fsr-3131	54	10	about	about	ADV
fsr-3131	54	11	100	100	NUM
fsr-3131	54	12	to	to	PART
fsr-3131	54	13	130	130	NUM
fsr-3131	54	14	,	,	PUNCT
fsr-3131	54	15	to	to	PART
fsr-3131	54	16	accommodate	accommodate	VERB
fsr-3131	54	17	different	different	ADJ
fsr-3131	54	18	economic	economic	ADJ
fsr-3131	54	19	and	and	CCONJ
fsr-3131	54	20	investment	investment	NOUN
fsr-3131	54	21	cycles	cycle	NOUN
fsr-3131	54	22	.	.	PUNCT
fsr-3131	55	1	the	the	DET
fsr-3131	55	2	remainder	remainder	NOUN
fsr-3131	55	3	of	of	ADP
fsr-3131	55	4	the	the	DET
fsr-3131	55	5	money	money	NOUN
fsr-3131	55	6	is	be	AUX
fsr-3131	55	7	then	then	ADV
fsr-3131	55	8	allocated	allocate	VERB
fsr-3131	55	9	to	to	ADP
fsr-3131	55	10	fixed	fix	VERB
fsr-3131	55	11	interest	interest	NOUN
fsr-3131	55	12	instruments.2	instruments.2	ADP
fsr-3131	55	13	the	the	DET
fsr-3131	55	14	popularity	popularity	NOUN
fsr-3131	55	15	of	of	ADP
fsr-3131	55	16	this	this	DET
fsr-3131	55	17	approach	approach	NOUN
fsr-3131	55	18	has	have	AUX
fsr-3131	55	19	motivated	motivate	VERB
fsr-3131	55	20	many	many	ADJ
fsr-3131	55	21	fund	fund	NOUN
fsr-3131	55	22	providers	provider	NOUN
fsr-3131	55	23	to	to	PART
fsr-3131	55	24	offer	offer	VERB
fsr-3131	55	25	single	single	ADJ
fsr-3131	55	26	funds	fund	NOUN
fsr-3131	55	27	that	that	PRON
fsr-3131	55	28	automatically	automatically	ADV
fsr-3131	55	29	follow	follow	VERB
fsr-3131	55	30	this	this	DET
fsr-3131	55	31	approach	approach	NOUN
fsr-3131	55	32	,	,	PUNCT
fsr-3131	55	33	naming	name	VERB
fsr-3131	55	34	them	they	PRON
fsr-3131	55	35	either	either	CCONJ
fsr-3131	55	36	lifecycle	lifecycle	NOUN
fsr-3131	55	37	or	or	CCONJ
fsr-3131	55	38	target	target	NOUN
fsr-3131	55	39	date	date	NOUN
fsr-3131	55	40	funds	fund	NOUN
fsr-3131	55	41	(	(	PUNCT
fsr-3131	55	42	tdfs	tdfs	ADJ
fsr-3131	55	43	)	)	PUNCT
fsr-3131	55	44	,	,	PUNCT
fsr-3131	55	45	although	although	SCONJ
fsr-3131	55	46	these	these	DET
fsr-3131	55	47	styles	style	NOUN
fsr-3131	55	48	may	may	AUX
fsr-3131	55	49	be	be	AUX
fsr-3131	55	50	too	too	ADV
fsr-3131	55	51	aggressive	aggressive	ADJ
fsr-3131	55	52	for	for	ADP
fsr-3131	55	53	risk	risk	NOUN
fsr-3131	55	54	adverse	adverse	ADJ
fsr-3131	55	55	investors	investor	NOUN
fsr-3131	55	56	(	(	PUNCT
fsr-3131	55	57	pfau	pfau	NOUN
fsr-3131	55	58	,	,	PUNCT
fsr-3131	55	59	2010	2010	NUM
fsr-3131	55	60	)	)	PUNCT
fsr-3131	55	61	.	.	PUNCT
fsr-3131	56	1	table	table	NOUN
fsr-3131	56	2	1	1	NUM
fsr-3131	56	3	was	be	AUX
fsr-3131	56	4	formatted	format	VERB
fsr-3131	56	5	to	to	PART
fsr-3131	56	6	reflect	reflect	VERB
fsr-3131	56	7	the	the	DET
fsr-3131	56	8	strategic	strategic	ADJ
fsr-3131	56	9	asset	asset	NOUN
fsr-3131	56	10	allocations	allocation	NOUN
fsr-3131	56	11	used	use	VERB
fsr-3131	56	12	in	in	ADP
fsr-3131	56	13	this	this	DET
fsr-3131	56	14	study	study	NOUN
fsr-3131	56	15	.	.	PUNCT
fsr-3131	57	1	additionally	additionally	ADV
fsr-3131	57	2	,	,	PUNCT
fsr-3131	57	3	the	the	DET
fsr-3131	57	4	investor	investor	NOUN
fsr-3131	57	5	is	be	AUX
fsr-3131	57	6	assumed	assume	VERB
fsr-3131	57	7	to	to	PART
fsr-3131	57	8	annually	annually	ADV
fsr-3131	57	9	rebalance	rebalance	VERB
fsr-3131	57	10	their	their	PRON
fsr-3131	57	11	portfolio	portfolio	NOUN
fsr-3131	57	12	to	to	ADP
fsr-3131	57	13	these	these	DET
fsr-3131	57	14	allocations	allocation	NOUN
fsr-3131	57	15	over	over	ADP
fsr-3131	57	16	a	a	DET
fsr-3131	57	17	10	10	NUM
fsr-3131	57	18	-	-	PUNCT
fsr-3131	57	19	year	year	NOUN
fsr-3131	57	20	investment	investment	NOUN
fsr-3131	57	21	period	period	NOUN
fsr-3131	57	22	.	.	PUNCT
fsr-3131	58	1	in	in	ADP
fsr-3131	58	2	contrast	contrast	NOUN
fsr-3131	58	3	,	,	PUNCT
fsr-3131	58	4	this	this	DET
fsr-3131	58	5	study	study	NOUN
fsr-3131	58	6	is	be	AUX
fsr-3131	58	7	interested	interested	ADJ
fsr-3131	58	8	in	in	ADP
fsr-3131	58	9	comparing	compare	VERB
fsr-3131	58	10	simulated	simulated	ADJ
fsr-3131	58	11	returns	return	NOUN
fsr-3131	58	12	of	of	ADP
fsr-3131	58	13	the	the	DET
fsr-3131	58	14	above	above	ADJ
fsr-3131	58	15	investors	investor	NOUN
fsr-3131	58	16	versus	versus	ADP
fsr-3131	58	17	ones	one	NOUN
fsr-3131	58	18	who	who	PRON
fsr-3131	58	19	choose	choose	VERB
fsr-3131	58	20	to	to	PART
fsr-3131	58	21	allocate	allocate	VERB
fsr-3131	58	22	a	a	DET
fsr-3131	58	23	small	small	ADJ
fsr-3131	58	24	portion	portion	NOUN
fsr-3131	58	25	of	of	ADP
fsr-3131	58	26	their	their	PRON
fsr-3131	58	27	assets	asset	NOUN
fsr-3131	58	28	at	at	ADP
fsr-3131	58	29	the	the	DET
fsr-3131	58	30	beginning	beginning	NOUN
fsr-3131	58	31	of	of	ADP
fsr-3131	58	32	each	each	DET
fsr-3131	58	33	year	year	NOUN
fsr-3131	58	34	of	of	ADP
fsr-3131	58	35	a	a	DET
fsr-3131	58	36	10	10	NUM
fsr-3131	58	37	-	-	PUNCT
fsr-3131	58	38	year	year	NOUN
fsr-3131	58	39	investment	investment	NOUN
fsr-3131	58	40	period	period	NOUN
fsr-3131	58	41	to	to	ADP
fsr-3131	58	42	either	either	CCONJ
fsr-3131	58	43	an	an	DET
fsr-3131	58	44	inverse	inverse	NOUN
fsr-3131	58	45	or	or	CCONJ
fsr-3131	58	46	leveraged	leverage	VERB
fsr-3131	58	47	stock	stock	NOUN
fsr-3131	58	48	fund	fund	NOUN
fsr-3131	58	49	.	.	PUNCT
fsr-3131	59	1	this	this	DET
fsr-3131	59	2	alternative	alternative	ADJ
fsr-3131	59	3	group	group	NOUN
fsr-3131	59	4	of	of	ADP
fsr-3131	59	5	investors	investor	NOUN
fsr-3131	59	6	is	be	AUX
fsr-3131	59	7	represented	represent	VERB
fsr-3131	59	8	by	by	ADP
fsr-3131	59	9	allocations	allocation	NOUN
fsr-3131	59	10	that	that	PRON
fsr-3131	59	11	appear	appear	VERB
fsr-3131	59	12	in	in	ADP
fsr-3131	59	13	table	table	NOUN
fsr-3131	59	14	2	2	NUM
fsr-3131	59	15	,	,	PUNCT
fsr-3131	59	16	and	and	CCONJ
fsr-3131	59	17	includes	include	VERB
fsr-3131	59	18	the	the	DET
fsr-3131	59	19	same	same	ADJ
fsr-3131	59	20	stock	stock	NOUN
fsr-3131	59	21	to	to	PART
fsr-3131	59	22	bond	bond	NOUN
fsr-3131	59	23	ratio	ratio	NOUN
fsr-3131	59	24	as	as	SCONJ
fsr-3131	59	25	established	establish	VERB
fsr-3131	59	26	in	in	ADP
fsr-3131	59	27	table	table	NOUN
fsr-3131	59	28	1	1	NUM
fsr-3131	59	29	.	.	PUNCT
fsr-3131	60	1	the	the	DET
fsr-3131	60	2	distinction	distinction	NOUN
fsr-3131	60	3	in	in	ADP
fsr-3131	60	4	table	table	NOUN
fsr-3131	60	5	2	2	NUM
fsr-3131	60	6	is	be	AUX
fsr-3131	60	7	that	that	SCONJ
fsr-3131	60	8	10	10	NUM
fsr-3131	60	9	%	%	NOUN
fsr-3131	60	10	of	of	ADP
fsr-3131	60	11	the	the	DET
fsr-3131	60	12	investor	investor	NOUN
fsr-3131	60	13	’s	’s	PART
fsr-3131	60	14	retirement	retirement	NOUN
fsr-3131	60	15	account	account	NOUN
fsr-3131	60	16	will	will	AUX
fsr-3131	60	17	be	be	AUX
fsr-3131	60	18	allocated	allocate	VERB
fsr-3131	60	19	towards	towards	ADP
fsr-3131	60	20	an	an	DET
fsr-3131	60	21	inverse	inverse	NOUN
fsr-3131	60	22	or	or	CCONJ
fsr-3131	60	23	leveraged	leverage	VERB
fsr-3131	60	24	stock	stock	NOUN
fsr-3131	60	25	fund	fund	NOUN
fsr-3131	60	26	.	.	PUNCT
fsr-3131	61	1	again	again	ADV
fsr-3131	61	2	,	,	PUNCT
fsr-3131	61	3	this	this	DET
fsr-3131	61	4	study	study	NOUN
fsr-3131	61	5	assumes	assume	VERB
fsr-3131	61	6	that	that	SCONJ
fsr-3131	61	7	the	the	DET
fsr-3131	61	8	investor	investor	NOUN
fsr-3131	61	9	rebalances	rebalance	VERB
fsr-3131	61	10	to	to	ADP
fsr-3131	61	11	these	these	DET
fsr-3131	61	12	allocations	allocation	NOUN
fsr-3131	61	13	at	at	ADP
fsr-3131	61	14	the	the	DET
fsr-3131	61	15	beginning	beginning	NOUN
fsr-3131	61	16	of	of	ADP
fsr-3131	61	17	each	each	DET
fsr-3131	61	18	year	year	NOUN
fsr-3131	61	19	.	.	PUNCT
fsr-3131	62	1	125j.a	125j.a	NOUN
fsr-3131	62	2	.	.	PUNCT
fsr-3131	62	3	dilellio	dilellio	PROPN
fsr-3131	62	4	,	,	PUNCT
fsr-3131	62	5	r.	r.	PROPN
fsr-3131	62	6	hesse	hesse	PROPN
fsr-3131	62	7	,	,	PUNCT
fsr-3131	62	8	d.j	d.j	PROPN
fsr-3131	62	9	.	.	PROPN
fsr-3131	62	10	stanley	stanley	PROPN
fsr-3131	62	11	/	/	SYM
fsr-3131	62	12	financial	financial	ADJ
fsr-3131	62	13	services	service	NOUN
fsr-3131	62	14	review	review	VERB
fsr-3131	62	15	23	23	NUM
fsr-3131	62	16	(	(	PUNCT
fsr-3131	62	17	2014	2014	NUM
fsr-3131	62	18	)	)	PUNCT
fsr-3131	62	19	123–149	123–149	NUM
fsr-3131	62	20	4	4	NUM
fsr-3131	62	21	.	.	PUNCT
fsr-3131	62	22	research	research	NOUN
fsr-3131	62	23	methods	method	NOUN
fsr-3131	62	24	the	the	DET
fsr-3131	62	25	previous	previous	ADJ
fsr-3131	62	26	section	section	NOUN
fsr-3131	62	27	noted	note	VERB
fsr-3131	62	28	the	the	DET
fsr-3131	62	29	logic	logic	NOUN
fsr-3131	62	30	for	for	ADP
fsr-3131	62	31	the	the	DET
fsr-3131	62	32	strategic	strategic	ADJ
fsr-3131	62	33	asset	asset	NOUN
fsr-3131	62	34	allocation	allocation	NOUN
fsr-3131	62	35	between	between	ADP
fsr-3131	62	36	stocks	stock	NOUN
fsr-3131	62	37	and	and	CCONJ
fsr-3131	62	38	bonds	bond	NOUN
fsr-3131	62	39	.	.	PUNCT
fsr-3131	63	1	although	although	SCONJ
fsr-3131	63	2	many	many	ADJ
fsr-3131	63	3	believe	believe	VERB
fsr-3131	63	4	that	that	SCONJ
fsr-3131	63	5	one	one	PRON
fsr-3131	63	6	must	must	AUX
fsr-3131	63	7	at	at	ADP
fsr-3131	63	8	the	the	DET
fsr-3131	63	9	same	same	ADJ
fsr-3131	63	10	time	time	NOUN
fsr-3131	63	11	be	be	AUX
fsr-3131	63	12	specific	specific	ADJ
fsr-3131	63	13	about	about	ADP
fsr-3131	63	14	the	the	DET
fsr-3131	63	15	types	type	NOUN
fsr-3131	63	16	of	of	ADP
fsr-3131	63	17	equity	equity	NOUN
fsr-3131	63	18	or	or	CCONJ
fsr-3131	63	19	fixed	fix	VERB
fsr-3131	63	20	income	income	NOUN
fsr-3131	63	21	asset	asset	NOUN
fsr-3131	63	22	chosen	choose	VERB
fsr-3131	63	23	,	,	PUNCT
fsr-3131	63	24	this	this	DET
fsr-3131	63	25	article	article	NOUN
fsr-3131	63	26	suggests	suggest	VERB
fsr-3131	63	27	that	that	SCONJ
fsr-3131	63	28	this	this	PRON
fsr-3131	63	29	is	be	AUX
fsr-3131	63	30	more	more	ADJ
fsr-3131	63	31	of	of	ADP
fsr-3131	63	32	a	a	DET
fsr-3131	63	33	tactical	tactical	ADJ
fsr-3131	63	34	asset	asset	NOUN
fsr-3131	63	35	allocation	allocation	NOUN
fsr-3131	63	36	question	question	NOUN
fsr-3131	63	37	.	.	PUNCT
fsr-3131	64	1	for	for	ADP
fsr-3131	64	2	example	example	NOUN
fsr-3131	64	3	,	,	PUNCT
fsr-3131	64	4	equities	equity	NOUN
fsr-3131	64	5	could	could	AUX
fsr-3131	64	6	be	be	AUX
fsr-3131	64	7	small	small	ADJ
fsr-3131	64	8	cap	cap	NOUN
fsr-3131	64	9	,	,	PUNCT
fsr-3131	64	10	mid	mid	ADJ
fsr-3131	64	11	cap	cap	NOUN
fsr-3131	64	12	,	,	PUNCT
fsr-3131	64	13	large	large	ADJ
fsr-3131	64	14	cap	cap	NOUN
fsr-3131	64	15	,	,	PUNCT
fsr-3131	64	16	or	or	CCONJ
fsr-3131	64	17	reits	reit	NOUN
fsr-3131	64	18	.	.	PUNCT
fsr-3131	65	1	for	for	ADP
fsr-3131	65	2	fixed	fix	VERB
fsr-3131	65	3	income	income	NOUN
fsr-3131	65	4	,	,	PUNCT
fsr-3131	65	5	this	this	PRON
fsr-3131	65	6	could	could	AUX
fsr-3131	65	7	be	be	AUX
fsr-3131	65	8	short	short	ADJ
fsr-3131	65	9	-	-	PUNCT
fsr-3131	65	10	term	term	NOUN
fsr-3131	65	11	bonds	bond	NOUN
fsr-3131	65	12	;	;	PUNCT
fsr-3131	65	13	intermediate	intermediate	ADJ
fsr-3131	65	14	-	-	PUNCT
fsr-3131	65	15	term	term	NOUN
fsr-3131	65	16	bonds	bond	NOUN
fsr-3131	65	17	;	;	PUNCT
fsr-3131	65	18	long	long	ADJ
fsr-3131	65	19	-	-	PUNCT
fsr-3131	65	20	term	term	NOUN
fsr-3131	65	21	bonds	bond	NOUN
fsr-3131	65	22	,	,	PUNCT
fsr-3131	65	23	high	high	ADJ
fsr-3131	65	24	yield	yield	NOUN
fsr-3131	65	25	bonds	bond	NOUN
fsr-3131	65	26	;	;	PUNCT
fsr-3131	65	27	inflation	inflation	NOUN
fsr-3131	65	28	-	-	PUNCT
fsr-3131	65	29	indexed	index	VERB
fsr-3131	65	30	;	;	PUNCT
fsr-3131	65	31	or	or	CCONJ
fsr-3131	65	32	money	money	NOUN
fsr-3131	65	33	markets	market	NOUN
fsr-3131	65	34	and/or	and/or	CCONJ
fsr-3131	65	35	t	t	PROPN
fsr-3131	65	36	-	-	PUNCT
fsr-3131	65	37	bills	bill	NOUN
fsr-3131	65	38	.	.	PUNCT
fsr-3131	66	1	further	far	ADV
fsr-3131	66	2	complicating	complicate	VERB
fsr-3131	66	3	the	the	DET
fsr-3131	66	4	issue	issue	NOUN
fsr-3131	66	5	,	,	PUNCT
fsr-3131	66	6	one	one	PRON
fsr-3131	66	7	could	could	AUX
fsr-3131	66	8	consider	consider	VERB
fsr-3131	66	9	for	for	ADP
fsr-3131	66	10	equities	equity	NOUN
fsr-3131	66	11	international	international	ADJ
fsr-3131	66	12	exposure	exposure	NOUN
fsr-3131	66	13	and	and	CCONJ
fsr-3131	66	14	for	for	ADP
fsr-3131	66	15	bonds	bond	NOUN
fsr-3131	66	16	the	the	DET
fsr-3131	66	17	question	question	NOUN
fsr-3131	66	18	of	of	ADP
fsr-3131	66	19	corporate	corporate	ADJ
fsr-3131	66	20	versus	versus	ADP
fsr-3131	66	21	government	government	NOUN
fsr-3131	66	22	bonds	bond	NOUN
fsr-3131	66	23	further	far	ADV
fsr-3131	66	24	complicated	complicate	VERB
fsr-3131	66	25	by	by	ADP
fsr-3131	66	26	domestic	domestic	ADJ
fsr-3131	66	27	versus	versus	X
fsr-3131	66	28	international	international	ADJ
fsr-3131	66	29	.	.	PUNCT
fsr-3131	67	1	thus	thus	ADV
fsr-3131	67	2	,	,	PUNCT
fsr-3131	67	3	the	the	DET
fsr-3131	67	4	possible	possible	ADJ
fsr-3131	67	5	pragmatic	pragmatic	ADJ
fsr-3131	67	6	tactical	tactical	ADJ
fsr-3131	67	7	choices	choice	NOUN
fsr-3131	67	8	are	be	AUX
fsr-3131	67	9	large	large	ADJ
fsr-3131	67	10	.	.	PUNCT
fsr-3131	68	1	to	to	PART
fsr-3131	68	2	minimize	minimize	VERB
fsr-3131	68	3	potential	potential	ADJ
fsr-3131	68	4	problems	problem	NOUN
fsr-3131	68	5	that	that	PRON
fsr-3131	68	6	could	could	AUX
fsr-3131	68	7	arise	arise	VERB
fsr-3131	68	8	from	from	ADP
fsr-3131	68	9	the	the	DET
fsr-3131	68	10	tactical	tactical	ADJ
fsr-3131	68	11	allocation	allocation	NOUN
fsr-3131	68	12	question	question	NOUN
fsr-3131	68	13	,	,	PUNCT
fsr-3131	68	14	two	two	NUM
fsr-3131	68	15	well	well	ADV
fsr-3131	68	16	-	-	PUNCT
fsr-3131	68	17	known	know	VERB
fsr-3131	68	18	and	and	CCONJ
fsr-3131	68	19	large	large	ADJ
fsr-3131	68	20	mutual	mutual	ADJ
fsr-3131	68	21	funds	fund	NOUN
fsr-3131	68	22	were	be	AUX
fsr-3131	68	23	chosen	choose	VERB
fsr-3131	68	24	to	to	PART
fsr-3131	68	25	begin	begin	VERB
fsr-3131	68	26	our	our	PRON
fsr-3131	68	27	analysis	analysis	NOUN
fsr-3131	68	28	,	,	PUNCT
fsr-3131	68	29	representative	representative	NOUN
fsr-3131	68	30	of	of	ADP
fsr-3131	68	31	rational	rational	ADJ
fsr-3131	68	32	investment	investment	NOUN
fsr-3131	68	33	choices	choice	NOUN
fsr-3131	68	34	and	and	CCONJ
fsr-3131	68	35	proxies	proxy	NOUN
fsr-3131	68	36	for	for	ADP
fsr-3131	68	37	stocks	stock	NOUN
fsr-3131	68	38	and	and	CCONJ
fsr-3131	68	39	bonds	bond	NOUN
fsr-3131	68	40	.	.	PUNCT
fsr-3131	69	1	the	the	DET
fsr-3131	69	2	vanguard	vanguard	NOUN
fsr-3131	69	3	s&p	s&p	PROPN
fsr-3131	69	4	500	500	NUM
fsr-3131	69	5	index	index	NOUN
fsr-3131	69	6	fund	fund	NOUN
fsr-3131	69	7	(	(	PUNCT
fsr-3131	69	8	vfinx	vfinx	NOUN
fsr-3131	69	9	)	)	PUNCT
fsr-3131	69	10	was	be	AUX
fsr-3131	69	11	chosen	choose	VERB
fsr-3131	69	12	as	as	ADP
fsr-3131	69	13	the	the	DET
fsr-3131	69	14	proxy	proxy	NOUN
fsr-3131	69	15	to	to	PART
fsr-3131	69	16	represent	represent	VERB
fsr-3131	69	17	domestic	domestic	ADJ
fsr-3131	69	18	equity	equity	NOUN
fsr-3131	69	19	.	.	PUNCT
fsr-3131	70	1	this	this	DET
fsr-3131	70	2	fund	fund	NOUN
fsr-3131	70	3	attempts	attempt	VERB
fsr-3131	70	4	to	to	PART
fsr-3131	70	5	track	track	VERB
fsr-3131	70	6	the	the	DET
fsr-3131	70	7	performance	performance	NOUN
fsr-3131	70	8	of	of	ADP
fsr-3131	70	9	the	the	DET
fsr-3131	70	10	s&p	s&p	PROPN
fsr-3131	70	11	500	500	NUM
fsr-3131	70	12	,	,	PUNCT
fsr-3131	70	13	a	a	DET
fsr-3131	70	14	widely	widely	ADV
fsr-3131	70	15	recognized	recognize	VERB
fsr-3131	70	16	benchmark	benchmark	NOUN
fsr-3131	70	17	of	of	ADP
fsr-3131	70	18	the	the	DET
fsr-3131	70	19	u.s	u.s	PROPN
fsr-3131	70	20	.	.	PROPN
fsr-3131	70	21	stock	stock	NOUN
fsr-3131	70	22	market	market	NOUN
fsr-3131	70	23	.	.	PUNCT
fsr-3131	71	1	this	this	DET
fsr-3131	71	2	index	index	NOUN
fsr-3131	71	3	represents	represent	VERB
fsr-3131	71	4	large	large	ADJ
fsr-3131	71	5	capitalization	capitalization	NOUN
fsr-3131	71	6	firms	firm	NOUN
fsr-3131	71	7	almost	almost	ADV
fsr-3131	71	8	equally	equally	ADV
fsr-3131	71	9	weighted	weight	VERB
fsr-3131	71	10	between	between	ADP
fsr-3131	71	11	value	value	NOUN
fsr-3131	71	12	and	and	CCONJ
fsr-3131	71	13	growth	growth	NOUN
fsr-3131	71	14	.	.	PUNCT
fsr-3131	72	1	the	the	DET
fsr-3131	72	2	vanguard	vanguard	PROPN
fsr-3131	72	3	total	total	ADJ
fsr-3131	72	4	bond	bond	NOUN
fsr-3131	72	5	market	market	NOUN
fsr-3131	72	6	index	index	NOUN
fsr-3131	72	7	fund	fund	NOUN
fsr-3131	72	8	(	(	PUNCT
fsr-3131	72	9	vbmfx	vbmfx	NOUN
fsr-3131	72	10	)	)	PUNCT
fsr-3131	72	11	was	be	AUX
fsr-3131	72	12	chosen	choose	VERB
fsr-3131	72	13	as	as	ADP
fsr-3131	72	14	the	the	DET
fsr-3131	72	15	proxy	proxy	NOUN
fsr-3131	72	16	to	to	PART
fsr-3131	72	17	represent	represent	VERB
fsr-3131	72	18	fixed	fixed	ADJ
fsr-3131	72	19	income	income	NOUN
fsr-3131	72	20	.	.	PUNCT
fsr-3131	73	1	this	this	DET
fsr-3131	73	2	fund	fund	NOUN
fsr-3131	73	3	attempts	attempt	VERB
fsr-3131	73	4	to	to	PART
fsr-3131	73	5	track	track	VERB
fsr-3131	73	6	the	the	DET
fsr-3131	73	7	barclays	barclay	NOUN
fsr-3131	73	8	capital	capital	NOUN
fsr-3131	73	9	us	we	PRON
fsr-3131	73	10	aggregate	aggregate	VERB
fsr-3131	73	11	float	float	ADJ
fsr-3131	73	12	adjusted	adjust	VERB
fsr-3131	73	13	index	index	NOUN
fsr-3131	73	14	.	.	PUNCT
fsr-3131	74	1	this	this	DET
fsr-3131	74	2	index	index	NOUN
fsr-3131	74	3	is	be	AUX
fsr-3131	74	4	classified	classify	VERB
fsr-3131	74	5	as	as	ADP
fsr-3131	74	6	an	an	DET
fsr-3131	74	7	intermediate	intermediate	ADJ
fsr-3131	74	8	-	-	PUNCT
fsr-3131	74	9	term	term	NOUN
fsr-3131	74	10	domestic	domestic	ADJ
fsr-3131	74	11	index	index	NOUN
fsr-3131	74	12	.	.	PUNCT
fsr-3131	75	1	both	both	DET
fsr-3131	75	2	funds	fund	NOUN
fsr-3131	75	3	are	be	AUX
fsr-3131	75	4	no	no	DET
fsr-3131	75	5	-	-	PUNCT
fsr-3131	75	6	load	load	NOUN
fsr-3131	75	7	and	and	CCONJ
fsr-3131	75	8	low	low	ADJ
fsr-3131	75	9	-	-	PUNCT
fsr-3131	75	10	fee	fee	NOUN
fsr-3131	75	11	as	as	ADV
fsr-3131	75	12	well	well	ADV
fsr-3131	75	13	as	as	ADP
fsr-3131	75	14	being	be	AUX
fsr-3131	75	15	passively	passively	ADV
fsr-3131	75	16	administrated	administrate	VERB
fsr-3131	75	17	.	.	PUNCT
fsr-3131	76	1	the	the	DET
fsr-3131	76	2	funds	fund	NOUN
fsr-3131	76	3	are	be	AUX
fsr-3131	76	4	highly	highly	ADV
fsr-3131	76	5	popular	popular	ADJ
fsr-3131	76	6	with	with	ADP
fsr-3131	76	7	vanguard	vanguard	NOUN
fsr-3131	76	8	investors	investor	NOUN
fsr-3131	76	9	.	.	PUNCT
fsr-3131	77	1	the	the	DET
fsr-3131	77	2	s&p	s&p	PROPN
fsr-3131	77	3	fund	fund	NOUN
fsr-3131	77	4	is	be	AUX
fsr-3131	77	5	second	second	ADJ
fsr-3131	77	6	in	in	ADP
fsr-3131	77	7	size	size	NOUN
fsr-3131	77	8	whereas	whereas	SCONJ
fsr-3131	77	9	the	the	DET
fsr-3131	77	10	bond	bond	NOUN
fsr-3131	77	11	fund	fund	NOUN
fsr-3131	77	12	is	be	AUX
fsr-3131	77	13	third	third	ADJ
fsr-3131	77	14	.	.	PUNCT
fsr-3131	78	1	vanguard	vanguard	NOUN
fsr-3131	78	2	is	be	AUX
fsr-3131	78	3	further	far	ADV
fsr-3131	78	4	known	know	VERB
fsr-3131	78	5	to	to	PART
fsr-3131	78	6	have	have	VERB
fsr-3131	78	7	very	very	ADV
fsr-3131	78	8	low	low	ADJ
fsr-3131	78	9	benchmark	benchmark	NOUN
fsr-3131	78	10	tracking	tracking	NOUN
fsr-3131	78	11	errors	error	NOUN
fsr-3131	78	12	thereby	thereby	ADV
fsr-3131	78	13	making	make	VERB
fsr-3131	78	14	these	these	DET
fsr-3131	78	15	funds	fund	NOUN
fsr-3131	78	16	valid	valid	ADJ
fsr-3131	78	17	proxies	proxy	NOUN
fsr-3131	78	18	.	.	PUNCT
fsr-3131	79	1	for	for	ADP
fsr-3131	79	2	this	this	DET
fsr-3131	79	3	reason	reason	NOUN
fsr-3131	79	4	,	,	PUNCT
fsr-3131	79	5	we	we	PRON
fsr-3131	79	6	also	also	ADV
fsr-3131	79	7	consider	consider	VERB
fsr-3131	79	8	other	other	ADJ
fsr-3131	79	9	table	table	NOUN
fsr-3131	79	10	1	1	NUM
fsr-3131	79	11	traditional	traditional	ADJ
fsr-3131	79	12	stock	stock	NOUN
fsr-3131	79	13	and	and	CCONJ
fsr-3131	79	14	bond	bond	NOUN
fsr-3131	79	15	allocations	allocation	NOUN
fsr-3131	79	16	risk	risk	VERB
fsr-3131	79	17	tolerance	tolerance	NOUN
fsr-3131	79	18	high	high	ADJ
fsr-3131	79	19	medium	medium	ADJ
fsr-3131	79	20	low	low	ADJ
fsr-3131	79	21	typical	typical	ADJ
fsr-3131	79	22	age	age	NOUN
fsr-3131	79	23	25	25	NUM
fsr-3131	79	24	40	40	NUM
fsr-3131	79	25	55	55	NUM
fsr-3131	79	26	bond	bond	NOUN
fsr-3131	79	27	allocation	allocation	NOUN
fsr-3131	79	28	5	5	NUM
fsr-3131	79	29	%	%	NOUN
fsr-3131	79	30	20	20	NUM
fsr-3131	79	31	%	%	NOUN
fsr-3131	79	32	35	35	NUM
fsr-3131	79	33	%	%	NOUN
fsr-3131	79	34	stock	stock	NOUN
fsr-3131	79	35	allocation	allocation	NOUN
fsr-3131	79	36	95	95	NUM
fsr-3131	79	37	%	%	NOUN
fsr-3131	79	38	80	80	NUM
fsr-3131	79	39	%	%	NOUN
fsr-3131	79	40	65	65	NUM
fsr-3131	79	41	%	%	NOUN
fsr-3131	79	42	stock	stock	NOUN
fsr-3131	79	43	:	:	PUNCT
fsr-3131	79	44	bond	bond	NOUN
fsr-3131	79	45	ratio	ratio	NOUN
fsr-3131	79	46	19:1	19:1	NUM
fsr-3131	79	47	4:1	4:1	NUM
fsr-3131	79	48	13:7	13:7	NUM
fsr-3131	79	49	(	(	PUNCT
fsr-3131	79	50	1.86:1	1.86:1	NUM
fsr-3131	79	51	)	)	PUNCT
fsr-3131	79	52	notes	note	NOUN
fsr-3131	79	53	.	.	PUNCT
fsr-3131	80	1	this	this	DET
fsr-3131	80	2	table	table	NOUN
fsr-3131	80	3	shows	show	VERB
fsr-3131	80	4	the	the	DET
fsr-3131	80	5	traditional	traditional	ADJ
fsr-3131	80	6	stock	stock	NOUN
fsr-3131	80	7	and	and	CCONJ
fsr-3131	80	8	bond	bond	NOUN
fsr-3131	80	9	allocations	allocation	NOUN
fsr-3131	80	10	assumed	assume	VERB
fsr-3131	80	11	for	for	ADP
fsr-3131	80	12	each	each	DET
fsr-3131	80	13	simulated	simulate	VERB
fsr-3131	80	14	10	10	NUM
fsr-3131	80	15	-	-	PUNCT
fsr-3131	80	16	year	year	NOUN
fsr-3131	80	17	period	period	NOUN
fsr-3131	80	18	,	,	PUNCT
fsr-3131	80	19	rebalanced	rebalance	VERB
fsr-3131	80	20	annually	annually	ADV
fsr-3131	80	21	.	.	PUNCT
fsr-3131	81	1	table	table	NOUN
fsr-3131	81	2	2	2	NUM
fsr-3131	81	3	alternative	alternative	ADJ
fsr-3131	81	4	stock	stock	NOUN
fsr-3131	81	5	,	,	PUNCT
fsr-3131	81	6	bond	bond	NOUN
fsr-3131	81	7	,	,	PUNCT
fsr-3131	81	8	and	and	CCONJ
fsr-3131	81	9	inverse	inverse	NOUN
fsr-3131	81	10	or	or	CCONJ
fsr-3131	81	11	leveraged	leverage	VERB
fsr-3131	81	12	stock	stock	NOUN
fsr-3131	81	13	allocation	allocation	NOUN
fsr-3131	81	14	risk	risk	NOUN
fsr-3131	81	15	tolerance	tolerance	NOUN
fsr-3131	81	16	high	high	ADJ
fsr-3131	81	17	medium	medium	ADJ
fsr-3131	81	18	low	low	ADJ
fsr-3131	81	19	typical	typical	ADJ
fsr-3131	81	20	age	age	NOUN
fsr-3131	81	21	25	25	NUM
fsr-3131	81	22	40	40	NUM
fsr-3131	81	23	55	55	NUM
fsr-3131	81	24	bond	bond	NOUN
fsr-3131	81	25	allocation	allocation	NOUN
fsr-3131	81	26	4.5	4.5	NUM
fsr-3131	81	27	%	%	NOUN
fsr-3131	81	28	18.0	18.0	NUM
fsr-3131	81	29	%	%	NOUN
fsr-3131	81	30	31.5	31.5	NUM
fsr-3131	81	31	%	%	NOUN
fsr-3131	81	32	stock	stock	NOUN
fsr-3131	81	33	allocation	allocation	NOUN
fsr-3131	81	34	85.5	85.5	NUM
fsr-3131	81	35	%	%	NOUN
fsr-3131	81	36	72.0	72.0	NUM
fsr-3131	81	37	%	%	NOUN
fsr-3131	81	38	58.5	58.5	NUM
fsr-3131	81	39	%	%	NOUN
fsr-3131	81	40	alternative	alternative	ADJ
fsr-3131	81	41	stock	stock	NOUN
fsr-3131	81	42	allocation	allocation	NOUN
fsr-3131	81	43	10.0	10.0	NUM
fsr-3131	81	44	%	%	NOUN
fsr-3131	81	45	10.0	10.0	NUM
fsr-3131	81	46	%	%	NOUN
fsr-3131	81	47	10.0	10.0	NUM
fsr-3131	81	48	%	%	NOUN
fsr-3131	81	49	stock	stock	NOUN
fsr-3131	81	50	:	:	PUNCT
fsr-3131	81	51	bond	bond	NOUN
fsr-3131	81	52	ratio	ratio	NOUN
fsr-3131	81	53	19:1	19:1	NUM
fsr-3131	81	54	4:1	4:1	NUM
fsr-3131	81	55	13:7	13:7	NUM
fsr-3131	81	56	(	(	PUNCT
fsr-3131	81	57	1.86:1	1.86:1	NUM
fsr-3131	81	58	)	)	PUNCT
fsr-3131	81	59	notes	note	NOUN
fsr-3131	81	60	.	.	PUNCT
fsr-3131	82	1	this	this	DET
fsr-3131	82	2	table	table	NOUN
fsr-3131	82	3	shows	show	VERB
fsr-3131	82	4	the	the	DET
fsr-3131	82	5	alternative	alternative	ADJ
fsr-3131	82	6	stock	stock	NOUN
fsr-3131	82	7	,	,	PUNCT
fsr-3131	82	8	bond	bond	NOUN
fsr-3131	82	9	,	,	PUNCT
fsr-3131	82	10	and	and	CCONJ
fsr-3131	82	11	inverse	inverse	NOUN
fsr-3131	82	12	or	or	CCONJ
fsr-3131	82	13	leveraged	leverage	VERB
fsr-3131	82	14	stock	stock	NOUN
fsr-3131	82	15	allocations	allocation	NOUN
fsr-3131	82	16	assumed	assume	VERB
fsr-3131	82	17	for	for	ADP
fsr-3131	82	18	each	each	DET
fsr-3131	82	19	simulated	simulate	VERB
fsr-3131	82	20	10	10	NUM
fsr-3131	82	21	-	-	PUNCT
fsr-3131	82	22	year	year	NOUN
fsr-3131	82	23	period	period	NOUN
fsr-3131	82	24	,	,	PUNCT
fsr-3131	82	25	rebalanced	rebalance	VERB
fsr-3131	82	26	annually	annually	ADV
fsr-3131	82	27	.	.	PUNCT
fsr-3131	83	1	126	126	NUM
fsr-3131	83	2	j.a	j.a	PROPN
fsr-3131	83	3	.	.	PROPN
fsr-3131	83	4	dilellio	dilellio	PROPN
fsr-3131	83	5	,	,	PUNCT
fsr-3131	83	6	r.	r.	PROPN
fsr-3131	83	7	hesse	hesse	PROPN
fsr-3131	83	8	,	,	PUNCT
fsr-3131	83	9	d.j	d.j	PROPN
fsr-3131	83	10	.	.	PROPN
fsr-3131	83	11	stanley	stanley	PROPN
fsr-3131	83	12	/	/	SYM
fsr-3131	83	13	financial	financial	ADJ
fsr-3131	83	14	services	service	NOUN
fsr-3131	83	15	review	review	VERB
fsr-3131	83	16	23	23	NUM
fsr-3131	83	17	(	(	PUNCT
fsr-3131	83	18	2014	2014	NUM
fsr-3131	83	19	)	)	PUNCT
fsr-3131	83	20	123–149	123–149	NUM
fsr-3131	83	21	vanguard	vanguard	NOUN
fsr-3131	83	22	stock	stock	NOUN
fsr-3131	83	23	and	and	CCONJ
fsr-3131	83	24	bond	bond	NOUN
fsr-3131	83	25	index	index	NOUN
fsr-3131	83	26	funds	fund	NOUN
fsr-3131	83	27	to	to	PART
fsr-3131	83	28	enhance	enhance	VERB
fsr-3131	83	29	our	our	PRON
fsr-3131	83	30	initial	initial	ADJ
fsr-3131	83	31	findings	finding	NOUN
fsr-3131	83	32	,	,	PUNCT
fsr-3131	83	33	based	base	VERB
fsr-3131	83	34	on	on	ADP
fsr-3131	83	35	alternative	alternative	ADJ
fsr-3131	83	36	candidates	candidate	NOUN
fsr-3131	83	37	for	for	ADP
fsr-3131	83	38	an	an	DET
fsr-3131	83	39	investor	investor	NOUN
fsr-3131	83	40	’s	’s	PART
fsr-3131	83	41	stock	stock	NOUN
fsr-3131	83	42	and	and	CCONJ
fsr-3131	83	43	bond	bond	NOUN
fsr-3131	83	44	allocation	allocation	NOUN
fsr-3131	83	45	.	.	PUNCT
fsr-3131	84	1	the	the	DET
fsr-3131	84	2	inverse	inverse	NOUN
fsr-3131	84	3	and	and	CCONJ
fsr-3131	84	4	leveraged	leveraged	ADJ
fsr-3131	84	5	equity	equity	NOUN
fsr-3131	84	6	returns	return	NOUN
fsr-3131	84	7	were	be	AUX
fsr-3131	84	8	modeled	model	VERB
fsr-3131	84	9	from	from	ADP
fsr-3131	84	10	the	the	DET
fsr-3131	84	11	daily	daily	ADJ
fsr-3131	84	12	returns	return	NOUN
fsr-3131	84	13	,	,	PUNCT
fsr-3131	84	14	adjusted	adjust	VERB
fsr-3131	84	15	for	for	ADP
fsr-3131	84	16	any	any	DET
fsr-3131	84	17	dividends	dividend	NOUN
fsr-3131	84	18	,	,	PUNCT
fsr-3131	84	19	of	of	ADP
fsr-3131	84	20	the	the	DET
fsr-3131	84	21	stock	stock	NOUN
fsr-3131	84	22	returns	return	NOUN
fsr-3131	84	23	,	,	PUNCT
fsr-3131	84	24	multiplied	multiply	VERB
fsr-3131	84	25	by	by	ADP
fsr-3131	84	26	negative	negative	ADJ
fsr-3131	84	27	one	one	NUM
fsr-3131	84	28	(	(	PUNCT
fsr-3131	84	29	�	�	NOUN
fsr-3131	84	30	1	1	NUM
fsr-3131	84	31	)	)	PUNCT
fsr-3131	84	32	for	for	ADP
fsr-3131	84	33	the	the	DET
fsr-3131	84	34	inverse	inverse	NOUN
fsr-3131	84	35	stock	stock	NOUN
fsr-3131	84	36	fund	fund	NOUN
fsr-3131	84	37	,	,	PUNCT
fsr-3131	84	38	and	and	CCONJ
fsr-3131	84	39	positive	positive	ADJ
fsr-3131	84	40	two	two	NUM
fsr-3131	84	41	(	(	PUNCT
fsr-3131	84	42	2	2	NUM
fsr-3131	84	43	)	)	PUNCT
fsr-3131	84	44	for	for	ADP
fsr-3131	84	45	the	the	DET
fsr-3131	84	46	leveraged	leverage	VERB
fsr-3131	84	47	fund	fund	NOUN
fsr-3131	84	48	.	.	PUNCT
fsr-3131	85	1	annual	annual	ADJ
fsr-3131	85	2	fees	fee	NOUN
fsr-3131	85	3	were	be	AUX
fsr-3131	85	4	assumed	assume	VERB
fsr-3131	85	5	at	at	ADP
fsr-3131	85	6	1	1	NUM
fsr-3131	85	7	%	%	NOUN
fsr-3131	85	8	,	,	PUNCT
fsr-3131	85	9	and	and	CCONJ
fsr-3131	85	10	were	be	AUX
fsr-3131	85	11	deducted	deduct	VERB
fsr-3131	85	12	from	from	ADP
fsr-3131	85	13	monthly	monthly	ADJ
fsr-3131	85	14	returns	return	NOUN
fsr-3131	85	15	,	,	PUNCT
fsr-3131	85	16	to	to	PART
fsr-3131	85	17	include	include	VERB
fsr-3131	85	18	the	the	DET
fsr-3131	85	19	combined	combine	VERB
fsr-3131	85	20	cost	cost	NOUN
fsr-3131	85	21	of	of	ADP
fsr-3131	85	22	the	the	DET
fsr-3131	85	23	expense	expense	NOUN
fsr-3131	85	24	ratio	ratio	NOUN
fsr-3131	85	25	,	,	PUNCT
fsr-3131	85	26	trading	trading	NOUN
fsr-3131	85	27	commissions	commission	NOUN
fsr-3131	85	28	,	,	PUNCT
fsr-3131	85	29	and	and	CCONJ
fsr-3131	85	30	a	a	DET
fsr-3131	85	31	bid	bid	NOUN
fsr-3131	85	32	-	-	PUNCT
fsr-3131	85	33	ask	ask	NOUN
fsr-3131	85	34	spread	spread	VERB
fsr-3131	85	35	potentially	potentially	ADV
fsr-3131	85	36	resulting	result	VERB
fsr-3131	85	37	from	from	ADP
fsr-3131	85	38	lower	low	ADJ
fsr-3131	85	39	volume	volume	NOUN
fsr-3131	85	40	etfs.3	etfs.3	PROPN
fsr-3131	85	41	although	although	SCONJ
fsr-3131	85	42	the	the	DET
fsr-3131	85	43	value	value	NOUN
fsr-3131	85	44	of	of	ADP
fsr-3131	85	45	1	1	NUM
fsr-3131	85	46	%	%	NOUN
fsr-3131	85	47	may	may	AUX
fsr-3131	85	48	appear	appear	VERB
fsr-3131	85	49	to	to	PART
fsr-3131	85	50	be	be	AUX
fsr-3131	85	51	insufficient	insufficient	ADJ
fsr-3131	85	52	to	to	PART
fsr-3131	85	53	cover	cover	VERB
fsr-3131	85	54	all	all	DET
fsr-3131	85	55	investor	investor	NOUN
fsr-3131	85	56	expenses	expense	NOUN
fsr-3131	85	57	,	,	PUNCT
fsr-3131	85	58	it	it	PRON
fsr-3131	85	59	was	be	AUX
fsr-3131	85	60	found	find	VERB
fsr-3131	85	61	by	by	ADP
fsr-3131	85	62	starting	start	VERB
fsr-3131	85	63	with	with	ADP
fsr-3131	85	64	the	the	DET
fsr-3131	85	65	expense	expense	NOUN
fsr-3131	85	66	ratio	ratio	NOUN
fsr-3131	85	67	for	for	ADP
fsr-3131	85	68	an	an	DET
fsr-3131	85	69	existing	exist	VERB
fsr-3131	85	70	inverse	inverse	NOUN
fsr-3131	85	71	or	or	CCONJ
fsr-3131	85	72	leveraged	leveraged	ADJ
fsr-3131	85	73	etf	etf	NOUN
fsr-3131	85	74	,	,	PUNCT
fsr-3131	85	75	such	such	ADJ
fsr-3131	85	76	as	as	ADP
fsr-3131	85	77	the	the	DET
fsr-3131	85	78	proshares	proshare	NOUN
fsr-3131	85	79	short	short	ADJ
fsr-3131	85	80	and	and	CCONJ
fsr-3131	85	81	ultra	ultra	ADJ
fsr-3131	85	82	s&p	s&p	PROPN
fsr-3131	85	83	500	500	NUM
fsr-3131	85	84	etfs	etfs	NOUN
fsr-3131	85	85	(	(	PUNCT
fsr-3131	85	86	symbols	symbol	NOUN
fsr-3131	85	87	sh	sh	PROPN
fsr-3131	85	88	and	and	CCONJ
fsr-3131	85	89	sso	sso	PROPN
fsr-3131	85	90	)	)	PUNCT
fsr-3131	85	91	,	,	PUNCT
fsr-3131	85	92	which	which	PRON
fsr-3131	85	93	are	be	AUX
fsr-3131	85	94	both	both	PRON
fsr-3131	85	95	0.90	0.90	NUM
fsr-3131	85	96	%	%	NOUN
fsr-3131	85	97	.	.	PUNCT
fsr-3131	86	1	we	we	PRON
fsr-3131	86	2	then	then	ADV
fsr-3131	86	3	applied	apply	VERB
fsr-3131	86	4	the	the	DET
fsr-3131	86	5	bid	bid	NOUN
fsr-3131	86	6	-	-	PUNCT
fsr-3131	86	7	ask	ask	NOUN
fsr-3131	86	8	model	model	NOUN
fsr-3131	86	9	developed	develop	VERB
fsr-3131	86	10	by	by	ADP
fsr-3131	86	11	dilellio	dilellio	NOUN
fsr-3131	86	12	and	and	CCONJ
fsr-3131	86	13	stanley	stanley	PROPN
fsr-3131	86	14	(	(	PUNCT
fsr-3131	86	15	2011	2011	NUM
fsr-3131	86	16	)	)	PUNCT
fsr-3131	86	17	based	base	VERB
fsr-3131	86	18	on	on	ADP
fsr-3131	86	19	the	the	DET
fsr-3131	86	20	threemonth	threemonth	NOUN
fsr-3131	86	21	moving	move	VERB
fsr-3131	86	22	average	average	ADJ
fsr-3131	86	23	volume	volume	NOUN
fsr-3131	86	24	at	at	ADP
fsr-3131	86	25	the	the	DET
fsr-3131	86	26	end	end	NOUN
fsr-3131	86	27	of	of	ADP
fsr-3131	86	28	2013	2013	NUM
fsr-3131	86	29	for	for	ADP
fsr-3131	86	30	these	these	DET
fsr-3131	86	31	etfs	etfs	NOUN
fsr-3131	86	32	,	,	PUNCT
fsr-3131	86	33	producing	produce	VERB
fsr-3131	86	34	a	a	DET
fsr-3131	86	35	bid	bid	NOUN
fsr-3131	86	36	-	-	PUNCT
fsr-3131	86	37	ask	ask	NOUN
fsr-3131	86	38	spread	spread	VERB
fsr-3131	86	39	cost	cost	NOUN
fsr-3131	86	40	of	of	ADP
fsr-3131	86	41	0.10	0.10	NUM
fsr-3131	86	42	%	%	NOUN
fsr-3131	86	43	and	and	CCONJ
fsr-3131	86	44	0.08	0.08	NUM
fsr-3131	86	45	%	%	NOUN
fsr-3131	86	46	.	.	PUNCT
fsr-3131	87	1	to	to	PART
fsr-3131	87	2	account	account	VERB
fsr-3131	87	3	for	for	ADP
fsr-3131	87	4	commissions	commission	NOUN
fsr-3131	87	5	,	,	PUNCT
fsr-3131	87	6	we	we	PRON
fsr-3131	87	7	assumed	assume	VERB
fsr-3131	87	8	one	one	NUM
fsr-3131	87	9	buy	buy	NOUN
fsr-3131	87	10	and	and	CCONJ
fsr-3131	87	11	one	one	NUM
fsr-3131	87	12	sell	sell	NOUN
fsr-3131	87	13	per	per	ADP
fsr-3131	87	14	year	year	NOUN
fsr-3131	87	15	on	on	ADP
fsr-3131	87	16	a	a	DET
fsr-3131	87	17	portfolio	portfolio	NOUN
fsr-3131	87	18	of	of	ADP
fsr-3131	87	19	$	$	SYM
fsr-3131	87	20	100,000	100,000	NUM
fsr-3131	87	21	to	to	PART
fsr-3131	87	22	maintain	maintain	VERB
fsr-3131	87	23	the	the	DET
fsr-3131	87	24	10	10	NUM
fsr-3131	87	25	%	%	NOUN
fsr-3131	87	26	allocation	allocation	NOUN
fsr-3131	87	27	to	to	ADP
fsr-3131	87	28	these	these	DET
fsr-3131	87	29	alternative	alternative	ADJ
fsr-3131	87	30	investments	investment	NOUN
fsr-3131	87	31	,	,	PUNCT
fsr-3131	87	32	which	which	PRON
fsr-3131	87	33	produces	produce	VERB
fsr-3131	87	34	an	an	DET
fsr-3131	87	35	annual	annual	ADJ
fsr-3131	87	36	cost	cost	NOUN
fsr-3131	87	37	of	of	ADP
fsr-3131	87	38	$	$	SYM
fsr-3131	87	39	20/(10	20/(10	NUM
fsr-3131	87	40	%	%	NOUN
fsr-3131	87	41	of	of	ADP
fsr-3131	87	42	$	$	SYM
fsr-3131	87	43	100,000	100,000	NUM
fsr-3131	87	44	)	)	PUNCT
fsr-3131	87	45	�	�	PROPN
fsr-3131	87	46	0.2	0.2	NUM
fsr-3131	87	47	%	%	NOUN
fsr-3131	87	48	.	.	PUNCT
fsr-3131	88	1	lastly	lastly	ADV
fsr-3131	88	2	,	,	PUNCT
fsr-3131	88	3	because	because	SCONJ
fsr-3131	88	4	we	we	PRON
fsr-3131	88	5	are	be	AUX
fsr-3131	88	6	“	"	PUNCT
fsr-3131	88	7	replicating	replicate	VERB
fsr-3131	88	8	”	"	PUNCT
fsr-3131	88	9	an	an	DET
fsr-3131	88	10	inverse	inverse	NOUN
fsr-3131	88	11	or	or	CCONJ
fsr-3131	88	12	leverage	leverage	NOUN
fsr-3131	88	13	etf	etf	NOUN
fsr-3131	88	14	using	use	VERB
fsr-3131	88	15	an	an	DET
fsr-3131	88	16	existing	exist	VERB
fsr-3131	88	17	index	index	NOUN
fsr-3131	88	18	mutual	mutual	ADJ
fsr-3131	88	19	fund	fund	NOUN
fsr-3131	88	20	,	,	PUNCT
fsr-3131	88	21	we	we	PRON
fsr-3131	88	22	wanted	want	VERB
fsr-3131	88	23	to	to	PART
fsr-3131	88	24	avoid	avoid	VERB
fsr-3131	88	25	double	double	ADJ
fsr-3131	88	26	-	-	PUNCT
fsr-3131	88	27	counting	counting	NOUN
fsr-3131	88	28	the	the	DET
fsr-3131	88	29	expense	expense	NOUN
fsr-3131	88	30	of	of	ADP
fsr-3131	88	31	managing	manage	VERB
fsr-3131	88	32	the	the	DET
fsr-3131	88	33	fund	fund	NOUN
fsr-3131	88	34	,	,	PUNCT
fsr-3131	88	35	assuming	assume	VERB
fsr-3131	88	36	that	that	SCONJ
fsr-3131	88	37	management	management	NOUN
fsr-3131	88	38	was	be	AUX
fsr-3131	88	39	sufficiently	sufficiently	ADV
fsr-3131	88	40	covered	cover	VERB
fsr-3131	88	41	by	by	ADP
fsr-3131	88	42	the	the	DET
fsr-3131	88	43	0.90	0.90	NUM
fsr-3131	88	44	%	%	NOUN
fsr-3131	88	45	expense	expense	NOUN
fsr-3131	88	46	ratio	ratio	NOUN
fsr-3131	88	47	already	already	ADV
fsr-3131	88	48	identified	identify	VERB
fsr-3131	88	49	.	.	PUNCT
fsr-3131	89	1	thus	thus	ADV
fsr-3131	89	2	,	,	PUNCT
fsr-3131	89	3	we	we	PRON
fsr-3131	89	4	subtract	subtract	VERB
fsr-3131	89	5	from	from	ADP
fsr-3131	89	6	this	this	DET
fsr-3131	89	7	total	total	NOUN
fsr-3131	89	8	the	the	DET
fsr-3131	89	9	expense	expense	NOUN
fsr-3131	89	10	ratio	ratio	NOUN
fsr-3131	89	11	of	of	ADP
fsr-3131	89	12	0.17	0.17	NUM
fsr-3131	89	13	%	%	NOUN
fsr-3131	89	14	for	for	ADP
fsr-3131	89	15	vfinx	vfinx	NOUN
fsr-3131	89	16	,	,	PUNCT
fsr-3131	89	17	and	and	CCONJ
fsr-3131	89	18	express	express	VERB
fsr-3131	89	19	the	the	DET
fsr-3131	89	20	“	"	PUNCT
fsr-3131	89	21	penalty	penalty	NOUN
fsr-3131	89	22	”	"	PUNCT
fsr-3131	89	23	as	as	ADP
fsr-3131	89	24	:	:	PUNCT
fsr-3131	89	25	total	total	ADJ
fsr-3131	89	26	replication	replication	NOUN
fsr-3131	89	27	expense	expense	NOUN
fsr-3131	89	28	(	(	PUNCT
fsr-3131	89	29	inverse	inverse	NOUN
fsr-3131	89	30	etf	etf	NOUN
fsr-3131	89	31	)	)	PUNCT
fsr-3131	89	32	�	�	PROPN
fsr-3131	89	33	0.90	0.90	NUM
fsr-3131	89	34	%	%	NOUN
fsr-3131	89	35	�	�	PROPN
fsr-3131	89	36	0.10	0.10	NUM
fsr-3131	89	37	%	%	NOUN
fsr-3131	89	38	�	�	PROPN
fsr-3131	89	39	0.20	0.20	NUM
fsr-3131	89	40	%	%	NOUN
fsr-3131	89	41	�	�	PROPN
fsr-3131	89	42	0.17	0.17	NUM
fsr-3131	89	43	%	%	NOUN
fsr-3131	89	44	�	�	PROPN
fsr-3131	89	45	1.03	1.03	NUM
fsr-3131	89	46	%	%	NOUN
fsr-3131	89	47	total	total	NOUN
fsr-3131	89	48	replication	replication	NOUN
fsr-3131	89	49	expense	expense	NOUN
fsr-3131	89	50	(	(	PUNCT
fsr-3131	89	51	leveraged	leveraged	ADJ
fsr-3131	89	52	etf	etf	NOUN
fsr-3131	89	53	)	)	PUNCT
fsr-3131	89	54	�	�	PROPN
fsr-3131	89	55	0.90	0.90	NUM
fsr-3131	89	56	%	%	NOUN
fsr-3131	89	57	�	�	PROPN
fsr-3131	89	58	0.08	0.08	NUM
fsr-3131	89	59	%	%	NOUN
fsr-3131	89	60	�	�	PROPN
fsr-3131	89	61	0.20	0.20	NUM
fsr-3131	89	62	%	%	NOUN
fsr-3131	89	63	�	�	PROPN
fsr-3131	89	64	0.17	0.17	NUM
fsr-3131	89	65	%	%	NOUN
fsr-3131	89	66	�	�	PROPN
fsr-3131	89	67	1.01	1.01	NUM
fsr-3131	89	68	%	%	NOUN
fsr-3131	89	69	no	no	DET
fsr-3131	89	70	attempt	attempt	NOUN
fsr-3131	89	71	to	to	PART
fsr-3131	89	72	model	model	VERB
fsr-3131	89	73	divergence	divergence	NOUN
fsr-3131	89	74	from	from	ADP
fsr-3131	89	75	the	the	DET
fsr-3131	89	76	daily	daily	ADJ
fsr-3131	89	77	benchmark	benchmark	NOUN
fsr-3131	89	78	was	be	AUX
fsr-3131	89	79	made	make	VERB
fsr-3131	89	80	,	,	PUNCT
fsr-3131	89	81	which	which	PRON
fsr-3131	89	82	can	can	AUX
fsr-3131	89	83	occur	occur	VERB
fsr-3131	89	84	when	when	SCONJ
fsr-3131	89	85	such	such	DET
fsr-3131	89	86	a	a	DET
fsr-3131	89	87	fund	fund	NOUN
fsr-3131	89	88	trades	trade	NOUN
fsr-3131	89	89	at	at	ADP
fsr-3131	89	90	either	either	CCONJ
fsr-3131	89	91	a	a	DET
fsr-3131	89	92	discount	discount	NOUN
fsr-3131	89	93	or	or	CCONJ
fsr-3131	89	94	premium	premium	NOUN
fsr-3131	89	95	.	.	PUNCT
fsr-3131	90	1	a	a	DET
fsr-3131	90	2	recent	recent	ADJ
fsr-3131	90	3	study	study	NOUN
fsr-3131	90	4	of	of	ADP
fsr-3131	90	5	inverse	inverse	NOUN
fsr-3131	90	6	fund	fund	NOUN
fsr-3131	90	7	performance	performance	NOUN
fsr-3131	90	8	suggests	suggest	VERB
fsr-3131	90	9	that	that	SCONJ
fsr-3131	90	10	such	such	DET
fsr-3131	90	11	a	a	DET
fsr-3131	90	12	premium	premium	NOUN
fsr-3131	90	13	or	or	CCONJ
fsr-3131	90	14	discount	discount	NOUN
fsr-3131	90	15	remain	remain	VERB
fsr-3131	90	16	fairly	fairly	ADV
fsr-3131	90	17	small	small	ADJ
fsr-3131	90	18	,	,	PUNCT
fsr-3131	90	19	and	and	CCONJ
fsr-3131	90	20	quickly	quickly	ADV
fsr-3131	90	21	revert	revert	VERB
fsr-3131	90	22	back	back	ADV
fsr-3131	90	23	to	to	ADP
fsr-3131	90	24	the	the	DET
fsr-3131	90	25	performance	performance	NOUN
fsr-3131	90	26	modeled	model	VERB
fsr-3131	90	27	here	here	ADV
fsr-3131	90	28	.	.	PUNCT
fsr-3131	91	1	gerasimos	gerasimos	NOUN
fsr-3131	91	2	(	(	PUNCT
fsr-3131	91	3	2011	2011	NUM
fsr-3131	91	4	)	)	PUNCT
fsr-3131	91	5	found	find	VERB
fsr-3131	91	6	that	that	SCONJ
fsr-3131	91	7	in	in	ADP
fsr-3131	91	8	particular	particular	ADJ
fsr-3131	91	9	,	,	PUNCT
fsr-3131	91	10	emphasis	emphasis	NOUN
fsr-3131	91	11	is	be	AUX
fsr-3131	91	12	given	give	VERB
fsr-3131	91	13	to	to	ADP
fsr-3131	91	14	the	the	DET
fsr-3131	91	15	ability	ability	NOUN
fsr-3131	91	16	of	of	ADP
fsr-3131	91	17	these	these	DET
fsr-3131	91	18	etfs	etfs	NOUN
fsr-3131	91	19	to	to	PART
fsr-3131	91	20	meet	meet	VERB
fsr-3131	91	21	their	their	PRON
fsr-3131	91	22	daily	daily	ADJ
fsr-3131	91	23	investment	investment	NOUN
fsr-3131	91	24	target	target	NOUN
fsr-3131	91	25	.	.	PUNCT
fsr-3131	92	1	in	in	ADP
fsr-3131	92	2	this	this	DET
fsr-3131	92	3	respect	respect	NOUN
fsr-3131	92	4	,	,	PUNCT
fsr-3131	92	5	an	an	DET
fsr-3131	92	6	average	average	ADJ
fsr-3131	92	7	deviation	deviation	NOUN
fsr-3131	92	8	from	from	ADP
fsr-3131	92	9	the	the	DET
fsr-3131	92	10	daily	daily	ADJ
fsr-3131	92	11	target	target	NOUN
fsr-3131	92	12	amounting	amount	VERB
fsr-3131	92	13	to	to	ADP
fsr-3131	92	14	�	�	NOUN
fsr-3131	92	15	0.034	0.034	NUM
fsr-3131	92	16	%	%	NOUN
fsr-3131	92	17	is	be	AUX
fsr-3131	92	18	computed	compute	VERB
fsr-3131	92	19	.	.	PUNCT
fsr-3131	93	1	applying	apply	VERB
fsr-3131	93	2	a	a	DET
fsr-3131	93	3	classification	classification	NOUN
fsr-3131	93	4	to	to	ADP
fsr-3131	93	5	the	the	DET
fsr-3131	93	6	deviation	deviation	NOUN
fsr-3131	93	7	from	from	ADP
fsr-3131	93	8	the	the	DET
fsr-3131	93	9	daily	daily	ADJ
fsr-3131	93	10	return	return	NOUN
fsr-3131	93	11	goal	goal	NOUN
fsr-3131	93	12	,	,	PUNCT
fsr-3131	93	13	they	they	PRON
fsr-3131	93	14	found	find	VERB
fsr-3131	93	15	that	that	SCONJ
fsr-3131	93	16	for	for	ADP
fsr-3131	93	17	about	about	ADV
fsr-3131	93	18	62	62	NUM
fsr-3131	93	19	%	%	NOUN
fsr-3131	93	20	of	of	ADP
fsr-3131	93	21	the	the	DET
fsr-3131	93	22	examined	examine	VERB
fsr-3131	93	23	trading	trading	NOUN
fsr-3131	93	24	period	period	NOUN
fsr-3131	93	25	’s	’s	PART
fsr-3131	93	26	duration	duration	NOUN
fsr-3131	93	27	the	the	DET
fsr-3131	93	28	return	return	NOUN
fsr-3131	93	29	of	of	ADP
fsr-3131	93	30	the	the	DET
fsr-3131	93	31	average	average	ADJ
fsr-3131	93	32	short	short	ADJ
fsr-3131	93	33	etf	etf	NOUN
fsr-3131	93	34	abstains	abstain	NOUN
fsr-3131	93	35	from	from	ADP
fsr-3131	93	36	its	its	PRON
fsr-3131	93	37	target	target	NOUN
fsr-3131	93	38	a	a	DET
fsr-3131	93	39	maximum	maximum	ADJ
fsr-3131	93	40	rate	rate	NOUN
fsr-3131	93	41	of	of	ADP
fsr-3131	93	42	0.5	0.5	NUM
fsr-3131	93	43	%	%	NOUN
fsr-3131	93	44	,	,	PUNCT
fsr-3131	93	45	either	either	CCONJ
fsr-3131	93	46	below	below	ADP
fsr-3131	93	47	or	or	CCONJ
fsr-3131	93	48	above	above	ADP
fsr-3131	93	49	the	the	DET
fsr-3131	93	50	target	target	NOUN
fsr-3131	93	51	.	.	PUNCT
fsr-3131	94	1	the	the	DET
fsr-3131	94	2	inverse	inverse	NOUN
fsr-3131	94	3	and	and	CCONJ
fsr-3131	94	4	leveraged	leveraged	ADJ
fsr-3131	94	5	equity	equity	NOUN
fsr-3131	94	6	model	model	NOUN
fsr-3131	94	7	used	use	VERB
fsr-3131	94	8	herein	herein	NOUN
fsr-3131	94	9	appears	appear	VERB
fsr-3131	94	10	to	to	PART
fsr-3131	94	11	be	be	AUX
fsr-3131	94	12	a	a	DET
fsr-3131	94	13	good	good	ADJ
fsr-3131	94	14	starting	starting	NOUN
fsr-3131	94	15	point	point	NOUN
fsr-3131	94	16	for	for	ADP
fsr-3131	94	17	this	this	DET
fsr-3131	94	18	investigation	investigation	NOUN
fsr-3131	94	19	,	,	PUNCT
fsr-3131	94	20	but	but	CCONJ
fsr-3131	94	21	does	do	AUX
fsr-3131	94	22	assume	assume	VERB
fsr-3131	94	23	certain	certain	ADJ
fsr-3131	94	24	risks	risk	NOUN
fsr-3131	94	25	of	of	ADP
fsr-3131	94	26	leveraged	leveraged	ADJ
fsr-3131	94	27	and	and	CCONJ
fsr-3131	94	28	inverse	inverse	NOUN
fsr-3131	94	29	funds	fund	NOUN
fsr-3131	94	30	are	be	AUX
fsr-3131	94	31	negligible	negligible	ADJ
fsr-3131	94	32	.	.	PUNCT
fsr-3131	95	1	in	in	ADP
fsr-3131	95	2	fact	fact	NOUN
fsr-3131	95	3	,	,	PUNCT
fsr-3131	95	4	investors	investor	NOUN
fsr-3131	95	5	are	be	AUX
fsr-3131	95	6	exposed	expose	VERB
fsr-3131	95	7	to	to	ADP
fsr-3131	95	8	other	other	ADJ
fsr-3131	95	9	risks	risk	NOUN
fsr-3131	95	10	because	because	SCONJ
fsr-3131	95	11	of	of	ADP
fsr-3131	95	12	the	the	DET
fsr-3131	95	13	construction	construction	NOUN
fsr-3131	95	14	of	of	ADP
fsr-3131	95	15	the	the	DET
fsr-3131	95	16	inverse	inverse	NOUN
fsr-3131	95	17	equity	equity	NOUN
fsr-3131	95	18	funds	fund	NOUN
fsr-3131	95	19	.	.	PUNCT
fsr-3131	96	1	inverse	inverse	NOUN
fsr-3131	96	2	equity	equity	NOUN
fsr-3131	96	3	funds	fund	NOUN
fsr-3131	96	4	replace	replace	VERB
fsr-3131	96	5	equity	equity	NOUN
fsr-3131	96	6	shares	share	NOUN
fsr-3131	96	7	with	with	ADP
fsr-3131	96	8	futures	future	NOUN
fsr-3131	96	9	and	and	CCONJ
fsr-3131	96	10	swaps	swap	NOUN
fsr-3131	96	11	to	to	PART
fsr-3131	96	12	guarantee	guarantee	VERB
fsr-3131	96	13	the	the	DET
fsr-3131	96	14	applicable	applicable	ADJ
fsr-3131	96	15	multiples	multiple	NOUN
fsr-3131	96	16	of	of	ADP
fsr-3131	96	17	return	return	NOUN
fsr-3131	96	18	.	.	PUNCT
fsr-3131	97	1	futures	future	NOUN
fsr-3131	97	2	have	have	VERB
fsr-3131	97	3	the	the	DET
fsr-3131	97	4	benefit	benefit	NOUN
fsr-3131	97	5	of	of	ADP
fsr-3131	97	6	having	have	VERB
fsr-3131	97	7	a	a	DET
fsr-3131	97	8	clearing	clearing	NOUN
fsr-3131	97	9	corporation	corporation	NOUN
fsr-3131	97	10	stated	state	VERB
fsr-3131	97	11	as	as	ADP
fsr-3131	97	12	the	the	DET
fsr-3131	97	13	counterparty	counterparty	NOUN
fsr-3131	97	14	,	,	PUNCT
fsr-3131	97	15	which	which	PRON
fsr-3131	97	16	has	have	VERB
fsr-3131	97	17	a	a	DET
fsr-3131	97	18	very	very	ADV
fsr-3131	97	19	favorable	favorable	ADJ
fsr-3131	97	20	credit	credit	NOUN
fsr-3131	97	21	risk	risk	NOUN
fsr-3131	97	22	advantage	advantage	NOUN
fsr-3131	97	23	.	.	PUNCT
fsr-3131	98	1	on	on	ADP
fsr-3131	98	2	the	the	DET
fsr-3131	98	3	other	other	ADJ
fsr-3131	98	4	hand	hand	NOUN
fsr-3131	98	5	,	,	PUNCT
fsr-3131	98	6	swaps	swap	NOUN
fsr-3131	98	7	clear	clear	ADJ
fsr-3131	98	8	through	through	ADP
fsr-3131	98	9	banks	bank	NOUN
fsr-3131	98	10	;	;	PUNCT
fsr-3131	98	11	this	this	PRON
fsr-3131	98	12	adds	add	VERB
fsr-3131	98	13	another	another	DET
fsr-3131	98	14	element	element	NOUN
fsr-3131	98	15	of	of	ADP
fsr-3131	98	16	credit	credit	NOUN
fsr-3131	98	17	risk	risk	NOUN
fsr-3131	98	18	.	.	PUNCT
fsr-3131	99	1	this	this	PRON
fsr-3131	99	2	is	be	AUX
fsr-3131	99	3	a	a	DET
fsr-3131	99	4	major	major	ADJ
fsr-3131	99	5	area	area	NOUN
fsr-3131	99	6	of	of	ADP
fsr-3131	99	7	concern	concern	NOUN
fsr-3131	99	8	not	not	PART
fsr-3131	99	9	fully	fully	ADV
fsr-3131	99	10	understood	understand	VERB
fsr-3131	99	11	.	.	PUNCT
fsr-3131	100	1	in	in	ADP
fsr-3131	100	2	addition	addition	NOUN
fsr-3131	100	3	,	,	PUNCT
fsr-3131	100	4	futures	future	NOUN
fsr-3131	100	5	also	also	ADV
fsr-3131	100	6	require	require	VERB
fsr-3131	100	7	standard	standard	ADJ
fsr-3131	100	8	amounts	amount	NOUN
fsr-3131	100	9	and	and	CCONJ
fsr-3131	100	10	fixed	fix	VERB
fsr-3131	100	11	times	time	NOUN
fsr-3131	100	12	to	to	ADP
fsr-3131	100	13	expiration	expiration	NOUN
fsr-3131	100	14	as	as	ADV
fsr-3131	100	15	well	well	ADV
fsr-3131	100	16	as	as	ADP
fsr-3131	100	17	being	be	AUX
fsr-3131	100	18	marked	mark	VERB
fsr-3131	100	19	to	to	ADP
fsr-3131	100	20	the	the	DET
fsr-3131	100	21	market	market	NOUN
fsr-3131	100	22	.	.	PUNCT
fsr-3131	101	1	swaps	swap	NOUN
fsr-3131	101	2	do	do	VERB
fsr-3131	101	3	not	not	PART
fsr-3131	101	4	.	.	PUNCT
fsr-3131	102	1	instead	instead	ADV
fsr-3131	102	2	,	,	PUNCT
fsr-3131	102	3	they	they	PRON
fsr-3131	102	4	are	be	AUX
fsr-3131	102	5	more	more	ADV
fsr-3131	102	6	flexible	flexible	ADJ
fsr-3131	102	7	that	that	SCONJ
fsr-3131	102	8	accounts	account	VERB
fsr-3131	102	9	for	for	ADP
fsr-3131	102	10	their	their	PRON
fsr-3131	102	11	popularity	popularity	NOUN
fsr-3131	102	12	.	.	PUNCT
fsr-3131	103	1	choi	choi	NOUN
fsr-3131	103	2	and	and	CCONJ
fsr-3131	103	3	elston	elston	PROPN
fsr-3131	103	4	(	(	PUNCT
fsr-3131	103	5	2009	2009	NUM
fsr-3131	103	6	)	)	PUNCT
fsr-3131	103	7	reported	report	VERB
fsr-3131	103	8	that	that	SCONJ
fsr-3131	103	9	proshares	proshare	NOUN
fsr-3131	103	10	inverse	inverse	ADJ
fsr-3131	103	11	s&p	s&p	PROPN
fsr-3131	103	12	500	500	NUM
fsr-3131	103	13	etf	etf	NOUN
fsr-3131	103	14	held	hold	VERB
fsr-3131	103	15	weightings	weighting	NOUN
fsr-3131	103	16	of	of	ADP
fsr-3131	103	17	91	91	NUM
fsr-3131	103	18	%	%	NOUN
fsr-3131	103	19	in	in	ADP
fsr-3131	103	20	swaps	swap	NOUN
fsr-3131	103	21	and	and	CCONJ
fsr-3131	103	22	but	but	CCONJ
fsr-3131	103	23	9	9	NUM
fsr-3131	103	24	%	%	NOUN
fsr-3131	103	25	127j.a	127j.a	NUM
fsr-3131	103	26	.	.	PUNCT
fsr-3131	104	1	dilellio	dilellio	PROPN
fsr-3131	104	2	,	,	PUNCT
fsr-3131	104	3	r.	r.	PROPN
fsr-3131	104	4	hesse	hesse	PROPN
fsr-3131	104	5	,	,	PUNCT
fsr-3131	104	6	d.j	d.j	PROPN
fsr-3131	104	7	.	.	PROPN
fsr-3131	104	8	stanley	stanley	PROPN
fsr-3131	104	9	/	/	SYM
fsr-3131	104	10	financial	financial	ADJ
fsr-3131	104	11	services	service	NOUN
fsr-3131	104	12	review	review	VERB
fsr-3131	104	13	23	23	NUM
fsr-3131	104	14	(	(	PUNCT
fsr-3131	104	15	2014	2014	NUM
fsr-3131	104	16	)	)	PUNCT
fsr-3131	104	17	123–149	123–149	NUM
fsr-3131	104	18	in	in	ADP
fsr-3131	104	19	futures	future	NOUN
fsr-3131	104	20	.	.	PUNCT
fsr-3131	105	1	further	far	ADV
fsr-3131	105	2	,	,	PUNCT
fsr-3131	105	3	cheng	cheng	PROPN
fsr-3131	105	4	and	and	CCONJ
fsr-3131	105	5	madhavan	madhavan	PROPN
fsr-3131	105	6	(	(	PUNCT
fsr-3131	105	7	2009	2009	NUM
fsr-3131	105	8	)	)	PUNCT
fsr-3131	105	9	noted	note	VERB
fsr-3131	105	10	that	that	SCONJ
fsr-3131	105	11	daily	daily	ADJ
fsr-3131	105	12	return	return	VERB
fsr-3131	105	13	streams	stream	NOUN
fsr-3131	105	14	from	from	ADP
fsr-3131	105	15	paired	pair	VERB
fsr-3131	105	16	leveraged	leveraged	ADJ
fsr-3131	105	17	and	and	CCONJ
fsr-3131	105	18	inversed	inverse	VERB
fsr-3131	105	19	leveraged	leveraged	ADJ
fsr-3131	105	20	etfs	etfs	NOUN
fsr-3131	105	21	do	do	AUX
fsr-3131	105	22	not	not	PART
fsr-3131	105	23	net	net	VERB
fsr-3131	105	24	out	out	ADP
fsr-3131	105	25	on	on	ADP
fsr-3131	105	26	a	a	DET
fsr-3131	105	27	daily	daily	ADJ
fsr-3131	105	28	basis	basis	NOUN
fsr-3131	105	29	.	.	PUNCT
fsr-3131	106	1	because	because	SCONJ
fsr-3131	106	2	of	of	ADP
fsr-3131	106	3	the	the	DET
fsr-3131	106	4	recent	recent	ADJ
fsr-3131	106	5	development	development	NOUN
fsr-3131	106	6	of	of	ADP
fsr-3131	106	7	inverse	inverse	NOUN
fsr-3131	106	8	and	and	CCONJ
fsr-3131	106	9	leveraged	leveraged	ADJ
fsr-3131	106	10	etfs	etfs	NOUN
fsr-3131	106	11	,	,	PUNCT
fsr-3131	106	12	and	and	CCONJ
fsr-3131	106	13	uncertainty	uncertainty	NOUN
fsr-3131	106	14	of	of	ADP
fsr-3131	106	15	return	return	NOUN
fsr-3131	106	16	distributions	distribution	NOUN
fsr-3131	106	17	of	of	ADP
fsr-3131	106	18	future	future	ADJ
fsr-3131	106	19	markets	market	NOUN
fsr-3131	106	20	,	,	PUNCT
fsr-3131	106	21	the	the	DET
fsr-3131	106	22	monte	monte	PROPN
fsr-3131	106	23	carlo	carlo	PROPN
fsr-3131	106	24	simulation	simulation	PROPN
fsr-3131	106	25	was	be	AUX
fsr-3131	106	26	developed	develop	VERB
fsr-3131	106	27	.	.	PUNCT
fsr-3131	107	1	by	by	ADP
fsr-3131	107	2	randomly	randomly	ADV
fsr-3131	107	3	drawing	draw	VERB
fsr-3131	107	4	from	from	ADP
fsr-3131	107	5	actual	actual	ADJ
fsr-3131	107	6	frequency	frequency	NOUN
fsr-3131	107	7	distributions	distribution	NOUN
fsr-3131	107	8	observed	observe	VERB
fsr-3131	107	9	within	within	ADP
fsr-3131	107	10	over	over	ADP
fsr-3131	107	11	two	two	NUM
fsr-3131	107	12	separate	separate	ADJ
fsr-3131	107	13	10	10	NUM
fsr-3131	107	14	year	year	NOUN
fsr-3131	107	15	periods	period	NOUN
fsr-3131	107	16	,	,	PUNCT
fsr-3131	107	17	we	we	PRON
fsr-3131	107	18	used	use	VERB
fsr-3131	107	19	an	an	DET
fsr-3131	107	20	approach	approach	NOUN
fsr-3131	107	21	similar	similar	ADJ
fsr-3131	107	22	to	to	ADP
fsr-3131	107	23	cheng	cheng	PROPN
fsr-3131	107	24	and	and	CCONJ
fsr-3131	107	25	estes	estes	PROPN
fsr-3131	107	26	(	(	PUNCT
fsr-3131	107	27	2010	2010	NUM
fsr-3131	107	28	)	)	PUNCT
fsr-3131	107	29	and	and	CCONJ
fsr-3131	107	30	ervin	ervin	PROPN
fsr-3131	107	31	et	et	PROPN
fsr-3131	107	32	al	al	PROPN
fsr-3131	107	33	.	.	PROPN
fsr-3131	108	1	(	(	PUNCT
fsr-3131	108	2	2009	2009	NUM
fsr-3131	108	3	)	)	PUNCT
fsr-3131	108	4	.	.	PUNCT
fsr-3131	109	1	each	each	DET
fsr-3131	109	2	frequency	frequency	NOUN
fsr-3131	109	3	distribution	distribution	NOUN
fsr-3131	109	4	was	be	AUX
fsr-3131	109	5	obtained	obtain	VERB
fsr-3131	109	6	from	from	ADP
fsr-3131	109	7	different	different	ADJ
fsr-3131	109	8	,	,	PUNCT
fsr-3131	109	9	non	non	ADJ
fsr-3131	109	10	-	-	ADJ
fsr-3131	109	11	overlapping	overlapping	ADJ
fsr-3131	109	12	time	time	NOUN
fsr-3131	109	13	periods	period	NOUN
fsr-3131	109	14	,	,	PUNCT
fsr-3131	109	15	thereby	thereby	ADV
fsr-3131	109	16	making	make	VERB
fsr-3131	109	17	them	they	PRON
fsr-3131	109	18	temporally	temporally	ADV
fsr-3131	109	19	uncorrelated	uncorrelate	VERB
fsr-3131	109	20	.	.	PUNCT
fsr-3131	110	1	these	these	DET
fsr-3131	110	2	time	time	NOUN
fsr-3131	110	3	periods	period	NOUN
fsr-3131	110	4	were	be	AUX
fsr-3131	110	5	categorized	categorize	VERB
fsr-3131	110	6	in	in	ADP
fsr-3131	110	7	terms	term	NOUN
fsr-3131	110	8	of	of	ADP
fsr-3131	110	9	overall	overall	ADJ
fsr-3131	110	10	equity	equity	NOUN
fsr-3131	110	11	market	market	NOUN
fsr-3131	110	12	returns	return	NOUN
fsr-3131	110	13	as	as	ADP
fsr-3131	110	14	a	a	DET
fsr-3131	110	15	“	"	PUNCT
fsr-3131	110	16	flat	flat	ADJ
fsr-3131	110	17	”	"	PUNCT
fsr-3131	110	18	from	from	ADP
fsr-3131	110	19	2001	2001	NUM
fsr-3131	110	20	to	to	ADP
fsr-3131	110	21	2010	2010	NUM
fsr-3131	110	22	,	,	PUNCT
fsr-3131	110	23	and	and	CCONJ
fsr-3131	110	24	“	"	PUNCT
fsr-3131	110	25	rising	rise	VERB
fsr-3131	110	26	”	"	PUNCT
fsr-3131	110	27	from	from	ADP
fsr-3131	110	28	1991	1991	NUM
fsr-3131	110	29	to	to	ADP
fsr-3131	110	30	2000	2000	NUM
fsr-3131	110	31	.	.	PUNCT
fsr-3131	111	1	the	the	DET
fsr-3131	111	2	descriptive	descriptive	ADJ
fsr-3131	111	3	statistics	statistic	NOUN
fsr-3131	111	4	over	over	ADP
fsr-3131	111	5	these	these	DET
fsr-3131	111	6	periods	period	NOUN
fsr-3131	111	7	are	be	AUX
fsr-3131	111	8	summarized	summarize	VERB
fsr-3131	111	9	in	in	ADP
fsr-3131	111	10	table	table	NOUN
fsr-3131	111	11	3	3	NUM
fsr-3131	111	12	.	.	PUNCT
fsr-3131	112	1	annualized	annualize	VERB
fsr-3131	112	2	values	value	NOUN
fsr-3131	112	3	were	be	AUX
fsr-3131	112	4	determined	determine	VERB
fsr-3131	112	5	by	by	ADP
fsr-3131	112	6	assuming	assume	VERB
fsr-3131	112	7	an	an	DET
fsr-3131	112	8	average	average	NOUN
fsr-3131	112	9	of	of	ADP
fsr-3131	112	10	20	20	NUM
fsr-3131	112	11	trading	trading	NOUN
fsr-3131	112	12	days	day	NOUN
fsr-3131	112	13	in	in	ADP
fsr-3131	112	14	a	a	DET
fsr-3131	112	15	month	month	NOUN
fsr-3131	112	16	.	.	PUNCT
fsr-3131	113	1	then	then	ADV
fsr-3131	113	2	,	,	PUNCT
fsr-3131	113	3	annualized	annualize	VERB
fsr-3131	113	4	returns	return	NOUN
fsr-3131	113	5	are	be	AUX
fsr-3131	113	6	found	find	VERB
fsr-3131	113	7	from	from	ADP
fsr-3131	113	8	the	the	DET
fsr-3131	113	9	average	average	ADJ
fsr-3131	113	10	daily	daily	ADJ
fsr-3131	113	11	returns	return	NOUN
fsr-3131	113	12	multiplied	multiply	VERB
fsr-3131	113	13	by	by	ADP
fsr-3131	113	14	20	20	NUM
fsr-3131	113	15	*	*	SYM
fsr-3131	113	16	12	12	NUM
fsr-3131	113	17	and	and	CCONJ
fsr-3131	113	18	annualized	annualize	VERB
fsr-3131	113	19	standard	standard	ADJ
fsr-3131	113	20	deviations	deviation	NOUN
fsr-3131	113	21	were	be	AUX
fsr-3131	113	22	found	find	VERB
fsr-3131	113	23	from	from	ADP
fsr-3131	113	24	daily	daily	ADJ
fsr-3131	113	25	standard	standard	ADJ
fsr-3131	113	26	deviations	deviation	NOUN
fsr-3131	113	27	multiplied	multiply	VERB
fsr-3131	113	28	by	by	ADP
fsr-3131	113	29	(	(	PUNCT
fsr-3131	113	30	20	20	NUM
fsr-3131	113	31	*	*	NUM
fsr-3131	113	32	12)1/2	12)1/2	NUM
fsr-3131	113	33	.	.	PUNCT
fsr-3131	114	1	daily	daily	ADJ
fsr-3131	114	2	returns	return	NOUN
fsr-3131	114	3	were	be	AUX
