id	sid	tid	token	lemma	pos
fsr-3924	1	1	pii	pii	PROPN
fsr-3924	1	2	:	:	PUNCT
fsr-3924	1	3	s1057	s1057	NOUN
fsr-3924	1	4	-	-	PUNCT
fsr-3924	1	5	0810(01)00068	0810(01)00068	NUM
fsr-3924	1	6	-	-	PUNCT
fsr-3924	1	7	3	3	NUM
fsr-3924	1	8	exploitable	exploitable	ADJ
fsr-3924	1	9	patterns	pattern	NOUN
fsr-3924	1	10	in	in	ADP
fsr-3924	1	11	retirement	retirement	NOUN
fsr-3924	1	12	annuity	annuity	NOUN
fsr-3924	1	13	returns	return	NOUN
fsr-3924	1	14	:	:	PUNCT
fsr-3924	1	15	evidence	evidence	NOUN
fsr-3924	1	16	from	from	ADP
fsr-3924	1	17	tiaa	tiaa	ADJ
fsr-3924	1	18	/	/	SYM
fsr-3924	1	19	cref	cref	PROPN
fsr-3924	1	20	edward	edward	PROPN
fsr-3924	1	21	m.	m.	PROPN
fsr-3924	1	22	millera	millera	PROPN
fsr-3924	1	23	,	,	PUNCT
fsr-3924	1	24	larry	larry	PROPN
fsr-3924	1	25	j.	j.	PROPN
fsr-3924	1	26	pratherb	pratherb	PROPN
fsr-3924	1	27	,	,	PUNCT
fsr-3924	1	28	*	*	PUNCT
fsr-3924	1	29	adepartment	adepartment	NOUN
fsr-3924	1	30	of	of	ADP
fsr-3924	1	31	economics	economic	NOUN
fsr-3924	1	32	and	and	CCONJ
fsr-3924	1	33	finance	finance	NOUN
fsr-3924	1	34	,	,	PUNCT
fsr-3924	1	35	university	university	NOUN
fsr-3924	1	36	of	of	ADP
fsr-3924	1	37	new	new	PROPN
fsr-3924	1	38	orleans	orleans	PROPN
fsr-3924	1	39	,	,	PUNCT
fsr-3924	1	40	new	new	PROPN
fsr-3924	1	41	orleans	orleans	PROPN
fsr-3924	1	42	,	,	PUNCT
fsr-3924	1	43	la	la	PROPN
fsr-3924	1	44	70148	70148	NUM
fsr-3924	1	45	,	,	PUNCT
fsr-3924	1	46	usa	usa	PROPN
fsr-3924	1	47	bdepartment	bdepartment	NOUN
fsr-3924	1	48	of	of	ADP
fsr-3924	1	49	economics	economic	NOUN
fsr-3924	1	50	and	and	CCONJ
fsr-3924	1	51	finance	finance	NOUN
fsr-3924	1	52	,	,	PUNCT
fsr-3924	1	53	east	east	PROPN
fsr-3924	1	54	tennessee	tennessee	PROPN
fsr-3924	1	55	state	state	PROPN
fsr-3924	1	56	university	university	PROPN
fsr-3924	1	57	,	,	PUNCT
fsr-3924	1	58	box	box	NOUN
fsr-3924	1	59	70686	70686	NUM
fsr-3924	1	60	,	,	PUNCT
fsr-3924	1	61	johnson	johnson	PROPN
fsr-3924	1	62	city	city	PROPN
fsr-3924	1	63	,	,	PUNCT
fsr-3924	1	64	tn	tn	PROPN
fsr-3924	1	65	37614	37614	NUM
fsr-3924	1	66	,	,	PUNCT
fsr-3924	1	67	usa	usa	PROPN
fsr-3924	1	68	received	receive	VERB
fsr-3924	1	69	18	18	NUM
fsr-3924	1	70	september	september	PROPN
fsr-3924	1	71	2000	2000	NUM
fsr-3924	1	72	;	;	PUNCT
fsr-3924	1	73	received	receive	VERB
fsr-3924	1	74	in	in	ADP
fsr-3924	1	75	revised	revise	VERB
fsr-3924	1	76	form	form	NOUN
fsr-3924	1	77	19	19	NUM