fsr-3131	114	4	found	find	VERB
fsr-3131	114	5	as	as	ADP
fsr-3131	114	6	“	"	PUNCT
fsr-3131	114	7	adjusted	adjusted	ADJ
fsr-3131	114	8	closing	closing	NOUN
fsr-3131	114	9	price	price	NOUN
fsr-3131	114	10	at	at	ADP
fsr-3131	114	11	day	day	NOUN
fsr-3131	114	12	t	t	PROPN
fsr-3131	114	13	”	"	PUNCT
fsr-3131	114	14	divided	divide	VERB
fsr-3131	114	15	by	by	ADP
fsr-3131	114	16	“	"	PUNCT
fsr-3131	114	17	adjusted	adjust	VERB
fsr-3131	114	18	closing	closing	NOUN
fsr-3131	114	19	price	price	NOUN
fsr-3131	114	20	at	at	ADP
fsr-3131	114	21	day	day	NOUN
fsr-3131	114	22	t-1	t-1	PROPN
fsr-3131	114	23	”	"	PUNCT
fsr-3131	114	24	minus	minus	CCONJ
fsr-3131	114	25	1	1	NUM
fsr-3131	114	26	.	.	PUNCT
fsr-3131	115	1	a	a	DET
fsr-3131	115	2	review	review	NOUN
fsr-3131	115	3	of	of	ADP
fsr-3131	115	4	table	table	NOUN
fsr-3131	115	5	3	3	NUM
fsr-3131	115	6	suggests	suggest	VERB
fsr-3131	115	7	several	several	ADJ
fsr-3131	115	8	important	important	ADJ
fsr-3131	115	9	behaviors	behavior	NOUN
fsr-3131	115	10	were	be	AUX
fsr-3131	115	11	observed	observe	VERB
fsr-3131	115	12	in	in	ADP
fsr-3131	115	13	the	the	DET
fsr-3131	115	14	time	time	NOUN
fsr-3131	115	15	periods	period	NOUN
fsr-3131	115	16	considered	consider	VERB
fsr-3131	115	17	.	.	PUNCT
fsr-3131	116	1	first	first	ADV
fsr-3131	116	2	,	,	PUNCT
fsr-3131	116	3	bond	bond	NOUN
fsr-3131	116	4	returns	return	NOUN
fsr-3131	116	5	were	be	AUX
fsr-3131	116	6	always	always	ADV
fsr-3131	116	7	positive	positive	ADJ
fsr-3131	116	8	in	in	ADP
fsr-3131	116	9	a	a	DET
fsr-3131	116	10	fairly	fairly	ADV
fsr-3131	116	11	narrow	narrow	ADJ
fsr-3131	116	12	annualized	annualize	VERB
fsr-3131	116	13	return	return	NOUN
fsr-3131	116	14	range	range	NOUN
fsr-3131	116	15	of	of	ADP
fsr-3131	116	16	�	�	NOUN
fsr-3131	116	17	5–7	5–7	NUM
fsr-3131	116	18	%	%	NOUN
fsr-3131	116	19	,	,	PUNCT
fsr-3131	116	20	and	and	CCONJ
fsr-3131	116	21	mean	mean	VERB
fsr-3131	116	22	daily	daily	ADJ
fsr-3131	116	23	bond	bond	NOUN
fsr-3131	116	24	returns	return	NOUN
fsr-3131	116	25	were	be	AUX
fsr-3131	116	26	not	not	PART
fsr-3131	116	27	statistically	statistically	ADV
fsr-3131	116	28	different	different	ADJ
fsr-3131	116	29	between	between	ADP
fsr-3131	116	30	the	the	DET
fsr-3131	116	31	two	two	NUM
fsr-3131	116	32	10	10	NUM
fsr-3131	116	33	-	-	PUNCT
fsr-3131	116	34	year	year	NOUN
fsr-3131	116	35	sample	sample	NOUN
fsr-3131	116	36	periods	period	NOUN
fsr-3131	116	37	(	(	PUNCT
fsr-3131	116	38	p	p	ADJ
fsr-3131	116	39	-	-	PUNCT
fsr-3131	116	40	value	value	NOUN
fsr-3131	116	41	�	�	PROPN
fsr-3131	116	42	0.28	0.28	NUM
fsr-3131	116	43	)	)	PUNCT
fsr-3131	116	44	.	.	PUNCT
fsr-3131	117	1	bond	bond	NOUN
fsr-3131	117	2	volatility	volatility	NOUN
fsr-3131	117	3	was	be	AUX
fsr-3131	117	4	also	also	ADV
fsr-3131	117	5	nearly	nearly	ADV
fsr-3131	117	6	constant	constant	ADJ
fsr-3131	117	7	,	,	PUNCT
fsr-3131	117	8	as	as	SCONJ
fsr-3131	117	9	measured	measure	VERB
fsr-3131	117	10	by	by	ADP
fsr-3131	117	11	the	the	DET
fsr-3131	117	12	annualized	annualize	VERB
fsr-3131	117	13	standard	standard	ADJ
fsr-3131	117	14	deviation	deviation	NOUN
fsr-3131	117	15	ranging	range	VERB
fsr-3131	117	16	between	between	ADP
fsr-3131	117	17	4.39	4.39	NUM
fsr-3131	117	18	%	%	NOUN
fsr-3131	117	19	to	to	ADP
fsr-3131	117	20	4.49	4.49	NUM
fsr-3131	117	21	%	%	NOUN
fsr-3131	117	22	.	.	PUNCT
fsr-3131	118	1	the	the	DET
fsr-3131	118	2	bond	bond	NOUN
fsr-3131	118	3	returns	return	NOUN
fsr-3131	118	4	were	be	AUX
fsr-3131	118	5	in	in	ADP
fsr-3131	118	6	stark	stark	ADJ
fsr-3131	118	7	contrast	contrast	NOUN
fsr-3131	118	8	to	to	ADP
fsr-3131	118	9	the	the	DET
fsr-3131	118	10	returns	return	NOUN
fsr-3131	118	11	exhibited	exhibit	VERB
fsr-3131	118	12	by	by	ADP
fsr-3131	118	13	stocks	stock	NOUN
fsr-3131	118	14	over	over	ADP
fsr-3131	118	15	these	these	DET
fsr-3131	118	16	periods	period	NOUN
fsr-3131	118	17	.	.	PUNCT
fsr-3131	119	1	annualized	annualize	VERB
fsr-3131	119	2	stock	stock	NOUN
fsr-3131	119	3	returns	return	NOUN
fsr-3131	119	4	varied	varied	ADJ
fsr-3131	119	5	significantly	significantly	ADV
fsr-3131	119	6	,	,	PUNCT
fsr-3131	119	7	between	between	ADP
fsr-3131	119	8	3.51	3.51	NUM
fsr-3131	119	9	%	%	NOUN
fsr-3131	119	10	and	and	CCONJ
fsr-3131	119	11	16.27	16.27	NUM
fsr-3131	119	12	%	%	NOUN
fsr-3131	119	13	,	,	PUNCT
fsr-3131	119	14	and	and	CCONJ
fsr-3131	119	15	the	the	DET
fsr-3131	119	16	mean	mean	ADJ
fsr-3131	119	17	daily	daily	ADJ
fsr-3131	119	18	stock	stock	NOUN
fsr-3131	119	19	returns	return	NOUN
fsr-3131	119	20	were	be	AUX
fsr-3131	119	21	statistically	statistically	ADV
fsr-3131	119	22	different	different	ADJ
fsr-3131	119	23	at	at	ADP
fsr-3131	119	24	a	a	DET
fsr-3131	119	25	p	p	ADJ
fsr-3131	119	26	-	-	PUNCT
fsr-3131	119	27	value	value	NOUN
fsr-3131	119	28	�	�	PROPN
fsr-3131	119	29	0.11	0.11	NUM
fsr-3131	119	30	.	.	PUNCT
fsr-3131	120	1	the	the	DET
fsr-3131	120	2	period	period	NOUN
fsr-3131	120	3	from	from	ADP
fsr-3131	120	4	2001	2001	NUM
fsr-3131	120	5	to	to	ADP
fsr-3131	120	6	2010	2010	NUM
fsr-3131	120	7	also	also	ADV
fsr-3131	120	8	had	have	VERB
fsr-3131	120	9	a	a	DET
fsr-3131	120	10	noticeable	noticeable	ADJ
fsr-3131	120	11	increase	increase	NOUN
fsr-3131	120	12	in	in	ADP
fsr-3131	120	13	volatility	volatility	NOUN
fsr-3131	120	14	of	of	ADP
fsr-3131	120	15	�	�	PROPN
fsr-3131	120	16	6	6	NUM
fsr-3131	120	17	%	%	NOUN
fsr-3131	120	18	(	(	PUNCT
fsr-3131	120	19	annualized	annualize	VERB
fsr-3131	120	20	)	)	PUNCT
fsr-3131	120	21	versus	versus	ADP
fsr-3131	120	22	the	the	DET
fsr-3131	120	23	previous	previous	ADJ
fsr-3131	120	24	decade	decade	NOUN
fsr-3131	120	25	.	.	PUNCT
fsr-3131	121	1	the	the	DET
fsr-3131	121	2	inverse	inverse	NOUN
fsr-3131	121	3	stock	stock	NOUN
fsr-3131	121	4	investment	investment	NOUN
fsr-3131	121	5	generated	generate	VERB
fsr-3131	121	6	a	a	DET
fsr-3131	121	7	total	total	ADJ
fsr-3131	121	8	return	return	NOUN
fsr-3131	121	9	that	that	PRON
fsr-3131	121	10	was	be	AUX
fsr-3131	121	11	negative	negative	ADJ
fsr-3131	121	12	in	in	ADP
fsr-3131	121	13	all	all	DET
fsr-3131	121	14	cases	case	NOUN
fsr-3131	121	15	,	,	PUNCT
fsr-3131	121	16	which	which	PRON
fsr-3131	121	17	is	be	AUX
fsr-3131	121	18	consistent	consistent	ADJ
fsr-3131	121	19	with	with	ADP
fsr-3131	121	20	the	the	DET
fsr-3131	121	21	wealth	wealth	NOUN
fsr-3131	121	22	destruction	destruction	NOUN
fsr-3131	121	23	expected	expect	VERB
fsr-3131	121	24	analytically	analytically	ADV
fsr-3131	121	25	from	from	ADP
fsr-3131	121	26	cheng	cheng	PROPN
fsr-3131	121	27	and	and	CCONJ
fsr-3131	121	28	madhavan	madhavan	PROPN
fsr-3131	121	29	(	(	PUNCT
fsr-3131	121	30	2009	2009	NUM
fsr-3131	121	31	)	)	PUNCT
fsr-3131	121	32	,	,	PUNCT
fsr-3131	121	33	because	because	SCONJ
fsr-3131	121	34	of	of	ADP
fsr-3131	121	35	the	the	DET
fsr-3131	121	36	negative	negative	ADJ
fsr-3131	121	37	expected	expected	ADJ
fsr-3131	121	38	return	return	NOUN
fsr-3131	121	39	over	over	ADP
fsr-3131	121	40	long	long	ADJ
fsr-3131	121	41	holding	holding	NOUN
fsr-3131	121	42	periods	period	NOUN
fsr-3131	121	43	conversely	conversely	ADV
fsr-3131	121	44	,	,	PUNCT
fsr-3131	121	45	the	the	DET
fsr-3131	121	46	leveraged	leverage	VERB
fsr-3131	121	47	stock	stock	NOUN
fsr-3131	121	48	fund	fund	NOUN
fsr-3131	121	49	had	have	VERB
fsr-3131	121	50	a	a	DET
fsr-3131	121	51	large	large	ADJ
fsr-3131	121	52	positive	positive	ADJ
fsr-3131	121	53	total	total	ADJ
fsr-3131	121	54	return	return	NOUN
fsr-3131	121	55	in	in	ADP
fsr-3131	121	56	the	the	DET
fsr-3131	121	57	1991–2000	1991–2000	NUM
fsr-3131	121	58	case	case	NOUN
fsr-3131	121	59	,	,	PUNCT
fsr-3131	121	60	and	and	CCONJ
fsr-3131	121	61	a	a	DET
fsr-3131	121	62	negative	negative	ADJ
fsr-3131	121	63	total	total	ADJ
fsr-3131	121	64	return	return	NOUN
fsr-3131	121	65	in	in	ADP
fsr-3131	121	66	the	the	DET
fsr-3131	121	67	2001–2010	2001–2010	NUM
fsr-3131	121	68	time	time	NOUN
fsr-3131	121	69	period	period	NOUN
fsr-3131	121	70	.	.	PUNCT
fsr-3131	122	1	table	table	NOUN
fsr-3131	122	2	3	3	NUM
fsr-3131	122	3	return	return	NOUN
fsr-3131	122	4	statistics	statistic	NOUN
fsr-3131	122	5	from	from	ADP
fsr-3131	122	6	daily	daily	ADJ
fsr-3131	122	7	returns	return	NOUN
fsr-3131	122	8	over	over	ADP
fsr-3131	122	9	historical	historical	ADJ
fsr-3131	122	10	10	10	NUM
fsr-3131	122	11	-	-	PUNCT
fsr-3131	122	12	year	year	NOUN
fsr-3131	122	13	periods	period	NOUN
fsr-3131	122	14	return	return	NOUN
fsr-3131	122	15	(	(	PUNCT
fsr-3131	122	16	annualized	annualize	VERB
fsr-3131	122	17	)	)	PUNCT
fsr-3131	122	18	standard	standard	ADJ
fsr-3131	122	19	deviation	deviation	NOUN
fsr-3131	122	20	(	(	PUNCT
fsr-3131	122	21	annualized	annualize	VERB
fsr-3131	122	22	)	)	PUNCT
fsr-3131	122	23	total	total	ADJ
fsr-3131	122	24	return	return	NOUN
fsr-3131	122	25	bonds	bond	NOUN
fsr-3131	122	26	5.22	5.22	NUM
fsr-3131	122	27	%	%	NOUN
fsr-3131	122	28	4.39	4.39	NUM
fsr-3131	122	29	%	%	NOUN
fsr-3131	122	30	72.5	72.5	NUM
fsr-3131	122	31	%	%	NOUN
fsr-3131	122	32	stock	stock	NOUN
fsr-3131	122	33	3.51	3.51	NUM
fsr-3131	122	34	%	%	NOUN
fsr-3131	122	35	21.3	21.3	NUM
fsr-3131	122	36	%	%	NOUN
fsr-3131	122	37	13.9	13.9	NUM
fsr-3131	122	38	%	%	NOUN
fsr-3131	122	39	inverse	inverse	NOUN
fsr-3131	122	40	stock	stock	NOUN
fsr-3131	122	41	�	�	PROPN
fsr-3131	122	42	3.51	3.51	NUM
fsr-3131	122	43	%	%	NOUN
fsr-3131	122	44	21.3	21.3	NUM
fsr-3131	122	45	%	%	NOUN
fsr-3131	122	46	�	�	NOUN
fsr-3131	122	47	45.5	45.5	NUM
fsr-3131	122	48	%	%	NOUN
fsr-3131	122	49	leveraged	leverage	VERB
fsr-3131	122	50	stock	stock	NOUN
fsr-3131	122	51	7.03	7.03	NUM
fsr-3131	122	52	%	%	NOUN
fsr-3131	122	53	42.6	42.6	NUM
fsr-3131	122	54	%	%	NOUN
fsr-3131	122	55	�	�	NOUN
fsr-3131	122	56	19.5	19.5	NUM
fsr-3131	122	57	%	%	NOUN
fsr-3131	122	58	“	"	PUNCT
fsr-3131	122	59	flat	flat	ADJ
fsr-3131	122	60	”	"	PUNCT
fsr-3131	122	61	january	january	PROPN
fsr-3131	122	62	2	2	NUM
fsr-3131	122	63	,	,	PUNCT
fsr-3131	122	64	2001	2001	NUM
fsr-3131	122	65	to	to	ADP
fsr-3131	122	66	december	december	PROPN
fsr-3131	122	67	31	31	NUM
fsr-3131	122	68	,	,	PUNCT
fsr-3131	122	69	2010	2010	NUM
fsr-3131	122	70	,	,	PUNCT
fsr-3131	122	71	n	n	X
fsr-3131	122	72	�	�	PROPN
fsr-3131	122	73	2,516	2,516	NUM
fsr-3131	122	74	samples	sample	NOUN
fsr-3131	122	75	bonds	bond	NOUN
fsr-3131	122	76	7.30	7.30	NUM
fsr-3131	122	77	%	%	NOUN
fsr-3131	122	78	4.49	4.49	NUM
fsr-3131	122	79	%	%	NOUN
fsr-3131	122	80	113.33	113.33	NUM
fsr-3131	122	81	%	%	NOUN
fsr-3131	122	82	stock	stock	NOUN
fsr-3131	122	83	16.27	16.27	NUM
fsr-3131	122	84	%	%	NOUN
fsr-3131	122	85	14.57	14.57	NUM
fsr-3131	122	86	%	%	NOUN
fsr-3131	122	87	395.5	395.5	NUM
fsr-3131	122	88	%	%	NOUN
fsr-3131	122	89	inverse	inverse	NOUN
fsr-3131	122	90	stock	stock	NOUN
fsr-3131	122	91	�	�	PROPN
fsr-3131	122	92	16.27	16.27	NUM
fsr-3131	122	93	%	%	NOUN
fsr-3131	122	94	14.57	14.57	NUM
fsr-3131	122	95	%	%	NOUN
fsr-3131	122	96	�	�	NOUN
fsr-3131	122	97	83.88	83.88	NUM
fsr-3131	122	98	%	%	NOUN
fsr-3131	122	99	leveraged	leverage	VERB
fsr-3131	122	100	stock	stock	NOUN
fsr-3131	122	101	32.53	32.53	NUM
fsr-3131	122	102	%	%	NOUN
fsr-3131	122	103	29.15	29.15	NUM
fsr-3131	122	104	%	%	NOUN
fsr-3131	122	105	1860.2	1860.2	NUM
fsr-3131	122	106	%	%	NOUN
fsr-3131	122	107	“	"	PUNCT
fsr-3131	122	108	rising	rise	VERB
fsr-3131	122	109	”	"	PUNCT
fsr-3131	122	110	january	january	PROPN
fsr-3131	122	111	2	2	NUM
fsr-3131	122	112	,	,	PUNCT
fsr-3131	122	113	1991	1991	NUM
fsr-3131	122	114	to	to	ADP
fsr-3131	122	115	december	december	PROPN
fsr-3131	122	116	29	29	NUM
fsr-3131	122	117	,	,	PUNCT
fsr-3131	122	118	2000	2000	NUM
fsr-3131	122	119	,	,	PUNCT
fsr-3131	122	120	n	n	PRON
fsr-3131	122	121	�	�	PROPN
fsr-3131	122	122	2,527	2,527	NUM
fsr-3131	122	123	samples	sample	NOUN
fsr-3131	122	124	notes	note	NOUN
fsr-3131	122	125	.	.	PUNCT
fsr-3131	123	1	this	this	DET
fsr-3131	123	2	table	table	NOUN
fsr-3131	123	3	shows	show	VERB
fsr-3131	123	4	the	the	DET
fsr-3131	123	5	return	return	NOUN
fsr-3131	123	6	statistics	statistic	NOUN
fsr-3131	123	7	from	from	ADP
fsr-3131	123	8	the	the	DET
fsr-3131	123	9	two	two	NUM
fsr-3131	123	10	10	10	NUM
fsr-3131	123	11	-	-	PUNCT
fsr-3131	123	12	year	year	NOUN
fsr-3131	123	13	periods	period	NOUN
fsr-3131	123	14	observed	observe	VERB
fsr-3131	123	15	from	from	ADP
fsr-3131	123	16	adjusted	adjust	VERB
fsr-3131	123	17	closing	closing	NOUN
fsr-3131	123	18	prices	price	NOUN
fsr-3131	123	19	of	of	ADP
fsr-3131	123	20	stock	stock	NOUN
fsr-3131	123	21	and	and	CCONJ
fsr-3131	123	22	bond	bond	NOUN
fsr-3131	123	23	market	market	NOUN
fsr-3131	123	24	proxies	proxy	NOUN
fsr-3131	123	25	.	.	PUNCT
fsr-3131	124	1	inverse	inverse	NOUN
fsr-3131	124	2	and	and	CCONJ
fsr-3131	124	3	leveraged	leverage	VERB
fsr-3131	124	4	stock	stock	NOUN
fsr-3131	124	5	return	return	NOUN
fsr-3131	124	6	statistics	statistic	NOUN
fsr-3131	124	7	are	be	AUX
fsr-3131	124	8	generated	generate	VERB
fsr-3131	124	9	assuming	assume	VERB
fsr-3131	124	10	perfect	perfect	ADJ
fsr-3131	124	11	replication	replication	NOUN
fsr-3131	124	12	of	of	ADP
fsr-3131	124	13	negative	negative	ADJ
fsr-3131	124	14	and	and	CCONJ
fsr-3131	124	15	double	double	ADJ
fsr-3131	124	16	daily	daily	ADJ
fsr-3131	124	17	return	return	NOUN
fsr-3131	124	18	from	from	ADP
fsr-3131	124	19	the	the	DET
fsr-3131	124	20	stock	stock	NOUN
fsr-3131	124	21	return	return	NOUN
fsr-3131	124	22	,	,	PUNCT
fsr-3131	124	23	respectively	respectively	ADV
fsr-3131	124	24	.	.	PUNCT
fsr-3131	125	1	128	128	NUM
fsr-3131	125	2	j.a	j.a	PROPN
fsr-3131	125	3	.	.	PROPN
fsr-3131	125	4	dilellio	dilellio	PROPN
fsr-3131	125	5	,	,	PUNCT
fsr-3131	125	6	r.	r.	PROPN
fsr-3131	125	7	hesse	hesse	PROPN
fsr-3131	125	8	,	,	PUNCT
fsr-3131	125	9	d.j	d.j	PROPN
fsr-3131	125	10	.	.	PROPN
fsr-3131	125	11	stanley	stanley	PROPN
fsr-3131	125	12	/	/	SYM
fsr-3131	125	13	financial	financial	ADJ
fsr-3131	125	14	services	service	NOUN
fsr-3131	125	15	review	review	VERB
fsr-3131	125	16	23	23	NUM
fsr-3131	125	17	(	(	PUNCT
fsr-3131	125	18	2014	2014	NUM
fsr-3131	125	19	)	)	PUNCT
fsr-3131	126	1	123–149	123–149	NUM
fsr-3131	126	2	an	an	DET
fsr-3131	126	3	important	important	ADJ
fsr-3131	126	4	aspect	aspect	NOUN
fsr-3131	126	5	of	of	ADP
fsr-3131	126	6	table	table	NOUN
fsr-3131	126	7	3	3	NUM
fsr-3131	126	8	is	be	AUX
fsr-3131	126	9	the	the	DET
fsr-3131	126	10	distinction	distinction	NOUN
fsr-3131	126	11	between	between	ADP
fsr-3131	126	12	annualized	annualize	VERB
fsr-3131	126	13	and	and	CCONJ
fsr-3131	126	14	total	total	ADJ
fsr-3131	126	15	returns	return	NOUN
fsr-3131	126	16	.	.	PUNCT
fsr-3131	127	1	the	the	DET
fsr-3131	127	2	annualized	annualize	VERB
fsr-3131	127	3	returns	return	NOUN
fsr-3131	127	4	for	for	ADP
fsr-3131	127	5	inverse	inverse	ADJ
fsr-3131	127	6	stocks	stock	NOUN
fsr-3131	127	7	were	be	AUX
fsr-3131	127	8	always	always	ADV
fsr-3131	127	9	“	"	PUNCT
fsr-3131	127	10	negative	negative	ADJ
fsr-3131	127	11	”	"	PUNCT
fsr-3131	127	12	of	of	ADP
fsr-3131	127	13	the	the	DET
fsr-3131	127	14	stock	stock	NOUN
fsr-3131	127	15	returns	return	NOUN
fsr-3131	127	16	and	and	CCONJ
fsr-3131	127	17	the	the	DET
fsr-3131	127	18	leveraged	leverage	VERB
fsr-3131	127	19	stock	stock	NOUN
fsr-3131	127	20	was	be	AUX
fsr-3131	127	21	always	always	ADV
fsr-3131	127	22	2	2	NUM
fsr-3131	127	23	�	�	PROPN
fsr-3131	127	24	the	the	DET
fsr-3131	127	25	stock	stock	NOUN
fsr-3131	127	26	returns	return	NOUN
fsr-3131	127	27	,	,	PUNCT
fsr-3131	127	28	but	but	CCONJ
fsr-3131	127	29	the	the	DET
fsr-3131	127	30	total	total	ADJ
fsr-3131	127	31	returns	return	NOUN
fsr-3131	127	32	differ	differ	VERB
fsr-3131	127	33	.	.	PUNCT
fsr-3131	128	1	this	this	DET
fsr-3131	128	2	behavior	behavior	NOUN
fsr-3131	128	3	is	be	AUX
fsr-3131	128	4	because	because	SCONJ
fsr-3131	128	5	of	of	ADP
fsr-3131	128	6	the	the	DET
fsr-3131	128	7	path	path	NOUN
fsr-3131	128	8	dependency	dependency	NOUN
fsr-3131	128	9	discussed	discuss	VERB
fsr-3131	128	10	previously	previously	ADV
fsr-3131	128	11	,	,	PUNCT
fsr-3131	128	12	and	and	CCONJ
fsr-3131	128	13	will	will	AUX
fsr-3131	128	14	be	be	AUX
fsr-3131	128	15	examined	examine	VERB
fsr-3131	128	16	through	through	ADP
fsr-3131	128	17	simulating	simulate	VERB
fsr-3131	128	18	other	other	ADJ
fsr-3131	128	19	paths	path	NOUN
fsr-3131	128	20	drawn	draw	VERB
fsr-3131	128	21	from	from	ADP
fsr-3131	128	22	the	the	DET
fsr-3131	128	23	daily	daily	ADJ
fsr-3131	128	24	return	return	NOUN
fsr-3131	128	25	distributions	distribution	NOUN
fsr-3131	128	26	that	that	PRON
fsr-3131	128	27	match	match	VERB
fsr-3131	128	28	historical	historical	ADJ
fsr-3131	128	29	returns	return	NOUN
fsr-3131	128	30	.	.	PUNCT
fsr-3131	129	1	for	for	ADP
fsr-3131	129	2	the	the	DET
fsr-3131	129	3	historical	historical	ADJ
fsr-3131	129	4	periods	period	NOUN
fsr-3131	129	5	considered	consider	VERB
fsr-3131	129	6	here	here	ADV
fsr-3131	129	7	,	,	PUNCT
fsr-3131	129	8	the	the	DET
fsr-3131	129	9	time	time	NOUN
fsr-3131	129	10	series	series	NOUN
fsr-3131	129	11	of	of	ADP
fsr-3131	129	12	cumulative	cumulative	ADJ
fsr-3131	129	13	returns	return	NOUN
fsr-3131	129	14	are	be	AUX
fsr-3131	129	15	illustrated	illustrate	VERB
fsr-3131	129	16	in	in	ADP
fsr-3131	129	17	fig	fig	NOUN
fsr-3131	129	18	.	.	PUNCT
fsr-3131	130	1	1	1	NUM
fsr-3131	131	1	for	for	ADP
fsr-3131	131	2	2001	2001	NUM
fsr-3131	131	3	to	to	ADP
fsr-3131	131	4	2010	2010	NUM
fsr-3131	131	5	and	and	CCONJ
fsr-3131	131	6	fig	fig	NOUN
fsr-3131	131	7	.	.	PUNCT
fsr-3131	131	8	2	2	NUM
fsr-3131	131	9	for	for	ADP
fsr-3131	131	10	1991	1991	NUM
fsr-3131	131	11	to	to	ADP
fsr-3131	131	12	2000	2000	NUM
fsr-3131	131	13	.	.	PUNCT
fsr-3131	132	1	note	note	VERB
fsr-3131	132	2	that	that	SCONJ
fsr-3131	132	3	the	the	DET
fsr-3131	132	4	extreme	extreme	ADJ
fsr-3131	132	5	difference	difference	NOUN
fsr-3131	132	6	in	in	ADP
fsr-3131	132	7	scale	scale	NOUN
fsr-3131	132	8	between	between	ADP
fsr-3131	132	9	fig	fig	NOUN
fsr-3131	132	10	.	.	PUNCT
fsr-3131	132	11	1	1	NUM
fsr-3131	132	12	and	and	CCONJ
fsr-3131	132	13	fig	fig	NOUN
fsr-3131	132	14	.	.	PUNCT
fsr-3131	133	1	2	2	NUM
fsr-3131	133	2	were	be	AUX
fsr-3131	133	3	intentional	intentional	ADJ
fsr-3131	133	4	so	so	SCONJ
fsr-3131	133	5	that	that	SCONJ
fsr-3131	133	6	it	it	PRON
fsr-3131	133	7	is	be	AUX
fsr-3131	133	8	clear	clear	ADJ
fsr-3131	133	9	that	that	SCONJ
fsr-3131	133	10	two	two	NUM
fsr-3131	133	11	very	very	ADV
fsr-3131	133	12	different	different	ADJ
fsr-3131	133	13	scenarios	scenario	NOUN
fsr-3131	133	14	of	of	ADP
fsr-3131	133	15	equity	equity	NOUN
fsr-3131	133	16	returns	return	NOUN
fsr-3131	133	17	would	would	AUX
fsr-3131	133	18	be	be	AUX
fsr-3131	133	19	simulated	simulate	VERB
fsr-3131	133	20	.	.	PUNCT
fsr-3131	134	1	to	to	PART
fsr-3131	134	2	proceed	proceed	VERB
fsr-3131	134	3	with	with	ADP
fsr-3131	134	4	a	a	DET
fsr-3131	134	5	simulation	simulation	NOUN
fsr-3131	134	6	of	of	ADP
fsr-3131	134	7	a	a	DET
fsr-3131	134	8	portfolio	portfolio	NOUN
fsr-3131	134	9	of	of	ADP
fsr-3131	134	10	bonds	bond	NOUN
fsr-3131	134	11	,	,	PUNCT
fsr-3131	134	12	stocks	stock	NOUN
fsr-3131	134	13	,	,	PUNCT
fsr-3131	134	14	and	and	CCONJ
fsr-3131	134	15	inverse	inverse	NOUN
fsr-3131	134	16	or	or	CCONJ
fsr-3131	134	17	leveraged	leverage	VERB
fsr-3131	134	18	stock	stock	NOUN
fsr-3131	134	19	funds	fund	NOUN
fsr-3131	134	20	,	,	PUNCT
fsr-3131	134	21	two	two	NUM
fsr-3131	134	22	alternatives	alternative	NOUN
fsr-3131	134	23	were	be	AUX
fsr-3131	134	24	considered	consider	VERB
fsr-3131	134	25	and	and	CCONJ
fsr-3131	134	26	one	one	NUM
fsr-3131	134	27	selected	select	VERB
fsr-3131	134	28	to	to	PART
fsr-3131	134	29	simulate	simulate	VERB
fsr-3131	134	30	future	future	ADJ
fsr-3131	134	31	returns	return	NOUN
fsr-3131	134	32	.	.	PUNCT
fsr-3131	135	1	the	the	DET
fsr-3131	135	2	first	first	ADJ
fsr-3131	135	3	was	be	AUX
fsr-3131	135	4	to	to	PART
fsr-3131	135	5	take	take	VERB
fsr-3131	135	6	a	a	DET
fsr-3131	135	7	set	set	NOUN
fsr-3131	135	8	of	of	ADP
fsr-3131	135	9	historical	historical	ADJ
fsr-3131	135	10	returns	return	NOUN
fsr-3131	135	11	,	,	PUNCT
fsr-3131	135	12	fit	fit	VERB
fsr-3131	135	13	an	an	DET
fsr-3131	135	14	appropriate	appropriate	ADJ
fsr-3131	135	15	distribution	distribution	NOUN
fsr-3131	135	16	to	to	ADP
fsr-3131	135	17	it	it	PRON
fsr-3131	135	18	,	,	PUNCT
fsr-3131	135	19	and	and	CCONJ
fsr-3131	135	20	use	use	VERB
fsr-3131	135	21	this	this	DET
fsr-3131	135	22	distribution	distribution	NOUN
fsr-3131	135	23	to	to	PART
fsr-3131	135	24	generate	generate	VERB
fsr-3131	135	25	random	random	ADJ
fsr-3131	135	26	samples	sample	NOUN
fsr-3131	135	27	.	.	PUNCT
fsr-3131	136	1	this	this	DET
fsr-3131	136	2	article	article	NOUN
fsr-3131	136	3	chose	choose	VERB
fsr-3131	136	4	not	not	PART
fsr-3131	136	5	to	to	PART
fsr-3131	136	6	follow	follow	VERB
fsr-3131	136	7	this	this	DET
fsr-3131	136	8	method	method	NOUN
fsr-3131	136	9	,	,	PUNCT
fsr-3131	136	10	because	because	SCONJ
fsr-3131	136	11	of	of	ADP
fsr-3131	136	12	concern	concern	NOUN
fsr-3131	136	13	about	about	ADP
fsr-3131	136	14	the	the	DET
fsr-3131	136	15	behavior	behavior	NOUN
fsr-3131	136	16	at	at	ADP
fsr-3131	136	17	the	the	DET
fsr-3131	136	18	tails	tail	NOUN
fsr-3131	136	19	of	of	ADP
fsr-3131	136	20	the	the	DET
fsr-3131	136	21	distribution	distribution	NOUN
fsr-3131	136	22	not	not	PART
fsr-3131	136	23	accurately	accurately	ADV
fsr-3131	136	24	reflecting	reflect	VERB
fsr-3131	136	25	observed	observed	ADJ
fsr-3131	136	26	returns	return	NOUN
fsr-3131	136	27	.	.	PUNCT
fsr-3131	137	1	instead	instead	ADV
fsr-3131	137	2	,	,	PUNCT
fsr-3131	137	3	this	this	DET
fsr-3131	137	4	article	article	NOUN
fsr-3131	137	5	chose	choose	VERB
fsr-3131	137	6	an	an	DET
fsr-3131	137	7	alternate	alternate	ADJ
fsr-3131	137	8	approach	approach	NOUN
fsr-3131	137	9	that	that	PRON
fsr-3131	137	10	considered	consider	VERB
fsr-3131	137	11	a	a	DET
fsr-3131	137	12	20	20	NUM
fsr-3131	137	13	-	-	PUNCT
fsr-3131	137	14	day	day	NOUN
fsr-3131	137	15	consecutive	consecutive	ADJ
fsr-3131	137	16	return	return	NOUN
fsr-3131	137	17	that	that	PRON
fsr-3131	137	18	was	be	AUX
fsr-3131	137	19	available	available	ADJ
fsr-3131	137	20	from	from	ADP
fsr-3131	137	21	an	an	DET
fsr-3131	137	22	observed	observed	ADJ
fsr-3131	137	23	return	return	NOUN
fsr-3131	137	24	history	history	NOUN
fsr-3131	137	25	.	.	PUNCT
fsr-3131	138	1	this	this	DET
fsr-3131	138	2	method	method	NOUN
fsr-3131	138	3	is	be	AUX
fsr-3131	138	4	shown	show	VERB
fsr-3131	138	5	in	in	ADP
fsr-3131	138	6	the	the	DET
fsr-3131	138	7	appendix	appendix	NOUN
fsr-3131	138	8	.	.	PUNCT
fsr-3131	139	1	the	the	DET
fsr-3131	139	2	simulation	simulation	NOUN
fsr-3131	139	3	randomly	randomly	ADV
fsr-3131	139	4	samples	sample	VERB
fsr-3131	139	5	over	over	ADP
fsr-3131	139	6	2,500	2,500	NUM
fsr-3131	139	7	monthly	monthly	ADJ
fsr-3131	139	8	returns	return	NOUN
fsr-3131	139	9	derived	derive	VERB
fsr-3131	139	10	from	from	ADP
fsr-3131	139	11	actual	actual	ADJ
fsr-3131	139	12	history	history	NOUN
fsr-3131	139	13	to	to	PART
fsr-3131	139	14	create	create	VERB
fsr-3131	139	15	120	120	NUM
fsr-3131	139	16	months	month	NOUN
fsr-3131	139	17	of	of	ADP
fsr-3131	139	18	returns	return	NOUN
fsr-3131	139	19	.	.	PUNCT
fsr-3131	140	1	the	the	DET
fsr-3131	140	2	stock	stock	NOUN
fsr-3131	140	3	,	,	PUNCT
fsr-3131	140	4	bond	bond	NOUN
fsr-3131	140	5	and	and	CCONJ
fsr-3131	140	6	inverse	inverse	NOUN
fsr-3131	140	7	or	or	CCONJ
fsr-3131	140	8	leveraged	leverage	VERB
fsr-3131	140	9	monthly	monthly	ADJ
fsr-3131	140	10	returns	return	NOUN
fsr-3131	140	11	use	use	VERB
fsr-3131	140	12	the	the	DET
fsr-3131	140	13	same	same	ADJ
fsr-3131	140	14	random	random	ADJ
fsr-3131	140	15	number	number	NOUN
fsr-3131	140	16	to	to	PART
fsr-3131	140	17	preserve	preserve	VERB
fsr-3131	140	18	the	the	DET
fsr-3131	140	19	historical	historical	ADJ
fsr-3131	140	20	correlation	correlation	NOUN
fsr-3131	140	21	of	of	ADP
fsr-3131	140	22	returns	return	NOUN
fsr-3131	140	23	between	between	ADP
fsr-3131	140	24	each	each	PRON
fsr-3131	140	25	.	.	PUNCT
fsr-3131	141	1	the	the	DET
fsr-3131	141	2	same	same	ADJ
fsr-3131	141	3	random	random	ADJ
fsr-3131	141	4	sample	sample	NOUN
fsr-3131	141	5	was	be	AUX
fsr-3131	141	6	also	also	ADV
fsr-3131	141	7	used	use	VERB
fsr-3131	141	8	to	to	PART
fsr-3131	141	9	determine	determine	VERB
fsr-3131	141	10	the	the	DET
fsr-3131	141	11	representative	representative	ADJ
fsr-3131	141	12	monthly	monthly	ADJ
fsr-3131	141	13	risk	risk	NOUN
fsr-3131	141	14	-	-	PUNCT
fsr-3131	141	15	free	free	ADJ
fsr-3131	141	16	rate	rate	NOUN
fsr-3131	141	17	based	base	VERB
fsr-3131	141	18	on	on	ADP
fsr-3131	141	19	t	t	PROPN
fsr-3131	141	20	-	-	PUNCT
fsr-3131	141	21	bills,5	bills,5	NOUN
fsr-3131	141	22	which	which	PRON
fsr-3131	141	23	is	be	AUX
fsr-3131	141	24	used	use	VERB
fsr-3131	141	25	to	to	PART
fsr-3131	141	26	determine	determine	VERB
fsr-3131	141	27	excess	excess	ADJ
fsr-3131	141	28	returns	return	NOUN
fsr-3131	141	29	and	and	CCONJ
fsr-3131	141	30	compute	compute	VERB
fsr-3131	141	31	the	the	DET
fsr-3131	141	32	sharpe	sharpe	PROPN
fsr-3131	141	33	ratio	ratio	NOUN
fsr-3131	141	34	for	for	ADP
fsr-3131	141	35	each	each	DET
fsr-3131	141	36	trial	trial	NOUN
fsr-3131	141	37	,	,	PUNCT
fsr-3131	141	38	as	as	SCONJ
fsr-3131	141	39	described	describe	VERB
fsr-3131	141	40	in	in	ADP
fsr-3131	141	41	sharpe	sharpe	PROPN
fsr-3131	141	42	(	(	PUNCT
fsr-3131	141	43	1994	1994	NUM
fsr-3131	141	44	)	)	PUNCT
fsr-3131	141	45	.	.	PUNCT
fsr-3131	142	1	fig	fig	NOUN
fsr-3131	142	2	.	.	PUNCT
fsr-3131	143	1	1	1	X
fsr-3131	143	2	.	.	X
fsr-3131	143	3	cumulative	cumulative	ADJ
fsr-3131	143	4	return	return	NOUN
fsr-3131	143	5	of	of	ADP
fsr-3131	143	6	bonds	bond	NOUN
fsr-3131	143	7	,	,	PUNCT
fsr-3131	143	8	stock	stock	NOUN
fsr-3131	143	9	,	,	PUNCT
fsr-3131	143	10	inverse	inverse	NOUN
fsr-3131	143	11	,	,	PUNCT
fsr-3131	143	12	and	and	CCONJ
fsr-3131	143	13	leveraged	leveraged	ADJ
fsr-3131	143	14	stock	stock	NOUN
fsr-3131	143	15	funds	fund	NOUN
fsr-3131	143	16	from	from	ADP
fsr-3131	143	17	january	january	PROPN
fsr-3131	143	18	2001	2001	NUM
fsr-3131	143	19	through	through	ADP
fsr-3131	143	20	december	december	PROPN
fsr-3131	143	21	2010	2010	NUM
fsr-3131	143	22	.	.	PUNCT
fsr-3131	144	1	129j.a	129j.a	NUM
fsr-3131	144	2	.	.	PUNCT
fsr-3131	144	3	dilellio	dilellio	PROPN
fsr-3131	144	4	,	,	PUNCT
fsr-3131	144	5	r.	r.	PROPN
fsr-3131	144	6	hesse	hesse	PROPN
fsr-3131	144	7	,	,	PUNCT
fsr-3131	144	8	d.j	d.j	PROPN
fsr-3131	144	9	.	.	PROPN
fsr-3131	144	10	stanley	stanley	PROPN
fsr-3131	144	11	/	/	SYM
fsr-3131	144	12	financial	financial	ADJ
fsr-3131	144	13	services	service	NOUN
fsr-3131	144	14	review	review	VERB
fsr-3131	144	15	23	23	NUM
fsr-3131	144	16	(	(	PUNCT
fsr-3131	144	17	2014	2014	NUM
fsr-3131	144	18	)	)	PUNCT
fsr-3131	145	1	123–149	123–149	NUM
fsr-3131	145	2	we	we	PRON
fsr-3131	145	3	based	base	VERB
fsr-3131	145	4	our	our	PRON
fsr-3131	145	5	sampling	sample	VERB
fsr-3131	145	6	method	method	NOUN
fsr-3131	145	7	assuming	assume	VERB
fsr-3131	145	8	that	that	SCONJ
fsr-3131	145	9	the	the	DET
fsr-3131	145	10	stock	stock	NOUN
fsr-3131	145	11	market	market	NOUN
fsr-3131	145	12	follows	follow	VERB
fsr-3131	145	13	a	a	DET
fsr-3131	145	14	markov	markov	NOUN
fsr-3131	145	15	(	(	PUNCT
fsr-3131	145	16	e.g.	e.g.	ADV
fsr-3131	145	17	,	,	PUNCT
fsr-3131	145	18	memoryless	memoryless	NOUN
fsr-3131	145	19	)	)	PUNCT
fsr-3131	145	20	process	process	NOUN
fsr-3131	145	21	,	,	PUNCT
fsr-3131	145	22	and	and	CCONJ
fsr-3131	145	23	is	be	AUX
fsr-3131	145	24	also	also	ADV
fsr-3131	145	25	related	relate	VERB
fsr-3131	145	26	to	to	ADP
fsr-3131	145	27	our	our	PRON
fsr-3131	145	28	assertion	assertion	NOUN
fsr-3131	145	29	about	about	ADP
fsr-3131	145	30	efficient	efficient	ADJ
fsr-3131	145	31	markets	market	NOUN
fsr-3131	145	32	,	,	PUNCT
fsr-3131	145	33	that	that	PRON
fsr-3131	145	34	suggests	suggest	VERB
fsr-3131	145	35	successive	successive	ADJ
fsr-3131	145	36	price	price	NOUN
fsr-3131	145	37	changes	change	NOUN
fsr-3131	145	38	are	be	AUX
fsr-3131	145	39	independent	independent	ADJ
fsr-3131	145	40	(	(	PUNCT
fsr-3131	145	41	see	see	VERB
fsr-3131	145	42	fama	fama	NOUN
fsr-3131	145	43	,	,	PUNCT
fsr-3131	145	44	1965	1965	NUM
fsr-3131	145	45	)	)	PUNCT
fsr-3131	145	46	.	.	PUNCT
fsr-3131	146	1	our	our	PRON
fsr-3131	146	2	specific	specific	ADJ
fsr-3131	146	3	approach	approach	NOUN
fsr-3131	146	4	of	of	ADP
fsr-3131	146	5	sampling	sample	VERB
fsr-3131	146	6	from	from	ADP
fsr-3131	146	7	a	a	DET
fsr-3131	146	8	historical	historical	ADJ
fsr-3131	146	9	distribution	distribution	NOUN
fsr-3131	146	10	is	be	AUX
fsr-3131	146	11	often	often	ADV
fsr-3131	146	12	termed	term	VERB
fsr-3131	146	13	“	"	PUNCT
fsr-3131	146	14	bootstrapping	bootstrappe	VERB
fsr-3131	146	15	,	,	PUNCT
fsr-3131	146	16	”	"	PUNCT
fsr-3131	146	17	which	which	PRON
fsr-3131	146	18	was	be	AUX
fsr-3131	146	19	originally	originally	ADV
fsr-3131	146	20	called	call	VERB
fsr-3131	146	21	computer	computer	NOUN
fsr-3131	146	22	-	-	PUNCT
fsr-3131	146	23	intensive	intensive	ADJ
fsr-3131	146	24	methods	method	NOUN
fsr-3131	146	25	.	.	PUNCT
fsr-3131	147	1	two	two	NUM
fsr-3131	147	2	excellent	excellent	ADJ
fsr-3131	147	3	references	reference	NOUN
fsr-3131	147	4	for	for	ADP
fsr-3131	147	5	this	this	DET
fsr-3131	147	6	methodology	methodology	NOUN
fsr-3131	147	7	are	be	AUX
fsr-3131	147	8	davison	davison	PROPN
fsr-3131	147	9	and	and	CCONJ
fsr-3131	147	10	hinkley	hinkley	PROPN
fsr-3131	147	11	(	(	PUNCT
fsr-3131	147	12	1993	1993	NUM
fsr-3131	147	13	)	)	PUNCT
fsr-3131	147	14	and	and	CCONJ
fsr-3131	147	15	efron	efron	PROPN
fsr-3131	147	16	and	and	CCONJ
fsr-3131	147	17	tibshirani	tibshirani	PROPN
fsr-3131	147	18	(	(	PUNCT
fsr-3131	147	19	1993	1993	NUM
fsr-3131	147	20	)	)	PUNCT
fsr-3131	147	21	.	.	PUNCT
fsr-3131	148	1	the	the	DET
fsr-3131	148	2	rationale	rationale	NOUN
fsr-3131	148	3	for	for	ADP
fsr-3131	148	4	randomly	randomly	ADV
fsr-3131	148	5	sampling	sampling	NOUN
fsr-3131	148	6	supports	support	VERB
fsr-3131	148	7	the	the	DET
fsr-3131	148	8	assumption	assumption	NOUN
fsr-3131	148	9	that	that	SCONJ
fsr-3131	148	10	there	there	PRON
fsr-3131	148	11	are	be	VERB
fsr-3131	148	12	no	no	DET
fsr-3131	148	13	discernible	discernible	ADJ
fsr-3131	148	14	patterns	pattern	NOUN
fsr-3131	148	15	in	in	ADP
fsr-3131	148	16	the	the	DET
fsr-3131	148	17	returns	return	NOUN
fsr-3131	148	18	of	of	ADP
fsr-3131	148	19	stocks	stock	NOUN
fsr-3131	148	20	and	and	CCONJ
fsr-3131	148	21	bonds	bond	NOUN
fsr-3131	148	22	.	.	PUNCT
fsr-3131	149	1	furthermore	furthermore	ADV
fsr-3131	149	2	,	,	PUNCT
fsr-3131	149	3	the	the	DET
fsr-3131	149	4	efficient	efficient	ADJ
fsr-3131	149	5	market	market	NOUN
fsr-3131	149	6	hypothesis	hypothesis	NOUN
fsr-3131	149	7	(	(	PUNCT
fsr-3131	149	8	emh	emh	PROPN
fsr-3131	149	9	)	)	PUNCT
fsr-3131	149	10	states	state	VERB
fsr-3131	149	11	that	that	SCONJ
fsr-3131	149	12	there	there	PRON
fsr-3131	149	13	are	be	VERB
fsr-3131	149	14	no	no	DET
fsr-3131	149	15	discernible	discernible	ADJ
fsr-3131	149	16	patterns	pattern	NOUN
fsr-3131	149	17	for	for	ADP
fsr-3131	149	18	returns	return	NOUN
fsr-3131	149	19	for	for	ADP
fsr-3131	149	20	stocks	stock	NOUN
fsr-3131	149	21	and	and	CCONJ
fsr-3131	149	22	bonds	bond	NOUN
fsr-3131	149	23	,	,	PUNCT
fsr-3131	149	24	so	so	ADV
fsr-3131	149	25	consequently	consequently	ADV
fsr-3131	149	26	,	,	PUNCT
fsr-3131	149	27	the	the	DET
fsr-3131	149	28	markets	market	NOUN
fsr-3131	149	29	are	be	AUX
fsr-3131	149	30	efficient	efficient	ADJ
fsr-3131	149	31	at	at	ADP
fsr-3131	149	32	all	all	DET
fsr-3131	149	33	times	time	NOUN
fsr-3131	149	34	.	.	PUNCT
fsr-3131	150	1	many	many	ADJ
fsr-3131	150	2	will	will	AUX
fsr-3131	150	3	disagree	disagree	VERB
fsr-3131	150	4	with	with	ADP
fsr-3131	150	5	that	that	DET
fsr-3131	150	6	statement	statement	NOUN
fsr-3131	150	7	.	.	PUNCT
fsr-3131	151	1	it	it	PRON
fsr-3131	151	2	is	be	AUX
fsr-3131	151	3	not	not	PART
fsr-3131	151	4	novel	novel	ADJ
fsr-3131	151	5	,	,	PUNCT
fsr-3131	151	6	and	and	CCONJ
fsr-3131	151	7	it	it	PRON
fsr-3131	151	8	has	have	AUX
fsr-3131	151	9	been	be	AUX
fsr-3131	151	10	a	a	DET
fsr-3131	151	11	contentious	contentious	ADJ
fsr-3131	151	12	subject	subject	NOUN
fsr-3131	151	13	for	for	ADP
fsr-3131	151	14	decades	decade	NOUN
fsr-3131	151	15	.	.	PUNCT
fsr-3131	152	1	there	there	PRON
fsr-3131	152	2	are	be	VERB
fsr-3131	152	3	a	a	DET
fsr-3131	152	4	few	few	ADJ
fsr-3131	152	5	strong	strong	ADJ
fsr-3131	152	6	believers	believer	NOUN
fsr-3131	152	7	on	on	ADP
fsr-3131	152	8	both	both	DET
fsr-3131	152	9	sides	side	NOUN
fsr-3131	152	10	with	with	ADP
fsr-3131	152	11	the	the	DET
fsr-3131	152	12	vast	vast	ADJ
fsr-3131	152	13	majority	majority	NOUN
fsr-3131	152	14	falling	fall	VERB
fsr-3131	152	15	somewhere	somewhere	ADV
fsr-3131	152	16	in	in	ADP
fsr-3131	152	17	between	between	ADP
fsr-3131	152	18	.	.	PUNCT
fsr-3131	153	1	however	however	ADV
fsr-3131	153	2	,	,	PUNCT
fsr-3131	153	3	the	the	DET
fsr-3131	153	4	fact	fact	NOUN
fsr-3131	153	5	remains	remain	VERB
fsr-3131	153	6	that	that	SCONJ
fsr-3131	153	7	passive	passive	ADJ
fsr-3131	153	8	index	index	NOUN
fsr-3131	153	9	investors	investor	NOUN
fsr-3131	153	10	have	have	VERB
fsr-3131	153	11	the	the	DET
fsr-3131	153	12	better	well	ADJ
fsr-3131	153	13	argument	argument	NOUN
fsr-3131	153	14	.	.	PUNCT
fsr-3131	154	1	it	it	PRON
fsr-3131	154	2	can	can	AUX
fsr-3131	154	3	be	be	AUX
fsr-3131	154	4	noted	note	VERB
fsr-3131	154	5	that	that	SCONJ
fsr-3131	154	6	a	a	DET
fsr-3131	154	7	large	large	ADJ
fsr-3131	154	8	percentage	percentage	NOUN
fsr-3131	154	9	of	of	ADP
fsr-3131	154	10	managers	manager	NOUN
fsr-3131	154	11	failed	fail	VERB
fsr-3131	154	12	to	to	PART
fsr-3131	154	13	outperform	outperform	VERB
fsr-3131	154	14	their	their	PRON
fsr-3131	154	15	benchmarks	benchmark	NOUN
fsr-3131	154	16	over	over	ADP
fsr-3131	154	17	a	a	DET
fsr-3131	154	18	longer	long	ADJ
fsr-3131	154	19	-	-	PUNCT
fsr-3131	154	20	time	time	NOUN
fsr-3131	154	21	horizon	horizon	NOUN
fsr-3131	154	22	.	.	PUNCT
fsr-3131	155	1	jones	jones	PROPN
fsr-3131	155	2	and	and	CCONJ
fsr-3131	155	3	wermers	wermer	NOUN
fsr-3131	155	4	(	(	PUNCT
fsr-3131	155	5	2011	2011	NUM
fsr-3131	155	6	)	)	PUNCT
fsr-3131	155	7	noted	note	VERB
fsr-3131	155	8	that	that	SCONJ
fsr-3131	155	9	active	active	ADJ
fsr-3131	155	10	returns	return	NOUN
fsr-3131	155	11	(	(	PUNCT
fsr-3131	155	12	adjusted	adjust	VERB
fsr-3131	155	13	for	for	ADP
fsr-3131	155	14	risk	risk	NOUN
fsr-3131	155	15	)	)	PUNCT
fsr-3131	155	16	across	across	ADP
fsr-3131	155	17	managers	manager	NOUN
fsr-3131	155	18	and	and	CCONJ
fsr-3131	155	19	time	time	NOUN
fsr-3131	155	20	probably	probably	ADV
fsr-3131	155	21	average	average	VERB
fsr-3131	155	22	close	close	ADV
fsr-3131	155	23	to	to	ADP
fsr-3131	155	24	zero	zero	NUM
fsr-3131	155	25	,	,	PUNCT
fsr-3131	155	26	net	net	NOUN
fsr-3131	155	27	of	of	ADP
fsr-3131	155	28	fees	fee	NOUN
fsr-3131	155	29	and	and	CCONJ
fsr-3131	155	30	other	other	ADJ
fsr-3131	155	31	expenses	expense	NOUN
fsr-3131	155	32	,	,	PUNCT
fsr-3131	155	33	above	above	ADP
fsr-3131	155	34	their	their	PRON
fsr-3131	155	35	benchmark	benchmark	NOUN
fsr-3131	155	36	.	.	PUNCT
fsr-3131	156	1	their	their	PRON
fsr-3131	156	2	conclusion	conclusion	NOUN
fsr-3131	156	3	confirmed	confirm	VERB
fsr-3131	156	4	what	what	PRON
fsr-3131	156	5	should	should	AUX
fsr-3131	156	6	be	be	AUX
fsr-3131	156	7	expected	expect	VERB
fsr-3131	156	8	in	in	ADP
fsr-3131	156	9	a	a	DET
fsr-3131	156	10	mostly	mostly	ADV
fsr-3131	156	11	efficient	efficient	ADJ
fsr-3131	156	12	market	market	NOUN
fsr-3131	156	13	.	.	PUNCT
fsr-3131	157	1	in	in	ADP
fsr-3131	157	2	such	such	DET
fsr-3131	157	3	a	a	DET
fsr-3131	157	4	market	market	NOUN
fsr-3131	157	5	,	,	PUNCT
fsr-3131	157	6	one	one	PRON
fsr-3131	157	7	should	should	AUX
fsr-3131	157	8	expect	expect	VERB
fsr-3131	157	9	fierce	fierce	ADJ
fsr-3131	157	10	competition	competition	NOUN
fsr-3131	157	11	among	among	ADP
fsr-3131	157	12	active	active	ADJ
fsr-3131	157	13	managers	manager	NOUN
fsr-3131	157	14	which	which	PRON
fsr-3131	157	15	drives	drive	VERB
fsr-3131	157	16	average	average	ADJ
fsr-3131	157	17	(	(	PUNCT
fsr-3131	157	18	net	net	ADJ
fsr-3131	157	19	)	)	PUNCT
fsr-3131	157	20	active	active	ADJ
fsr-3131	157	21	risk	risk	NOUN
fsr-3131	157	22	-	-	PUNCT
fsr-3131	157	23	adjusted	adjust	VERB
fsr-3131	157	24	returns	return	NOUN
fsr-3131	157	25	towards	towards	ADP
fsr-3131	157	26	zero	zero	NUM
fsr-3131	157	27	.	.	PUNCT
fsr-3131	158	1	they	they	PRON
fsr-3131	158	2	further	further	VERB
fsr-3131	158	3	state	state	VERB
fsr-3131	158	4	that	that	SCONJ
fsr-3131	158	5	there	there	PRON
fsr-3131	158	6	exists	exist	VERB
fsr-3131	158	7	so	so	ADV
fsr-3131	158	8	-	-	PUNCT
fsr-3131	158	9	called	call	VERB
fsr-3131	158	10	superior	superior	ADJ
fsr-3131	158	11	active	active	ADJ
fsr-3131	158	12	mangers	manger	NOUN
fsr-3131	158	13	(	(	PUNCT
fsr-3131	158	14	sams	sams	PROPN
fsr-3131	158	15	)	)	PUNCT
fsr-3131	158	16	who	who	PRON
fsr-3131	158	17	should	should	AUX
fsr-3131	158	18	be	be	AUX
fsr-3131	158	19	able	able	ADJ
fsr-3131	158	20	to	to	PART
fsr-3131	158	21	develop	develop	VERB
fsr-3131	158	22	better	well	ADJ
fsr-3131	158	23	sharpe	sharpe	NOUN
fsr-3131	158	24	ratios	ratio	NOUN
fsr-3131	158	25	.	.	PUNCT
fsr-3131	159	1	thus	thus	ADV
fsr-3131	159	2	,	,	PUNCT
fsr-3131	159	3	investors	investor	NOUN
fsr-3131	159	4	could	could	AUX
fsr-3131	159	5	be	be	AUX
fsr-3131	159	6	rewarded	reward	VERB
fsr-3131	159	7	by	by	ADP
fsr-3131	159	8	exposure	exposure	NOUN
fsr-3131	159	9	to	to	ADP
fsr-3131	159	10	such	such	ADJ
fsr-3131	159	11	active	active	ADJ
fsr-3131	159	12	strategies	strategy	NOUN
fsr-3131	159	13	by	by	ADP
fsr-3131	159	14	sams	sams	PROPN
fsr-3131	159	15	.	.	PUNCT
fsr-3131	160	1	a	a	DET
fsr-3131	160	2	similar	similar	ADJ
fsr-3131	160	3	trend	trend	NOUN
fsr-3131	160	4	has	have	AUX
fsr-3131	160	5	been	be	AUX
fsr-3131	160	6	observed	observe	VERB
fsr-3131	160	7	with	with	ADP
fsr-3131	160	8	enhanced	enhanced	ADJ
fsr-3131	160	9	index	index	NOUN
fsr-3131	160	10	funds	fund	NOUN
fsr-3131	160	11	(	(	PUNCT
fsr-3131	160	12	eifs	eifs	PROPN
fsr-3131	160	13	)	)	PUNCT
fsr-3131	160	14	,	,	PUNCT
fsr-3131	160	15	as	as	SCONJ
fsr-3131	160	16	shown	show	VERB
fsr-3131	160	17	by	by	ADP
fsr-3131	160	18	chang	chang	PROPN
fsr-3131	160	19	and	and	CCONJ
fsr-3131	160	20	krueger	krueger	PROPN
fsr-3131	160	21	fig	fig	PROPN
fsr-3131	160	22	.	.	PUNCT
fsr-3131	161	1	2	2	X
fsr-3131	161	2	.	.	X
fsr-3131	161	3	cumulative	cumulative	ADJ
fsr-3131	161	4	return	return	NOUN
fsr-3131	161	5	of	of	ADP
fsr-3131	161	6	bonds	bond	NOUN
fsr-3131	161	7	,	,	PUNCT
fsr-3131	161	8	stock	stock	NOUN
fsr-3131	161	9	,	,	PUNCT
fsr-3131	161	10	inverse	inverse	NOUN
fsr-3131	161	11	and	and	CCONJ
fsr-3131	161	12	leveraged	leverage	VERB
fsr-3131	161	13	stock	stock	NOUN
fsr-3131	161	14	funds	fund	NOUN
fsr-3131	161	15	from	from	ADP
fsr-3131	161	16	january	january	PROPN
fsr-3131	161	17	1991	1991	NUM
fsr-3131	161	18	through	through	ADP
fsr-3131	161	19	december	december	PROPN
fsr-3131	161	20	2000	2000	NUM
fsr-3131	161	21	.	.	PUNCT
fsr-3131	162	1	130	130	NUM
fsr-3131	162	2	j.a	j.a	PROPN
fsr-3131	162	3	.	.	PROPN
fsr-3131	162	4	dilellio	dilellio	PROPN
fsr-3131	162	5	,	,	PUNCT
fsr-3131	162	6	r.	r.	PROPN
fsr-3131	162	7	hesse	hesse	PROPN
fsr-3131	162	8	,	,	PUNCT
fsr-3131	162	9	d.j	d.j	PROPN
fsr-3131	162	10	.	.	PROPN
fsr-3131	162	11	stanley	stanley	PROPN
fsr-3131	162	12	/	/	SYM
fsr-3131	162	13	financial	financial	ADJ
fsr-3131	162	14	services	service	NOUN
fsr-3131	162	15	review	review	VERB
fsr-3131	162	16	23	23	NUM
fsr-3131	162	17	(	(	PUNCT
fsr-3131	162	18	2014	2014	NUM
fsr-3131	162	19	)	)	PUNCT
fsr-3131	162	20	123–149	123–149	NUM
fsr-3131	162	21	(	(	PUNCT
fsr-3131	162	22	2010	2010	NUM
fsr-3131	162	23	)	)	PUNCT
fsr-3131	162	24	.	.	PUNCT
fsr-3131	163	1	therefore	therefore	ADV
fsr-3131	163	2	,	,	PUNCT
fsr-3131	163	3	the	the	DET
fsr-3131	163	4	controversy	controversy	NOUN
fsr-3131	163	5	will	will	AUX
fsr-3131	163	6	likely	likely	ADV
fsr-3131	163	7	continue	continue	VERB
fsr-3131	163	8	,	,	PUNCT
fsr-3131	163	9	but	but	CCONJ
fsr-3131	163	10	the	the	DET
fsr-3131	163	11	odds	odd	NOUN
fsr-3131	163	12	today	today	NOUN
fsr-3131	163	13	still	still	ADV
fsr-3131	163	14	favor	favor	VERB
fsr-3131	163	15	the	the	DET
fsr-3131	163	16	efficient	efficient	ADJ
fsr-3131	163	17	market	market	NOUN
fsr-3131	163	18	hypothesis	hypothesis	NOUN
fsr-3131	163	19	.	.	PUNCT
fsr-3131	164	1	5	5	X
fsr-3131	164	2	.	.	X
fsr-3131	164	3	return	return	NOUN
fsr-3131	164	4	distributions	distribution	NOUN
fsr-3131	164	5	of	of	ADP
fsr-3131	164	6	terminal	terminal	ADJ
fsr-3131	164	7	wealth	wealth	NOUN
fsr-3131	164	8	the	the	DET
fsr-3131	164	9	distributions	distribution	NOUN
fsr-3131	164	10	of	of	ADP
fsr-3131	164	11	terminal	terminal	ADJ
fsr-3131	164	12	wealth	wealth	NOUN
fsr-3131	164	13	for	for	ADP
fsr-3131	164	14	the	the	DET
fsr-3131	164	15	three	three	NUM
fsr-3131	164	16	investors	investor	NOUN
fsr-3131	164	17	classified	classify	VERB
fsr-3131	164	18	previously	previously	ADV
fsr-3131	164	19	are	be	AUX
fsr-3131	164	20	shown	show	VERB
fsr-3131	164	21	below	below	ADP
fsr-3131	164	22	in	in	ADP
fsr-3131	164	23	figs	fig	NOUN
fsr-3131	164	24	.	.	PUNCT
fsr-3131	165	1	3	3	NUM
fsr-3131	165	2	and	and	CCONJ
fsr-3131	165	3	4	4	NUM
fsr-3131	165	4	,	,	PUNCT
fsr-3131	165	5	corresponding	correspond	VERB
fsr-3131	165	6	to	to	ADP
fsr-3131	165	7	drawing	draw	VERB
fsr-3131	165	8	samples	sample	NOUN
fsr-3131	165	9	from	from	ADP
fsr-3131	165	10	the	the	DET
fsr-3131	165	11	2001–2010	2001–2010	NUM
fsr-3131	165	12	and	and	CCONJ
fsr-3131	165	13	1991–2000	1991–2000	NUM
fsr-3131	165	14	returns	return	NOUN
fsr-3131	165	15	,	,	PUNCT
fsr-3131	165	16	respectively	respectively	ADV
fsr-3131	165	17	.	.	PUNCT
fsr-3131	166	1	within	within	ADP
fsr-3131	166	2	each	each	DET
fsr-3131	166	3	figure	figure	NOUN
fsr-3131	166	4	,	,	PUNCT
fsr-3131	166	5	two	two	NUM
fsr-3131	166	6	distributions	distribution	NOUN
fsr-3131	166	7	for	for	ADP
fsr-3131	166	8	each	each	DET
fsr-3131	166	9	investor	investor	NOUN
fsr-3131	166	10	are	be	AUX
fsr-3131	166	11	shown	show	VERB
fsr-3131	166	12	,	,	PUNCT
fsr-3131	166	13	corresponding	correspond	VERB
fsr-3131	166	14	to	to	ADP
fsr-3131	166	15	the	the	DET
fsr-3131	166	16	investor	investor	NOUN
fsr-3131	166	17	with	with	ADP
fsr-3131	166	18	and	and	CCONJ
fsr-3131	166	19	without	without	ADP
fsr-3131	166	20	a	a	DET
fsr-3131	166	21	10	10	NUM
fsr-3131	166	22	%	%	NOUN
fsr-3131	166	23	exposure	exposure	NOUN
fsr-3131	166	24	to	to	ADP
fsr-3131	166	25	the	the	DET
fsr-3131	166	26	inverse	inverse	NOUN
fsr-3131	166	27	stock	stock	NOUN
fsr-3131	166	28	fund	fund	PROPN
fsr-3131	166	29	.	.	PUNCT
fsr-3131	167	1	the	the	DET
fsr-3131	167	2	distributions	distribution	NOUN
fsr-3131	167	3	are	be	AUX
fsr-3131	167	4	represented	represent	VERB
fsr-3131	167	5	by	by	ADP
fsr-3131	167	6	boxplots	boxplot	NOUN
fsr-3131	167	7	that	that	PRON
fsr-3131	167	8	indicate	indicate	VERB
fsr-3131	167	9	first	first	ADJ
fsr-3131	167	10	percentile	percentile	ADJ
fsr-3131	167	11	(	(	PUNCT
fsr-3131	167	12	p01	p01	PROPN
fsr-3131	167	13	)	)	PUNCT
fsr-3131	167	14	,	,	PUNCT
fsr-3131	167	15	25th	25th	NOUN
fsr-3131	167	16	percentile	percentile	ADJ
fsr-3131	167	17	(	(	PUNCT
fsr-3131	167	18	q1	q1	PROPN
fsr-3131	167	19	)	)	PUNCT
fsr-3131	167	20	,	,	PUNCT
fsr-3131	167	21	50th	50th	ADJ
fsr-3131	167	22	percentile	percentile	NOUN
fsr-3131	167	23	(	(	PUNCT
fsr-3131	167	24	median	median	NOUN
fsr-3131	167	25	)	)	PUNCT
fsr-3131	167	26	,	,	PUNCT
fsr-3131	167	27	75th	75th	ADJ
fsr-3131	167	28	percentile	percentile	ADJ
fsr-3131	167	29	(	(	PUNCT
fsr-3131	167	30	q3	q3	PROPN
fsr-3131	167	31	)	)	PUNCT
fsr-3131	167	32	,	,	PUNCT
fsr-3131	167	33	and	and	CCONJ
fsr-3131	167	34	99th	99th	ADJ
fsr-3131	167	35	percentile	percentile	NOUN
fsr-3131	167	36	(	(	PUNCT
fsr-3131	167	37	p99	p99	PROPN
fsr-3131	167	38	)	)	PUNCT
fsr-3131	167	39	values	value	NOUN
fsr-3131	167	40	obtained	obtain	VERB
fsr-3131	167	41	for	for	ADP
fsr-3131	167	42	terminal	terminal	ADJ
fsr-3131	167	43	wealth	wealth	NOUN
fsr-3131	167	44	,	,	PUNCT
fsr-3131	167	45	assuming	assume	VERB
fsr-3131	167	46	an	an	DET
fsr-3131	167	47	initial	initial	ADJ
fsr-3131	167	48	wealth	wealth	NOUN
fsr-3131	167	49	of	of	ADP
fsr-3131	167	50	$	$	SYM
fsr-3131	167	51	1,000	1,000	NUM
fsr-3131	167	52	.	.	PUNCT
fsr-3131	168	1	referring	refer	VERB
fsr-3131	168	2	to	to	ADP
fsr-3131	168	3	the	the	DET
fsr-3131	168	4	results	result	NOUN
fsr-3131	168	5	in	in	ADP
fsr-3131	168	6	figs	fig	NOUN
fsr-3131	168	7	.	.	PUNCT
fsr-3131	169	1	3	3	NUM
fsr-3131	169	2	and	and	CCONJ
fsr-3131	169	3	4	4	NUM
fsr-3131	169	4	,	,	PUNCT
fsr-3131	169	5	it	it	PRON
fsr-3131	169	6	appears	appear	VERB
fsr-3131	169	7	that	that	SCONJ
fsr-3131	169	8	for	for	ADP
fsr-3131	169	9	all	all	DET
fsr-3131	169	10	investors	investor	NOUN
fsr-3131	169	11	,	,	PUNCT
fsr-3131	169	12	the	the	DET
fsr-3131	169	13	distribution	distribution	NOUN
fsr-3131	169	14	of	of	ADP
fsr-3131	169	15	terminal	terminal	ADJ
fsr-3131	169	16	wealth	wealth	NOUN
fsr-3131	169	17	becomes	become	VERB
fsr-3131	169	18	more	more	ADV
fsr-3131	169	19	positively	positively	ADV
fsr-3131	169	20	skewed	skew	VERB
fsr-3131	169	21	with	with	ADP
fsr-3131	169	22	the	the	DET
fsr-3131	169	23	addition	addition	NOUN
fsr-3131	169	24	of	of	ADP
fsr-3131	169	25	the	the	DET
fsr-3131	169	26	inverse	inverse	NOUN
fsr-3131	169	27	stock	stock	NOUN
fsr-3131	169	28	fund	fund	NOUN
fsr-3131	169	29	.	.	PUNCT
fsr-3131	170	1	the	the	DET
fsr-3131	170	2	dispersions	dispersion	NOUN
fsr-3131	170	3	of	of	ADP
fsr-3131	170	4	the	the	DET
fsr-3131	170	5	distributions	distribution	NOUN
fsr-3131	170	6	also	also	ADV
fsr-3131	170	7	appear	appear	VERB
fsr-3131	170	8	to	to	PART
fsr-3131	170	9	decrease	decrease	VERB
fsr-3131	170	10	with	with	ADP
fsr-3131	170	11	the	the	DET
fsr-3131	170	12	addition	addition	NOUN
fsr-3131	170	13	of	of	ADP
fsr-3131	170	14	the	the	DET
fsr-3131	170	15	fig	fig	NOUN
fsr-3131	170	16	.	.	PUNCT
fsr-3131	171	1	3	3	X
fsr-3131	171	2	.	.	X
fsr-3131	171	3	terminal	terminal	ADJ
fsr-3131	171	4	wealth	wealth	NOUN
fsr-3131	171	5	distributions	distribution	NOUN
fsr-3131	171	6	for	for	ADP
fsr-3131	171	7	investors	investor	NOUN
fsr-3131	171	8	using	use	VERB
fsr-3131	171	9	2001–2010	2001–2010	NUM
fsr-3131	171	10	return	return	NOUN
fsr-3131	171	11	distributions	distribution	NOUN
fsr-3131	171	12	.	.	PUNCT
fsr-3131	172	1	distribution	distribution	NOUN
fsr-3131	172	2	assumes	assume	VERB
fsr-3131	172	3	$	$	SYM
fsr-3131	172	4	1,000	1,000	NUM
fsr-3131	172	5	initial	initial	ADJ
fsr-3131	172	6	wealth	wealth	NOUN
fsr-3131	172	7	,	,	PUNCT
fsr-3131	172	8	rebalancing	rebalancing	NOUN
fsr-3131	172	9	each	each	DET
fsr-3131	172	10	year	year	NOUN
fsr-3131	172	11	,	,	PUNCT
fsr-3131	172	12	and	and	CCONJ
fsr-3131	172	13	a	a	DET
fsr-3131	172	14	1	1	NUM
fsr-3131	172	15	%	%	NOUN
fsr-3131	172	16	annual	annual	ADJ
fsr-3131	172	17	fee	fee	NOUN
fsr-3131	172	18	incurred	incur	VERB
fsr-3131	172	19	by	by	ADP
fsr-3131	172	20	the	the	DET
fsr-3131	172	21	inverse	inverse	NOUN
fsr-3131	172	22	stock	stock	NOUN
fsr-3131	172	23	fund	fund	PROPN
fsr-3131	172	24	.	.	PUNCT
fsr-3131	173	1	fig	fig	NOUN
fsr-3131	173	2	.	.	PUNCT
fsr-3131	174	1	4	4	X
fsr-3131	174	2	.	.	X
fsr-3131	174	3	terminal	terminal	ADJ
fsr-3131	174	4	wealth	wealth	NOUN
fsr-3131	174	5	distributions	distribution	NOUN
fsr-3131	174	6	for	for	ADP
fsr-3131	174	7	investors	investor	NOUN
fsr-3131	174	8	using	use	VERB
fsr-3131	174	9	1991–2000	1991–2000	NUM
fsr-3131	174	10	return	return	NOUN
fsr-3131	174	11	distributions	distribution	NOUN
fsr-3131	174	12	.	.	PUNCT
fsr-3131	175	1	distribution	distribution	NOUN
fsr-3131	175	2	assumes	assume	VERB
fsr-3131	175	3	$	$	SYM
fsr-3131	175	4	1,000	1,000	NUM
fsr-3131	175	5	initial	initial	ADJ
fsr-3131	175	6	wealth	wealth	NOUN
fsr-3131	175	7	,	,	PUNCT
fsr-3131	175	8	rebalancing	rebalancing	NOUN
fsr-3131	175	9	each	each	DET
fsr-3131	175	10	year	year	NOUN
fsr-3131	175	11	,	,	PUNCT
fsr-3131	175	12	and	and	CCONJ
fsr-3131	175	13	a	a	DET
fsr-3131	175	14	1	1	NUM
fsr-3131	175	15	%	%	NOUN
fsr-3131	175	16	annual	annual	ADJ
fsr-3131	175	17	fee	fee	NOUN
fsr-3131	175	18	for	for	ADP
fsr-3131	175	19	the	the	DET
fsr-3131	175	20	inverse	inverse	NOUN
fsr-3131	175	21	stock	stock	NOUN
fsr-3131	175	22	fund	fund	NOUN
fsr-3131	175	23	.	.	PUNCT
fsr-3131	176	1	131j.a	131j.a	NUM
fsr-3131	176	2	.	.	PUNCT
fsr-3131	176	3	dilellio	dilellio	PROPN
fsr-3131	176	4	,	,	PUNCT
fsr-3131	176	5	r.	r.	PROPN
fsr-3131	176	6	hesse	hesse	PROPN
fsr-3131	176	7	,	,	PUNCT
fsr-3131	176	8	d.j	d.j	PROPN
fsr-3131	176	9	.	.	PROPN
fsr-3131	176	10	stanley	stanley	PROPN
fsr-3131	176	11	/	/	SYM
fsr-3131	176	12	financial	financial	ADJ
fsr-3131	176	13	services	service	NOUN
fsr-3131	176	14	review	review	VERB
fsr-3131	176	15	23	23	NUM
fsr-3131	176	16	(	(	PUNCT
fsr-3131	176	17	2014	2014	NUM
fsr-3131	176	18	)	)	PUNCT
fsr-3131	176	19	123–149	123–149	NUM
fsr-3131	176	20	inverse	inverse	NOUN
fsr-3131	176	21	stock	stock	NOUN
fsr-3131	176	22	fund	fund	NOUN
fsr-3131	176	23	.	.	PUNCT
fsr-3131	177	1	these	these	DET
fsr-3131	177	2	two	two	NUM
fsr-3131	177	3	observations	observation	NOUN
fsr-3131	177	4	translate	translate	VERB
fsr-3131	177	5	to	to	ADP
fsr-3131	177	6	what	what	PRON
fsr-3131	177	7	is	be	AUX
fsr-3131	177	8	expected	expect	VERB
fsr-3131	177	9	from	from	ADP
fsr-3131	177	10	knowledge	knowledge	NOUN
fsr-3131	177	11	of	of	ADP
fsr-3131	177	12	how	how	SCONJ
fsr-3131	177	13	the	the	DET
fsr-3131	177	14	inverse	inverse	NOUN
fsr-3131	177	15	stock	stock	NOUN
fsr-3131	177	16	fund	fund	NOUN
fsr-3131	177	17	behaves	behave	VERB
fsr-3131	177	18	as	as	ADP
fsr-3131	177	19	a	a	DET
fsr-3131	177	20	hedge	hedge	NOUN
fsr-3131	177	21	against	against	ADP
fsr-3131	177	22	the	the	DET
fsr-3131	177	23	stock	stock	NOUN
fsr-3131	177	24	fund	fund	NOUN
fsr-3131	177	25	.	.	PUNCT
fsr-3131	178	1	thus	thus	ADV
fsr-3131	178	2	,	,	PUNCT
fsr-3131	178	3	the	the	DET
fsr-3131	178	4	average	average	ADJ
fsr-3131	178	5	return	return	NOUN
fsr-3131	178	6	is	be	AUX
fsr-3131	178	7	decreased	decrease	VERB
fsr-3131	178	8	and	and	CCONJ
fsr-3131	178	9	the	the	DET
fsr-3131	178	10	variance	variance	NOUN
fsr-3131	178	11	of	of	ADP
fsr-3131	178	12	the	the	DET
fsr-3131	178	13	return	return	NOUN
fsr-3131	178	14	is	be	AUX
fsr-3131	178	15	also	also	ADV
fsr-3131	178	16	decreased	decrease	VERB
fsr-3131	178	17	.	.	PUNCT
fsr-3131	179	1	the	the	DET
fsr-3131	179	2	results	result	NOUN
fsr-3131	179	3	from	from	ADP
fsr-3131	179	4	figs	fig	NOUN
fsr-3131	179	5	.	.	PUNCT
fsr-3131	179	6	3	3	NUM
fsr-3131	179	7	and	and	CCONJ
fsr-3131	179	8	4	4	NUM
fsr-3131	179	9	are	be	AUX
fsr-3131	179	10	also	also	ADV
fsr-3131	179	11	encouraging	encouraging	ADJ
fsr-3131	179	12	because	because	SCONJ
fsr-3131	179	13	they	they	PRON
fsr-3131	179	14	show	show	VERB
fsr-3131	179	15	that	that	SCONJ
fsr-3131	179	16	the	the	DET
fsr-3131	179	17	inclusion	inclusion	NOUN
fsr-3131	179	18	of	of	ADP
fsr-3131	179	19	the	the	DET
fsr-3131	179	20	inverse	inverse	NOUN
fsr-3131	179	21	stock	stock	NOUN
fsr-3131	179	22	fund	fund	NOUN
fsr-3131	179	23	appears	appear	VERB
fsr-3131	179	24	to	to	PART
fsr-3131	179	25	be	be	AUX
fsr-3131	179	26	simultaneously	simultaneously	ADV
fsr-3131	179	27	reducing	reduce	VERB
fsr-3131	179	28	volatility	volatility	NOUN
fsr-3131	179	29	and	and	CCONJ
fsr-3131	179	30	return	return	NOUN
fsr-3131	179	31	.	.	PUNCT
fsr-3131	180	1	in	in	ADP
fsr-3131	180	2	contrast	contrast	NOUN
fsr-3131	180	3	,	,	PUNCT
fsr-3131	180	4	figs	fig	NOUN
fsr-3131	180	5	.	.	X
fsr-3131	181	1	5	5	NUM
fsr-3131	181	2	and	and	CCONJ
fsr-3131	181	3	6	6	NUM
fsr-3131	181	4	show	show	VERB
fsr-3131	181	5	the	the	DET
fsr-3131	181	6	distributions	distribution	NOUN
fsr-3131	181	7	of	of	ADP
fsr-3131	181	8	terminal	terminal	ADJ
fsr-3131	181	9	wealth	wealth	NOUN
fsr-3131	181	10	when	when	SCONJ
fsr-3131	181	11	an	an	DET
fsr-3131	181	12	investor	investor	NOUN
fsr-3131	181	13	includes	include	VERB
fsr-3131	181	14	the	the	DET
fsr-3131	181	15	leveraged	leverage	VERB
fsr-3131	181	16	stock	stock	NOUN
fsr-3131	181	17	fund	fund	NOUN
fsr-3131	181	18	as	as	ADP
fsr-3131	181	19	part	part	NOUN
fsr-3131	181	20	of	of	ADP
fsr-3131	181	21	their	their	PRON
fsr-3131	181	22	asset	asset	NOUN
fsr-3131	181	23	allocation	allocation	NOUN
fsr-3131	181	24	.	.	PUNCT
fsr-3131	182	1	unlike	unlike	ADP
fsr-3131	182	2	what	what	PRON
fsr-3131	182	3	was	be	AUX
fsr-3131	182	4	seen	see	VERB
fsr-3131	182	5	in	in	ADP
fsr-3131	182	6	figs	fig	NOUN
fsr-3131	182	7	.	.	PUNCT
fsr-3131	182	8	3	3	NUM
fsr-3131	182	9	and	and	CCONJ
fsr-3131	182	10	4	4	NUM
fsr-3131	182	11	,	,	PUNCT
fsr-3131	182	12	figs	fig	NOUN
fsr-3131	182	13	.	.	X
fsr-3131	182	14	5	5	NUM
fsr-3131	182	15	and	and	CCONJ
fsr-3131	182	16	6	6	NUM
fsr-3131	182	17	demonstrate	demonstrate	VERB
fsr-3131	182	18	the	the	DET
fsr-3131	182	19	increased	increase	VERB
fsr-3131	182	20	volatility	volatility	NOUN
fsr-3131	182	21	that	that	SCONJ
fsr-3131	182	22	the	the	DET
fsr-3131	182	23	leveraged	leverage	VERB
fsr-3131	182	24	fund	fund	NOUN
fsr-3131	182	25	has	have	VERB
fsr-3131	182	26	on	on	ADP
fsr-3131	182	27	portfolio	portfolio	NOUN
fsr-3131	182	28	performance	performance	NOUN
fsr-3131	182	29	.	.	PUNCT
fsr-3131	183	1	the	the	DET
fsr-3131	183	2	results	result	NOUN
fsr-3131	183	3	here	here	ADV
fsr-3131	183	4	are	be	AUX
fsr-3131	183	5	less	less	ADV
fsr-3131	183	6	encouraging	encouraging	ADJ
fsr-3131	183	7	than	than	ADP
fsr-3131	183	8	what	what	PRON
fsr-3131	183	9	was	be	AUX
fsr-3131	183	10	previously	previously	ADV
fsr-3131	183	11	shown	show	VERB
fsr-3131	183	12	,	,	PUNCT
fsr-3131	183	13	because	because	SCONJ
fsr-3131	183	14	there	there	PRON
fsr-3131	183	15	does	do	AUX
fsr-3131	183	16	not	not	PART
fsr-3131	183	17	appear	appear	VERB
fsr-3131	183	18	to	to	PART
fsr-3131	183	19	be	be	AUX
fsr-3131	183	20	a	a	DET
fsr-3131	183	21	commensurate	commensurate	ADJ
fsr-3131	183	22	increase	increase	NOUN
fsr-3131	183	23	in	in	ADP
fsr-3131	183	24	return	return	NOUN
fsr-3131	183	25	for	for	ADP
fsr-3131	183	26	taking	take	VERB
fsr-3131	183	27	the	the	DET
fsr-3131	183	28	additional	additional	ADJ
fsr-3131	183	29	risk	risk	NOUN
fsr-3131	183	30	.	.	PUNCT
fsr-3131	184	1	this	this	PRON
fsr-3131	184	2	is	be	AUX
fsr-3131	184	3	consistent	consistent	ADJ
fsr-3131	184	4	with	with	ADP
fsr-3131	184	5	trainor	trainor	NOUN
fsr-3131	184	6	and	and	CCONJ
fsr-3131	184	7	baryla	baryla	NOUN
fsr-3131	184	8	’s	’s	PART
fsr-3131	184	9	(	(	PUNCT
fsr-3131	184	10	2008	2008	NUM
fsr-3131	184	11	)	)	PUNCT
fsr-3131	184	12	finding	find	VERB
fsr-3131	184	13	that	that	SCONJ
fsr-3131	184	14	over	over	ADP
fsr-3131	184	15	one	one	NUM
fsr-3131	184	16	year	year	NOUN
fsr-3131	184	17	,	,	PUNCT
fsr-3131	184	18	a	a	DET
fsr-3131	184	19	2	2	NUM
fsr-3131	184	20	�	�	NOUN
fsr-3131	184	21	leveraged	leverage	VERB
fsr-3131	184	22	fund	fund	NOUN
fsr-3131	184	23	produces	produce	VERB
fsr-3131	184	24	2	2	NUM
fsr-3131	184	25	�	�	PROPN
fsr-3131	184	26	the	the	DET
fsr-3131	184	27	standard	standard	ADJ
fsr-3131	184	28	deviation	deviation	NOUN
fsr-3131	184	29	of	of	ADP
fsr-3131	184	30	returns	return	NOUN
fsr-3131	184	31	,	,	PUNCT
fsr-3131	184	32	but	but	CCONJ
fsr-3131	184	33	only	only	ADV
fsr-3131	184	34	increase	increase	VERB
fsr-3131	184	35	the	the	DET
fsr-3131	184	36	return	return	NOUN
fsr-3131	184	37	by	by	ADP
fsr-3131	184	38	a	a	DET
fsr-3131	184	39	factor	factor	NOUN
fsr-3131	184	40	of	of	ADP
fsr-3131	184	41	1.4	1.4	NUM
fsr-3131	184	42	.	.	PUNCT
fsr-3131	185	1	thus	thus	ADV
fsr-3131	185	2	,	,	PUNCT
fsr-3131	185	3	the	the	DET
fsr-3131	185	4	question	question	NOUN
fsr-3131	185	5	remains	remain	VERB
fsr-3131	185	6	whether	whether	SCONJ
fsr-3131	185	7	the	the	DET
fsr-3131	185	8	reduction	reduction	NOUN
fsr-3131	185	9	(	(	PUNCT
fsr-3131	185	10	increase	increase	NOUN
fsr-3131	185	11	)	)	PUNCT
fsr-3131	185	12	in	in	ADP
fsr-3131	185	13	volatility	volatility	NOUN
fsr-3131	185	14	was	be	AUX
fsr-3131	185	15	sufficient	sufficient	ADJ
fsr-3131	185	16	enough	enough	ADV
fsr-3131	185	17	to	to	PART
fsr-3131	185	18	justify	justify	VERB
fsr-3131	185	19	the	the	DET
fsr-3131	185	20	reduced	reduce	VERB
fsr-3131	185	21	(	(	PUNCT
fsr-3131	185	22	enhanced	enhanced	ADJ
fsr-3131	185	23	)	)	PUNCT
fsr-3131	185	24	returns	return	NOUN
fsr-3131	185	25	.	.	PUNCT
fsr-3131	186	1	tables	table	NOUN
fsr-3131	186	2	4	4	NUM
fsr-3131	186	3	and	and	CCONJ
fsr-3131	186	4	5	5	NUM
fsr-3131	186	5	provide	provide	VERB
fsr-3131	186	6	an	an	DET
fsr-3131	186	7	answer	answer	NOUN
fsr-3131	186	8	this	this	DET
fsr-3131	186	9	question	question	NOUN
fsr-3131	186	10	more	more	ADV
fsr-3131	186	11	completely	completely	ADV
fsr-3131	186	12	.	.	PUNCT
fsr-3131	187	1	fig	fig	NOUN
fsr-3131	187	2	.	.	PUNCT
fsr-3131	188	1	5	5	X
fsr-3131	188	2	.	.	X
fsr-3131	188	3	terminal	terminal	ADJ
fsr-3131	188	4	wealth	wealth	NOUN
fsr-3131	188	5	distributions	distribution	NOUN
fsr-3131	188	6	for	for	ADP
fsr-3131	188	7	investors	investor	NOUN
fsr-3131	188	8	using	use	VERB
fsr-3131	188	9	2001–2010	2001–2010	NUM
fsr-3131	188	10	return	return	NOUN
fsr-3131	188	11	distributions	distribution	NOUN
fsr-3131	188	12	.	.	PUNCT
fsr-3131	189	1	distribution	distribution	NOUN
fsr-3131	189	2	assumes	assume	VERB
fsr-3131	189	3	$	$	SYM
fsr-3131	189	4	1,000	1,000	NUM
fsr-3131	189	5	initial	initial	ADJ
fsr-3131	189	6	wealth	wealth	NOUN
fsr-3131	189	7	,	,	PUNCT
fsr-3131	189	8	rebalancing	rebalancing	NOUN
fsr-3131	189	9	each	each	DET
fsr-3131	189	10	year	year	NOUN
fsr-3131	189	11	,	,	PUNCT
fsr-3131	189	12	and	and	CCONJ
fsr-3131	189	13	a	a	DET
fsr-3131	189	14	1	1	NUM
fsr-3131	189	15	%	%	NOUN
fsr-3131	189	16	annual	annual	ADJ
fsr-3131	189	17	fee	fee	NOUN
fsr-3131	189	18	for	for	ADP
fsr-3131	189	19	the	the	DET
fsr-3131	189	20	leveraged	leverage	VERB
fsr-3131	189	21	stock	stock	NOUN
fsr-3131	189	22	fund	fund	NOUN
fsr-3131	189	23	.	.	PUNCT
fsr-3131	190	1	fig	fig	NOUN
fsr-3131	190	2	.	.	PUNCT
fsr-3131	191	1	6	6	X
fsr-3131	191	2	.	.	X
fsr-3131	191	3	terminal	terminal	ADJ
fsr-3131	191	4	wealth	wealth	NOUN
fsr-3131	191	5	distributions	distribution	NOUN
fsr-3131	191	6	for	for	ADP
fsr-3131	191	7	investors	investor	NOUN
fsr-3131	191	8	using	use	VERB
fsr-3131	191	9	1991–2000	1991–2000	NUM
fsr-3131	191	10	return	return	NOUN
fsr-3131	191	11	distributions	distribution	NOUN
fsr-3131	191	12	.	.	PUNCT
fsr-3131	192	1	distribution	distribution	NOUN
fsr-3131	192	2	assumes	assume	VERB
fsr-3131	192	3	$	$	SYM
fsr-3131	192	4	1,000	1,000	NUM
fsr-3131	192	5	initial	initial	ADJ
fsr-3131	192	6	wealth	wealth	NOUN
fsr-3131	192	7	,	,	PUNCT
fsr-3131	192	8	rebalancing	rebalancing	NOUN
fsr-3131	192	9	each	each	DET
fsr-3131	192	10	year	year	NOUN
fsr-3131	192	11	,	,	PUNCT
fsr-3131	192	12	and	and	CCONJ
fsr-3131	192	13	a	a	DET
fsr-3131	192	14	1	1	NUM
fsr-3131	192	15	%	%	NOUN
fsr-3131	192	16	annual	annual	ADJ
fsr-3131	192	17	fee	fee	NOUN
fsr-3131	192	18	for	for	ADP
fsr-3131	192	19	the	the	DET
fsr-3131	192	20	leveraged	leverage	VERB
fsr-3131	192	21	stock	stock	NOUN
fsr-3131	192	22	fund	fund	NOUN
fsr-3131	192	23	.	.	PUNCT
fsr-3131	193	1	132	132	NUM
fsr-3131	193	2	j.a	j.a	PROPN
fsr-3131	193	3	.	.	PROPN
fsr-3131	193	4	dilellio	dilellio	PROPN
fsr-3131	193	5	,	,	PUNCT
fsr-3131	193	6	r.	r.	PROPN
fsr-3131	193	7	hesse	hesse	PROPN
fsr-3131	193	8	,	,	PUNCT
fsr-3131	193	9	d.j	d.j	PROPN
fsr-3131	193	10	.	.	PROPN
fsr-3131	193	11	stanley	stanley	PROPN
fsr-3131	193	12	/	/	SYM
fsr-3131	193	13	financial	financial	ADJ
fsr-3131	193	14	services	service	NOUN
fsr-3131	193	15	review	review	VERB
fsr-3131	193	16	23	23	NUM
fsr-3131	193	17	(	(	PUNCT
fsr-3131	193	18	2014	2014	NUM
fsr-3131	193	19	)	)	PUNCT
fsr-3131	194	1	123–149	123–149	NUM
fsr-3131	194	2	6	6	NUM
fsr-3131	194	3	.	.	PUNCT
fsr-3131	195	1	return	return	NOUN
fsr-3131	195	2	statistics	statistic	NOUN
fsr-3131	195	3	for	for	ADP
fsr-3131	195	4	terminal	terminal	ADJ
fsr-3131	195	5	wealth	wealth	NOUN
fsr-3131	195	6	and	and	CCONJ
fsr-3131	195	7	sharpe	sharpe	PROPN
fsr-3131	195	8	ratio	ratio	PROPN
fsr-3131	195	9	to	to	PART
fsr-3131	195	10	compare	compare	VERB
fsr-3131	195	11	the	the	DET
fsr-3131	195	12	effect	effect	NOUN
fsr-3131	195	13	of	of	ADP
fsr-3131	195	14	the	the	DET
fsr-3131	195	15	alternative	alternative	ADJ
fsr-3131	195	16	allocations	allocation	NOUN
fsr-3131	195	17	on	on	ADP
fsr-3131	195	18	terminal	terminal	ADJ
fsr-3131	195	19	wealth	wealth	NOUN
fsr-3131	195	20	and	and	CCONJ
fsr-3131	195	21	sharpe	sharpe	PROPN
fsr-3131	195	22	ratio	ratio	PROPN
fsr-3131	195	23	statistics	statistic	NOUN
fsr-3131	195	24	found	find	VERB
fsr-3131	195	25	for	for	ADP
fsr-3131	195	26	each	each	PRON
fsr-3131	195	27	of	of	ADP
fsr-3131	195	28	the	the	DET
fsr-3131	195	29	100,000	100,000	NUM
fsr-3131	195	30	trials	trial	NOUN
fsr-3131	195	31	,	,	PUNCT
fsr-3131	195	32	we	we	PRON
fsr-3131	195	33	determined	determine	VERB
fsr-3131	195	34	a	a	DET
fsr-3131	195	35	coefficient	coefficient	NOUN
fsr-3131	195	36	of	of	ADP
fsr-3131	195	37	variation	variation	NOUN
fsr-3131	195	38	(	(	PUNCT
fsr-3131	195	39	cv	cv	PROPN
fsr-3131	195	40	)	)	PUNCT
fsr-3131	195	41	for	for	ADP
fsr-3131	195	42	each	each	PRON
fsr-3131	195	43	.	.	PUNCT
fsr-3131	196	1	the	the	DET
fsr-3131	196	2	cv	cv	PROPN
fsr-3131	196	3	is	be	AUX
fsr-3131	196	4	found	find	VERB
fsr-3131	196	5	from	from	ADP
fsr-3131	196	6	the	the	DET
fsr-3131	196	7	standard	standard	ADJ
fsr-3131	196	8	deviation	deviation	NOUN
fsr-3131	196	9	divided	divide	VERB
fsr-3131	196	10	by	by	ADP
fsr-3131	196	11	the	the	DET
fsr-3131	196	12	corresponding	correspond	VERB
fsr-3131	196	13	mean	mean	NOUN
fsr-3131	196	14	.	.	PUNCT
fsr-3131	197	1	we	we	PRON
fsr-3131	197	2	propose	propose	VERB
fsr-3131	197	3	that	that	SCONJ
fsr-3131	197	4	a	a	DET
fsr-3131	197	5	rational	rational	ADJ
fsr-3131	197	6	investor	investor	NOUN
fsr-3131	197	7	prefers	prefer	VERB
fsr-3131	197	8	any	any	DET
fsr-3131	197	9	alterative	alterative	ADJ
fsr-3131	197	10	allocation	allocation	NOUN
fsr-3131	197	11	that	that	PRON
fsr-3131	197	12	reduces	reduce	VERB
fsr-3131	197	13	,	,	PUNCT
fsr-3131	197	14	but	but	CCONJ
fsr-3131	197	15	keeps	keep	VERB
fsr-3131	197	16	positive	positive	ADJ
fsr-3131	197	17	,	,	PUNCT
fsr-3131	197	18	the	the	DET
fsr-3131	197	19	cv	cv	PROPN
fsr-3131	197	20	for	for	ADP
fsr-3131	197	21	their	their	PRON
fsr-3131	197	22	terminal	terminal	ADJ
fsr-3131	197	23	wealth	wealth	NOUN
fsr-3131	197	24	(	(	PUNCT
fsr-3131	197	25	cv	cv	PROPN
fsr-3131	197	26	-	-	PUNCT
fsr-3131	197	27	tw	tw	NOUN
fsr-3131	197	28	)	)	PUNCT
fsr-3131	197	29	and	and	CCONJ
fsr-3131	197	30	sharpe	sharpe	PROPN
fsr-3131	197	31	ratio	ratio	PROPN
fsr-3131	197	32	(	(	PUNCT
fsr-3131	197	33	cv	cv	PROPN
fsr-3131	197	34	-	-	PUNCT
fsr-3131	197	35	s	s	NOUN
fsr-3131	197	36	)	)	PUNCT
fsr-3131	197	37	.	.	PUNCT
fsr-3131	198	1	tables	table	NOUN
fsr-3131	198	2	4	4	NUM
fsr-3131	198	3	and	and	CCONJ
fsr-3131	198	4	5	5	NUM
fsr-3131	198	5	list	list	NOUN
fsr-3131	198	6	these	these	DET
fsr-3131	198	7	statistics	statistic	NOUN
fsr-3131	198	8	for	for	ADP
fsr-3131	198	9	the	the	DET
fsr-3131	198	10	simulated	simulate	VERB
fsr-3131	198	11	periods	period	NOUN
fsr-3131	198	12	2001–2010	2001–2010	NUM
fsr-3131	198	13	and	and	CCONJ
fsr-3131	198	14	1991–2000	1991–2000	NUM
fsr-3131	198	15	,	,	PUNCT
fsr-3131	198	16	respectively	respectively	ADV
fsr-3131	198	17	.	.	PUNCT
fsr-3131	199	1	referring	refer	VERB
fsr-3131	199	2	to	to	ADP
fsr-3131	199	3	the	the	DET
fsr-3131	199	4	upper	upper	ADJ
fsr-3131	199	5	panel	panel	NOUN
fsr-3131	199	6	of	of	ADP
fsr-3131	199	7	table	table	NOUN
fsr-3131	199	8	4	4	NUM
fsr-3131	199	9	in	in	ADP
fsr-3131	199	10	the	the	DET
fsr-3131	199	11	row	row	NOUN
fsr-3131	199	12	labeled	label	VERB
fsr-3131	199	13	“	"	PUNCT
fsr-3131	199	14	terminal	terminal	ADJ
fsr-3131	199	15	wealth	wealth	NOUN
fsr-3131	199	16	statistics	statistic	NOUN
fsr-3131	199	17	,	,	PUNCT
fsr-3131	199	18	”	"	PUNCT
fsr-3131	199	19	smaller	small	ADJ
fsr-3131	199	20	positive	positive	ADJ
fsr-3131	199	21	cv	cv	PROPN
fsr-3131	199	22	-	-	PUNCT
fsr-3131	199	23	tw	tw	NOUN
fsr-3131	199	24	occur	occur	VERB
fsr-3131	199	25	in	in	ADP
fsr-3131	199	26	the	the	DET
fsr-3131	199	27	alternative	alternative	ADJ
fsr-3131	199	28	allocation	allocation	NOUN
fsr-3131	199	29	to	to	ADP
fsr-3131	199	30	the	the	DET
fsr-3131	199	31	inverse	inverse	NOUN
fsr-3131	199	32	equity	equity	NOUN
fsr-3131	199	33	fund	fund	NOUN
fsr-3131	199	34	than	than	ADP
fsr-3131	199	35	the	the	DET
fsr-3131	199	36	traditional	traditional	ADJ
fsr-3131	199	37	allocation	allocation	NOUN
fsr-3131	199	38	.	.	PUNCT
fsr-3131	200	1	this	this	DET
fsr-3131	200	2	reduction	reduction	NOUN
fsr-3131	200	3	is	be	AUX
fsr-3131	200	4	statistically	statistically	ADV
fsr-3131	200	5	significant	significant	ADJ
fsr-3131	200	6	at	at	ADP
fsr-3131	200	7	less	less	ADJ
fsr-3131	200	8	than	than	ADP
fsr-3131	200	9	a	a	DET
fsr-3131	200	10	0.001	0.001	NUM
fsr-3131	200	11	level	level	NOUN
fsr-3131	200	12	,	,	PUNCT
fsr-3131	200	13	based	base	VERB
fsr-3131	200	14	on	on	ADP
fsr-3131	200	15	comparing	compare	VERB
fsr-3131	200	16	the	the	DET
fsr-3131	200	17	reduced	reduced	ADJ
fsr-3131	200	18	values	value	NOUN
fsr-3131	200	19	(	(	PUNCT
fsr-3131	200	20	0.458	0.458	NUM
fsr-3131	200	21	,	,	PUNCT
fsr-3131	200	22	0.371	0.371	NUM
fsr-3131	200	23	,	,	PUNCT
fsr-3131	200	24	and	and	CCONJ
fsr-3131	200	25	0.289	0.289	NUM
fsr-3131	200	26	)	)	PUNCT
fsr-3131	200	27	to	to	ADP
fsr-3131	200	28	a	a	DET
fsr-3131	200	29	99.9	99.9	NUM
fsr-3131	200	30	%	%	NOUN
fsr-3131	200	31	confidence	confidence	NOUN
fsr-3131	200	32	interval	interval	NOUN
fsr-3131	200	33	for	for	ADP
fsr-3131	200	34	the	the	DET
fsr-3131	200	35	cv	cv	PROPN
fsr-3131	200	36	-	-	PUNCT
fsr-3131	200	37	tw	tw	NOUN
fsr-3131	200	38	defined	define	VERB
fsr-3131	200	39	as	as	ADP
fsr-3131	200	40	99.9	99.9	NUM
fsr-3131	200	41	%	%	NOUN
fsr-3131	200	42	confidence	confidence	NOUN
fsr-3131	200	43	interval	interval	NOUN
fsr-3131	200	44	for	for	ADP
fsr-3131	200	45	cv	cv	PROPN
fsr-3131	200	46	-	-	PUNCT
fsr-3131	200	47	tw	tw	PROPN
fsr-3131	200	48	�	�	PROPN
fsr-3131	200	49	�	�	PROPN
fsr-3131	200	50	tw	tw	PROPN
fsr-3131	200	51	x	x	X
fsr-3131	200	52	�	�	PROPN
fsr-3131	200	53	tw	tw	PART
fsr-3131	200	54	�	�	PROPN
fsr-3131	200	55	z99.9	z99.9	PROPN
fsr-3131	200	56	%	%	NOUN
fsr-3131	200	57	�	�	PROPN
fsr-3131	200	58	tw	tw	NOUN
fsr-3131	200	59	�	�	PROPN
fsr-3131	200	60	n	n	NUM
fsr-3131	200	61	.	.	PUNCT
fsr-3131	201	1	here	here	ADV
fsr-3131	201	2	�	�	PROPN
fsr-3131	201	3	tw	tw	NOUN
fsr-3131	201	4	and	and	CCONJ
fsr-3131	201	5	x	x	NOUN
fsr-3131	201	6	�	�	NOUN
fsr-3131	201	7	tw	tw	NOUN
fsr-3131	201	8	are	be	AUX
fsr-3131	201	9	the	the	DET
fsr-3131	201	10	standard	standard	ADJ
fsr-3131	201	11	deviation	deviation	NOUN
fsr-3131	201	12	and	and	CCONJ
fsr-3131	201	13	mean	mean	NOUN
fsr-3131	201	14	of	of	ADP
fsr-3131	201	15	terminal	terminal	ADJ
fsr-3131	201	16	wealth	wealth	NOUN
fsr-3131	201	17	,	,	PUNCT
fsr-3131	201	18	z99.9	z99.9	PROPN
fsr-3131	201	19	%	%	NOUN
fsr-3131	201	20	is	be	AUX
fsr-3131	201	21	the	the	DET
fsr-3131	201	22	z	z	NOUN
fsr-3131	201	23	-	-	PUNCT
fsr-3131	201	24	statistic	statistic	NOUN
fsr-3131	201	25	corresponding	corresponding	NOUN
fsr-3131	201	26	to	to	ADP
fsr-3131	201	27	a	a	DET
fsr-3131	201	28	99.9	99.9	NUM
fsr-3131	201	29	%	%	NOUN
fsr-3131	201	30	interval	interval	NOUN
fsr-3131	201	31	,	,	PUNCT
fsr-3131	201	32	and	and	CCONJ
fsr-3131	201	33	n	n	PRON
fsr-3131	201	34	�	�	PROPN
fsr-3131	201	35	100,000	100,000	NUM
fsr-3131	201	36	.	.	PUNCT
fsr-3131	202	1	this	this	DET
fsr-3131	202	2	equation	equation	NOUN
fsr-3131	202	3	follows	follow	VERB
fsr-3131	202	4	the	the	DET
fsr-3131	202	5	form	form	NOUN
fsr-3131	202	6	of	of	ADP
fsr-3131	202	7	a	a	DET
fsr-3131	202	8	coefficient	coefficient	NOUN
fsr-3131	202	9	of	of	ADP
fsr-3131	202	10	variation	variation	NOUN
fsr-3131	202	11	,	,	PUNCT
fsr-3131	202	12	but	but	CCONJ
fsr-3131	202	13	the	the	DET
fsr-3131	202	14	denominator	denominator	NOUN
fsr-3131	202	15	has	have	AUX
fsr-3131	202	16	been	be	AUX
fsr-3131	202	17	changed	change	VERB
fsr-3131	202	18	from	from	ADP
fsr-3131	202	19	the	the	DET
fsr-3131	202	20	point	point	NOUN
fsr-3131	202	21	estimate	estimate	NOUN
fsr-3131	202	22	to	to	ADP
fsr-3131	202	23	an	an	DET
fsr-3131	202	24	interval	interval	NOUN
fsr-3131	202	25	estimate	estimate	NOUN
fsr-3131	202	26	,	,	PUNCT
fsr-3131	202	27	thereby	thereby	ADV
fsr-3131	202	28	allowing	allow	VERB
fsr-3131	202	29	for	for	ADP
fsr-3131	202	30	direct	direct	ADJ
fsr-3131	202	31	calculation	calculation	NOUN
fsr-3131	202	32	the	the	DET
fsr-3131	202	33	confidence	confidence	NOUN
fsr-3131	202	34	interval	interval	NOUN
fsr-3131	202	35	.	.	PUNCT
fsr-3131	203	1	we	we	PRON
fsr-3131	203	2	propose	propose	VERB
fsr-3131	203	3	that	that	SCONJ
fsr-3131	203	4	cv	cv	PROPN
fsr-3131	203	5	-	-	PUNCT
fsr-3131	203	6	tw	tw	NOUN
fsr-3131	203	7	that	that	PRON
fsr-3131	203	8	fall	fall	VERB
fsr-3131	203	9	outside	outside	ADP
fsr-3131	203	10	this	this	DET
fsr-3131	203	11	region	region	NOUN
fsr-3131	203	12	are	be	AUX
fsr-3131	203	13	statistically	statistically	ADV
fsr-3131	203	14	significant	significant	ADJ
fsr-3131	203	15	at	at	ADP
fsr-3131	203	16	less	less	ADJ
fsr-3131	203	17	than	than	ADP
fsr-3131	203	18	a	a	DET
fsr-3131	203	19	0.001	0.001	NUM
fsr-3131	203	20	level	level	NOUN
fsr-3131	203	21	.	.	PUNCT
fsr-3131	204	1	for	for	ADP
fsr-3131	204	2	the	the	DET
fsr-3131	204	3	results	result	NOUN
fsr-3131	204	4	in	in	ADP
fsr-3131	204	5	table	table	NOUN
fsr-3131	204	6	4	4	NUM
fsr-3131	204	7	,	,	PUNCT
fsr-3131	204	8	evaluation	evaluation	NOUN
fsr-3131	204	9	this	this	DET
fsr-3131	204	10	equation	equation	NOUN
fsr-3131	204	11	yields	yield	VERB
fsr-3131	204	12	intervals	interval	NOUN
fsr-3131	204	13	of	of	ADP
fsr-3131	204	14	[	[	X
fsr-3131	204	15	0.573	0.573	NUM
fsr-3131	204	16	,	,	PUNCT
fsr-3131	204	17	0.580	0.580	NUM
fsr-3131	204	18	]	]	PUNCT
fsr-3131	204	19	,	,	PUNCT
fsr-3131	204	20	[	[	X
fsr-3131	204	21	0.472	0.472	NUM
fsr-3131	204	22	,	,	PUNCT
fsr-3131	204	23	0.476	0.476	NUM
fsr-3131	204	24	]	]	PUNCT
fsr-3131	204	25	,	,	PUNCT
fsr-3131	204	26	and	and	CCONJ
fsr-3131	204	27	[	[	X
fsr-3131	204	28	0.378	0.378	NUM
fsr-3131	204	29	,	,	PUNCT
fsr-3131	204	30	0.381	0.381	NUM
fsr-3131	204	31	]	]	PUNCT
fsr-3131	204	32	for	for	ADP
fsr-3131	204	33	the	the	DET
fsr-3131	204	34	25	25	NUM
fsr-3131	204	35	-	-	PUNCT
fsr-3131	204	36	year	year	NOUN
fsr-3131	204	37	old	old	ADJ
fsr-3131	204	38	,	,	PUNCT
fsr-3131	204	39	40	40	NUM
fsr-3131	204	40	-	-	PUNCT
fsr-3131	204	41	year	year	NOUN
fsr-3131	204	42	old	old	ADJ
fsr-3131	204	43	,	,	PUNCT
fsr-3131	204	44	and	and	CCONJ
fsr-3131	204	45	55	55	NUM
fsr-3131	204	46	-	-	PUNCT
fsr-3131	204	47	year	year	NOUN
fsr-3131	204	48	old	old	ADJ
fsr-3131	204	49	investors	investor	NOUN
fsr-3131	204	50	,	,	PUNCT
fsr-3131	204	51	respectively	respectively	ADV
fsr-3131	204	52	.	.	PUNCT
fsr-3131	205	1	thus	thus	ADV
fsr-3131	205	2	,	,	PUNCT
fsr-3131	205	3	we	we	PRON
fsr-3131	205	4	can	can	AUX
fsr-3131	205	5	make	make	VERB
fsr-3131	205	6	the	the	DET
fsr-3131	205	7	claim	claim	NOUN
fsr-3131	205	8	that	that	SCONJ
fsr-3131	205	9	the	the	DET
fsr-3131	205	10	cv	cv	PROPN
fsr-3131	205	11	-	-	PUNCT
fsr-3131	205	12	tw	tw	PROPN
fsr-3131	205	13	has	have	AUX
fsr-3131	205	14	been	be	AUX
fsr-3131	205	15	significantly	significantly	ADV
fsr-3131	205	16	reduced	reduce	VERB
fsr-3131	205	17	when	when	SCONJ
fsr-3131	205	18	the	the	DET
fsr-3131	205	19	inverse	inverse	NOUN
fsr-3131	205	20	fund	fund	NOUN
fsr-3131	205	21	is	be	AUX
fsr-3131	205	22	used	use	VERB
fsr-3131	205	23	.	.	PUNCT
fsr-3131	206	1	this	this	DET
fsr-3131	206	2	reduction	reduction	NOUN
fsr-3131	206	3	suggests	suggest	VERB
fsr-3131	206	4	that	that	SCONJ
fsr-3131	206	5	although	although	SCONJ
fsr-3131	206	6	returns	return	NOUN
fsr-3131	206	7	are	be	AUX
fsr-3131	206	8	reduced	reduce	VERB
fsr-3131	206	9	as	as	SCONJ
fsr-3131	206	10	shown	show	VERB
fsr-3131	206	11	in	in	ADP
fsr-3131	206	12	a	a	DET
fsr-3131	206	13	reduction	reduction	NOUN
fsr-3131	206	14	in	in	ADP
fsr-3131	206	15	means	mean	NOUN
fsr-3131	206	16	,	,	PUNCT
fsr-3131	206	17	risk	risk	NOUN
fsr-3131	206	18	as	as	SCONJ
fsr-3131	206	19	measured	measure	VERB
fsr-3131	206	20	by	by	ADP
fsr-3131	206	21	the	the	DET
fsr-3131	206	22	standard	standard	ADJ
fsr-3131	206	23	deviation	deviation	NOUN
fsr-3131	206	24	,	,	PUNCT
fsr-3131	206	25	is	be	AUX
fsr-3131	206	26	reduced	reduce	VERB
fsr-3131	206	27	to	to	ADP
fsr-3131	206	28	a	a	DET
fsr-3131	206	29	greater	great	ADJ
fsr-3131	206	30	degree	degree	NOUN
fsr-3131	206	31	.	.	PUNCT
fsr-3131	207	1	whereas	whereas	SCONJ
fsr-3131	207	2	the	the	DET
fsr-3131	207	3	reduction	reduction	NOUN
fsr-3131	207	4	in	in	ADP
fsr-3131	207	5	cv	cv	PROPN
fsr-3131	207	6	-	-	PUNCT
fsr-3131	207	7	tw	tw	PROPN
fsr-3131	207	8	is	be	AUX
fsr-3131	207	9	encouraging	encouraging	ADJ
fsr-3131	207	10	,	,	PUNCT
fsr-3131	207	11	it	it	PRON
fsr-3131	207	12	is	be	AUX
fsr-3131	207	13	also	also	ADV
fsr-3131	207	14	relevant	relevant	ADJ
fsr-3131	207	15	to	to	PART
fsr-3131	207	16	note	note	VERB
fsr-3131	207	17	that	that	SCONJ
fsr-3131	207	18	a	a	DET
fsr-3131	207	19	similar	similar	ADJ
fsr-3131	207	20	,	,	PUNCT
fsr-3131	207	21	but	but	CCONJ
fsr-3131	207	22	less	less	ADV
fsr-3131	207	23	significant	significant	ADJ
fsr-3131	207	24	,	,	PUNCT
fsr-3131	207	25	reduction	reduction	NOUN
fsr-3131	207	26	is	be	AUX
fsr-3131	207	27	possible	possible	ADJ
fsr-3131	207	28	if	if	SCONJ
fsr-3131	207	29	the	the	DET
fsr-3131	207	30	alterative	alterative	ADJ
fsr-3131	207	31	10	10	NUM
fsr-3131	207	32	%	%	NOUN
fsr-3131	207	33	allocation	allocation	NOUN
fsr-3131	207	34	applied	apply	VERB
fsr-3131	207	35	to	to	ADP
fsr-3131	207	36	the	the	DET
fsr-3131	207	37	inverse	inverse	NOUN
fsr-3131	207	38	fund	fund	NOUN
fsr-3131	207	39	was	be	AUX
fsr-3131	207	40	switched	switch	VERB
fsr-3131	207	41	to	to	ADP
fsr-3131	207	42	the	the	DET
fsr-3131	207	43	risk	risk	NOUN
fsr-3131	207	44	-	-	PUNCT
fsr-3131	207	45	free	free	ADJ
fsr-3131	207	46	asset	asset	NOUN
fsr-3131	207	47	.	.	PUNCT
fsr-3131	208	1	for	for	ADP
fsr-3131	208	2	example	example	NOUN
fsr-3131	208	3	,	,	PUNCT
fsr-3131	208	4	the	the	DET
fsr-3131	208	5	25	25	NUM
fsr-3131	208	6	-	-	PUNCT
fsr-3131	208	7	year	year	NOUN
fsr-3131	208	8	old	old	ADJ
fsr-3131	208	9	investor	investor	NOUN
fsr-3131	208	10	’s	’s	PART
fsr-3131	208	11	cv	cv	PROPN
fsr-3131	208	12	-	-	PUNCT
fsr-3131	208	13	tw	tw	PROPN
fsr-3131	208	14	reduces	reduce	VERB
fsr-3131	208	15	from	from	ADP
fsr-3131	208	16	0.576	0.576	NUM
fsr-3131	208	17	to	to	ADP
fsr-3131	208	18	either	either	CCONJ
fsr-3131	208	19	0.458	0.458	NUM
fsr-3131	208	20	or	or	CCONJ
fsr-3131	208	21	0.516	0.516	NUM
fsr-3131	208	22	whether	whether	SCONJ
fsr-3131	208	23	their	their	PRON
fsr-3131	208	24	10	10	NUM
fsr-3131	208	25	%	%	NOUN
fsr-3131	208	26	allocation	allocation	NOUN
fsr-3131	208	27	were	be	AUX
fsr-3131	208	28	using	use	VERB
fsr-3131	208	29	inverse	inverse	NOUN
fsr-3131	208	30	funds	fund	NOUN
fsr-3131	208	31	versus	versus	ADP
fsr-3131	208	32	the	the	DET
fsr-3131	208	33	risk	risk	NOUN
fsr-3131	208	34	-	-	PUNCT
fsr-3131	208	35	free	free	ADJ
fsr-3131	208	36	assets	asset	NOUN
fsr-3131	208	37	.	.	PUNCT
fsr-3131	209	1	risk	risk	NOUN
fsr-3131	209	2	free	free	ADJ
fsr-3131	209	3	assets	asset	NOUN
fsr-3131	209	4	also	also	ADV
fsr-3131	209	5	do	do	AUX
fsr-3131	209	6	not	not	PART
fsr-3131	209	7	reduce	reduce	VERB
fsr-3131	209	8	the	the	DET
fsr-3131	209	9	cv	cv	PROPN
fsr-3131	209	10	-	-	PUNCT
fsr-3131	209	11	tw	tw	NOUN
fsr-3131	209	12	as	as	ADV
fsr-3131	209	13	significantly	significantly	ADV
fsr-3131	209	14	as	as	ADP
fsr-3131	209	15	the	the	DET
fsr-3131	209	16	inverse	inverse	NOUN
fsr-3131	209	17	funds	fund	NOUN
fsr-3131	209	18	for	for	ADP
fsr-3131	209	19	40	40	NUM
fsr-3131	209	20	and	and	CCONJ
fsr-3131	209	21	55	55	NUM
fsr-3131	209	22	-	-	PUNCT
fsr-3131	209	23	year	year	NOUN
fsr-3131	209	24	old	old	ADJ
fsr-3131	209	25	investors	investor	NOUN
fsr-3131	209	26	,	,	PUNCT
fsr-3131	209	27	with	with	ADP
fsr-3131	209	28	the	the	DET
fsr-3131	209	29	traditional	traditional	ADJ
fsr-3131	209	30	allocation	allocation	NOUN
fsr-3131	209	31	producing	produce	VERB
fsr-3131	209	32	a	a	DET
fsr-3131	209	33	0.379	0.379	NUM
fsr-3131	209	34	cv	cv	NOUN
fsr-3131	209	35	-	-	PUNCT
fsr-3131	209	36	tw	tw	NOUN
fsr-3131	209	37	for	for	ADP
fsr-3131	209	38	the	the	DET
fsr-3131	209	39	55	55	NUM
fsr-3131	209	40	-	-	PUNCT
fsr-3131	209	41	year	year	NOUN
fsr-3131	209	42	old	old	ADJ
fsr-3131	209	43	,	,	PUNCT
fsr-3131	209	44	versus	versus	ADP
fsr-3131	209	45	0.289	0.289	NUM
fsr-3131	209	46	and	and	CCONJ
fsr-3131	209	47	0.342	0.342	NUM
fsr-3131	209	48	for	for	ADP
fsr-3131	209	49	the	the	DET
fsr-3131	209	50	inverse	inverse	NOUN
fsr-3131	209	51	fund	fund	NOUN
fsr-3131	209	52	and	and	CCONJ
fsr-3131	209	53	risk	risk	NOUN
fsr-3131	209	54	free	free	ADJ
fsr-3131	209	55	asset	asset	NOUN
fsr-3131	209	56	used	use	VERB
fsr-3131	209	57	as	as	ADP
fsr-3131	209	58	the	the	DET
fsr-3131	209	59	alternative	alternative	ADJ
fsr-3131	209	60	investment	investment	NOUN
fsr-3131	209	61	.	.	PUNCT
fsr-3131	210	1	therefore	therefore	ADV
fsr-3131	210	2	,	,	PUNCT
fsr-3131	210	3	the	the	DET
fsr-3131	210	4	55	55	NUM
fsr-3131	210	5	-	-	PUNCT
fsr-3131	210	6	year	year	NOUN
fsr-3131	210	7	old	old	ADJ
fsr-3131	210	8	investor	investor	NOUN
fsr-3131	210	9	’s	’s	PART
fsr-3131	210	10	cv	cv	PROPN
fsr-3131	210	11	is	be	AUX
fsr-3131	210	12	reduced	reduce	VERB
fsr-3131	210	13	by	by	ADP
fsr-3131	210	14	23.7	23.7	NUM
fsr-3131	210	15	%	%	NOUN
fsr-3131	210	16	when	when	SCONJ
fsr-3131	210	17	inverse	inverse	ADJ
fsr-3131	210	18	funds	fund	NOUN
fsr-3131	210	19	are	be	AUX
fsr-3131	210	20	used	use	VERB
fsr-3131	210	21	,	,	PUNCT
fsr-3131	210	22	versus	versus	ADP
fsr-3131	210	23	a	a	DET
fsr-3131	210	24	9.8	9.8	NUM
fsr-3131	210	25	%	%	NOUN
fsr-3131	210	26	reduction	reduction	NOUN
fsr-3131	210	27	when	when	SCONJ
fsr-3131	210	28	risk	risk	NOUN
fsr-3131	210	29	-	-	PUNCT
fsr-3131	210	30	free	free	ADJ
fsr-3131	210	31	assets	asset	NOUN
fsr-3131	210	32	are	be	AUX
fsr-3131	210	33	used	use	VERB
fsr-3131	210	34	.	.	PUNCT
fsr-3131	211	1	unfortunately	unfortunately	ADV
fsr-3131	211	2	,	,	PUNCT
fsr-3131	211	3	the	the	DET
fsr-3131	211	4	benefit	benefit	NOUN
fsr-3131	211	5	of	of	ADP
fsr-3131	211	6	inverse	inverse	NOUN
fsr-3131	211	7	funds	fund	NOUN
fsr-3131	211	8	discussed	discuss	VERB
fsr-3131	211	9	above	above	ADV
fsr-3131	211	10	in	in	ADP
fsr-3131	211	11	the	the	DET
fsr-3131	211	12	context	context	NOUN
fsr-3131	211	13	of	of	ADP
fsr-3131	211	14	reducing	reduce	VERB
fsr-3131	211	15	the	the	DET
fsr-3131	211	16	cv	cv	PROPN
fsr-3131	211	17	-	-	PUNCT
fsr-3131	211	18	tw	tw	PROPN
fsr-3131	211	19	is	be	AUX
fsr-3131	211	20	not	not	PART
fsr-3131	211	21	seen	see	VERB
fsr-3131	211	22	in	in	ADP
fsr-3131	211	23	the	the	DET
fsr-3131	211	24	sharpe	sharpe	PROPN
fsr-3131	211	25	ratio	ratio	PROPN
fsr-3131	211	26	statistics	statistic	NOUN
fsr-3131	211	27	.	.	PUNCT
fsr-3131	212	1	as	as	SCONJ
fsr-3131	212	2	can	can	AUX
fsr-3131	212	3	be	be	AUX
fsr-3131	212	4	seen	see	VERB
fsr-3131	212	5	in	in	ADP
fsr-3131	212	6	the	the	DET
fsr-3131	212	7	row	row	NOUN
fsr-3131	212	8	labeled	label	VERB
fsr-3131	212	9	“	"	PUNCT
fsr-3131	212	10	sharpe	sharpe	PROPN
fsr-3131	212	11	ratio	ratio	PROPN
fsr-3131	212	12	statistics	statistic	NOUN
fsr-3131	212	13	”	"	PUNCT
fsr-3131	212	14	in	in	ADP
fsr-3131	212	15	the	the	DET
fsr-3131	212	16	upper	upper	ADJ
fsr-3131	212	17	panel	panel	NOUN
fsr-3131	212	18	of	of	ADP
fsr-3131	212	19	table	table	NOUN
fsr-3131	212	20	4	4	NUM
fsr-3131	212	21	,	,	PUNCT
fsr-3131	212	22	the	the	DET
fsr-3131	212	23	cv	cv	PROPN
fsr-3131	212	24	-	-	PUNCT
fsr-3131	212	25	s	s	PART
fsr-3131	212	26	is	be	AUX
fsr-3131	212	27	always	always	ADV
fsr-3131	212	28	larger	large	ADJ
fsr-3131	212	29	when	when	SCONJ
fsr-3131	212	30	the	the	DET
fsr-3131	212	31	alternative	alternative	ADJ
fsr-3131	212	32	allocation	allocation	NOUN
fsr-3131	212	33	with	with	ADP
fsr-3131	212	34	inverse	inverse	ADJ
fsr-3131	212	35	funds	fund	NOUN
fsr-3131	212	36	is	be	AUX
fsr-3131	212	37	used	use	VERB
fsr-3131	212	38	.	.	PUNCT
fsr-3131	213	1	furthermore	furthermore	ADV
fsr-3131	213	2	,	,	PUNCT
fsr-3131	213	3	and	and	CCONJ
fsr-3131	213	4	as	as	SCONJ
fsr-3131	213	5	expected	expect	VERB
fsr-3131	213	6	from	from	ADP
fsr-3131	213	7	the	the	DET
fsr-3131	213	8	capital	capital	NOUN
fsr-3131	213	9	market	market	NOUN
fsr-3131	213	10	133j.a	133j.a	PROPN
fsr-3131	213	11	.	.	PUNCT
fsr-3131	214	1	dilellio	dilellio	PROPN
fsr-3131	214	2	,	,	PUNCT
fsr-3131	214	3	r.	r.	PROPN
fsr-3131	214	4	hesse	hesse	PROPN
fsr-3131	214	5	,	,	PUNCT
fsr-3131	214	6	d.j	d.j	PROPN
fsr-3131	214	7	.	.	PROPN
fsr-3131	214	8	stanley	stanley	PROPN
fsr-3131	214	9	/	/	SYM
fsr-3131	214	10	financial	financial	ADJ
fsr-3131	214	11	services	service	NOUN
fsr-3131	214	12	review	review	VERB
fsr-3131	214	13	23	23	NUM
fsr-3131	214	14	(	(	PUNCT
fsr-3131	214	15	2014	2014	NUM
fsr-3131	214	16	)	)	PUNCT
fsr-3131	215	1	123–149	123–149	NUM
fsr-3131	215	2	t	t	NOUN
fsr-3131	215	3	ab	ab	X
fsr-3131	215	4	le	le	ADP
fsr-3131	215	5	4	4	PROPN
fsr-3131	215	6	s	s	NOUN
fsr-3131	215	7	ta	ta	X
fsr-3131	215	8	ti	ti	PROPN
fsr-3131	215	9	st	st	PROPN
fsr-3131	215	10	ic	ic	PROPN
fsr-3131	215	11	s	s	PROPN
fsr-3131	215	12	us	we	PRON
fsr-3131	215	13	in	in	ADP
fsr-3131	215	14	g	g	PROPN
fsr-3131	215	15	20	20	NUM
fsr-3131	215	16	01	01	NUM
fsr-3131	215	17	–	–	SYM
fsr-3131	215	18	2	2	NUM
fsr-3131	215	19	01	01	NUM
fsr-3131	215	20	0	0	NUM
fsr-3131	215	21	re	re	VERB
fsr-3131	215	22	tu	tu	PROPN
fsr-3131	215	23	rn	rn	PROPN
fsr-3131	215	24	di	di	PROPN
fsr-3131	215	25	st	st	PROPN
fsr-3131	215	26	ri	ri	PROPN
fsr-3131	215	27	bu	bu	PROPN
fsr-3131	215	28	ti	ti	PROPN
fsr-3131	215	29	on	on	ADP
fsr-3131	215	30	s	s	PRON
fsr-3131	215	31	fo	fo	INTJ
fsr-3131	215	32	r	r	NOUN
fsr-3131	215	33	si	si	NOUN
fsr-3131	215	34	m	m	NOUN
fsr-3131	215	35	ul	ul	PROPN
fsr-3131	215	36	at	at	ADP
fsr-3131	215	37	io	io	PROPN
fsr-3131	215	38	n	n	AUX
fsr-3131	215	39	sa	sa	PROPN
fsr-3131	215	40	m	m	AUX
fsr-3131	215	41	pl	pl	NOUN
fsr-3131	215	42	in	in	ADP
fsr-3131	215	43	g	g	PROPN
fsr-3131	215	44	t	t	PROPN
fsr-3131	215	45	ra	ra	PROPN
fsr-3131	215	46	di	di	X
fsr-3131	215	47	ti	ti	PROPN
fsr-3131	215	48	on	on	ADP
fsr-3131	215	49	al	al	PROPN
fsr-3131	215	50	al	al	PROPN
fsr-3131	215	51	lo	lo	PROPN
fsr-3131	215	52	ca	can	AUX
fsr-3131	215	53	ti	ti	PROPN
fsr-3131	215	54	on	on	ADP
fsr-3131	215	55	a	a	DET
fsr-3131	215	56	lt	lt	PRON
fsr-3131	215	57	er	er	INTJ
fsr-3131	215	58	na	na	INTJ
fsr-3131	215	59	ti	ti	PROPN
fsr-3131	215	60	ve	ve	VERB
fsr-3131	215	61	al	al	PROPN
fsr-3131	215	62	lo	lo	PROPN
fsr-3131	215	63	ca	can	AUX
fsr-3131	215	64	ti	ti	PROPN
fsr-3131	215	65	on	on	ADP
fsr-3131	215	66	w	w	ADP
fsr-3131	215	67	it	it	PRON
fsr-3131	215	68	h	h	NOUN
fsr-3131	215	69	in	in	ADP
fsr-3131	215	70	ve	ve	NOUN
fsr-3131	215	71	rs	rs	PROPN
fsr-3131	215	72	e	e	NOUN
fsr-3131	215	73	fu	fu	NOUN
fsr-3131	215	74	nd	nd	PRON
fsr-3131	215	75	a	a	DET
fsr-3131	215	76	lt	lt	INTJ
fsr-3131	215	77	er	er	INTJ
fsr-3131	215	78	na	na	INTJ
fsr-3131	215	79	ti	ti	PROPN
fsr-3131	215	80	ve	ve	VERB
fsr-3131	215	81	al	al	PROPN
fsr-3131	215	82	lo	lo	PROPN
fsr-3131	215	83	ca	can	AUX
fsr-3131	215	84	ti	ti	PROPN
fsr-3131	215	85	on	on	ADP
fsr-3131	215	86	w	w	ADP
fsr-3131	216	1	it	it	PRON
fsr-3131	217	1	h	h	NOUN
fsr-3131	217	2	ri	ri	INTJ
fsr-3131	217	3	sk	sk	INTJ
fsr-3131	218	1	-f	-f	PROPN
fsr-3131	218	2	re	re	ADP
fsr-3131	218	3	e	e	NOUN
fsr-3131	218	4	as	as	ADP
fsr-3131	218	5	se	se	PROPN
fsr-3131	218	6	t	t	PROPN
fsr-3131	218	7	25	25	NUM
fsr-3131	218	8	-y	-y	SYM
fsr-3131	218	9	ea	ea	PROPN
fsr-3131	218	10	r	r	NOUN
fsr-3131	218	11	ol	ol	PROPN
fsr-3131	218	12	d	d	PROPN
fsr-3131	218	13	40	40	NUM
fsr-3131	218	14	-y	-y	NUM
fsr-3131	218	15	ea	ea	NOUN
fsr-3131	218	16	r	r	NOUN
fsr-3131	218	17	ol	ol	PROPN
fsr-3131	218	18	d	d	PROPN
fsr-3131	218	19	55	55	NUM
fsr-3131	218	20	-y	-y	SYM
fsr-3131	218	21	ea	ea	NOUN
fsr-3131	218	22	r	r	NOUN
fsr-3131	218	23	ol	ol	PROPN
fsr-3131	219	1	d	d	PROPN
fsr-3131	219	2	25	25	NUM
fsr-3131	219	3	-y	-y	NUM
fsr-3131	219	4	ea	ea	NOUN
fsr-3131	219	5	r	r	NOUN
fsr-3131	219	6	ol	ol	PROPN
fsr-3131	219	7	d	d	PROPN
fsr-3131	219	8	40	40	NUM
fsr-3131	219	9	-y	-y	NUM
fsr-3131	219	10	ea	ea	NOUN
fsr-3131	219	11	r	r	NOUN
fsr-3131	219	12	ol	ol	PROPN
fsr-3131	220	1	d	d	PROPN
fsr-3131	220	2	55	55	NUM
fsr-3131	220	3	-y	-y	SYM
fsr-3131	220	4	ea	ea	NOUN
fsr-3131	220	5	r	r	NOUN
fsr-3131	220	6	ol	ol	PROPN
fsr-3131	220	7	d	d	PROPN
fsr-3131	220	8	25	25	NUM
fsr-3131	220	9	-y	-y	NUM
fsr-3131	220	10	ea	ea	NOUN
fsr-3131	220	11	r	r	NOUN
fsr-3131	220	12	ol	ol	PROPN
fsr-3131	221	1	d	d	PROPN
fsr-3131	221	2	40	40	NUM
fsr-3131	221	3	-y	-y	NUM
fsr-3131	221	4	ea	ea	NOUN
fsr-3131	221	5	r	r	NOUN
fsr-3131	221	6	ol	ol	PROPN
fsr-3131	221	7	d	d	PROPN
fsr-3131	221	8	55	55	NUM
fsr-3131	221	9	-y	-y	SYM
fsr-3131	221	10	ea	ea	NOUN
fsr-3131	221	11	r	r	NOUN
fsr-3131	221	12	ol	ol	PROPN
fsr-3131	221	13	d	d	PROPN
fsr-3131	221	14	in	in	ADP
fsr-3131	221	15	ve	ve	PROPN
fsr-3131	221	16	rs	rs	PROPN
fsr-3131	221	17	e	e	PROPN
fsr-3131	221	18	fu	fu	NOUN
fsr-3131	221	19	nd	nd	PROPN
fsr-3131	221	20	(	(	PUNCT
fsr-3131	221	21	�	�	PROPN
fsr-3131	221	22	1	1	NUM
fsr-3131	221	23	�	�	PROPN
fsr-3131	221	24	)	)	PUNCT
fsr-3131	221	25	t	t	PROPN
fsr-3131	221	26	er	er	INTJ
fsr-3131	221	27	m	m	VERB
fsr-3131	221	28	in	in	ADP
fsr-3131	221	29	al	al	PROPN
fsr-3131	221	30	w	w	PROPN
fsr-3131	221	31	ea	ea	PROPN
fsr-3131	222	1	lt	lt	PROPN
fsr-3131	222	2	h	h	PROPN
fsr-3131	222	3	st	st	PROPN
fsr-3131	223	1	at	at	ADP
fsr-3131	223	2	is	be	AUX
fsr-3131	223	3	ti	ti	X
fsr-3131	223	4	cs	cs	PROPN
fsr-3131	223	5	s	s	PROPN
fsr-3131	223	6	ta	ta	PROPN
fsr-3131	223	7	nd	nd	INTJ
fsr-3131	223	8	ar	ar	PROPN
fsr-3131	223	9	d	d	PROPN
fsr-3131	223	10	de	de	X
fsr-3131	223	11	vi	vi	PROPN
fsr-3131	223	12	at	at	ADP
fsr-3131	223	13	io	io	PROPN
fsr-3131	223	14	n	n	ADV
fsr-3131	223	15	$	$	SYM
fsr-3131	223	16	77	77	NUM
fsr-3131	223	17	0	0	NUM
fsr-3131	223	18	$	$	SYM
fsr-3131	223	19	65	65	NUM
fsr-3131	223	20	8	8	NUM
fsr-3131	223	21	$	$	SYM
fsr-3131	223	22	54	54	NUM
fsr-3131	223	23	7	7	NUM
fsr-3131	223	24	$	$	SYM
fsr-3131	223	25	56	56	NUM
fsr-3131	223	26	6	6	NUM
fsr-3131	223	27	$	$	SYM
fsr-3131	223	28	47	47	NUM
fsr-3131	223	29	5	5	NUM
fsr-3131	223	30	$	$	SYM
fsr-3131	223	31	38	38	NUM
fsr-3131	223	32	3	3	NUM
fsr-3131	223	33	$	$	SYM
fsr-3131	223	34	68	68	NUM
fsr-3131	223	35	0	0	NUM
fsr-3131	223	36	$	$	SYM
fsr-3131	223	37	58	58	NUM
fsr-3131	223	38	2	2	NUM
fsr-3131	223	39	$	$	SYM
fsr-3131	223	40	48	48	NUM
fsr-3131	223	41	4	4	NUM
fsr-3131	223	42	m	m	NOUN
fsr-3131	223	43	ea	ea	NOUN
fsr-3131	223	44	n	n	CCONJ
fsr-3131	223	45	$	$	SYM
fsr-3131	223	46	1	1	NUM
fsr-3131	223	47	,	,	PUNCT
fsr-3131	223	48	3	3	NUM
fsr-3131	223	49	36	36	NUM
fsr-3131	223	50	$	$	SYM
fsr-3131	223	51	1	1	NUM
fsr-3131	223	52	,	,	PUNCT
fsr-3131	223	53	3	3	NUM
fsr-3131	223	54	88	88	NUM
fsr-3131	223	55	$	$	SYM
fsr-3131	223	56	1	1	NUM
fsr-3131	223	57	,	,	PUNCT
fsr-3131	223	58	4	4	NUM
fsr-3131	223	59	42	42	NUM
fsr-3131	223	60	$	$	SYM
fsr-3131	223	61	1	1	NUM
fsr-3131	223	62	,	,	PUNCT
fsr-3131	223	63	2	2	NUM
fsr-3131	223	64	37	37	NUM
fsr-3131	223	65	$	$	SYM
fsr-3131	223	66	1	1	NUM
fsr-3131	223	67	,	,	PUNCT
fsr-3131	223	68	2	2	NUM
fsr-3131	223	69	81	81	NUM
fsr-3131	223	70	$	$	SYM
fsr-3131	223	71	1	1	NUM
fsr-3131	223	72	,	,	PUNCT
fsr-3131	223	73	3	3	NUM
fsr-3131	223	74	26	26	NUM
fsr-3131	223	75	$	$	SYM
fsr-3131	223	76	1	1	NUM
fsr-3131	223	77	,	,	PUNCT
fsr-3131	223	78	3	3	NUM
fsr-3131	223	79	19	19	NUM
fsr-3131	223	80	$	$	SYM
fsr-3131	223	81	1	1	NUM
fsr-3131	223	82	,	,	PUNCT
fsr-3131	223	83	3	3	NUM
fsr-3131	223	84	66	66	NUM
fsr-3131	223	85	$	$	SYM
fsr-3131	223	86	1	1	NUM
fsr-3131	223	87	,	,	PUNCT
fsr-3131	223	88	4	4	NUM
fsr-3131	223	89	15	15	NUM
fsr-3131	223	90	c	c	NOUN
fsr-3131	223	91	oe	oe	PROPN
fsr-3131	223	92	ffi	ffi	PROPN
fsr-3131	223	93	ci	ci	PROPN
fsr-3131	223	94	en	en	PROPN
fsr-3131	223	95	t	t	PROPN
fsr-3131	223	96	of	of	ADP
fsr-3131	223	97	va	va	PROPN
fsr-3131	223	98	ri	ri	PROPN
fsr-3131	223	99	at	at	ADP
fsr-3131	223	100	io	io	PROPN
fsr-3131	223	101	n	n	PROPN
fsr-3131	223	102	0	0	NUM
fsr-3131	223	103	.	.	PROPN
fsr-3131	224	1	57	57	NUM
fsr-3131	224	2	6	6	NUM
fsr-3131	224	3	0	0	NUM
fsr-3131	224	4	.	.	PUNCT
fsr-3131	225	1	47	47	NUM
fsr-3131	225	2	4	4	NUM
fsr-3131	225	3	0	0	NUM
fsr-3131	225	4	.	.	PUNCT
fsr-3131	225	5	37	37	NUM
fsr-3131	225	6	9	9	NUM
fsr-3131	225	7	0	0	NUM
fsr-3131	225	8	.	.	PUNCT
fsr-3131	225	9	45	45	NUM
fsr-3131	225	10	8	8	NUM
fsr-3131	225	11	0	0	NUM
fsr-3131	225	12	.	.	PUNCT
fsr-3131	226	1	37	37	NUM
fsr-3131	226	2	1	1	NUM
fsr-3131	226	3	0	0	NUM
fsr-3131	226	4	.	.	PUNCT
fsr-3131	226	5	28	28	NUM
fsr-3131	226	6	9	9	NUM
fsr-3131	226	7	0	0	NUM
fsr-3131	226	8	.	.	PUNCT
fsr-3131	227	1	51	51	NUM
fsr-3131	227	2	6	6	NUM
fsr-3131	227	3	0	0	NUM
fsr-3131	227	4	.	.	PUNCT
fsr-3131	228	1	42	42	NUM
fsr-3131	228	2	6	6	NUM
fsr-3131	228	3	0	0	NUM
fsr-3131	228	4	.	.	PUNCT
fsr-3131	229	1	34	34	NUM
fsr-3131	229	2	2	2	NUM
fsr-3131	229	3	s	s	PART
fsr-3131	229	4	ha	ha	INTJ
fsr-3131	229	5	rp	rp	NOUN
fsr-3131	229	6	e	e	X
fsr-3131	229	7	ra	ra	PROPN
fsr-3131	229	8	ti	ti	PROPN
fsr-3131	229	9	o	o	PROPN
fsr-3131	229	10	st	st	PROPN
fsr-3131	229	11	at	at	ADP
fsr-3131	229	12	is	be	AUX
fsr-3131	229	13	ti	ti	X
fsr-3131	229	14	cs	cs	PROPN
fsr-3131	229	15	s	s	PROPN
fsr-3131	229	16	ta	ta	PROPN
fsr-3131	229	17	nd	nd	INTJ
fsr-3131	229	18	ar	ar	PROPN
fsr-3131	229	19	d	d	PROPN
fsr-3131	229	20	de	de	X
fsr-3131	229	21	vi	vi	PROPN
fsr-3131	229	22	at	at	ADP
fsr-3131	229	23	io	io	PROPN
fsr-3131	229	24	n	n	PROPN
fsr-3131	229	25	0	0	NUM
fsr-3131	229	26	.	.	PROPN
fsr-3131	230	1	09	09	NUM
fsr-3131	230	2	3	3	NUM
fsr-3131	230	3	0	0	NUM
fsr-3131	230	4	.	.	PUNCT
fsr-3131	230	5	09	09	NUM
fsr-3131	230	6	3	3	NUM
fsr-3131	230	7	0	0	NUM
fsr-3131	230	8	.	.	PUNCT
fsr-3131	230	9	09	09	NUM
fsr-3131	230	10	3	3	NUM
fsr-3131	230	11	0	0	NUM
fsr-3131	230	12	.	.	PUNCT
fsr-3131	230	13	09	09	NUM
fsr-3131	230	14	3	3	NUM
fsr-3131	230	15	0	0	NUM
fsr-3131	230	16	.	.	PUNCT
fsr-3131	230	17	09	09	NUM
fsr-3131	230	18	3	3	NUM
fsr-3131	230	19	0	0	NUM
fsr-3131	230	20	.	.	PUNCT
fsr-3131	230	21	09	09	NUM
fsr-3131	230	22	3	3	NUM
fsr-3131	230	23	0	0	NUM
fsr-3131	230	24	.	.	PUNCT
fsr-3131	230	25	09	09	NUM
fsr-3131	230	26	3	3	NUM
fsr-3131	230	27	0	0	NUM
fsr-3131	230	28	.	.	PUNCT
fsr-3131	230	29	09	09	NUM
fsr-3131	230	30	3	3	NUM
fsr-3131	230	31	0	0	NUM
fsr-3131	230	32	.	.	NOUN
fsr-3131	231	1	09	09	NUM
fsr-3131	232	1	3	3	NUM
fsr-3131	232	2	m	m	NOUN
fsr-3131	232	3	ea	ea	NOUN
fsr-3131	232	4	n	n	ADV
fsr-3131	232	5	0	0	NUM
fsr-3131	232	6	.	.	PROPN
fsr-3131	232	7	01	01	NUM
fsr-3131	232	8	7	7	NUM
fsr-3131	232	9	0	0	NUM
fsr-3131	232	10	.	.	PUNCT
fsr-3131	232	11	02	02	NUM
fsr-3131	232	12	8	8	NUM
fsr-3131	232	13	0	0	NUM
fsr-3131	232	14	.	.	NOUN
fsr-3131	232	15	04	04	NUM
fsr-3131	232	16	3	3	NUM
fsr-3131	232	17	0	0	NUM
fsr-3131	232	18	.	.	PUNCT
fsr-3131	232	19	00	00	NUM
fsr-3131	232	20	3	3	NUM
fsr-3131	232	21	0	0	NUM
fsr-3131	232	22	.	.	PUNCT
fsr-3131	232	23	01	01	NUM
fsr-3131	232	24	2	2	NUM
fsr-3131	232	25	0	0	NUM
fsr-3131	232	26	.	.	PUNCT
fsr-3131	232	27	02	02	NUM
fsr-3131	232	28	6	6	NUM
fsr-3131	232	29	0	0	NUM
fsr-3131	232	30	.	.	PUNCT
fsr-3131	232	31	01	01	NUM
fsr-3131	232	32	6	6	NUM
fsr-3131	232	33	0	0	NUM
fsr-3131	232	34	.	.	PUNCT
fsr-3131	232	35	02	02	NUM
fsr-3131	232	36	7	7	NUM
fsr-3131	232	37	0	0	NUM
fsr-3131	232	38	.	.	PUNCT
fsr-3131	232	39	04	04	NUM
fsr-3131	232	40	2	2	NUM
fsr-3131	232	41	c	c	NOUN
fsr-3131	232	42	oe	oe	PROPN
fsr-3131	232	43	ffi	ffi	PROPN
fsr-3131	232	44	ci	ci	PROPN
fsr-3131	232	45	en	en	PROPN
fsr-3131	232	46	t	t	PROPN
fsr-3131	232	47	of	of	ADP
fsr-3131	232	48	va	va	PROPN
fsr-3131	232	49	ri	ri	PROPN
fsr-3131	232	50	at	at	ADP
fsr-3131	232	51	io	io	PROPN
fsr-3131	232	52	n	n	PRON
fsr-3131	232	53	5	5	NUM
fsr-3131	232	54	.	.	NOUN
fsr-3131	232	55	35	35	NUM
fsr-3131	232	56	2	2	NUM
fsr-3131	232	57	3	3	NUM
fsr-3131	232	58	.	.	NOUN
fsr-3131	232	59	35	35	NUM
fsr-3131	232	60	8	8	NUM
fsr-3131	232	61	2	2	NUM
fsr-3131	232	62	.	.	NUM
fsr-3131	232	63	17	17	NUM
fsr-3131	232	64	9	9	NUM
fsr-3131	232	65	32	32	NUM
fsr-3131	232	66	.5	.5	NUM
fsr-3131	232	67	36	36	NUM
fsr-3131	232	68	7	7	NUM
fsr-3131	232	69	.	.	X
fsr-3131	232	70	82	82	NUM
fsr-3131	232	71	3	3	NUM
fsr-3131	232	72	3	3	NUM
fsr-3131	232	73	.	.	NOUN
fsr-3131	233	1	60	60	NUM
fsr-3131	233	2	0	0	NUM
fsr-3131	233	3	5	5	NUM
fsr-3131	233	4	.	.	X
fsr-3131	233	5	74	74	NUM
fsr-3131	233	6	9	9	NUM
fsr-3131	233	7	3	3	NUM
fsr-3131	233	8	.	.	X
fsr-3131	233	9	51	51	NUM
fsr-3131	233	10	3	3	NUM
fsr-3131	233	11	2	2	NUM
fsr-3131	233	12	.	.	NUM
fsr-3131	233	13	24	24	NUM
fsr-3131	233	14	6	6	NUM
fsr-3131	233	15	l	l	NOUN
fsr-3131	233	16	ev	ev	X
fsr-3131	233	17	er	er	INTJ
fsr-3131	233	18	ag	ag	PROPN
fsr-3131	233	19	ed	ed	PROPN
fsr-3131	233	20	fu	fu	PROPN
fsr-3131	234	1	nd	nd	ADP
fsr-3131	234	2	(	(	PUNCT
fsr-3131	234	3	2	2	NUM
fsr-3131	234	4	�	�	PROPN
fsr-3131	234	5	)	)	PUNCT
fsr-3131	234	6	t	t	PROPN
fsr-3131	234	7	er	er	INTJ
fsr-3131	234	8	m	m	VERB
fsr-3131	234	9	in	in	ADP
fsr-3131	234	10	al	al	PROPN
fsr-3131	234	11	w	w	PROPN
fsr-3131	234	12	ea	ea	PROPN
fsr-3131	234	13	lt	lt	PROPN
fsr-3131	234	14	h	h	PROPN
fsr-3131	234	15	st	st	PROPN
fsr-3131	235	1	at	at	ADP
fsr-3131	235	2	is	be	AUX
fsr-3131	235	3	ti	ti	X
fsr-3131	235	4	cs	cs	PROPN
fsr-3131	235	5	s	s	PROPN
fsr-3131	235	6	ta	ta	PROPN
fsr-3131	235	7	nd	nd	INTJ
fsr-3131	235	8	ar	ar	PROPN
fsr-3131	235	9	d	d	PROPN
fsr-3131	235	10	de	de	X
fsr-3131	235	11	vi	vi	PROPN
fsr-3131	235	12	at	at	ADP
fsr-3131	235	13	io	io	PROPN
fsr-3131	235	14	n	n	ADV
fsr-3131	235	15	$	$	SYM
fsr-3131	235	16	77	77	NUM
fsr-3131	235	17	1	1	NUM
fsr-3131	235	18	$	$	SYM
fsr-3131	235	19	66	66	NUM
fsr-3131	235	20	0	0	NUM
fsr-3131	235	21	$	$	SYM
fsr-3131	235	22	54	54	NUM
fsr-3131	235	23	8	8	NUM
fsr-3131	235	24	$	$	SYM
fsr-3131	235	25	87	87	NUM
fsr-3131	235	26	7	7	NUM
fsr-3131	235	27	$	$	SYM
fsr-3131	235	28	77	77	NUM
fsr-3131	235	29	4	4	NUM
fsr-3131	235	30	$	$	SYM
fsr-3131	235	31	67	67	NUM
fsr-3131	235	32	1	1	NUM
fsr-3131	235	33	m	m	NOUN
fsr-3131	235	34	ea	ea	NOUN
fsr-3131	235	35	n	n	CCONJ
fsr-3131	235	36	$	$	SYM
fsr-3131	235	37	1	1	NUM
fsr-3131	235	38	,	,	PUNCT
fsr-3131	235	39	3	3	NUM
fsr-3131	235	40	32	32	NUM
fsr-3131	235	41	$	$	SYM
fsr-3131	235	42	1	1	NUM
fsr-3131	235	43	,	,	PUNCT
fsr-3131	235	44	3	3	NUM
fsr-3131	235	45	85	85	NUM
fsr-3131	235	46	$	$	SYM
fsr-3131	235	47	1	1	NUM
fsr-3131	235	48	,	,	PUNCT
fsr-3131	235	49	4	4	NUM
fsr-3131	235	50	39	39	NUM
fsr-3131	235	51	$	$	SYM
fsr-3131	235	52	1	1	NUM
fsr-3131	235	53	,	,	PUNCT
fsr-3131	235	54	3	3	NUM
fsr-3131	235	55	40	40	NUM
fsr-3131	235	56	$	$	SYM
fsr-3131	235	57	1	1	NUM
fsr-3131	235	58	,	,	PUNCT
fsr-3131	235	59	3	3	NUM
fsr-3131	235	60	87	87	NUM
fsr-3131	235	61	$	$	SYM
fsr-3131	235	62	1	1	NUM
fsr-3131	235	63	,	,	PUNCT
fsr-3131	235	64	4	4	NUM
fsr-3131	235	65	36	36	NUM
fsr-3131	235	66	c	c	NOUN
fsr-3131	235	67	oe	oe	PROPN
fsr-3131	235	68	ffi	ffi	PROPN
fsr-3131	235	69	ci	ci	PROPN
fsr-3131	235	70	en	en	PROPN
fsr-3131	235	71	t	t	PROPN
fsr-3131	235	72	of	of	ADP
fsr-3131	235	73	va	va	PROPN
fsr-3131	235	74	ri	ri	PROPN
fsr-3131	235	75	at	at	ADP
fsr-3131	235	76	io	io	PROPN
fsr-3131	235	77	n	n	PROPN
fsr-3131	235	78	0	0	NUM
fsr-3131	235	79	.	.	PUNCT
fsr-3131	236	1	57	57	NUM
fsr-3131	236	2	9	9	NUM
fsr-3131	236	3	0	0	NUM
fsr-3131	236	4	.	.	PUNCT
fsr-3131	237	1	47	47	NUM
fsr-3131	237	2	6	6	NUM
fsr-3131	237	3	0	0	NUM
fsr-3131	237	4	.	.	PUNCT
fsr-3131	238	1	38	38	NUM
fsr-3131	238	2	1	1	NUM
fsr-3131	238	3	0	0	NUM
fsr-3131	238	4	.	.	PUNCT
fsr-3131	239	1	65	65	NUM
fsr-3131	239	2	5	5	NUM
fsr-3131	239	3	0	0	NUM
fsr-3131	239	4	.	.	PUNCT
fsr-3131	240	1	55	55	NUM
fsr-3131	240	2	8	8	NUM
fsr-3131	240	3	0	0	NUM
fsr-3131	240	4	.	.	PUNCT
fsr-3131	241	1	46	46	NUM
fsr-3131	241	2	7	7	NUM
fsr-3131	241	3	s	s	NOUN
fsr-3131	241	4	ha	ha	INTJ
fsr-3131	241	5	rp	rp	NOUN
fsr-3131	241	6	e	e	X
fsr-3131	241	7	ra	ra	PROPN
fsr-3131	241	8	ti	ti	PROPN
fsr-3131	241	9	o	o	PROPN
fsr-3131	241	10	st	st	PROPN
fsr-3131	241	11	at	at	ADP
fsr-3131	241	12	is	be	AUX
fsr-3131	241	13	ti	ti	X
fsr-3131	241	14	cs	cs	PROPN
fsr-3131	241	15	s	s	PROPN
fsr-3131	241	16	ta	ta	PROPN
fsr-3131	241	17	nd	nd	INTJ
fsr-3131	241	18	ar	ar	PROPN
fsr-3131	241	19	d	d	PROPN
fsr-3131	241	20	de	de	X
fsr-3131	241	21	vi	vi	PROPN
fsr-3131	241	22	at	at	ADP
fsr-3131	241	23	io	io	PROPN
fsr-3131	241	24	n	n	PROPN
fsr-3131	241	25	0	0	NUM
fsr-3131	241	26	.	.	PROPN
fsr-3131	242	1	09	09	NUM
fsr-3131	242	2	3	3	NUM
fsr-3131	242	3	0	0	NUM
fsr-3131	242	4	.	.	PUNCT
fsr-3131	242	5	09	09	NUM
fsr-3131	242	6	3	3	NUM
fsr-3131	242	7	0	0	NUM
fsr-3131	242	8	.	.	PUNCT
fsr-3131	242	9	09	09	NUM
fsr-3131	242	10	3	3	NUM
fsr-3131	242	11	0	0	NUM
fsr-3131	242	12	.	.	PUNCT
fsr-3131	242	13	09	09	NUM
fsr-3131	242	14	3	3	NUM
fsr-3131	242	15	0	0	NUM
fsr-3131	242	16	.	.	PUNCT
fsr-3131	242	17	09	09	NUM
fsr-3131	242	18	3	3	NUM
fsr-3131	242	19	0	0	NUM
fsr-3131	242	20	.	.	NOUN
fsr-3131	243	1	09	09	NUM
fsr-3131	244	1	3	3	NUM
fsr-3131	244	2	m	m	NOUN
fsr-3131	244	3	ea	ea	NOUN
fsr-3131	244	4	n	n	ADV
fsr-3131	244	5	0	0	NUM
fsr-3131	244	6	.	.	PROPN
fsr-3131	244	7	01	01	NUM
fsr-3131	244	8	7	7	NUM
fsr-3131	244	9	0	0	NUM
fsr-3131	244	10	.	.	PUNCT
fsr-3131	244	11	02	02	NUM
fsr-3131	244	12	7	7	NUM
fsr-3131	244	13	0	0	NUM
fsr-3131	244	14	.	.	PUNCT
fsr-3131	244	15	04	04	NUM
fsr-3131	244	16	2	2	NUM
fsr-3131	244	17	0	0	NUM
fsr-3131	244	18	.	.	NOUN
fsr-3131	244	19	01	01	NUM
fsr-3131	244	20	6	6	NUM
fsr-3131	244	21	0	0	NUM
fsr-3131	244	22	.	.	PUNCT
fsr-3131	244	23	02	02	NUM
fsr-3131	244	24	4	4	NUM
fsr-3131	244	25	0	0	NUM
fsr-3131	244	26	.	.	PUNCT
fsr-3131	244	27	03	03	NUM
fsr-3131	244	28	5	5	NUM
fsr-3131	244	29	c	c	NOUN
fsr-3131	244	30	oe	oe	PROPN
fsr-3131	244	31	ffi	ffi	PROPN
fsr-3131	244	32	ci	ci	PROPN
fsr-3131	244	33	en	en	PROPN
fsr-3131	244	34	t	t	PROPN
fsr-3131	244	35	of	of	ADP
fsr-3131	244	36	va	va	PROPN
fsr-3131	244	37	ri	ri	PROPN
fsr-3131	244	38	at	at	ADP
fsr-3131	244	39	io	io	PROPN
fsr-3131	244	40	n	n	PRON
fsr-3131	244	41	5	5	NUM
fsr-3131	244	42	.	.	NOUN
fsr-3131	244	43	49	49	NUM
fsr-3131	244	44	6	6	NUM
fsr-3131	244	45	3	3	NUM
fsr-3131	244	46	.	.	NOUN
fsr-3131	244	47	41	41	NUM
fsr-3131	244	48	8	8	NUM
fsr-3131	244	49	2	2	NUM
fsr-3131	244	50	.	.	NOUN
fsr-3131	244	51	20	20	NUM
fsr-3131	244	52	6	6	NUM
fsr-3131	244	53	5	5	NUM
fsr-3131	244	54	.	.	PUNCT
fsr-3131	244	55	77	77	NUM
fsr-3131	244	56	8	8	NUM
fsr-3131	244	57	3	3	NUM
fsr-3131	244	58	.	.	NUM
fsr-3131	244	59	87	87	NUM
fsr-3131	244	60	2	2	NUM
fsr-3131	244	61	2	2	NUM
fsr-3131	244	62	.	.	PUNCT
fsr-3131	244	63	68	68	NUM
fsr-3131	244	64	1	1	NUM
fsr-3131	244	65	n	n	PRON
fsr-3131	244	66	ot	ot	NOUN
fsr-3131	244	67	es	es	X
fsr-3131	244	68	.t	.t	PROPN
fsr-3131	245	1	hi	hi	INTJ
fsr-3131	245	2	s	s	VERB
fsr-3131	245	3	ta	ta	X
fsr-3131	245	4	bl	bl	PROPN
fsr-3131	245	5	e	e	NOUN
fsr-3131	246	1	sh	sh	PROPN
fsr-3131	246	2	ow	ow	PROPN
fsr-3131	246	3	s	s	PROPN
fsr-3131	246	4	ce	ce	PROPN
fsr-3131	246	5	nt	not	PART
fsr-3131	246	6	ra	ra	PROPN
fsr-3131	246	7	lt	lt	PROPN
fsr-3131	246	8	en	en	PROPN
fsr-3131	246	9	de	de	PROPN
fsr-3131	246	10	nc	nc	PROPN
fsr-3131	246	11	y	y	PROPN
fsr-3131	246	12	an	an	PROPN
fsr-3131	246	13	d	d	X
fsr-3131	246	14	di	di	NOUN
fsr-3131	246	15	sp	sp	ADP
fsr-3131	246	16	er	er	INTJ
fsr-3131	246	17	si	si	INTJ
fsr-3131	246	18	on	on	ADP
fsr-3131	246	19	of	of	ADP
fsr-3131	246	20	te	te	PROPN
fsr-3131	246	21	rm	rm	PROPN
fsr-3131	246	22	in	in	ADP
fsr-3131	246	23	al	al	PROPN
fsr-3131	246	24	w	w	PROPN
fsr-3131	246	25	ea	ea	PROPN
fsr-3131	246	26	lt	lt	PRON
fsr-3131	246	27	h	h	PROPN
fsr-3131	247	1	an	an	DET
fsr-3131	247	2	d	d	X
fsr-3131	247	3	s	s	X
fsr-3131	247	4	ha	ha	INTJ
fsr-3131	247	5	rp	rp	PROPN
fsr-3131	247	6	e	e	X
fsr-3131	247	7	ra	ra	NOUN
fsr-3131	247	8	ti	ti	INTJ
fsr-3131	248	1	os	os	INTJ
fsr-3131	249	1	fo	fo	INTJ
fsr-3131	249	2	r	r	NOUN
fsr-3131	249	3	ea	ea	NOUN
fsr-3131	249	4	ch	ch	NOUN
fsr-3131	249	5	of	of	ADP
fsr-3131	249	6	th	th	X
fsr-3131	249	7	e	e	X
fsr-3131	249	8	th	th	X
fsr-3131	249	9	re	re	ADP
fsr-3131	249	10	e	e	PROPN
fsr-3131	249	11	in	in	ADP
fsr-3131	249	12	ve	ve	PROPN
fsr-3131	249	13	st	st	PROPN
fsr-3131	249	14	or	or	CCONJ
fsr-3131	249	15	s	s	VERB
fsr-3131	249	16	i	i	X
fsr-3131	249	17	d	d	PROPN
fsr-3131	249	18	en	en	X
fsr-3131	249	19	ti	ti	PROPN
fsr-3131	249	20	fi	fi	NOUN
fsr-3131	249	21	ed	ed	NOUN
fsr-3131	249	22	.r	.r	NOUN
fsr-3131	249	23	es	es	X
fsr-3131	249	24	ul	ul	INTJ
fsr-3131	249	25	ts	ts	X
fsr-3131	249	26	w	w	PROPN
fsr-3131	249	27	er	er	INTJ
fsr-3131	249	28	e	e	X
fsr-3131	249	29	ob	ob	X
fsr-3131	249	30	ta	ta	PROPN
fsr-3131	249	31	in	in	ADP
fsr-3131	249	32	ed	ed	PROPN
fsr-3131	249	33	fr	fr	PROPN
fsr-3131	250	1	om	om	PROPN
fsr-3131	251	1	10	10	NUM
fsr-3131	251	2	0	0	NUM
fsr-3131	251	3	,	,	PUNCT
fsr-3131	251	4	00	00	NUM
fsr-3131	251	5	0	0	NUM
fsr-3131	252	1	tr	tr	PROPN
fsr-3131	252	2	ia	ia	PROPN
fsr-3131	252	3	ls	ls	PROPN
fsr-3131	252	4	,	,	PUNCT
fsr-3131	252	5	an	an	DET
fsr-3131	252	6	nu	nu	PROPN
fsr-3131	252	7	al	al	PROPN
fsr-3131	252	8	re	re	PROPN
fsr-3131	252	9	ba	ba	PROPN
fsr-3131	252	10	la	la	PROPN
fsr-3131	252	11	nc	nc	PROPN
fsr-3131	252	12	in	in	ADP
fsr-3131	252	13	g	g	PROPN
fsr-3131	252	14	,	,	PUNCT
fsr-3131	252	15	an	an	DET
fsr-3131	252	16	d	d	NOUN
fsr-3131	252	17	a	a	DET
fsr-3131	252	18	1	1	NUM
fsr-3131	252	19	%	%	NOUN
fsr-3131	252	20	an	an	DET
fsr-3131	252	21	nu	nu	PROPN
fsr-3131	252	22	al	al	PROPN
fsr-3131	252	23	fe	fe	X
fsr-3131	252	24	e	e	X
fsr-3131	252	25	(	(	PUNCT
fsr-3131	252	26	c	c	X
fsr-3131	252	27	ha	ha	INTJ
fsr-3131	252	28	rg	rg	PROPN
fsr-3131	252	29	ed	ed	NOUN
fsr-3131	252	30	m	m	VERB
fsr-3131	252	31	on	on	ADP
fsr-3131	252	32	th	th	INTJ
fsr-3131	252	33	ly	ly	NOUN
fsr-3131	252	34	)	)	PUNCT
fsr-3131	253	1	fo	fo	ADP
fsr-3131	253	2	r	r	NOUN
fsr-3131	253	3	th	th	X
fsr-3131	253	4	e	e	X
fsr-3131	253	5	si	si	X
fsr-3131	253	6	m	m	PROPN
fsr-3131	253	7	ul	ul	NOUN
fsr-3131	253	8	at	at	ADP
fsr-3131	253	9	ed	ed	PROPN
fsr-3131	253	10	in	in	ADP
fsr-3131	253	11	ve	ve	NOUN
fsr-3131	253	12	rs	rs	PROPN
fsr-3131	253	13	e	e	NOUN
fsr-3131	253	14	or	or	CCONJ
fsr-3131	253	15	le	le	X
fsr-3131	253	16	ve	ve	AUX
fsr-3131	253	17	re	re	VERB
fsr-3131	253	18	d	d	PROPN
fsr-3131	253	19	st	st	PROPN
fsr-3131	253	20	oc	oc	PROPN
fsr-3131	253	21	k	k	PROPN
fsr-3131	253	22	fu	fu	PROPN
fsr-3131	253	23	nd	nd	INTJ
fsr-3131	253	24	.	.	PUNCT
fsr-3131	254	1	134	134	NUM
fsr-3131	254	2	j.a	j.a	PROPN
fsr-3131	254	3	.	.	PROPN
fsr-3131	254	4	dilellio	dilellio	PROPN
fsr-3131	254	5	,	,	PUNCT
fsr-3131	254	6	r.	r.	PROPN
fsr-3131	254	7	hesse	hesse	PROPN
fsr-3131	254	8	,	,	PUNCT
fsr-3131	254	9	d.j	d.j	PROPN
fsr-3131	254	10	.	.	PROPN
fsr-3131	254	11	stanley	stanley	PROPN
fsr-3131	254	12	/	/	SYM
fsr-3131	254	13	financial	financial	ADJ
fsr-3131	254	14	services	service	NOUN
fsr-3131	254	15	review	review	VERB
fsr-3131	254	16	23	23	NUM
fsr-3131	254	17	(	(	PUNCT
fsr-3131	254	18	2014	2014	NUM
fsr-3131	254	19	)	)	PUNCT
fsr-3131	254	20	123–149	123–149	NUM
fsr-3131	254	21	t	t	NOUN
fsr-3131	254	22	ab	ab	X
fsr-3131	254	23	le	le	ADP
fsr-3131	254	24	5	5	PROPN
fsr-3131	254	25	s	s	NOUN
fsr-3131	254	26	ta	ta	X
fsr-3131	254	27	ti	ti	PROPN
fsr-3131	254	28	st	st	PROPN
fsr-3131	255	1	ic	ic	PROPN
fsr-3131	255	2	s	s	PROPN
fsr-3131	255	3	us	we	PRON
fsr-3131	255	4	in	in	ADP
fsr-3131	255	5	g	g	PROPN
fsr-3131	255	6	19	19	NUM
fsr-3131	255	7	91	91	NUM
fsr-3131	255	8	–	–	SYM
fsr-3131	255	9	2	2	NUM
fsr-3131	255	10	00	00	NUM
fsr-3131	255	11	0	0	NUM
fsr-3131	256	1	re	re	VERB
fsr-3131	256	2	tu	tu	PROPN
fsr-3131	256	3	rn	rn	PROPN
fsr-3131	256	4	di	di	PROPN
fsr-3131	256	5	st	st	PROPN
fsr-3131	256	6	ri	ri	PROPN
fsr-3131	256	7	bu	bu	PROPN
fsr-3131	256	8	ti	ti	PROPN
fsr-3131	256	9	on	on	ADP
fsr-3131	256	10	s	s	PRON
fsr-3131	256	11	fo	fo	INTJ
fsr-3131	256	12	r	r	NOUN
fsr-3131	256	13	si	si	NOUN
fsr-3131	256	14	m	m	NOUN
fsr-3131	256	15	ul	ul	PROPN
fsr-3131	256	16	at	at	ADP
fsr-3131	256	17	io	io	PROPN
fsr-3131	256	18	n	n	AUX
fsr-3131	256	19	sa	sa	PROPN
fsr-3131	256	20	m	m	AUX
fsr-3131	256	21	pl	pl	NOUN
fsr-3131	256	22	in	in	ADP
fsr-3131	256	23	g	g	PROPN
fsr-3131	256	24	t	t	PROPN
fsr-3131	256	25	ra	ra	PROPN
fsr-3131	256	26	di	di	X
fsr-3131	256	27	ti	ti	PROPN
fsr-3131	256	28	on	on	ADP
fsr-3131	256	29	al	al	PROPN
fsr-3131	256	30	al	al	PROPN
fsr-3131	256	31	lo	lo	PROPN
fsr-3131	256	32	ca	can	AUX
fsr-3131	256	33	ti	ti	PROPN
fsr-3131	256	34	on	on	ADP
fsr-3131	256	35	a	a	DET
fsr-3131	256	36	lt	lt	PRON
fsr-3131	256	37	er	er	INTJ
fsr-3131	256	38	na	na	INTJ
fsr-3131	256	39	ti	ti	PROPN
fsr-3131	256	40	ve	ve	VERB
fsr-3131	256	41	al	al	PROPN
fsr-3131	256	42	lo	lo	PROPN
fsr-3131	256	43	ca	can	AUX
fsr-3131	256	44	ti	ti	PROPN
fsr-3131	256	45	on	on	ADP
fsr-3131	256	46	w	w	ADP
fsr-3131	256	47	it	it	PRON
fsr-3131	256	48	h	h	NOUN
fsr-3131	256	49	in	in	ADP
fsr-3131	256	50	ve	ve	NOUN
fsr-3131	256	51	rs	rs	PROPN
fsr-3131	256	52	e	e	NOUN
fsr-3131	256	53	fu	fu	NOUN
fsr-3131	256	54	nd	nd	PRON
fsr-3131	256	55	a	a	DET
fsr-3131	256	56	lt	lt	INTJ
fsr-3131	256	57	er	er	INTJ
fsr-3131	256	58	na	na	INTJ
fsr-3131	256	59	ti	ti	PROPN
fsr-3131	256	60	ve	ve	VERB
fsr-3131	256	61	al	al	PROPN
fsr-3131	256	62	lo	lo	PROPN
fsr-3131	256	63	ca	can	AUX
fsr-3131	256	64	ti	ti	PROPN
fsr-3131	256	65	on	on	ADP
fsr-3131	256	66	w	w	ADP
fsr-3131	257	1	it	it	PRON
fsr-3131	258	1	h	h	NOUN
fsr-3131	258	2	ri	ri	INTJ
fsr-3131	258	3	sk	sk	INTJ
fsr-3131	259	1	-f	-f	PROPN
fsr-3131	259	2	re	re	ADP
fsr-3131	259	3	e	e	NOUN
fsr-3131	259	4	as	as	ADP
fsr-3131	259	5	se	se	PROPN
fsr-3131	259	6	t	t	PROPN
fsr-3131	259	7	25	25	NUM
fsr-3131	259	8	-y	-y	SYM
fsr-3131	259	9	ea	ea	PROPN
fsr-3131	259	10	r	r	NOUN
fsr-3131	259	11	ol	ol	PROPN
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fsr-3131	277	110	n	n	PROPN
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fsr-3131	277	112	.	.	PROPN
fsr-3131	278	1	39	39	NUM
fsr-3131	278	2	4	4	NUM
fsr-3131	278	3	0	0	NUM
fsr-3131	278	4	.	.	PUNCT
fsr-3131	279	1	33	33	NUM
fsr-3131	279	2	9	9	NUM
fsr-3131	279	3	0	0	NUM
fsr-3131	279	4	.	.	PUNCT
fsr-3131	280	1	28	28	NUM
fsr-3131	280	2	5	5	NUM
fsr-3131	280	3	0	0	NUM
fsr-3131	280	4	.	.	NOUN
fsr-3131	281	1	44	44	NUM
fsr-3131	281	2	9	9	NUM
fsr-3131	281	3	0	0	NUM
fsr-3131	281	4	.	.	PUNCT
fsr-3131	282	1	39	39	NUM
fsr-3131	282	2	9	9	NUM
fsr-3131	282	3	0	0	NUM
fsr-3131	282	4	.	.	NOUN
fsr-3131	283	1	35	35	NUM
fsr-3131	283	2	1	1	NUM
fsr-3131	283	3	s	s	VERB
fsr-3131	283	4	ha	ha	INTJ
fsr-3131	283	5	rp	rp	NOUN
fsr-3131	283	6	e	e	X
fsr-3131	283	7	ra	ra	PROPN
fsr-3131	283	8	ti	ti	PROPN
fsr-3131	283	9	o	o	PROPN
fsr-3131	283	10	st	st	PROPN
fsr-3131	284	1	at	at	ADP
fsr-3131	284	2	is	be	AUX
fsr-3131	284	3	ti	ti	X
fsr-3131	284	4	cs	cs	PROPN
fsr-3131	284	5	s	s	PROPN
fsr-3131	284	6	ta	ta	PROPN
fsr-3131	284	7	nd	nd	INTJ
fsr-3131	284	8	ar	ar	PROPN
fsr-3131	284	9	d	d	PROPN
fsr-3131	284	10	de	de	X
fsr-3131	284	11	vi	vi	PROPN
fsr-3131	284	12	at	at	ADP
fsr-3131	284	13	io	io	PROPN
fsr-3131	284	14	n	n	PROPN
fsr-3131	284	15	0	0	NUM
fsr-3131	284	16	.	.	PROPN
fsr-3131	285	1	09	09	NUM
fsr-3131	285	2	1	1	NUM
fsr-3131	285	3	0	0	NUM
fsr-3131	285	4	.	.	PUNCT
fsr-3131	285	5	09	09	NUM
fsr-3131	285	6	1	1	NUM
fsr-3131	285	7	0	0	NUM
fsr-3131	285	8	.	.	PUNCT