fsr-3924	1	78	december	december	PROPN
fsr-3924	1	79	2000	2000	NUM
fsr-3924	1	80	;	;	PUNCT
fsr-3924	1	81	accepted	accept	VERB
fsr-3924	1	82	7	7	NUM
fsr-3924	1	83	february	february	NOUN
fsr-3924	1	84	2001	2001	NUM
fsr-3924	1	85	abstract	abstract	ADJ
fsr-3924	1	86	evidence	evidence	NOUN
fsr-3924	1	87	suggests	suggest	VERB
fsr-3924	1	88	that	that	SCONJ
fsr-3924	1	89	predictabilities	predictability	NOUN
fsr-3924	1	90	in	in	ADP
fsr-3924	1	91	asset	asset	NOUN
fsr-3924	1	92	class	class	NOUN
fsr-3924	1	93	returns	return	NOUN
fsr-3924	1	94	exist	exist	VERB
fsr-3924	1	95	but	but	CCONJ
fsr-3924	1	96	transactions	transaction	NOUN
fsr-3924	1	97	costs	cost	NOUN
fsr-3924	1	98	prevent	prevent	VERB
fsr-3924	1	99	exploiting	exploit	VERB
fsr-3924	1	100	them	they	PRON
fsr-3924	1	101	using	use	VERB
fsr-3924	1	102	individual	individual	ADJ
fsr-3924	1	103	securities	security	NOUN
fsr-3924	1	104	.	.	PUNCT
fsr-3924	2	1	extant	extant	ADJ
fsr-3924	2	2	research	research	NOUN
fsr-3924	2	3	also	also	ADV
fsr-3924	2	4	shows	show	VERB
fsr-3924	2	5	that	that	SCONJ
fsr-3924	2	6	these	these	DET
fsr-3924	2	7	relationships	relationship	NOUN
fsr-3924	2	8	may	may	AUX
fsr-3924	2	9	by	by	SCONJ
fsr-3924	2	10	exploitable	exploitable	VERB
fsr-3924	2	11	through	through	ADP
fsr-3924	2	12	the	the	DET
fsr-3924	2	13	trading	trading	NOUN
fsr-3924	2	14	of	of	ADP
fsr-3924	2	15	mutual	mutual	ADJ
fsr-3924	2	16	funds	fund	NOUN
fsr-3924	2	17	but	but	CCONJ
fsr-3924	2	18	fails	fail	VERB
fsr-3924	2	19	to	to	PART
fsr-3924	2	20	examine	examine	VERB
fsr-3924	2	21	whether	whether	SCONJ
fsr-3924	2	22	this	this	DET
fsr-3924	2	23	relationship	relationship	NOUN
fsr-3924	2	24	exists	exist	VERB
fsr-3924	2	25	within	within	ADP
fsr-3924	2	26	an	an	DET
fsr-3924	2	27	individual	individual	ADJ
fsr-3924	2	28	fund	fund	NOUN
fsr-3924	2	29	family	family	NOUN
fsr-3924	2	30	.	.	PUNCT
fsr-3924	3	1	this	this	DET
fsr-3924	3	2	paper	paper	NOUN
fsr-3924	3	3	finds	find	VERB
fsr-3924	3	4	that	that	SCONJ
fsr-3924	3	5	tiaa	tiaa	ADJ
fsr-3924	3	6	/	/	SYM
fsr-3924	3	7	cref	cref	NOUN
fsr-3924	3	8	retirement	retirement	NOUN
fsr-3924	3	9	annuities	annuity	NOUN
fsr-3924	3	10	exhibit	exhibit	VERB
fsr-3924	3	11	predictable	predictable	ADJ
fsr-3924	3	12	elements	element	NOUN
fsr-3924	3	13	that	that	PRON
fsr-3924	3	14	could	could	AUX
fsr-3924	3	15	be	be	AUX
fsr-3924	3	16	exploited	exploit	VERB