fsr-3131	285	9	09	09	NUM
fsr-3131	285	10	1	1	NUM
fsr-3131	285	11	0	0	NUM
fsr-3131	285	12	.	.	PUNCT
fsr-3131	285	13	09	09	NUM
fsr-3131	285	14	1	1	NUM
fsr-3131	285	15	0	0	NUM
fsr-3131	285	16	.	.	PUNCT
fsr-3131	285	17	09	09	NUM
fsr-3131	285	18	1	1	NUM
fsr-3131	285	19	0	0	NUM
fsr-3131	285	20	.	.	PUNCT
fsr-3131	286	1	09	09	NUM
fsr-3131	286	2	1	1	NUM
fsr-3131	286	3	m	m	NOUN
fsr-3131	286	4	ea	ea	NOUN
fsr-3131	286	5	n	n	ADV
fsr-3131	286	6	0	0	NUM
fsr-3131	286	7	.	.	PROPN
fsr-3131	286	8	27	27	NUM
fsr-3131	286	9	8	8	NUM
fsr-3131	286	10	0	0	NUM
fsr-3131	286	11	.	.	PUNCT
fsr-3131	286	12	28	28	NUM
fsr-3131	286	13	6	6	NUM
fsr-3131	286	14	0	0	NUM
fsr-3131	286	15	.	.	NOUN
fsr-3131	286	16	29	29	NUM
fsr-3131	286	17	4	4	NUM
fsr-3131	286	18	0	0	NUM
fsr-3131	286	19	.	.	PUNCT
fsr-3131	286	20	28	28	NUM
fsr-3131	286	21	3	3	NUM
fsr-3131	286	22	0	0	NUM
fsr-3131	286	23	.	.	NOUN
fsr-3131	286	24	29	29	NUM
fsr-3131	286	25	0	0	NUM
fsr-3131	286	26	0	0	NUM
fsr-3131	286	27	.	.	NOUN
fsr-3131	286	28	29	29	NUM
fsr-3131	286	29	7	7	NUM
fsr-3131	286	30	c	c	PROPN
fsr-3131	286	31	oe	oe	PROPN
fsr-3131	286	32	ffi	ffi	PROPN
fsr-3131	286	33	ci	ci	PROPN
fsr-3131	286	34	en	en	PROPN
fsr-3131	286	35	t	t	PROPN
fsr-3131	286	36	of	of	ADP
fsr-3131	286	37	va	va	PROPN
fsr-3131	286	38	ri	ri	PROPN
fsr-3131	286	39	at	at	ADP
fsr-3131	286	40	io	io	PROPN
fsr-3131	286	41	n	n	PROPN
fsr-3131	286	42	0	0	NUM
fsr-3131	286	43	.	.	PUNCT
fsr-3131	286	44	32	32	NUM
fsr-3131	286	45	8	8	NUM
fsr-3131	286	46	0	0	NUM
fsr-3131	286	47	.	.	PUNCT
fsr-3131	286	48	32	32	NUM
fsr-3131	286	49	0	0	NUM
fsr-3131	286	50	0	0	NUM
fsr-3131	286	51	.	.	PUNCT
fsr-3131	286	52	31	31	NUM
fsr-3131	286	53	1	1	NUM
fsr-3131	286	54	0	0	NUM
fsr-3131	286	55	.	.	PUNCT
fsr-3131	286	56	32	32	NUM
fsr-3131	286	57	2	2	NUM
fsr-3131	286	58	0	0	NUM
fsr-3131	286	59	.	.	PUNCT
fsr-3131	286	60	31	31	NUM
fsr-3131	286	61	4	4	NUM
fsr-3131	286	62	0	0	NUM
fsr-3131	286	63	.	.	NOUN
fsr-3131	286	64	30	30	NUM
fsr-3131	286	65	6	6	NUM
fsr-3131	286	66	n	n	NUM
fsr-3131	286	67	ot	ot	NOUN
fsr-3131	286	68	es	es	X
fsr-3131	286	69	.t	.t	PROPN
fsr-3131	287	1	hi	hi	INTJ
fsr-3131	287	2	s	s	VERB
fsr-3131	287	3	ta	ta	X
fsr-3131	287	4	bl	bl	PROPN
fsr-3131	287	5	e	e	NOUN
fsr-3131	288	1	sh	sh	PROPN
fsr-3131	288	2	ow	ow	PROPN
fsr-3131	288	3	s	s	PROPN
fsr-3131	288	4	ce	ce	PROPN
fsr-3131	288	5	nt	not	PART
fsr-3131	288	6	ra	ra	PROPN
fsr-3131	288	7	lt	lt	PROPN
fsr-3131	288	8	en	en	PROPN
fsr-3131	288	9	de	de	PROPN
fsr-3131	288	10	nc	nc	PROPN
fsr-3131	288	11	y	y	PROPN
fsr-3131	288	12	an	an	PROPN
fsr-3131	288	13	d	d	X
fsr-3131	288	14	di	di	NOUN
fsr-3131	288	15	sp	sp	ADP
fsr-3131	288	16	er	er	INTJ
fsr-3131	288	17	si	si	INTJ
fsr-3131	288	18	on	on	ADP
fsr-3131	288	19	of	of	ADP
fsr-3131	288	20	te	te	PROPN
fsr-3131	288	21	rm	rm	PROPN
fsr-3131	288	22	in	in	ADP
fsr-3131	288	23	al	al	PROPN
fsr-3131	288	24	w	w	PROPN
fsr-3131	288	25	ea	ea	PROPN
fsr-3131	288	26	lt	lt	PRON
fsr-3131	288	27	h	h	PROPN
fsr-3131	289	1	an	an	DET
fsr-3131	289	2	d	d	X
fsr-3131	289	3	s	s	X
fsr-3131	289	4	ha	ha	INTJ
fsr-3131	289	5	rp	rp	PROPN
fsr-3131	289	6	e	e	X
fsr-3131	289	7	ra	ra	NOUN
fsr-3131	289	8	ti	ti	INTJ
fsr-3131	290	1	os	os	INTJ
fsr-3131	291	1	fo	fo	INTJ
fsr-3131	291	2	r	r	NOUN
fsr-3131	291	3	ea	ea	NOUN
fsr-3131	291	4	ch	ch	NOUN
fsr-3131	291	5	of	of	ADP
fsr-3131	291	6	th	th	X
fsr-3131	291	7	e	e	X
fsr-3131	291	8	th	th	X
fsr-3131	291	9	re	re	ADP
fsr-3131	291	10	e	e	PROPN
fsr-3131	291	11	in	in	ADP
fsr-3131	291	12	ve	ve	PROPN
fsr-3131	291	13	st	st	PROPN
fsr-3131	291	14	or	or	CCONJ
fsr-3131	291	15	s	s	VERB
fsr-3131	291	16	i	i	X
fsr-3131	291	17	d	d	PROPN
fsr-3131	291	18	en	en	X
fsr-3131	291	19	ti	ti	PROPN
fsr-3131	291	20	fi	fi	NOUN
fsr-3131	291	21	ed	ed	NOUN
fsr-3131	291	22	.r	.r	NOUN
fsr-3131	291	23	es	es	X
fsr-3131	291	24	ul	ul	INTJ
fsr-3131	291	25	ts	ts	X
fsr-3131	291	26	w	w	PROPN
fsr-3131	291	27	er	er	INTJ
fsr-3131	291	28	e	e	X
fsr-3131	291	29	ob	ob	X
fsr-3131	291	30	ta	ta	PROPN
fsr-3131	291	31	in	in	ADP
fsr-3131	291	32	ed	ed	PROPN
fsr-3131	291	33	fr	fr	PROPN
fsr-3131	292	1	om	om	PROPN
fsr-3131	293	1	10	10	NUM
fsr-3131	293	2	0	0	NUM
fsr-3131	293	3	,	,	PUNCT
fsr-3131	293	4	00	00	NUM
fsr-3131	293	5	0	0	NUM
fsr-3131	294	1	tr	tr	PROPN
fsr-3131	294	2	ia	ia	PROPN
fsr-3131	294	3	ls	ls	PROPN
fsr-3131	294	4	,	,	PUNCT
fsr-3131	294	5	an	an	DET
fsr-3131	294	6	nu	nu	PROPN
fsr-3131	294	7	al	al	PROPN
fsr-3131	294	8	re	re	PROPN
fsr-3131	294	9	ba	ba	PROPN
fsr-3131	294	10	la	la	PROPN
fsr-3131	294	11	nc	nc	PROPN
fsr-3131	294	12	in	in	ADP
fsr-3131	294	13	g	g	PROPN
fsr-3131	294	14	,	,	PUNCT
fsr-3131	294	15	an	an	DET
fsr-3131	294	16	d	d	NOUN
fsr-3131	294	17	a	a	DET
fsr-3131	294	18	1	1	NUM
fsr-3131	294	19	%	%	NOUN
fsr-3131	294	20	an	an	DET
fsr-3131	294	21	nu	nu	PROPN
fsr-3131	294	22	al	al	PROPN
fsr-3131	294	23	fe	fe	X
fsr-3131	294	24	e	e	X
fsr-3131	294	25	(	(	PUNCT
fsr-3131	294	26	c	c	X
fsr-3131	294	27	ha	ha	INTJ
fsr-3131	294	28	rg	rg	PROPN
fsr-3131	294	29	ed	ed	NOUN
fsr-3131	294	30	m	m	VERB
fsr-3131	294	31	on	on	ADP
fsr-3131	294	32	th	th	INTJ
fsr-3131	294	33	ly	ly	NOUN
fsr-3131	294	34	)	)	PUNCT
fsr-3131	295	1	fo	fo	ADP
fsr-3131	295	2	r	r	NOUN
fsr-3131	295	3	th	th	X
fsr-3131	295	4	e	e	X
fsr-3131	295	5	si	si	X
fsr-3131	295	6	m	m	PROPN
fsr-3131	295	7	ul	ul	NOUN
fsr-3131	295	8	at	at	ADP
fsr-3131	295	9	ed	ed	PROPN
fsr-3131	295	10	in	in	ADP
fsr-3131	295	11	ve	ve	NOUN
fsr-3131	295	12	rs	rs	PROPN
fsr-3131	295	13	e	e	NOUN
fsr-3131	295	14	or	or	CCONJ
fsr-3131	295	15	le	le	X
fsr-3131	295	16	ve	ve	AUX
fsr-3131	295	17	re	re	VERB
fsr-3131	295	18	d	d	PROPN
fsr-3131	295	19	st	st	PROPN
fsr-3131	295	20	oc	oc	PROPN
fsr-3131	295	21	k	k	PROPN
fsr-3131	295	22	fu	fu	PROPN
fsr-3131	295	23	nd	nd	INTJ
fsr-3131	295	24	.	.	PUNCT
fsr-3131	296	1	135j.a	135j.a	NUM
fsr-3131	296	2	.	.	PUNCT
fsr-3131	297	1	dilellio	dilellio	PROPN
fsr-3131	297	2	,	,	PUNCT
fsr-3131	297	3	r.	r.	PROPN
fsr-3131	297	4	hesse	hesse	PROPN
fsr-3131	297	5	,	,	PUNCT
fsr-3131	297	6	d.j	d.j	PROPN
fsr-3131	297	7	.	.	PROPN
fsr-3131	297	8	stanley	stanley	PROPN
fsr-3131	297	9	/	/	SYM
fsr-3131	297	10	financial	financial	ADJ
fsr-3131	297	11	services	service	NOUN
fsr-3131	297	12	review	review	VERB
fsr-3131	297	13	23	23	NUM
fsr-3131	297	14	(	(	PUNCT
fsr-3131	297	15	2014	2014	NUM
fsr-3131	297	16	)	)	PUNCT
fsr-3131	297	17	123–149	123–149	NUM
fsr-3131	297	18	line	line	NOUN
fsr-3131	297	19	,	,	PUNCT
fsr-3131	297	20	the	the	DET
fsr-3131	297	21	use	use	NOUN
fsr-3131	297	22	of	of	ADP
fsr-3131	297	23	the	the	DET
fsr-3131	297	24	risk	risk	NOUN
fsr-3131	297	25	-	-	PUNCT
fsr-3131	297	26	free	free	ADJ
fsr-3131	297	27	asset	asset	NOUN
fsr-3131	297	28	in	in	ADP
fsr-3131	297	29	the	the	DET
fsr-3131	297	30	alternative	alternative	ADJ
fsr-3131	297	31	allocation	allocation	NOUN
fsr-3131	297	32	has	have	VERB
fsr-3131	297	33	no	no	DET
fsr-3131	297	34	effect	effect	NOUN
fsr-3131	297	35	on	on	ADP
fsr-3131	297	36	the	the	DET
fsr-3131	297	37	sharpe	sharpe	PROPN
fsr-3131	297	38	ratio	ratio	PROPN
fsr-3131	297	39	mean	mean	NOUN
fsr-3131	297	40	or	or	CCONJ
fsr-3131	297	41	standard	standard	ADJ
fsr-3131	297	42	deviation.6	deviation.6	NOUN
fsr-3131	297	43	as	as	SCONJ
fsr-3131	297	44	shown	show	VERB
fsr-3131	297	45	in	in	ADP
fsr-3131	297	46	the	the	DET
fsr-3131	297	47	lower	low	ADJ
fsr-3131	297	48	panel	panel	NOUN
fsr-3131	297	49	of	of	ADP
fsr-3131	297	50	table	table	NOUN
fsr-3131	297	51	4	4	NUM
fsr-3131	297	52	,	,	PUNCT
fsr-3131	297	53	there	there	PRON
fsr-3131	297	54	is	be	VERB
fsr-3131	297	55	no	no	DET
fsr-3131	297	56	diversification	diversification	NOUN
fsr-3131	297	57	benefit	benefit	NOUN
fsr-3131	297	58	from	from	ADP
fsr-3131	297	59	using	use	VERB
fsr-3131	297	60	a	a	DET
fsr-3131	297	61	leveraged	leverage	VERB
fsr-3131	297	62	stock	stock	NOUN
fsr-3131	297	63	fund	fund	NOUN
fsr-3131	297	64	.	.	PUNCT
fsr-3131	298	1	here	here	ADV
fsr-3131	298	2	,	,	PUNCT
fsr-3131	298	3	we	we	PRON
fsr-3131	298	4	reran	rerun	VERB
fsr-3131	298	5	the	the	DET
fsr-3131	298	6	100,000	100,000	NUM
fsr-3131	298	7	trials	trial	NOUN
fsr-3131	298	8	in	in	ADP
fsr-3131	298	9	our	our	PRON
fsr-3131	298	10	simulation	simulation	NOUN
fsr-3131	298	11	,	,	PUNCT
fsr-3131	298	12	which	which	PRON
fsr-3131	298	13	produced	produce	VERB
fsr-3131	298	14	a	a	DET
fsr-3131	298	15	small	small	ADJ
fsr-3131	298	16	differences	difference	NOUN
fsr-3131	298	17	in	in	ADP
fsr-3131	298	18	the	the	DET
fsr-3131	298	19	fourth	fourth	ADJ
fsr-3131	298	20	significant	significant	ADJ
fsr-3131	298	21	digit	digit	NOUN
fsr-3131	298	22	,	,	PUNCT
fsr-3131	298	23	between	between	ADP
fsr-3131	298	24	the	the	DET
fsr-3131	298	25	lower	low	ADJ
fsr-3131	298	26	and	and	CCONJ
fsr-3131	298	27	upper	upper	ADJ
fsr-3131	298	28	panels	panel	NOUN
fsr-3131	298	29	for	for	ADP
fsr-3131	298	30	the	the	DET
fsr-3131	298	31	“	"	PUNCT
fsr-3131	298	32	traditional	traditional	ADJ
fsr-3131	298	33	allocation	allocation	NOUN
fsr-3131	298	34	.	.	PUNCT
fsr-3131	298	35	”	"	PUNCT
fsr-3131	299	1	in	in	ADP
fsr-3131	299	2	all	all	DET
fsr-3131	299	3	cases	case	NOUN
fsr-3131	299	4	,	,	PUNCT
fsr-3131	299	5	the	the	DET
fsr-3131	299	6	cv	cv	PROPN
fsr-3131	299	7	-	-	PUNCT
fsr-3131	299	8	tw	tw	PROPN
fsr-3131	299	9	and	and	CCONJ
fsr-3131	299	10	cv	cv	PROPN
fsr-3131	299	11	-	-	PUNCT
fsr-3131	299	12	s	s	PART
fsr-3131	299	13	increase	increase	NOUN
fsr-3131	299	14	when	when	SCONJ
fsr-3131	299	15	the	the	DET
fsr-3131	299	16	leveraged	leverage	VERB
fsr-3131	299	17	stock	stock	NOUN
fsr-3131	299	18	fund	fund	NOUN
fsr-3131	299	19	is	be	AUX
fsr-3131	299	20	included	include	VERB
fsr-3131	299	21	as	as	ADP
fsr-3131	299	22	the	the	DET
fsr-3131	299	23	alternative	alternative	ADJ
fsr-3131	299	24	asset	asset	NOUN
fsr-3131	299	25	.	.	PUNCT
fsr-3131	300	1	this	this	DET
fsr-3131	300	2	result	result	NOUN
fsr-3131	300	3	is	be	AUX
fsr-3131	300	4	not	not	PART
fsr-3131	300	5	surprising	surprising	ADJ
fsr-3131	300	6	,	,	PUNCT
fsr-3131	300	7	because	because	SCONJ
fsr-3131	300	8	this	this	DET
fsr-3131	300	9	time	time	NOUN
fsr-3131	300	10	period	period	NOUN
fsr-3131	300	11	sampled	sample	VERB
fsr-3131	300	12	(	(	PUNCT
fsr-3131	300	13	2001–2010	2001–2010	NUM
fsr-3131	300	14	)	)	PUNCT
fsr-3131	300	15	did	do	AUX
fsr-3131	300	16	not	not	PART
fsr-3131	300	17	have	have	VERB
fsr-3131	300	18	rising	rise	VERB
fsr-3131	300	19	equity	equity	NOUN
fsr-3131	300	20	prices	price	NOUN
fsr-3131	300	21	.	.	PUNCT
fsr-3131	301	1	for	for	ADP
fsr-3131	301	2	completeness	completeness	NOUN
fsr-3131	301	3	,	,	PUNCT
fsr-3131	301	4	we	we	PRON
fsr-3131	301	5	also	also	ADV
fsr-3131	301	6	tested	test	VERB
fsr-3131	301	7	levels	level	NOUN
fsr-3131	301	8	of	of	ADP
fsr-3131	301	9	statistical	statistical	ADJ
fsr-3131	301	10	significance	significance	NOUN
fsr-3131	301	11	between	between	ADP
fsr-3131	301	12	the	the	DET
fsr-3131	301	13	top	top	ADJ
fsr-3131	301	14	and	and	CCONJ
fsr-3131	301	15	bottom	bottom	ADJ
fsr-3131	301	16	panels	panel	NOUN
fsr-3131	301	17	in	in	ADP
fsr-3131	301	18	table	table	NOUN
fsr-3131	301	19	4	4	NUM
fsr-3131	301	20	using	use	VERB
fsr-3131	301	21	the	the	DET
fsr-3131	301	22	confidence	confidence	NOUN
fsr-3131	301	23	intervals	interval	NOUN
fsr-3131	301	24	estimated	estimate	VERB
fsr-3131	301	25	above	above	ADV
fsr-3131	301	26	.	.	PUNCT
fsr-3131	302	1	recalling	recall	VERB
fsr-3131	302	2	our	our	PRON
fsr-3131	302	3	99	99	NUM
fsr-3131	302	4	%	%	NOUN
fsr-3131	302	5	confidence	confidence	NOUN
fsr-3131	302	6	intervals	interval	NOUN
fsr-3131	302	7	cited	cite	VERB
fsr-3131	302	8	previously	previously	ADV
fsr-3131	302	9	for	for	ADP
fsr-3131	302	10	the	the	DET
fsr-3131	302	11	traditional	traditional	ADJ
fsr-3131	302	12	allocation	allocation	NOUN
fsr-3131	302	13	,	,	PUNCT
fsr-3131	302	14	we	we	PRON
fsr-3131	302	15	note	note	VERB
fsr-3131	302	16	that	that	SCONJ
fsr-3131	302	17	the	the	DET
fsr-3131	302	18	cv	cv	PROPN
fsr-3131	302	19	-	-	PUNCT
fsr-3131	302	20	tw	tw	PROPN
fsr-3131	302	21	and	and	CCONJ
fsr-3131	302	22	cv	cv	PROPN
fsr-3131	302	23	-	-	PUNCT
fsr-3131	302	24	s	s	PROPN
fsr-3131	302	25	in	in	ADP
fsr-3131	302	26	the	the	DET
fsr-3131	302	27	bottom	bottom	ADJ
fsr-3131	302	28	panel	panel	NOUN
fsr-3131	302	29	labeled	label	VERB
fsr-3131	302	30	“	"	PUNCT
fsr-3131	302	31	traditional	traditional	ADJ
fsr-3131	302	32	allocation	allocation	NOUN
fsr-3131	302	33	”	"	PUNCT
fsr-3131	302	34	all	all	DET
fsr-3131	302	35	fall	fall	VERB
fsr-3131	302	36	within	within	ADP
fsr-3131	302	37	these	these	DET
fsr-3131	302	38	intervals	interval	NOUN
fsr-3131	302	39	,	,	PUNCT
fsr-3131	302	40	which	which	PRON
fsr-3131	302	41	is	be	AUX
fsr-3131	302	42	expected	expect	VERB
fsr-3131	302	43	since	since	SCONJ
fsr-3131	302	44	it	it	PRON
fsr-3131	302	45	represents	represent	VERB
fsr-3131	302	46	simply	simply	ADV
fsr-3131	302	47	another	another	DET
fsr-3131	302	48	random	random	ADJ
fsr-3131	302	49	draw	draw	NOUN
fsr-3131	302	50	of	of	ADP
fsr-3131	302	51	100,000	100,000	NUM
fsr-3131	302	52	trials	trial	NOUN
fsr-3131	302	53	in	in	ADP
fsr-3131	302	54	the	the	DET
fsr-3131	302	55	simulation	simulation	NOUN
fsr-3131	302	56	.	.	PUNCT
fsr-3131	303	1	the	the	DET
fsr-3131	303	2	results	result	NOUN
fsr-3131	303	3	so	so	ADV
fsr-3131	303	4	far	far	ADV
fsr-3131	303	5	have	have	AUX
fsr-3131	303	6	suggested	suggest	VERB
fsr-3131	303	7	that	that	SCONJ
fsr-3131	303	8	the	the	DET
fsr-3131	303	9	inverse	inverse	NOUN
fsr-3131	303	10	stock	stock	NOUN
fsr-3131	303	11	fund	fund	NOUN
fsr-3131	303	12	may	may	AUX
fsr-3131	303	13	be	be	AUX
fsr-3131	303	14	a	a	DET
fsr-3131	303	15	useful	useful	ADJ
fsr-3131	303	16	addition	addition	NOUN
fsr-3131	303	17	to	to	ADP
fsr-3131	303	18	a	a	DET
fsr-3131	303	19	diversified	diversified	ADJ
fsr-3131	303	20	portfolio	portfolio	NOUN
fsr-3131	303	21	of	of	ADP
fsr-3131	303	22	stocks	stock	NOUN
fsr-3131	303	23	and	and	CCONJ
fsr-3131	303	24	bonds	bond	NOUN
fsr-3131	303	25	,	,	PUNCT
fsr-3131	303	26	because	because	SCONJ
fsr-3131	303	27	the	the	DET
fsr-3131	303	28	cv	cv	PROPN
fsr-3131	303	29	-	-	PUNCT
fsr-3131	303	30	tw	tw	PROPN
fsr-3131	303	31	was	be	AUX
fsr-3131	303	32	consistently	consistently	ADV
fsr-3131	303	33	reduced	reduce	VERB
fsr-3131	303	34	,	,	PUNCT
fsr-3131	303	35	to	to	ADP
fsr-3131	303	36	varying	vary	VERB
fsr-3131	303	37	degrees	degree	NOUN
fsr-3131	303	38	.	.	PUNCT
fsr-3131	304	1	this	this	DET
fsr-3131	304	2	benefit	benefit	NOUN
fsr-3131	304	3	always	always	ADV
fsr-3131	304	4	exceeded	exceed	VERB
fsr-3131	304	5	the	the	DET
fsr-3131	304	6	benefit	benefit	NOUN
fsr-3131	304	7	an	an	DET
fsr-3131	304	8	investor	investor	NOUN
fsr-3131	304	9	could	could	AUX
fsr-3131	304	10	realize	realize	VERB
fsr-3131	304	11	if	if	SCONJ
fsr-3131	304	12	a	a	DET
fsr-3131	304	13	similar	similar	ADJ
fsr-3131	304	14	allocation	allocation	NOUN
fsr-3131	304	15	was	be	AUX
fsr-3131	304	16	made	make	VERB
fsr-3131	304	17	to	to	ADP
fsr-3131	304	18	a	a	DET
fsr-3131	304	19	risk	risk	NOUN
fsr-3131	304	20	-	-	PUNCT
fsr-3131	304	21	free	free	ADJ
fsr-3131	304	22	asset	asset	NOUN
fsr-3131	304	23	.	.	PUNCT
fsr-3131	305	1	however	however	ADV
fsr-3131	305	2	,	,	PUNCT
fsr-3131	305	3	one	one	PRON
fsr-3131	305	4	may	may	AUX
fsr-3131	305	5	argue	argue	VERB
fsr-3131	305	6	the	the	DET
fsr-3131	305	7	contrary	contrary	NOUN
fsr-3131	305	8	if	if	SCONJ
fsr-3131	305	9	attention	attention	NOUN
fsr-3131	305	10	is	be	AUX
fsr-3131	305	11	solely	solely	ADV
fsr-3131	305	12	given	give	VERB
fsr-3131	305	13	to	to	ADP
fsr-3131	305	14	the	the	DET
fsr-3131	305	15	sharpe	sharpe	PROPN
fsr-3131	305	16	ratio	ratio	NOUN
fsr-3131	305	17	statistics.7	statistics.7	NOUN
fsr-3131	305	18	additionally	additionally	ADV
fsr-3131	305	19	,	,	PUNCT
fsr-3131	305	20	the	the	DET
fsr-3131	305	21	use	use	NOUN
fsr-3131	305	22	of	of	ADP
fsr-3131	305	23	the	the	DET
fsr-3131	305	24	leveraged	leverage	VERB
fsr-3131	305	25	stock	stock	NOUN
fsr-3131	305	26	in	in	ADP
fsr-3131	305	27	the	the	DET
fsr-3131	305	28	alternative	alternative	ADJ
fsr-3131	305	29	allocation	allocation	NOUN
fsr-3131	305	30	does	do	AUX
fsr-3131	305	31	not	not	PART
fsr-3131	305	32	improve	improve	VERB
fsr-3131	305	33	diversification	diversification	NOUN
fsr-3131	305	34	in	in	ADP
fsr-3131	305	35	this	this	DET
fsr-3131	305	36	“	"	PUNCT
fsr-3131	305	37	flat	flat	ADJ
fsr-3131	305	38	”	"	PUNCT
fsr-3131	305	39	equity	equity	NOUN
fsr-3131	305	40	case	case	NOUN
fsr-3131	305	41	from	from	ADP
fsr-3131	305	42	2001	2001	NUM
fsr-3131	305	43	to	to	ADP
fsr-3131	305	44	2010	2010	NUM
fsr-3131	305	45	.	.	PUNCT
fsr-3131	306	1	table	table	NOUN
fsr-3131	306	2	5	5	NUM
fsr-3131	306	3	provides	provide	VERB
fsr-3131	306	4	the	the	DET
fsr-3131	306	5	alternative	alternative	ADJ
fsr-3131	306	6	perspective	perspective	NOUN
fsr-3131	306	7	on	on	ADP
fsr-3131	306	8	inverse	inverse	NOUN
fsr-3131	306	9	and	and	CCONJ
fsr-3131	306	10	leveraged	leverage	VERB
fsr-3131	306	11	stock	stock	NOUN
fsr-3131	306	12	funds	fund	NOUN
fsr-3131	306	13	as	as	ADP
fsr-3131	306	14	an	an	DET
fsr-3131	306	15	alternative	alternative	ADJ
fsr-3131	306	16	investment	investment	NOUN
fsr-3131	306	17	in	in	ADP
fsr-3131	306	18	“	"	PUNCT
fsr-3131	306	19	rising	rise	VERB
fsr-3131	306	20	”	"	PUNCT
fsr-3131	306	21	equity	equity	NOUN
fsr-3131	306	22	markets	market	NOUN
fsr-3131	306	23	,	,	PUNCT
fsr-3131	306	24	such	such	ADJ
fsr-3131	306	25	as	as	ADP
fsr-3131	306	26	those	those	PRON
fsr-3131	306	27	seen	see	VERB
fsr-3131	306	28	that	that	SCONJ
fsr-3131	306	29	in	in	ADP
fsr-3131	306	30	the	the	DET
fsr-3131	306	31	period	period	NOUN
fsr-3131	306	32	from	from	ADP
fsr-3131	306	33	1991	1991	NUM
fsr-3131	306	34	to	to	ADP
fsr-3131	306	35	2000	2000	NUM
fsr-3131	306	36	.	.	PUNCT
fsr-3131	307	1	intuitively	intuitively	ADV
fsr-3131	307	2	,	,	PUNCT
fsr-3131	307	3	one	one	PRON
fsr-3131	307	4	may	may	AUX
fsr-3131	307	5	suspect	suspect	VERB
fsr-3131	307	6	that	that	SCONJ
fsr-3131	307	7	the	the	DET
fsr-3131	307	8	use	use	NOUN
fsr-3131	307	9	of	of	ADP
fsr-3131	307	10	an	an	DET
fsr-3131	307	11	inverse	inverse	NOUN
fsr-3131	307	12	stock	stock	NOUN
fsr-3131	307	13	fund	fund	NOUN
fsr-3131	307	14	in	in	ADP
fsr-3131	307	15	rising	rise	VERB
fsr-3131	307	16	equity	equity	NOUN
fsr-3131	307	17	markets	market	NOUN
fsr-3131	307	18	should	should	AUX
fsr-3131	307	19	be	be	AUX
fsr-3131	307	20	avoided	avoid	VERB
fsr-3131	307	21	.	.	PUNCT
fsr-3131	308	1	indeed	indeed	ADV
fsr-3131	308	2	,	,	PUNCT
fsr-3131	308	3	the	the	DET
fsr-3131	308	4	upper	upper	ADJ
fsr-3131	308	5	panel	panel	NOUN
fsr-3131	308	6	of	of	ADP
fsr-3131	308	7	table	table	NOUN
fsr-3131	308	8	5	5	NUM
fsr-3131	308	9	in	in	ADP
fsr-3131	308	10	the	the	DET
fsr-3131	308	11	row	row	NOUN
fsr-3131	308	12	labeled	label	VERB
fsr-3131	308	13	“	"	PUNCT
fsr-3131	308	14	terminal	terminal	ADJ
fsr-3131	308	15	wealth	wealth	NOUN
fsr-3131	308	16	statistics	statistic	NOUN
fsr-3131	308	17	”	"	PUNCT
fsr-3131	308	18	shows	show	VERB
fsr-3131	308	19	that	that	SCONJ
fsr-3131	308	20	the	the	DET
fsr-3131	308	21	mean	mean	ADJ
fsr-3131	308	22	terminal	terminal	ADJ
fsr-3131	308	23	wealth	wealth	NOUN
fsr-3131	308	24	is	be	AUX
fsr-3131	308	25	significantly	significantly	ADV
fsr-3131	308	26	reduced	reduce	VERB
fsr-3131	308	27	,	,	PUNCT
fsr-3131	308	28	but	but	CCONJ
fsr-3131	308	29	so	so	ADV
fsr-3131	308	30	is	be	AUX
fsr-3131	308	31	the	the	DET
fsr-3131	308	32	standard	standard	ADJ
fsr-3131	308	33	deviation	deviation	NOUN
fsr-3131	308	34	.	.	PUNCT
fsr-3131	309	1	in	in	ADP
fsr-3131	309	2	fact	fact	NOUN
fsr-3131	309	3	,	,	PUNCT
fsr-3131	309	4	the	the	DET
fsr-3131	309	5	cv	cv	PROPN
fsr-3131	309	6	-	-	PUNCT
fsr-3131	309	7	tw	tw	PROPN
fsr-3131	309	8	is	be	AUX
fsr-3131	309	9	still	still	ADV
fsr-3131	309	10	significantly	significantly	ADV
fsr-3131	309	11	reduced	reduce	VERB
fsr-3131	309	12	,	,	PUNCT
fsr-3131	309	13	but	but	CCONJ
fsr-3131	309	14	to	to	ADP
fsr-3131	309	15	less	less	ADJ
fsr-3131	309	16	of	of	ADP
fsr-3131	309	17	a	a	DET
fsr-3131	309	18	degree	degree	NOUN
fsr-3131	309	19	then	then	ADV
fsr-3131	309	20	what	what	PRON
fsr-3131	309	21	was	be	AUX
fsr-3131	309	22	seen	see	VERB
fsr-3131	309	23	in	in	ADP
fsr-3131	309	24	table	table	NOUN
fsr-3131	309	25	4	4	NUM
fsr-3131	309	26	.	.	PUNCT
fsr-3131	310	1	these	these	DET
fsr-3131	310	2	reduced	reduce	VERB
fsr-3131	310	3	values	value	NOUN
fsr-3131	310	4	all	all	PRON
fsr-3131	310	5	fall	fall	VERB
fsr-3131	310	6	below	below	ADP
fsr-3131	310	7	the	the	DET
fsr-3131	310	8	99.9	99.9	NUM
fsr-3131	310	9	%	%	NOUN
fsr-3131	310	10	confidence	confidence	NOUN
fsr-3131	310	11	intervals	interval	NOUN
fsr-3131	310	12	for	for	ADP
fsr-3131	310	13	cv	cv	PROPN
fsr-3131	310	14	-	-	PUNCT
fsr-3131	310	15	tw	tw	NOUN
fsr-3131	310	16	in	in	ADP
fsr-3131	310	17	table	table	NOUN
fsr-3131	310	18	5	5	NUM
fsr-3131	310	19	,	,	PUNCT
fsr-3131	310	20	which	which	PRON
fsr-3131	310	21	are	be	AUX
fsr-3131	310	22	[	[	X
fsr-3131	310	23	0.393	0.393	NUM
fsr-3131	310	24	,	,	PUNCT
fsr-3131	310	25	0.396	0.396	NUM
fsr-3131	310	26	]	]	PUNCT
fsr-3131	310	27	,	,	PUNCT
fsr-3131	310	28	[	[	X
fsr-3131	310	29	0.338	0.338	NUM
fsr-3131	310	30	,	,	PUNCT
fsr-3131	310	31	0.340	0.340	NUM
fsr-3131	310	32	]	]	PUNCT
fsr-3131	310	33	,	,	PUNCT
fsr-3131	310	34	and	and	CCONJ
fsr-3131	310	35	[	[	X
fsr-3131	310	36	0.284	0.284	NUM
fsr-3131	310	37	,	,	PUNCT
fsr-3131	310	38	0.286	0.286	NUM
fsr-3131	310	39	]	]	PUNCT
fsr-3131	310	40	for	for	ADP
fsr-3131	310	41	the	the	DET
fsr-3131	310	42	25	25	NUM
fsr-3131	310	43	-	-	PUNCT
fsr-3131	310	44	year	year	NOUN
fsr-3131	310	45	old	old	ADJ
fsr-3131	310	46	,	,	PUNCT
fsr-3131	310	47	40	40	NUM
fsr-3131	310	48	-	-	PUNCT
fsr-3131	310	49	year	year	NOUN
fsr-3131	310	50	old	old	ADJ
fsr-3131	310	51	,	,	PUNCT
fsr-3131	310	52	and	and	CCONJ
fsr-3131	310	53	55	55	NUM
fsr-3131	310	54	-	-	PUNCT
fsr-3131	310	55	year	year	NOUN
fsr-3131	310	56	old	old	ADJ
fsr-3131	310	57	investors	investor	NOUN
fsr-3131	310	58	,	,	PUNCT
fsr-3131	310	59	respectively	respectively	ADV
fsr-3131	310	60	.	.	PUNCT
fsr-3131	311	1	these	these	DET
fsr-3131	311	2	findings	finding	NOUN
fsr-3131	311	3	suggest	suggest	VERB
fsr-3131	311	4	that	that	SCONJ
fsr-3131	311	5	the	the	DET
fsr-3131	311	6	cv	cv	PROPN
fsr-3131	311	7	-	-	PUNCT
fsr-3131	311	8	tw	tw	NOUN
fsr-3131	311	9	can	can	AUX
fsr-3131	311	10	be	be	AUX
fsr-3131	311	11	improved	improve	VERB
fsr-3131	311	12	when	when	SCONJ
fsr-3131	311	13	long	long	ADJ
fsr-3131	311	14	-	-	PUNCT
fsr-3131	311	15	term	term	NOUN
fsr-3131	311	16	equity	equity	NOUN
fsr-3131	311	17	prices	price	NOUN
fsr-3131	311	18	are	be	AUX
fsr-3131	311	19	either	either	PRON
fsr-3131	311	20	rising	rise	VERB
fsr-3131	311	21	or	or	CCONJ
fsr-3131	311	22	flat	flat	ADJ
fsr-3131	311	23	.	.	PUNCT
fsr-3131	312	1	unfortunately	unfortunately	ADV
fsr-3131	312	2	,	,	PUNCT
fsr-3131	312	3	the	the	DET
fsr-3131	312	4	benefits	benefit	NOUN
fsr-3131	312	5	of	of	ADP
fsr-3131	312	6	allocations	allocation	NOUN
fsr-3131	312	7	with	with	ADP
fsr-3131	312	8	inverse	inverse	NOUN
fsr-3131	312	9	stock	stock	NOUN
fsr-3131	312	10	funds	fund	NOUN
fsr-3131	312	11	still	still	ADV
fsr-3131	312	12	do	do	AUX
fsr-3131	312	13	not	not	PART
fsr-3131	312	14	reduce	reduce	VERB
fsr-3131	312	15	the	the	DET
fsr-3131	312	16	cv	cv	PROPN
fsr-3131	312	17	-	-	PUNCT
fsr-3131	312	18	s.	s.	PROPN
fsr-3131	312	19	referring	refer	VERB
fsr-3131	312	20	to	to	ADP
fsr-3131	312	21	the	the	DET
fsr-3131	312	22	upper	upper	ADJ
fsr-3131	312	23	panel	panel	NOUN
fsr-3131	312	24	of	of	ADP
fsr-3131	312	25	table	table	NOUN
fsr-3131	312	26	5	5	NUM
fsr-3131	312	27	in	in	ADP
fsr-3131	312	28	the	the	DET
fsr-3131	312	29	row	row	NOUN
fsr-3131	312	30	labeled	label	VERB
fsr-3131	312	31	“	"	PUNCT
fsr-3131	312	32	sharpe	sharpe	PROPN
fsr-3131	312	33	ratio	ratio	PROPN
fsr-3131	312	34	statistics	statistic	NOUN
fsr-3131	312	35	,	,	PUNCT
fsr-3131	312	36	”	"	PUNCT
fsr-3131	312	37	we	we	PRON
fsr-3131	312	38	see	see	VERB
fsr-3131	312	39	the	the	DET
fsr-3131	312	40	same	same	ADJ
fsr-3131	312	41	relationships	relationship	NOUN
fsr-3131	312	42	observed	observe	VERB
fsr-3131	312	43	in	in	ADP
fsr-3131	312	44	table	table	NOUN
fsr-3131	312	45	4	4	NUM
fsr-3131	312	46	.	.	PUNCT
fsr-3131	313	1	that	that	ADV
fsr-3131	313	2	is	is	ADV
fsr-3131	313	3	,	,	PUNCT
fsr-3131	313	4	the	the	DET
fsr-3131	313	5	cv	cv	PROPN
fsr-3131	313	6	-	-	PUNCT
fsr-3131	313	7	s	s	NOUN
fsr-3131	313	8	does	do	AUX
fsr-3131	313	9	not	not	PART
fsr-3131	313	10	improve	improve	VERB
fsr-3131	313	11	with	with	ADP
fsr-3131	313	12	the	the	DET
fsr-3131	313	13	inclusion	inclusion	NOUN
fsr-3131	313	14	of	of	ADP
fsr-3131	313	15	the	the	DET
fsr-3131	313	16	inverse	inverse	NOUN
fsr-3131	313	17	fund	fund	NOUN
fsr-3131	313	18	as	as	ADP
fsr-3131	313	19	an	an	DET
fsr-3131	313	20	alternative	alternative	ADJ
fsr-3131	313	21	asset	asset	NOUN
fsr-3131	313	22	.	.	PUNCT
fsr-3131	314	1	lastly	lastly	ADV
fsr-3131	314	2	,	,	PUNCT
fsr-3131	314	3	and	and	CCONJ
fsr-3131	314	4	somewhat	somewhat	ADV
fsr-3131	314	5	surprisingly	surprisingly	ADV
fsr-3131	314	6	over	over	ADP
fsr-3131	314	7	a	a	DET
fsr-3131	314	8	period	period	NOUN
fsr-3131	314	9	of	of	ADP
fsr-3131	314	10	rising	rise	VERB
fsr-3131	314	11	equity	equity	NOUN
fsr-3131	314	12	prices	price	NOUN
fsr-3131	314	13	,	,	PUNCT
fsr-3131	314	14	there	there	PRON
fsr-3131	314	15	is	be	VERB
fsr-3131	314	16	a	a	DET
fsr-3131	314	17	no	no	DET
fsr-3131	314	18	diversification	diversification	NOUN
fsr-3131	314	19	benefit	benefit	NOUN
fsr-3131	314	20	in	in	ADP
fsr-3131	314	21	the	the	DET
fsr-3131	314	22	cv	cv	PROPN
fsr-3131	314	23	-	-	PUNCT
fsr-3131	314	24	tw	tw	NOUN
fsr-3131	314	25	from	from	ADP
fsr-3131	314	26	using	use	VERB
fsr-3131	314	27	a	a	DET
fsr-3131	314	28	leveraged	leveraged	ADJ
fsr-3131	314	29	etf	etf	NOUN
fsr-3131	314	30	,	,	PUNCT
fsr-3131	314	31	as	as	SCONJ
fsr-3131	314	32	shown	show	VERB
fsr-3131	314	33	in	in	ADP
fsr-3131	314	34	the	the	DET
fsr-3131	314	35	lower	low	ADJ
fsr-3131	314	36	panel	panel	NOUN
fsr-3131	314	37	of	of	ADP
fsr-3131	314	38	table	table	NOUN
fsr-3131	314	39	5	5	NUM
fsr-3131	314	40	.	.	PUNCT
fsr-3131	315	1	in	in	ADP
fsr-3131	315	2	all	all	DET
fsr-3131	315	3	cases	case	NOUN
fsr-3131	315	4	,	,	PUNCT
fsr-3131	315	5	the	the	DET
fsr-3131	315	6	cv	cv	PROPN
fsr-3131	315	7	-	-	PUNCT
fsr-3131	315	8	tw	tw	NOUN
fsr-3131	315	9	increases	increase	NOUN
fsr-3131	315	10	,	,	PUNCT
fsr-3131	315	11	suggesting	suggest	VERB
fsr-3131	315	12	that	that	SCONJ
fsr-3131	315	13	the	the	DET
fsr-3131	315	14	leveraged	leverage	VERB
fsr-3131	315	15	stock	stock	NOUN
fsr-3131	315	16	fund	fund	NOUN
fsr-3131	315	17	provides	provide	VERB
fsr-3131	315	18	no	no	DET
fsr-3131	315	19	risk	risk	NOUN
fsr-3131	315	20	-	-	PUNCT
fsr-3131	315	21	return	return	NOUN
fsr-3131	315	22	benefit	benefit	NOUN
fsr-3131	315	23	.	.	PUNCT
fsr-3131	316	1	this	this	DET
fsr-3131	316	2	finding	finding	NOUN
fsr-3131	316	3	may	may	AUX
fsr-3131	316	4	be	be	AUX
fsr-3131	316	5	counterintuitive	counterintuitive	ADJ
fsr-3131	316	6	,	,	PUNCT
fsr-3131	316	7	when	when	SCONJ
fsr-3131	316	8	considering	consider	VERB
fsr-3131	316	9	the	the	DET
fsr-3131	316	10	positive	positive	ADJ
fsr-3131	316	11	upward	upward	ADJ
fsr-3131	316	12	trend	trend	NOUN
fsr-3131	316	13	of	of	ADP
fsr-3131	316	14	equities	equity	NOUN
fsr-3131	316	15	in	in	ADP
fsr-3131	316	16	the	the	DET
fsr-3131	316	17	1991–2000	1991–2000	NUM
fsr-3131	316	18	time	time	NOUN
fsr-3131	316	19	period	period	NOUN
fsr-3131	316	20	,	,	PUNCT
fsr-3131	316	21	but	but	CCONJ
fsr-3131	316	22	is	be	AUX
fsr-3131	316	23	partly	partly	ADV
fsr-3131	316	24	reconciled	reconcile	VERB
fsr-3131	316	25	when	when	SCONJ
fsr-3131	316	26	reviewing	review	VERB
fsr-3131	316	27	the	the	DET
fsr-3131	316	28	lower	low	ADJ
fsr-3131	316	29	panel	panel	NOUN
fsr-3131	316	30	of	of	ADP
fsr-3131	316	31	table	table	NOUN
fsr-3131	316	32	5	5	NUM
fsr-3131	316	33	labeled	label	VERB
fsr-3131	316	34	“	"	PUNCT
fsr-3131	316	35	sharpe	sharpe	PROPN
fsr-3131	316	36	ratio	ratio	PROPN
fsr-3131	316	37	statistics	statistic	NOUN
fsr-3131	316	38	.	.	PUNCT
fsr-3131	316	39	”	"	PUNCT
fsr-3131	317	1	here	here	ADV
fsr-3131	317	2	,	,	PUNCT
fsr-3131	317	3	the	the	DET
fsr-3131	317	4	cv	cv	PROPN
fsr-3131	317	5	-	-	PUNCT
fsr-3131	317	6	s	s	NOUN
fsr-3131	317	7	shows	show	VERB
fsr-3131	317	8	a	a	DET
fsr-3131	317	9	marginal	marginal	ADJ
fsr-3131	317	10	risk	risk	NOUN
fsr-3131	317	11	-	-	PUNCT
fsr-3131	317	12	adjusted	adjust	VERB
fsr-3131	317	13	improvement	improvement	NOUN
fsr-3131	317	14	from	from	ADP
fsr-3131	317	15	the	the	DET
fsr-3131	317	16	use	use	NOUN
fsr-3131	317	17	of	of	ADP
fsr-3131	317	18	the	the	DET
fsr-3131	317	19	leveraged	leverage	VERB
fsr-3131	317	20	stock	stock	NOUN
fsr-3131	317	21	fund	fund	NOUN
fsr-3131	317	22	in	in	ADP
fsr-3131	317	23	a	a	DET
fsr-3131	317	24	rising	rise	VERB
fsr-3131	317	25	equity	equity	NOUN
fsr-3131	317	26	market	market	NOUN
fsr-3131	317	27	,	,	PUNCT
fsr-3131	317	28	because	because	SCONJ
fsr-3131	317	29	these	these	DET
fsr-3131	317	30	values	value	NOUN
fsr-3131	317	31	all	all	PRON
fsr-3131	317	32	fall	fall	VERB
fsr-3131	317	33	slightly	slightly	ADV
fsr-3131	317	34	below	below	ADP
fsr-3131	317	35	the	the	DET
fsr-3131	317	36	99.9	99.9	NUM
fsr-3131	317	37	%	%	NOUN
fsr-3131	317	38	confidence	confidence	NOUN
fsr-3131	317	39	136	136	NUM
fsr-3131	317	40	j.a	j.a	PROPN
fsr-3131	317	41	.	.	PROPN
fsr-3131	317	42	dilellio	dilellio	PROPN
fsr-3131	317	43	,	,	PUNCT
fsr-3131	317	44	r.	r.	PROPN
fsr-3131	317	45	hesse	hesse	PROPN
fsr-3131	317	46	,	,	PUNCT
fsr-3131	317	47	d.j	d.j	PROPN
fsr-3131	317	48	.	.	PROPN
fsr-3131	317	49	stanley	stanley	PROPN
fsr-3131	317	50	/	/	SYM
fsr-3131	317	51	financial	financial	ADJ
fsr-3131	317	52	services	service	NOUN
fsr-3131	317	53	review	review	VERB
fsr-3131	317	54	23	23	NUM
fsr-3131	317	55	(	(	PUNCT
fsr-3131	317	56	2014	2014	NUM
fsr-3131	317	57	)	)	PUNCT
fsr-3131	317	58	123–149	123–149	NUM
fsr-3131	317	59	intervals	interval	NOUN
fsr-3131	317	60	for	for	ADP
fsr-3131	317	61	the	the	DET
fsr-3131	317	62	cv	cv	PROPN
fsr-3131	317	63	-	-	PUNCT
fsr-3131	317	64	s	s	PROPN
fsr-3131	317	65	in	in	ADP
fsr-3131	317	66	table	table	NOUN
fsr-3131	317	67	5	5	NUM
fsr-3131	317	68	of	of	ADP
fsr-3131	317	69	[	[	X
fsr-3131	317	70	0.325	0.325	NUM
fsr-3131	317	71	,	,	PUNCT
fsr-3131	317	72	0.327	0.327	NUM
fsr-3131	317	73	]	]	PUNCT
fsr-3131	317	74	,	,	PUNCT
fsr-3131	318	1	[	[	X
fsr-3131	318	2	0.317	0.317	NUM
fsr-3131	318	3	,	,	PUNCT
fsr-3131	318	4	0.319	0.319	NUM
fsr-3131	318	5	]	]	PUNCT
fsr-3131	318	6	,	,	PUNCT
fsr-3131	318	7	and	and	CCONJ
fsr-3131	318	8	[	[	X
fsr-3131	318	9	0.311	0.311	NUM
fsr-3131	318	10	,	,	PUNCT
fsr-3131	318	11	0.313	0.313	NUM
fsr-3131	318	12	]	]	PUNCT
fsr-3131	318	13	.	.	PUNCT
fsr-3131	319	1	thus	thus	ADV
fsr-3131	319	2	,	,	PUNCT
fsr-3131	319	3	we	we	PRON
fsr-3131	319	4	see	see	VERB
fsr-3131	319	5	that	that	SCONJ
fsr-3131	319	6	there	there	PRON
fsr-3131	319	7	is	be	VERB
fsr-3131	319	8	a	a	DET
fsr-3131	319	9	benefit	benefit	NOUN
fsr-3131	319	10	to	to	ADP
fsr-3131	319	11	an	an	DET
fsr-3131	319	12	alternative	alternative	ADJ
fsr-3131	319	13	allocation	allocation	NOUN
fsr-3131	319	14	using	use	VERB
fsr-3131	319	15	leveraged	leveraged	ADJ
fsr-3131	319	16	equity	equity	NOUN
fsr-3131	319	17	funds	fund	NOUN
fsr-3131	319	18	,	,	PUNCT
fsr-3131	319	19	provided	provide	VERB
fsr-3131	319	20	an	an	DET
fsr-3131	319	21	investor	investor	NOUN
fsr-3131	319	22	relies	rely	VERB
fsr-3131	319	23	on	on	ADP
fsr-3131	319	24	sharpe	sharpe	PROPN
fsr-3131	319	25	ratio	ratio	NOUN
fsr-3131	319	26	,	,	PUNCT
fsr-3131	319	27	not	not	PART
fsr-3131	319	28	terminal	terminal	VERB
fsr-3131	319	29	wealth	wealth	NOUN
fsr-3131	319	30	statistic	statistic	NOUN
fsr-3131	319	31	,	,	PUNCT
fsr-3131	319	32	in	in	ADP
fsr-3131	319	33	rising	rise	VERB
fsr-3131	319	34	equity	equity	NOUN
fsr-3131	319	35	markets	market	NOUN
fsr-3131	319	36	.	.	PUNCT
fsr-3131	320	1	again	again	ADV
fsr-3131	320	2	for	for	ADP
fsr-3131	320	3	completeness	completeness	NOUN
fsr-3131	320	4	,	,	PUNCT
fsr-3131	320	5	we	we	PRON
fsr-3131	320	6	also	also	ADV
fsr-3131	320	7	tested	test	VERB
fsr-3131	320	8	levels	level	NOUN
fsr-3131	320	9	of	of	ADP
fsr-3131	320	10	statistical	statistical	ADJ
fsr-3131	320	11	significance	significance	NOUN
fsr-3131	320	12	between	between	ADP
fsr-3131	320	13	the	the	DET
fsr-3131	320	14	top	top	ADJ
fsr-3131	320	15	and	and	CCONJ
fsr-3131	320	16	bottom	bottom	ADJ
fsr-3131	320	17	panels	panel	NOUN
fsr-3131	320	18	in	in	ADP
fsr-3131	320	19	table	table	NOUN
fsr-3131	320	20	5	5	NUM
fsr-3131	320	21	using	use	VERB
fsr-3131	320	22	the	the	DET
fsr-3131	320	23	confidence	confidence	NOUN
fsr-3131	320	24	intervals	interval	NOUN
fsr-3131	320	25	estimated	estimate	VERB
fsr-3131	320	26	above	above	ADV
fsr-3131	320	27	.	.	PUNCT
fsr-3131	321	1	recalling	recall	VERB
fsr-3131	321	2	our	our	PRON
fsr-3131	321	3	99	99	NUM
fsr-3131	321	4	%	%	NOUN
fsr-3131	321	5	confidence	confidence	NOUN
fsr-3131	321	6	intervals	interval	NOUN
fsr-3131	321	7	cited	cite	VERB
fsr-3131	321	8	previously	previously	ADV
fsr-3131	321	9	for	for	ADP
fsr-3131	321	10	the	the	DET
fsr-3131	321	11	traditional	traditional	ADJ
fsr-3131	321	12	allocation	allocation	NOUN
fsr-3131	321	13	,	,	PUNCT
fsr-3131	321	14	we	we	PRON
fsr-3131	321	15	again	again	ADV
fsr-3131	321	16	note	note	VERB
fsr-3131	321	17	that	that	SCONJ
fsr-3131	321	18	the	the	DET
fsr-3131	321	19	cv	cv	PROPN
fsr-3131	321	20	-	-	PUNCT
fsr-3131	321	21	tw	tw	PROPN
fsr-3131	321	22	and	and	CCONJ
fsr-3131	321	23	cv	cv	PROPN
fsr-3131	321	24	-	-	PUNCT
fsr-3131	321	25	s	s	PROPN
fsr-3131	321	26	in	in	ADP
fsr-3131	321	27	the	the	DET
fsr-3131	321	28	bottom	bottom	ADJ
fsr-3131	321	29	panel	panel	NOUN
fsr-3131	321	30	labeled	label	VERB
fsr-3131	321	31	“	"	PUNCT
fsr-3131	321	32	traditional	traditional	ADJ
fsr-3131	321	33	allocation	allocation	NOUN
fsr-3131	321	34	”	"	PUNCT
fsr-3131	321	35	all	all	DET
fsr-3131	321	36	fall	fall	VERB
fsr-3131	321	37	within	within	ADP
fsr-3131	321	38	these	these	DET
fsr-3131	321	39	intervals	interval	NOUN
fsr-3131	321	40	.	.	PUNCT
fsr-3131	322	1	recall	recall	VERB
fsr-3131	322	2	that	that	SCONJ
fsr-3131	322	3	this	this	PRON
fsr-3131	322	4	is	be	AUX
fsr-3131	322	5	expected	expect	VERB
fsr-3131	322	6	since	since	SCONJ
fsr-3131	322	7	it	it	PRON
fsr-3131	322	8	represents	represent	VERB
fsr-3131	322	9	another	another	DET
fsr-3131	322	10	random	random	ADJ
fsr-3131	322	11	draw	draw	NOUN
fsr-3131	322	12	of	of	ADP
fsr-3131	322	13	100,000	100,000	NUM
fsr-3131	322	14	trials	trial	NOUN
fsr-3131	322	15	in	in	ADP
fsr-3131	322	16	the	the	DET
fsr-3131	322	17	simulation	simulation	NOUN
fsr-3131	322	18	.	.	PUNCT
fsr-3131	323	1	7	7	X
fsr-3131	323	2	.	.	X
fsr-3131	323	3	enhancing	enhance	VERB
fsr-3131	323	4	the	the	DET
fsr-3131	323	5	study	study	NOUN
fsr-3131	323	6	by	by	ADP
fsr-3131	323	7	utilizing	utilize	VERB
fsr-3131	323	8	other	other	ADJ
fsr-3131	323	9	stock	stock	NOUN
fsr-3131	323	10	and	and	CCONJ
fsr-3131	323	11	bond	bond	NOUN
fsr-3131	323	12	funds	fund	NOUN
fsr-3131	323	13	one	one	NUM
fsr-3131	323	14	criticism	criticism	NOUN
fsr-3131	323	15	that	that	PRON
fsr-3131	323	16	could	could	AUX
fsr-3131	323	17	be	be	AUX
fsr-3131	323	18	raised	raise	VERB
fsr-3131	323	19	by	by	ADP
fsr-3131	323	20	the	the	DET
fsr-3131	323	21	results	result	NOUN
fsr-3131	323	22	shown	show	VERB
fsr-3131	323	23	so	so	ADV
fsr-3131	323	24	far	far	ADV
fsr-3131	323	25	is	be	AUX
fsr-3131	323	26	that	that	SCONJ
fsr-3131	323	27	it	it	PRON
fsr-3131	323	28	only	only	ADV
fsr-3131	323	29	incorporated	incorporate	VERB
fsr-3131	323	30	one	one	NUM
fsr-3131	323	31	specific	specific	ADJ
fsr-3131	323	32	stock	stock	NOUN
fsr-3131	323	33	index	index	NOUN
fsr-3131	323	34	fund	fund	NOUN
fsr-3131	323	35	(	(	PUNCT
fsr-3131	323	36	vfinx	vfinx	NOUN
fsr-3131	323	37	)	)	PUNCT
fsr-3131	323	38	and	and	CCONJ
fsr-3131	323	39	one	one	NUM
fsr-3131	323	40	specific	specific	ADJ
fsr-3131	323	41	bond	bond	NOUN
fsr-3131	323	42	index	index	NOUN
fsr-3131	323	43	fund	fund	NOUN
fsr-3131	323	44	(	(	PUNCT
fsr-3131	323	45	vbmfx	vbmfx	NOUN
fsr-3131	323	46	)	)	PUNCT
fsr-3131	323	47	.	.	PUNCT
fsr-3131	324	1	thus	thus	ADV
fsr-3131	324	2	,	,	PUNCT
fsr-3131	324	3	the	the	DET
fsr-3131	324	4	results	result	NOUN
fsr-3131	324	5	shown	show	VERB
fsr-3131	324	6	above	above	ADP
fsr-3131	324	7	may	may	AUX
fsr-3131	324	8	not	not	PART
fsr-3131	324	9	be	be	AUX
fsr-3131	324	10	generally	generally	ADV
fsr-3131	324	11	applicable	applicable	ADJ
fsr-3131	324	12	to	to	ADP
fsr-3131	324	13	other	other	ADJ
fsr-3131	324	14	funds	fund	NOUN
fsr-3131	324	15	utilized	utilize	VERB
fsr-3131	324	16	by	by	ADP
fsr-3131	324	17	individual	individual	ADJ
fsr-3131	324	18	investors	investor	NOUN
fsr-3131	324	19	and	and	CCONJ
fsr-3131	324	20	financial	financial	ADJ
fsr-3131	324	21	planners	planner	NOUN
fsr-3131	324	22	,	,	PUNCT
fsr-3131	324	23	even	even	ADV
fsr-3131	324	24	if	if	SCONJ
fsr-3131	324	25	these	these	DET
fsr-3131	324	26	stock	stock	NOUN
fsr-3131	324	27	and	and	CCONJ
fsr-3131	324	28	bond	bond	NOUN
fsr-3131	324	29	funds	fund	NOUN
fsr-3131	324	30	are	be	AUX
fsr-3131	324	31	major	major	ADJ
fsr-3131	324	32	players	player	NOUN
fsr-3131	324	33	in	in	ADP
fsr-3131	324	34	their	their	PRON
fsr-3131	324	35	respective	respective	ADJ
fsr-3131	324	36	investment	investment	NOUN
fsr-3131	324	37	categories	category	NOUN
fsr-3131	324	38	.	.	PUNCT
fsr-3131	325	1	therefore	therefore	ADV
fsr-3131	325	2	,	,	PUNCT
fsr-3131	325	3	to	to	PART
fsr-3131	325	4	strengthen	strengthen	VERB
fsr-3131	325	5	the	the	DET
fsr-3131	325	6	findings	finding	NOUN
fsr-3131	325	7	from	from	ADP
fsr-3131	325	8	the	the	DET
fsr-3131	325	9	previous	previous	ADJ
fsr-3131	325	10	section	section	NOUN
fsr-3131	325	11	,	,	PUNCT
fsr-3131	325	12	we	we	PRON
fsr-3131	325	13	identified	identify	VERB
fsr-3131	325	14	additional	additional	ADJ
fsr-3131	325	15	stock	stock	NOUN
fsr-3131	325	16	and	and	CCONJ
fsr-3131	325	17	bond	bond	NOUN
fsr-3131	325	18	index	index	NOUN
fsr-3131	325	19	funds	fund	NOUN
fsr-3131	325	20	to	to	PART
fsr-3131	325	21	see	see	VERB
fsr-3131	325	22	if	if	SCONJ
fsr-3131	325	23	the	the	DET
fsr-3131	325	24	results	result	NOUN
fsr-3131	325	25	shown	show	VERB
fsr-3131	325	26	previously	previously	ADV
fsr-3131	325	27	still	still	ADV
fsr-3131	325	28	hold	hold	VERB
fsr-3131	325	29	.	.	PUNCT
fsr-3131	326	1	for	for	ADP
fsr-3131	326	2	stock	stock	NOUN
fsr-3131	326	3	funds	fund	NOUN
fsr-3131	326	4	,	,	PUNCT
fsr-3131	326	5	we	we	PRON
fsr-3131	326	6	identified	identify	VERB
fsr-3131	326	7	four	four	NUM
fsr-3131	326	8	potential	potential	ADJ
fsr-3131	326	9	stock	stock	NOUN
fsr-3131	326	10	indices	index	NOUN
fsr-3131	326	11	to	to	PART
fsr-3131	326	12	compliment	compliment	VERB
fsr-3131	326	13	and	and	CCONJ
fsr-3131	326	14	extend	extend	VERB
fsr-3131	326	15	the	the	DET
fsr-3131	326	16	findings	finding	NOUN
fsr-3131	326	17	previously	previously	ADV
fsr-3131	326	18	shown	show	VERB
fsr-3131	326	19	that	that	PRON
fsr-3131	326	20	were	be	AUX
fsr-3131	326	21	based	base	VERB
fsr-3131	326	22	on	on	ADP
fsr-3131	326	23	the	the	DET
fsr-3131	326	24	s&p	s&p	PROPN
fsr-3131	326	25	500	500	NUM
fsr-3131	326	26	index	index	NOUN
fsr-3131	326	27	fund	fund	NOUN
fsr-3131	326	28	,	,	PUNCT
fsr-3131	326	29	which	which	PRON
fsr-3131	326	30	is	be	AUX
fsr-3131	326	31	a	a	DET
fsr-3131	326	32	large	large	ADJ
fsr-3131	326	33	capitalization	capitalization	NOUN
fsr-3131	326	34	stock	stock	NOUN
fsr-3131	326	35	fund	fund	NOUN
fsr-3131	326	36	.	.	PUNCT
fsr-3131	327	1	the	the	DET
fsr-3131	327	2	four	four	NUM
fsr-3131	327	3	candidate	candidate	NOUN
fsr-3131	327	4	stock	stock	NOUN
fsr-3131	327	5	funds	fund	NOUN
fsr-3131	327	6	represented	represent	VERB
fsr-3131	327	7	mid	mid	ADJ
fsr-3131	327	8	and	and	CCONJ
fsr-3131	327	9	small	small	ADJ
fsr-3131	327	10	capitalization	capitalization	NOUN
fsr-3131	327	11	stocks	stock	NOUN
fsr-3131	327	12	,	,	PUNCT
fsr-3131	327	13	along	along	ADP
fsr-3131	327	14	with	with	ADP
fsr-3131	327	15	the	the	DET
fsr-3131	327	16	nasdaq	nasdaq	PROPN
fsr-3131	327	17	and	and	CCONJ
fsr-3131	327	18	dow	dow	PROPN
fsr-3131	327	19	jones	jones	PROPN
fsr-3131	327	20	industrials	industrial	NOUN
fsr-3131	327	21	indices	index	NOUN
fsr-3131	327	22	.	.	PUNCT
fsr-3131	328	1	although	although	SCONJ
fsr-3131	328	2	many	many	ADJ
fsr-3131	328	3	other	other	ADJ
fsr-3131	328	4	stock	stock	NOUN
fsr-3131	328	5	index	index	NOUN
fsr-3131	328	6	funds	fund	NOUN
fsr-3131	328	7	could	could	AUX
fsr-3131	328	8	be	be	AUX
fsr-3131	328	9	considered	consider	VERB
fsr-3131	328	10	,	,	PUNCT
fsr-3131	328	11	such	such	ADJ
fsr-3131	328	12	as	as	ADP
fsr-3131	328	13	international	international	ADJ
fsr-3131	328	14	developed	developed	ADJ
fsr-3131	328	15	and	and	CCONJ
fsr-3131	328	16	emerging	emerge	VERB
fsr-3131	328	17	markets	market	NOUN
fsr-3131	328	18	,	,	PUNCT
fsr-3131	328	19	we	we	PRON
fsr-3131	328	20	chose	choose	VERB
fsr-3131	328	21	these	these	PRON
fsr-3131	328	22	because	because	SCONJ
fsr-3131	328	23	of	of	ADP
fsr-3131	328	24	their	their	PRON
fsr-3131	328	25	wide	wide	ADJ
fsr-3131	328	26	familiarity	familiarity	NOUN
fsr-3131	328	27	to	to	ADP
fsr-3131	328	28	individual	individual	ADJ
fsr-3131	328	29	investors	investor	NOUN
fsr-3131	328	30	and	and	CCONJ
fsr-3131	328	31	financial	financial	ADJ
fsr-3131	328	32	planners	planner	NOUN
fsr-3131	328	33	who	who	PRON
fsr-3131	328	34	we	we	PRON
fsr-3131	328	35	believe	believe	VERB
fsr-3131	328	36	would	would	AUX
fsr-3131	328	37	treat	treat	VERB
fsr-3131	328	38	them	they	PRON
fsr-3131	328	39	as	as	ADP
fsr-3131	328	40	likely	likely	ADJ
fsr-3131	328	41	candidates	candidate	NOUN
fsr-3131	328	42	for	for	ADP
fsr-3131	328	43	their	their	PRON
fsr-3131	328	44	stock	stock	NOUN
fsr-3131	328	45	investment	investment	NOUN
fsr-3131	328	46	.	.	PUNCT
fsr-3131	329	1	we	we	PRON
fsr-3131	329	2	also	also	ADV
fsr-3131	329	3	identified	identify	VERB
fsr-3131	329	4	two	two	NUM
fsr-3131	329	5	additional	additional	ADJ
fsr-3131	329	6	bond	bond	NOUN
fsr-3131	329	7	funds	fund	NOUN
fsr-3131	329	8	to	to	PART
fsr-3131	329	9	extend	extend	VERB
fsr-3131	329	10	the	the	DET
fsr-3131	329	11	midterm	midterm	NOUN
fsr-3131	329	12	maturity	maturity	NOUN
fsr-3131	329	13	high	high	ADJ
fsr-3131	329	14	quality	quality	NOUN
fsr-3131	329	15	corporate	corporate	ADJ
fsr-3131	329	16	and	and	CCONJ
fsr-3131	329	17	u.s	u.s	PROPN
fsr-3131	329	18	.	.	PROPN
fsr-3131	329	19	government	government	NOUN
fsr-3131	329	20	bond	bond	NOUN
fsr-3131	329	21	fund	fund	NOUN
fsr-3131	329	22	examined	examine	VERB
fsr-3131	329	23	previously	previously	ADV
fsr-3131	329	24	.	.	PUNCT
fsr-3131	330	1	these	these	DET
fsr-3131	330	2	new	new	ADJ
fsr-3131	330	3	bond	bond	NOUN
fsr-3131	330	4	funds	fund	NOUN
fsr-3131	330	5	provide	provide	VERB
fsr-3131	330	6	short	short	ADJ
fsr-3131	330	7	and	and	CCONJ
fsr-3131	330	8	long	long	ADJ
fsr-3131	330	9	-	-	PUNCT
fsr-3131	330	10	term	term	NOUN
fsr-3131	330	11	maturities	maturity	NOUN
fsr-3131	330	12	.	.	PUNCT
fsr-3131	331	1	in	in	ADP
fsr-3131	331	2	terms	term	NOUN
fsr-3131	331	3	of	of	ADP
fsr-3131	331	4	an	an	DET
fsr-3131	331	5	expanded	expand	VERB
fsr-3131	331	6	set	set	NOUN
fsr-3131	331	7	of	of	ADP
fsr-3131	331	8	bond	bond	NOUN
fsr-3131	331	9	funds	fund	NOUN
fsr-3131	331	10	,	,	PUNCT
fsr-3131	331	11	although	although	SCONJ
fsr-3131	331	12	we	we	PRON
fsr-3131	331	13	recognized	recognize	VERB
fsr-3131	331	14	that	that	SCONJ
fsr-3131	331	15	there	there	PRON
fsr-3131	331	16	are	be	VERB
fsr-3131	331	17	potentially	potentially	ADV
fsr-3131	331	18	many	many	ADJ
fsr-3131	331	19	other	other	ADJ
fsr-3131	331	20	bond	bond	NOUN
fsr-3131	331	21	funds	fund	NOUN
fsr-3131	331	22	from	from	ADP
fsr-3131	331	23	which	which	PRON
fsr-3131	331	24	to	to	PART
fsr-3131	331	25	select	select	VERB
fsr-3131	331	26	,	,	PUNCT
fsr-3131	331	27	we	we	PRON
fsr-3131	331	28	believe	believe	VERB
fsr-3131	331	29	these	these	PRON
fsr-3131	331	30	carry	carry	VERB
fsr-3131	331	31	risks	risk	NOUN
fsr-3131	331	32	that	that	PRON
fsr-3131	331	33	may	may	AUX
fsr-3131	331	34	prevent	prevent	VERB
fsr-3131	331	35	many	many	ADJ
fsr-3131	331	36	bond	bond	NOUN
fsr-3131	331	37	investors	investor	NOUN
fsr-3131	331	38	from	from	ADP
fsr-3131	331	39	considering	consider	VERB
fsr-3131	331	40	them	they	PRON
fsr-3131	331	41	as	as	ADP
fsr-3131	331	42	their	their	PRON
fsr-3131	331	43	primary	primary	ADJ
fsr-3131	331	44	bond	bond	NOUN
fsr-3131	331	45	investment	investment	NOUN
fsr-3131	331	46	.	.	PUNCT
fsr-3131	332	1	these	these	DET
fsr-3131	332	2	alternatives	alternative	NOUN
fsr-3131	332	3	included	include	VERB
fsr-3131	332	4	junk	junk	NOUN
fsr-3131	332	5	,	,	PUNCT
fsr-3131	332	6	international	international	ADJ
fsr-3131	332	7	,	,	PUNCT
fsr-3131	332	8	and	and	CCONJ
fsr-3131	332	9	emerging	emerge	VERB
fsr-3131	332	10	market	market	NOUN
fsr-3131	332	11	bonds	bond	NOUN
fsr-3131	332	12	.	.	PUNCT
fsr-3131	333	1	lastly	lastly	ADV
fsr-3131	333	2	,	,	PUNCT
fsr-3131	333	3	we	we	PRON
fsr-3131	333	4	chose	choose	VERB
fsr-3131	333	5	not	not	PART
fsr-3131	333	6	to	to	PART
fsr-3131	333	7	include	include	VERB
fsr-3131	333	8	municipal	municipal	ADJ
fsr-3131	333	9	bonds	bond	NOUN
fsr-3131	333	10	because	because	SCONJ
fsr-3131	333	11	we	we	PRON
fsr-3131	333	12	are	be	AUX
fsr-3131	333	13	interested	interested	ADJ
fsr-3131	333	14	in	in	ADP
fsr-3131	333	15	investments	investment	NOUN
fsr-3131	333	16	in	in	ADP
fsr-3131	333	17	a	a	DET
fsr-3131	333	18	tax	tax	NOUN
fsr-3131	333	19	deferred	defer	VERB
fsr-3131	333	20	or	or	CCONJ
fsr-3131	333	21	tax	tax	NOUN
fsr-3131	333	22	exempt	exempt	ADJ
fsr-3131	333	23	account	account	NOUN
fsr-3131	333	24	,	,	PUNCT
fsr-3131	333	25	such	such	ADJ
fsr-3131	333	26	as	as	ADP
fsr-3131	333	27	an	an	DET
fsr-3131	333	28	ira	ira	PROPN
fsr-3131	333	29	or	or	CCONJ
fsr-3131	333	30	401k	401k	NOUN
fsr-3131	333	31	.	.	PUNCT
fsr-3131	334	1	a	a	DET
fsr-3131	334	2	summary	summary	NOUN
fsr-3131	334	3	of	of	ADP
fsr-3131	334	4	the	the	DET
fsr-3131	334	5	original	original	ADJ
fsr-3131	334	6	stock	stock	NOUN
fsr-3131	334	7	and	and	CCONJ
fsr-3131	334	8	bond	bond	NOUN
fsr-3131	334	9	funds	fund	NOUN
fsr-3131	334	10	,	,	PUNCT
fsr-3131	334	11	which	which	PRON
fsr-3131	334	12	appears	appear	VERB
fsr-3131	334	13	on	on	ADP
fsr-3131	334	14	the	the	DET
fsr-3131	334	15	first	first	ADJ
fsr-3131	334	16	row	row	NOUN
fsr-3131	334	17	,	,	PUNCT
fsr-3131	334	18	along	along	ADP
fsr-3131	334	19	with	with	ADP
fsr-3131	334	20	the	the	DET
fsr-3131	334	21	expanded	expand	VERB
fsr-3131	334	22	set	set	NOUN
fsr-3131	334	23	of	of	ADP
fsr-3131	334	24	funds	fund	NOUN
fsr-3131	334	25	to	to	PART
fsr-3131	334	26	be	be	AUX
fsr-3131	334	27	analyzed	analyze	VERB
fsr-3131	334	28	,	,	PUNCT
fsr-3131	334	29	appear	appear	VERB
fsr-3131	334	30	in	in	ADP
fsr-3131	334	31	tables	table	NOUN
fsr-3131	334	32	6	6	NUM
fsr-3131	334	33	and	and	CCONJ
fsr-3131	334	34	7	7	NUM
fsr-3131	334	35	.	.	NUM
fsr-3131	334	36	including	include	VERB
fsr-3131	334	37	these	these	DET
fsr-3131	334	38	additional	additional	ADJ
fsr-3131	334	39	stock	stock	NOUN
fsr-3131	334	40	and	and	CCONJ
fsr-3131	334	41	bond	bond	NOUN
fsr-3131	334	42	index	index	NOUN
fsr-3131	334	43	funds	fund	NOUN
fsr-3131	334	44	represented	represent	VERB
fsr-3131	334	45	a	a	DET
fsr-3131	334	46	challenge	challenge	NOUN
fsr-3131	334	47	,	,	PUNCT
fsr-3131	334	48	as	as	SCONJ
fsr-3131	334	49	our	our	PRON
fsr-3131	334	50	simulation	simulation	NOUN
fsr-3131	334	51	approach	approach	NOUN
fsr-3131	334	52	required	require	VERB
fsr-3131	334	53	daily	daily	ADJ
fsr-3131	334	54	returns	return	NOUN
fsr-3131	334	55	starting	start	VERB
fsr-3131	334	56	no	no	ADV
fsr-3131	334	57	later	later	ADV
fsr-3131	334	58	than	than	ADP
fsr-3131	334	59	january	january	PROPN
fsr-3131	334	60	1	1	NUM
fsr-3131	334	61	,	,	PUNCT
fsr-3131	334	62	1991	1991	NUM
fsr-3131	334	63	.	.	PUNCT
fsr-3131	335	1	for	for	ADP
fsr-3131	335	2	some	some	PRON
fsr-3131	335	3	of	of	ADP
fsr-3131	335	4	these	these	DET
fsr-3131	335	5	funds	fund	NOUN
fsr-3131	335	6	,	,	PUNCT
fsr-3131	335	7	the	the	DET
fsr-3131	335	8	inception	inception	ADJ
fsr-3131	335	9	dates	date	NOUN
fsr-3131	335	10	noted	note	VERB
fsr-3131	335	11	in	in	ADP
fsr-3131	335	12	tables	table	NOUN
fsr-3131	335	13	6	6	NUM
fsr-3131	335	14	and	and	CCONJ
fsr-3131	335	15	7	7	NUM
fsr-3131	335	16	are	be	AUX
fsr-3131	335	17	many	many	ADJ
fsr-3131	335	18	years	year	NOUN
fsr-3131	335	19	after	after	ADP
fsr-3131	335	20	this	this	DET
fsr-3131	335	21	date	date	NOUN
fsr-3131	335	22	.	.	PUNCT
fsr-3131	336	1	consequently	consequently	ADV
fsr-3131	336	2	,	,	PUNCT
fsr-3131	336	3	the	the	DET
fsr-3131	336	4	updated	update	VERB
fsr-3131	336	5	simulation	simulation	NOUN
fsr-3131	336	6	results	result	NOUN
fsr-3131	336	7	include	include	VERB
fsr-3131	336	8	the	the	DET
fsr-3131	336	9	small	small	ADJ
fsr-3131	336	10	and	and	CCONJ
fsr-3131	336	11	midcap	midcap	NOUN
fsr-3131	336	12	results	result	NOUN
fsr-3131	336	13	in	in	ADP
fsr-3131	336	14	both	both	DET
fsr-3131	336	15	10	10	NUM
fsr-3131	336	16	-	-	PUNCT
fsr-3131	336	17	year	year	NOUN
fsr-3131	336	18	time	time	NOUN
fsr-3131	336	19	periods	period	NOUN
fsr-3131	336	20	(	(	PUNCT
fsr-3131	336	21	1991–2000	1991–2000	NUM
fsr-3131	336	22	and	and	CCONJ
fsr-3131	336	23	2001–2010	2001–2010	NUM
fsr-3131	336	24	)	)	PUNCT
fsr-3131	336	25	,	,	PUNCT
fsr-3131	336	26	but	but	CCONJ
fsr-3131	336	27	our	our	PRON
fsr-3131	336	28	nasdaq	nasdaq	NOUN
fsr-3131	336	29	,	,	PUNCT
fsr-3131	336	30	short	short	ADJ
fsr-3131	336	31	term	term	NOUN
fsr-3131	336	32	,	,	PUNCT
fsr-3131	336	33	and	and	CCONJ
fsr-3131	336	34	long	long	ADJ
fsr-3131	336	35	term	term	NOUN
fsr-3131	336	36	bond	bond	NOUN
fsr-3131	336	37	index	index	NOUN
fsr-3131	336	38	mutual	mutual	ADJ
fsr-3131	336	39	funds	fund	NOUN
fsr-3131	336	40	could	could	AUX
fsr-3131	336	41	only	only	ADV
fsr-3131	336	42	support	support	VERB
fsr-3131	336	43	simulated	simulate	VERB
fsr-3131	336	44	results	result	NOUN
fsr-3131	336	45	for	for	ADP
fsr-3131	336	46	the	the	DET
fsr-3131	336	47	10	10	NUM
fsr-3131	336	48	-	-	PUNCT
fsr-3131	336	49	year	year	NOUN
fsr-3131	336	50	time	time	NOUN
fsr-3131	336	51	period	period	NOUN
fsr-3131	336	52	of	of	ADP
fsr-3131	336	53	2001–2010	2001–2010	NUM
fsr-3131	336	54	because	because	SCONJ
fsr-3131	336	55	of	of	ADP
fsr-3131	336	56	their	their	PRON
fsr-3131	336	57	later	later	ADJ
fsr-3131	336	58	inception	inception	NOUN
fsr-3131	336	59	date	date	NOUN
fsr-3131	336	60	.	.	PUNCT
fsr-3131	337	1	we	we	PRON
fsr-3131	337	2	also	also	ADV
fsr-3131	337	3	did	do	AUX
fsr-3131	337	4	not	not	PART
fsr-3131	337	5	to	to	PART
fsr-3131	337	6	include	include	VERB
fsr-3131	337	7	the	the	DET
fsr-3131	337	8	dow	dow	PROPN
fsr-3131	337	9	137j.a	137j.a	PROPN
fsr-3131	337	10	.	.	PUNCT
fsr-3131	338	1	dilellio	dilellio	PROPN
fsr-3131	338	2	,	,	PUNCT
fsr-3131	338	3	r.	r.	PROPN
fsr-3131	338	4	hesse	hesse	PROPN
fsr-3131	338	5	,	,	PUNCT
fsr-3131	338	6	d.j	d.j	PROPN
fsr-3131	338	7	.	.	PROPN
fsr-3131	338	8	stanley	stanley	PROPN
fsr-3131	338	9	/	/	SYM
fsr-3131	338	10	financial	financial	ADJ
fsr-3131	338	11	services	service	NOUN
fsr-3131	338	12	review	review	VERB
fsr-3131	338	13	23	23	NUM
fsr-3131	338	14	(	(	PUNCT
fsr-3131	338	15	2014	2014	NUM
fsr-3131	338	16	)	)	PUNCT
fsr-3131	338	17	123–149	123–149	NUM
fsr-3131	338	18	industrials	industrial	NOUN
fsr-3131	338	19	index	index	NOUN
fsr-3131	338	20	as	as	ADP
fsr-3131	338	21	no	no	DET
fsr-3131	338	22	appropriate	appropriate	ADJ
fsr-3131	338	23	index	index	NOUN
fsr-3131	338	24	fund	fund	NOUN
fsr-3131	338	25	could	could	AUX
fsr-3131	338	26	be	be	AUX
fsr-3131	338	27	found	find	VERB
fsr-3131	338	28	.	.	PUNCT
fsr-3131	339	1	we	we	PRON
fsr-3131	339	2	did	do	AUX
fsr-3131	339	3	consider	consider	VERB
fsr-3131	339	4	the	the	DET
fsr-3131	339	5	use	use	NOUN
fsr-3131	339	6	of	of	ADP
fsr-3131	339	7	the	the	DET
fsr-3131	339	8	dow	dow	PROPN
fsr-3131	339	9	30	30	NUM
fsr-3131	339	10	etf	etf	NOUN
fsr-3131	339	11	index	index	NOUN
fsr-3131	339	12	fund	fund	NOUN
fsr-3131	339	13	(	(	PUNCT
fsr-3131	339	14	spdr	spdr	PROPN
fsr-3131	339	15	dow	dow	PROPN
fsr-3131	339	16	jones	jones	PROPN
fsr-3131	339	17	industrial	industrial	PROPN
fsr-3131	339	18	average	average	PROPN
fsr-3131	339	19	index	index	NOUN
fsr-3131	339	20	etf	etf	NOUN
fsr-3131	339	21	,	,	PUNCT
fsr-3131	339	22	symbol	symbol	PROPN
fsr-3131	339	23	dia	dia	PROPN
fsr-3131	339	24	)	)	PUNCT
fsr-3131	339	25	,	,	PUNCT
fsr-3131	339	26	which	which	PRON
fsr-3131	339	27	became	become	VERB
fsr-3131	339	28	available	available	ADJ
fsr-3131	339	29	on	on	ADP
fsr-3131	339	30	january	january	PROPN
fsr-3131	339	31	13	13	NUM
fsr-3131	339	32	,	,	PUNCT
fsr-3131	339	33	1998	1998	NUM
fsr-3131	339	34	.	.	PUNCT
fsr-3131	340	1	however	however	ADV
fsr-3131	340	2	,	,	PUNCT
fsr-3131	340	3	its	its	PRON
fsr-3131	340	4	high	high	ADJ
fsr-3131	340	5	degree	degree	NOUN
fsr-3131	340	6	of	of	ADP
fsr-3131	340	7	similarity	similarity	NOUN
fsr-3131	340	8	measured	measure	VERB
fsr-3131	340	9	by	by	ADP
fsr-3131	340	10	correlation	correlation	NOUN
fsr-3131	340	11	from	from	ADP
fsr-3131	340	12	2001	2001	NUM
fsr-3131	340	13	to	to	ADP
fsr-3131	340	14	2010	2010	NUM
fsr-3131	340	15	daily	daily	ADJ
fsr-3131	340	16	returns	return	NOUN
fsr-3131	340	17	against	against	ADP
fsr-3131	340	18	vfinx	vfinx	NOUN
fsr-3131	340	19	was	be	AUX
fsr-3131	340	20	0.96	0.96	NUM
fsr-3131	340	21	,	,	PUNCT
fsr-3131	340	22	suggesting	suggest	VERB
fsr-3131	340	23	it	it	PRON
fsr-3131	340	24	would	would	AUX
fsr-3131	340	25	generate	generate	VERB
fsr-3131	340	26	results	result	NOUN
fsr-3131	340	27	that	that	PRON
fsr-3131	340	28	would	would	AUX
fsr-3131	340	29	be	be	AUX
fsr-3131	340	30	very	very	ADV
fsr-3131	340	31	similar	similar	ADJ
fsr-3131	340	32	to	to	ADP
fsr-3131	340	33	those	those	PRON
fsr-3131	340	34	already	already	ADV
fsr-3131	340	35	provided	provide	VERB
fsr-3131	340	36	.	.	PUNCT
fsr-3131	341	1	our	our	PRON
fsr-3131	341	2	modeling	modeling	NOUN
fsr-3131	341	3	approach	approach	NOUN
fsr-3131	341	4	to	to	PART
fsr-3131	341	5	develop	develop	VERB
fsr-3131	341	6	the	the	DET
fsr-3131	341	7	inverse	inverse	NOUN
fsr-3131	341	8	and	and	CCONJ
fsr-3131	341	9	leveraged	leverage	VERB
fsr-3131	341	10	etf	etf	NOUN
fsr-3131	341	11	returns	return	NOUN
fsr-3131	341	12	followed	follow	VERB
fsr-3131	341	13	the	the	DET
fsr-3131	341	14	approach	approach	NOUN
fsr-3131	341	15	used	use	VERB
fsr-3131	341	16	in	in	ADP
fsr-3131	341	17	section	section	NOUN
fsr-3131	341	18	4	4	NUM
fsr-3131	341	19	.	.	PUNCT
fsr-3131	341	20	tables	table	NOUN
fsr-3131	341	21	8	8	NUM
fsr-3131	341	22	and	and	CCONJ
fsr-3131	341	23	9	9	NUM
fsr-3131	341	24	summarize	summarize	VERB
fsr-3131	341	25	the	the	DET
fsr-3131	341	26	total	total	ADJ
fsr-3131	341	27	replication	replication	NOUN
fsr-3131	341	28	expense	expense	NOUN
fsr-3131	341	29	,	,	PUNCT
fsr-3131	341	30	which	which	PRON
fsr-3131	341	31	in	in	ADP
fsr-3131	341	32	some	some	DET
fsr-3131	341	33	cases	case	NOUN
fsr-3131	341	34	,	,	PUNCT
fsr-3131	341	35	differed	differ	VERB
fsr-3131	341	36	from	from	ADP
fsr-3131	341	37	our	our	PRON
fsr-3131	341	38	previous	previous	ADJ
fsr-3131	341	39	assumption	assumption	NOUN
fsr-3131	341	40	of	of	ADP
fsr-3131	341	41	a	a	DET
fsr-3131	341	42	1	1	NUM
fsr-3131	341	43	%	%	NOUN
fsr-3131	341	44	cost	cost	NOUN
fsr-3131	341	45	.	.	PUNCT
fsr-3131	342	1	thus	thus	ADV
fsr-3131	342	2	,	,	PUNCT
fsr-3131	342	3	the	the	DET
fsr-3131	342	4	results	result	NOUN
fsr-3131	342	5	in	in	ADP
fsr-3131	342	6	this	this	DET
fsr-3131	342	7	section	section	NOUN
fsr-3131	342	8	were	be	AUX
fsr-3131	342	9	found	find	VERB
fsr-3131	342	10	by	by	ADP
fsr-3131	342	11	using	use	VERB
fsr-3131	342	12	the	the	DET
fsr-3131	342	13	total	total	ADJ
fsr-3131	342	14	replication	replication	NOUN
fsr-3131	342	15	expense	expense	NOUN
fsr-3131	342	16	determined	determine	VERB
fsr-3131	342	17	in	in	ADP
fsr-3131	342	18	the	the	DET
fsr-3131	342	19	last	last	ADJ
fsr-3131	342	20	column	column	NOUN
fsr-3131	342	21	of	of	ADP
fsr-3131	342	22	these	these	DET
fsr-3131	342	23	tables	table	NOUN
fsr-3131	342	24	.	.	PUNCT
fsr-3131	343	1	to	to	PART
fsr-3131	343	2	begin	begin	VERB
fsr-3131	343	3	understanding	understand	VERB
fsr-3131	343	4	the	the	DET
fsr-3131	343	5	potential	potential	NOUN
fsr-3131	343	6	of	of	ADP
fsr-3131	343	7	the	the	DET
fsr-3131	343	8	expanded	expand	VERB
fsr-3131	343	9	set	set	NOUN
fsr-3131	343	10	of	of	ADP
fsr-3131	343	11	funds	fund	NOUN
fsr-3131	343	12	,	,	PUNCT
fsr-3131	343	13	descriptive	descriptive	ADJ
fsr-3131	343	14	statistics	statistic	NOUN
fsr-3131	343	15	are	be	AUX
fsr-3131	343	16	once	once	ADV
fsr-3131	343	17	again	again	ADV
fsr-3131	343	18	found	find	VERB
fsr-3131	343	19	and	and	CCONJ
fsr-3131	343	20	appear	appear	VERB
fsr-3131	343	21	in	in	ADP
fsr-3131	343	22	table	table	NOUN
fsr-3131	343	23	10	10	NUM
fsr-3131	343	24	.	.	PUNCT
fsr-3131	344	1	the	the	DET
fsr-3131	344	2	top	top	ADJ
fsr-3131	344	3	panel	panel	NOUN
fsr-3131	344	4	of	of	ADP
fsr-3131	344	5	table	table	NOUN
fsr-3131	344	6	10	10	NUM
fsr-3131	344	7	shows	show	VERB
fsr-3131	344	8	the	the	DET
fsr-3131	344	9	return	return	NOUN
fsr-3131	344	10	statistics	statistic	NOUN
fsr-3131	344	11	for	for	ADP
fsr-3131	344	12	the	the	DET
fsr-3131	344	13	period	period	NOUN
fsr-3131	344	14	of	of	ADP
fsr-3131	344	15	“	"	PUNCT
fsr-3131	344	16	flat	flat	ADJ
fsr-3131	344	17	”	"	PUNCT
fsr-3131	344	18	equity	equity	NOUN
fsr-3131	344	19	prices	price	NOUN
fsr-3131	344	20	of	of	ADP
fsr-3131	344	21	2001–2010	2001–2010	NUM
fsr-3131	344	22	,	,	PUNCT
fsr-3131	344	23	while	while	SCONJ
fsr-3131	344	24	the	the	DET
fsr-3131	344	25	bottom	bottom	NOUN
fsr-3131	344	26	is	be	AUX
fsr-3131	344	27	for	for	ADP
fsr-3131	344	28	“	"	PUNCT
fsr-3131	344	29	rising	rise	VERB
fsr-3131	344	30	”	"	PUNCT
fsr-3131	344	31	equity	equity	NOUN
fsr-3131	344	32	prices	price	NOUN
fsr-3131	344	33	of	of	ADP
fsr-3131	344	34	1991–2000	1991–2000	NUM
fsr-3131	344	35	.	.	PUNCT
fsr-3131	345	1	over	over	ADP
fsr-3131	345	2	the	the	DET
fsr-3131	345	3	period	period	NOUN
fsr-3131	345	4	of	of	ADP
fsr-3131	345	5	2001–2010	2001–2010	NUM
fsr-3131	345	6	,	,	PUNCT
fsr-3131	345	7	longer	long	ADJ
fsr-3131	345	8	term	term	NOUN
fsr-3131	345	9	bonds	bond	NOUN
fsr-3131	345	10	provided	provide	VERB
fsr-3131	345	11	a	a	DET
fsr-3131	345	12	higher	high	ADJ
fsr-3131	345	13	return	return	NOUN
fsr-3131	345	14	but	but	CCONJ
fsr-3131	345	15	also	also	ADV
fsr-3131	345	16	a	a	DET
fsr-3131	345	17	higher	high	ADJ
fsr-3131	345	18	volatility	volatility	NOUN
fsr-3131	345	19	.	.	PUNCT
fsr-3131	346	1	midcaps	midcap	NOUN
fsr-3131	346	2	and	and	CCONJ
fsr-3131	346	3	small	small	ADJ
fsr-3131	346	4	-	-	PUNCT
fsr-3131	346	5	cap	cap	NOUN
fsr-3131	346	6	funds	fund	NOUN
fsr-3131	346	7	also	also	ADV
fsr-3131	346	8	generated	generate	VERB
fsr-3131	346	9	higher	high	ADJ
fsr-3131	346	10	returns	return	NOUN
fsr-3131	346	11	than	than	ADP
fsr-3131	346	12	the	the	DET
fsr-3131	346	13	s&p	s&p	PROPN
fsr-3131	346	14	500	500	NUM
fsr-3131	346	15	large	large	ADJ
fsr-3131	346	16	-	-	PUNCT
fsr-3131	346	17	cap	cap	NOUN
fsr-3131	346	18	fund	fund	NOUN
fsr-3131	346	19	(	(	PUNCT
fsr-3131	346	20	reported	report	VERB
fsr-3131	346	21	in	in	ADP
fsr-3131	346	22	table	table	NOUN
fsr-3131	346	23	3	3	NUM
fsr-3131	346	24	at	at	ADP
fsr-3131	346	25	3.51	3.51	NUM
fsr-3131	346	26	%	%	NOUN
fsr-3131	346	27	)	)	PUNCT
fsr-3131	346	28	with	with	ADP
fsr-3131	346	29	a	a	DET
fsr-3131	346	30	marginally	marginally	ADV
fsr-3131	346	31	higher	high	ADJ
fsr-3131	346	32	volatility	volatility	NOUN
fsr-3131	346	33	,	,	PUNCT
fsr-3131	346	34	whereas	whereas	SCONJ
fsr-3131	346	35	the	the	DET
fsr-3131	346	36	nasdaq	nasdaq	PROPN
fsr-3131	346	37	fund	fund	NOUN
fsr-3131	346	38	returned	return	VERB
fsr-3131	346	39	nearly	nearly	ADV
fsr-3131	346	40	the	the	DET
fsr-3131	346	41	same	same	ADJ
fsr-3131	346	42	as	as	ADP
fsr-3131	346	43	the	the	DET
fsr-3131	346	44	large	large	ADJ
fsr-3131	346	45	-	-	PUNCT
fsr-3131	346	46	cap	cap	NOUN
fsr-3131	346	47	fund	fund	NOUN
fsr-3131	346	48	,	,	PUNCT
fsr-3131	346	49	but	but	CCONJ
fsr-3131	346	50	at	at	ADP
fsr-3131	346	51	nearly	nearly	ADV
fsr-3131	346	52	three	three	NUM
fsr-3131	346	53	times	time	NOUN
fsr-3131	346	54	the	the	DET
fsr-3131	346	55	volatility	volatility	NOUN
fsr-3131	346	56	.	.	PUNCT
fsr-3131	347	1	the	the	DET
fsr-3131	347	2	results	result	NOUN
fsr-3131	347	3	over	over	ADP
fsr-3131	347	4	the	the	DET
fsr-3131	347	5	period	period	NOUN
fsr-3131	347	6	of	of	ADP
fsr-3131	347	7	1991–2000	1991–2000	NUM
fsr-3131	347	8	,	,	PUNCT
fsr-3131	347	9	a	a	DET
fsr-3131	347	10	period	period	NOUN
fsr-3131	347	11	of	of	ADP
fsr-3131	347	12	rising	rise	VERB
fsr-3131	347	13	equity	equity	NOUN
fsr-3131	347	14	prices	price	NOUN
fsr-3131	347	15	,	,	PUNCT
fsr-3131	347	16	showed	show	VERB
fsr-3131	347	17	less	less	ADJ
fsr-3131	347	18	difference	difference	NOUN
fsr-3131	347	19	between	between	ADP
fsr-3131	347	20	holding	hold	VERB
fsr-3131	347	21	a	a	DET
fsr-3131	347	22	large	large	ADJ
fsr-3131	347	23	-	-	PUNCT
fsr-3131	347	24	cap	cap	NOUN
fsr-3131	347	25	stock	stock	NOUN
fsr-3131	347	26	versus	versus	ADP
fsr-3131	347	27	holding	hold	VERB
fsr-3131	347	28	either	either	CCONJ
fsr-3131	347	29	small	small	ADJ
fsr-3131	347	30	or	or	CCONJ
fsr-3131	347	31	midcap	midcap	NOUN
fsr-3131	347	32	stocks	stock	NOUN
fsr-3131	347	33	.	.	PUNCT
fsr-3131	348	1	annualized	annualize	VERB
fsr-3131	348	2	returns	return	NOUN
fsr-3131	348	3	between	between	ADP
fsr-3131	348	4	large	large	ADJ
fsr-3131	348	5	,	,	PUNCT
fsr-3131	348	6	mid	mid	ADJ
fsr-3131	348	7	,	,	PUNCT
fsr-3131	348	8	and	and	CCONJ
fsr-3131	348	9	small	small	ADJ
fsr-3131	348	10	cap	cap	NOUN
fsr-3131	348	11	stocks	stock	NOUN
fsr-3131	348	12	are	be	AUX
fsr-3131	348	13	all	all	ADV
fsr-3131	348	14	within	within	ADP
fsr-3131	348	15	1	1	NUM
fsr-3131	348	16	%	%	NOUN
fsr-3131	348	17	of	of	ADP
fsr-3131	348	18	each	each	DET
fsr-3131	348	19	other	other	ADJ
fsr-3131	348	20	from	from	ADP
fsr-3131	348	21	1991	1991	NUM
fsr-3131	348	22	to	to	ADP
fsr-3131	348	23	2000	2000	NUM
fsr-3131	348	24	,	,	PUNCT
fsr-3131	348	25	and	and	CCONJ
fsr-3131	348	26	annualized	annualize	VERB
fsr-3131	348	27	volatilities	volatility	NOUN
fsr-3131	348	28	are	be	AUX
fsr-3131	348	29	within	within	ADP
fsr-3131	348	30	2	2	NUM
fsr-3131	348	31	%	%	NOUN
fsr-3131	348	32	of	of	ADP
fsr-3131	348	33	each	each	DET
fsr-3131	348	34	other	other	ADJ
fsr-3131	348	35	.	.	PUNCT
fsr-3131	349	1	when	when	SCONJ
fsr-3131	349	2	considering	consider	VERB
fsr-3131	349	3	the	the	DET
fsr-3131	349	4	effect	effect	NOUN
fsr-3131	349	5	of	of	ADP
fsr-3131	349	6	holding	hold	VERB
fsr-3131	349	7	the	the	DET
fsr-3131	349	8	inverse	inverse	NOUN
fsr-3131	349	9	funds	fund	NOUN
fsr-3131	349	10	over	over	ADP
fsr-3131	349	11	the	the	DET
fsr-3131	349	12	both	both	DET
fsr-3131	349	13	10	10	NUM
fsr-3131	349	14	-	-	PUNCT
fsr-3131	349	15	year	year	NOUN
fsr-3131	349	16	time	time	NOUN
fsr-3131	349	17	periods	period	NOUN
fsr-3131	349	18	,	,	PUNCT
fsr-3131	349	19	the	the	DET
fsr-3131	349	20	annualized	annualize	VERB
fsr-3131	349	21	returns	return	NOUN
fsr-3131	349	22	were	be	AUX
fsr-3131	349	23	all	all	ADV
fsr-3131	349	24	negative	negative	ADJ
fsr-3131	349	25	and	and	CCONJ
fsr-3131	349	26	slightly	slightly	ADV
fsr-3131	349	27	larger	large	ADJ
fsr-3131	349	28	in	in	ADP
fsr-3131	349	29	magnitude	magnitude	NOUN
fsr-3131	349	30	than	than	ADP
fsr-3131	349	31	their	their	PRON
fsr-3131	349	32	long	long	ADJ
fsr-3131	349	33	-	-	PUNCT
fsr-3131	349	34	index	index	NOUN
fsr-3131	349	35	counterparts	counterpart	NOUN
fsr-3131	349	36	.	.	PUNCT
fsr-3131	350	1	similarly	similarly	ADV
fsr-3131	350	2	,	,	PUNCT
fsr-3131	350	3	the	the	DET
fsr-3131	350	4	annualized	annualize	VERB
fsr-3131	350	5	returns	return	NOUN
fsr-3131	350	6	of	of	ADP
fsr-3131	350	7	holding	hold	VERB
fsr-3131	350	8	the	the	DET
fsr-3131	350	9	leveraged	leverage	VERB
fsr-3131	350	10	funds	fund	NOUN
fsr-3131	350	11	were	be	AUX
fsr-3131	350	12	all	all	ADV
fsr-3131	350	13	slightly	slightly	ADV
fsr-3131	350	14	less	less	ADJ
fsr-3131	350	15	than	than	ADP
fsr-3131	350	16	double	double	ADJ
fsr-3131	350	17	.	.	PUNCT
fsr-3131	351	1	these	these	DET
fsr-3131	351	2	results	result	NOUN
fsr-3131	351	3	are	be	AUX
fsr-3131	351	4	consistent	consistent	ADJ
fsr-3131	351	5	with	with	ADP
fsr-3131	351	6	the	the	DET
fsr-3131	351	7	higher	high	ADJ
fsr-3131	351	8	expenses	expense	NOUN
fsr-3131	351	9	table	table	NOUN
fsr-3131	351	10	6	6	NUM
fsr-3131	351	11	previously	previously	ADV
fsr-3131	351	12	assumed	assume	VERB
fsr-3131	351	13	stock	stock	NOUN
fsr-3131	351	14	fund	fund	NOUN
fsr-3131	351	15	and	and	CCONJ
fsr-3131	351	16	additional	additional	ADJ
fsr-3131	351	17	stock	stock	NOUN
fsr-3131	351	18	index	index	NOUN
fsr-3131	351	19	funds	fund	NOUN
fsr-3131	351	20	utilized	utilize	VERB
fsr-3131	351	21	to	to	PART
fsr-3131	351	22	enhance	enhance	VERB
fsr-3131	351	23	the	the	DET
fsr-3131	351	24	study	study	NOUN
fsr-3131	351	25	index	index	NOUN
fsr-3131	351	26	stock	stock	NOUN
fsr-3131	351	27	fund	fund	NOUN
fsr-3131	351	28	selected	select	VERB
fsr-3131	351	29	symbol	symbol	NOUN
fsr-3131	351	30	inception	inception	NOUN
fsr-3131	351	31	date	date	NOUN
fsr-3131	351	32	s&p	s&p	PROPN
fsr-3131	351	33	500	500	NUM
fsr-3131	351	34	vanguard	vanguard	NOUN
fsr-3131	351	35	500	500	NUM
fsr-3131	351	36	index	index	NOUN
fsr-3131	351	37	mutual	mutual	ADJ
fsr-3131	351	38	fund	fund	NOUN
fsr-3131	351	39	vfinx	vfinx	NOUN
fsr-3131	351	40	august	august	PROPN
fsr-3131	351	41	31	31	NUM
fsr-3131	351	42	,	,	PUNCT
fsr-3131	351	43	1976	1976	NUM
fsr-3131	351	44	mid	mid	ADJ
fsr-3131	351	45	-	-	ADJ
fsr-3131	351	46	caps	cap	NOUN
fsr-3131	351	47	vanguard	vanguard	NOUN
fsr-3131	351	48	extended	extend	VERB
fsr-3131	351	49	market	market	NOUN
fsr-3131	351	50	index	index	NOUN
fsr-3131	351	51	fund	fund	NOUN
fsr-3131	351	52	vexmx	vexmx	PROPN
fsr-3131	351	53	december	december	PROPN
fsr-3131	351	54	21	21	NUM
fsr-3131	351	55	,	,	PUNCT
fsr-3131	351	56	1987	1987	NUM
fsr-3131	351	57	small	small	ADJ
fsr-3131	351	58	-	-	PUNCT
fsr-3131	351	59	caps	cap	NOUN
fsr-3131	351	60	vanguard	vanguard	NOUN
fsr-3131	351	61	small	small	PROPN
fsr-3131	351	62	cap	cap	PROPN
fsr-3131	351	63	index	index	PROPN
fsr-3131	351	64	,	,	PUNCT
fsr-3131	351	65	investor	investor	NOUN
fsr-3131	351	66	class	class	NOUN
fsr-3131	351	67	naesx	naesx	NOUN
fsr-3131	351	68	october	october	PROPN
fsr-3131	351	69	10	10	NUM
fsr-3131	351	70	,	,	PUNCT
fsr-3131	351	71	1960	1960	NUM
fsr-3131	351	72	nasdaq	nasdaq	PROPN
fsr-3131	351	73	usaa	usaa	PROPN
fsr-3131	351	74	nasdaq-100	nasdaq-100	PROPN
fsr-3131	351	75	index	index	NOUN
fsr-3131	351	76	usnqx	usnqx	PROPN
fsr-3131	351	77	november	november	PROPN
fsr-3131	351	78	9	9	NUM
fsr-3131	351	79	,	,	PUNCT
fsr-3131	351	80	2000	2000	NUM
fsr-3131	351	81	notes	note	NOUN
fsr-3131	351	82	.	.	PUNCT
fsr-3131	352	1	the	the	DET
fsr-3131	352	2	first	first	ADJ
fsr-3131	352	3	row	row	NOUN
fsr-3131	352	4	of	of	ADP
fsr-3131	352	5	this	this	DET
fsr-3131	352	6	table	table	NOUN
fsr-3131	352	7	lists	list	VERB
fsr-3131	352	8	the	the	DET
fsr-3131	352	9	fund	fund	NOUN
fsr-3131	352	10	used	use	VERB
fsr-3131	352	11	in	in	ADP
fsr-3131	352	12	the	the	DET
fsr-3131	352	13	previous	previous	ADJ
fsr-3131	352	14	sections	section	NOUN
fsr-3131	352	15	.	.	PUNCT
fsr-3131	353	1	the	the	DET
fsr-3131	353	2	later	later	ADJ
fsr-3131	353	3	rows	row	NOUN
fsr-3131	353	4	show	show	VERB
fsr-3131	353	5	the	the	DET
fsr-3131	353	6	additional	additional	ADJ
fsr-3131	353	7	funds	fund	NOUN
fsr-3131	353	8	utilized	utilize	VERB
fsr-3131	353	9	in	in	ADP
fsr-3131	353	10	this	this	DET
fsr-3131	353	11	section	section	NOUN
fsr-3131	353	12	.	.	PUNCT
fsr-3131	354	1	table	table	NOUN
fsr-3131	354	2	7	7	NUM
fsr-3131	354	3	previously	previously	ADV
fsr-3131	354	4	assumed	assume	VERB
fsr-3131	354	5	bond	bond	NOUN
fsr-3131	354	6	fund	fund	NOUN
fsr-3131	354	7	and	and	CCONJ
fsr-3131	354	8	additional	additional	ADJ
fsr-3131	354	9	bond	bond	NOUN
fsr-3131	354	10	index	index	NOUN
fsr-3131	354	11	funds	fund	NOUN
fsr-3131	354	12	utilized	utilize	VERB
fsr-3131	354	13	to	to	PART
fsr-3131	354	14	enhance	enhance	VERB
fsr-3131	354	15	the	the	DET
fsr-3131	354	16	study	study	NOUN
fsr-3131	354	17	index	index	NOUN
fsr-3131	354	18	bond	bond	NOUN
fsr-3131	354	19	index	index	NOUN
fsr-3131	354	20	fund	fund	NOUN
fsr-3131	354	21	symbol	symbol	NOUN
fsr-3131	354	22	inception	inception	PROPN
fsr-3131	354	23	date	date	NOUN
fsr-3131	354	24	total	total	ADJ
fsr-3131	354	25	bond	bond	NOUN
fsr-3131	354	26	market	market	NOUN
fsr-3131	354	27	vanguard	vanguard	NOUN
fsr-3131	354	28	total	total	ADJ
fsr-3131	354	29	bond	bond	NOUN
fsr-3131	354	30	market	market	NOUN
fsr-3131	354	31	index	index	NOUN
fsr-3131	354	32	vbmfx	vbmfx	PROPN
fsr-3131	354	33	december	december	PROPN
fsr-3131	354	34	10	10	NUM
fsr-3131	354	35	,	,	PUNCT
fsr-3131	354	36	1986	1986	NUM
fsr-3131	354	37	short	short	ADJ
fsr-3131	354	38	-	-	PUNCT
fsr-3131	354	39	term	term	NOUN
fsr-3131	354	40	bond	bond	NOUN
fsr-3131	354	41	market	market	NOUN
fsr-3131	354	42	vanguard	vanguard	NOUN
fsr-3131	354	43	short	short	ADJ
fsr-3131	354	44	-	-	PUNCT
fsr-3131	354	45	term	term	NOUN
fsr-3131	354	46	bond	bond	NOUN
fsr-3131	354	47	index	index	NOUN
fsr-3131	354	48	vbisx	vbisx	NOUN
fsr-3131	354	49	february	february	PROPN
fsr-3131	354	50	28	28	NUM
fsr-3131	354	51	,	,	PUNCT
fsr-3131	354	52	1994	1994	NUM
fsr-3131	354	53	long	long	ADJ
fsr-3131	354	54	-	-	PUNCT
fsr-3131	354	55	term	term	NOUN
fsr-3131	354	56	bond	bond	NOUN
fsr-3131	354	57	market	market	NOUN
fsr-3131	354	58	vanguard	vanguard	NOUN
fsr-3131	354	59	long	long	ADJ
fsr-3131	354	60	-	-	PUNCT
fsr-3131	354	61	term	term	NOUN
fsr-3131	354	62	bond	bond	NOUN
fsr-3131	354	63	index	index	NOUN
fsr-3131	354	64	vbltx	vbltx	PROPN
fsr-3131	354	65	february	february	PROPN
fsr-3131	354	66	28	28	NUM
fsr-3131	354	67	,	,	PUNCT
fsr-3131	354	68	1994	1994	NUM
fsr-3131	354	69	notes	note	NOUN
fsr-3131	354	70	.	.	PUNCT
fsr-3131	355	1	the	the	DET
fsr-3131	355	2	first	first	ADJ
fsr-3131	355	3	row	row	NOUN
fsr-3131	355	4	of	of	ADP
fsr-3131	355	5	this	this	DET
fsr-3131	355	6	table	table	NOUN
fsr-3131	355	7	lists	list	VERB
fsr-3131	355	8	the	the	DET
fsr-3131	355	9	fund	fund	NOUN
fsr-3131	355	10	used	use	VERB
fsr-3131	355	11	in	in	ADP
fsr-3131	355	12	the	the	DET
fsr-3131	355	13	previous	previous	ADJ
fsr-3131	355	14	sections	section	NOUN
fsr-3131	355	15	.	.	PUNCT
fsr-3131	356	1	the	the	DET
fsr-3131	356	2	later	later	ADJ
fsr-3131	356	3	rows	row	NOUN
fsr-3131	356	4	show	show	VERB
fsr-3131	356	5	the	the	DET
fsr-3131	356	6	additional	additional	ADJ
fsr-3131	356	7	funds	fund	NOUN
fsr-3131	356	8	utilized	utilize	VERB
fsr-3131	356	9	in	in	ADP
fsr-3131	356	10	this	this	DET
fsr-3131	356	11	section	section	NOUN
fsr-3131	356	12	.	.	PUNCT
fsr-3131	357	1	138	138	NUM
fsr-3131	357	2	j.a	j.a	PROPN
fsr-3131	357	3	.	.	PROPN
fsr-3131	357	4	dilellio	dilellio	PROPN
fsr-3131	357	5	,	,	PUNCT
fsr-3131	357	6	r.	r.	PROPN
fsr-3131	357	7	hesse	hesse	PROPN
fsr-3131	357	8	,	,	PUNCT
fsr-3131	357	9	d.j	d.j	PROPN
fsr-3131	357	10	.	.	PROPN
fsr-3131	357	11	stanley	stanley	PROPN
fsr-3131	357	12	/	/	SYM
fsr-3131	357	13	financial	financial	ADJ
fsr-3131	357	14	services	service	NOUN
fsr-3131	357	15	review	review	VERB
fsr-3131	357	16	23	23	NUM
fsr-3131	357	17	(	(	PUNCT
fsr-3131	357	18	2014	2014	NUM
fsr-3131	357	19	)	)	PUNCT
fsr-3131	357	20	123–149	123–149	NUM
fsr-3131	357	21	associated	associate	VERB
fsr-3131	357	22	with	with	ADP
fsr-3131	357	23	these	these	DET
fsr-3131	357	24	funds	fund	NOUN
fsr-3131	357	25	,	,	PUNCT
fsr-3131	357	26	as	as	ADV
fsr-3131	357	27	well	well	ADV
fsr-3131	357	28	as	as	ADP
fsr-3131	357	29	the	the	DET
fsr-3131	357	30	effect	effect	NOUN
fsr-3131	357	31	volatility	volatility	NOUN
fsr-3131	357	32	can	can	AUX
fsr-3131	357	33	have	have	VERB
fsr-3131	357	34	on	on	ADP
fsr-3131	357	35	expected	expect	VERB
fsr-3131	357	36	returns	return	NOUN
fsr-3131	357	37	of	of	ADP
fsr-3131	357	38	these	these	DET
fsr-3131	357	39	types	type	NOUN
fsr-3131	357	40	of	of	ADP
fsr-3131	357	41	investments	investment	NOUN
fsr-3131	357	42	over	over	ADP
fsr-3131	357	43	longer	long	ADJ
fsr-3131	357	44	periods	period	NOUN
fsr-3131	357	45	(	(	PUNCT
fsr-3131	357	46	see	see	VERB
fsr-3131	357	47	lu	lu	INTJ
fsr-3131	357	48	et	et	PROPN
fsr-3131	357	49	al	al	PROPN
fsr-3131	357	50	.	.	PROPN
fsr-3131	357	51	,	,	PUNCT
fsr-3131	357	52	2012	2012	NUM
fsr-3131	357	53	)	)	PUNCT
fsr-3131	357	54	.	.	PUNCT
fsr-3131	358	1	similarly	similarly	ADV
fsr-3131	358	2	,	,	PUNCT
fsr-3131	358	3	the	the	DET
fsr-3131	358	4	leveraged	leverage	VERB
fsr-3131	358	5	funds	fund	NOUN
fsr-3131	358	6	over	over	ADP
fsr-3131	358	7	each	each	PRON
fsr-3131	358	8	of	of	ADP
fsr-3131	358	9	these	these	DET
fsr-3131	358	10	two	two	NUM
fsr-3131	358	11	time	time	NOUN
fsr-3131	358	12	periods	period	NOUN
fsr-3131	358	13	were	be	AUX
fsr-3131	358	14	also	also	ADV
fsr-3131	358	15	consistent	consistent	ADJ
fsr-3131	358	16	with	with	ADP
fsr-3131	358	17	the	the	DET
fsr-3131	358	18	longer	long	ADJ
fsr-3131	358	19	period	period	NOUN
fsr-3131	358	20	expectation	expectation	NOUN
fsr-3131	358	21	of	of	ADP
fsr-3131	358	22	providing	provide	VERB
fsr-3131	358	23	slightly	slightly	ADV
fsr-3131	358	24	less	less	ADJ
fsr-3131	358	25	than	than	ADP
fsr-3131	358	26	two	two	NUM
fsr-3131	358	27	-	-	PUNCT
fsr-3131	358	28	times	time	NOUN
fsr-3131	358	29	the	the	DET
fsr-3131	358	30	annualized	annualize	VERB
fsr-3131	358	31	return	return	NOUN
fsr-3131	358	32	of	of	ADP
fsr-3131	358	33	their	their	PRON
fsr-3131	358	34	longindex	longindex	NOUN
fsr-3131	358	35	counterpart	counterpart	NOUN
fsr-3131	358	36	,	,	PUNCT
fsr-3131	358	37	while	while	SCONJ
fsr-3131	358	38	doubling	double	VERB
fsr-3131	358	39	the	the	DET
fsr-3131	358	40	volatility	volatility	NOUN
fsr-3131	358	41	.	.	PUNCT
fsr-3131	359	1	another	another	DET
fsr-3131	359	2	notable	notable	ADJ
fsr-3131	359	3	result	result	NOUN
fsr-3131	359	4	from	from	ADP
fsr-3131	359	5	table	table	NOUN
fsr-3131	359	6	10	10	NUM
fsr-3131	359	7	is	be	AUX
fsr-3131	359	8	that	that	PRON
fsr-3131	359	9	positive	positive	ADJ
fsr-3131	359	10	annualized	annualize	VERB
fsr-3131	359	11	returns	return	NOUN
fsr-3131	359	12	generally	generally	ADV
fsr-3131	359	13	yielded	yield	VERB
fsr-3131	359	14	positive	positive	ADJ
fsr-3131	359	15	total	total	ADJ
fsr-3131	359	16	returns	return	NOUN
fsr-3131	359	17	and	and	CCONJ
fsr-3131	359	18	negative	negative	ADJ
fsr-3131	359	19	annualized	annualize	VERB
fsr-3131	359	20	returns	return	NOUN
fsr-3131	359	21	produced	produce	VERB
fsr-3131	359	22	negative	negative	ADJ
fsr-3131	359	23	total	total	ADJ
fsr-3131	359	24	returns	return	NOUN
fsr-3131	359	25	.	.	PUNCT
fsr-3131	360	1	however	however	ADV
fsr-3131	360	2	,	,	PUNCT
fsr-3131	360	3	because	because	SCONJ
fsr-3131	360	4	the	the	DET
fsr-3131	360	5	annualized	annualize	VERB
fsr-3131	360	6	returns	return	NOUN
fsr-3131	360	7	were	be	AUX
fsr-3131	360	8	obtained	obtain	VERB
fsr-3131	360	9	from	from	ADP
fsr-3131	360	10	arithmetically	arithmetically	ADV
fsr-3131	360	11	averaged	average	VERB
fsr-3131	360	12	daily	daily	ADJ
fsr-3131	360	13	returns	return	NOUN
fsr-3131	360	14	,	,	PUNCT
fsr-3131	360	15	there	there	PRON
fsr-3131	360	16	is	be	VERB
fsr-3131	360	17	a	a	DET
fsr-3131	360	18	notable	notable	ADJ
fsr-3131	360	19	exception	exception	NOUN
fsr-3131	360	20	to	to	ADP
fsr-3131	360	21	this	this	DET
fsr-3131	360	22	relationship	relationship	NOUN
fsr-3131	360	23	when	when	SCONJ
fsr-3131	360	24	the	the	DET
fsr-3131	360	25	average	average	ADJ
fsr-3131	360	26	daily	daily	ADJ
fsr-3131	360	27	returns	return	NOUN
fsr-3131	360	28	is	be	AUX
fsr-3131	360	29	very	very	ADV
fsr-3131	360	30	small	small	ADJ
fsr-3131	360	31	,	,	PUNCT
fsr-3131	360	32	as	as	ADP
fsr-3131	360	33	in	in	ADP
fsr-3131	360	34	the	the	DET
fsr-3131	360	35	case	case	NOUN
fsr-3131	360	36	of	of	ADP
fsr-3131	360	37	nasdaq	nasdaq	PROPN
fsr-3131	360	38	that	that	PRON
fsr-3131	360	39	had	have	VERB
fsr-3131	360	40	a	a	DET
fsr-3131	360	41	negative	negative	ADJ
fsr-3131	360	42	cumulative	cumulative	ADJ
fsr-3131	360	43	return	return	NOUN
fsr-3131	360	44	because	because	SCONJ
fsr-3131	360	45	of	of	ADP
fsr-3131	360	46	the	the	DET
fsr-3131	360	47	dot	dot	NOUN
fsr-3131	360	48	-	-	PUNCT
fsr-3131	360	49	com	com	NOUN
fsr-3131	360	50	crash	crash	NOUN
fsr-3131	360	51	in	in	ADP
fsr-3131	360	52	the	the	DET
fsr-3131	360	53	early	early	ADJ
fsr-3131	360	54	2000s	2000s	NUM
fsr-3131	360	55	.	.	PUNCT
fsr-3131	361	1	lastly	lastly	ADV
fsr-3131	361	2	,	,	PUNCT
fsr-3131	361	3	although	although	SCONJ
fsr-3131	361	4	there	there	PRON
fsr-3131	361	5	was	be	VERB
fsr-3131	361	6	statistical	statistical	ADJ
fsr-3131	361	7	significance	significance	NOUN
fsr-3131	361	8	between	between	ADP
fsr-3131	361	9	the	the	DET
fsr-3131	361	10	s&p	s&p	PROPN
fsr-3131	361	11	500	500	NUM
fsr-3131	361	12	returns	return	NOUN
fsr-3131	361	13	between	between	ADP
fsr-3131	361	14	1991	1991	NUM
fsr-3131	361	15	and	and	CCONJ
fsr-3131	361	16	2000	2000	NUM
fsr-3131	361	17	and	and	CCONJ
fsr-3131	361	18	2001–2010	2001–2010	NUM
fsr-3131	361	19	at	at	ADP
fsr-3131	361	20	the	the	DET
fsr-3131	361	21	0.11	0.11	NUM
fsr-3131	361	22	level	level	NOUN
fsr-3131	361	23	,	,	PUNCT
fsr-3131	361	24	there	there	PRON
fsr-3131	361	25	was	be	VERB
fsr-3131	361	26	no	no	DET
fsr-3131	361	27	statistical	statistical	ADJ
fsr-3131	361	28	difference	difference	NOUN
fsr-3131	361	29	in	in	ADP
fsr-3131	361	30	the	the	DET
fsr-3131	361	31	mid	mid	ADJ
fsr-3131	361	32	and	and	CCONJ
fsr-3131	361	33	small	small	ADJ
fsr-3131	361	34	-	-	PUNCT
fsr-3131	361	35	cap	cap	NOUN
fsr-3131	361	36	returns	return	NOUN
fsr-3131	361	37	(	(	PUNCT
fsr-3131	361	38	p	p	NOUN
fsr-3131	361	39	-	-	PUNCT
fsr-3131	361	40	values	value	NOUN
fsr-3131	361	41	�	�	PROPN
fsr-3131	361	42	0.41	0.41	NUM
fsr-3131	361	43	and	and	CCONJ
fsr-3131	361	44	0.53	0.53	NUM
fsr-3131	361	45	,	,	PUNCT
fsr-3131	361	46	respectively	respectively	ADV
fsr-3131	361	47	)	)	PUNCT
fsr-3131	361	48	.	.	PUNCT
fsr-3131	362	1	7.1	7.1	NUM
fsr-3131	362	2	.	.	PUNCT
fsr-3131	362	3	results	result	NOUN
fsr-3131	362	4	for	for	ADP
fsr-3131	362	5	midcaps	midcap	NOUN
fsr-3131	362	6	,	,	PUNCT
fsr-3131	362	7	small	small	ADJ
fsr-3131	362	8	caps	cap	NOUN
fsr-3131	362	9	,	,	PUNCT
fsr-3131	362	10	and	and	CCONJ
fsr-3131	362	11	nasdaq	nasdaq	PROPN
fsr-3131	362	12	index	index	NOUN
fsr-3131	362	13	funds	fund	NOUN
fsr-3131	362	14	tables	table	VERB
fsr-3131	362	15	11	11	NUM
fsr-3131	362	16	and	and	CCONJ
fsr-3131	362	17	12	12	NUM
fsr-3131	362	18	provide	provide	NOUN
fsr-3131	362	19	results	result	NOUN
fsr-3131	362	20	for	for	ADP
fsr-3131	362	21	terminal	terminal	ADJ
fsr-3131	362	22	wealth	wealth	NOUN
fsr-3131	362	23	and	and	CCONJ
fsr-3131	362	24	sharpe	sharpe	PROPN
fsr-3131	362	25	ratio	ratio	PROPN
fsr-3131	362	26	statistics	statistic	NOUN
fsr-3131	362	27	obtained	obtain	VERB
fsr-3131	362	28	from	from	ADP
fsr-3131	362	29	a	a	DET
fsr-3131	362	30	100,000	100,000	NUM
fsr-3131	362	31	trials	trial	NOUN
fsr-3131	362	32	using	use	VERB
fsr-3131	362	33	the	the	DET
fsr-3131	362	34	midcap	midcap	NOUN
fsr-3131	362	35	fund	fund	NOUN
fsr-3131	362	36	identified	identify	VERB
fsr-3131	362	37	in	in	ADP
fsr-3131	362	38	table	table	NOUN
fsr-3131	362	39	6	6	NUM
fsr-3131	362	40	,	,	PUNCT
fsr-3131	362	41	and	and	CCONJ
fsr-3131	362	42	simulating	simulate	VERB
fsr-3131	362	43	the	the	DET
fsr-3131	362	44	inverse	inverse	NOUN
fsr-3131	362	45	and	and	CCONJ
fsr-3131	362	46	leveraged	leveraged	ADJ
fsr-3131	362	47	version	version	NOUN
fsr-3131	362	48	of	of	ADP
fsr-3131	362	49	it	it	PRON
fsr-3131	362	50	.	.	PUNCT
fsr-3131	363	1	during	during	ADP
fsr-3131	363	2	the	the	DET
fsr-3131	363	3	period	period	NOUN
fsr-3131	363	4	of	of	ADP
fsr-3131	363	5	“	"	PUNCT
fsr-3131	363	6	flat	flat	ADJ
fsr-3131	363	7	”	"	PUNCT
fsr-3131	363	8	equity	equity	NOUN
fsr-3131	363	9	prices	price	NOUN
fsr-3131	363	10	from	from	ADP
fsr-3131	363	11	2001	2001	NUM
fsr-3131	363	12	to	to	ADP
fsr-3131	363	13	2010	2010	NUM
fsr-3131	363	14	shown	show	VERB
fsr-3131	363	15	in	in	ADP
fsr-3131	363	16	table	table	NOUN
fsr-3131	363	17	11	11	NUM
fsr-3131	363	18	,	,	PUNCT
fsr-3131	363	19	the	the	DET
fsr-3131	363	20	use	use	NOUN
fsr-3131	363	21	of	of	ADP
fsr-3131	363	22	the	the	DET
fsr-3131	363	23	inverse	inverse	NOUN
fsr-3131	363	24	midcap	midcap	NOUN
fsr-3131	363	25	fund	fund	NOUN
fsr-3131	363	26	,	,	PUNCT
fsr-3131	363	27	shown	show	VERB
fsr-3131	363	28	in	in	ADP
fsr-3131	363	29	the	the	DET
fsr-3131	363	30	upper	upper	ADJ
fsr-3131	363	31	panel	panel	NOUN
fsr-3131	363	32	,	,	PUNCT
fsr-3131	363	33	is	be	AUX
fsr-3131	363	34	consistent	consistent	ADJ
fsr-3131	363	35	with	with	ADP
fsr-3131	363	36	the	the	DET
fsr-3131	363	37	findings	finding	NOUN
fsr-3131	363	38	in	in	ADP
fsr-3131	363	39	the	the	DET
fsr-3131	363	40	previous	previous	ADJ
fsr-3131	363	41	section	section	NOUN
fsr-3131	363	42	when	when	SCONJ
fsr-3131	363	43	using	use	VERB
fsr-3131	363	44	large	large	ADJ
fsr-3131	363	45	cap	cap	NOUN
fsr-3131	363	46	funds	fund	NOUN
fsr-3131	363	47	were	be	AUX
fsr-3131	363	48	assumed	assume	VERB
fsr-3131	363	49	.	.	PUNCT
fsr-3131	364	1	specifically	specifically	ADV
fsr-3131	364	2	,	,	PUNCT
fsr-3131	364	3	the	the	DET
fsr-3131	364	4	cv	cv	PROPN
fsr-3131	364	5	-	-	PUNCT
fsr-3131	364	6	tw	tw	PROPN
fsr-3131	364	7	is	be	AUX
fsr-3131	364	8	reduced	reduce	VERB
fsr-3131	364	9	below	below	ADP
fsr-3131	364	10	the	the	DET
fsr-3131	364	11	99.9	99.9	NUM
fsr-3131	364	12	%	%	NOUN
fsr-3131	364	13	confidence	confidence	NOUN
fsr-3131	364	14	intervals	interval	NOUN
fsr-3131	364	15	of	of	ADP
fsr-3131	364	16	[	[	X
fsr-3131	364	17	0.725	0.725	NUM
fsr-3131	364	18	,	,	PUNCT
fsr-3131	364	19	0.736	0.736	NUM
fsr-3131	364	20	]	]	PUNCT
fsr-3131	364	21	,	,	PUNCT
fsr-3131	364	22	[	[	X
fsr-3131	364	23	0.596	0.596	NUM
fsr-3131	364	24	,	,	PUNCT
fsr-3131	364	25	0.603	0.603	NUM
fsr-3131	364	26	]	]	PUNCT
fsr-3131	364	27	,	,	PUNCT
fsr-3131	364	28	and	and	CCONJ
fsr-3131	364	29	[	[	X
fsr-3131	364	30	0.476	0.476	NUM
fsr-3131	364	31	,	,	PUNCT
fsr-3131	364	32	0.481	0.481	NUM
fsr-3131	364	33	]	]	PUNCT
fsr-3131	364	34	for	for	ADP
fsr-3131	364	35	the	the	DET
fsr-3131	364	36	25	25	NUM
fsr-3131	364	37	-	-	PUNCT
fsr-3131	364	38	year	year	NOUN
fsr-3131	364	39	old	old	ADJ
fsr-3131	364	40	,	,	PUNCT
fsr-3131	364	41	40	40	NUM
fsr-3131	364	42	-	-	PUNCT
fsr-3131	364	43	year	year	NOUN
fsr-3131	364	44	old	old	ADJ
fsr-3131	364	45	,	,	PUNCT
fsr-3131	364	46	and	and	CCONJ
fsr-3131	364	47	55	55	NUM
fsr-3131	364	48	-	-	PUNCT
fsr-3131	364	49	year	year	NOUN
fsr-3131	364	50	old	old	ADJ
fsr-3131	364	51	investors	investor	NOUN
fsr-3131	364	52	,	,	PUNCT
fsr-3131	364	53	when	when	SCONJ
fsr-3131	364	54	the	the	DET
fsr-3131	364	55	inverse	inverse	NOUN
fsr-3131	364	56	midcap	midcap	NOUN
fsr-3131	364	57	fund	fund	NOUN
fsr-3131	364	58	is	be	AUX
fsr-3131	364	59	used	use	VERB
fsr-3131	364	60	,	,	PUNCT
fsr-3131	364	61	indicating	indicate	VERB
fsr-3131	364	62	statistical	statistical	ADJ
fsr-3131	364	63	signifitable	signifitable	ADJ
fsr-3131	364	64	8	8	NUM
fsr-3131	364	65	selected	select	VERB
fsr-3131	364	66	proshares	proshare	NOUN
fsr-3131	364	67	short	short	ADJ
fsr-3131	364	68	(	(	PUNCT
fsr-3131	364	69	�	�	PROPN
fsr-3131	364	70	1	1	NUM
fsr-3131	364	71	�	�	PROPN
fsr-3131	364	72	)	)	PUNCT
fsr-3131	364	73	etf	etf	NOUN
fsr-3131	364	74	products	product	NOUN
fsr-3131	364	75	etf	etf	NOUN
fsr-3131	364	76	symbol	symbol	NOUN
fsr-3131	364	77	fund	fund	NOUN
fsr-3131	364	78	name	name	NOUN
fsr-3131	364	79	expense	expense	NOUN
fsr-3131	364	80	ratio	ratio	NOUN
fsr-3131	364	81	estimated	estimate	VERB
fsr-3131	364	82	bid	bid	NOUN
fsr-3131	364	83	-	-	PUNCT
fsr-3131	364	84	ask	ask	NOUN
fsr-3131	364	85	spread	spread	VERB
fsr-3131	364	86	commissions	commission	NOUN
fsr-3131	364	87	long	long	ADJ
fsr-3131	364	88	index	index	NOUN
fsr-3131	364	89	expense	expense	NOUN
fsr-3131	364	90	ratio	ratio	NOUN
fsr-3131	364	91	total	total	NOUN
fsr-3131	364	92	replication	replication	NOUN
fsr-3131	364	93	expense	expense	NOUN
fsr-3131	364	94	sh	sh	PROPN
fsr-3131	364	95	short	short	ADJ
fsr-3131	364	96	s&p	s&p	PROPN
fsr-3131	364	97	500	500	NUM
fsr-3131	364	98	0.90	0.90	NUM
fsr-3131	364	99	%	%	NOUN
fsr-3131	364	100	0.10	0.10	NUM
fsr-3131	364	101	%	%	NOUN
fsr-3131	364	102	0.2	0.2	NUM
fsr-3131	364	103	%	%	NOUN
fsr-3131	364	104	�	�	PROPN
fsr-3131	364	105	0.17	0.17	NUM
fsr-3131	364	106	%	%	NOUN
fsr-3131	364	107	1.03	1.03	NUM
fsr-3131	364	108	%	%	NOUN
fsr-3131	364	109	myy	myy	NOUN
fsr-3131	364	110	short	short	PROPN
fsr-3131	364	111	mid	mid	PROPN
fsr-3131	364	112	-	-	NOUN
fsr-3131	364	113	cap400	cap400	NOUN
fsr-3131	364	114	0.95	0.95	NUM
fsr-3131	364	115	%	%	NOUN
fsr-3131	364	116	0.37	0.37	NUM
fsr-3131	364	117	%	%	NOUN
fsr-3131	364	118	0.2	0.2	NUM
fsr-3131	364	119	%	%	NOUN
fsr-3131	364	120	�	�	NOUN
fsr-3131	364	121	0.24	0.24	NUM
fsr-3131	364	122	%	%	NOUN
fsr-3131	364	123	1.28	1.28	NUM
fsr-3131	364	124	%	%	NOUN
fsr-3131	364	125	rwm	rwm	PROPN
fsr-3131	364	126	short	short	PROPN
fsr-3131	364	127	russell	russell	PROPN
fsr-3131	364	128	2000	2000	NUM
fsr-3131	364	129	0.95	0.95	NUM
fsr-3131	364	130	%	%	NOUN
fsr-3131	364	131	0.13	0.13	NUM
fsr-3131	364	132	%	%	NOUN
fsr-3131	364	133	0.2	0.2	NUM
fsr-3131	364	134	%	%	NOUN
fsr-3131	364	135	�	�	NOUN
fsr-3131	364	136	0.24	0.24	NUM
fsr-3131	364	137	%	%	NOUN
fsr-3131	364	138	1.04	1.04	NUM
fsr-3131	364	139	%	%	NOUN
fsr-3131	364	140	psq	psq	NOUN
fsr-3131	364	141	short	short	ADJ
fsr-3131	364	142	qqq	qqq	NOUN
fsr-3131	364	143	0.95	0.95	NUM
fsr-3131	364	144	%	%	NOUN
fsr-3131	364	145	0.19	0.19	NUM
fsr-3131	364	146	%	%	NOUN
fsr-3131	364	147	0.2	0.2	NUM
fsr-3131	364	148	%	%	NOUN
fsr-3131	364	149	�	�	NOUN
fsr-3131	364	150	0.64	0.64	NUM
fsr-3131	364	151	%	%	NOUN
fsr-3131	364	152	0.7	0.7	NUM
fsr-3131	364	153	%	%	NOUN
fsr-3131	364	154	table	table	NOUN
fsr-3131	364	155	9	9	NUM
fsr-3131	364	156	selected	select	VERB
fsr-3131	364	157	proshares	proshare	NOUN
fsr-3131	364	158	leveraged	leverage	VERB
fsr-3131	364	159	(	(	PUNCT
fsr-3131	364	160	2	2	NUM
fsr-3131	364	161	�	�	NOUN
fsr-3131	364	162	)	)	PUNCT
fsr-3131	364	163	etf	etf	NOUN
fsr-3131	364	164	products	product	NOUN
fsr-3131	364	165	etf	etf	NOUN
fsr-3131	364	166	symbol	symbol	NOUN
fsr-3131	364	167	fund	fund	NOUN
fsr-3131	364	168	name	name	NOUN
fsr-3131	364	169	expense	expense	NOUN
fsr-3131	364	170	ratio	ratio	NOUN
fsr-3131	364	171	estimated	estimate	VERB
fsr-3131	364	172	bid	bid	NOUN
fsr-3131	364	173	-	-	PUNCT
fsr-3131	364	174	ask	ask	NOUN
fsr-3131	364	175	spread	spread	VERB
fsr-3131	364	176	commissions	commission	NOUN
fsr-3131	364	177	long	long	ADJ
fsr-3131	364	178	index	index	NOUN
fsr-3131	364	179	expense	expense	NOUN
fsr-3131	364	180	ratio	ratio	NOUN
fsr-3131	364	181	total	total	NOUN
fsr-3131	364	182	replication	replication	NOUN
fsr-3131	364	183	expense	expense	NOUN
fsr-3131	364	184	(	(	PUNCT
fsr-3131	364	185	annual	annual	ADJ
fsr-3131	364	186	)	)	PUNCT
fsr-3131	364	187	sso	sso	NOUN
fsr-3131	364	188	ultra	ultra	ADJ
fsr-3131	364	189	s&p	s&p	PROPN
fsr-3131	364	190	500	500	NUM
fsr-3131	364	191	0.90	0.90	NUM
fsr-3131	364	192	%	%	NOUN
fsr-3131	364	193	0.08	0.08	NUM
fsr-3131	364	194	%	%	NOUN
fsr-3131	364	195	0.2	0.2	NUM
fsr-3131	364	196	%	%	NOUN
fsr-3131	364	197	�	�	PROPN
fsr-3131	364	198	0.17	0.17	NUM
fsr-3131	364	199	%	%	NOUN
fsr-3131	364	200	1.01	1.01	NUM
fsr-3131	364	201	%	%	NOUN
fsr-3131	364	202	mvv	mvv	NOUN
fsr-3131	364	203	ultra	ultra	ADJ
fsr-3131	364	204	midcap400	midcap400	PROPN
fsr-3131	364	205	0.95	0.95	NUM
fsr-3131	364	206	%	%	NOUN
fsr-3131	364	207	0.16	0.16	NUM
fsr-3131	364	208	%	%	NOUN
fsr-3131	364	209	0.2	0.2	NUM
fsr-3131	364	210	%	%	NOUN
fsr-3131	364	211	�	�	NOUN
fsr-3131	364	212	0.24	0.24	NUM
fsr-3131	364	213	%	%	NOUN
fsr-3131	364	214	1.07	1.07	NUM
fsr-3131	364	215	%	%	NOUN
fsr-3131	364	216	uwm	uwm	PROPN
fsr-3131	364	217	ultra	ultra	PROPN
fsr-3131	364	218	russell	russell	PROPN
fsr-3131	364	219	2000	2000	NUM
fsr-3131	364	220	0.95	0.95	NUM
fsr-3131	364	221	%	%	NOUN
fsr-3131	364	222	0.15	0.15	NUM
fsr-3131	364	223	%	%	NOUN
fsr-3131	364	224	0.2	0.2	NUM
fsr-3131	364	225	%	%	NOUN
fsr-3131	364	226	�	�	NOUN
fsr-3131	364	227	0.24	0.24	NUM
fsr-3131	364	228	%	%	NOUN
fsr-3131	364	229	1.06	1.06	NUM
fsr-3131	364	230	%	%	NOUN
fsr-3131	364	231	qld	qld	PROPN
fsr-3131	364	232	ultra	ultra	PROPN
fsr-3131	364	233	qqq	qqq	NOUN
fsr-3131	364	234	0.95	0.95	NUM
fsr-3131	364	235	%	%	NOUN
fsr-3131	364	236	0.11	0.11	NUM
fsr-3131	364	237	%	%	NOUN
fsr-3131	364	238	0.2	0.2	NUM
fsr-3131	364	239	%	%	NOUN
fsr-3131	364	240	�	�	NOUN
fsr-3131	364	241	0.64	0.64	NUM
fsr-3131	364	242	%	%	NOUN
fsr-3131	364	243	0.62	0.62	NUM
fsr-3131	364	244	%	%	NOUN
fsr-3131	364	245	139j.a	139j.a	NUM
fsr-3131	364	246	.	.	PUNCT
fsr-3131	365	1	dilellio	dilellio	PROPN
fsr-3131	365	2	,	,	PUNCT
fsr-3131	365	3	r.	r.	PROPN
fsr-3131	365	4	hesse	hesse	PROPN
fsr-3131	365	5	,	,	PUNCT
fsr-3131	365	6	d.j	d.j	PROPN
fsr-3131	365	7	.	.	PROPN
fsr-3131	365	8	stanley	stanley	PROPN
fsr-3131	365	9	/	/	SYM
fsr-3131	365	10	financial	financial	ADJ
fsr-3131	365	11	services	service	NOUN
fsr-3131	365	12	review	review	VERB
fsr-3131	365	13	23	23	NUM
fsr-3131	365	14	(	(	PUNCT
fsr-3131	365	15	2014	2014	NUM
fsr-3131	365	16	)	)	PUNCT
fsr-3131	365	17	123–149	123–149	NUM
fsr-3131	365	18	cance	cance	NOUN
fsr-3131	365	19	at	at	ADP
fsr-3131	365	20	less	less	ADJ
fsr-3131	365	21	than	than	ADP
fsr-3131	365	22	0.001	0.001	NUM
fsr-3131	365	23	level	level	NOUN
fsr-3131	365	24	.	.	PUNCT
fsr-3131	366	1	the	the	DET
fsr-3131	366	2	use	use	NOUN
fsr-3131	366	3	of	of	ADP
fsr-3131	366	4	the	the	DET
fsr-3131	366	5	risk	risk	NOUN
fsr-3131	366	6	free	free	ADJ
fsr-3131	366	7	asset	asset	NOUN
fsr-3131	366	8	also	also	ADV
fsr-3131	366	9	produces	produce	VERB
fsr-3131	366	10	a	a	DET
fsr-3131	366	11	cv	cv	PROPN
fsr-3131	366	12	-	-	PUNCT
fsr-3131	366	13	tw	tw	PROPN
fsr-3131	366	14	that	that	PRON
fsr-3131	366	15	is	be	AUX
fsr-3131	366	16	lower	low	ADJ
fsr-3131	366	17	than	than	ADP
fsr-3131	366	18	this	this	DET
fsr-3131	366	19	interval	interval	NOUN
fsr-3131	366	20	,	,	PUNCT
fsr-3131	366	21	but	but	CCONJ
fsr-3131	366	22	is	be	AUX
fsr-3131	366	23	less	less	ADV
fsr-3131	366	24	statistically	statistically	ADV
fsr-3131	366	25	significant	significant	ADJ
fsr-3131	366	26	.	.	PUNCT
fsr-3131	367	1	also	also	ADV
fsr-3131	367	2	like	like	INTJ
fsr-3131	367	3	shown	show	VERB
fsr-3131	367	4	previously	previously	ADV
fsr-3131	367	5	,	,	PUNCT
fsr-3131	367	6	cv	cv	PROPN
fsr-3131	367	7	-	-	PUNCT
fsr-3131	367	8	s	s	NOUN
fsr-3131	367	9	does	do	AUX
fsr-3131	367	10	not	not	PART
fsr-3131	367	11	corroborate	corroborate	VERB
fsr-3131	367	12	this	this	DET
fsr-3131	367	13	finding	finding	NOUN
fsr-3131	367	14	,	,	PUNCT
fsr-3131	367	15	as	as	SCONJ
fsr-3131	367	16	the	the	DET
fsr-3131	367	17	use	use	NOUN
fsr-3131	367	18	of	of	ADP
fsr-3131	367	19	leveraged	leveraged	ADJ
fsr-3131	367	20	midcap	midcap	NOUN
fsr-3131	367	21	fund	fund	NOUN
fsr-3131	367	22	in	in	ADP
fsr-3131	367	23	this	this	DET
fsr-3131	367	24	period	period	NOUN
fsr-3131	367	25	of	of	ADP
fsr-3131	367	26	“	"	PUNCT
fsr-3131	367	27	flat	flat	ADJ
fsr-3131	367	28	”	"	PUNCT
fsr-3131	367	29	equity	equity	NOUN
fsr-3131	367	30	prices	price	NOUN
fsr-3131	367	31	does	do	AUX
fsr-3131	367	32	not	not	PART
fsr-3131	367	33	reduce	reduce	VERB
fsr-3131	367	34	the	the	DET
fsr-3131	367	35	cv	cv	PROPN
fsr-3131	367	36	-	-	PUNCT
fsr-3131	367	37	s	s	NOUN
fsr-3131	367	38	relative	relative	ADJ
fsr-3131	367	39	to	to	ADP
fsr-3131	367	40	the	the	DET
fsr-3131	367	41	traditional	traditional	ADJ
fsr-3131	367	42	allocation	allocation	NOUN
fsr-3131	367	43	case	case	NOUN
fsr-3131	367	44	.	.	PUNCT
fsr-3131	368	1	table	table	NOUN
fsr-3131	368	2	12	12	NUM
fsr-3131	368	3	corresponds	correspond	NOUN
fsr-3131	368	4	to	to	ADP
fsr-3131	368	5	a	a	DET
fsr-3131	368	6	period	period	NOUN
fsr-3131	368	7	of	of	ADP
fsr-3131	368	8	“	"	PUNCT
fsr-3131	368	9	rising	rise	VERB
fsr-3131	368	10	”	"	PUNCT
fsr-3131	368	11	equity	equity	NOUN
fsr-3131	368	12	prices	price	NOUN
fsr-3131	368	13	from	from	ADP
fsr-3131	368	14	1991	1991	NUM
fsr-3131	368	15	to	to	ADP
fsr-3131	368	16	2000	2000	NUM
fsr-3131	368	17	,	,	PUNCT
fsr-3131	368	18	and	and	CCONJ
fsr-3131	368	19	results	result	NOUN
fsr-3131	368	20	are	be	AUX
fsr-3131	368	21	similar	similar	ADJ
fsr-3131	368	22	to	to	ADP
fsr-3131	368	23	the	the	DET
fsr-3131	368	24	previous	previous	ADJ
fsr-3131	368	25	results	result	NOUN
fsr-3131	368	26	when	when	SCONJ
fsr-3131	368	27	the	the	DET
fsr-3131	368	28	large	large	ADJ
fsr-3131	368	29	cap	cap	NOUN
fsr-3131	368	30	fund	fund	NOUN
fsr-3131	368	31	.	.	PUNCT
fsr-3131	369	1	again	again	ADV
fsr-3131	369	2	,	,	PUNCT
fsr-3131	369	3	cv	cv	PROPN
fsr-3131	369	4	-	-	PUNCT
fsr-3131	369	5	tw	tw	PROPN
fsr-3131	369	6	is	be	AUX
fsr-3131	369	7	significantly	significantly	ADV
fsr-3131	369	8	reduced	reduce	VERB
fsr-3131	369	9	when	when	SCONJ
fsr-3131	369	10	the	the	DET
fsr-3131	369	11	inverse	inverse	NOUN
fsr-3131	369	12	fund	fund	NOUN
fsr-3131	369	13	is	be	AUX
fsr-3131	369	14	used	use	VERB
fsr-3131	369	15	instead	instead	ADV
fsr-3131	369	16	of	of	ADP
fsr-3131	369	17	the	the	DET
fsr-3131	369	18	traditional	traditional	ADJ
fsr-3131	369	19	allocation	allocation	NOUN
fsr-3131	369	20	,	,	PUNCT
fsr-3131	369	21	since	since	SCONJ
fsr-3131	369	22	each	each	DET
fsr-3131	369	23	investor	investor	NOUN
fsr-3131	369	24	’s	’s	PART
fsr-3131	369	25	cv	cv	PROPN
fsr-3131	369	26	-	-	PUNCT
fsr-3131	369	27	tw	tw	PROPN
fsr-3131	369	28	is	be	AUX
fsr-3131	369	29	outside	outside	ADP
fsr-3131	369	30	the	the	DET
fsr-3131	369	31	99.9	99.9	NUM
fsr-3131	369	32	%	%	NOUN
fsr-3131	369	33	confidence	confidence	NOUN
fsr-3131	369	34	interval	interval	NOUN
fsr-3131	369	35	obtained	obtain	VERB
fsr-3131	369	36	for	for	ADP
fsr-3131	369	37	the	the	DET
fsr-3131	369	38	traditional	traditional	ADJ
fsr-3131	369	39	allocation	allocation	NOUN
fsr-3131	369	40	of	of	ADP
fsr-3131	369	41	[	[	X
fsr-3131	369	42	0.565	0.565	NUM
fsr-3131	369	43	,	,	PUNCT
fsr-3131	369	44	0.571	0.571	NUM
fsr-3131	369	45	]	]	X
fsr-3131	369	46	,	,	PUNCT
fsr-3131	369	47	[	[	X
fsr-3131	369	48	0.476	0.476	NUM
fsr-3131	369	49	,	,	PUNCT
fsr-3131	369	50	0.481	0.481	NUM
fsr-3131	369	51	]	]	PUNCT
fsr-3131	369	52	,	,	PUNCT
fsr-3131	369	53	and	and	CCONJ
fsr-3131	369	54	[	[	X
fsr-3131	369	55	0.390	0.390	NUM
fsr-3131	369	56	,	,	PUNCT
fsr-3131	369	57	0.393	0.393	NUM
fsr-3131	369	58	]	]	PUNCT
fsr-3131	369	59	.	.	PUNCT
fsr-3131	370	1	a	a	DET
fsr-3131	370	2	similar	similar	ADJ
fsr-3131	370	3	,	,	PUNCT
fsr-3131	370	4	but	but	CCONJ
fsr-3131	370	5	less	less	ADV
fsr-3131	370	6	statistically	statistically	ADV
fsr-3131	370	7	significant	significant	ADJ
fsr-3131	370	8	reduction	reduction	NOUN
fsr-3131	370	9	occurs	occur	VERB
fsr-3131	370	10	when	when	SCONJ
fsr-3131	370	11	the	the	DET
fsr-3131	370	12	risk	risk	NOUN
fsr-3131	370	13	-	-	PUNCT
fsr-3131	370	14	free	free	ADJ
fsr-3131	370	15	asset	asset	NOUN
fsr-3131	370	16	is	be	AUX
fsr-3131	370	17	used	use	VERB
fsr-3131	370	18	in	in	ADP
fsr-3131	370	19	the	the	DET
fsr-3131	370	20	alternative	alternative	ADJ
fsr-3131	370	21	allocation	allocation	NOUN
fsr-3131	370	22	.	.	PUNCT
fsr-3131	371	1	the	the	DET
fsr-3131	371	2	cv	cv	PROPN
fsr-3131	371	3	-	-	PUNCT
fsr-3131	371	4	s	s	PART
fsr-3131	371	5	is	be	AUX
fsr-3131	371	6	not	not	PART
fsr-3131	371	7	reduced	reduce	VERB
fsr-3131	371	8	when	when	SCONJ
fsr-3131	371	9	the	the	DET
fsr-3131	371	10	inverse	inverse	NOUN
fsr-3131	371	11	fund	fund	NOUN
fsr-3131	371	12	is	be	AUX
fsr-3131	371	13	used	use	VERB
fsr-3131	371	14	,	,	PUNCT
fsr-3131	371	15	which	which	PRON
fsr-3131	371	16	is	be	AUX
fsr-3131	371	17	consistent	consistent	ADJ
fsr-3131	371	18	with	with	ADP
fsr-3131	371	19	previous	previous	ADJ
fsr-3131	371	20	results	result	NOUN
fsr-3131	371	21	.	.	PUNCT
fsr-3131	372	1	as	as	SCONJ
fsr-3131	372	2	seen	see	VERB
fsr-3131	372	3	previously	previously	ADV
fsr-3131	372	4	,	,	PUNCT
fsr-3131	372	5	this	this	DET
fsr-3131	372	6	period	period	NOUN
fsr-3131	372	7	of	of	ADP
fsr-3131	372	8	rising	rise	VERB
fsr-3131	372	9	equity	equity	NOUN
fsr-3131	372	10	prices	price	NOUN
fsr-3131	372	11	does	do	AUX
fsr-3131	372	12	not	not	PART
fsr-3131	372	13	show	show	VERB
fsr-3131	372	14	any	any	DET
fsr-3131	372	15	benefit	benefit	NOUN
fsr-3131	372	16	of	of	ADP
fsr-3131	372	17	the	the	DET
fsr-3131	372	18	use	use	NOUN
fsr-3131	372	19	of	of	ADP
fsr-3131	372	20	the	the	DET
fsr-3131	372	21	leveraged	leverage	VERB
fsr-3131	372	22	fund	fund	NOUN
fsr-3131	372	23	based	base	VERB
fsr-3131	372	24	on	on	ADP
fsr-3131	372	25	the	the	DET
fsr-3131	372	26	cv	cv	PROPN
fsr-3131	372	27	-	-	PUNCT
fsr-3131	372	28	tw	tw	PROPN
fsr-3131	372	29	.	.	PUNCT
fsr-3131	373	1	again	again	ADV
fsr-3131	373	2	,	,	PUNCT
fsr-3131	373	3	the	the	DET
fsr-3131	373	4	use	use	NOUN
fsr-3131	373	5	of	of	ADP
fsr-3131	373	6	the	the	DET
fsr-3131	373	7	leveraged	leverage	VERB
fsr-3131	373	8	fund	fund	NOUN
fsr-3131	373	9	provides	provide	VERB
fsr-3131	373	10	an	an	DET
fsr-3131	373	11	improvement	improvement	NOUN
fsr-3131	373	12	to	to	ADP
fsr-3131	373	13	the	the	DET
fsr-3131	373	14	cv	cv	PROPN
fsr-3131	373	15	-	-	PUNCT
fsr-3131	373	16	s	s	NOUN
fsr-3131	373	17	over	over	ADP
fsr-3131	373	18	the	the	DET
fsr-3131	373	19	traditional	traditional	ADJ
fsr-3131	373	20	allocation	allocation	NOUN
fsr-3131	373	21	,	,	PUNCT
fsr-3131	373	22	based	base	VERB
fsr-3131	373	23	on	on	ADP
fsr-3131	373	24	the	the	DET
fsr-3131	373	25	values	value	NOUN
fsr-3131	373	26	of	of	ADP
fsr-3131	373	27	0.474	0.474	NUM
fsr-3131	373	28	,	,	PUNCT
fsr-3131	373	29	0.459	0.459	NUM
fsr-3131	373	30	,	,	PUNCT
fsr-3131	373	31	and	and	CCONJ
fsr-3131	373	32	0.441	0.441	NUM
fsr-3131	373	33	all	all	ADV
fsr-3131	373	34	lower	low	ADJ
fsr-3131	373	35	than	than	ADP
fsr-3131	373	36	the	the	DET
fsr-3131	373	37	lower	low	ADJ
fsr-3131	373	38	bound	bind	VERB
fsr-3131	373	39	on	on	ADP
fsr-3131	373	40	the	the	DET
fsr-3131	373	41	99.9	99.9	NUM
fsr-3131	373	42	%	%	NOUN
fsr-3131	373	43	confidence	confidence	NOUN
fsr-3131	373	44	interval	interval	NOUN
fsr-3131	373	45	for	for	ADP
fsr-3131	373	46	cv	cv	PROPN
fsr-3131	373	47	-	-	PUNCT
fsr-3131	373	48	s	s	X
fsr-3131	373	49	of	of	ADP
fsr-3131	373	50	[	[	X
fsr-3131	373	51	0.487	0.487	NUM
fsr-3131	373	52	,	,	PUNCT
fsr-3131	373	53	0.492	0.492	NUM
fsr-3131	373	54	]	]	PUNCT
fsr-3131	373	55	,	,	PUNCT
fsr-3131	373	56	[	[	X
fsr-3131	373	57	0.469	0.469	NUM
fsr-3131	373	58	,	,	PUNCT
fsr-3131	373	59	0.473	0.473	NUM
fsr-3131	373	60	]	]	PUNCT
fsr-3131	373	61	,	,	PUNCT
fsr-3131	373	62	and	and	CCONJ
fsr-3131	373	63	[	[	X
fsr-3131	373	64	0.442	0.442	NUM
fsr-3131	373	65	,	,	PUNCT
fsr-3131	373	66	0.447	0.447	NUM
fsr-3131	373	67	]	]	PUNCT
fsr-3131	373	68	.	.	PUNCT
fsr-3131	374	1	tables	table	NOUN
fsr-3131	374	2	13	13	NUM
fsr-3131	374	3	and	and	CCONJ
fsr-3131	374	4	14	14	NUM
fsr-3131	374	5	provide	provide	VERB
fsr-3131	374	6	results	result	NOUN
fsr-3131	374	7	for	for	ADP
fsr-3131	374	8	terminal	terminal	ADJ
fsr-3131	374	9	wealth	wealth	NOUN
fsr-3131	374	10	and	and	CCONJ
fsr-3131	374	11	sharpe	sharpe	PROPN
fsr-3131	374	12	ratio	ratio	PROPN
fsr-3131	374	13	statistics	statistic	NOUN
fsr-3131	374	14	obtained	obtain	VERB
fsr-3131	374	15	from	from	ADP
fsr-3131	374	16	a	a	DET
fsr-3131	374	17	100,000	100,000	NUM
fsr-3131	374	18	trials	trial	NOUN
fsr-3131	374	19	using	use	VERB
fsr-3131	374	20	a	a	DET
fsr-3131	374	21	small	small	ADJ
fsr-3131	374	22	-	-	PUNCT
fsr-3131	374	23	cap	cap	NOUN
fsr-3131	374	24	fund	fund	NOUN
fsr-3131	374	25	.	.	PUNCT
fsr-3131	375	1	the	the	DET
fsr-3131	375	2	period	period	NOUN
fsr-3131	375	3	of	of	ADP
fsr-3131	375	4	“	"	PUNCT
fsr-3131	375	5	flat	flat	ADJ
fsr-3131	375	6	”	"	PUNCT
fsr-3131	375	7	equity	equity	NOUN
fsr-3131	375	8	prices	price	NOUN
fsr-3131	375	9	from	from	ADP
fsr-3131	375	10	2001	2001	NUM
fsr-3131	375	11	to	to	ADP
fsr-3131	375	12	2010	2010	NUM
fsr-3131	375	13	shown	show	VERB
fsr-3131	375	14	in	in	ADP
fsr-3131	375	15	table	table	NOUN
fsr-3131	375	16	13	13	NUM
fsr-3131	375	17	indicates	indicate	VERB
fsr-3131	375	18	the	the	DET
fsr-3131	375	19	previous	previous	ADJ
fsr-3131	375	20	results	result	NOUN
fsr-3131	375	21	hold	hold	VERB
fsr-3131	375	22	,	,	PUNCT
fsr-3131	375	23	where	where	SCONJ
fsr-3131	375	24	the	the	DET
fsr-3131	375	25	use	use	NOUN
fsr-3131	375	26	of	of	ADP
fsr-3131	375	27	the	the	DET
fsr-3131	375	28	inverse	inverse	NOUN
fsr-3131	375	29	fund	fund	NOUN
fsr-3131	375	30	reduces	reduce	VERB
fsr-3131	375	31	the	the	DET
fsr-3131	375	32	cv	cv	PROPN
fsr-3131	375	33	-	-	PUNCT
fsr-3131	375	34	tw	tw	NOUN
fsr-3131	375	35	below	below	ADP
fsr-3131	375	36	the	the	DET
fsr-3131	375	37	99.9	99.9	NUM
fsr-3131	375	38	%	%	NOUN
fsr-3131	375	39	confidence	confidence	NOUN
fsr-3131	375	40	interval	interval	NOUN
fsr-3131	375	41	for	for	ADP
fsr-3131	375	42	the	the	DET
fsr-3131	375	43	traditional	traditional	ADJ
fsr-3131	375	44	allocation	allocation	NOUN
fsr-3131	375	45	of	of	ADP
fsr-3131	375	46	[	[	X
fsr-3131	375	47	0.747	0.747	NUM
fsr-3131	375	48	,	,	PUNCT
fsr-3131	375	49	0.759	0.759	NUM
fsr-3131	375	50	]	]	PUNCT
fsr-3131	375	51	,	,	PUNCT
fsr-3131	375	52	[	[	X
fsr-3131	375	53	0.617	0.617	NUM
fsr-3131	375	54	,	,	PUNCT
fsr-3131	375	55	0.625	0.625	NUM
fsr-3131	375	56	]	]	PUNCT
fsr-3131	375	57	,	,	PUNCT
fsr-3131	375	58	and	and	CCONJ
fsr-3131	375	59	[	[	X
fsr-3131	375	60	0.494	0.494	NUM
fsr-3131	375	61	,	,	PUNCT
fsr-3131	375	62	0.499	0.499	NUM
fsr-3131	375	63	]	]	PUNCT
fsr-3131	375	64	for	for	ADP
fsr-3131	375	65	the	the	DET
fsr-3131	375	66	25	25	NUM
fsr-3131	375	67	-	-	PUNCT
fsr-3131	375	68	year	year	NOUN
fsr-3131	375	69	old	old	ADJ
fsr-3131	375	70	,	,	PUNCT
fsr-3131	375	71	40	40	NUM
fsr-3131	375	72	-	-	PUNCT
fsr-3131	375	73	year	year	NOUN
fsr-3131	375	74	old	old	ADJ
fsr-3131	375	75	,	,	PUNCT
fsr-3131	375	76	and	and	CCONJ
fsr-3131	375	77	table	table	NOUN
fsr-3131	375	78	10	10	NUM
fsr-3131	375	79	return	return	NOUN
fsr-3131	375	80	statistics	statistic	NOUN
fsr-3131	375	81	from	from	ADP
fsr-3131	375	82	daily	daily	ADJ
fsr-3131	375	83	returns	return	NOUN
fsr-3131	375	84	over	over	ADP
fsr-3131	375	85	historical	historical	ADJ
fsr-3131	375	86	10	10	NUM
fsr-3131	375	87	-	-	PUNCT
fsr-3131	375	88	year	year	NOUN
fsr-3131	375	89	periods	period	NOUN
fsr-3131	375	90	return	return	NOUN
fsr-3131	375	91	(	(	PUNCT
fsr-3131	375	92	annualized	annualize	VERB
fsr-3131	375	93	)	)	PUNCT
fsr-3131	375	94	standard	standard	ADJ
fsr-3131	375	95	deviation	deviation	NOUN
fsr-3131	375	96	(	(	PUNCT
fsr-3131	375	97	annualized	annualize	VERB
fsr-3131	375	98	)	)	PUNCT
fsr-3131	375	99	total	total	ADJ
fsr-3131	375	100	return	return	NOUN
fsr-3131	375	101	bonds	bond	NOUN
fsr-3131	375	102	(	(	PUNCT
fsr-3131	375	103	short	short	ADJ
fsr-3131	375	104	term	term	NOUN
fsr-3131	375	105	)	)	PUNCT
fsr-3131	375	106	4.27	4.27	NUM
fsr-3131	375	107	%	%	NOUN
fsr-3131	375	108	2.88	2.88	NUM
fsr-3131	375	109	%	%	NOUN
fsr-3131	375	110	55.8	55.8	NUM
fsr-3131	375	111	%	%	NOUN
fsr-3131	375	112	bonds	bond	NOUN
fsr-3131	375	113	(	(	PUNCT
fsr-3131	375	114	long	long	ADJ
fsr-3131	375	115	term	term	NOUN
fsr-3131	375	116	)	)	PUNCT
fsr-3131	375	117	7.00	7.00	NUM
fsr-3131	375	118	%	%	NOUN
fsr-3131	375	119	9.88	9.88	NUM
fsr-3131	375	120	%	%	NOUN
fsr-3131	375	121	97.9	97.9	NUM
fsr-3131	375	122	%	%	NOUN
fsr-3131	375	123	mid	mid	NOUN
fsr-3131	375	124	-	-	NOUN
fsr-3131	375	125	cap	cap	NOUN
fsr-3131	375	126	8.31	8.31	NUM
fsr-3131	375	127	%	%	NOUN
fsr-3131	375	128	23.5	23.5	NUM
fsr-3131	375	129	%	%	NOUN
fsr-3131	375	130	78.9	78.9	NUM
fsr-3131	375	131	%	%	NOUN
fsr-3131	375	132	inverse	inverse	NOUN
fsr-3131	375	133	mid	mid	PROPN
fsr-3131	375	134	-	-	NOUN
fsr-3131	375	135	cap	cap	ADJ
fsr-3131	375	136	�	�	NOUN
fsr-3131	375	137	9.59	9.59	NUM
fsr-3131	375	138	%	%	NOUN
fsr-3131	375	139	23.5	23.5	NUM
fsr-3131	375	140	%	%	NOUN
fsr-3131	375	141	�	�	NOUN
fsr-3131	375	142	72.6	72.6	NUM
fsr-3131	375	143	%	%	NOUN
fsr-3131	375	144	leveraged	leverage	VERB
fsr-3131	375	145	mid	mid	NOUN
fsr-3131	375	146	-	-	NOUN
fsr-3131	375	147	cap	cap	NOUN
fsr-3131	375	148	15.6	15.6	NUM
fsr-3131	375	149	%	%	NOUN
fsr-3131	375	150	47.0	47.0	NUM
fsr-3131	375	151	%	%	NOUN
fsr-3131	375	152	59.4	59.4	NUM
fsr-3131	375	153	%	%	NOUN
fsr-3131	375	154	small	small	ADJ
fsr-3131	375	155	-	-	PUNCT
fsr-3131	375	156	cap	cap	NOUN
fsr-3131	375	157	9.68	9.68	NUM
fsr-3131	375	158	%	%	NOUN
fsr-3131	375	159	24.6	24.6	NUM
fsr-3131	375	160	%	%	NOUN
fsr-3131	375	161	100.9	100.9	NUM
fsr-3131	375	162	%	%	NOUN
fsr-3131	375	163	inverse	inverse	ADJ
fsr-3131	375	164	small	small	ADJ
fsr-3131	375	165	-	-	PUNCT
fsr-3131	375	166	cap	cap	NOUN
fsr-3131	375	167	�	�	NOUN
fsr-3131	375	168	10.7	10.7	NUM
fsr-3131	375	169	%	%	NOUN
fsr-3131	375	170	24.6	24.6	NUM
fsr-3131	375	171	%	%	NOUN
fsr-3131	375	172	�	�	NOUN
fsr-3131	375	173	76.3	76.3	NUM
fsr-3131	375	174	%	%	NOUN
fsr-3131	375	175	leveraged	leverage	VERB
fsr-3131	375	176	small	small	ADJ
fsr-3131	375	177	-	-	PUNCT
fsr-3131	375	178	cap	cap	NOUN
fsr-3131	375	179	18.30	18.30	NUM
fsr-3131	375	180	%	%	NOUN
fsr-3131	375	181	49.1	49.1	NUM
fsr-3131	375	182	%	%	NOUN
fsr-3131	375	183	90.7	90.7	NUM
fsr-3131	375	184	%	%	NOUN
fsr-3131	375	185	nasdaq	nasdaq	NOUN
fsr-3131	375	186	3.55	3.55	NUM
fsr-3131	375	187	%	%	NOUN
fsr-3131	375	188	30.2	30.2	NUM
fsr-3131	375	189	%	%	NOUN
fsr-3131	375	190	�	�	NOUN
fsr-3131	375	191	9.76	9.76	NUM
fsr-3131	375	192	%	%	NOUN
fsr-3131	375	193	inverse	inverse	NOUN
fsr-3131	375	194	nasdaq	nasdaq	PROPN
fsr-3131	375	195	�	�	PROPN
fsr-3131	375	196	4.25	4.25	NUM
fsr-3131	375	197	%	%	NOUN
fsr-3131	375	198	30.2	30.2	NUM
fsr-3131	375	199	%	%	NOUN
fsr-3131	375	200	�	�	NOUN
fsr-3131	375	201	60.4	60.4	NUM
fsr-3131	375	202	%	%	NOUN
fsr-3131	375	203	leveraged	leverage	VERB
fsr-3131	375	204	nasdaq	nasdaq	NOUN
fsr-3131	375	205	6.48	6.48	NUM
fsr-3131	375	206	%	%	NOUN
fsr-3131	375	207	60.3	60.3	NUM
fsr-3131	375	208	%	%	NOUN
fsr-3131	375	209	�	�	NOUN
fsr-3131	375	210	70.4	70.4	NUM
fsr-3131	375	211	%	%	NOUN
fsr-3131	375	212	“	"	PUNCT
fsr-3131	375	213	flat	flat	ADJ
fsr-3131	375	214	”	"	PUNCT
fsr-3131	375	215	january	january	PROPN
fsr-3131	375	216	2	2	NUM
fsr-3131	375	217	,	,	PUNCT
fsr-3131	375	218	2001	2001	NUM
fsr-3131	375	219	to	to	ADP
fsr-3131	375	220	december	december	PROPN
fsr-3131	375	221	31	31	NUM
fsr-3131	375	222	,	,	PUNCT
fsr-3131	375	223	2010	2010	NUM
fsr-3131	375	224	,	,	PUNCT
fsr-3131	375	225	n	n	X
fsr-3131	375	226	�	�	PROPN
fsr-3131	375	227	2515	2515	NUM
fsr-3131	375	228	samples	sample	VERB
fsr-3131	375	229	mid	mid	NOUN
fsr-3131	375	230	-	-	NOUN
fsr-3131	375	231	cap	cap	NOUN
fsr-3131	375	232	15.6	15.6	NUM
fsr-3131	375	233	%	%	NOUN
fsr-3131	375	234	16.1	16.1	NUM
fsr-3131	375	235	%	%	NOUN
fsr-3131	375	236	349.4	349.4	NUM
fsr-3131	375	237	%	%	NOUN
fsr-3131	375	238	inverse	inverse	NOUN
fsr-3131	375	239	mid	mid	PROPN
fsr-3131	375	240	-	-	NOUN
fsr-3131	375	241	cap	cap	ADJ
fsr-3131	375	242	�	�	NOUN
fsr-3131	375	243	16.9	16.9	NUM
fsr-3131	375	244	%	%	NOUN
fsr-3131	375	245	16.1	16.1	NUM
fsr-3131	375	246	%	%	NOUN
fsr-3131	375	247	�	�	NOUN
fsr-3131	375	248	85.2	85.2	NUM
fsr-3131	375	249	%	%	NOUN
fsr-3131	375	250	leveraged	leverage	VERB
fsr-3131	375	251	mid	mid	NOUN
fsr-3131	375	252	-	-	NOUN
fsr-3131	375	253	cap	cap	NOUN
fsr-3131	375	254	30.1	30.1	NUM
fsr-3131	375	255	%	%	NOUN
fsr-3131	375	256	32.3	32.3	NUM
fsr-3131	375	257	%	%	NOUN
fsr-3131	375	258	1267.6	1267.6	NUM
fsr-3131	375	259	%	%	NOUN
fsr-3131	375	260	small	small	ADJ
fsr-3131	375	261	-	-	PUNCT
fsr-3131	375	262	cap	cap	NOUN
fsr-3131	375	263	15.3	15.3	NUM
fsr-3131	375	264	%	%	NOUN
fsr-3131	375	265	14.6	14.6	NUM
fsr-3131	375	266	%	%	NOUN
fsr-3131	375	267	346.7	346.7	NUM
fsr-3131	375	268	%	%	NOUN
fsr-3131	375	269	inverse	inverse	ADJ
fsr-3131	375	270	small	small	ADJ
fsr-3131	375	271	-	-	PUNCT
fsr-3131	375	272	cap	cap	NOUN
fsr-3131	375	273	�	�	NOUN
fsr-3131	375	274	16.3	16.3	NUM
fsr-3131	375	275	%	%	NOUN
fsr-3131	375	276	14.6	14.6	NUM
fsr-3131	375	277	%	%	NOUN
fsr-3131	375	278	�	�	NOUN
fsr-3131	375	279	84.0	84.0	NUM
fsr-3131	375	280	%	%	NOUN
fsr-3131	375	281	leveraged	leverage	VERB
fsr-3131	375	282	small	small	ADJ
fsr-3131	375	283	-	-	PUNCT
fsr-3131	375	284	cap	cap	NOUN
fsr-3131	375	285	29.5	29.5	NUM
fsr-3131	375	286	%	%	NOUN
fsr-3131	375	287	29.2	29.2	NUM
fsr-3131	375	288	%	%	NOUN
fsr-3131	375	289	1322.0	1322.0	NUM
fsr-3131	375	290	%	%	NOUN
fsr-3131	375	291	“	"	PUNCT
fsr-3131	375	292	rising	rise	VERB
fsr-3131	375	293	”	"	PUNCT
fsr-3131	375	294	january	january	PROPN
fsr-3131	375	295	2	2	NUM
fsr-3131	375	296	,	,	PUNCT
fsr-3131	375	297	1991	1991	NUM
fsr-3131	375	298	to	to	ADP
fsr-3131	375	299	december	december	PROPN
fsr-3131	375	300	29	29	NUM
fsr-3131	375	301	,	,	PUNCT
fsr-3131	375	302	2000	2000	NUM
fsr-3131	375	303	,	,	PUNCT
fsr-3131	375	304	n	n	X
fsr-3131	375	305	�	�	PROPN
fsr-3131	375	306	2527	2527	NUM
fsr-3131	375	307	samples	sample	NOUN
fsr-3131	375	308	notes	note	NOUN
fsr-3131	375	309	.	.	PUNCT
fsr-3131	376	1	this	this	DET
fsr-3131	376	2	table	table	NOUN
fsr-3131	376	3	shows	show	VERB
fsr-3131	376	4	the	the	DET
fsr-3131	376	5	return	return	NOUN
fsr-3131	376	6	statistics	statistic	NOUN
fsr-3131	376	7	from	from	ADP
fsr-3131	376	8	the	the	DET
fsr-3131	376	9	two	two	NUM
fsr-3131	376	10	10	10	NUM
fsr-3131	376	11	-	-	PUNCT
fsr-3131	376	12	year	year	NOUN
fsr-3131	376	13	periods	period	NOUN
fsr-3131	376	14	observed	observe	VERB
fsr-3131	376	15	from	from	ADP
fsr-3131	376	16	adjusted	adjust	VERB
fsr-3131	376	17	closing	closing	NOUN
fsr-3131	376	18	prices	price	NOUN
fsr-3131	376	19	of	of	ADP
fsr-3131	376	20	stock	stock	NOUN
fsr-3131	376	21	and	and	CCONJ
fsr-3131	376	22	bond	bond	NOUN
fsr-3131	376	23	market	market	NOUN
fsr-3131	376	24	proxies	proxy	NOUN
fsr-3131	376	25	.	.	PUNCT
fsr-3131	377	1	inverse	inverse	NOUN
fsr-3131	377	2	and	and	CCONJ
fsr-3131	377	3	leveraged	leverage	VERB
fsr-3131	377	4	stock	stock	NOUN
fsr-3131	377	5	return	return	NOUN
fsr-3131	377	6	statistics	statistic	NOUN
fsr-3131	377	7	are	be	AUX
fsr-3131	377	8	generated	generate	VERB
fsr-3131	377	9	assuming	assume	VERB
fsr-3131	377	10	perfect	perfect	ADJ
fsr-3131	377	11	replication	replication	NOUN
fsr-3131	377	12	of	of	ADP
fsr-3131	377	13	negative	negative	ADJ
fsr-3131	377	14	and	and	CCONJ
fsr-3131	377	15	double	double	ADJ
fsr-3131	377	16	daily	daily	ADJ
fsr-3131	377	17	return	return	NOUN
fsr-3131	377	18	from	from	ADP
fsr-3131	377	19	the	the	DET
fsr-3131	377	20	stock	stock	NOUN
fsr-3131	377	21	return	return	NOUN
fsr-3131	377	22	,	,	PUNCT
fsr-3131	377	23	respectively	respectively	ADV
fsr-3131	377	24	,	,	PUNCT
fsr-3131	377	25	along	along	ADP
fsr-3131	377	26	with	with	ADP
fsr-3131	377	27	incurring	incur	VERB
fsr-3131	377	28	an	an	DET
fsr-3131	377	29	average	average	ADJ
fsr-3131	377	30	daily	daily	ADJ
fsr-3131	377	31	expense	expense	NOUN
fsr-3131	377	32	as	as	SCONJ
fsr-3131	377	33	shown	show	VERB
fsr-3131	377	34	in	in	ADP
fsr-3131	377	35	tables	table	NOUN
fsr-3131	377	36	8	8	NUM
fsr-3131	377	37	and	and	CCONJ
fsr-3131	377	38	9	9	NUM
fsr-3131	377	39	.	.	NOUN
fsr-3131	377	40	140	140	NUM
fsr-3131	377	41	j.a	j.a	PROPN
fsr-3131	377	42	.	.	PROPN
fsr-3131	377	43	dilellio	dilellio	PROPN
fsr-3131	377	44	,	,	PUNCT
fsr-3131	377	45	r.	r.	PROPN
fsr-3131	377	46	hesse	hesse	PROPN
fsr-3131	377	47	,	,	PUNCT
fsr-3131	377	48	d.j	d.j	PROPN
fsr-3131	377	49	.	.	PROPN
fsr-3131	377	50	stanley	stanley	PROPN
fsr-3131	377	51	/	/	SYM
fsr-3131	377	52	financial	financial	ADJ
fsr-3131	377	53	services	service	NOUN
fsr-3131	377	54	review	review	VERB
fsr-3131	377	55	23	23	NUM
fsr-3131	377	56	(	(	PUNCT
fsr-3131	377	57	2014	2014	NUM
fsr-3131	377	58	)	)	PUNCT
fsr-3131	378	1	123–149	123–149	NUM
fsr-3131	378	2	55	55	NUM
fsr-3131	378	3	-	-	PUNCT
fsr-3131	378	4	year	year	NOUN
fsr-3131	378	5	old	old	ADJ
fsr-3131	378	6	,	,	PUNCT
fsr-3131	378	7	respectively	respectively	ADV
fsr-3131	378	8	.	.	PUNCT
fsr-3131	379	1	a	a	DET
fsr-3131	379	2	similar	similar	ADJ
fsr-3131	379	3	,	,	PUNCT
fsr-3131	379	4	but	but	CCONJ
fsr-3131	379	5	less	less	ADV
fsr-3131	379	6	significant	significant	ADJ
fsr-3131	379	7	reduction	reduction	NOUN
fsr-3131	379	8	occurs	occur	VERB
fsr-3131	379	9	if	if	SCONJ
fsr-3131	379	10	the	the	DET
fsr-3131	379	11	risk	risk	NOUN
fsr-3131	379	12	-	-	PUNCT
fsr-3131	379	13	free	free	ADJ
fsr-3131	379	14	asset	asset	NOUN
fsr-3131	379	15	is	be	AUX
fsr-3131	379	16	used	use	VERB
fsr-3131	379	17	.	.	PUNCT
fsr-3131	380	1	furthermore	furthermore	ADV
fsr-3131	380	2	,	,	PUNCT
fsr-3131	380	3	these	these	DET
fsr-3131	380	4	results	result	NOUN
fsr-3131	380	5	are	be	AUX
fsr-3131	380	6	still	still	ADV
fsr-3131	380	7	not	not	PART
fsr-3131	380	8	corroborated	corroborate	VERB
fsr-3131	380	9	by	by	ADP
fsr-3131	380	10	looking	look	VERB
fsr-3131	380	11	at	at	ADP
fsr-3131	380	12	the	the	DET
fsr-3131	380	13	cv	cv	PROPN
fsr-3131	380	14	-	-	PUNCT
fsr-3131	380	15	s	s	PROPN
fsr-3131	380	16	value	value	NOUN
fsr-3131	380	17	.	.	PUNCT
fsr-3131	381	1	there	there	PRON
fsr-3131	381	2	is	be	VERB
fsr-3131	381	3	also	also	ADV
fsr-3131	381	4	still	still	ADV
fsr-3131	381	5	no	no	DET
fsr-3131	381	6	evidence	evidence	NOUN
fsr-3131	381	7	that	that	SCONJ
fsr-3131	381	8	the	the	DET
fsr-3131	381	9	leveraged	leverage	VERB
fsr-3131	381	10	fund	fund	NOUN
fsr-3131	381	11	provides	provide	VERB
fsr-3131	381	12	any	any	DET
fsr-3131	381	13	benefit	benefit	NOUN
fsr-3131	381	14	during	during	ADP
fsr-3131	381	15	“	"	PUNCT
fsr-3131	381	16	flat	flat	ADJ
fsr-3131	381	17	”	"	PUNCT
fsr-3131	381	18	equity	equity	NOUN
fsr-3131	381	19	prices	price	NOUN
fsr-3131	381	20	,	,	PUNCT
fsr-3131	381	21	as	as	ADP
fsr-3131	381	22	both	both	CCONJ
fsr-3131	381	23	the	the	DET
fsr-3131	381	24	cv	cv	PROPN
fsr-3131	381	25	-	-	PUNCT
fsr-3131	381	26	tw	tw	PROPN
fsr-3131	381	27	and	and	CCONJ
fsr-3131	381	28	cv	cv	PROPN
fsr-3131	381	29	-	-	PUNCT
fsr-3131	381	30	s	s	PROPN
fsr-3131	381	31	show	show	NOUN
fsr-3131	381	32	increases	increase	NOUN
fsr-3131	381	33	.	.	PUNCT
fsr-3131	382	1	in	in	ADP
fsr-3131	382	2	the	the	DET
fsr-3131	382	3	period	period	NOUN
fsr-3131	382	4	of	of	ADP
fsr-3131	382	5	“	"	PUNCT
fsr-3131	382	6	rising	rise	VERB
fsr-3131	382	7	”	"	PUNCT
fsr-3131	382	8	equity	equity	NOUN
fsr-3131	382	9	prices	price	NOUN
fsr-3131	382	10	from	from	ADP
fsr-3131	382	11	1991	1991	NUM
fsr-3131	382	12	to	to	ADP
fsr-3131	382	13	2000	2000	NUM
fsr-3131	382	14	shown	show	VERB
fsr-3131	382	15	in	in	ADP
fsr-3131	382	16	table	table	NOUN
fsr-3131	382	17	14	14	NUM
fsr-3131	382	18	,	,	PUNCT
fsr-3131	382	19	the	the	DET
fsr-3131	382	20	results	result	NOUN
fsr-3131	382	21	for	for	ADP
fsr-3131	382	22	the	the	DET
fsr-3131	382	23	terminal	terminal	ADJ
fsr-3131	382	24	wealth	wealth	NOUN
fsr-3131	382	25	statistics	statistic	NOUN
fsr-3131	382	26	are	be	AUX
fsr-3131	382	27	similar	similar	ADJ
fsr-3131	382	28	to	to	ADP
fsr-3131	382	29	before	before	ADV
fsr-3131	382	30	,	,	PUNCT
fsr-3131	382	31	with	with	ADP
fsr-3131	382	32	the	the	DET
fsr-3131	382	33	inverse	inverse	NOUN
fsr-3131	382	34	of	of	ADP
fsr-3131	382	35	the	the	DET
fsr-3131	382	36	small	small	ADJ
fsr-3131	382	37	cap	cap	NOUN
fsr-3131	382	38	fund	fund	NOUN
fsr-3131	382	39	significantly	significantly	ADV
fsr-3131	382	40	reducing	reduce	VERB
fsr-3131	382	41	the	the	DET
fsr-3131	382	42	cv	cv	PROPN
fsr-3131	382	43	-	-	PUNCT
fsr-3131	382	44	tw	tw	NOUN
fsr-3131	382	45	relative	relative	ADJ
fsr-3131	382	46	to	to	ADP
fsr-3131	382	47	the	the	DET
fsr-3131	382	48	traditional	traditional	ADJ
fsr-3131	382	49	allocation	allocation	NOUN
fsr-3131	382	50	’s	’s	PART
fsr-3131	382	51	99.9	99.9	NUM
fsr-3131	382	52	%	%	NOUN
fsr-3131	382	53	confidence	confidence	NOUN
fsr-3131	382	54	intervals	interval	NOUN
fsr-3131	382	55	of	of	ADP
fsr-3131	382	56	[	[	X
fsr-3131	382	57	0.555	0.555	NUM
fsr-3131	382	58	,	,	PUNCT
fsr-3131	382	59	0.561	0.561	NUM
fsr-3131	382	60	]	]	PUNCT
fsr-3131	382	61	,	,	PUNCT
fsr-3131	382	62	[	[	X
fsr-3131	382	63	0.467	0.467	NUM
fsr-3131	382	64	,	,	PUNCT
fsr-3131	382	65	0.472	0.472	NUM
fsr-3131	382	66	]	]	PUNCT
fsr-3131	382	67	,	,	PUNCT
fsr-3131	382	68	and	and	CCONJ
fsr-3131	382	69	[	[	X
fsr-3131	382	70	0.382	0.382	NUM
fsr-3131	382	71	,	,	PUNCT
fsr-3131	382	72	0.385	0.385	NUM
fsr-3131	382	73	]	]	PUNCT
fsr-3131	382	74	.	.	PUNCT
fsr-3131	383	1	this	this	PRON
fsr-3131	383	2	is	be	AUX
fsr-3131	383	3	also	also	ADV
fsr-3131	383	4	true	true	ADJ
fsr-3131	383	5	,	,	PUNCT
fsr-3131	383	6	but	but	CCONJ
fsr-3131	383	7	less	less	ADV
fsr-3131	383	8	significant	significant	ADJ
fsr-3131	383	9	,	,	PUNCT
fsr-3131	383	10	when	when	SCONJ
fsr-3131	383	11	the	the	DET
fsr-3131	383	12	cv	cv	PROPN
fsr-3131	383	13	-	-	PUNCT
fsr-3131	383	14	tw	tw	NOUN
fsr-3131	383	15	under	under	ADP
fsr-3131	383	16	the	the	DET
fsr-3131	383	17	risk	risk	NOUN
fsr-3131	383	18	-	-	PUNCT
fsr-3131	383	19	free	free	ADJ
fsr-3131	383	20	asset	asset	NOUN
fsr-3131	383	21	is	be	AUX
fsr-3131	383	22	evaluated	evaluate	VERB
fsr-3131	383	23	.	.	PUNCT
fsr-3131	384	1	and	and	CCONJ
fsr-3131	384	2	again	again	ADV
fsr-3131	384	3	,	,	PUNCT
fsr-3131	384	4	like	like	ADP
fsr-3131	384	5	the	the	DET
fsr-3131	384	6	large	large	ADJ
fsr-3131	384	7	and	and	CCONJ
fsr-3131	384	8	mid	mid	ADJ
fsr-3131	384	9	caps	cap	NOUN
fsr-3131	384	10	,	,	PUNCT
fsr-3131	384	11	the	the	DET
fsr-3131	384	12	cv	cv	PROPN
fsr-3131	384	13	-	-	PUNCT
fsr-3131	384	14	s	s	NOUN
fsr-3131	384	15	does	do	AUX
fsr-3131	384	16	not	not	PART
fsr-3131	384	17	show	show	VERB
fsr-3131	384	18	any	any	DET
fsr-3131	384	19	improvement	improvement	NOUN
fsr-3131	384	20	when	when	SCONJ
fsr-3131	384	21	the	the	DET
fsr-3131	384	22	inverse	inverse	ADJ
fsr-3131	384	23	small	small	ADJ
fsr-3131	384	24	cap	cap	NOUN
fsr-3131	384	25	fund	fund	NOUN
fsr-3131	384	26	is	be	AUX
fsr-3131	384	27	used	use	VERB
fsr-3131	384	28	.	.	PUNCT
fsr-3131	385	1	the	the	DET
fsr-3131	385	2	use	use	NOUN
fsr-3131	385	3	of	of	ADP
fsr-3131	385	4	the	the	DET
fsr-3131	385	5	leveraged	leverage	VERB
fsr-3131	385	6	small	small	ADJ
fsr-3131	385	7	cap	cap	NOUN
fsr-3131	385	8	index	index	NOUN
fsr-3131	385	9	fund	fund	NOUN
fsr-3131	385	10	produces	produce	VERB
fsr-3131	385	11	results	result	NOUN
fsr-3131	385	12	similar	similar	ADJ
fsr-3131	385	13	to	to	ADP
fsr-3131	385	14	before	before	ADV
fsr-3131	385	15	,	,	PUNCT
fsr-3131	385	16	where	where	SCONJ
fsr-3131	385	17	a	a	DET
fsr-3131	385	18	significant	significant	ADJ
fsr-3131	385	19	improvement	improvement	NOUN
fsr-3131	385	20	in	in	ADP
fsr-3131	385	21	cv	cv	PROPN
fsr-3131	385	22	-	-	PUNCT
fsr-3131	385	23	s	s	NOUN
fsr-3131	385	24	occurs	occur	VERB
fsr-3131	385	25	against	against	ADP
fsr-3131	385	26	the	the	DET
fsr-3131	385	27	traditional	traditional	ADJ
fsr-3131	385	28	99.9	99.9	NUM
fsr-3131	385	29	%	%	NOUN
fsr-3131	385	30	confidence	confidence	NOUN
fsr-3131	385	31	intervals	interval	NOUN
fsr-3131	385	32	of	of	ADP
fsr-3131	385	33	[	[	X
fsr-3131	385	34	0.482	0.482	NUM
fsr-3131	385	35	,	,	PUNCT
fsr-3131	385	36	0.487	0.487	NUM
fsr-3131	385	37	]	]	PUNCT
fsr-3131	385	38	,	,	PUNCT
fsr-3131	385	39	[	[	X
fsr-3131	385	40	0.463	0.463	NUM
fsr-3131	385	41	,	,	PUNCT
fsr-3131	385	42	0.467	0.467	NUM
fsr-3131	385	43	]	]	PUNCT
fsr-3131	385	44	,	,	PUNCT
fsr-3131	385	45	and	and	CCONJ
fsr-3131	385	46	[	[	X
fsr-3131	385	47	0.439	0.439	NUM
fsr-3131	385	48	,	,	PUNCT
fsr-3131	385	49	0.443	0.443	NUM
fsr-3131	385	50	]	]	PUNCT
fsr-3131	385	51	.	.	PUNCT
fsr-3131	386	1	table	table	NOUN
fsr-3131	386	2	15	15	NUM
fsr-3131	386	3	provides	provide	VERB
fsr-3131	386	4	the	the	DET
fsr-3131	386	5	last	last	ADJ
fsr-3131	386	6	extension	extension	NOUN
fsr-3131	386	7	to	to	ADP
fsr-3131	386	8	alternative	alternative	ADJ
fsr-3131	386	9	equity	equity	NOUN
fsr-3131	386	10	funds	fund	NOUN
fsr-3131	386	11	and	and	CCONJ
fsr-3131	386	12	the	the	DET
fsr-3131	386	13	use	use	NOUN
fsr-3131	386	14	of	of	ADP
fsr-3131	386	15	inverse	inverse	NOUN
fsr-3131	386	16	and	and	CCONJ
fsr-3131	386	17	leveraged	leveraged	ADJ
fsr-3131	386	18	funds	fund	NOUN
fsr-3131	386	19	from	from	ADP
fsr-3131	386	20	them	they	PRON
fsr-3131	386	21	in	in	ADP
fsr-3131	386	22	an	an	DET
fsr-3131	386	23	alternative	alternative	ADJ
fsr-3131	386	24	allocation	allocation	NOUN
fsr-3131	386	25	.	.	PUNCT
fsr-3131	387	1	here	here	ADV
fsr-3131	387	2	,	,	PUNCT
fsr-3131	387	3	which	which	PRON
fsr-3131	387	4	covers	cover	VERB
fsr-3131	387	5	the	the	DET
fsr-3131	387	6	period	period	NOUN
fsr-3131	387	7	of	of	ADP
fsr-3131	387	8	“	"	PUNCT
fsr-3131	387	9	flat	flat	ADJ
fsr-3131	387	10	”	"	PUNCT
fsr-3131	387	11	equity	equity	NOUN
fsr-3131	387	12	prices	price	NOUN
fsr-3131	387	13	from	from	ADP
fsr-3131	387	14	2001	2001	NUM
fsr-3131	387	15	to	to	ADP
fsr-3131	387	16	2010	2010	NUM
fsr-3131	387	17	,	,	PUNCT
fsr-3131	387	18	all	all	DET
fsr-3131	387	19	the	the	DET
fsr-3131	387	20	findings	finding	NOUN
fsr-3131	387	21	shown	show	VERB
fsr-3131	387	22	previously	previously	ADV
fsr-3131	387	23	continue	continue	VERB
fsr-3131	387	24	to	to	PART
fsr-3131	387	25	hold	hold	VERB
fsr-3131	387	26	.	.	PUNCT
fsr-3131	388	1	the	the	DET
fsr-3131	388	2	cv	cv	PROPN
fsr-3131	388	3	-	-	PUNCT
fsr-3131	388	4	tw	tw	PROPN
fsr-3131	388	5	,	,	PUNCT
fsr-3131	388	6	with	with	ADP
fsr-3131	388	7	the	the	DET
fsr-3131	388	8	use	use	NOUN
fsr-3131	388	9	of	of	ADP
fsr-3131	388	10	the	the	DET
fsr-3131	388	11	inverse	inverse	ADJ
fsr-3131	388	12	nasdaq	nasdaq	PROPN
fsr-3131	388	13	index	index	NOUN
fsr-3131	388	14	fund	fund	NOUN
fsr-3131	388	15	,	,	PUNCT
fsr-3131	388	16	is	be	AUX
fsr-3131	388	17	still	still	ADV
fsr-3131	388	18	reduced	reduce	VERB
fsr-3131	388	19	when	when	SCONJ
fsr-3131	388	20	compared	compare	VERB
fsr-3131	388	21	to	to	ADP
fsr-3131	388	22	the	the	DET
fsr-3131	388	23	traditional	traditional	ADJ
fsr-3131	388	24	allocation	allocation	NOUN
fsr-3131	388	25	,	,	PUNCT
fsr-3131	388	26	based	base	VERB
fsr-3131	388	27	on	on	ADP
fsr-3131	388	28	99.9	99.9	NUM
fsr-3131	388	29	%	%	NOUN
fsr-3131	388	30	confidence	confidence	NOUN
fsr-3131	388	31	intervals	interval	NOUN
fsr-3131	388	32	of	of	ADP
fsr-3131	388	33	[	[	X
fsr-3131	388	34	0.928	0.928	NUM
fsr-3131	388	35	,	,	PUNCT
fsr-3131	388	36	0.946	0.946	NUM
fsr-3131	388	37	]	]	PUNCT
fsr-3131	388	38	,	,	PUNCT
fsr-3131	388	39	[	[	X
fsr-3131	388	40	0.745	0.745	NUM
fsr-3131	388	41	,	,	PUNCT
fsr-3131	388	42	0.757	0.757	NUM
fsr-3131	388	43	]	]	PUNCT
fsr-3131	388	44	,	,	PUNCT
fsr-3131	388	45	and	and	CCONJ
fsr-3131	388	46	[	[	X
fsr-3131	388	47	0.583	0.583	NUM
fsr-3131	388	48	,	,	PUNCT
fsr-3131	388	49	0.590	0.590	NUM
fsr-3131	388	50	]	]	PUNCT
fsr-3131	388	51	,	,	PUNCT
fsr-3131	388	52	and	and	CCONJ
fsr-3131	388	53	the	the	DET
fsr-3131	388	54	reduction	reduction	NOUN
fsr-3131	388	55	is	be	AUX
fsr-3131	388	56	more	more	ADV
fsr-3131	388	57	significant	significant	ADJ
fsr-3131	388	58	than	than	SCONJ
fsr-3131	388	59	if	if	SCONJ
fsr-3131	388	60	the	the	DET
fsr-3131	388	61	risk	risk	NOUN
fsr-3131	388	62	-	-	PUNCT
fsr-3131	388	63	free	free	ADJ
fsr-3131	388	64	asset	asset	NOUN
fsr-3131	388	65	table	table	NOUN
fsr-3131	388	66	11	11	NUM
fsr-3131	388	67	statistics	statistic	NOUN
fsr-3131	388	68	using	use	VERB
fsr-3131	388	69	2001–2010	2001–2010	NUM
fsr-3131	388	70	return	return	NOUN
fsr-3131	388	71	distributions	distribution	NOUN
fsr-3131	388	72	for	for	ADP
fsr-3131	388	73	simulation	simulation	NOUN
fsr-3131	388	74	sampling	sampling	NOUN
fsr-3131	388	75	,	,	PUNCT
fsr-3131	388	76	mid	mid	ADJ
fsr-3131	388	77	-	-	ADJ
fsr-3131	388	78	cap	cap	ADJ
fsr-3131	388	79	index	index	NOUN
fsr-3131	388	80	fund	fund	NOUN
fsr-3131	388	81	(	(	PUNCT
fsr-3131	388	82	vexmx	vexmx	PROPN
fsr-3131	388	83	)	)	PUNCT
fsr-3131	388	84	traditional	traditional	ADJ
fsr-3131	388	85	allocation	allocation	NOUN
fsr-3131	388	86	alternative	alternative	NOUN
fsr-3131	388	87	allocation	allocation	NOUN
fsr-3131	388	88	with	with	ADP
fsr-3131	388	89	inverse	inverse	NOUN
fsr-3131	388	90	(	(	PUNCT
fsr-3131	388	91	�	�	PROPN
fsr-3131	388	92	1	1	NUM
fsr-3131	388	93	�	�	PROPN
fsr-3131	388	94	)	)	PUNCT
fsr-3131	388	95	fund	fund	NOUN
fsr-3131	388	96	25	25	NUM
fsr-3131	388	97	-	-	PUNCT
fsr-3131	388	98	year	year	NOUN
fsr-3131	388	99	old	old	ADJ
fsr-3131	388	100	40	40	NUM
fsr-3131	388	101	-	-	PUNCT
fsr-3131	388	102	year	year	NOUN
fsr-3131	388	103	old	old	ADJ
fsr-3131	388	104	55	55	NUM
fsr-3131	388	105	-	-	PUNCT
fsr-3131	388	106	year	year	NOUN
fsr-3131	388	107	old	old	ADJ
fsr-3131	388	108	25	25	NUM
fsr-3131	388	109	-	-	PUNCT
fsr-3131	388	110	year	year	NOUN
fsr-3131	388	111	old	old	ADJ
fsr-3131	388	112	40	40	NUM
fsr-3131	388	113	-	-	PUNCT
fsr-3131	388	114	year	year	NOUN
fsr-3131	388	115	old	old	ADJ
fsr-3131	388	116	55	55	NUM
fsr-3131	388	117	-	-	PUNCT
fsr-3131	388	118	year	year	NOUN
fsr-3131	388	119	old	old	ADJ
fsr-3131	388	120	terminal	terminal	ADJ
fsr-3131	388	121	wealth	wealth	NOUN
fsr-3131	388	122	statistics	statistic	NOUN
fsr-3131	388	123	standard	standard	ADJ
fsr-3131	388	124	deviation	deviation	NOUN
fsr-3131	388	125	$	$	SYM
fsr-3131	388	126	1,597	1,597	NUM
fsr-3131	388	127	$	$	SYM
fsr-3131	388	128	1,260	1,260	NUM
fsr-3131	388	129	$	$	SYM
fsr-3131	388	130	967	967	NUM
fsr-3131	388	131	$	$	SYM
fsr-3131	388	132	1,086	1,086	NUM
fsr-3131	388	133	$	$	SYM
fsr-3131	388	134	850	850	NUM
fsr-3131	388	135	$	$	SYM
fsr-3131	388	136	639	639	NUM
fsr-3131	388	137	mean	mean	VERB
fsr-3131	388	138	$	$	SYM
fsr-3131	388	139	2,187	2,187	NUM
fsr-3131	388	140	$	$	SYM
fsr-3131	388	141	2,102	2,102	NUM
fsr-3131	388	142	$	$	SYM
fsr-3131	388	143	2,021	2,021	NUM
fsr-3131	388	144	$	$	SYM
fsr-3131	388	145	1,857	1,857	NUM
fsr-3131	388	146	$	$	SYM
fsr-3131	388	147	1,791	1,791	NUM
fsr-3131	388	148	$	$	SYM
fsr-3131	388	149	1,727	1,727	NUM
fsr-3131	388	150	cv	cv	PROPN
fsr-3131	388	151	-	-	PUNCT
fsr-3131	388	152	tw	tw	PROPN
fsr-3131	388	153	0.730	0.730	NUM
fsr-3131	388	154	0.600	0.600	NUM
fsr-3131	388	155	0.478	0.478	NUM
fsr-3131	388	156	0.585	0.585	NUM
fsr-3131	388	157	0.474	0.474	NUM
fsr-3131	388	158	0.370	0.370	NUM
fsr-3131	388	159	sharpe	sharpe	PROPN
fsr-3131	388	160	ratio	ratio	PROPN
fsr-3131	388	161	statistics	statistic	NOUN
fsr-3131	388	162	standard	standard	ADJ
fsr-3131	388	163	deviation	deviation	NOUN
fsr-3131	388	164	0.095	0.095	NUM
fsr-3131	388	165	0.095	0.095	NUM
fsr-3131	388	166	0.096	0.096	NUM
fsr-3131	388	167	0.095	0.095	NUM
fsr-3131	388	168	0.096	0.096	NUM
fsr-3131	388	169	0.096	0.096	NUM
fsr-3131	388	170	mean	mean	NOUN
fsr-3131	388	171	0.084	0.084	NUM
fsr-3131	389	1	0.092	0.092	NUM
fsr-3131	389	2	0.104	0.104	NUM
fsr-3131	389	3	0.073	0.073	NUM
fsr-3131	389	4	0.080	0.080	NUM
fsr-3131	389	5	0.091	0.091	NUM
fsr-3131	389	6	cv	cv	PROPN
fsr-3131	389	7	-	-	PUNCT
fsr-3131	389	8	s	s	PROPN
fsr-3131	389	9	1.129	1.129	NUM
fsr-3131	389	10	1.032	1.032	NUM
fsr-3131	389	11	0.918	0.918	NUM
fsr-3131	389	12	1.310	1.310	NUM
fsr-3131	389	13	1.195	1.195	NUM
fsr-3131	389	14	1.054	1.054	NUM
fsr-3131	389	15	alternative	alternative	ADJ
fsr-3131	389	16	allocation	allocation	NOUN
fsr-3131	389	17	with	with	ADP
fsr-3131	389	18	risk	risk	NOUN
fsr-3131	389	19	-	-	PUNCT
fsr-3131	389	20	free	free	ADJ
fsr-3131	389	21	asset	asset	NOUN
fsr-3131	389	22	alternative	alternative	ADJ
fsr-3131	389	23	allocation	allocation	NOUN
fsr-3131	389	24	with	with	ADP
fsr-3131	389	25	leveraged	leveraged	ADJ
fsr-3131	389	26	(	(	PUNCT
fsr-3131	389	27	2	2	NUM
fsr-3131	389	28	�	�	NOUN
fsr-3131	389	29	)	)	PUNCT
fsr-3131	389	30	fund	fund	NOUN
fsr-3131	389	31	25	25	NUM
fsr-3131	389	32	-	-	PUNCT
fsr-3131	389	33	year	year	NOUN
fsr-3131	389	34	old	old	ADJ
fsr-3131	389	35	40	40	NUM
fsr-3131	389	36	-	-	PUNCT
fsr-3131	389	37	year	year	NOUN
fsr-3131	389	38	old	old	ADJ
fsr-3131	389	39	55	55	NUM
fsr-3131	389	40	-	-	PUNCT
fsr-3131	389	41	year	year	NOUN
fsr-3131	389	42	old	old	ADJ
fsr-3131	389	43	25	25	NUM
fsr-3131	389	44	-	-	PUNCT
fsr-3131	389	45	year	year	NOUN
fsr-3131	389	46	old	old	ADJ
fsr-3131	389	47	40	40	NUM
fsr-3131	389	48	-	-	PUNCT
fsr-3131	389	49	year	year	NOUN
fsr-3131	389	50	old	old	ADJ
fsr-3131	389	51	55	55	NUM
fsr-3131	389	52	-	-	PUNCT
fsr-3131	389	53	year	year	NOUN
fsr-3131	389	54	old	old	ADJ
fsr-3131	389	55	terminal	terminal	ADJ
fsr-3131	389	56	wealth	wealth	NOUN
fsr-3131	389	57	statistics	statistic	NOUN
fsr-3131	389	58	standard	standard	ADJ
fsr-3131	389	59	deviation	deviation	NOUN
fsr-3131	389	60	$	$	SYM
fsr-3131	389	61	1,349	1,349	NUM
fsr-3131	389	62	$	$	SYM
fsr-3131	389	63	1,073	1,073	NUM
fsr-3131	389	64	$	$	SYM
fsr-3131	389	65	829	829	NUM
fsr-3131	389	66	$	$	SYM
fsr-3131	389	67	1,949	1,949	NUM
fsr-3131	389	68	$	$	SYM
fsr-3131	389	69	1,602	1,602	NUM
fsr-3131	389	70	$	$	SYM
fsr-3131	389	71	1,296	1,296	NUM
fsr-3131	389	72	mean	mean	NOUN
fsr-3131	389	73	$	$	SYM
fsr-3131	389	74	2,067	2,067	NUM
fsr-3131	389	75	$	$	SYM
fsr-3131	389	76	1,994	1,994	NUM
fsr-3131	389	77	$	$	SYM
fsr-3131	389	78	1,924	1,924	NUM
fsr-3131	389	79	$	$	SYM
fsr-3131	389	80	2,332	2,332	NUM
fsr-3131	389	81	$	$	SYM
fsr-3131	389	82	2,252	2,252	NUM
fsr-3131	389	83	$	$	SYM
fsr-3131	389	84	2,174	2,174	NUM
fsr-3131	389	85	cv	cv	PROPN
fsr-3131	389	86	-	-	PUNCT
fsr-3131	389	87	tw	tw	PROPN
fsr-3131	389	88	0.653	0.653	NUM
fsr-3131	389	89	0.538	0.538	NUM
fsr-3131	389	90	0.431	0.431	NUM
fsr-3131	389	91	0.836	0.836	NUM
fsr-3131	389	92	0.712	0.712	NUM
fsr-3131	389	93	0.596	0.596	NUM
fsr-3131	389	94	sharpe	sharpe	PROPN
fsr-3131	389	95	ratio	ratio	PROPN
fsr-3131	389	96	statistics	statistic	NOUN
fsr-3131	389	97	standard	standard	ADJ
fsr-3131	389	98	deviation	deviation	NOUN
fsr-3131	389	99	0.096	0.096	NUM
fsr-3131	389	100	0.096	0.096	NUM
fsr-3131	389	101	0.096	0.096	NUM
fsr-3131	390	1	0.095	0.095	NUM
fsr-3131	390	2	0.095	0.095	NUM
fsr-3131	390	3	0.095	0.095	NUM
fsr-3131	390	4	mean	mean	NOUN
fsr-3131	390	5	0.084	0.084	NUM
fsr-3131	390	6	0.092	0.092	NUM
fsr-3131	390	7	0.104	0.104	NUM
fsr-3131	390	8	0.084	0.084	NUM
fsr-3131	390	9	0.090	0.090	NUM
fsr-3131	390	10	0.099	0.099	NUM
fsr-3131	390	11	cv	cv	PROPN
fsr-3131	390	12	-	-	PUNCT
fsr-3131	390	13	s	s	PROPN
fsr-3131	390	14	1.140	1.140	NUM
fsr-3131	390	15	1.041	1.041	NUM
fsr-3131	390	16	0.925	0.925	NUM
fsr-3131	390	17	1.131	1.131	NUM
fsr-3131	390	18	1.053	1.053	NUM
fsr-3131	390	19	0.964	0.964	NUM
fsr-3131	390	20	notes	note	NOUN
fsr-3131	390	21	.	.	PUNCT
fsr-3131	391	1	this	this	DET
fsr-3131	391	2	table	table	NOUN
fsr-3131	391	3	shows	show	VERB
fsr-3131	391	4	central	central	ADJ
fsr-3131	391	5	tendency	tendency	NOUN
fsr-3131	391	6	and	and	CCONJ
fsr-3131	391	7	dispersion	dispersion	NOUN
fsr-3131	391	8	of	of	ADP
fsr-3131	391	9	terminal	terminal	ADJ
fsr-3131	391	10	wealth	wealth	NOUN
fsr-3131	391	11	and	and	CCONJ
fsr-3131	391	12	sharpe	sharpe	NOUN
fsr-3131	391	13	ratios	ratio	NOUN
fsr-3131	391	14	for	for	ADP
fsr-3131	391	15	each	each	PRON
fsr-3131	391	16	of	of	ADP
fsr-3131	391	17	the	the	DET
fsr-3131	391	18	three	three	NUM
fsr-3131	391	19	investors	investor	NOUN
fsr-3131	391	20	identified	identify	VERB
fsr-3131	391	21	.	.	PUNCT
fsr-3131	392	1	results	result	NOUN
fsr-3131	392	2	were	be	AUX
fsr-3131	392	3	obtained	obtain	VERB
fsr-3131	392	4	from	from	ADP
fsr-3131	392	5	100,000	100,000	NUM
fsr-3131	392	6	trials	trial	NOUN
fsr-3131	392	7	,	,	PUNCT
fsr-3131	392	8	annual	annual	ADJ
fsr-3131	392	9	rebalancing	rebalancing	NOUN
fsr-3131	392	10	,	,	PUNCT
fsr-3131	392	11	and	and	CCONJ
fsr-3131	392	12	an	an	DET
fsr-3131	392	13	annual	annual	ADJ
fsr-3131	392	14	fee	fee	NOUN
fsr-3131	392	15	as	as	SCONJ
fsr-3131	392	16	shown	show	VERB
fsr-3131	392	17	in	in	ADP
fsr-3131	392	18	the	the	DET
fsr-3131	392	19	last	last	ADJ
fsr-3131	392	20	column	column	NOUN
fsr-3131	392	21	of	of	ADP
fsr-3131	392	22	tables	table	NOUN
fsr-3131	392	23	8	8	NUM
fsr-3131	392	24	and	and	CCONJ
fsr-3131	392	25	9	9	NUM
fsr-3131	392	26	for	for	ADP
fsr-3131	392	27	the	the	DET
fsr-3131	392	28	simulated	simulated	ADJ
fsr-3131	392	29	inverse	inverse	NOUN
fsr-3131	392	30	or	or	CCONJ
fsr-3131	392	31	leveraged	leverage	VERB
fsr-3131	392	32	stock	stock	NOUN
fsr-3131	392	33	fund	fund	NOUN
fsr-3131	392	34	.	.	PUNCT
fsr-3131	393	1	141j.a	141j.a	NUM
fsr-3131	393	2	.	.	PUNCT
fsr-3131	393	3	dilellio	dilellio	PROPN
fsr-3131	393	4	,	,	PUNCT
fsr-3131	393	5	r.	r.	PROPN
fsr-3131	393	6	hesse	hesse	PROPN
fsr-3131	393	7	,	,	PUNCT
fsr-3131	393	8	d.j	d.j	PROPN
fsr-3131	393	9	.	.	PROPN
fsr-3131	393	10	stanley	stanley	PROPN
fsr-3131	393	11	/	/	SYM
fsr-3131	393	12	financial	financial	ADJ
fsr-3131	393	13	services	service	NOUN
fsr-3131	393	14	review	review	VERB
fsr-3131	393	15	23	23	NUM
fsr-3131	393	16	(	(	PUNCT
fsr-3131	393	17	2014	2014	NUM
fsr-3131	393	18	)	)	PUNCT
fsr-3131	393	19	123–149	123–149	NUM
fsr-3131	393	20	were	be	AUX
fsr-3131	393	21	used	use	VERB
fsr-3131	393	22	.	.	PUNCT
fsr-3131	394	1	unfortunately	unfortunately	ADV
fsr-3131	394	2	,	,	PUNCT
fsr-3131	394	3	the	the	DET
fsr-3131	394	4	sharpe	sharpe	PROPN
fsr-3131	394	5	ratio	ratio	PROPN
fsr-3131	394	6	statistics	statistic	NOUN
fsr-3131	394	7	do	do	AUX
fsr-3131	394	8	not	not	PART
fsr-3131	394	9	support	support	VERB
fsr-3131	394	10	a	a	DET
fsr-3131	394	11	reduction	reduction	NOUN
fsr-3131	394	12	in	in	ADP
fsr-3131	394	13	cv	cv	PROPN
fsr-3131	394	14	-	-	PUNCT
fsr-3131	394	15	s	s	PROPN
fsr-3131	394	16	when	when	SCONJ
fsr-3131	394	17	the	the	DET
fsr-3131	394	18	inverse	inverse	NOUN
fsr-3131	394	19	fund	fund	NOUN
fsr-3131	394	20	is	be	AUX
fsr-3131	394	21	used	use	VERB
fsr-3131	394	22	.	.	PUNCT
fsr-3131	395	1	further	far	ADV
fsr-3131	395	2	,	,	PUNCT
fsr-3131	395	3	the	the	DET
fsr-3131	395	4	use	use	NOUN
fsr-3131	395	5	of	of	ADP
fsr-3131	395	6	the	the	DET
fsr-3131	395	7	leveraged	leverage	VERB
fsr-3131	395	8	nasdaq	nasdaq	PROPN
fsr-3131	395	9	index	index	NOUN
fsr-3131	395	10	fund	fund	NOUN
fsr-3131	395	11	provides	provide	VERB
fsr-3131	395	12	no	no	DET
fsr-3131	395	13	benefit	benefit	NOUN
fsr-3131	395	14	in	in	ADP
fsr-3131	395	15	terms	term	NOUN
fsr-3131	395	16	of	of	ADP
fsr-3131	395	17	cv	cv	PROPN
fsr-3131	395	18	-	-	PUNCT
fsr-3131	395	19	tw	tw	NOUN
fsr-3131	395	20	or	or	CCONJ
fsr-3131	395	21	cv	cv	PROPN
fsr-3131	395	22	-	-	PUNCT
fsr-3131	395	23	s	s	PROPN
fsr-3131	395	24	,	,	PUNCT
fsr-3131	395	25	which	which	PRON
fsr-3131	395	26	is	be	AUX
fsr-3131	395	27	similar	similar	ADJ
fsr-3131	395	28	to	to	ADP
fsr-3131	395	29	the	the	DET
fsr-3131	395	30	results	result	NOUN
fsr-3131	395	31	shown	show	VERB
fsr-3131	395	32	for	for	ADP
fsr-3131	395	33	other	other	ADJ
fsr-3131	395	34	equity	equity	NOUN
fsr-3131	395	35	funds	fund	NOUN
fsr-3131	395	36	during	during	ADP
fsr-3131	395	37	the	the	DET
fsr-3131	395	38	period	period	NOUN
fsr-3131	395	39	of	of	ADP
fsr-3131	395	40	“	"	PUNCT
fsr-3131	395	41	flat	flat	ADJ
fsr-3131	395	42	”	"	PUNCT
fsr-3131	395	43	equity	equity	NOUN
fsr-3131	395	44	prices	price	NOUN
fsr-3131	395	45	from	from	ADP
fsr-3131	395	46	2001	2001	NUM
fsr-3131	395	47	to	to	ADP
fsr-3131	395	48	2010	2010	NUM
fsr-3131	395	49	.	.	PUNCT
fsr-3131	396	1	7.2	7.2	NUM
fsr-3131	396	2	.	.	PUNCT
fsr-3131	396	3	results	result	NOUN
fsr-3131	396	4	for	for	ADP
fsr-3131	396	5	short	short	ADJ
fsr-3131	396	6	-	-	PUNCT
fsr-3131	396	7	term	term	NOUN
fsr-3131	396	8	and	and	CCONJ
fsr-3131	396	9	long	long	ADJ
fsr-3131	396	10	term	term	NOUN
fsr-3131	396	11	bond	bond	NOUN
fsr-3131	396	12	funds	fund	NOUN
fsr-3131	396	13	to	to	PART
fsr-3131	396	14	complete	complete	VERB
fsr-3131	396	15	our	our	PRON
fsr-3131	396	16	evaluation	evaluation	NOUN
fsr-3131	396	17	of	of	ADP
fsr-3131	396	18	alternative	alternative	ADJ
fsr-3131	396	19	funds	fund	NOUN
fsr-3131	396	20	,	,	PUNCT
fsr-3131	396	21	we	we	PRON
fsr-3131	396	22	considered	consider	VERB
fsr-3131	396	23	two	two	NUM
fsr-3131	396	24	variations	variation	NOUN
fsr-3131	396	25	of	of	ADP
fsr-3131	396	26	bond	bond	NOUN
fsr-3131	396	27	holdings	holding	NOUN
fsr-3131	396	28	beyond	beyond	ADP
fsr-3131	396	29	the	the	DET
fsr-3131	396	30	vtbmi	vtbmi	PROPN
fsr-3131	396	31	fund	fund	PROPN
fsr-3131	396	32	.	.	PUNCT
fsr-3131	397	1	these	these	DET
fsr-3131	397	2	two	two	NUM
fsr-3131	397	3	funds	fund	NOUN
fsr-3131	397	4	represented	represent	VERB
fsr-3131	397	5	shorter	short	ADJ
fsr-3131	397	6	and	and	CCONJ
fsr-3131	397	7	longer	long	ADJ
fsr-3131	397	8	maturity	maturity	NOUN
fsr-3131	397	9	bond	bond	NOUN
fsr-3131	397	10	indices	index	NOUN
fsr-3131	397	11	,	,	PUNCT
fsr-3131	397	12	and	and	CCONJ
fsr-3131	397	13	we	we	PRON
fsr-3131	397	14	evaluated	evaluate	VERB
fsr-3131	397	15	each	each	PRON
fsr-3131	397	16	as	as	ADP
fsr-3131	397	17	its	its	PRON
fsr-3131	397	18	own	own	ADJ
fsr-3131	397	19	case	case	NOUN
fsr-3131	397	20	when	when	SCONJ
fsr-3131	397	21	the	the	DET
fsr-3131	397	22	vtsmi	vtsmi	NOUN
fsr-3131	397	23	fund	fund	NOUN
fsr-3131	397	24	was	be	AUX
fsr-3131	397	25	used	use	VERB
fsr-3131	397	26	along	along	ADP
fsr-3131	397	27	with	with	ADP
fsr-3131	397	28	an	an	DET
fsr-3131	397	29	alternative	alternative	ADJ
fsr-3131	397	30	allocation	allocation	NOUN
fsr-3131	397	31	to	to	ADP
fsr-3131	397	32	either	either	DET
fsr-3131	397	33	inverse	inverse	NOUN
fsr-3131	397	34	of	of	ADP
fsr-3131	397	35	the	the	DET
fsr-3131	397	36	stock	stock	NOUN
fsr-3131	397	37	fund	fund	NOUN
fsr-3131	397	38	,	,	PUNCT
fsr-3131	397	39	2	2	NUM
fsr-3131	397	40	�	�	PROPN
fsr-3131	397	41	leverage	leverage	NOUN
fsr-3131	397	42	of	of	ADP
fsr-3131	397	43	the	the	DET
fsr-3131	397	44	stock	stock	NOUN
fsr-3131	397	45	fund	fund	NOUN
fsr-3131	397	46	,	,	PUNCT
fsr-3131	397	47	or	or	CCONJ
fsr-3131	397	48	a	a	DET
fsr-3131	397	49	risk	risk	NOUN
fsr-3131	397	50	-	-	PUNCT
fsr-3131	397	51	free	free	ADJ
fsr-3131	397	52	asset	asset	NOUN
fsr-3131	397	53	alternative	alternative	NOUN
fsr-3131	397	54	.	.	PUNCT
fsr-3131	398	1	the	the	DET
fsr-3131	398	2	results	result	NOUN
fsr-3131	398	3	for	for	ADP
fsr-3131	398	4	this	this	DET
fsr-3131	398	5	variation	variation	NOUN
fsr-3131	398	6	in	in	ADP
fsr-3131	398	7	bond	bond	NOUN
fsr-3131	398	8	funds	fund	NOUN
fsr-3131	398	9	appear	appear	VERB
fsr-3131	398	10	in	in	ADP
fsr-3131	398	11	tables	table	NOUN
fsr-3131	398	12	16	16	NUM
fsr-3131	398	13	and	and	CCONJ
fsr-3131	398	14	17	17	NUM
fsr-3131	398	15	,	,	PUNCT
fsr-3131	398	16	and	and	CCONJ
fsr-3131	398	17	confirm	confirm	VERB
fsr-3131	398	18	what	what	PRON
fsr-3131	398	19	was	be	AUX
fsr-3131	398	20	seen	see	VERB
fsr-3131	398	21	previously	previously	ADV
fsr-3131	398	22	.	.	PUNCT
fsr-3131	399	1	once	once	ADV
fsr-3131	399	2	again	again	ADV
fsr-3131	399	3	,	,	PUNCT
fsr-3131	399	4	use	use	NOUN
fsr-3131	399	5	of	of	ADP
fsr-3131	399	6	the	the	DET
fsr-3131	399	7	inverse	inverse	NOUN
fsr-3131	399	8	stock	stock	NOUN
fsr-3131	399	9	fund	fund	NOUN
fsr-3131	399	10	provides	provide	VERB
fsr-3131	399	11	a	a	DET
fsr-3131	399	12	diversification	diversification	NOUN
fsr-3131	399	13	benefit	benefit	NOUN
fsr-3131	399	14	by	by	ADP
fsr-3131	399	15	reducing	reduce	VERB
fsr-3131	399	16	the	the	DET
fsr-3131	399	17	cv	cv	PROPN
fsr-3131	399	18	-	-	PUNCT
fsr-3131	399	19	tw	tw	NOUN
fsr-3131	399	20	beyond	beyond	ADP
fsr-3131	399	21	the	the	DET
fsr-3131	399	22	99.9	99.9	NUM
fsr-3131	399	23	%	%	NOUN
fsr-3131	399	24	confidence	confidence	NOUN
fsr-3131	399	25	intervals	interval	NOUN
fsr-3131	399	26	of	of	ADP
fsr-3131	399	27	[	[	X
fsr-3131	399	28	0.578	0.578	NUM
fsr-3131	399	29	,	,	PUNCT
fsr-3131	399	30	0.585	0.585	NUM
fsr-3131	399	31	]	]	PUNCT
fsr-3131	399	32	,	,	PUNCT
fsr-3131	399	33	[	[	X
fsr-3131	399	34	0.474	0.474	NUM
fsr-3131	399	35	,	,	PUNCT
fsr-3131	399	36	0.479	0.479	NUM
fsr-3131	399	37	]	]	PUNCT
fsr-3131	399	38	,	,	PUNCT
fsr-3131	399	39	and	and	CCONJ
fsr-3131	399	40	[	[	X
fsr-3131	399	41	0.377	0.377	NUM
fsr-3131	399	42	,	,	PUNCT
fsr-3131	399	43	0.380	0.380	NUM
fsr-3131	399	44	]	]	PUNCT
fsr-3131	399	45	for	for	ADP
fsr-3131	399	46	the	the	DET
fsr-3131	399	47	short	short	ADJ
fsr-3131	399	48	-	-	PUNCT
fsr-3131	399	49	term	term	NOUN
fsr-3131	399	50	bond	bond	NOUN
fsr-3131	399	51	fund	fund	NOUN
fsr-3131	399	52	index	index	NOUN
fsr-3131	399	53	in	in	ADP
fsr-3131	399	54	table	table	NOUN
fsr-3131	399	55	16	16	NUM
fsr-3131	399	56	,	,	PUNCT
fsr-3131	399	57	with	with	ADP
fsr-3131	399	58	a	a	DET
fsr-3131	399	59	similar	similar	ADJ
fsr-3131	399	60	,	,	PUNCT
fsr-3131	399	61	but	but	CCONJ
fsr-3131	399	62	less	less	ADV
fsr-3131	399	63	significant	significant	ADJ
fsr-3131	399	64	reduction	reduction	NOUN
fsr-3131	399	65	in	in	ADP
fsr-3131	399	66	the	the	DET
fsr-3131	399	67	cv	cv	PROPN
fsr-3131	399	68	-	-	PUNCT
fsr-3131	399	69	tw	tw	NOUN
fsr-3131	399	70	when	when	SCONJ
fsr-3131	399	71	the	the	DET
fsr-3131	399	72	risk	risk	NOUN
fsr-3131	399	73	-	-	PUNCT
fsr-3131	399	74	free	free	ADJ
fsr-3131	399	75	asset	asset	NOUN
fsr-3131	399	76	is	be	AUX
fsr-3131	399	77	used	use	VERB
fsr-3131	399	78	.	.	PUNCT
fsr-3131	400	1	again	again	ADV
fsr-3131	400	2	,	,	PUNCT
fsr-3131	400	3	there	there	PRON
fsr-3131	400	4	appears	appear	VERB
fsr-3131	400	5	to	to	PART
fsr-3131	400	6	be	be	AUX
fsr-3131	400	7	no	no	DET
fsr-3131	400	8	benefit	benefit	NOUN
fsr-3131	400	9	in	in	ADP
fsr-3131	400	10	terms	term	NOUN
fsr-3131	400	11	of	of	ADP
fsr-3131	400	12	cv	cv	PROPN
fsr-3131	400	13	for	for	ADP
fsr-3131	400	14	the	the	DET
fsr-3131	400	15	sharpe	sharpe	PROPN
fsr-3131	400	16	ratios	ratio	NOUN
fsr-3131	400	17	.	.	PUNCT
fsr-3131	401	1	lastly	lastly	ADV
fsr-3131	401	2	,	,	PUNCT
fsr-3131	401	3	the	the	DET
fsr-3131	401	4	use	use	NOUN
fsr-3131	401	5	of	of	ADP
fsr-3131	401	6	the	the	DET
fsr-3131	401	7	leveraged	leverage	VERB
fsr-3131	401	8	fund	fund	NOUN
fsr-3131	401	9	does	do	AUX
fsr-3131	401	10	not	not	PART
fsr-3131	401	11	provide	provide	VERB
fsr-3131	401	12	any	any	DET
fsr-3131	401	13	benefit	benefit	NOUN
fsr-3131	401	14	in	in	ADP
fsr-3131	401	15	terms	term	NOUN
fsr-3131	401	16	of	of	ADP
fsr-3131	401	17	either	either	CCONJ
fsr-3131	401	18	terminal	terminal	ADJ
fsr-3131	401	19	wealth	wealth	NOUN
fsr-3131	401	20	or	or	CCONJ
fsr-3131	401	21	sharpe	sharpe	NOUN
fsr-3131	401	22	ratio	ratio	NOUN
fsr-3131	401	23	,	,	PUNCT
fsr-3131	401	24	which	which	PRON
fsr-3131	401	25	is	be	AUX
fsr-3131	401	26	again	again	ADV
fsr-3131	401	27	consistent	consistent	ADJ
fsr-3131	401	28	with	with	ADP
fsr-3131	401	29	the	the	DET
fsr-3131	401	30	2001–2010	2001–2010	NUM
fsr-3131	401	31	period	period	NOUN
fsr-3131	401	32	with	with	ADP
fsr-3131	401	33	“	"	PUNCT
fsr-3131	401	34	flat	flat	ADJ
fsr-3131	401	35	”	"	PUNCT
fsr-3131	401	36	equity	equity	NOUN
fsr-3131	401	37	prices	price	NOUN
fsr-3131	401	38	already	already	ADV
fsr-3131	401	39	reported	report	VERB
fsr-3131	401	40	.	.	PUNCT
fsr-3131	402	1	table	table	NOUN
fsr-3131	402	2	12	12	NUM
fsr-3131	402	3	statistics	statistic	NOUN
fsr-3131	402	4	using	use	VERB
fsr-3131	402	5	1991–2000	1991–2000	NUM
fsr-3131	402	6	return	return	NOUN
fsr-3131	402	7	distributions	distribution	NOUN
fsr-3131	402	8	for	for	ADP
fsr-3131	402	9	simulation	simulation	NOUN
fsr-3131	402	10	sampling	sampling	NOUN
fsr-3131	402	11	,	,	PUNCT
fsr-3131	402	12	mid	mid	ADJ
fsr-3131	402	13	-	-	ADJ
fsr-3131	402	14	cap	cap	ADJ
fsr-3131	402	15	index	index	NOUN
fsr-3131	402	16	fund	fund	NOUN
fsr-3131	402	17	(	(	PUNCT
fsr-3131	402	18	vexmx	vexmx	PROPN
fsr-3131	402	19	)	)	PUNCT
fsr-3131	402	20	traditional	traditional	ADJ
fsr-3131	402	21	allocation	allocation	NOUN
fsr-3131	402	22	alternative	alternative	NOUN
fsr-3131	402	23	allocation	allocation	NOUN
fsr-3131	402	24	with	with	ADP
fsr-3131	402	25	inverse	inverse	NOUN
fsr-3131	402	26	(	(	PUNCT
fsr-3131	402	27	�	�	PROPN
fsr-3131	402	28	1	1	NUM
fsr-3131	402	29	�	�	PROPN
fsr-3131	402	30	)	)	PUNCT
fsr-3131	402	31	fund	fund	NOUN
fsr-3131	402	32	25	25	NUM
fsr-3131	402	33	-	-	PUNCT
fsr-3131	402	34	year	year	NOUN
fsr-3131	402	35	old	old	ADJ
fsr-3131	402	36	40	40	NUM
fsr-3131	402	37	-	-	PUNCT
fsr-3131	402	38	year	year	NOUN
fsr-3131	402	39	old	old	ADJ
fsr-3131	402	40	55	55	NUM
fsr-3131	402	41	-	-	PUNCT
fsr-3131	402	42	year	year	NOUN
fsr-3131	402	43	old	old	ADJ
fsr-3131	402	44	25	25	NUM
fsr-3131	402	45	-	-	PUNCT
fsr-3131	402	46	year	year	NOUN
fsr-3131	402	47	old	old	ADJ
fsr-3131	402	48	40	40	NUM
fsr-3131	402	49	-	-	PUNCT
fsr-3131	402	50	year	year	NOUN
fsr-3131	402	51	old	old	ADJ
fsr-3131	402	52	55	55	NUM
fsr-3131	402	53	-	-	PUNCT
fsr-3131	402	54	year	year	NOUN
fsr-3131	402	55	old	old	ADJ
fsr-3131	402	56	terminal	terminal	ADJ
fsr-3131	402	57	wealth	wealth	NOUN
fsr-3131	402	58	statistics	statistic	NOUN
fsr-3131	402	59	standard	standard	ADJ
fsr-3131	402	60	deviation	deviation	NOUN
fsr-3131	402	61	$	$	SYM
fsr-3131	402	62	2,705	2,705	NUM
fsr-3131	402	63	$	$	SYM
fsr-3131	402	64	2,004	2,004	NUM
fsr-3131	402	65	$	$	SYM
fsr-3131	402	66	1,441	1,441	NUM
fsr-3131	402	67	$	$	SYM
fsr-3131	402	68	1,705	1,705	NUM
fsr-3131	402	69	$	$	SYM
fsr-3131	402	70	1,259	1,259	NUM
fsr-3131	402	71	$	$	SYM
fsr-3131	402	72	896	896	NUM
fsr-3131	402	73	mean	mean	NOUN
fsr-3131	402	74	$	$	SYM
fsr-3131	402	75	4,762	4,762	NUM
fsr-3131	402	76	$	$	SYM
fsr-3131	402	77	4,191	4,191	NUM
fsr-3131	402	78	$	$	SYM
fsr-3131	402	79	3,683	3,683	NUM
fsr-3131	402	80	$	$	SYM
fsr-3131	402	81	3,597	3,597	NUM
fsr-3131	402	82	$	$	SYM
fsr-3131	402	83	3,196	3,196	NUM
fsr-3131	402	84	$	$	SYM
fsr-3131	402	85	2,836	2,836	NUM
fsr-3131	402	86	cv	cv	NOUN
fsr-3131	402	87	-	-	PUNCT
fsr-3131	402	88	tw	tw	PROPN
fsr-3131	402	89	0.568	0.568	NUM
fsr-3131	402	90	0.478	0.478	NUM
fsr-3131	402	91	0.391	0.391	NUM
fsr-3131	402	92	0.474	0.474	NUM
fsr-3131	402	93	0.394	0.394	NUM
fsr-3131	402	94	0.316	0.316	NUM
fsr-3131	402	95	sharpe	sharpe	PROPN
fsr-3131	402	96	ratio	ratio	PROPN
fsr-3131	402	97	statistics	statistic	NOUN
fsr-3131	402	98	standard	standard	ADJ
fsr-3131	402	99	deviation	deviation	NOUN
fsr-3131	402	100	0.097	0.097	NUM
fsr-3131	402	101	0.097	0.097	NUM
fsr-3131	402	102	0.096	0.096	NUM
fsr-3131	402	103	0.097	0.097	NUM
fsr-3131	402	104	0.097	0.097	NUM
fsr-3131	402	105	0.096	0.096	NUM
fsr-3131	402	106	mean	mean	NOUN
fsr-3131	402	107	0.198	0.198	NUM
fsr-3131	402	108	0.206	0.206	NUM
fsr-3131	402	109	0.216	0.216	NUM
fsr-3131	402	110	0.179	0.179	NUM
fsr-3131	402	111	0.183	0.183	NUM
fsr-3131	402	112	0.190	0.190	NUM
fsr-3131	402	113	cv	cv	PROPN
fsr-3131	402	114	-	-	PUNCT
fsr-3131	402	115	s	s	PART
fsr-3131	402	116	0.488	0.488	NUM
fsr-3131	402	117	0.470	0.470	NUM
fsr-3131	402	118	0.447	0.447	NUM
fsr-3131	402	119	0.541	0.541	NUM
fsr-3131	402	120	0.527	0.527	NUM
fsr-3131	402	121	0.508	0.508	NUM
fsr-3131	402	122	alternative	alternative	ADJ
fsr-3131	402	123	allocation	allocation	NOUN
fsr-3131	402	124	with	with	ADP
fsr-3131	402	125	risk	risk	NOUN
fsr-3131	402	126	-	-	PUNCT
fsr-3131	402	127	free	free	ADJ
fsr-3131	402	128	asset	asset	NOUN
fsr-3131	402	129	alternative	alternative	ADJ
fsr-3131	402	130	allocation	allocation	NOUN
fsr-3131	402	131	with	with	ADP
fsr-3131	402	132	leveraged	leveraged	ADJ
fsr-3131	402	133	(	(	PUNCT
fsr-3131	402	134	2	2	NUM
fsr-3131	402	135	�	�	NOUN
fsr-3131	402	136	)	)	PUNCT
fsr-3131	402	137	fund	fund	NOUN
fsr-3131	402	138	25	25	NUM
fsr-3131	402	139	-	-	PUNCT
fsr-3131	402	140	year	year	NOUN
fsr-3131	402	141	old	old	ADJ
fsr-3131	402	142	40	40	NUM
fsr-3131	402	143	-	-	PUNCT
fsr-3131	402	144	year	year	NOUN
fsr-3131	402	145	old	old	ADJ
fsr-3131	402	146	55	55	NUM
fsr-3131	402	147	-	-	PUNCT
fsr-3131	402	148	year	year	NOUN
fsr-3131	402	149	old	old	ADJ
fsr-3131	402	150	25	25	NUM
fsr-3131	402	151	-	-	PUNCT
fsr-3131	402	152	year	year	NOUN
fsr-3131	402	153	old	old	ADJ
fsr-3131	402	154	40	40	NUM
fsr-3131	402	155	-	-	PUNCT
fsr-3131	402	156	year	year	NOUN
fsr-3131	402	157	old	old	ADJ
fsr-3131	402	158	55	55	NUM
fsr-3131	402	159	-	-	PUNCT
fsr-3131	402	160	year	year	NOUN
fsr-3131	402	161	old	old	ADJ
fsr-3131	402	162	terminal	terminal	ADJ
fsr-3131	402	163	wealth	wealth	NOUN
fsr-3131	402	164	statistics	statistic	NOUN
fsr-3131	402	165	standard	standard	ADJ
fsr-3131	402	166	deviation	deviation	NOUN
fsr-3131	402	167	$	$	SYM
fsr-3131	402	168	2,181	2,181	NUM
fsr-3131	402	169	$	$	SYM
fsr-3131	402	170	1,641	1,641	NUM
fsr-3131	402	171	$	$	SYM
fsr-3131	402	172	1,198	1,198	NUM
fsr-3131	402	173	$	$	SYM
fsr-3131	402	174	3,672	3,672	NUM
fsr-3131	402	175	$	$	SYM
fsr-3131	402	176	2,868	2,868	NUM
fsr-3131	402	177	$	$	SYM
fsr-3131	402	178	2,203	2,203	NUM
fsr-3131	402	179	mean	mean	NOUN
fsr-3131	402	180	$	$	SYM
fsr-3131	402	181	4,284	4,284	NUM
fsr-3131	402	182	$	$	SYM
fsr-3131	402	183	3,814	3,814	NUM
fsr-3131	402	184	$	$	SYM
fsr-3131	402	185	3,391	3,391	NUM
fsr-3131	402	186	$	$	SYM
fsr-3131	402	187	5,654	5,654	NUM
fsr-3131	402	188	$	$	SYM
fsr-3131	402	189	5,051	5,051	NUM
fsr-3131	402	190	$	$	SYM
fsr-3131	402	191	4,506	4,506	NUM
fsr-3131	402	192	cv	cv	PROPN
fsr-3131	402	193	-	-	PUNCT
fsr-3131	402	194	tw	tw	PROPN
fsr-3131	402	195	0.509	0.509	NUM
fsr-3131	402	196	0.430	0.430	NUM
fsr-3131	402	197	0.353	0.353	NUM
fsr-3131	402	198	0.649	0.649	NUM
fsr-3131	402	199	0.568	0.568	NUM
fsr-3131	402	200	0.489	0.489	NUM
fsr-3131	402	201	sharpe	sharpe	PROPN
fsr-3131	402	202	ratio	ratio	PROPN
fsr-3131	402	203	statistics	statistic	NOUN
fsr-3131	402	204	standard	standard	ADJ
fsr-3131	402	205	deviation	deviation	NOUN
fsr-3131	402	206	0.097	0.097	NUM
fsr-3131	402	207	0.097	0.097	NUM
fsr-3131	402	208	0.097	0.097	NUM
fsr-3131	402	209	0.096	0.096	NUM
fsr-3131	402	210	0.096	0.096	NUM
fsr-3131	402	211	0.096	0.096	NUM
fsr-3131	402	212	mean	mean	NOUN
fsr-3131	402	213	0.198	0.198	NUM
fsr-3131	402	214	0.205	0.205	NUM
fsr-3131	402	215	0.216	0.216	NUM
fsr-3131	402	216	0.203	0.203	NUM
fsr-3131	402	217	0.210	0.210	NUM
fsr-3131	402	218	0.218	0.218	NUM
fsr-3131	402	219	cv	cv	PROPN
fsr-3131	402	220	-	-	PUNCT
fsr-3131	402	221	s	s	PRON
fsr-3131	402	222	0.490	0.490	NUM
fsr-3131	402	223	0.472	0.472	NUM
fsr-3131	402	224	0.450	0.450	NUM
fsr-3131	402	225	0.474	0.474	NUM
fsr-3131	402	226	0.459	0.459	NUM
fsr-3131	402	227	0.441	0.441	NUM
fsr-3131	402	228	notes	note	NOUN
fsr-3131	402	229	.	.	PUNCT
fsr-3131	403	1	this	this	DET
fsr-3131	403	2	table	table	NOUN
fsr-3131	403	3	shows	show	VERB
fsr-3131	403	4	central	central	ADJ
fsr-3131	403	5	tendency	tendency	NOUN
fsr-3131	403	6	and	and	CCONJ
fsr-3131	403	7	dispersion	dispersion	NOUN
fsr-3131	403	8	of	of	ADP
fsr-3131	403	9	terminal	terminal	ADJ
fsr-3131	403	10	wealth	wealth	NOUN
fsr-3131	403	11	and	and	CCONJ
fsr-3131	403	12	sharpe	sharpe	NOUN
fsr-3131	403	13	ratios	ratio	NOUN
fsr-3131	403	14	for	for	ADP
fsr-3131	403	15	each	each	PRON
fsr-3131	403	16	of	of	ADP
fsr-3131	403	17	the	the	DET
fsr-3131	403	18	three	three	NUM
fsr-3131	403	19	investors	investor	NOUN
fsr-3131	403	20	identified	identify	VERB
fsr-3131	403	21	.	.	PUNCT
fsr-3131	404	1	results	result	NOUN
fsr-3131	404	2	were	be	AUX
fsr-3131	404	3	obtained	obtain	VERB
fsr-3131	404	4	from	from	ADP
fsr-3131	404	5	100,000	100,000	NUM
fsr-3131	404	6	trials	trial	NOUN
fsr-3131	404	7	,	,	PUNCT
fsr-3131	404	8	annual	annual	ADJ
fsr-3131	404	9	rebalancing	rebalancing	NOUN
fsr-3131	404	10	,	,	PUNCT
fsr-3131	404	11	and	and	CCONJ
fsr-3131	404	12	an	an	DET
fsr-3131	404	13	annual	annual	ADJ
fsr-3131	404	14	fee	fee	NOUN
fsr-3131	404	15	as	as	SCONJ
fsr-3131	404	16	shown	show	VERB
fsr-3131	404	17	in	in	ADP
fsr-3131	404	18	the	the	DET
fsr-3131	404	19	last	last	ADJ
fsr-3131	404	20	column	column	NOUN
fsr-3131	404	21	of	of	ADP
fsr-3131	404	22	tables	table	NOUN
fsr-3131	404	23	8	8	NUM
fsr-3131	404	24	and	and	CCONJ
fsr-3131	404	25	9	9	NUM
fsr-3131	404	26	for	for	ADP
fsr-3131	404	27	the	the	DET
fsr-3131	404	28	simulated	simulated	ADJ
fsr-3131	404	29	inverse	inverse	NOUN
fsr-3131	404	30	or	or	CCONJ
fsr-3131	404	31	leveraged	leverage	VERB
fsr-3131	404	32	stock	stock	NOUN
fsr-3131	404	33	fund	fund	NOUN
fsr-3131	404	34	.	.	PUNCT
fsr-3131	405	1	142	142	NUM
fsr-3131	405	2	j.a	j.a	PROPN
fsr-3131	405	3	.	.	PROPN
fsr-3131	405	4	dilellio	dilellio	PROPN
fsr-3131	405	5	,	,	PUNCT
fsr-3131	405	6	r.	r.	PROPN
fsr-3131	405	7	hesse	hesse	PROPN
fsr-3131	405	8	,	,	PUNCT
fsr-3131	405	9	d.j	d.j	PROPN
fsr-3131	405	10	.	.	PROPN
fsr-3131	405	11	stanley	stanley	PROPN
fsr-3131	405	12	/	/	SYM
fsr-3131	405	13	financial	financial	ADJ
fsr-3131	405	14	services	service	NOUN
fsr-3131	405	15	review	review	VERB
fsr-3131	405	16	23	23	NUM
fsr-3131	405	17	(	(	PUNCT
fsr-3131	405	18	2014	2014	NUM
fsr-3131	405	19	)	)	PUNCT
fsr-3131	406	1	123–149	123–149	NUM
fsr-3131	406	2	similar	similar	ADJ
fsr-3131	406	3	findings	finding	NOUN
fsr-3131	406	4	appear	appear	VERB
fsr-3131	406	5	in	in	ADP
fsr-3131	406	6	table	table	NOUN
fsr-3131	406	7	17	17	NUM
fsr-3131	406	8	,	,	PUNCT
fsr-3131	406	9	where	where	SCONJ
fsr-3131	406	10	the	the	DET
fsr-3131	406	11	99.9	99.9	NUM
fsr-3131	406	12	%	%	NOUN
fsr-3131	406	13	confidence	confidence	NOUN
fsr-3131	406	14	intervals	interval	NOUN
fsr-3131	406	15	for	for	ADP
fsr-3131	406	16	cv	cv	PROPN
fsr-3131	406	17	-	-	PUNCT
fsr-3131	406	18	tw	tw	NOUN
fsr-3131	406	19	are	be	AUX
fsr-3131	406	20	[	[	X
fsr-3131	406	21	0.578	0.578	NUM
fsr-3131	406	22	,	,	PUNCT
fsr-3131	406	23	0.585	0.585	NUM
fsr-3131	406	24	]	]	PUNCT
fsr-3131	406	25	,	,	PUNCT
fsr-3131	406	26	[	[	X
fsr-3131	406	27	0.479	0.479	NUM
fsr-3131	406	28	,	,	PUNCT
fsr-3131	406	29	0.484	0.484	NUM
fsr-3131	406	30	]	]	PUNCT
fsr-3131	406	31	,	,	PUNCT
fsr-3131	406	32	and	and	CCONJ
fsr-3131	406	33	[	[	X
fsr-3131	406	34	0.395	0.395	NUM
fsr-3131	406	35	,	,	PUNCT
fsr-3131	406	36	0.398	0.398	NUM
fsr-3131	406	37	]	]	PUNCT
fsr-3131	406	38	for	for	ADP
fsr-3131	406	39	the	the	DET
fsr-3131	406	40	25	25	NUM
fsr-3131	406	41	-	-	PUNCT
fsr-3131	406	42	year	year	NOUN
fsr-3131	406	43	old	old	ADJ
fsr-3131	406	44	,	,	PUNCT
fsr-3131	406	45	40	40	NUM
fsr-3131	406	46	-	-	PUNCT
fsr-3131	406	47	year	year	NOUN
fsr-3131	406	48	old	old	ADJ
fsr-3131	406	49	,	,	PUNCT
fsr-3131	406	50	and	and	CCONJ
fsr-3131	406	51	55	55	NUM
fsr-3131	406	52	-	-	PUNCT
fsr-3131	406	53	year	year	NOUN
fsr-3131	406	54	old	old	ADJ
fsr-3131	406	55	investors	investor	NOUN
fsr-3131	406	56	,	,	PUNCT
fsr-3131	406	57	respectively	respectively	ADV
fsr-3131	406	58	.	.	PUNCT
fsr-3131	407	1	there	there	PRON
fsr-3131	407	2	is	be	VERB
fsr-3131	407	3	a	a	DET
fsr-3131	407	4	significant	significant	ADJ
fsr-3131	407	5	decrease	decrease	NOUN
fsr-3131	407	6	in	in	ADP
fsr-3131	407	7	the	the	DET
fsr-3131	407	8	cv	cv	PROPN
fsr-3131	407	9	-	-	PUNCT
fsr-3131	407	10	tw	tw	NOUN
fsr-3131	407	11	when	when	SCONJ
fsr-3131	407	12	the	the	DET
fsr-3131	407	13	inverse	inverse	NOUN
fsr-3131	407	14	fund	fund	NOUN
fsr-3131	407	15	is	be	AUX
fsr-3131	407	16	used	use	VERB
fsr-3131	407	17	,	,	PUNCT
fsr-3131	407	18	and	and	CCONJ
fsr-3131	407	19	to	to	ADP
fsr-3131	407	20	a	a	DET
fsr-3131	407	21	lesser	less	ADJ
fsr-3131	407	22	degree	degree	NOUN
fsr-3131	407	23	when	when	SCONJ
fsr-3131	407	24	the	the	DET
fsr-3131	407	25	risk	risk	NOUN
fsr-3131	407	26	-	-	PUNCT
fsr-3131	407	27	free	free	ADJ
fsr-3131	407	28	asset	asset	NOUN
fsr-3131	407	29	is	be	AUX
fsr-3131	407	30	included	include	VERB
fsr-3131	407	31	.	.	PUNCT
fsr-3131	408	1	no	no	DET
fsr-3131	408	2	benefits	benefit	NOUN
fsr-3131	408	3	could	could	AUX
fsr-3131	408	4	be	be	AUX
fsr-3131	408	5	found	find	VERB
fsr-3131	408	6	in	in	ADP
fsr-3131	408	7	terms	term	NOUN
fsr-3131	408	8	of	of	ADP
fsr-3131	408	9	the	the	DET
fsr-3131	408	10	cv	cv	PROPN
fsr-3131	408	11	from	from	ADP
fsr-3131	408	12	the	the	DET
fsr-3131	408	13	sharpe	sharpe	PROPN
fsr-3131	408	14	ratio	ratio	PROPN
fsr-3131	408	15	statistics	statistic	NOUN
fsr-3131	408	16	.	.	PUNCT
fsr-3131	409	1	8	8	X
fsr-3131	409	2	.	.	PUNCT
fsr-3131	409	3	conclusions	conclusion	NOUN
fsr-3131	409	4	this	this	DET
fsr-3131	409	5	article	article	NOUN
fsr-3131	409	6	investigated	investigate	VERB
fsr-3131	409	7	the	the	DET
fsr-3131	409	8	risks	risk	NOUN
fsr-3131	409	9	and	and	CCONJ
fsr-3131	409	10	possible	possible	ADJ
fsr-3131	409	11	opportunities	opportunity	NOUN
fsr-3131	409	12	of	of	ADP
fsr-3131	409	13	a	a	DET
fsr-3131	409	14	“	"	PUNCT
fsr-3131	409	15	120	120	NUM
fsr-3131	409	16	–	–	PUNCT
fsr-3131	409	17	age	age	NOUN
fsr-3131	409	18	”	"	PUNCT
fsr-3131	409	19	annual	annual	ADJ
fsr-3131	409	20	reallocation	reallocation	NOUN
fsr-3131	409	21	strategy	strategy	NOUN
fsr-3131	409	22	of	of	ADP
fsr-3131	409	23	stocks	stock	NOUN
fsr-3131	409	24	and	and	CCONJ
fsr-3131	409	25	bonds	bond	NOUN
fsr-3131	409	26	,	,	PUNCT
fsr-3131	409	27	but	but	CCONJ
fsr-3131	409	28	also	also	ADV
fsr-3131	409	29	included	include	VERB
fsr-3131	409	30	a	a	DET
fsr-3131	409	31	small	small	ADJ
fsr-3131	409	32	allocation	allocation	NOUN
fsr-3131	409	33	of	of	ADP
fsr-3131	409	34	inverse	inverse	NOUN
fsr-3131	409	35	or	or	CCONJ
fsr-3131	409	36	leveraged	leverage	VERB
fsr-3131	409	37	stock	stock	NOUN
fsr-3131	409	38	fund	fund	NOUN
fsr-3131	409	39	.	.	PUNCT
fsr-3131	410	1	the	the	DET
fsr-3131	410	2	assessment	assessment	NOUN
fsr-3131	410	3	was	be	AUX
fsr-3131	410	4	based	base	VERB
fsr-3131	410	5	on	on	ADP
fsr-3131	410	6	three	three	NUM
fsr-3131	410	7	different	different	ADJ
fsr-3131	410	8	risk	risk	NOUN
fsr-3131	410	9	aversion	aversion	NOUN
fsr-3131	410	10	levels	level	NOUN
fsr-3131	410	11	,	,	PUNCT
fsr-3131	410	12	and	and	CCONJ
fsr-3131	410	13	simulated	simulated	ADJ
fsr-3131	410	14	inverse	inverse	NOUN
fsr-3131	410	15	and	and	CCONJ
fsr-3131	410	16	leveraged	leveraged	ADJ
fsr-3131	410	17	equity	equity	NOUN
fsr-3131	410	18	fund	fund	NOUN
fsr-3131	410	19	returns	return	NOUN
fsr-3131	410	20	that	that	PRON
fsr-3131	410	21	included	include	VERB
fsr-3131	410	22	expenses	expense	NOUN
fsr-3131	410	23	and	and	CCONJ
fsr-3131	410	24	fees	fee	NOUN
fsr-3131	410	25	.	.	PUNCT
fsr-3131	411	1	we	we	PRON
fsr-3131	411	2	also	also	ADV
fsr-3131	411	3	included	include	VERB
fsr-3131	411	4	several	several	ADJ
fsr-3131	411	5	variations	variation	NOUN
fsr-3131	411	6	of	of	ADP
fsr-3131	411	7	alternative	alternative	ADJ
fsr-3131	411	8	stock	stock	NOUN
fsr-3131	411	9	and	and	CCONJ
fsr-3131	411	10	bond	bond	NOUN
fsr-3131	411	11	funds	fund	NOUN
fsr-3131	411	12	that	that	PRON
fsr-3131	411	13	might	might	AUX
fsr-3131	411	14	be	be	AUX
fsr-3131	411	15	selected	select	VERB
fsr-3131	411	16	by	by	ADP
fsr-3131	411	17	individual	individual	ADJ
fsr-3131	411	18	investors	investor	NOUN
fsr-3131	411	19	and	and	CCONJ
fsr-3131	411	20	financial	financial	ADJ
fsr-3131	411	21	planners	planner	NOUN
fsr-3131	411	22	in	in	ADP
fsr-3131	411	23	their	their	PRON
fsr-3131	411	24	asset	asset	NOUN
fsr-3131	411	25	allocation	allocation	NOUN
fsr-3131	411	26	decision	decision	NOUN
fsr-3131	411	27	.	.	PUNCT
fsr-3131	412	1	terminal	terminal	ADJ
fsr-3131	412	2	wealth	wealth	NOUN
fsr-3131	412	3	and	and	CCONJ
fsr-3131	412	4	sharpe	sharpe	PROPN
fsr-3131	412	5	ratio	ratio	PROPN
fsr-3131	412	6	statistics	statistic	NOUN
fsr-3131	412	7	were	be	AUX
fsr-3131	412	8	obtained	obtain	VERB
fsr-3131	412	9	by	by	ADP
fsr-3131	412	10	monte	monte	PROPN
fsr-3131	412	11	carlo	carlo	PROPN
fsr-3131	412	12	simulation	simulation	PROPN
fsr-3131	412	13	that	that	PRON
fsr-3131	412	14	selected	select	VERB
fsr-3131	412	15	from	from	ADP
fsr-3131	412	16	return	return	NOUN
fsr-3131	412	17	histories	history	NOUN
fsr-3131	412	18	using	use	VERB
fsr-3131	412	19	two	two	NUM
fsr-3131	412	20	unique	unique	ADJ
fsr-3131	412	21	historical	historical	ADJ
fsr-3131	412	22	periods	period	NOUN
fsr-3131	412	23	,	,	PUNCT
fsr-3131	412	24	representing	represent	VERB
fsr-3131	412	25	both	both	CCONJ
fsr-3131	412	26	“	"	PUNCT
fsr-3131	412	27	flat	flat	ADJ
fsr-3131	412	28	”	"	PUNCT
fsr-3131	412	29	and	and	CCONJ
fsr-3131	412	30	“	"	PUNCT
fsr-3131	412	31	rising	rise	VERB
fsr-3131	412	32	”	"	PUNCT
fsr-3131	412	33	cases	case	NOUN
fsr-3131	412	34	of	of	ADP
fsr-3131	412	35	long	long	ADJ
fsr-3131	412	36	-	-	PUNCT
fsr-3131	412	37	term	term	NOUN
fsr-3131	412	38	equity	equity	NOUN
fsr-3131	412	39	returns	return	NOUN
fsr-3131	412	40	,	,	PUNCT
fsr-3131	412	41	rather	rather	ADV
fsr-3131	412	42	than	than	ADP
fsr-3131	412	43	assuming	assume	VERB
fsr-3131	412	44	prices	price	NOUN
fsr-3131	412	45	followed	follow	VERB
fsr-3131	412	46	standard	standard	ADJ
fsr-3131	412	47	geometric	geometric	ADJ
fsr-3131	412	48	brownian	brownian	ADJ
fsr-3131	412	49	motion	motion	NOUN
fsr-3131	412	50	.	.	PUNCT
fsr-3131	413	1	table	table	NOUN
fsr-3131	413	2	13	13	NUM
fsr-3131	413	3	.	.	PUNCT
fsr-3131	414	1	statistics	statistic	NOUN
fsr-3131	414	2	using	use	VERB
fsr-3131	414	3	2001–2010	2001–2010	NUM
fsr-3131	414	4	return	return	NOUN
fsr-3131	414	5	distributions	distribution	NOUN
fsr-3131	414	6	for	for	ADP
fsr-3131	414	7	simulation	simulation	NOUN
fsr-3131	414	8	sampling	sampling	NOUN
fsr-3131	414	9	,	,	PUNCT
fsr-3131	414	10	small	small	ADJ
fsr-3131	414	11	-	-	PUNCT
fsr-3131	414	12	cap	cap	NOUN
fsr-3131	414	13	index	index	NOUN
fsr-3131	414	14	fund	fund	NOUN
fsr-3131	414	15	(	(	PUNCT
fsr-3131	414	16	naesx	naesx	PROPN
fsr-3131	414	17	)	)	PUNCT
fsr-3131	414	18	traditional	traditional	ADJ
fsr-3131	414	19	allocation	allocation	NOUN
fsr-3131	414	20	alternative	alternative	NOUN
fsr-3131	414	21	allocation	allocation	NOUN
fsr-3131	414	22	with	with	ADP
fsr-3131	414	23	inverse	inverse	NOUN
fsr-3131	414	24	(	(	PUNCT
fsr-3131	414	25	�	�	PROPN
fsr-3131	414	26	1	1	NUM
fsr-3131	414	27	�	�	PROPN
fsr-3131	414	28	)	)	PUNCT
fsr-3131	414	29	fund	fund	NOUN
fsr-3131	414	30	25	25	NUM
fsr-3131	414	31	-	-	PUNCT
fsr-3131	414	32	year	year	NOUN
fsr-3131	414	33	old	old	ADJ
fsr-3131	414	34	40	40	NUM
fsr-3131	414	35	-	-	PUNCT
fsr-3131	414	36	year	year	NOUN
fsr-3131	414	37	old	old	ADJ
fsr-3131	414	38	55	55	NUM
fsr-3131	414	39	-	-	PUNCT
fsr-3131	414	40	year	year	NOUN
fsr-3131	414	41	old	old	ADJ
fsr-3131	414	42	25	25	NUM
fsr-3131	414	43	-	-	PUNCT
fsr-3131	414	44	year	year	NOUN
fsr-3131	414	45	old	old	ADJ
fsr-3131	414	46	40	40	NUM
fsr-3131	414	47	-	-	PUNCT
fsr-3131	414	48	year	year	NOUN
fsr-3131	414	49	old	old	ADJ
fsr-3131	414	50	55	55	NUM
fsr-3131	414	51	-	-	PUNCT
fsr-3131	414	52	year	year	NOUN
fsr-3131	414	53	old	old	ADJ
fsr-3131	414	54	terminal	terminal	ADJ
fsr-3131	414	55	wealth	wealth	NOUN
fsr-3131	414	56	statistics	statistic	NOUN
fsr-3131	414	57	standard	standard	ADJ
fsr-3131	414	58	deviation	deviation	NOUN
fsr-3131	414	59	$	$	SYM
fsr-3131	414	60	1,912	1,912	NUM
fsr-3131	414	61	$	$	SYM
fsr-3131	414	62	1,480	1,480	NUM
fsr-3131	414	63	$	$	SYM
fsr-3131	414	64	1,112	1,112	NUM
fsr-3131	414	65	$	$	SYM
fsr-3131	414	66	1,277	1,277	NUM
fsr-3131	414	67	$	$	SYM
fsr-3131	414	68	981	981	NUM
fsr-3131	414	69	$	$	SYM
fsr-3131	414	70	725	725	NUM
fsr-3131	414	71	mean	mean	NOUN
fsr-3131	414	72	$	$	SYM
fsr-3131	414	73	2,538	2,538	NUM
fsr-3131	414	74	$	$	SYM
fsr-3131	414	75	2,384	2,384	NUM
fsr-3131	414	76	$	$	SYM
fsr-3131	414	77	2,239	2,239	NUM
fsr-3131	414	78	$	$	SYM
fsr-3131	414	79	2,100	2,100	NUM
fsr-3131	414	80	$	$	SYM
fsr-3131	414	81	1,984	1,984	NUM
fsr-3131	414	82	$	$	SYM
fsr-3131	414	83	1,872	1,872	NUM
fsr-3131	414	84	cv	cv	PROPN
fsr-3131	414	85	-	-	PUNCT
fsr-3131	414	86	tw	tw	PROPN
fsr-3131	414	87	0.753	0.753	NUM
fsr-3131	414	88	0.621	0.621	NUM
fsr-3131	414	89	0.497	0.497	NUM
fsr-3131	414	90	0.608	0.608	NUM
fsr-3131	414	91	0.495	0.495	NUM
fsr-3131	414	92	0.387	0.387	NUM
fsr-3131	414	93	sharpe	sharpe	PROPN
fsr-3131	414	94	ratio	ratio	PROPN
fsr-3131	414	95	statistics	statistic	NOUN
fsr-3131	414	96	standard	standard	ADJ
fsr-3131	414	97	deviation	deviation	NOUN
fsr-3131	414	98	0.096	0.096	NUM
fsr-3131	414	99	0.096	0.096	NUM
fsr-3131	414	100	0.096	0.096	NUM
fsr-3131	414	101	0.096	0.096	NUM
fsr-3131	414	102	0.096	0.096	NUM
fsr-3131	414	103	0.096	0.096	NUM
fsr-3131	414	104	mean	mean	VERB
fsr-3131	414	105	0.102	0.102	NUM
fsr-3131	415	1	0.110	0.110	NUM
fsr-3131	415	2	0.121	0.121	NUM
fsr-3131	415	3	0.091	0.091	NUM
fsr-3131	415	4	0.098	0.098	NUM
fsr-3131	415	5	0.108	0.108	NUM
fsr-3131	415	6	cv	cv	PROPN
fsr-3131	415	7	-	-	PUNCT
fsr-3131	415	8	s	s	PRON
fsr-3131	415	9	0.939	0.939	NUM
fsr-3131	415	10	0.874	0.874	NUM
fsr-3131	415	11	0.795	0.795	NUM
fsr-3131	415	12	1.056	1.056	NUM
fsr-3131	415	13	0.984	0.984	NUM
fsr-3131	415	14	0.892	0.892	NUM
fsr-3131	415	15	alternative	alternative	ADJ
fsr-3131	415	16	allocation	allocation	NOUN
fsr-3131	415	17	with	with	ADP
fsr-3131	415	18	risk	risk	NOUN
fsr-3131	415	19	-	-	PUNCT
fsr-3131	415	20	free	free	ADJ
fsr-3131	415	21	asset	asset	NOUN
fsr-3131	415	22	alternative	alternative	ADJ
fsr-3131	415	23	allocation	allocation	NOUN
fsr-3131	415	24	with	with	ADP
fsr-3131	415	25	leveraged	leveraged	ADJ
fsr-3131	415	26	(	(	PUNCT
fsr-3131	415	27	2	2	NUM
fsr-3131	415	28	�	�	NOUN
fsr-3131	415	29	)	)	PUNCT
fsr-3131	415	30	fund	fund	NOUN
fsr-3131	415	31	25	25	NUM
fsr-3131	415	32	-	-	PUNCT
fsr-3131	415	33	year	year	NOUN
fsr-3131	415	34	old	old	ADJ
fsr-3131	415	35	40	40	NUM
fsr-3131	415	36	-	-	PUNCT
fsr-3131	415	37	year	year	NOUN
fsr-3131	415	38	old	old	ADJ
fsr-3131	415	39	55	55	NUM
fsr-3131	415	40	-	-	PUNCT
fsr-3131	415	41	year	year	NOUN
fsr-3131	415	42	old	old	ADJ
fsr-3131	415	43	25	25	NUM
fsr-3131	415	44	-	-	PUNCT
fsr-3131	415	45	year	year	NOUN
fsr-3131	415	46	old	old	ADJ
fsr-3131	415	47	40	40	NUM
fsr-3131	415	48	-	-	PUNCT
fsr-3131	415	49	year	year	NOUN
fsr-3131	415	50	old	old	ADJ
fsr-3131	415	51	55	55	NUM
fsr-3131	415	52	-	-	PUNCT
fsr-3131	415	53	year	year	NOUN
fsr-3131	415	54	old	old	ADJ
fsr-3131	415	55	terminal	terminal	ADJ
fsr-3131	415	56	wealth	wealth	NOUN
fsr-3131	415	57	statistics	statistic	NOUN
fsr-3131	415	58	standard	standard	ADJ
fsr-3131	415	59	deviation	deviation	NOUN
fsr-3131	415	60	$	$	SYM
fsr-3131	415	61	1,594	1,594	NUM
fsr-3131	415	62	$	$	SYM
fsr-3131	415	63	1,245	1,245	NUM
fsr-3131	415	64	$	$	SYM
fsr-3131	415	65	944	944	NUM
fsr-3131	415	66	$	$	SYM
fsr-3131	415	67	2,374	2,374	NUM
fsr-3131	415	68	$	$	SYM
fsr-3131	415	69	1,918	1,918	NUM
fsr-3131	415	70	$	$	SYM
fsr-3131	415	71	1,524	1,524	NUM
fsr-3131	415	72	mean	mean	NOUN
fsr-3131	415	73	$	$	SYM
fsr-3131	415	74	2,370	2,370	NUM
fsr-3131	415	75	$	$	SYM
fsr-3131	415	76	2,239	2,239	NUM
fsr-3131	415	77	$	$	SYM
fsr-3131	415	78	2,115	2,115	NUM
fsr-3131	415	79	$	$	SYM
fsr-3131	415	80	2,738	2,738	NUM
fsr-3131	415	81	$	$	SYM
fsr-3131	415	82	2,592	2,592	NUM
fsr-3131	415	83	$	$	SYM
fsr-3131	415	84	2,452	2,452	NUM
fsr-3131	415	85	cv	cv	NOUN
fsr-3131	415	86	-	-	PUNCT
fsr-3131	415	87	tw	tw	PROPN
fsr-3131	415	88	0.673	0.673	NUM
fsr-3131	415	89	0.556	0.556	NUM
fsr-3131	415	90	0.446	0.446	NUM
fsr-3131	415	91	0.867	0.867	NUM
fsr-3131	415	92	0.740	0.740	NUM
fsr-3131	415	93	0.621	0.621	NUM
fsr-3131	415	94	sharpe	sharpe	PROPN
fsr-3131	415	95	ratio	ratio	PROPN
fsr-3131	415	96	statistics	statistic	NOUN
fsr-3131	415	97	standard	standard	ADJ
fsr-3131	415	98	deviation	deviation	NOUN
fsr-3131	415	99	0.096	0.096	NUM
fsr-3131	415	100	0.096	0.096	NUM
fsr-3131	415	101	0.097	0.097	NUM
fsr-3131	415	102	0.096	0.096	NUM
fsr-3131	415	103	0.096	0.096	NUM
fsr-3131	415	104	0.096	0.096	NUM
fsr-3131	415	105	mean	mean	VERB
fsr-3131	415	106	0.102	0.102	NUM
fsr-3131	415	107	0.110	0.110	NUM
fsr-3131	415	108	0.121	0.121	NUM
fsr-3131	415	109	0.101	0.101	NUM
fsr-3131	415	110	0.107	0.107	NUM
fsr-3131	415	111	0.115	0.115	NUM
fsr-3131	415	112	cv	cv	PROPN
fsr-3131	415	113	-	-	PUNCT
fsr-3131	415	114	s	s	PART
fsr-3131	415	115	0.941	0.941	NUM
fsr-3131	415	116	0.876	0.876	NUM
fsr-3131	415	117	0.797	0.797	NUM
fsr-3131	415	118	0.945	0.945	NUM
fsr-3131	415	119	0.893	0.893	NUM
fsr-3131	415	120	0.832	0.832	NUM
fsr-3131	415	121	notes	note	NOUN
fsr-3131	415	122	.	.	PUNCT
fsr-3131	416	1	this	this	DET
fsr-3131	416	2	table	table	NOUN
fsr-3131	416	3	shows	show	VERB
fsr-3131	416	4	central	central	ADJ
fsr-3131	416	5	tendency	tendency	NOUN
fsr-3131	416	6	and	and	CCONJ
fsr-3131	416	7	dispersion	dispersion	NOUN
fsr-3131	416	8	of	of	ADP
fsr-3131	416	9	terminal	terminal	ADJ
fsr-3131	416	10	wealth	wealth	NOUN
fsr-3131	416	11	and	and	CCONJ
fsr-3131	416	12	sharpe	sharpe	NOUN
fsr-3131	416	13	ratios	ratio	NOUN
fsr-3131	416	14	for	for	ADP
fsr-3131	416	15	each	each	PRON
fsr-3131	416	16	of	of	ADP
fsr-3131	416	17	the	the	DET
fsr-3131	416	18	three	three	NUM
fsr-3131	416	19	investors	investor	NOUN
fsr-3131	416	20	identified	identify	VERB
fsr-3131	416	21	.	.	PUNCT
fsr-3131	417	1	results	result	NOUN
fsr-3131	417	2	were	be	AUX
fsr-3131	417	3	obtained	obtain	VERB
fsr-3131	417	4	from	from	ADP
fsr-3131	417	5	100,000	100,000	NUM
fsr-3131	417	6	trials	trial	NOUN
fsr-3131	417	7	,	,	PUNCT
fsr-3131	417	8	annual	annual	ADJ
fsr-3131	417	9	rebalancing	rebalancing	NOUN
fsr-3131	417	10	,	,	PUNCT
fsr-3131	417	11	and	and	CCONJ
fsr-3131	417	12	an	an	DET
fsr-3131	417	13	annual	annual	ADJ
fsr-3131	417	14	fee	fee	NOUN
fsr-3131	417	15	as	as	SCONJ
fsr-3131	417	16	shown	show	VERB
fsr-3131	417	17	in	in	ADP
fsr-3131	417	18	the	the	DET
fsr-3131	417	19	last	last	ADJ
fsr-3131	417	20	column	column	NOUN
fsr-3131	417	21	of	of	ADP
fsr-3131	417	22	tables	table	NOUN
fsr-3131	417	23	8	8	NUM
fsr-3131	417	24	and	and	CCONJ
fsr-3131	417	25	9	9	NUM
fsr-3131	417	26	for	for	ADP
fsr-3131	417	27	the	the	DET
fsr-3131	417	28	simulated	simulated	ADJ
fsr-3131	417	29	inverse	inverse	NOUN
fsr-3131	417	30	or	or	CCONJ
fsr-3131	417	31	leveraged	leverage	VERB
fsr-3131	417	32	stock	stock	NOUN
fsr-3131	417	33	fund	fund	NOUN
fsr-3131	417	34	.	.	PUNCT
fsr-3131	418	1	143j.a	143j.a	X
fsr-3131	418	2	.	.	PUNCT
fsr-3131	419	1	dilellio	dilellio	PROPN
fsr-3131	419	2	,	,	PUNCT
fsr-3131	419	3	r.	r.	PROPN
fsr-3131	419	4	hesse	hesse	PROPN
fsr-3131	419	5	,	,	PUNCT
fsr-3131	419	6	d.j	d.j	PROPN
fsr-3131	419	7	.	.	PROPN
fsr-3131	419	8	stanley	stanley	PROPN
fsr-3131	419	9	/	/	SYM
fsr-3131	419	10	financial	financial	ADJ
fsr-3131	419	11	services	service	NOUN
fsr-3131	419	12	review	review	VERB
fsr-3131	419	13	23	23	NUM
fsr-3131	419	14	(	(	PUNCT
fsr-3131	419	15	2014	2014	NUM
fsr-3131	419	16	)	)	PUNCT
fsr-3131	420	1	123–149	123–149	NUM
fsr-3131	420	2	the	the	DET
fsr-3131	420	3	findings	finding	NOUN
fsr-3131	420	4	,	,	PUNCT
fsr-3131	420	5	developed	develop	VERB
fsr-3131	420	6	under	under	ADP
fsr-3131	420	7	various	various	ADJ
fsr-3131	420	8	stock	stock	NOUN
fsr-3131	420	9	and	and	CCONJ
fsr-3131	420	10	bond	bond	NOUN
fsr-3131	420	11	alternatives	alternative	NOUN
fsr-3131	420	12	,	,	PUNCT
fsr-3131	420	13	showed	show	VERB
fsr-3131	420	14	that	that	SCONJ
fsr-3131	420	15	under	under	ADP
fsr-3131	420	16	both	both	PRON
fsr-3131	420	17	“	"	PUNCT
fsr-3131	420	18	flat	flat	ADJ
fsr-3131	420	19	”	"	PUNCT
fsr-3131	420	20	and	and	CCONJ
fsr-3131	420	21	“	"	PUNCT
fsr-3131	420	22	rising	rise	VERB
fsr-3131	420	23	”	"	PUNCT
fsr-3131	420	24	return	return	NOUN
fsr-3131	420	25	histories	history	NOUN
fsr-3131	420	26	,	,	PUNCT
fsr-3131	420	27	annual	annual	ADJ
fsr-3131	420	28	rebalancing	rebalancing	NOUN
fsr-3131	420	29	to	to	PART
fsr-3131	420	30	include	include	VERB
fsr-3131	420	31	a	a	DET
fsr-3131	420	32	10	10	NUM
fsr-3131	420	33	%	%	NOUN
fsr-3131	420	34	allocation	allocation	NOUN
fsr-3131	420	35	towards	towards	ADP
fsr-3131	420	36	an	an	DET
fsr-3131	420	37	inverse	inverse	NOUN
fsr-3131	420	38	stock	stock	NOUN
fsr-3131	420	39	fund	fund	NOUN
fsr-3131	420	40	provides	provide	VERB
fsr-3131	420	41	a	a	DET
fsr-3131	420	42	diversification	diversification	NOUN
fsr-3131	420	43	benefit	benefit	NOUN
fsr-3131	420	44	by	by	ADP
fsr-3131	420	45	reducing	reduce	VERB
fsr-3131	420	46	the	the	DET
fsr-3131	420	47	cv	cv	PROPN
fsr-3131	420	48	of	of	ADP
fsr-3131	420	49	terminal	terminal	ADJ
fsr-3131	420	50	wealth	wealth	NOUN
fsr-3131	420	51	.	.	PUNCT
fsr-3131	421	1	the	the	DET
fsr-3131	421	2	diversification	diversification	NOUN
fsr-3131	421	3	benefit	benefit	NOUN
fsr-3131	421	4	is	be	AUX
fsr-3131	421	5	strengthened	strengthen	VERB
fsr-3131	421	6	when	when	SCONJ
fsr-3131	421	7	stock	stock	NOUN
fsr-3131	421	8	returns	return	NOUN
fsr-3131	421	9	are	be	AUX
fsr-3131	421	10	“	"	PUNCT
fsr-3131	421	11	flat	flat	ADJ
fsr-3131	421	12	.	.	PUNCT
fsr-3131	421	13	”	"	PUNCT
fsr-3131	422	1	further	far	ADV
fsr-3131	422	2	,	,	PUNCT
fsr-3131	422	3	it	it	PRON
fsr-3131	422	4	always	always	ADV
fsr-3131	422	5	exceeded	exceed	VERB
fsr-3131	422	6	the	the	DET
fsr-3131	422	7	benefit	benefit	NOUN
fsr-3131	422	8	of	of	ADP
fsr-3131	422	9	simply	simply	ADV
fsr-3131	422	10	using	use	VERB
fsr-3131	422	11	a	a	DET
fsr-3131	422	12	risk	risk	NOUN
fsr-3131	422	13	-	-	PUNCT
fsr-3131	422	14	free	free	ADJ
fsr-3131	422	15	asset	asset	NOUN
fsr-3131	422	16	.	.	PUNCT
fsr-3131	423	1	unfortunately	unfortunately	ADV
fsr-3131	423	2	,	,	PUNCT
fsr-3131	423	3	the	the	DET
fsr-3131	423	4	benefit	benefit	NOUN
fsr-3131	423	5	observed	observe	VERB
fsr-3131	423	6	by	by	ADP
fsr-3131	423	7	measuring	measure	VERB
fsr-3131	423	8	the	the	DET
fsr-3131	423	9	cv	cv	PROPN
fsr-3131	423	10	of	of	ADP
fsr-3131	423	11	terminal	terminal	ADJ
fsr-3131	423	12	wealth	wealth	NOUN
fsr-3131	423	13	was	be	AUX
fsr-3131	423	14	not	not	PART
fsr-3131	423	15	corroborated	corroborate	VERB
fsr-3131	423	16	with	with	ADP
fsr-3131	423	17	sharpe	sharpe	PROPN
fsr-3131	423	18	ratio	ratio	PROPN
fsr-3131	423	19	statistics	statistic	NOUN
fsr-3131	423	20	.	.	PUNCT
fsr-3131	424	1	additionally	additionally	ADV
fsr-3131	424	2	,	,	PUNCT
fsr-3131	424	3	leveraged	leveraged	ADJ
fsr-3131	424	4	etfs	etfs	NOUN
fsr-3131	424	5	were	be	AUX
fsr-3131	424	6	never	never	ADV
fsr-3131	424	7	found	find	VERB
fsr-3131	424	8	to	to	PART
fsr-3131	424	9	provide	provide	VERB
fsr-3131	424	10	a	a	DET
fsr-3131	424	11	risk	risk	NOUN
fsr-3131	424	12	-	-	PUNCT
fsr-3131	424	13	reward	reward	NOUN
fsr-3131	424	14	benefit	benefit	NOUN
fsr-3131	424	15	preferred	prefer	VERB
fsr-3131	424	16	by	by	ADP
fsr-3131	424	17	rational	rational	ADJ
fsr-3131	424	18	investors	investor	NOUN
fsr-3131	424	19	interested	interested	ADJ
fsr-3131	424	20	in	in	ADP
fsr-3131	424	21	terminal	terminal	ADJ
fsr-3131	424	22	wealth	wealth	NOUN
fsr-3131	424	23	,	,	PUNCT
fsr-3131	424	24	but	but	CCONJ
fsr-3131	424	25	sharpe	sharpe	PROPN
fsr-3131	424	26	ratio	ratio	PROPN
fsr-3131	424	27	statistics	statistic	NOUN
fsr-3131	424	28	did	do	AUX
fsr-3131	424	29	show	show	VERB
fsr-3131	424	30	a	a	DET
fsr-3131	424	31	benefit	benefit	NOUN
fsr-3131	424	32	in	in	ADP
fsr-3131	424	33	rising	rise	VERB
fsr-3131	424	34	equity	equity	NOUN
fsr-3131	424	35	markets	market	NOUN
fsr-3131	424	36	.	.	PUNCT
fsr-3131	425	1	these	these	DET
fsr-3131	425	2	results	result	NOUN
fsr-3131	425	3	,	,	PUNCT
fsr-3131	425	4	and	and	CCONJ
fsr-3131	425	5	the	the	DET
fsr-3131	425	6	potential	potential	ADJ
fsr-3131	425	7	diversification	diversification	NOUN
fsr-3131	425	8	benefits	benefit	NOUN
fsr-3131	425	9	of	of	ADP
fsr-3131	425	10	inverse	inverse	NOUN
fsr-3131	425	11	and	and	CCONJ
fsr-3131	425	12	leveraged	leveraged	ADJ
fsr-3131	425	13	etfs	etfs	NOUN
fsr-3131	425	14	,	,	PUNCT
fsr-3131	425	15	call	call	VERB
fsr-3131	425	16	into	into	ADP
fsr-3131	425	17	question	question	NOUN
fsr-3131	425	18	the	the	DET
fsr-3131	425	19	current	current	ADJ
fsr-3131	425	20	recommendation	recommendation	NOUN
fsr-3131	425	21	that	that	SCONJ
fsr-3131	425	22	they	they	PRON
fsr-3131	425	23	are	be	AUX
fsr-3131	425	24	always	always	ADV
fsr-3131	425	25	detrimental	detrimental	ADJ
fsr-3131	425	26	to	to	ADP
fsr-3131	425	27	long	long	ADJ
fsr-3131	425	28	-	-	PUNCT
fsr-3131	425	29	term	term	NOUN
fsr-3131	425	30	investors	investor	NOUN
fsr-3131	425	31	,	,	PUNCT
fsr-3131	425	32	and	and	CCONJ
fsr-3131	425	33	only	only	ADV
fsr-3131	425	34	beneficial	beneficial	ADJ
fsr-3131	425	35	for	for	ADP
fsr-3131	425	36	short	short	ADJ
fsr-3131	425	37	-	-	PUNCT
fsr-3131	425	38	term	term	NOUN
fsr-3131	425	39	trading	trading	NOUN
fsr-3131	425	40	.	.	PUNCT
fsr-3131	426	1	although	although	SCONJ
fsr-3131	426	2	these	these	DET
fsr-3131	426	3	findings	finding	NOUN
fsr-3131	426	4	suggest	suggest	VERB
fsr-3131	426	5	that	that	SCONJ
fsr-3131	426	6	additional	additional	ADJ
fsr-3131	426	7	analytical	analytical	ADJ
fsr-3131	426	8	and	and	CCONJ
fsr-3131	426	9	empirical	empirical	ADJ
fsr-3131	426	10	studies	study	NOUN
fsr-3131	426	11	may	may	AUX
fsr-3131	426	12	be	be	AUX
fsr-3131	426	13	warranted	warrant	VERB
fsr-3131	426	14	to	to	PART
fsr-3131	426	15	better	well	ADV
fsr-3131	426	16	assess	assess	VERB
fsr-3131	426	17	their	their	PRON
fsr-3131	426	18	impact	impact	NOUN
fsr-3131	426	19	on	on	ADP
fsr-3131	426	20	asset	asset	NOUN
fsr-3131	426	21	allocation	allocation	NOUN
fsr-3131	426	22	decisions	decision	NOUN
fsr-3131	426	23	made	make	VERB
fsr-3131	426	24	by	by	ADP
fsr-3131	426	25	individual	individual	ADJ
fsr-3131	426	26	investors	investor	NOUN
fsr-3131	426	27	and	and	CCONJ
fsr-3131	426	28	financial	financial	ADJ
fsr-3131	426	29	planners	planner	NOUN
fsr-3131	426	30	,	,	PUNCT
fsr-3131	426	31	both	both	PRON
fsr-3131	426	32	must	must	AUX
fsr-3131	426	33	consider	consider	VERB
fsr-3131	426	34	the	the	DET
fsr-3131	426	35	addition	addition	NOUN
fsr-3131	426	36	of	of	ADP
fsr-3131	426	37	inverse	inverse	NOUN
fsr-3131	426	38	or	or	CCONJ
fsr-3131	426	39	leverage	leverage	NOUN
fsr-3131	426	40	stock	stock	NOUN
fsr-3131	426	41	funds	fund	NOUN
fsr-3131	426	42	to	to	PART
fsr-3131	426	43	improve	improve	VERB
fsr-3131	426	44	wealth	wealth	NOUN
fsr-3131	426	45	maximization	maximization	NOUN
fsr-3131	426	46	under	under	ADP
fsr-3131	426	47	appropriate	appropriate	ADJ
fsr-3131	426	48	risk	risk	NOUN
fsr-3131	426	49	-	-	PUNCT
fsr-3131	426	50	reward	reward	NOUN
fsr-3131	426	51	tradeoff	tradeoff	NOUN
fsr-3131	426	52	.	.	PUNCT
fsr-3131	427	1	the	the	DET
fsr-3131	427	2	source	source	NOUN
fsr-3131	427	3	of	of	ADP
fsr-3131	427	4	this	this	DET
fsr-3131	427	5	somewhat	somewhat	ADV
fsr-3131	427	6	unexpected	unexpected	ADJ
fsr-3131	427	7	behavior	behavior	NOUN
fsr-3131	427	8	likely	likely	ADV
fsr-3131	427	9	lies	lie	VERB
fsr-3131	427	10	in	in	ADP
fsr-3131	427	11	a	a	DET
fsr-3131	427	12	return	return	NOUN
fsr-3131	427	13	history	history	NOUN
fsr-3131	427	14	that	that	PRON
fsr-3131	427	15	is	be	AUX
fsr-3131	427	16	not	not	PART
fsr-3131	427	17	normally	normally	ADV
fsr-3131	427	18	distributed	distribute	VERB
fsr-3131	427	19	in	in	ADP
fsr-3131	427	20	the	the	DET
fsr-3131	427	21	observed	observe	VERB
fsr-3131	427	22	distribution	distribution	NOUN
fsr-3131	427	23	’s	’s	PART
fsr-3131	427	24	tails	tail	NOUN
fsr-3131	427	25	,	,	PUNCT
fsr-3131	427	26	and	and	CCONJ
fsr-3131	427	27	thus	thus	ADV
fsr-3131	427	28	may	may	AUX
fsr-3131	427	29	influence	influence	VERB
fsr-3131	427	30	long	long	ADJ
fsr-3131	427	31	-	-	PUNCT
fsr-3131	427	32	range	range	NOUN
fsr-3131	427	33	plans	plan	NOUN
fsr-3131	427	34	that	that	PRON
fsr-3131	427	35	are	be	AUX
fsr-3131	427	36	important	important	ADJ
fsr-3131	427	37	to	to	ADP
fsr-3131	427	38	individual	individual	ADJ
fsr-3131	427	39	investors	investor	NOUN
fsr-3131	427	40	and	and	CCONJ
fsr-3131	427	41	financial	financial	ADJ
fsr-3131	427	42	planners	planner	NOUN
fsr-3131	427	43	.	.	PUNCT
fsr-3131	428	1	future	future	ADJ
fsr-3131	428	2	work	work	NOUN
fsr-3131	428	3	in	in	ADP
fsr-3131	428	4	this	this	DET
fsr-3131	428	5	area	area	NOUN
fsr-3131	428	6	can	can	AUX
fsr-3131	428	7	cover	cover	VERB
fsr-3131	428	8	several	several	ADJ
fsr-3131	428	9	areas	area	NOUN
fsr-3131	428	10	.	.	PUNCT
fsr-3131	429	1	first	first	ADV
fsr-3131	429	2	,	,	PUNCT
fsr-3131	429	3	a	a	DET
fsr-3131	429	4	more	more	ADV
fsr-3131	429	5	comprehensive	comprehensive	ADJ
fsr-3131	429	6	set	set	NOUN
fsr-3131	429	7	of	of	ADP
fsr-3131	429	8	cases	case	NOUN
fsr-3131	429	9	table	table	VERB
fsr-3131	429	10	14	14	NUM
fsr-3131	429	11	statistics	statistic	NOUN
fsr-3131	429	12	using	use	VERB
fsr-3131	429	13	1991–2000	1991–2000	NUM
fsr-3131	429	14	return	return	NOUN
fsr-3131	429	15	distributions	distribution	NOUN
fsr-3131	429	16	for	for	ADP
fsr-3131	429	17	simulation	simulation	NOUN
fsr-3131	429	18	sampling	sampling	NOUN
fsr-3131	429	19	,	,	PUNCT
fsr-3131	429	20	small	small	ADJ
fsr-3131	429	21	-	-	PUNCT
fsr-3131	429	22	cap	cap	NOUN
fsr-3131	429	23	index	index	NOUN
fsr-3131	429	24	fund	fund	NOUN
fsr-3131	429	25	(	(	PUNCT
fsr-3131	429	26	naesx	naesx	PROPN
fsr-3131	429	27	)	)	PUNCT
fsr-3131	429	28	traditional	traditional	ADJ
fsr-3131	429	29	allocation	allocation	NOUN
fsr-3131	429	30	alternative	alternative	NOUN
fsr-3131	429	31	allocation	allocation	NOUN
fsr-3131	429	32	with	with	ADP
fsr-3131	429	33	inverse	inverse	NOUN
fsr-3131	429	34	(	(	PUNCT
fsr-3131	429	35	�	�	PROPN
fsr-3131	429	36	1	1	NUM
fsr-3131	429	37	�	�	PROPN
fsr-3131	429	38	)	)	PUNCT
fsr-3131	429	39	fund	fund	NOUN
fsr-3131	429	40	25	25	NUM
fsr-3131	429	41	-	-	PUNCT
fsr-3131	429	42	year	year	NOUN
fsr-3131	429	43	old	old	ADJ
fsr-3131	429	44	40	40	NUM
fsr-3131	429	45	-	-	PUNCT
fsr-3131	429	46	year	year	NOUN
fsr-3131	429	47	old	old	ADJ
fsr-3131	429	48	55	55	NUM
fsr-3131	429	49	-	-	PUNCT
fsr-3131	429	50	year	year	NOUN
fsr-3131	429	51	old	old	ADJ
fsr-3131	429	52	25	25	NUM
fsr-3131	429	53	-	-	PUNCT
fsr-3131	429	54	year	year	NOUN
fsr-3131	429	55	old	old	ADJ
fsr-3131	429	56	40	40	NUM
fsr-3131	429	57	-	-	PUNCT
fsr-3131	429	58	year	year	NOUN
fsr-3131	429	59	old	old	ADJ
fsr-3131	429	60	55	55	NUM
fsr-3131	429	61	-	-	PUNCT
fsr-3131	429	62	year	year	NOUN
fsr-3131	429	63	old	old	ADJ
fsr-3131	429	64	terminal	terminal	ADJ
fsr-3131	429	65	wealth	wealth	NOUN
fsr-3131	429	66	statistics	statistic	NOUN
fsr-3131	429	67	standarddeviation	standarddeviation	PROPN
fsr-3131	429	68	$	$	SYM
fsr-3131	429	69	2,556	2,556	NUM
fsr-3131	429	70	$	$	SYM
fsr-3131	429	71	1,902	1,902	NUM
fsr-3131	429	72	$	$	SYM
fsr-3131	429	73	1,373	1,373	NUM
fsr-3131	429	74	$	$	SYM
fsr-3131	429	75	1,626	1,626	NUM
fsr-3131	429	76	$	$	SYM
fsr-3131	429	77	1,205	1,205	NUM
fsr-3131	429	78	$	$	SYM
fsr-3131	429	79	860	860	NUM
fsr-3131	429	80	mean	mean	VERB
fsr-3131	429	81	$	$	SYM
fsr-3131	429	82	4,579	4,579	NUM
fsr-3131	429	83	$	$	SYM
fsr-3131	429	84	4,053	4,053	NUM
fsr-3131	429	85	$	$	SYM
fsr-3131	429	86	3,582	3,582	NUM
fsr-3131	429	87	$	$	SYM
fsr-3131	429	88	3,494	3,494	NUM
fsr-3131	429	89	$	$	SYM
fsr-3131	429	90	3,121	3,121	NUM
fsr-3131	429	91	$	$	SYM
fsr-3131	429	92	2,785	2,785	NUM
fsr-3131	429	93	cv	cv	PROPN
fsr-3131	429	94	-	-	PUNCT
fsr-3131	429	95	tw	tw	PROPN
fsr-3131	429	96	0.558	0.558	NUM
fsr-3131	429	97	0.469	0.469	NUM
fsr-3131	429	98	0.383	0.383	NUM
fsr-3131	429	99	0.465	0.465	NUM
fsr-3131	429	100	0.386	0.386	NUM
fsr-3131	429	101	0.309	0.309	NUM
fsr-3131	429	102	sharpe	sharpe	PROPN
fsr-3131	429	103	ratio	ratio	PROPN
fsr-3131	429	104	statistics	statistic	NOUN
fsr-3131	429	105	standard	standard	ADJ
fsr-3131	429	106	deviation	deviation	NOUN
fsr-3131	429	107	0.093	0.093	NUM
fsr-3131	429	108	0.093	0.093	NUM
fsr-3131	429	109	0.093	0.093	NUM
fsr-3131	429	110	0.094	0.094	NUM
fsr-3131	429	111	0.094	0.094	NUM
fsr-3131	429	112	0.094	0.094	NUM
fsr-3131	429	113	mean	mean	VERB
fsr-3131	429	114	0.192	0.192	NUM
fsr-3131	429	115	0.200	0.200	NUM
fsr-3131	429	116	0.211	0.211	NUM
fsr-3131	429	117	0.174	0.174	NUM
fsr-3131	429	118	0.179	0.179	NUM
fsr-3131	429	119	0.186	0.186	NUM
fsr-3131	429	120	cv	cv	PROPN
fsr-3131	429	121	-	-	PUNCT
fsr-3131	429	122	s	s	PRON
fsr-3131	429	123	0.486	0.486	NUM
fsr-3131	429	124	0.466	0.466	NUM
fsr-3131	429	125	0.441	0.441	NUM
fsr-3131	429	126	0.541	0.541	NUM
fsr-3131	429	127	0.524	0.524	NUM
fsr-3131	429	128	0.502	0.502	NUM
fsr-3131	429	129	alternative	alternative	ADJ
fsr-3131	429	130	allocation	allocation	NOUN
fsr-3131	429	131	with	with	ADP
fsr-3131	429	132	risk	risk	NOUN
fsr-3131	429	133	-	-	PUNCT
fsr-3131	429	134	free	free	ADJ
fsr-3131	429	135	asset	asset	NOUN
fsr-3131	429	136	alternative	alternative	ADJ
fsr-3131	429	137	allocation	allocation	NOUN
fsr-3131	429	138	with	with	ADP
fsr-3131	429	139	leveraged	leveraged	ADJ
fsr-3131	429	140	(	(	PUNCT
fsr-3131	429	141	2	2	NUM
fsr-3131	429	142	�	�	NOUN
fsr-3131	429	143	)	)	PUNCT
fsr-3131	429	144	fund	fund	NOUN
fsr-3131	429	145	25	25	NUM
fsr-3131	429	146	-	-	PUNCT
fsr-3131	429	147	year	year	NOUN
fsr-3131	429	148	old	old	ADJ
fsr-3131	429	149	40	40	NUM
fsr-3131	429	150	-	-	PUNCT
fsr-3131	429	151	year	year	NOUN
fsr-3131	429	152	old	old	ADJ
fsr-3131	429	153	55	55	NUM
fsr-3131	429	154	-	-	PUNCT
fsr-3131	429	155	year	year	NOUN
fsr-3131	429	156	old	old	ADJ
fsr-3131	429	157	25	25	NUM
fsr-3131	429	158	-	-	PUNCT
fsr-3131	429	159	year	year	NOUN
fsr-3131	429	160	old	old	ADJ
fsr-3131	429	161	40	40	NUM
fsr-3131	429	162	-	-	PUNCT
fsr-3131	429	163	year	year	NOUN
fsr-3131	429	164	old	old	ADJ
fsr-3131	429	165	55	55	NUM
fsr-3131	429	166	-	-	PUNCT
fsr-3131	429	167	year	year	NOUN
fsr-3131	429	168	old	old	ADJ
fsr-3131	429	169	terminal	terminal	ADJ
fsr-3131	429	170	wealth	wealth	NOUN
fsr-3131	429	171	statistics	statistic	NOUN
fsr-3131	429	172	standard	standard	ADJ
fsr-3131	429	173	deviation	deviation	NOUN
fsr-3131	429	174	$	$	SYM
fsr-3131	429	175	2,076	2,076	NUM
fsr-3131	429	176	$	$	SYM
fsr-3131	429	177	1,565	1,565	NUM
fsr-3131	429	178	$	$	SYM
fsr-3131	429	179	1,145	1,145	NUM
fsr-3131	429	180	$	$	SYM
fsr-3131	429	181	3,495	3,495	NUM
fsr-3131	429	182	$	$	SYM
fsr-3131	429	183	2,741	2,741	NUM
fsr-3131	429	184	$	$	SYM
fsr-3131	429	185	2,114	2,114	NUM
fsr-3131	429	186	mean	mean	NOUN
fsr-3131	429	187	$	$	SYM
fsr-3131	429	188	4,125	4,125	NUM
fsr-3131	429	189	$	$	SYM
fsr-3131	429	190	3,692	3,692	NUM
fsr-3131	429	191	$	$	SYM
fsr-3131	429	192	3,300	3,300	NUM
fsr-3131	429	193	$	$	SYM
fsr-3131	429	194	5,424	5,424	NUM
fsr-3131	429	195	$	$	SYM
fsr-3131	429	196	4,870	4,870	NUM
fsr-3131	429	197	$	$	SYM
fsr-3131	429	198	4,367	4,367	NUM
fsr-3131	429	199	cv	cv	PROPN
fsr-3131	429	200	-	-	PUNCT
fsr-3131	429	201	tw	tw	PROPN
fsr-3131	429	202	0.503	0.503	NUM
fsr-3131	429	203	0.424	0.424	NUM
fsr-3131	429	204	0.347	0.347	NUM
fsr-3131	429	205	0.644	0.644	NUM
fsr-3131	429	206	0.563	0.563	NUM
fsr-3131	429	207	0.484	0.484	NUM
fsr-3131	429	208	sharpe	sharpe	PROPN
fsr-3131	429	209	ratio	ratio	PROPN
fsr-3131	429	210	statistics	statistic	NOUN
fsr-3131	429	211	standard	standard	ADJ
fsr-3131	429	212	deviation	deviation	NOUN
fsr-3131	429	213	0.094	0.094	NUM
fsr-3131	429	214	0.094	0.094	NUM
fsr-3131	429	215	0.093	0.093	NUM
fsr-3131	429	216	0.094	0.094	NUM
fsr-3131	429	217	0.094	0.094	NUM
fsr-3131	429	218	0.093	0.093	NUM
fsr-3131	429	219	mean	mean	NOUN
fsr-3131	430	1	0.192	0.192	NUM
fsr-3131	430	2	0.200	0.200	NUM
fsr-3131	430	3	0.211	0.211	NUM
fsr-3131	430	4	0.198	0.198	NUM
fsr-3131	430	5	0.204	0.204	NUM
fsr-3131	430	6	0.213	0.213	NUM
fsr-3131	430	7	cv	cv	PROPN
fsr-3131	430	8	-	-	PUNCT
fsr-3131	430	9	s	s	NOUN
fsr-3131	430	10	0.489	0.489	NUM
fsr-3131	430	11	0.469	0.469	NUM
fsr-3131	430	12	0.444	0.444	NUM
fsr-3131	430	13	0.475	0.475	NUM
fsr-3131	430	14	0.458	0.458	NUM
fsr-3131	430	15	0.438	0.438	NUM
fsr-3131	430	16	notes	note	NOUN
fsr-3131	430	17	.	.	PUNCT
fsr-3131	431	1	this	this	DET
fsr-3131	431	2	table	table	NOUN
fsr-3131	431	3	shows	show	VERB
fsr-3131	431	4	central	central	ADJ
fsr-3131	431	5	tendency	tendency	NOUN
fsr-3131	431	6	and	and	CCONJ
fsr-3131	431	7	dispersion	dispersion	NOUN
fsr-3131	431	8	of	of	ADP
fsr-3131	431	9	terminal	terminal	ADJ
fsr-3131	431	10	wealth	wealth	NOUN
fsr-3131	431	11	and	and	CCONJ
fsr-3131	431	12	sharpe	sharpe	NOUN
fsr-3131	431	13	ratios	ratio	NOUN
fsr-3131	431	14	for	for	ADP
fsr-3131	431	15	each	each	PRON
fsr-3131	431	16	of	of	ADP
fsr-3131	431	17	the	the	DET
fsr-3131	431	18	three	three	NUM
fsr-3131	431	19	investors	investor	NOUN
fsr-3131	431	20	identified	identify	VERB
fsr-3131	431	21	.	.	PUNCT
fsr-3131	432	1	results	result	NOUN
fsr-3131	432	2	were	be	AUX
fsr-3131	432	3	obtained	obtain	VERB
fsr-3131	432	4	from	from	ADP
fsr-3131	432	5	100,000	100,000	NUM
fsr-3131	432	6	trials	trial	NOUN
fsr-3131	432	7	,	,	PUNCT
fsr-3131	432	8	annual	annual	ADJ
fsr-3131	432	9	rebalancing	rebalancing	NOUN
fsr-3131	432	10	,	,	PUNCT
fsr-3131	432	11	and	and	CCONJ
fsr-3131	432	12	an	an	DET
fsr-3131	432	13	annual	annual	ADJ
fsr-3131	432	14	fee	fee	NOUN
fsr-3131	432	15	as	as	SCONJ
fsr-3131	432	16	shown	show	VERB
fsr-3131	432	17	in	in	ADP
fsr-3131	432	18	the	the	DET
fsr-3131	432	19	last	last	ADJ
fsr-3131	432	20	column	column	NOUN
fsr-3131	432	21	of	of	ADP
fsr-3131	432	22	tables	table	NOUN
fsr-3131	432	23	8	8	NUM
fsr-3131	432	24	and	and	CCONJ
fsr-3131	432	25	9	9	NUM
fsr-3131	432	26	for	for	ADP
fsr-3131	432	27	the	the	DET
fsr-3131	432	28	simulated	simulated	ADJ
fsr-3131	432	29	inverse	inverse	NOUN
fsr-3131	432	30	or	or	CCONJ
fsr-3131	432	31	leveraged	leverage	VERB
fsr-3131	432	32	stock	stock	NOUN
fsr-3131	432	33	fund	fund	NOUN
fsr-3131	432	34	.	.	PUNCT
fsr-3131	433	1	144	144	NUM
fsr-3131	433	2	j.a	j.a	PROPN
fsr-3131	433	3	.	.	PROPN
fsr-3131	433	4	dilellio	dilellio	PROPN
fsr-3131	433	5	,	,	PUNCT
fsr-3131	433	6	r.	r.	PROPN
fsr-3131	433	7	hesse	hesse	PROPN
fsr-3131	433	8	,	,	PUNCT
fsr-3131	433	9	d.j	d.j	PROPN
fsr-3131	433	10	.	.	PROPN
fsr-3131	433	11	stanley	stanley	PROPN
fsr-3131	433	12	/	/	SYM
fsr-3131	433	13	financial	financial	ADJ
fsr-3131	433	14	services	service	NOUN
fsr-3131	433	15	review	review	VERB
fsr-3131	433	16	23	23	NUM
fsr-3131	433	17	(	(	PUNCT
fsr-3131	433	18	2014	2014	NUM
fsr-3131	433	19	)	)	PUNCT
fsr-3131	433	20	123–149	123–149	NUM
fsr-3131	433	21	could	could	AUX
fsr-3131	433	22	be	be	AUX
fsr-3131	433	23	considered	consider	VERB
fsr-3131	433	24	.	.	PUNCT
fsr-3131	434	1	for	for	ADP
fsr-3131	434	2	example	example	NOUN
fsr-3131	434	3	,	,	PUNCT
fsr-3131	434	4	evaluating	evaluate	VERB
fsr-3131	434	5	the	the	DET
fsr-3131	434	6	effects	effect	NOUN
fsr-3131	434	7	of	of	ADP
fsr-3131	434	8	“	"	PUNCT
fsr-3131	434	9	3	3	NUM
fsr-3131	434	10	�	�	NOUN
fsr-3131	434	11	”	"	PUNCT
fsr-3131	434	12	leveraged	leveraged	ADJ
fsr-3131	434	13	and	and	CCONJ
fsr-3131	434	14	“	"	PUNCT
fsr-3131	434	15	�	�	PROPN
fsr-3131	434	16	2	2	NUM
fsr-3131	434	17	�	�	PROPN
fsr-3131	434	18	/	/	SYM
fsr-3131	434	19	�	�	PROPN
fsr-3131	434	20	3	3	NUM
fsr-3131	434	21	�	�	NOUN
fsr-3131	434	22	”	"	PUNCT
fsr-3131	434	23	inverse	inverse	NOUN
fsr-3131	434	24	etfs	etfs	NOUN
fsr-3131	434	25	is	be	AUX
fsr-3131	434	26	suggested	suggest	VERB
fsr-3131	434	27	to	to	PART
fsr-3131	434	28	see	see	VERB
fsr-3131	434	29	if	if	SCONJ
fsr-3131	434	30	the	the	DET
fsr-3131	434	31	observations	observation	NOUN
fsr-3131	434	32	found	find	VERB
fsr-3131	434	33	using	use	VERB
fsr-3131	434	34	“	"	PUNCT
fsr-3131	434	35	�	�	PROPN
fsr-3131	434	36	1	1	NUM
fsr-3131	434	37	�	�	NOUN
fsr-3131	434	38	”	"	PUNCT
fsr-3131	434	39	inverse	inverse	NOUN
fsr-3131	434	40	and	and	CCONJ
fsr-3131	434	41	“	"	PUNCT
fsr-3131	434	42	2	2	NUM
fsr-3131	434	43	�	�	NOUN
fsr-3131	434	44	”	"	PUNCT
fsr-3131	434	45	leveraged	leveraged	ADJ
fsr-3131	434	46	etfs	etfs	NOUN
fsr-3131	434	47	considered	consider	VERB
fsr-3131	434	48	here	here	ADV
fsr-3131	434	49	persist	persist	VERB
fsr-3131	434	50	.	.	PUNCT
fsr-3131	435	1	like	like	ADP
fsr-3131	435	2	giese	giese	NOUN
fsr-3131	435	3	(	(	PUNCT
fsr-3131	435	4	2010	2010	NUM
fsr-3131	435	5	)	)	PUNCT
fsr-3131	435	6	,	,	PUNCT
fsr-3131	435	7	we	we	PRON
fsr-3131	435	8	also	also	ADV
fsr-3131	435	9	observe	observe	VERB
fsr-3131	435	10	that	that	SCONJ
fsr-3131	435	11	the	the	DET
fsr-3131	435	12	optimal	optimal	ADJ
fsr-3131	435	13	leverage	leverage	NOUN
fsr-3131	435	14	strongly	strongly	ADV
fsr-3131	435	15	depends	depend	VERB
fsr-3131	435	16	on	on	ADP
fsr-3131	435	17	the	the	DET
fsr-3131	435	18	prevailing	prevail	VERB
fsr-3131	435	19	market	market	NOUN
fsr-3131	435	20	conditions	condition	NOUN
fsr-3131	435	21	,	,	PUNCT
fsr-3131	435	22	which	which	PRON
fsr-3131	435	23	were	be	AUX
fsr-3131	435	24	not	not	PART
fsr-3131	435	25	exhaustively	exhaustively	ADV
fsr-3131	435	26	considered	consider	VERB
fsr-3131	435	27	here	here	ADV
fsr-3131	435	28	.	.	PUNCT
fsr-3131	436	1	further	far	ADV
fsr-3131	436	2	,	,	PUNCT
fsr-3131	436	3	alternative	alternative	ADJ
fsr-3131	436	4	simulation	simulation	NOUN
fsr-3131	436	5	approaches	approach	NOUN
fsr-3131	436	6	could	could	AUX
fsr-3131	436	7	be	be	AUX
fsr-3131	436	8	used	use	VERB
fsr-3131	436	9	,	,	PUNCT
fsr-3131	436	10	such	such	ADJ
fsr-3131	436	11	as	as	ADP
fsr-3131	436	12	simulating	simulate	VERB
fsr-3131	436	13	the	the	DET
fsr-3131	436	14	price	price	NOUN
fsr-3131	436	15	path	path	NOUN
fsr-3131	436	16	of	of	ADP
fsr-3131	436	17	stocks	stock	NOUN
fsr-3131	436	18	and	and	CCONJ
fsr-3131	436	19	bonds	bond	NOUN
fsr-3131	436	20	with	with	ADP
fsr-3131	436	21	variations	variation	NOUN
fsr-3131	436	22	in	in	ADP
fsr-3131	436	23	their	their	PRON
fsr-3131	436	24	stochastic	stochastic	ADJ
fsr-3131	436	25	parameters	parameter	NOUN
fsr-3131	436	26	.	.	PUNCT
fsr-3131	437	1	lastly	lastly	ADV
fsr-3131	437	2	,	,	PUNCT
fsr-3131	437	3	other	other	ADJ
fsr-3131	437	4	measures	measure	NOUN
fsr-3131	437	5	of	of	ADP
fsr-3131	437	6	diversification	diversification	NOUN
fsr-3131	437	7	could	could	AUX
fsr-3131	437	8	be	be	AUX
fsr-3131	437	9	examined	examine	VERB
fsr-3131	437	10	,	,	PUNCT
fsr-3131	437	11	such	such	ADJ
fsr-3131	437	12	as	as	ADP
fsr-3131	437	13	the	the	DET
fsr-3131	437	14	diversification	diversification	NOUN
fsr-3131	437	15	effect	effect	NOUN
fsr-3131	437	16	as	as	SCONJ
fsr-3131	437	17	studied	study	VERB
fsr-3131	437	18	by	by	ADP
fsr-3131	437	19	hight	hight	NOUN
fsr-3131	437	20	(	(	PUNCT
fsr-3131	437	21	2010	2010	NUM
fsr-3131	437	22	)	)	PUNCT
fsr-3131	437	23	.	.	PUNCT
fsr-3131	438	1	acknowledgments	acknowledgment	NOUN
fsr-3131	438	2	the	the	DET
fsr-3131	438	3	authors	author	NOUN
fsr-3131	438	4	wish	wish	VERB
fsr-3131	438	5	to	to	PART
fsr-3131	438	6	thank	thank	VERB
fsr-3131	438	7	the	the	DET
fsr-3131	438	8	participants	participant	NOUN
fsr-3131	438	9	at	at	ADP
fsr-3131	438	10	the	the	DET
fsr-3131	438	11	academy	academy	NOUN
fsr-3131	438	12	of	of	ADP
fsr-3131	438	13	financial	financial	ADJ
fsr-3131	438	14	services	service	NOUN
fsr-3131	438	15	2011	2011	NUM
fsr-3131	438	16	annual	annual	ADJ
fsr-3131	438	17	meeting	meeting	NOUN
fsr-3131	438	18	in	in	ADP
fsr-3131	438	19	las	las	PROPN
fsr-3131	438	20	vegas	vegas	PROPN
fsr-3131	438	21	,	,	PUNCT
fsr-3131	438	22	nevada	nevada	PROPN
fsr-3131	438	23	,	,	PUNCT
fsr-3131	438	24	who	who	PRON
fsr-3131	438	25	provided	provide	VERB
fsr-3131	438	26	useful	useful	ADJ
fsr-3131	438	27	feedback	feedback	NOUN
fsr-3131	438	28	on	on	ADP
fsr-3131	438	29	an	an	DET
fsr-3131	438	30	earlier	early	ADJ
fsr-3131	438	31	version	version	NOUN
fsr-3131	438	32	of	of	ADP
fsr-3131	438	33	this	this	DET
fsr-3131	438	34	work	work	NOUN
fsr-3131	438	35	.	.	PUNCT
fsr-3131	439	1	specifically	specifically	ADV
fsr-3131	439	2	,	,	PUNCT
fsr-3131	439	3	we	we	PRON
fsr-3131	439	4	wish	wish	VERB
fsr-3131	439	5	to	to	PART
fsr-3131	439	6	acknowledge	acknowledge	VERB
fsr-3131	439	7	brian	brian	PROPN
fsr-3131	439	8	boscaljon	boscaljon	NOUN
fsr-3131	439	9	for	for	ADP
fsr-3131	439	10	his	his	PRON
fsr-3131	439	11	insightful	insightful	ADJ
fsr-3131	439	12	suggestion	suggestion	NOUN
fsr-3131	439	13	to	to	PART
fsr-3131	439	14	include	include	VERB
fsr-3131	439	15	risk	risk	NOUN
fsr-3131	439	16	-	-	PUNCT
fsr-3131	439	17	free	free	ADJ
fsr-3131	439	18	assets	asset	NOUN
fsr-3131	439	19	as	as	ADP
fsr-3131	439	20	an	an	DET
fsr-3131	439	21	alternative	alternative	ADJ
fsr-3131	439	22	asset	asset	NOUN
fsr-3131	439	23	for	for	ADP
fsr-3131	439	24	comparison	comparison	NOUN
fsr-3131	439	25	.	.	PUNCT
fsr-3131	440	1	lastly	lastly	ADV
fsr-3131	440	2	,	,	PUNCT
fsr-3131	440	3	although	although	SCONJ
fsr-3131	440	4	every	every	DET
fsr-3131	440	5	attempt	attempt	NOUN
fsr-3131	440	6	was	be	AUX
fsr-3131	440	7	made	make	VERB
fsr-3131	440	8	to	to	PART
fsr-3131	440	9	eliminate	eliminate	VERB
fsr-3131	440	10	any	any	DET
fsr-3131	440	11	errors	error	NOUN
fsr-3131	440	12	from	from	ADP
fsr-3131	440	13	this	this	DET
fsr-3131	440	14	article	article	NOUN
fsr-3131	440	15	,	,	PUNCT
fsr-3131	440	16	any	any	DET
fsr-3131	440	17	remaining	remain	VERB
fsr-3131	440	18	issues	issue	NOUN
fsr-3131	440	19	are	be	AUX
fsr-3131	440	20	solely	solely	ADV
fsr-3131	440	21	the	the	DET
fsr-3131	440	22	responsibility	responsibility	NOUN
fsr-3131	440	23	of	of	ADP
fsr-3131	440	24	the	the	DET
fsr-3131	440	25	authors	author	NOUN
fsr-3131	440	26	.	.	PUNCT
fsr-3131	441	1	table	table	NOUN
fsr-3131	441	2	15	15	NUM
fsr-3131	441	3	statistics	statistic	NOUN
fsr-3131	441	4	using	use	VERB
fsr-3131	441	5	2001–2010	2001–2010	NUM
fsr-3131	441	6	return	return	NOUN
fsr-3131	441	7	distributions	distribution	NOUN
fsr-3131	441	8	for	for	ADP
fsr-3131	441	9	simulation	simulation	NOUN
fsr-3131	441	10	sampling	sampling	NOUN
fsr-3131	441	11	,	,	PUNCT
fsr-3131	441	12	nasdaq	nasdaq	PROPN
fsr-3131	441	13	index	index	NOUN
fsr-3131	441	14	fund	fund	NOUN
fsr-3131	441	15	(	(	PUNCT
fsr-3131	441	16	usnqx	usnqx	NOUN
fsr-3131	441	17	)	)	PUNCT
fsr-3131	441	18	traditional	traditional	ADJ
fsr-3131	441	19	allocation	allocation	NOUN
fsr-3131	441	20	alternative	alternative	NOUN
fsr-3131	441	21	allocation	allocation	NOUN
fsr-3131	441	22	with	with	ADP
fsr-3131	441	23	inverse	inverse	NOUN
fsr-3131	441	24	(	(	PUNCT
fsr-3131	441	25	�	�	PROPN
fsr-3131	441	26	1	1	NUM
fsr-3131	441	27	�	�	PROPN
fsr-3131	441	28	)	)	PUNCT
fsr-3131	441	29	fund	fund	NOUN
fsr-3131	441	30	25	25	NUM
fsr-3131	441	31	-	-	PUNCT
fsr-3131	441	32	year	year	NOUN
fsr-3131	441	33	old	old	ADJ
fsr-3131	441	34	40	40	NUM
fsr-3131	441	35	-	-	PUNCT
fsr-3131	441	36	year	year	NOUN
fsr-3131	441	37	old	old	ADJ
fsr-3131	441	38	55	55	NUM
fsr-3131	441	39	-	-	PUNCT
fsr-3131	441	40	year	year	NOUN
fsr-3131	441	41	old	old	ADJ
fsr-3131	441	42	25	25	NUM
fsr-3131	441	43	-	-	PUNCT
fsr-3131	441	44	year	year	NOUN
fsr-3131	441	45	old	old	ADJ
fsr-3131	441	46	40	40	NUM
fsr-3131	441	47	-	-	PUNCT
fsr-3131	441	48	year	year	NOUN
fsr-3131	441	49	old	old	ADJ
fsr-3131	441	50	55	55	NUM
fsr-3131	441	51	-	-	PUNCT
fsr-3131	441	52	year	year	NOUN
fsr-3131	441	53	old	old	ADJ
fsr-3131	441	54	terminal	terminal	ADJ
fsr-3131	441	55	wealth	wealth	NOUN
fsr-3131	441	56	statistics	statistic	NOUN
fsr-3131	441	57	standard	standard	ADJ
fsr-3131	441	58	deviation	deviation	NOUN
fsr-3131	441	59	$	$	SYM
fsr-3131	441	60	1,280	1,280	NUM
fsr-3131	441	61	$	$	SYM
fsr-3131	441	62	1,063	1,063	NUM
fsr-3131	441	63	$	$	SYM
fsr-3131	441	64	859	859	NUM
fsr-3131	441	65	$	$	SYM
fsr-3131	441	66	923	923	NUM
fsr-3131	441	67	$	$	SYM
fsr-3131	441	68	758	758	NUM
fsr-3131	441	69	$	$	SYM
fsr-3131	441	70	598	598	NUM
fsr-3131	441	71	mean	mean	NOUN
fsr-3131	441	72	$	$	SYM
fsr-3131	441	73	1,366	1,366	NUM
fsr-3131	441	74	$	$	SYM
fsr-3131	441	75	1,415	1,415	NUM
fsr-3131	441	76	$	$	SYM
fsr-3131	441	77	1,465	1,465	NUM
fsr-3131	441	78	$	$	SYM
fsr-3131	441	79	1,269	1,269	NUM
fsr-3131	441	80	$	$	SYM
fsr-3131	441	81	1,310	1,310	NUM
fsr-3131	441	82	$	$	SYM
fsr-3131	441	83	1,351	1,351	NUM
fsr-3131	441	84	cv	cv	PROPN
fsr-3131	441	85	-	-	PUNCT
fsr-3131	441	86	tw	tw	PROPN
fsr-3131	441	87	0.937	0.937	NUM
fsr-3131	441	88	0.752	0.752	NUM
fsr-3131	441	89	0.587	0.587	NUM
fsr-3131	441	90	0.728	0.728	NUM
fsr-3131	441	91	0.579	0.579	NUM
fsr-3131	441	92	0.443	0.443	NUM
fsr-3131	441	93	sharpe	sharpe	PROPN
fsr-3131	441	94	ratio	ratio	PROPN
fsr-3131	441	95	statistics	statistic	NOUN
fsr-3131	441	96	standard	standard	ADJ
fsr-3131	441	97	deviation	deviation	NOUN
fsr-3131	441	98	0.092	0.092	NUM
fsr-3131	441	99	0.092	0.092	NUM
fsr-3131	441	100	0.092	0.092	NUM
fsr-3131	441	101	0.093	0.093	NUM
fsr-3131	441	102	0.093	0.093	NUM
fsr-3131	441	103	0.092	0.092	NUM
fsr-3131	441	104	mean	mean	NOUN
fsr-3131	441	105	0.014	0.014	NUM
fsr-3131	441	106	0.021	0.021	NUM
fsr-3131	441	107	0.031	0.031	NUM
fsr-3131	441	108	0.004	0.004	NUM
fsr-3131	441	109	0.010	0.010	NUM
fsr-3131	441	110	0.019	0.019	NUM
fsr-3131	441	111	cv	cv	PROPN
fsr-3131	441	112	-	-	PUNCT
fsr-3131	441	113	s	s	PROPN
fsr-3131	441	114	6.572	6.572	NUM
fsr-3131	441	115	4.451	4.451	NUM
fsr-3131	441	116	3.004	3.004	NUM
fsr-3131	441	117	22.837	22.837	NUM
fsr-3131	441	118	9.266	9.266	NUM
fsr-3131	441	119	4.783	4.783	NUM
fsr-3131	441	120	alternative	alternative	ADJ
fsr-3131	441	121	allocation	allocation	NOUN
fsr-3131	441	122	with	with	ADP
fsr-3131	441	123	risk	risk	NOUN
fsr-3131	441	124	-	-	PUNCT
fsr-3131	441	125	free	free	ADJ
fsr-3131	441	126	asset	asset	NOUN
fsr-3131	441	127	alternative	alternative	ADJ
fsr-3131	441	128	allocation	allocation	NOUN
fsr-3131	441	129	with	with	ADP
fsr-3131	441	130	leveraged	leveraged	ADJ
fsr-3131	441	131	(	(	PUNCT
fsr-3131	441	132	2	2	NUM
fsr-3131	441	133	�	�	NOUN
fsr-3131	441	134	)	)	PUNCT
fsr-3131	441	135	fund	fund	NOUN
fsr-3131	441	136	25	25	NUM
fsr-3131	441	137	-	-	PUNCT
fsr-3131	441	138	year	year	NOUN
fsr-3131	441	139	old	old	ADJ
fsr-3131	441	140	40	40	NUM
fsr-3131	441	141	-	-	PUNCT
fsr-3131	441	142	year	year	NOUN
fsr-3131	441	143	old	old	ADJ
fsr-3131	441	144	55	55	NUM
fsr-3131	441	145	-	-	PUNCT
fsr-3131	441	146	year	year	NOUN
fsr-3131	441	147	old	old	ADJ
fsr-3131	441	148	25	25	NUM
fsr-3131	441	149	-	-	PUNCT
fsr-3131	441	150	year	year	NOUN
fsr-3131	441	151	old	old	ADJ
fsr-3131	441	152	40	40	NUM
fsr-3131	441	153	-	-	PUNCT
fsr-3131	441	154	year	year	NOUN
fsr-3131	441	155	old	old	ADJ
fsr-3131	441	156	55	55	NUM
fsr-3131	441	157	-	-	PUNCT
fsr-3131	441	158	year	year	NOUN
fsr-3131	441	159	old	old	ADJ
fsr-3131	441	160	terminal	terminal	ADJ
fsr-3131	441	161	wealth	wealth	NOUN
fsr-3131	441	162	statistics	statistic	NOUN
fsr-3131	441	163	standard	standard	ADJ
fsr-3131	441	164	deviation	deviation	NOUN
fsr-3131	441	165	$	$	SYM
fsr-3131	441	166	1,135	1,135	NUM
fsr-3131	441	167	$	$	SYM
fsr-3131	441	168	945	945	NUM
fsr-3131	441	169	$	$	SYM
fsr-3131	441	170	764	764	NUM
fsr-3131	441	171	$	$	SYM
fsr-3131	441	172	1,536	1,536	NUM
fsr-3131	441	173	$	$	SYM
fsr-3131	441	174	1,310	1,310	NUM
fsr-3131	441	175	$	$	SYM
fsr-3131	441	176	1,101	1,101	NUM
fsr-3131	441	177	mean	mean	NOUN
fsr-3131	441	178	$	$	SYM
fsr-3131	441	179	1,363	1,363	NUM
fsr-3131	441	180	$	$	SYM
fsr-3131	441	181	1,404	1,404	NUM
fsr-3131	441	182	$	$	SYM
fsr-3131	441	183	1,446	1,446	NUM
fsr-3131	441	184	$	$	SYM
fsr-3131	441	185	1,387	1,387	NUM
fsr-3131	441	186	$	$	SYM
fsr-3131	441	187	1,429	1,429	NUM
fsr-3131	441	188	$	$	SYM
fsr-3131	441	189	1,473	1,473	NUM
fsr-3131	441	190	cv	cv	PROPN
fsr-3131	441	191	-	-	PUNCT
fsr-3131	441	192	tw	tw	PROPN
fsr-3131	441	193	0.833	0.833	NUM
fsr-3131	441	194	0.673	0.673	NUM
fsr-3131	441	195	0.528	0.528	NUM
fsr-3131	441	196	1.107	1.107	NUM
fsr-3131	441	197	0.916	0.916	NUM
fsr-3131	441	198	0.748	0.748	NUM
fsr-3131	441	199	sharpe	sharpe	PROPN
fsr-3131	441	200	ratio	ratio	PROPN
fsr-3131	441	201	statistics	statistic	NOUN
fsr-3131	441	202	standard	standard	ADJ
fsr-3131	441	203	deviation	deviation	NOUN
fsr-3131	441	204	0.093	0.093	NUM
fsr-3131	441	205	0.093	0.093	NUM
fsr-3131	441	206	0.092	0.092	NUM
fsr-3131	441	207	0.092	0.092	NUM
fsr-3131	441	208	0.092	0.092	NUM
fsr-3131	441	209	0.092	0.092	NUM
fsr-3131	441	210	mean	mean	NOUN
fsr-3131	441	211	0.014	0.014	NUM
fsr-3131	441	212	0.021	0.021	NUM
fsr-3131	441	213	0.031	0.031	NUM
fsr-3131	441	214	0.014	0.014	NUM
fsr-3131	441	215	0.019	0.019	NUM
fsr-3131	441	216	0.026	0.026	NUM
fsr-3131	441	217	cv	cv	PROPN
fsr-3131	441	218	-	-	PUNCT
fsr-3131	441	219	s	s	PART
fsr-3131	441	220	6.558	6.558	NUM
fsr-3131	441	221	4.442	4.442	NUM
fsr-3131	441	222	3.000	3.000	NUM
fsr-3131	441	223	6.827	6.827	NUM
fsr-3131	441	224	4.960	4.960	NUM
fsr-3131	441	225	3.604	3.604	NUM
fsr-3131	441	226	notes	note	NOUN
fsr-3131	441	227	.	.	PUNCT
fsr-3131	442	1	this	this	DET
fsr-3131	442	2	table	table	NOUN
fsr-3131	442	3	shows	show	VERB
fsr-3131	442	4	central	central	ADJ
fsr-3131	442	5	tendency	tendency	NOUN
fsr-3131	442	6	and	and	CCONJ
fsr-3131	442	7	dispersion	dispersion	NOUN
fsr-3131	442	8	of	of	ADP
fsr-3131	442	9	terminal	terminal	ADJ
fsr-3131	442	10	wealth	wealth	NOUN
fsr-3131	442	11	and	and	CCONJ
fsr-3131	442	12	sharpe	sharpe	NOUN
fsr-3131	442	13	ratios	ratio	NOUN
fsr-3131	442	14	for	for	ADP
fsr-3131	442	15	each	each	PRON
fsr-3131	442	16	of	of	ADP
fsr-3131	442	17	the	the	DET
fsr-3131	442	18	three	three	NUM
fsr-3131	442	19	investors	investor	NOUN
fsr-3131	442	20	identified	identify	VERB
fsr-3131	442	21	.	.	PUNCT
fsr-3131	443	1	results	result	NOUN
fsr-3131	443	2	were	be	AUX
fsr-3131	443	3	obtained	obtain	VERB
fsr-3131	443	4	from	from	ADP
fsr-3131	443	5	100,000	100,000	NUM
fsr-3131	443	6	trials	trial	NOUN
fsr-3131	443	7	,	,	PUNCT
fsr-3131	443	8	annual	annual	ADJ
fsr-3131	443	9	rebalancing	rebalancing	NOUN
fsr-3131	443	10	,	,	PUNCT
fsr-3131	443	11	and	and	CCONJ
fsr-3131	443	12	an	an	DET
fsr-3131	443	13	annual	annual	ADJ
fsr-3131	443	14	fee	fee	NOUN
fsr-3131	443	15	as	as	SCONJ
fsr-3131	443	16	shown	show	VERB
fsr-3131	443	17	in	in	ADP
fsr-3131	443	18	the	the	DET
fsr-3131	443	19	last	last	ADJ
fsr-3131	443	20	column	column	NOUN
fsr-3131	443	21	of	of	ADP
fsr-3131	443	22	tables	table	NOUN
fsr-3131	443	23	8	8	NUM
fsr-3131	443	24	and	and	CCONJ
fsr-3131	443	25	9	9	NUM
fsr-3131	443	26	for	for	ADP
fsr-3131	443	27	the	the	DET
fsr-3131	443	28	simulated	simulated	ADJ
fsr-3131	443	29	inverse	inverse	NOUN
fsr-3131	443	30	or	or	CCONJ
fsr-3131	443	31	leveraged	leverage	VERB
fsr-3131	443	32	stock	stock	NOUN
fsr-3131	443	33	fund	fund	NOUN
fsr-3131	443	34	.	.	PUNCT
fsr-3131	444	1	145j.a	145j.a	X
fsr-3131	444	2	.	.	PUNCT
fsr-3131	445	1	dilellio	dilellio	PROPN
fsr-3131	445	2	,	,	PUNCT
fsr-3131	445	3	r.	r.	PROPN
fsr-3131	445	4	hesse	hesse	PROPN
fsr-3131	445	5	,	,	PUNCT
fsr-3131	445	6	d.j	d.j	PROPN
fsr-3131	445	7	.	.	PROPN
fsr-3131	445	8	stanley	stanley	PROPN
fsr-3131	445	9	/	/	SYM
fsr-3131	445	10	financial	financial	ADJ
fsr-3131	445	11	services	service	NOUN
fsr-3131	445	12	review	review	VERB
fsr-3131	445	13	23	23	NUM
fsr-3131	445	14	(	(	PUNCT
fsr-3131	445	15	2014	2014	NUM
fsr-3131	445	16	)	)	PUNCT
fsr-3131	445	17	123–149	123–149	NUM
fsr-3131	445	18	notes	note	VERB
fsr-3131	445	19	1	1	NUM
fsr-3131	445	20	fidelity	fidelity	NOUN
fsr-3131	445	21	noted	note	VERB
fsr-3131	445	22	that	that	SCONJ
fsr-3131	445	23	because	because	SCONJ
fsr-3131	445	24	of	of	ADP
fsr-3131	445	25	rebalancing	rebalancing	NOUN
fsr-3131	445	26	and	and	CCONJ
fsr-3131	445	27	other	other	ADJ
fsr-3131	445	28	risks	risk	NOUN
fsr-3131	445	29	,	,	PUNCT
fsr-3131	445	30	leverage	leverage	NOUN
fsr-3131	445	31	and	and	CCONJ
fsr-3131	445	32	inverse	inverse	NOUN
fsr-3131	445	33	leveraged	leverage	VERB
fsr-3131	445	34	etfs	etfs	NOUN
fsr-3131	445	35	are	be	AUX
fsr-3131	445	36	intended	intend	VERB
fsr-3131	445	37	as	as	ADP
fsr-3131	445	38	short	short	ADJ
fsr-3131	445	39	term	term	NOUN
fsr-3131	445	40	trading	trading	NOUN
fsr-3131	445	41	vehicles	vehicle	NOUN
fsr-3131	445	42	for	for	ADP
fsr-3131	445	43	sophisticated	sophisticated	ADJ
fsr-3131	445	44	investors	investor	NOUN
fsr-3131	445	45	actively	actively	ADV
fsr-3131	445	46	monitoring	monitor	VERB
fsr-3131	445	47	their	their	PRON
fsr-3131	445	48	portfolios	portfolio	NOUN
fsr-3131	445	49	on	on	ADP
fsr-3131	445	50	a	a	DET
fsr-3131	445	51	daily	daily	ADJ
fsr-3131	445	52	basis	basis	NOUN
fsr-3131	445	53	.	.	PUNCT
fsr-3131	446	1	source	source	NOUN
fsr-3131	446	2	:	:	PUNCT
fsr-3131	446	3	http://personal.fidelity	http://personal.fidelity	PROPN
fsr-3131	446	4	.	.	PUNCT
fsr-3131	446	5	com	com	NOUN
fsr-3131	446	6	/	/	SYM
fsr-3131	446	7	research	research	NOUN
fsr-3131	446	8	/	/	SYM
fsr-3131	446	9	etf	etf	NOUN
fsr-3131	446	10	/	/	SYM
fsr-3131	446	11	content	content	NOUN
fsr-3131	446	12	/	/	SYM
fsr-3131	446	13	leveraged_etn_etf.shtml	leveraged_etn_etf.shtml	NUM
fsr-3131	446	14	.	.	PUNCT
fsr-3131	447	1	2	2	NUM
fsr-3131	447	2	the	the	DET
fsr-3131	447	3	u.s	u.s	PROPN
fsr-3131	447	4	.	.	PROPN
fsr-3131	447	5	securities	securities	PROPN
fsr-3131	447	6	and	and	CCONJ
fsr-3131	447	7	exchange	exchange	PROPN
fsr-3131	447	8	commission	commission	PROPN
fsr-3131	447	9	(	(	PUNCT
fsr-3131	447	10	2011	2011	NUM
fsr-3131	447	11	)	)	PUNCT
fsr-3131	447	12	,	,	PUNCT
fsr-3131	447	13	while	while	SCONJ
fsr-3131	447	14	not	not	PART
fsr-3131	447	15	stating	state	VERB
fsr-3131	447	16	the	the	DET
fsr-3131	447	17	rule	rule	NOUN
fsr-3131	447	18	of	of	ADP
fsr-3131	447	19	120	120	NUM
fsr-3131	447	20	,	,	PUNCT
fsr-3131	447	21	implied	imply	VERB
fsr-3131	447	22	it	it	PRON
fsr-3131	447	23	indirectly	indirectly	ADV
fsr-3131	447	24	in	in	ADP
fsr-3131	447	25	their	their	PRON
fsr-3131	447	26	suggestion	suggestion	NOUN
fsr-3131	447	27	to	to	ADP
fsr-3131	447	28	for	for	SCONJ
fsr-3131	447	29	investors	investor	NOUN
fsr-3131	447	30	to	to	PART
fsr-3131	447	31	consider	consider	VERB
fsr-3131	447	32	target	target	NOUN
fsr-3131	447	33	date	date	NOUN
fsr-3131	447	34	funds	fund	NOUN
fsr-3131	447	35	(	(	PUNCT
fsr-3131	447	36	tdf	tdf	NOUN
fsr-3131	447	37	)	)	PUNCT
fsr-3131	447	38	in	in	ADP
fsr-3131	447	39	‘	'	PUNCT
fsr-3131	447	40	beginners	beginner	NOUN
fsr-3131	447	41	’	'	PUNCT
fsr-3131	447	42	guide	guide	NOUN
fsr-3131	447	43	to	to	ADP
fsr-3131	447	44	asset	asset	NOUN
fsr-3131	447	45	allocation	allocation	NOUN
fsr-3131	447	46	,	,	PUNCT
fsr-3131	447	47	diversification	diversification	NOUN
fsr-3131	447	48	,	,	PUNCT
fsr-3131	447	49	and	and	CCONJ
fsr-3131	447	50	rebalancing	rebalancing	NOUN
fsr-3131	447	51	.	.	PUNCT
fsr-3131	447	52	”	"	PUNCT
fsr-3131	448	1	source	source	NOUN
fsr-3131	448	2	:	:	PUNCT
fsr-3131	448	3	http://www.sec.gov/investor/pubs/assetallocation.htm	http://www.sec.gov/investor/pubs/assetallocation.htm	PROPN
fsr-3131	448	4	.	.	PUNCT
fsr-3131	449	1	3	3	NUM
fsr-3131	449	2	for	for	ADP
fsr-3131	449	3	example	example	NOUN
fsr-3131	449	4	,	,	PUNCT
fsr-3131	449	5	see	see	VERB
fsr-3131	449	6	http://www.proshares.com/funds/sh.html	http://www.proshares.com/funds/sh.html	NOUN
fsr-3131	449	7	.	.	PUNCT
fsr-3131	450	1	4	4	NUM
fsr-3131	450	2	the	the	DET
fsr-3131	450	3	correlation	correlation	NOUN
fsr-3131	450	4	between	between	ADP
fsr-3131	450	5	stocks	stock	NOUN
fsr-3131	450	6	and	and	CCONJ
fsr-3131	450	7	bonds	bond	NOUN
fsr-3131	450	8	were	be	AUX
fsr-3131	450	9	as	as	SCONJ
fsr-3131	450	10	follows	follow	VERB
fsr-3131	450	11	:	:	PUNCT
fsr-3131	450	12	(	(	PUNCT
fsr-3131	450	13	1991–2000	1991–2000	NUM
fsr-3131	450	14	,	,	PUNCT
fsr-3131	450	15	20012010	20012010	NUM
fsr-3131	450	16	)	)	PUNCT
fsr-3131	450	17	�	�	PROPN
fsr-3131	450	18	0.047	0.047	NUM
fsr-3131	450	19	and	and	CCONJ
fsr-3131	450	20	�	�	NOUN
fsr-3131	450	21	0.255	0.255	NUM
fsr-3131	450	22	.	.	PUNCT
fsr-3131	451	1	5	5	NUM
fsr-3131	452	1	the	the	DET
fsr-3131	452	2	authors	author	NOUN
fsr-3131	452	3	wish	wish	VERB
fsr-3131	452	4	to	to	PART
fsr-3131	452	5	thank	thank	VERB
fsr-3131	452	6	ken	ken	PROPN
fsr-3131	452	7	french	french	PROPN
fsr-3131	452	8	from	from	ADP
fsr-3131	452	9	making	make	VERB
fsr-3131	452	10	daily	daily	ADJ
fsr-3131	452	11	risk	risk	NOUN
fsr-3131	452	12	-	-	PUNCT
fsr-3131	452	13	free	free	ADJ
fsr-3131	452	14	rates	rate	NOUN
fsr-3131	452	15	available	available	ADJ
fsr-3131	452	16	at	at	ADP
fsr-3131	452	17	his	his	PRON
fsr-3131	452	18	web	web	NOUN
fsr-3131	452	19	site	site	NOUN
fsr-3131	452	20	.	.	PUNCT
fsr-3131	453	1	source	source	NOUN
fsr-3131	453	2	:	:	PUNCT
fsr-3131	453	3	http://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data	http://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data	X
fsr-3131	454	1	_	_	PUNCT
fsr-3131	455	1	library.html	library.html	X
fsr-3131	455	2	.	.	NOUN
fsr-3131	456	1	6	6	NUM
fsr-3131	456	2	the	the	DET
fsr-3131	456	3	small	small	ADJ
fsr-3131	456	4	variation	variation	NOUN
fsr-3131	456	5	seen	see	VERB
fsr-3131	456	6	in	in	ADP
fsr-3131	456	7	the	the	DET
fsr-3131	456	8	sharpe	sharpe	PROPN
fsr-3131	456	9	ratio	ratio	PROPN
fsr-3131	456	10	means	mean	VERB
fsr-3131	456	11	at	at	ADP
fsr-3131	456	12	the	the	DET
fsr-3131	456	13	third	third	ADJ
fsr-3131	456	14	decimal	decimal	ADJ
fsr-3131	456	15	place	place	NOUN
fsr-3131	456	16	is	be	AUX
fsr-3131	456	17	because	because	SCONJ
fsr-3131	456	18	of	of	ADP
fsr-3131	456	19	limiting	limit	VERB
fsr-3131	456	20	the	the	DET
fsr-3131	456	21	number	number	NOUN
fsr-3131	456	22	of	of	ADP
fsr-3131	456	23	trials	trial	NOUN
fsr-3131	456	24	to	to	ADP
fsr-3131	456	25	100,000	100,000	NUM
fsr-3131	456	26	.	.	PUNCT
fsr-3131	456	27	7	7	NUM
fsr-3131	457	1	an	an	DET
fsr-3131	457	2	interesting	interesting	ADJ
fsr-3131	457	3	but	but	CCONJ
fsr-3131	457	4	problematic	problematic	ADJ
fsr-3131	457	5	issue	issue	NOUN
fsr-3131	457	6	occurs	occur	VERB
fsr-3131	457	7	when	when	SCONJ
fsr-3131	457	8	simulating	simulate	VERB
fsr-3131	457	9	time	time	NOUN
fsr-3131	457	10	periods	period	NOUN
fsr-3131	457	11	that	that	PRON
fsr-3131	457	12	have	have	AUX
fsr-3131	457	13	“	"	PUNCT
fsr-3131	457	14	falling	fall	VERB
fsr-3131	457	15	”	"	PUNCT
fsr-3131	457	16	equity	equity	NOUN
fsr-3131	457	17	prices	price	NOUN
fsr-3131	457	18	,	,	PUNCT
fsr-3131	457	19	such	such	ADJ
fsr-3131	457	20	as	as	SCONJ
fsr-3131	457	21	observed	observe	VERB
fsr-3131	457	22	over	over	ADP
fsr-3131	457	23	1999	1999	NUM
fsr-3131	457	24	to	to	ADP
fsr-3131	457	25	2008	2008	NUM
fsr-3131	457	26	.	.	PUNCT
fsr-3131	458	1	this	this	DET
fsr-3131	458	2	case	case	NOUN
fsr-3131	458	3	was	be	AUX
fsr-3131	458	4	not	not	PART
fsr-3131	458	5	reported	report	VERB
fsr-3131	458	6	table	table	NOUN
fsr-3131	458	7	16	16	NUM
fsr-3131	458	8	statistics	statistic	NOUN
fsr-3131	458	9	using	use	VERB
fsr-3131	458	10	2001–2010	2001–2010	NUM
fsr-3131	458	11	return	return	NOUN
fsr-3131	458	12	distributions	distribution	NOUN
fsr-3131	458	13	for	for	ADP
fsr-3131	458	14	simulation	simulation	NOUN
fsr-3131	458	15	sampling	sampling	NOUN
fsr-3131	458	16	,	,	PUNCT
fsr-3131	458	17	short	short	ADJ
fsr-3131	458	18	-	-	PUNCT
fsr-3131	458	19	term	term	NOUN
fsr-3131	458	20	bond	bond	NOUN
fsr-3131	458	21	index	index	NOUN
fsr-3131	458	22	fund	fund	NOUN
fsr-3131	458	23	(	(	PUNCT
fsr-3131	458	24	vbisx	vbisx	NOUN
fsr-3131	458	25	)	)	PUNCT
fsr-3131	458	26	traditional	traditional	ADJ
fsr-3131	458	27	allocation	allocation	NOUN
fsr-3131	458	28	alternative	alternative	NOUN
fsr-3131	458	29	allocation	allocation	NOUN
fsr-3131	458	30	with	with	ADP
fsr-3131	458	31	inverse	inverse	NOUN
fsr-3131	458	32	(	(	PUNCT
fsr-3131	458	33	�	�	PROPN
fsr-3131	458	34	1	1	NUM
fsr-3131	458	35	�	�	PROPN
fsr-3131	458	36	)	)	PUNCT
fsr-3131	458	37	fund	fund	NOUN
fsr-3131	458	38	25	25	NUM
fsr-3131	458	39	-	-	PUNCT
fsr-3131	458	40	year	year	NOUN
fsr-3131	458	41	old	old	ADJ
fsr-3131	458	42	40	40	NUM
fsr-3131	458	43	-	-	PUNCT
fsr-3131	458	44	year	year	NOUN
fsr-3131	458	45	old	old	ADJ
fsr-3131	458	46	55	55	NUM
fsr-3131	458	47	-	-	PUNCT
fsr-3131	458	48	year	year	NOUN
fsr-3131	458	49	old	old	ADJ
fsr-3131	458	50	25	25	NUM
fsr-3131	458	51	-	-	PUNCT
fsr-3131	458	52	year	year	NOUN
fsr-3131	458	53	old	old	ADJ
fsr-3131	458	54	40	40	NUM
fsr-3131	458	55	-	-	PUNCT
fsr-3131	458	56	year	year	NOUN
fsr-3131	458	57	old	old	ADJ
fsr-3131	458	58	55	55	NUM
fsr-3131	458	59	-	-	PUNCT
fsr-3131	458	60	year	year	NOUN
fsr-3131	458	61	old	old	ADJ
fsr-3131	458	62	terminal	terminal	ADJ
fsr-3131	458	63	wealth	wealth	NOUN
fsr-3131	458	64	statistics	statistic	NOUN
fsr-3131	458	65	standard	standard	ADJ
fsr-3131	458	66	deviation	deviation	NOUN
fsr-3131	458	67	$	$	SYM
fsr-3131	458	68	770	770	NUM
fsr-3131	458	69	$	$	SYM
fsr-3131	458	70	647	647	NUM
fsr-3131	458	71	$	$	SYM
fsr-3131	458	72	527	527	NUM
fsr-3131	458	73	$	$	SYM
fsr-3131	458	74	565	565	NUM
fsr-3131	458	75	$	$	SYM
fsr-3131	458	76	467	467	NUM
fsr-3131	458	77	$	$	SYM
fsr-3131	458	78	369	369	NUM
fsr-3131	458	79	mean	mean	NOUN
fsr-3131	458	80	$	$	SYM
fsr-3131	458	81	1,324	1,324	NUM
fsr-3131	458	82	$	$	SYM
fsr-3131	458	83	1,358	1,358	NUM
fsr-3131	458	84	$	$	SYM
fsr-3131	458	85	1,392	1,392	NUM
fsr-3131	458	86	$	$	SYM
fsr-3131	458	87	1,227	1,227	NUM
fsr-3131	458	88	$	$	SYM
fsr-3131	458	89	1,256	1,256	NUM
fsr-3131	458	90	$	$	SYM
fsr-3131	458	91	1,284	1,284	NUM
fsr-3131	458	92	cv	cv	NOUN
fsr-3131	458	93	-	-	PUNCT
fsr-3131	458	94	tw	tw	PROPN
fsr-3131	458	95	0.581	0.581	NUM
fsr-3131	458	96	0.477	0.477	NUM
fsr-3131	458	97	0.379	0.379	NUM
fsr-3131	458	98	0.461	0.461	NUM
fsr-3131	458	99	0.372	0.372	NUM
fsr-3131	458	100	0.287	0.287	NUM
fsr-3131	458	101	sharpe	sharpe	PROPN
fsr-3131	458	102	ratio	ratio	PROPN
fsr-3131	458	103	statistics	statistic	NOUN
fsr-3131	458	104	standard	standard	ADJ
fsr-3131	458	105	deviation	deviation	NOUN
fsr-3131	458	106	0.093	0.093	NUM
fsr-3131	458	107	0.093	0.093	NUM
fsr-3131	458	108	0.093	0.093	NUM
fsr-3131	458	109	0.093	0.093	NUM
fsr-3131	458	110	0.093	0.093	NUM
fsr-3131	458	111	0.093	0.093	NUM
fsr-3131	458	112	mean	mean	NOUN
fsr-3131	458	113	0.016	0.016	NUM
fsr-3131	458	114	0.023	0.023	NUM
fsr-3131	458	115	0.034	0.034	NUM
fsr-3131	458	116	0.001	0.001	NUM
fsr-3131	458	117	0.007	0.007	NUM
fsr-3131	458	118	0.015	0.015	NUM
fsr-3131	458	119	cv	cv	PROPN
fsr-3131	458	120	-	-	PUNCT
fsr-3131	458	121	s	s	PROPN
fsr-3131	458	122	5.852	5.852	NUM
fsr-3131	458	123	4.013	4.013	NUM
fsr-3131	458	124	2.737	2.737	NUM
fsr-3131	458	125	76.871	76.871	NUM
fsr-3131	458	126	13.945	13.945	NUM
fsr-3131	458	127	6.084	6.084	NUM
fsr-3131	458	128	alternative	alternative	ADJ
fsr-3131	458	129	allocation	allocation	NOUN
fsr-3131	458	130	with	with	ADP
fsr-3131	458	131	risk	risk	NOUN
fsr-3131	458	132	-	-	PUNCT
fsr-3131	458	133	free	free	ADJ
fsr-3131	458	134	asset	asset	NOUN
fsr-3131	458	135	alternative	alternative	ADJ
fsr-3131	458	136	allocation	allocation	NOUN
fsr-3131	458	137	with	with	ADP
fsr-3131	458	138	leveraged	leveraged	ADJ
fsr-3131	458	139	(	(	PUNCT
fsr-3131	458	140	2	2	NUM
fsr-3131	458	141	�	�	NOUN
fsr-3131	458	142	)	)	PUNCT
fsr-3131	458	143	fund	fund	NOUN
fsr-3131	458	144	25	25	NUM
fsr-3131	458	145	-	-	PUNCT
fsr-3131	458	146	year	year	NOUN
fsr-3131	458	147	old	old	ADJ
fsr-3131	458	148	40	40	NUM
fsr-3131	458	149	-	-	PUNCT
fsr-3131	458	150	year	year	NOUN
fsr-3131	458	151	old	old	ADJ
fsr-3131	458	152	55	55	NUM
fsr-3131	458	153	-	-	PUNCT
fsr-3131	458	154	year	year	NOUN
fsr-3131	458	155	old	old	ADJ
fsr-3131	458	156	25	25	NUM
fsr-3131	458	157	-	-	PUNCT
fsr-3131	458	158	year	year	NOUN
fsr-3131	458	159	old	old	ADJ
fsr-3131	458	160	40	40	NUM
fsr-3131	458	161	-	-	PUNCT
fsr-3131	458	162	year	year	NOUN
fsr-3131	458	163	old	old	ADJ
fsr-3131	458	164	55	55	NUM
fsr-3131	458	165	-	-	PUNCT
fsr-3131	458	166	year	year	NOUN
fsr-3131	458	167	old	old	ADJ
fsr-3131	458	168	terminal	terminal	ADJ
fsr-3131	458	169	wealth	wealth	NOUN
fsr-3131	458	170	statistics	statistic	NOUN
fsr-3131	458	171	standard	standard	ADJ
fsr-3131	458	172	deviation	deviation	NOUN
fsr-3131	458	173	$	$	SYM
fsr-3131	458	174	676	676	NUM
fsr-3131	458	175	$	$	SYM
fsr-3131	458	176	570	570	NUM
fsr-3131	458	177	$	$	SYM
fsr-3131	458	178	465	465	NUM
fsr-3131	458	179	$	$	SYM
fsr-3131	458	180	873	873	NUM
fsr-3131	458	181	$	$	SYM
fsr-3131	458	182	760	760	NUM
fsr-3131	458	183	$	$	SYM
fsr-3131	458	184	649	649	NUM
fsr-3131	458	185	mean	mean	NOUN
fsr-3131	458	186	$	$	SYM
fsr-3131	458	187	1,314	1,314	NUM
fsr-3131	458	188	$	$	SYM
fsr-3131	458	189	1,344	1,344	NUM
fsr-3131	458	190	$	$	SYM
fsr-3131	458	191	1,375	1,375	NUM
fsr-3131	458	192	$	$	SYM
fsr-3131	458	193	1,329	1,329	NUM
fsr-3131	458	194	$	$	SYM
fsr-3131	458	195	1,360	1,360	NUM
fsr-3131	458	196	$	$	SYM
fsr-3131	458	197	1,391	1,391	NUM
fsr-3131	458	198	cv	cv	PROPN
fsr-3131	458	199	-	-	PUNCT
fsr-3131	458	200	tw	tw	PROPN
fsr-3131	458	201	0.515	0.515	NUM
fsr-3131	458	202	0.424	0.424	NUM
fsr-3131	458	203	0.338	0.338	NUM
fsr-3131	458	204	0.657	0.657	NUM
fsr-3131	458	205	0.559	0.559	NUM
fsr-3131	458	206	0.466	0.466	NUM
fsr-3131	458	207	sharpe	sharpe	PROPN
fsr-3131	458	208	ratio	ratio	PROPN
fsr-3131	458	209	statistics	statistic	NOUN
fsr-3131	458	210	standard	standard	ADJ
fsr-3131	458	211	deviation	deviation	NOUN
fsr-3131	458	212	0.093	0.093	NUM
fsr-3131	458	213	0.093	0.093	NUM
fsr-3131	458	214	0.093	0.093	NUM
fsr-3131	458	215	0.093	0.093	NUM
fsr-3131	458	216	0.093	0.093	NUM
fsr-3131	458	217	0.093	0.093	NUM
fsr-3131	458	218	mean	mean	NOUN
fsr-3131	458	219	0.016	0.016	NUM
fsr-3131	458	220	0.023	0.023	NUM
fsr-3131	458	221	0.034	0.034	NUM
fsr-3131	458	222	0.015	0.015	NUM
fsr-3131	458	223	0.020	0.020	NUM
fsr-3131	458	224	0.028	0.028	NUM
fsr-3131	458	225	cv	cv	PROPN
fsr-3131	458	226	-	-	PUNCT
fsr-3131	458	227	s	s	PROPN
fsr-3131	458	228	5.951	5.951	NUM
fsr-3131	458	229	4.050	4.050	NUM
fsr-3131	458	230	2.750	2.750	NUM
fsr-3131	458	231	6.296	6.296	NUM
fsr-3131	458	232	4.573	4.573	NUM
fsr-3131	458	233	3.329	3.329	NUM
fsr-3131	458	234	notes	note	NOUN
fsr-3131	458	235	.	.	PUNCT
fsr-3131	459	1	this	this	DET
fsr-3131	459	2	table	table	NOUN
fsr-3131	459	3	shows	show	VERB
fsr-3131	459	4	central	central	ADJ
fsr-3131	459	5	tendency	tendency	NOUN
fsr-3131	459	6	and	and	CCONJ
fsr-3131	459	7	dispersion	dispersion	NOUN
fsr-3131	459	8	of	of	ADP
fsr-3131	459	9	terminal	terminal	ADJ
fsr-3131	459	10	wealth	wealth	NOUN
fsr-3131	459	11	and	and	CCONJ
fsr-3131	459	12	sharpe	sharpe	NOUN
fsr-3131	459	13	ratios	ratio	NOUN
fsr-3131	459	14	for	for	ADP
fsr-3131	459	15	each	each	PRON
fsr-3131	459	16	of	of	ADP
fsr-3131	459	17	the	the	DET
fsr-3131	459	18	three	three	NUM
fsr-3131	459	19	investors	investor	NOUN
fsr-3131	459	20	identified	identify	VERB
fsr-3131	459	21	.	.	PUNCT
fsr-3131	460	1	results	result	NOUN
fsr-3131	460	2	were	be	AUX
fsr-3131	460	3	obtained	obtain	VERB
fsr-3131	460	4	from	from	ADP
fsr-3131	460	5	100,000	100,000	NUM
fsr-3131	460	6	trials	trial	NOUN
fsr-3131	460	7	,	,	PUNCT
fsr-3131	460	8	annual	annual	ADJ
fsr-3131	460	9	rebalancing	rebalancing	NOUN
fsr-3131	460	10	,	,	PUNCT
fsr-3131	460	11	and	and	CCONJ
fsr-3131	460	12	an	an	DET
fsr-3131	460	13	annual	annual	ADJ
fsr-3131	460	14	fee	fee	NOUN
fsr-3131	460	15	as	as	SCONJ
fsr-3131	460	16	shown	show	VERB
fsr-3131	460	17	in	in	ADP
fsr-3131	460	18	the	the	DET
fsr-3131	460	19	last	last	ADJ
fsr-3131	460	20	column	column	NOUN
fsr-3131	460	21	of	of	ADP
fsr-3131	460	22	tables	table	NOUN
fsr-3131	460	23	8	8	NUM
fsr-3131	460	24	and	and	CCONJ
fsr-3131	460	25	9	9	NUM
fsr-3131	460	26	for	for	ADP
fsr-3131	460	27	the	the	DET
fsr-3131	460	28	simulated	simulated	ADJ
fsr-3131	460	29	inverse	inverse	NOUN
fsr-3131	460	30	or	or	CCONJ
fsr-3131	460	31	leveraged	leverage	VERB
fsr-3131	460	32	stock	stock	NOUN
fsr-3131	460	33	fund	fund	NOUN
fsr-3131	460	34	.	.	PUNCT
fsr-3131	461	1	146	146	NUM
fsr-3131	461	2	j.a	j.a	PROPN
fsr-3131	461	3	.	.	PROPN
fsr-3131	461	4	dilellio	dilellio	PROPN
fsr-3131	461	5	,	,	PUNCT
fsr-3131	461	6	r.	r.	PROPN
fsr-3131	461	7	hesse	hesse	PROPN
fsr-3131	461	8	,	,	PUNCT
fsr-3131	461	9	d.j	d.j	PROPN
fsr-3131	461	10	.	.	PROPN
fsr-3131	461	11	stanley	stanley	PROPN
fsr-3131	461	12	/	/	SYM
fsr-3131	461	13	financial	financial	ADJ
fsr-3131	461	14	services	service	NOUN
fsr-3131	461	15	review	review	VERB
fsr-3131	461	16	23	23	NUM
fsr-3131	461	17	(	(	PUNCT
fsr-3131	461	18	2014	2014	NUM
fsr-3131	461	19	)	)	PUNCT
fsr-3131	461	20	123–149	123–149	NUM
fsr-3131	461	21	because	because	SCONJ
fsr-3131	461	22	it	it	PRON
fsr-3131	461	23	violated	violate	VERB
fsr-3131	461	24	our	our	PRON
fsr-3131	461	25	desire	desire	NOUN
fsr-3131	461	26	to	to	PART
fsr-3131	461	27	use	use	VERB
fsr-3131	461	28	temporally	temporally	ADV
fsr-3131	461	29	uncorrelated	uncorrelated	ADJ
fsr-3131	461	30	historical	historical	ADJ
fsr-3131	461	31	periods	period	NOUN
fsr-3131	461	32	.	.	PUNCT
fsr-3131	462	1	nevertheless	nevertheless	ADV
fsr-3131	462	2	,	,	PUNCT
fsr-3131	462	3	when	when	SCONJ
fsr-3131	462	4	the	the	DET
fsr-3131	462	5	simulation	simulation	NOUN
fsr-3131	462	6	drew	draw	VERB
fsr-3131	462	7	from	from	ADP
fsr-3131	462	8	this	this	DET
fsr-3131	462	9	time	time	NOUN
fsr-3131	462	10	period	period	NOUN
fsr-3131	462	11	,	,	PUNCT
fsr-3131	462	12	a	a	DET
fsr-3131	462	13	negative	negative	ADJ
fsr-3131	462	14	mean	mean	NOUN
fsr-3131	462	15	sharpe	sharpe	PROPN
fsr-3131	462	16	ratio	ratio	PROPN
fsr-3131	462	17	was	be	AUX
fsr-3131	462	18	found	find	VERB
fsr-3131	462	19	,	,	PUNCT
fsr-3131	462	20	making	make	VERB
fsr-3131	462	21	interpreting	interpret	VERB
fsr-3131	462	22	a	a	DET
fsr-3131	462	23	cv	cv	PROPN
fsr-3131	462	24	of	of	ADP
fsr-3131	462	25	sharpe	sharpe	PROPN
fsr-3131	462	26	ratio	ratio	PROPN
fsr-3131	462	27	statistics	statistic	NOUN
fsr-3131	462	28	problematic	problematic	ADJ
fsr-3131	462	29	because	because	SCONJ
fsr-3131	462	30	both	both	CCONJ
fsr-3131	462	31	a	a	DET
fsr-3131	462	32	small	small	ADJ
fsr-3131	462	33	standard	standard	ADJ
fsr-3131	462	34	deviation	deviation	NOUN
fsr-3131	462	35	or	or	CCONJ
fsr-3131	462	36	large	large	ADJ
fsr-3131	462	37	negative	negative	ADJ
fsr-3131	462	38	mean	mean	NOUN
fsr-3131	462	39	of	of	ADP
fsr-3131	462	40	the	the	DET
fsr-3131	462	41	sharpe	sharpe	PROPN
fsr-3131	462	42	ratio	ratio	NOUN
fsr-3131	462	43	could	could	AUX
fsr-3131	462	44	lead	lead	VERB
fsr-3131	462	45	to	to	ADP
fsr-3131	462	46	a	a	DET
fsr-3131	462	47	large	large	ADJ
fsr-3131	462	48	negative	negative	ADJ
fsr-3131	462	49	cv	cv	NOUN
fsr-3131	462	50	of	of	ADP
fsr-3131	462	51	the	the	DET
fsr-3131	462	52	sharpe	sharpe	PROPN
fsr-3131	462	53	ratio	ratio	NOUN
fsr-3131	462	54	.	.	PUNCT
fsr-3131	463	1	thus	thus	ADV
fsr-3131	463	2	,	,	PUNCT
fsr-3131	463	3	the	the	DET
fsr-3131	463	4	negative	negative	ADJ
fsr-3131	463	5	cv	cv	NOUN
fsr-3131	463	6	value	value	NOUN
fsr-3131	463	7	for	for	ADP
fsr-3131	463	8	the	the	DET
fsr-3131	463	9	sharpe	sharpe	PROPN
fsr-3131	463	10	ratio	ratio	PROPN
fsr-3131	463	11	statistics	statistic	NOUN
fsr-3131	463	12	for	for	ADP
fsr-3131	463	13	the	the	DET
fsr-3131	463	14	“	"	PUNCT
fsr-3131	463	15	falling	fall	VERB
fsr-3131	463	16	”	"	PUNCT
fsr-3131	463	17	equity	equity	NOUN
fsr-3131	463	18	price	price	NOUN
fsr-3131	463	19	case	case	NOUN
fsr-3131	463	20	are	be	AUX
fsr-3131	463	21	not	not	PART
fsr-3131	463	22	as	as	ADV
fsr-3131	463	23	easily	easily	ADV
fsr-3131	463	24	reconcilable	reconcilable	ADJ
fsr-3131	463	25	to	to	PART
fsr-3131	463	26	preference	preference	VERB
fsr-3131	463	27	for	for	ADP
fsr-3131	463	28	rational	rational	ADJ
fsr-3131	463	29	investors	investor	NOUN
fsr-3131	463	30	.	.	PUNCT
fsr-3131	464	1	8	8	NUM
fsr-3131	464	2	this	this	DET
fsr-3131	464	3	fund	fund	NOUN
fsr-3131	464	4	was	be	AUX
fsr-3131	464	5	acquired	acquire	VERB
fsr-3131	464	6	by	by	ADP
fsr-3131	464	7	vanguard	vanguard	NOUN
fsr-3131	464	8	.	.	PUNCT
fsr-3131	465	1	its	its	PRON
fsr-3131	465	2	actual	actual	ADJ
fsr-3131	465	3	inception	inception	NOUN
fsr-3131	465	4	date	date	NOUN
fsr-3131	465	5	is	be	AUX
fsr-3131	465	6	in	in	ADP
fsr-3131	465	7	1960	1960	NUM
fsr-3131	465	8	,	,	PUNCT
fsr-3131	465	9	but	but	CCONJ
fsr-3131	465	10	began	begin	VERB
fsr-3131	465	11	operating	operate	VERB
fsr-3131	465	12	as	as	ADP
fsr-3131	465	13	a	a	DET
fsr-3131	465	14	passive	passive	ADJ
fsr-3131	465	15	low	low	ADJ
fsr-3131	465	16	-	-	PUNCT
fsr-3131	465	17	cost	cost	NOUN
fsr-3131	465	18	index	index	NOUN
fsr-3131	465	19	fund	fund	NOUN
fsr-3131	465	20	in	in	ADP
fsr-3131	465	21	1989	1989	NUM
fsr-3131	465	22	.	.	PUNCT
fsr-3131	466	1	source	source	NOUN
fsr-3131	466	2	:	:	PUNCT
fsr-3131	466	3	http://socialize.morning	http://socialize.morne	VERB
fsr-3131	466	4	star.com/newsocialize/forums/p/94965/94965.aspx#94965	star.com/newsocialize/forums/p/94965/94965.aspx#94965	NOUN
fsr-3131	466	5	.	.	PUNCT
fsr-3131	467	1	table	table	NOUN
fsr-3131	467	2	17	17	NUM
fsr-3131	467	3	statistics	statistic	NOUN
fsr-3131	467	4	using	use	VERB
fsr-3131	467	5	2001–2010	2001–2010	NUM
fsr-3131	467	6	return	return	NOUN
fsr-3131	467	7	distributions	distribution	NOUN
fsr-3131	467	8	for	for	ADP
fsr-3131	467	9	simulation	simulation	NOUN
fsr-3131	467	10	sampling	sampling	NOUN
fsr-3131	467	11	,	,	PUNCT
fsr-3131	467	12	long	long	ADJ
fsr-3131	467	13	-	-	PUNCT
fsr-3131	467	14	term	term	NOUN
fsr-3131	467	15	bond	bond	NOUN
fsr-3131	467	16	index	index	NOUN
fsr-3131	467	17	fund	fund	NOUN
fsr-3131	467	18	(	(	PUNCT
fsr-3131	467	19	vbltx	vbltx	NOUN
fsr-3131	467	20	)	)	PUNCT
fsr-3131	467	21	traditional	traditional	ADJ
fsr-3131	467	22	allocation	allocation	NOUN
fsr-3131	467	23	alternative	alternative	NOUN
fsr-3131	467	24	allocation	allocation	NOUN
fsr-3131	467	25	with	with	ADP
fsr-3131	467	26	inverse	inverse	NOUN
fsr-3131	467	27	(	(	PUNCT
fsr-3131	467	28	�	�	PROPN
fsr-3131	467	29	1	1	NUM
fsr-3131	467	30	�	�	PROPN
fsr-3131	467	31	)	)	PUNCT
fsr-3131	467	32	fund	fund	NOUN
fsr-3131	467	33	25	25	NUM
fsr-3131	467	34	-	-	PUNCT
fsr-3131	467	35	year	year	NOUN
fsr-3131	467	36	old	old	ADJ
fsr-3131	467	37	40	40	NUM
fsr-3131	467	38	-	-	PUNCT
fsr-3131	467	39	year	year	NOUN
fsr-3131	467	40	old	old	ADJ
fsr-3131	467	41	55	55	NUM
fsr-3131	467	42	-	-	PUNCT
fsr-3131	467	43	year	year	NOUN
fsr-3131	467	44	old	old	ADJ
fsr-3131	467	45	25	25	NUM
fsr-3131	467	46	-	-	PUNCT
fsr-3131	467	47	year	year	NOUN
fsr-3131	467	48	old	old	ADJ
fsr-3131	467	49	40	40	NUM
fsr-3131	467	50	-	-	PUNCT
fsr-3131	467	51	year	year	NOUN
fsr-3131	467	52	old	old	ADJ
fsr-3131	467	53	55	55	NUM
fsr-3131	467	54	-	-	PUNCT
fsr-3131	467	55	year	year	NOUN
fsr-3131	467	56	old	old	ADJ
fsr-3131	467	57	terminal	terminal	ADJ
fsr-3131	467	58	wealth	wealth	NOUN
fsr-3131	467	59	statistics	statistic	NOUN
fsr-3131	467	60	standard	standard	ADJ
fsr-3131	467	61	deviation	deviation	NOUN
fsr-3131	468	1	$	$	SYM
fsr-3131	468	2	781	781	NUM
fsr-3131	468	3	$	$	SYM
fsr-3131	468	4	690	690	NUM
fsr-3131	468	5	$	$	SYM
fsr-3131	468	6	605	605	NUM
fsr-3131	468	7	$	$	SYM
fsr-3131	468	8	573	573	NUM
fsr-3131	468	9	$	$	SYM
fsr-3131	468	10	497	497	NUM
fsr-3131	468	11	$	$	SYM
fsr-3131	468	12	426	426	NUM
fsr-3131	468	13	mean	mean	VERB
fsr-3131	468	14	$	$	SYM
fsr-3131	468	15	1,343	1,343	NUM
fsr-3131	468	16	$	$	SYM
fsr-3131	468	17	1,432	1,432	NUM
fsr-3131	468	18	$	$	SYM
fsr-3131	468	19	1,526	1,526	NUM
fsr-3131	468	20	$	$	SYM
fsr-3131	468	21	1,243	1,243	NUM
fsr-3131	468	22	$	$	SYM
fsr-3131	468	23	1,317	1,317	NUM
fsr-3131	468	24	$	$	SYM
fsr-3131	468	25	1,395	1,395	NUM
fsr-3131	468	26	cv	cv	PROPN
fsr-3131	468	27	-	-	PUNCT
fsr-3131	468	28	tw	tw	PROPN
fsr-3131	468	29	0.581	0.581	NUM
fsr-3131	468	30	0.482	0.482	NUM
fsr-3131	468	31	0.397	0.397	NUM
fsr-3131	468	32	0.461	0.461	NUM
fsr-3131	468	33	0.377	0.377	NUM
fsr-3131	468	34	0.306	0.306	NUM
fsr-3131	468	35	sharpe	sharpe	PROPN
fsr-3131	468	36	ratio	ratio	PROPN
fsr-3131	468	37	statistics	statistic	NOUN
fsr-3131	468	38	standard	standard	ADJ
fsr-3131	468	39	deviation	deviation	NOUN
fsr-3131	468	40	0.093	0.093	NUM
fsr-3131	468	41	0.093	0.093	NUM
fsr-3131	468	42	0.094	0.094	NUM
fsr-3131	468	43	0.093	0.093	NUM
fsr-3131	468	44	0.093	0.093	NUM
fsr-3131	468	45	0.094	0.094	NUM
fsr-3131	468	46	mean	mean	NOUN
fsr-3131	468	47	0.018	0.018	NUM
fsr-3131	468	48	0.034	0.034	NUM
fsr-3131	468	49	0.055	0.055	NUM
fsr-3131	468	50	0.004	0.004	NUM
fsr-3131	468	51	0.019	0.019	NUM
fsr-3131	468	52	0.042	0.042	NUM
fsr-3131	468	53	cv	cv	PROPN
fsr-3131	468	54	-	-	PUNCT
fsr-3131	468	55	s	s	PART
fsr-3131	468	56	5.096	5.096	NUM
fsr-3131	468	57	2.745	2.745	NUM
fsr-3131	468	58	1.694	1.694	NUM
fsr-3131	468	59	23.859	23.859	NUM
fsr-3131	468	60	4.827	4.827	NUM
fsr-3131	468	61	2.263	2.263	NUM
fsr-3131	468	62	alternative	alternative	ADJ
fsr-3131	468	63	allocation	allocation	NOUN
fsr-3131	468	64	with	with	ADP
fsr-3131	468	65	risk	risk	NOUN
fsr-3131	468	66	-	-	PUNCT
fsr-3131	468	67	free	free	ADJ
fsr-3131	468	68	asset	asset	NOUN
fsr-3131	468	69	alternative	alternative	ADJ
fsr-3131	468	70	allocation	allocation	NOUN
fsr-3131	468	71	with	with	ADP
fsr-3131	468	72	leveraged	leveraged	ADJ
fsr-3131	468	73	(	(	PUNCT
fsr-3131	468	74	2	2	NUM
fsr-3131	468	75	�	�	NOUN
fsr-3131	468	76	)	)	PUNCT
fsr-3131	468	77	fund	fund	NOUN
fsr-3131	468	78	25	25	NUM
fsr-3131	468	79	-	-	PUNCT
fsr-3131	468	80	year	year	NOUN
fsr-3131	468	81	old	old	ADJ
fsr-3131	468	82	40	40	NUM
fsr-3131	468	83	-	-	PUNCT
fsr-3131	468	84	year	year	NOUN
fsr-3131	468	85	old	old	ADJ
fsr-3131	468	86	55	55	NUM
fsr-3131	468	87	-	-	PUNCT
fsr-3131	468	88	year	year	NOUN
fsr-3131	468	89	old	old	ADJ
fsr-3131	468	90	25	25	NUM
fsr-3131	468	91	-	-	PUNCT
fsr-3131	468	92	year	year	NOUN
fsr-3131	468	93	old	old	ADJ
fsr-3131	468	94	40	40	NUM
fsr-3131	468	95	-	-	PUNCT
fsr-3131	468	96	year	year	NOUN
fsr-3131	468	97	old	old	ADJ
fsr-3131	468	98	55	55	NUM
fsr-3131	468	99	-	-	PUNCT
fsr-3131	468	100	year	year	NOUN
fsr-3131	468	101	old	old	ADJ
fsr-3131	468	102	terminal	terminal	ADJ
fsr-3131	468	103	wealth	wealth	NOUN
fsr-3131	468	104	statistics	statistic	NOUN
fsr-3131	468	105	standard	standard	ADJ
fsr-3131	468	106	deviation	deviation	NOUN
fsr-3131	468	107	$	$	SYM
fsr-3131	468	108	686	686	NUM
fsr-3131	468	109	$	$	SYM
fsr-3131	468	110	606	606	NUM
fsr-3131	468	111	$	$	SYM
fsr-3131	468	112	530	530	NUM
fsr-3131	468	113	$	$	SYM
fsr-3131	468	114	882	882	NUM
fsr-3131	468	115	$	$	SYM
fsr-3131	468	116	801	801	NUM
fsr-3131	468	117	$	$	SYM
fsr-3131	468	118	722	722	NUM
fsr-3131	468	119	mean	mean	VERB
fsr-3131	468	120	$	$	SYM
fsr-3131	468	121	1,331	1,331	NUM
fsr-3131	468	122	$	$	SYM
fsr-3131	468	123	1,410	1,410	NUM
fsr-3131	468	124	$	$	SYM
fsr-3131	468	125	1,493	1,493	NUM
fsr-3131	468	126	$	$	SYM
fsr-3131	468	127	1,349	1,349	NUM
fsr-3131	468	128	$	$	SYM
fsr-3131	468	129	1,429	1,429	NUM
fsr-3131	468	130	$	$	SYM
fsr-3131	468	131	1,514	1,514	NUM
fsr-3131	468	132	cv	cv	PROPN
fsr-3131	468	133	-	-	PUNCT
fsr-3131	468	134	tw	tw	PROPN
fsr-3131	468	135	0.515	0.515	NUM
fsr-3131	468	136	0.430	0.430	NUM
fsr-3131	468	137	0.355	0.355	NUM
fsr-3131	468	138	0.654	0.654	NUM
fsr-3131	468	139	0.560	0.560	NUM
fsr-3131	468	140	0.477	0.477	NUM
fsr-3131	468	141	sharpe	sharpe	PROPN
fsr-3131	468	142	ratio	ratio	PROPN
fsr-3131	468	143	statistics	statistic	NOUN
fsr-3131	468	144	standard	standard	ADJ
fsr-3131	468	145	deviation	deviation	NOUN
fsr-3131	468	146	0.093	0.093	NUM
fsr-3131	468	147	0.093	0.093	NUM
fsr-3131	468	148	0.094	0.094	NUM
fsr-3131	468	149	0.093	0.093	NUM
fsr-3131	468	150	0.093	0.093	NUM
fsr-3131	468	151	0.093	0.093	NUM
fsr-3131	468	152	mean	mean	NOUN
fsr-3131	468	153	0.018	0.018	NUM
fsr-3131	468	154	0.034	0.034	NUM
fsr-3131	468	155	0.056	0.056	NUM
fsr-3131	468	156	0.017	0.017	NUM
fsr-3131	468	157	0.029	0.029	NUM
fsr-3131	468	158	0.045	0.045	NUM
fsr-3131	468	159	cv	cv	PROPN
fsr-3131	468	160	-	-	PUNCT
fsr-3131	468	161	s	s	PART
fsr-3131	468	162	5.084	5.084	NUM
fsr-3131	468	163	2.742	2.742	NUM
fsr-3131	468	164	1.693	1.693	NUM
fsr-3131	468	165	5.420	5.420	NUM
fsr-3131	468	166	3.162	3.162	NUM
fsr-3131	468	167	2.060	2.060	NUM
fsr-3131	468	168	notes	note	NOUN
fsr-3131	468	169	.	.	PUNCT
fsr-3131	469	1	this	this	DET
fsr-3131	469	2	table	table	NOUN
fsr-3131	469	3	shows	show	VERB
fsr-3131	469	4	central	central	ADJ
fsr-3131	469	5	tendency	tendency	NOUN
fsr-3131	469	6	and	and	CCONJ
fsr-3131	469	7	dispersion	dispersion	NOUN
fsr-3131	469	8	of	of	ADP
fsr-3131	469	9	terminal	terminal	ADJ
fsr-3131	469	10	wealth	wealth	NOUN
fsr-3131	469	11	and	and	CCONJ
fsr-3131	469	12	sharpe	sharpe	NOUN
fsr-3131	469	13	ratios	ratio	NOUN
fsr-3131	469	14	for	for	ADP
fsr-3131	469	15	each	each	PRON
fsr-3131	469	16	of	of	ADP
fsr-3131	469	17	the	the	DET
fsr-3131	469	18	three	three	NUM
fsr-3131	469	19	investors	investor	NOUN
fsr-3131	469	20	identified	identify	VERB
fsr-3131	469	21	.	.	PUNCT
fsr-3131	470	1	results	result	NOUN
fsr-3131	470	2	were	be	AUX
fsr-3131	470	3	obtained	obtain	VERB
fsr-3131	470	4	from	from	ADP
fsr-3131	470	5	100,000	100,000	NUM
fsr-3131	470	6	trials	trial	NOUN
fsr-3131	470	7	,	,	PUNCT
fsr-3131	470	8	annual	annual	ADJ
fsr-3131	470	9	rebalancing	rebalancing	NOUN
fsr-3131	470	10	,	,	PUNCT
fsr-3131	470	11	and	and	CCONJ
fsr-3131	470	12	an	an	DET
fsr-3131	470	13	annual	annual	ADJ
fsr-3131	470	14	fee	fee	NOUN
fsr-3131	470	15	as	as	SCONJ
fsr-3131	470	16	shown	show	VERB
fsr-3131	470	17	in	in	ADP
fsr-3131	470	18	the	the	DET
fsr-3131	470	19	last	last	ADJ
fsr-3131	470	20	column	column	NOUN
fsr-3131	470	21	of	of	ADP
fsr-3131	470	22	tables	table	NOUN
fsr-3131	470	23	8	8	NUM
fsr-3131	470	24	and	and	CCONJ
fsr-3131	470	25	9	9	NUM
fsr-3131	470	26	for	for	ADP
fsr-3131	470	27	the	the	DET
fsr-3131	470	28	simulated	simulated	ADJ
fsr-3131	470	29	inverse	inverse	NOUN
fsr-3131	470	30	or	or	CCONJ
fsr-3131	470	31	leveraged	leverage	VERB
fsr-3131	470	32	stock	stock	NOUN
fsr-3131	470	33	fund	fund	NOUN
fsr-3131	470	34	.	.	PUNCT
fsr-3131	471	1	147j.a	147j.a	NOUN
fsr-3131	471	2	.	.	PUNCT
fsr-3131	472	1	dilellio	dilellio	PROPN
fsr-3131	472	2	,	,	PUNCT
fsr-3131	472	3	r.	r.	PROPN
fsr-3131	472	4	hesse	hesse	PROPN
fsr-3131	472	5	,	,	PUNCT
fsr-3131	472	6	d.j	d.j	PROPN
fsr-3131	472	7	.	.	PROPN
fsr-3131	472	8	stanley	stanley	PROPN
fsr-3131	472	9	/	/	SYM
fsr-3131	472	10	financial	financial	ADJ
fsr-3131	472	11	services	service	NOUN
fsr-3131	472	12	review	review	VERB
fsr-3131	472	13	23	23	NUM
fsr-3131	472	14	(	(	PUNCT
fsr-3131	472	15	2014	2014	NUM
fsr-3131	472	16	)	)	PUNCT
fsr-3131	472	17	123–149	123–149	NUM
fsr-3131	472	18	references	reference	NOUN
fsr-3131	472	19	ammermann	ammermann	PROPN
fsr-3131	472	20	,	,	PUNCT
fsr-3131	472	21	p.	p.	PROPN
fsr-3131	472	22	,	,	PUNCT
fsr-3131	472	23	runyon	runyon	PROPN
fsr-3131	472	24	,	,	PUNCT
fsr-3131	472	25	l.	l.	PROPN
fsr-3131	472	26	,	,	PUNCT
fsr-3131	472	27	&	&	CCONJ
fsr-3131	472	28	conceicao	conceicao	PROPN
fsr-3131	472	29	,	,	PUNCT
fsr-3131	472	30	r.	r.	PROPN
fsr-3131	472	31	(	(	PUNCT
fsr-3131	472	32	2011	2011	NUM
fsr-3131	472	33	)	)	PUNCT
fsr-3131	472	34	.	.	PUNCT
fsr-3131	473	1	a	a	DET
fsr-3131	473	2	new	new	ADJ
fsr-3131	473	3	quantitative	quantitative	ADJ
fsr-3131	473	4	approach	approach	NOUN
fsr-3131	473	5	for	for	ADP
fsr-3131	473	6	the	the	DET
fsr-3131	473	7	management	management	NOUN
fsr-3131	473	8	of	of	ADP
fsr-3131	473	9	a	a	DET
fsr-3131	473	10	student	student	NOUN
fsr-3131	473	11	-	-	PUNCT
fsr-3131	473	12	managed	manage	VERB
fsr-3131	473	13	investment	investment	NOUN
fsr-3131	473	14	fund	fund	NOUN
fsr-3131	473	15	.	.	PUNCT
fsr-3131	474	1	managerial	managerial	ADJ
fsr-3131	474	2	finance	finance	NOUN
fsr-3131	474	3	,	,	PUNCT
fsr-3131	474	4	37	37	NUM
fsr-3131	474	5	,	,	PUNCT
fsr-3131	474	6	624–635	624–635	NUM
fsr-3131	474	7	.	.	PROPN
fsr-3131	474	8	arshanapalli	arshanapalli	PROPN
fsr-3131	474	9	,	,	PUNCT
fsr-3131	474	10	b.	b.	PROPN
fsr-3131	474	11	g.	g.	PROPN
fsr-3131	474	12	,	,	PUNCT
fsr-3131	474	13	&	&	CCONJ
fsr-3131	474	14	nelson	nelson	PROPN
fsr-3131	474	15	,	,	PUNCT
fsr-3131	474	16	w.	w.	PROPN
fsr-3131	474	17	b.	b.	PROPN
fsr-3131	474	18	(	(	PUNCT
fsr-3131	474	19	2010	2010	NUM
fsr-3131	474	20	)	)	PUNCT
fsr-3131	474	21	.	.	PUNCT
fsr-3131	475	1	yes	yes	INTJ
fsr-3131	475	2	virginia	virginia	PROPN
fsr-3131	475	3	,	,	PUNCT
fsr-3131	475	4	diversification	diversification	NOUN
fsr-3131	475	5	is	be	AUX
fsr-3131	475	6	still	still	ADV
fsr-3131	475	7	a	a	DET
fsr-3131	475	8	free	free	ADJ
fsr-3131	475	9	lunch	lunch	NOUN
fsr-3131	475	10	.	.	PUNCT
fsr-3131	476	1	journal	journal	PROPN
fsr-3131	476	2	of	of	ADP
fsr-3131	476	3	wealth	wealth	NOUN
fsr-3131	476	4	management	management	NOUN
fsr-3131	476	5	,	,	PUNCT
fsr-3131	476	6	13	13	NUM
fsr-3131	476	7	,	,	PUNCT
fsr-3131	476	8	34–40	34–40	NUM
fsr-3131	476	9	.	.	PUNCT
fsr-3131	477	1	barnhorst	barnhorst	PROPN
fsr-3131	477	2	,	,	PUNCT
fsr-3131	477	3	b.	b.	PROPN
fsr-3131	477	4	c.	c.	PROPN
fsr-3131	477	5	,	,	PUNCT
fsr-3131	477	6	&	&	CCONJ
fsr-3131	477	7	cocozza	cocozza	PROPN
fsr-3131	477	8	,	,	PUNCT
fsr-3131	477	9	c.	c.	PROPN
fsr-3131	477	10	r.	r.	PROPN
fsr-3131	477	11	(	(	PUNCT
fsr-3131	477	12	2010	2010	NUM
fsr-3131	477	13	)	)	PUNCT
fsr-3131	477	14	.	.	PUNCT
fsr-3131	478	1	inverse	inverse	NOUN
fsr-3131	478	2	and	and	CCONJ
fsr-3131	478	3	leveraged	leveraged	ADJ
fsr-3131	478	4	etfs	etfs	NOUN
fsr-3131	478	5	:	:	PUNCT
fsr-3131	478	6	considering	consider	VERB
fsr-3131	478	7	the	the	DET
fsr-3131	478	8	alternatives	alternative	NOUN
fsr-3131	478	9	.	.	PUNCT
fsr-3131	479	1	journal	journal	NOUN
fsr-3131	479	2	of	of	ADP
fsr-3131	479	3	financial	financial	ADJ
fsr-3131	479	4	planning	planning	NOUN
fsr-3131	479	5	,	,	PUNCT
fsr-3131	479	6	24	24	NUM
fsr-3131	479	7	,	,	PUNCT
fsr-3131	479	8	44–49	44–49	NUM
fsr-3131	479	9	.	.	PUNCT
fsr-3131	480	1	chang	chang	PROPN
fsr-3131	480	2	,	,	PUNCT
fsr-3131	480	3	c.	c.	PROPN
fsr-3131	480	4	e.	e.	PROPN
fsr-3131	480	5	,	,	PUNCT
fsr-3131	480	6	&	&	CCONJ
fsr-3131	480	7	krueger	krueger	PROPN
fsr-3131	480	8	,	,	PUNCT
fsr-3131	480	9	t.	t.	PROPN
fsr-3131	480	10	(	(	PUNCT
fsr-3131	480	11	2010	2010	NUM
fsr-3131	480	12	)	)	PUNCT
fsr-3131	480	13	.	.	PUNCT
fsr-3131	481	1	do	do	AUX
fsr-3131	481	2	enhanced	enhance	VERB
fsr-3131	481	3	index	index	NOUN
fsr-3131	481	4	funds	fund	NOUN
fsr-3131	481	5	live	live	VERB
fsr-3131	481	6	up	up	ADP
fsr-3131	481	7	to	to	ADP
fsr-3131	481	8	their	their	PRON
fsr-3131	481	9	name	name	NOUN
fsr-3131	481	10	?	?	PUNCT
fsr-3131	482	1	financial	financial	ADJ
fsr-3131	482	2	services	service	NOUN
fsr-3131	482	3	review	review	PROPN
fsr-3131	482	4	,	,	PUNCT
fsr-3131	482	5	19	19	NUM
fsr-3131	482	6	,	,	PUNCT
fsr-3131	482	7	145–162	145–162	NUM
fsr-3131	482	8	.	.	PUNCT
fsr-3131	483	1	chen	chen	PROPN
fsr-3131	483	2	,	,	PUNCT
fsr-3131	483	3	h.	h.	PROPN
fsr-3131	483	4	,	,	PUNCT
fsr-3131	483	5	&	&	CCONJ
fsr-3131	483	6	estes	estes	PROPN
fsr-3131	483	7	,	,	PUNCT
fsr-3131	483	8	j.	j.	PROPN
fsr-3131	483	9	(	(	PUNCT
fsr-3131	483	10	2010	2010	NUM
fsr-3131	483	11	)	)	PUNCT
fsr-3131	483	12	.	.	PUNCT
fsr-3131	484	1	a	a	DET
fsr-3131	484	2	monte	monte	PROPN
fsr-3131	484	3	carlo	carlo	PROPN
fsr-3131	484	4	study	study	NOUN
fsr-3131	484	5	of	of	ADP
fsr-3131	484	6	the	the	DET
fsr-3131	484	7	strategies	strategy	NOUN
fsr-3131	484	8	for	for	ADP
fsr-3131	484	9	401(k	401(k	NOUN
fsr-3131	484	10	)	)	PUNCT
fsr-3131	484	11	plans	plan	NOUN
fsr-3131	484	12	:	:	PUNCT
fsr-3131	484	13	dollar	dollar	NOUN
fsr-3131	484	14	-	-	PUNCT
fsr-3131	484	15	cost	cost	NOUN
fsr-3131	484	16	-	-	PUNCT
fsr-3131	484	17	averaging	averaging	NOUN
fsr-3131	484	18	,	,	PUNCT
fsr-3131	484	19	value	value	NOUN
fsr-3131	484	20	-	-	PUNCT
fsr-3131	484	21	averaging	averaging	NOUN
fsr-3131	484	22	,	,	PUNCT
fsr-3131	484	23	and	and	CCONJ
fsr-3131	484	24	proportional	proportional	ADJ
fsr-3131	484	25	rebalancing	rebalancing	NOUN
fsr-3131	484	26	.	.	PUNCT
fsr-3131	485	1	financial	financial	ADJ
fsr-3131	485	2	services	service	NOUN
fsr-3131	485	3	review	review	PROPN
fsr-3131	485	4	,	,	PUNCT
fsr-3131	485	5	19	19	NUM
fsr-3131	485	6	,	,	PUNCT
fsr-3131	485	7	95–109	95–109	PROPN
fsr-3131	485	8	.	.	PUNCT
fsr-3131	486	1	cheng	cheng	PROPN
fsr-3131	486	2	,	,	PUNCT
fsr-3131	486	3	m.	m.	NOUN
fsr-3131	486	4	,	,	PUNCT
fsr-3131	486	5	&	&	CCONJ
fsr-3131	486	6	madhavan	madhavan	PROPN
fsr-3131	486	7	,	,	PUNCT
fsr-3131	486	8	a.	a.	NOUN
fsr-3131	486	9	(	(	PUNCT
fsr-3131	486	10	2009	2009	NUM
fsr-3131	486	11	)	)	PUNCT
fsr-3131	486	12	.	.	PUNCT
fsr-3131	487	1	the	the	DET
fsr-3131	487	2	dynamics	dynamic	NOUN
fsr-3131	487	3	of	of	ADP
fsr-3131	487	4	leveraged	leveraged	ADJ
fsr-3131	487	5	and	and	CCONJ
fsr-3131	487	6	inverse	inverse	NOUN
fsr-3131	487	7	exchange	exchange	NOUN
fsr-3131	487	8	traded	trade	VERB
fsr-3131	487	9	funds	fund	NOUN
fsr-3131	487	10	.	.	PUNCT
fsr-3131	488	1	journal	journal	NOUN
fsr-3131	488	2	of	of	ADP
fsr-3131	488	3	investment	investment	NOUN
fsr-3131	488	4	management	management	NOUN
fsr-3131	488	5	,	,	PUNCT
fsr-3131	488	6	7	7	NUM
fsr-3131	488	7	,	,	PUNCT
fsr-3131	488	8	43–62	43–62	NUM
fsr-3131	488	9	.	.	PUNCT
fsr-3131	489	1	choi	choi	PROPN
fsr-3131	489	2	,	,	PUNCT
fsr-3131	489	3	d.	d.	PROPN
fsr-3131	489	4	,	,	PUNCT
fsr-3131	489	5	&	&	CCONJ
fsr-3131	489	6	elston	elston	PROPN
fsr-3131	489	7	,	,	PUNCT
fsr-3131	489	8	f.	f.	PROPN
fsr-3131	489	9	(	(	PUNCT
fsr-3131	489	10	2009	2009	NUM
fsr-3131	489	11	)	)	PUNCT
fsr-3131	489	12	.	.	PUNCT
fsr-3131	490	1	inverse	inverse	PROPN
fsr-3131	490	2	etfs	etfs	PROPN
fsr-3131	490	3	.	.	PUNCT
fsr-3131	491	1	in	in	ADP
fsr-3131	491	2	proceedings	proceeding	NOUN
fsr-3131	491	3	of	of	ADP
fsr-3131	491	4	the	the	DET
fsr-3131	491	5	academy	academy	NOUN
fsr-3131	491	6	of	of	ADP
fsr-3131	491	7	accounting	accounting	PROPN
fsr-3131	491	8	and	and	CCONJ
fsr-3131	491	9	financial	financial	ADJ
fsr-3131	491	10	studies	study	NOUN
fsr-3131	491	11	international	international	ADJ
fsr-3131	491	12	conference	conference	NOUN
fsr-3131	491	13	in	in	ADP
fsr-3131	491	14	new	new	PROPN
fsr-3131	491	15	orleans	orleans	PROPN
fsr-3131	491	16	,	,	PUNCT
fsr-3131	491	17	louisiana	louisiana	PROPN
fsr-3131	491	18	.	.	PUNCT
fsr-3131	492	1	allied	ally	VERB
fsr-3131	492	2	academies	academy	NOUN
fsr-3131	492	3	international	international	ADJ
fsr-3131	492	4	conference	conference	NOUN
fsr-3131	492	5	.	.	PUNCT
fsr-3131	493	1	retrieved	retrieve	VERB
fsr-3131	493	2	at	at	ADP
fsr-3131	493	3	alliedacademies.org/public/proceedings/proceedings24/aafs%20proceedings.pdf	alliedacademies.org/public/proceedings/proceedings24/aafs%20proceedings.pdf	PROPN
fsr-3131	493	4	davison	davison	PROPN
fsr-3131	493	5	,	,	PUNCT
fsr-3131	493	6	a.	a.	PROPN
fsr-3131	493	7	c.	c.	PROPN
fsr-3131	493	8	,	,	PUNCT
fsr-3131	493	9	&	&	CCONJ
fsr-3131	493	10	hinkley	hinkley	PROPN
fsr-3131	493	11	,	,	PUNCT
fsr-3131	493	12	d.	d.	PROPN
fsr-3131	493	13	v.	v.	PROPN
fsr-3131	493	14	(	(	PUNCT
fsr-3131	493	15	1993	1993	NUM
fsr-3131	493	16	)	)	PUNCT
fsr-3131	493	17	.	.	PUNCT
fsr-3131	494	1	bootstrap	bootstrap	NOUN
fsr-3131	494	2	methods	method	NOUN
fsr-3131	494	3	and	and	CCONJ
fsr-3131	494	4	their	their	PRON
fsr-3131	494	5	application	application	NOUN
fsr-3131	494	6	.	.	PUNCT
fsr-3131	495	1	new	new	PROPN
fsr-3131	495	2	york	york	PROPN
fsr-3131	495	3	,	,	PUNCT
fsr-3131	495	4	ny	ny	PROPN
fsr-3131	495	5	:	:	PUNCT
fsr-3131	495	6	cambridge	cambridge	PROPN
fsr-3131	495	7	series	series	PROPN
fsr-3131	495	8	in	in	ADP
fsr-3131	495	9	statistical	statistical	ADJ
fsr-3131	495	10	and	and	CCONJ
fsr-3131	495	11	probabilistic	probabilistic	ADJ
fsr-3131	495	12	mathematics	mathematic	NOUN
fsr-3131	495	13	.	.	PUNCT
fsr-3131	496	1	dilellio	dilellio	PROPN
fsr-3131	496	2	,	,	PUNCT
fsr-3131	496	3	j.	j.	PROPN
fsr-3131	496	4	a.	a.	PROPN
fsr-3131	496	5	,	,	PUNCT
fsr-3131	496	6	&	&	CCONJ
fsr-3131	496	7	stanley	stanley	PROPN
fsr-3131	496	8	,	,	PUNCT
fsr-3131	496	9	d.	d.	PROPN
fsr-3131	496	10	j.	j.	PROPN
fsr-3131	496	11	(	(	PUNCT
fsr-3131	496	12	2011	2011	NUM
fsr-3131	496	13	)	)	PUNCT
fsr-3131	496	14	.	.	PUNCT
fsr-3131	497	1	etf	etf	NOUN
fsr-3131	497	2	trading	trading	NOUN
fsr-3131	497	3	strategies	strategy	NOUN
fsr-3131	497	4	to	to	PART
fsr-3131	497	5	enhance	enhance	VERB
fsr-3131	497	6	client	client	NOUN
fsr-3131	497	7	wealth	wealth	NOUN
fsr-3131	497	8	maximization	maximization	NOUN
fsr-3131	497	9	.	.	PUNCT
fsr-3131	498	1	financial	financial	ADJ
fsr-3131	498	2	services	service	NOUN
fsr-3131	498	3	review	review	PROPN
fsr-3131	498	4	,	,	PUNCT
fsr-3131	498	5	20	20	NUM
fsr-3131	498	6	,	,	PUNCT
fsr-3131	498	7	145–163	145–163	NUM
fsr-3131	498	8	.	.	PUNCT
fsr-3131	499	1	efron	efron	PROPN
fsr-3131	499	2	,	,	PUNCT
fsr-3131	499	3	b.	b.	PROPN
fsr-3131	499	4	,	,	PUNCT
fsr-3131	499	5	&	&	CCONJ
fsr-3131	499	6	tibshirani	tibshirani	PROPN
fsr-3131	499	7	,	,	PUNCT
fsr-3131	499	8	r.	r.	PROPN
fsr-3131	499	9	(	(	PUNCT
fsr-3131	499	10	1993	1993	NUM
fsr-3131	499	11	)	)	PUNCT
fsr-3131	499	12	.	.	PUNCT
fsr-3131	500	1	an	an	DET
fsr-3131	500	2	introduction	introduction	NOUN
fsr-3131	500	3	to	to	ADP
fsr-3131	500	4	the	the	DET
fsr-3131	500	5	bootstrap	bootstrap	NOUN
fsr-3131	500	6	.	.	PUNCT
fsr-3131	501	1	boca	boca	PROPN
fsr-3131	501	2	raton	raton	PROPN
fsr-3131	501	3	,	,	PUNCT
fsr-3131	501	4	fl	fl	PROPN
fsr-3131	501	5	:	:	PUNCT
fsr-3131	501	6	chapman	chapman	NOUN
fsr-3131	501	7	and	and	CCONJ
fsr-3131	501	8	hall	hall	PROPN
fsr-3131	501	9	/	/	SYM
fsr-3131	501	10	crc	crc	PROPN
fsr-3131	501	11	.	.	PUNCT
fsr-3131	502	1	ervin	ervin	PROPN
fsr-3131	502	2	,	,	PUNCT
fsr-3131	502	3	d.	d.	PROPN
fsr-3131	502	4	,	,	PUNCT
fsr-3131	502	5	faulk	faulk	PROPN
fsr-3131	502	6	,	,	PUNCT
fsr-3131	502	7	g.	g.	PROPN
fsr-3131	502	8	,	,	PUNCT
fsr-3131	502	9	&	&	CCONJ
fsr-3131	502	10	smolira	smolira	PROPN
fsr-3131	502	11	,	,	PUNCT
fsr-3131	502	12	j.	j.	PROPN
fsr-3131	502	13	(	(	PUNCT
fsr-3131	502	14	2009	2009	NUM
fsr-3131	502	15	)	)	PUNCT
fsr-3131	502	16	.	.	PUNCT
fsr-3131	503	1	the	the	DET
fsr-3131	503	2	impact	impact	NOUN
fsr-3131	503	3	of	of	ADP
fsr-3131	503	4	asset	asset	NOUN
fsr-3131	503	5	allocation	allocation	NOUN
fsr-3131	503	6	,	,	PUNCT
fsr-3131	503	7	savings	saving	NOUN
fsr-3131	503	8	,	,	PUNCT
fsr-3131	503	9	and	and	CCONJ
fsr-3131	503	10	retirement	retirement	NOUN
fsr-3131	503	11	horizon	horizon	NOUN
fsr-3131	503	12	,	,	PUNCT
fsr-3131	503	13	saving	save	VERB
fsr-3131	503	14	rates	rate	NOUN
fsr-3131	503	15	,	,	PUNCT
fsr-3131	503	16	and	and	CCONJ
fsr-3131	503	17	social	social	ADJ
fsr-3131	503	18	security	security	NOUN
fsr-3131	503	19	income	income	NOUN
fsr-3131	503	20	in	in	ADP
fsr-3131	503	21	retirement	retirement	NOUN
fsr-3131	503	22	planning	planning	NOUN
fsr-3131	503	23	:	:	PUNCT
fsr-3131	503	24	a	a	DET
fsr-3131	503	25	monte	monte	PROPN
fsr-3131	503	26	carlo	carlo	PROPN
fsr-3131	503	27	analysis	analysis	NOUN
fsr-3131	503	28	.	.	PUNCT
fsr-3131	504	1	financial	financial	ADJ
fsr-3131	504	2	services	service	NOUN
fsr-3131	504	3	review	review	PROPN
fsr-3131	504	4	,	,	PUNCT
fsr-3131	504	5	18	18	NUM
fsr-3131	504	6	,	,	PUNCT
fsr-3131	504	7	313–331	313–331	NUM
fsr-3131	504	8	.	.	PUNCT
fsr-3131	505	1	fama	fama	PROPN
fsr-3131	505	2	,	,	PUNCT
fsr-3131	505	3	e.	e.	PROPN
fsr-3131	505	4	(	(	PUNCT
fsr-3131	505	5	1965	1965	NUM
fsr-3131	505	6	)	)	PUNCT
fsr-3131	505	7	.	.	PUNCT
fsr-3131	506	1	random	random	ADJ
fsr-3131	506	2	walks	walk	NOUN
fsr-3131	506	3	in	in	ADP
fsr-3131	506	4	stock	stock	NOUN
fsr-3131	506	5	-	-	PUNCT
fsr-3131	506	6	market	market	NOUN
fsr-3131	506	7	prices	price	NOUN
fsr-3131	506	8	.	.	PUNCT
fsr-3131	507	1	selected	select	VERB
fsr-3131	507	2	papers	paper	NOUN
fsr-3131	507	3	no	no	INTJ
fsr-3131	507	4	.	.	NOUN
fsr-3131	507	5	16	16	NUM
fsr-3131	507	6	,	,	PUNCT
fsr-3131	507	7	booth	booth	NOUN
fsr-3131	507	8	school	school	NOUN
fsr-3131	507	9	of	of	ADP
fsr-3131	507	10	economics	economic	NOUN
fsr-3131	507	11	,	,	PUNCT
fsr-3131	507	12	university	university	NOUN
fsr-3131	507	13	of	of	ADP
fsr-3131	507	14	chicago	chicago	PROPN
fsr-3131	507	15	,	,	PUNCT
fsr-3131	507	16	p.	p.	NOUN
fsr-3131	507	17	7	7	NUM
fsr-3131	507	18	.	.	PUNCT
fsr-3131	507	19	retrieved	retrieve	VERB
fsr-3131	507	20	at	at	ADP
fsr-3131	507	21	http://www.chicagobooth.edu/�/media/34f68ffd9cc04ef1a	http://www.chicagobooth.edu/�/media/34f68ffd9cc04ef1a	PROPN
fsr-3131	507	22	76901f6c61c0a76.pdf	76901f6c61c0a76.pdf	NUM
fsr-3131	507	23	gerasimos	gerasimos	PROPN
fsr-3131	507	24	g.	g.	PROPN
fsr-3131	507	25	r.	r.	PROPN
fsr-3131	507	26	(	(	PUNCT
fsr-3131	507	27	2011	2011	NUM
fsr-3131	507	28	)	)	PUNCT
fsr-3131	507	29	.	.	PUNCT
fsr-3131	508	1	a	a	DET
fsr-3131	508	2	study	study	NOUN
fsr-3131	508	3	on	on	ADP
fsr-3131	508	4	the	the	DET
fsr-3131	508	5	third	third	ADV
fsr-3131	508	6	-	-	PUNCT
fsr-3131	508	7	generated	generate	VERB
fsr-3131	508	8	exchange	exchange	NOUN
fsr-3131	508	9	traded	trade	VERB
fsr-3131	508	10	funds	fund	NOUN
fsr-3131	508	11	:	:	PUNCT
fsr-3131	508	12	the	the	DET
fsr-3131	508	13	case	case	NOUN
fsr-3131	508	14	of	of	ADP
fsr-3131	508	15	short	short	ADJ
fsr-3131	508	16	etfs	etfs	PROPN
fsr-3131	508	17	.	.	PUNCT
fsr-3131	509	1	the	the	DET
fsr-3131	509	2	journal	journal	PROPN
fsr-3131	509	3	of	of	ADP
fsr-3131	509	4	index	index	NOUN
fsr-3131	509	5	investing	investing	NOUN
fsr-3131	509	6	,	,	PUNCT
fsr-3131	509	7	2	2	NUM
fsr-3131	509	8	,	,	PUNCT
fsr-3131	509	9	25–43	25–43	NUM
fsr-3131	509	10	.	.	PUNCT
fsr-3131	509	11	giese	giese	PROPN
fsr-3131	509	12	,	,	PUNCT
fsr-3131	509	13	g.	g.	PROPN
fsr-3131	509	14	(	(	PUNCT
fsr-3131	509	15	2010	2010	NUM
fsr-3131	509	16	)	)	PUNCT
fsr-3131	509	17	.	.	PUNCT
fsr-3131	510	1	on	on	ADP
fsr-3131	510	2	the	the	DET
fsr-3131	510	3	risk	risk	NOUN
fsr-3131	510	4	-	-	PUNCT
fsr-3131	510	5	return	return	NOUN
fsr-3131	510	6	profile	profile	NOUN
fsr-3131	510	7	of	of	ADP
fsr-3131	510	8	leveraged	leveraged	ADJ
fsr-3131	510	9	and	and	CCONJ
fsr-3131	510	10	inverse	inverse	NOUN
fsr-3131	510	11	etfs	etfs	PROPN
fsr-3131	510	12	.	.	PUNCT
fsr-3131	511	1	journal	journal	PROPN
fsr-3131	511	2	of	of	ADP
fsr-3131	511	3	asset	asset	NOUN
fsr-3131	511	4	management	management	NOUN
fsr-3131	511	5	,	,	PUNCT
fsr-3131	511	6	11	11	NUM
fsr-3131	511	7	,	,	PUNCT
fsr-3131	511	8	219–228	219–228	NUM
fsr-3131	511	9	.	.	PUNCT
fsr-3131	512	1	guedj	guedj	PROPN
fsr-3131	512	2	,	,	PUNCT
fsr-3131	512	3	i.	i.	PROPN
fsr-3131	512	4	,	,	PUNCT
fsr-3131	512	5	guohua	guohua	PROPN
fsr-3131	512	6	,	,	PUNCT
fsr-3131	512	7	l.	l.	PROPN
fsr-3131	512	8	,	,	PUNCT
fsr-3131	512	9	&	&	CCONJ
fsr-3131	512	10	mccann	mccann	PROPN
fsr-3131	512	11	,	,	PUNCT
fsr-3131	512	12	c	c	PROPN
fsr-3131	512	13	..	..	PUNCT
fsr-3131	512	14	(	(	PUNCT
fsr-3131	512	15	2010	2010	NUM
fsr-3131	512	16	)	)	PUNCT
fsr-3131	512	17	.	.	PUNCT
fsr-3131	513	1	leveraged	leveraged	ADJ
fsr-3131	513	2	and	and	CCONJ
fsr-3131	513	3	inverse	inverse	NOUN
fsr-3131	513	4	etfs	etfs	NOUN
fsr-3131	513	5	,	,	PUNCT
fsr-3131	513	6	holding	hold	VERB
fsr-3131	513	7	periods	period	NOUN
fsr-3131	513	8	,	,	PUNCT
fsr-3131	513	9	and	and	CCONJ
fsr-3131	513	10	investment	investment	NOUN
fsr-3131	513	11	shortfalls	shortfall	NOUN
fsr-3131	513	12	.	.	PUNCT
fsr-3131	514	1	journal	journal	NOUN
fsr-3131	514	2	of	of	ADP
fsr-3131	514	3	index	index	NOUN
fsr-3131	514	4	investing	investing	NOUN
fsr-3131	514	5	,	,	PUNCT
fsr-3131	514	6	1	1	NUM
fsr-3131	514	7	,	,	PUNCT
fsr-3131	514	8	45–57	45–57	NUM
fsr-3131	514	9	.	.	PUNCT
fsr-3131	515	1	appendix	appendix	NOUN
fsr-3131	515	2	step	step	NOUN
fsr-3131	515	3	simulation	simulation	NOUN
fsr-3131	515	4	process	process	NOUN
fsr-3131	515	5	1	1	NUM
fsr-3131	515	6	assign	assign	VERB
fsr-3131	515	7	a	a	DET
fsr-3131	515	8	numerical	numerical	ADJ
fsr-3131	515	9	index	index	NOUN
fsr-3131	515	10	of	of	ADP
fsr-3131	515	11	1	1	NUM
fsr-3131	515	12	to	to	ADP
fsr-3131	515	13	n	n	PROPN
fsr-3131	515	14	for	for	ADP
fsr-3131	515	15	each	each	PRON
fsr-3131	515	16	of	of	ADP
fsr-3131	515	17	the	the	DET
fsr-3131	515	18	daily	daily	ADJ
fsr-3131	515	19	returns	return	NOUN
fsr-3131	515	20	observed	observe	VERB
fsr-3131	515	21	in	in	ADP
fsr-3131	515	22	the	the	DET
fsr-3131	515	23	historical	historical	ADJ
fsr-3131	515	24	10	10	NUM
fsr-3131	515	25	-	-	PUNCT
fsr-3131	515	26	year	year	NOUN
fsr-3131	515	27	period	period	NOUN
fsr-3131	515	28	.	.	PUNCT
fsr-3131	516	1	2	2	NUM
fsr-3131	516	2	for	for	ADP
fsr-3131	516	3	each	each	DET
fsr-3131	516	4	day	day	NOUN
fsr-3131	516	5	,	,	PUNCT
fsr-3131	516	6	determine	determine	VERB
fsr-3131	516	7	the	the	DET
fsr-3131	516	8	cumulative	cumulative	ADJ
fsr-3131	516	9	return	return	NOUN
fsr-3131	516	10	up	up	ADP
fsr-3131	516	11	to	to	ADP
fsr-3131	516	12	and	and	CCONJ
fsr-3131	516	13	including	include	VERB
fsr-3131	516	14	the	the	DET
fsr-3131	516	15	previous	previous	ADJ
fsr-3131	516	16	20	20	NUM
fsr-3131	516	17	days	day	NOUN
fsr-3131	516	18	,	,	PUNCT
fsr-3131	516	19	so	so	SCONJ
fsr-3131	516	20	that	that	SCONJ
fsr-3131	516	21	the	the	DET
fsr-3131	516	22	accumulated	accumulate	VERB
fsr-3131	516	23	returns	return	NOUN
fsr-3131	516	24	from	from	ADP
fsr-3131	516	25	these	these	DET
fsr-3131	516	26	days	day	NOUN
fsr-3131	516	27	are	be	AUX
fsr-3131	516	28	representative	representative	ADJ
fsr-3131	516	29	of	of	ADP
fsr-3131	516	30	the	the	DET
fsr-3131	516	31	distribution	distribution	NOUN
fsr-3131	516	32	of	of	ADP
fsr-3131	516	33	monthly	monthly	ADJ
fsr-3131	516	34	returns	return	NOUN
fsr-3131	516	35	.	.	PUNCT
fsr-3131	517	1	3	3	NUM
fsr-3131	517	2	generate	generate	VERB
fsr-3131	517	3	120	120	NUM
fsr-3131	517	4	random	random	ADJ
fsr-3131	517	5	numbers	number	NOUN
fsr-3131	517	6	ranging	range	VERB
fsr-3131	517	7	from	from	ADP
fsr-3131	517	8	1	1	NUM
fsr-3131	517	9	to	to	PART
fsr-3131	517	10	n.	n.	VERB
fsr-3131	517	11	4	4	NUM
fsr-3131	517	12	select	select	ADJ
fsr-3131	517	13	returns	return	NOUN
fsr-3131	517	14	from	from	ADP
fsr-3131	517	15	the	the	DET
fsr-3131	517	16	distribution	distribution	NOUN
fsr-3131	517	17	of	of	ADP
fsr-3131	517	18	representative	representative	ADJ
fsr-3131	517	19	monthly	monthly	ADJ
fsr-3131	517	20	returns	return	NOUN
fsr-3131	517	21	determined	determine	VERB
fsr-3131	517	22	in	in	ADP
fsr-3131	517	23	step	step	NOUN
fsr-3131	517	24	2	2	NUM
fsr-3131	517	25	using	use	VERB
fsr-3131	517	26	the	the	DET
fsr-3131	517	27	random	random	ADJ
fsr-3131	517	28	numbers	number	NOUN
fsr-3131	517	29	found	find	VERB
fsr-3131	517	30	in	in	ADP
fsr-3131	517	31	step	step	NOUN
fsr-3131	517	32	3	3	NUM
fsr-3131	517	33	,	,	PUNCT
fsr-3131	517	34	and	and	CCONJ
fsr-3131	517	35	generate	generate	VERB
fsr-3131	517	36	10	10	NUM
fsr-3131	517	37	years	year	NOUN
fsr-3131	517	38	of	of	ADP
fsr-3131	517	39	monthly	monthly	ADJ
fsr-3131	517	40	returns	return	NOUN
fsr-3131	517	41	.	.	PUNCT
fsr-3131	518	1	use	use	VERB
fsr-3131	518	2	the	the	DET
fsr-3131	518	3	same	same	ADJ
fsr-3131	518	4	set	set	NOUN
fsr-3131	518	5	of	of	ADP
fsr-3131	518	6	random	random	ADJ
fsr-3131	518	7	numbers	number	NOUN
fsr-3131	518	8	for	for	ADP
fsr-3131	518	9	each	each	DET
fsr-3131	518	10	trial	trial	NOUN
fsr-3131	518	11	to	to	PART
fsr-3131	518	12	select	select	VERB
fsr-3131	518	13	monthly	monthly	ADJ
fsr-3131	518	14	returns	return	NOUN
fsr-3131	518	15	from	from	ADP
fsr-3131	518	16	each	each	PRON
fsr-3131	518	17	of	of	ADP
fsr-3131	518	18	investment	investment	NOUN
fsr-3131	518	19	category	category	NOUN
fsr-3131	518	20	,	,	PUNCT
fsr-3131	518	21	ensuring	ensure	VERB
fsr-3131	518	22	that	that	SCONJ
fsr-3131	518	23	the	the	DET
fsr-3131	518	24	historical	historical	ADJ
fsr-3131	518	25	correlation	correlation	NOUN
fsr-3131	518	26	among	among	ADP
fsr-3131	518	27	assets	asset	NOUN
fsr-3131	518	28	is	be	AUX
fsr-3131	518	29	preserved.4	preserved.4	PROPN
fsr-3131	518	30	5	5	NUM
fsr-3131	518	31	repeat	repeat	NOUN
fsr-3131	518	32	for	for	ADP
fsr-3131	518	33	100,000	100,000	NUM
fsr-3131	518	34	trials	trial	NOUN
fsr-3131	518	35	,	,	PUNCT
fsr-3131	518	36	collecting	collect	VERB
fsr-3131	518	37	terminal	terminal	ADJ
fsr-3131	518	38	wealth	wealth	NOUN
fsr-3131	518	39	and	and	CCONJ
fsr-3131	518	40	sharpe	sharpe	PROPN
fsr-3131	518	41	ratio	ratio	NOUN
fsr-3131	518	42	for	for	ADP
fsr-3131	518	43	each	each	DET
fsr-3131	518	44	trial	trial	NOUN
fsr-3131	518	45	.	.	PUNCT
fsr-3131	519	1	6	6	NUM
fsr-3131	519	2	determine	determine	NOUN
fsr-3131	519	3	mean	mean	NOUN
fsr-3131	519	4	,	,	PUNCT
fsr-3131	519	5	standard	standard	ADJ
fsr-3131	519	6	deviation	deviation	NOUN
fsr-3131	519	7	,	,	PUNCT
fsr-3131	519	8	and	and	CCONJ
fsr-3131	519	9	coefficient	coefficient	NOUN
fsr-3131	519	10	of	of	ADP
fsr-3131	519	11	variation	variation	NOUN
fsr-3131	519	12	in	in	ADP
fsr-3131	519	13	terminal	terminal	ADJ
fsr-3131	519	14	wealth	wealth	NOUN
fsr-3131	519	15	and	and	CCONJ
fsr-3131	519	16	sharpe	sharpe	PROPN
fsr-3131	519	17	ratios	ratio	NOUN
fsr-3131	519	18	found	find	VERB
fsr-3131	519	19	from	from	ADP
fsr-3131	519	20	each	each	PRON
fsr-3131	519	21	of	of	ADP
fsr-3131	519	22	the	the	DET
fsr-3131	519	23	100,000	100,000	NUM
fsr-3131	519	24	trials	trial	NOUN
fsr-3131	519	25	generated	generate	VERB
fsr-3131	519	26	in	in	ADP
fsr-3131	519	27	step	step	NOUN
fsr-3131	519	28	5	5	NUM
fsr-3131	519	29	.	.	NOUN
fsr-3131	519	30	148	148	NUM
fsr-3131	519	31	j.a	j.a	PROPN
fsr-3131	519	32	.	.	PROPN
fsr-3131	519	33	dilellio	dilellio	PROPN
fsr-3131	519	34	,	,	PUNCT
fsr-3131	519	35	r.	r.	PROPN
fsr-3131	519	36	hesse	hesse	PROPN
fsr-3131	519	37	,	,	PUNCT
fsr-3131	519	38	d.j	d.j	PROPN
fsr-3131	519	39	.	.	PROPN
fsr-3131	519	40	stanley	stanley	PROPN
fsr-3131	519	41	/	/	SYM
fsr-3131	519	42	financial	financial	ADJ
fsr-3131	519	43	services	service	NOUN
fsr-3131	519	44	review	review	VERB
fsr-3131	519	45	23	23	NUM
fsr-3131	519	46	(	(	PUNCT
fsr-3131	519	47	2014	2014	NUM
fsr-3131	519	48	)	)	PUNCT
fsr-3131	519	49	123–149	123–149	NUM
fsr-3131	519	50	hight	hight	NOUN
fsr-3131	519	51	,	,	PUNCT
fsr-3131	519	52	g.	g.	PROPN
fsr-3131	519	53	n.	n.	PROPN
fsr-3131	519	54	(	(	PUNCT
fsr-3131	519	55	2010	2010	NUM
fsr-3131	519	56	)	)	PUNCT
fsr-3131	519	57	.	.	PUNCT
fsr-3131	520	1	diversification	diversification	NOUN
fsr-3131	520	2	effect	effect	NOUN
fsr-3131	520	3	:	:	PUNCT
fsr-3131	520	4	isolating	isolate	VERB
fsr-3131	520	5	the	the	DET
fsr-3131	520	6	effect	effect	NOUN
fsr-3131	520	7	of	of	ADP
fsr-3131	520	8	correlation	correlation	NOUN
fsr-3131	520	9	on	on	ADP
fsr-3131	520	10	portfolio	portfolio	NOUN
fsr-3131	520	11	risk	risk	NOUN
fsr-3131	520	12	.	.	PUNCT
fsr-3131	521	1	journal	journal	NOUN
fsr-3131	521	2	of	of	ADP
fsr-3131	521	3	financial	financial	ADJ
fsr-3131	521	4	planning	planning	NOUN
fsr-3131	521	5	,	,	PUNCT
fsr-3131	521	6	23	23	NUM
fsr-3131	521	7	,	,	PUNCT
fsr-3131	521	8	54–61	54–61	NUM
fsr-3131	521	9	.	.	PUNCT
fsr-3131	522	1	johnston	johnston	PROPN
fsr-3131	522	2	,	,	PUNCT
fsr-3131	522	3	k.	k.	PROPN
fsr-3131	522	4	,	,	PUNCT
fsr-3131	522	5	hatem	hatem	PROPN
fsr-3131	522	6	,	,	PUNCT
fsr-3131	522	7	j.	j.	PROPN
fsr-3131	522	8	,	,	PUNCT
fsr-3131	522	9	&	&	CCONJ
fsr-3131	522	10	scott	scott	PROPN
fsr-3131	522	11	,	,	PUNCT
fsr-3131	522	12	e.	e.	PROPN
fsr-3131	522	13	(	(	PUNCT
fsr-3131	522	14	2013	2013	NUM
fsr-3131	522	15	)	)	PUNCT
fsr-3131	522	16	.	.	PUNCT
fsr-3131	523	1	individual	individual	ADJ
fsr-3131	523	2	investors	investor	NOUN
fsr-3131	523	3	:	:	PUNCT
fsr-3131	523	4	asset	asset	NOUN
fsr-3131	523	5	allocation	allocation	NOUN
fsr-3131	523	6	vs.	vs.	ADP
fsr-3131	523	7	portfolio	portfolio	NOUN
fsr-3131	523	8	insurance	insurance	NOUN
fsr-3131	523	9	(	(	PUNCT
fsr-3131	523	10	puts	put	NOUN
fsr-3131	523	11	or	or	CCONJ
fsr-3131	523	12	calls	call	NOUN
fsr-3131	523	13	)	)	PUNCT
fsr-3131	523	14	.	.	PUNCT
fsr-3131	524	1	financial	financial	ADJ
fsr-3131	524	2	services	services	PROPN
fsr-3131	524	3	review	review	PROPN
fsr-3131	524	4	,	,	PUNCT
fsr-3131	524	5	22	22	NUM
fsr-3131	524	6	,	,	PUNCT
fsr-3131	524	7	291–310	291–310	NUM
fsr-3131	524	8	.	.	PUNCT
fsr-3131	525	1	jones	jones	PROPN
fsr-3131	525	2	,	,	PUNCT
fsr-3131	525	3	r.	r.	PROPN
fsr-3131	525	4	c.	c.	PROPN
fsr-3131	525	5	,	,	PUNCT
fsr-3131	525	6	&	&	CCONJ
fsr-3131	525	7	wermers	wermers	PROPN
fsr-3131	525	8	,	,	PUNCT
fsr-3131	525	9	r.	r.	PROPN
fsr-3131	525	10	(	(	PUNCT
fsr-3131	525	11	2011	2011	NUM
fsr-3131	525	12	)	)	PUNCT
fsr-3131	525	13	.	.	PUNCT
fsr-3131	526	1	active	active	ADJ
fsr-3131	526	2	management	management	NOUN
fsr-3131	526	3	in	in	ADP
fsr-3131	526	4	mostly	mostly	ADV
fsr-3131	526	5	efficient	efficient	ADJ
fsr-3131	526	6	markets	market	NOUN
fsr-3131	526	7	.	.	PUNCT
fsr-3131	527	1	financial	financial	ADJ
fsr-3131	527	2	analysts	analyst	NOUN
fsr-3131	527	3	journal	journal	NOUN
fsr-3131	527	4	,	,	PUNCT
fsr-3131	527	5	67	67	NUM
fsr-3131	527	6	,	,	PUNCT
fsr-3131	527	7	29–45	29–45	NUM
fsr-3131	527	8	.	.	PUNCT
fsr-3131	528	1	lu	lu	PROPN
fsr-3131	528	2	,	,	PUNCT
fsr-3131	528	3	l.	l.	PROPN
fsr-3131	528	4	,	,	PUNCT
fsr-3131	528	5	wang	wang	PROPN
fsr-3131	528	6	,	,	PUNCT
fsr-3131	528	7	j.	j.	PROPN
fsr-3131	528	8	,	,	PUNCT
fsr-3131	528	9	&	&	CCONJ
fsr-3131	528	10	zhang	zhang	PROPN
fsr-3131	528	11	,	,	PUNCT
fsr-3131	528	12	ge	ge	PROPN
fsr-3131	528	13	.	.	PUNCT
fsr-3131	528	14	(	(	PUNCT
fsr-3131	528	15	2012	2012	NUM
fsr-3131	528	16	)	)	PUNCT
fsr-3131	528	17	.	.	PUNCT
fsr-3131	529	1	long	long	ADJ
fsr-3131	529	2	term	term	NOUN
fsr-3131	529	3	performance	performance	NOUN
fsr-3131	529	4	of	of	ADP
fsr-3131	529	5	leveraged	leveraged	ADJ
fsr-3131	529	6	etfs	etfs	NOUN
fsr-3131	529	7	.	.	PUNCT
fsr-3131	530	1	financial	financial	ADJ
fsr-3131	530	2	services	services	PROPN
fsr-3131	530	3	review	review	PROPN
fsr-3131	530	4	,	,	PUNCT
fsr-3131	530	5	21	21	NUM
fsr-3131	530	6	,	,	PUNCT
fsr-3131	530	7	63–80	63–80	PROPN
fsr-3131	530	8	.	.	PUNCT
fsr-3131	531	1	mulvey	mulvey	PROPN
fsr-3131	531	2	,	,	PUNCT
fsr-3131	531	3	j.	j.	PROPN
fsr-3131	531	4	m.	m.	PROPN
fsr-3131	531	5	,	,	PUNCT
fsr-3131	531	6	ural	ural	PROPN
fsr-3131	531	7	,	,	PUNCT
fsr-3131	531	8	c.	c.	PROPN
fsr-3131	531	9	,	,	PUNCT
fsr-3131	531	10	&	&	CCONJ
fsr-3131	531	11	zhang	zhang	PROPN
fsr-3131	531	12	,	,	PUNCT
fsr-3131	531	13	z.	z.	PROPN
fsr-3131	531	14	(	(	PUNCT
fsr-3131	531	15	2007	2007	NUM
fsr-3131	531	16	)	)	PUNCT
fsr-3131	531	17	.	.	PUNCT
fsr-3131	532	1	improving	improve	VERB
fsr-3131	532	2	performance	performance	NOUN
fsr-3131	532	3	for	for	ADP
fsr-3131	532	4	long	long	ADJ
fsr-3131	532	5	-	-	PUNCT
fsr-3131	532	6	term	term	NOUN
fsr-3131	532	7	investors	investor	NOUN
fsr-3131	532	8	:	:	PUNCT
fsr-3131	532	9	wide	wide	ADJ
fsr-3131	532	10	diversification	diversification	NOUN
fsr-3131	532	11	,	,	PUNCT
fsr-3131	532	12	leverage	leverage	NOUN
fsr-3131	532	13	,	,	PUNCT
fsr-3131	532	14	and	and	CCONJ
fsr-3131	532	15	overlay	overlay	NOUN
fsr-3131	532	16	strategies	strategy	NOUN
fsr-3131	532	17	.	.	PUNCT
fsr-3131	533	1	quantitative	quantitative	ADJ
fsr-3131	533	2	finance	finance	NOUN
fsr-3131	533	3	,	,	PUNCT
fsr-3131	533	4	7	7	NUM
fsr-3131	533	5	,	,	PUNCT
fsr-3131	533	6	175–187	175–187	NUM
fsr-3131	533	7	.	.	PUNCT
fsr-3131	534	1	pfau	pfau	NOUN
fsr-3131	534	2	,	,	PUNCT
fsr-3131	534	3	w.	w.	PROPN
fsr-3131	534	4	d.	d.	PROPN
fsr-3131	534	5	(	(	PUNCT
fsr-3131	534	6	2010	2010	NUM
fsr-3131	534	7	)	)	PUNCT
fsr-3131	534	8	.	.	PUNCT
fsr-3131	535	1	lifecycle	lifecycle	NOUN
fsr-3131	535	2	funds	fund	NOUN
fsr-3131	535	3	and	and	CCONJ
fsr-3131	535	4	wealth	wealth	NOUN
fsr-3131	535	5	accumulation	accumulation	NOUN
fsr-3131	535	6	for	for	ADP
fsr-3131	535	7	retirement	retirement	NOUN
fsr-3131	535	8	:	:	PUNCT
fsr-3131	535	9	evidence	evidence	NOUN
fsr-3131	535	10	for	for	ADP
fsr-3131	535	11	a	a	DET
fsr-3131	535	12	more	more	ADV
fsr-3131	535	13	conservative	conservative	ADJ
fsr-3131	535	14	asset	asset	NOUN
fsr-3131	535	15	allocation	allocation	NOUN
fsr-3131	535	16	as	as	ADP
fsr-3131	535	17	retirement	retirement	NOUN
fsr-3131	535	18	approaches	approach	NOUN
fsr-3131	535	19	.	.	PUNCT
fsr-3131	536	1	financial	financial	ADJ
fsr-3131	536	2	services	service	NOUN
fsr-3131	536	3	review	review	PROPN
fsr-3131	536	4	,	,	PUNCT
fsr-3131	536	5	19	19	NUM
fsr-3131	536	6	,	,	PUNCT
fsr-3131	536	7	59–74	59–74	NUM
fsr-3131	536	8	.	.	PUNCT
fsr-3131	537	1	sharpe	sharpe	PROPN
fsr-3131	537	2	,	,	PUNCT
fsr-3131	537	3	w.	w.	PROPN
fsr-3131	537	4	f.	f.	PROPN
fsr-3131	537	5	(	(	PUNCT
fsr-3131	537	6	1994	1994	NUM
fsr-3131	537	7	)	)	PUNCT
fsr-3131	537	8	.	.	PUNCT
fsr-3131	538	1	the	the	DET
fsr-3131	538	2	sharpe	sharpe	PROPN
fsr-3131	538	3	ratio	ratio	PROPN
fsr-3131	538	4	.	.	PUNCT
fsr-3131	539	1	journal	journal	PROPN
fsr-3131	539	2	of	of	ADP
fsr-3131	539	3	portfolio	portfolio	PROPN
fsr-3131	539	4	management	management	NOUN
fsr-3131	539	5	,	,	PUNCT
fsr-3131	539	6	21	21	NUM
fsr-3131	539	7	,	,	PUNCT
fsr-3131	539	8	49–59	49–59	NOUN
fsr-3131	539	9	.	.	PUNCT
fsr-3131	540	1	trainor	trainor	PROPN
fsr-3131	540	2	,	,	PUNCT
fsr-3131	540	3	w.	w.	PROPN
fsr-3131	540	4	j.	j.	PROPN
fsr-3131	540	5	,	,	PUNCT
fsr-3131	540	6	&	&	CCONJ
fsr-3131	540	7	baryla	baryla	PROPN
fsr-3131	540	8	,	,	PUNCT
fsr-3131	540	9	e.	e.	PROPN
fsr-3131	540	10	a.	a.	PROPN
fsr-3131	540	11	(	(	PUNCT
fsr-3131	540	12	2008	2008	NUM
fsr-3131	540	13	)	)	PUNCT
fsr-3131	540	14	.	.	PUNCT
fsr-3131	541	1	leveraged	leveraged	ADJ
fsr-3131	541	2	etfs	etfs	NOUN
fsr-3131	541	3	:	:	PUNCT
fsr-3131	541	4	a	a	DET
fsr-3131	541	5	risky	risky	ADJ
fsr-3131	541	6	double	double	NOUN
fsr-3131	541	7	that	that	PRON
fsr-3131	541	8	does	do	AUX
fsr-3131	541	9	n’t	not	PART
fsr-3131	541	10	multiply	multiply	VERB
fsr-3131	541	11	by	by	ADP
fsr-3131	541	12	two	two	NUM
fsr-3131	541	13	.	.	PUNCT
fsr-3131	542	1	journal	journal	NOUN
fsr-3131	542	2	of	of	ADP
fsr-3131	542	3	financial	financial	ADJ
fsr-3131	542	4	planning	planning	NOUN
fsr-3131	542	5	,	,	PUNCT
fsr-3131	542	6	21	21	NUM
fsr-3131	542	7	,	,	PUNCT
fsr-3131	542	8	48–55	48–55	NUM
fsr-3131	542	9	.	.	PUNCT
fsr-3131	543	1	149j.a	149j.a	X
fsr-3131	543	2	.	.	PUNCT
fsr-3131	543	3	dilellio	dilellio	PROPN
fsr-3131	543	4	,	,	PUNCT
fsr-3131	543	5	r.	r.	PROPN
fsr-3131	543	6	hesse	hesse	PROPN
fsr-3131	543	7	,	,	PUNCT
fsr-3131	543	8	d.j	d.j	PROPN
fsr-3131	543	9	.	.	PROPN
fsr-3131	543	10	stanley	stanley	PROPN
fsr-3131	543	11	/	/	SYM
fsr-3131	543	12	financial	financial	ADJ
fsr-3131	543	13	services	service	NOUN
fsr-3131	543	14	review	review	VERB
fsr-3131	543	15	23	23	NUM
fsr-3131	543	16	(	(	PUNCT
fsr-3131	543	17	2014	2014	NUM
fsr-3131	543	18	)	)	PUNCT
fsr-3131	543	19	123–149	123–149	NUM