fsr-3924	3	17	by	by	ADP
fsr-3924	3	18	informed	informed	ADJ
fsr-3924	3	19	traders	trader	NOUN
fsr-3924	3	20	.	.	PUNCT
fsr-3924	4	1	the	the	DET
fsr-3924	4	2	proposed	propose	VERB
fsr-3924	4	3	trading	trading	NOUN
fsr-3924	4	4	strategy	strategy	NOUN
fsr-3924	4	5	dominates	dominate	VERB
fsr-3924	4	6	a	a	DET
fsr-3924	4	7	buy	buy	VERB
fsr-3924	4	8	-	-	PUNCT
fsr-3924	4	9	and	and	CCONJ
fsr-3924	4	10	-	-	PUNCT
fsr-3924	4	11	hold	hold	VERB
fsr-3924	4	12	strategy	strategy	NOUN
fsr-3924	4	13	by	by	ADP
fsr-3924	4	14	producing	produce	VERB
fsr-3924	4	15	higher	high	ADJ
fsr-3924	4	16	raw	raw	ADJ
fsr-3924	4	17	and	and	CCONJ
fsr-3924	4	18	risk	risk	NOUN
fsr-3924	4	19	-	-	PUNCT
fsr-3924	4	20	adjusted	adjust	VERB
fsr-3924	4	21	returns	return	NOUN
fsr-3924	4	22	.	.	PUNCT
fsr-3924	5	1	additionally	additionally	ADV
fsr-3924	5	2	,	,	PUNCT
fsr-3924	5	3	the	the	DET
fsr-3924	5	4	risk	risk	NOUN
fsr-3924	5	5	is	be	AUX
fsr-3924	5	6	greatly	greatly	ADV
fsr-3924	5	7	reduced	reduce	VERB
fsr-3924	5	8	.	.	PUNCT
fsr-3924	6	1	©	©	PROPN
fsr-3924	6	2	2001	2001	NUM
fsr-3924	6	3	elsevier	elsevier	PROPN
fsr-3924	6	4	science	science	PROPN
fsr-3924	6	5	inc	inc	PROPN
fsr-3924	6	6	.	.	PUNCT
fsr-3924	7	1	all	all	DET
fsr-3924	7	2	rights	right	NOUN
fsr-3924	7	3	reserved	reserve	VERB
fsr-3924	7	4	.	.	PUNCT
fsr-3924	8	1	jel	jel	PROPN
fsr-3924	8	2	classification	classification	PROPN
fsr-3924	8	3	:	:	PUNCT
fsr-3924	8	4	g12	g12	PROPN
fsr-3924	8	5	keywords	keyword	NOUN
fsr-3924	8	6	:	:	PUNCT
fsr-3924	8	7	return	return	VERB
fsr-3924	8	8	predictability	predictability	NOUN
fsr-3924	8	9	;	;	PUNCT
fsr-3924	8	10	technical	technical	ADJ
fsr-3924	8	11	trading	trading	NOUN
fsr-3924	8	12	rules	rule	NOUN
fsr-3924	8	13	;	;	PUNCT
fsr-3924	8	14	lead	lead	VERB
fsr-3924	8	15	and	and	CCONJ
fsr-3924	8	16	lag	lag	VERB
fsr-3924	8	17	relationships	relationship	NOUN
fsr-3924	8	18	among	among	ADP
fsr-3924	8	19	asset	asset	NOUN
fsr-3924	8	20	classes	class	NOUN
fsr-3924	8	21	;	;	PUNCT
fsr-3924	8	22	retirement	retirement	NOUN
fsr-3924	8	23	annuities	annuity	NOUN
fsr-3924	8	24	;	;	PUNCT
fsr-3924	8	25	technical	technical	ADJ
fsr-3924	8	26	trading	trading	NOUN
fsr-3924	8	27	rules	rule	NOUN
fsr-3924	8	28	1	1	NUM
fsr-3924	8	29	.	.	PUNCT
fsr-3924	9	1	introduction	introduction	NOUN
fsr-3924	9	2	there	there	PRON
fsr-3924	9	3	is	be	VERB
fsr-3924	9	4	now	now	ADV
fsr-3924	9	5	substantial	substantial	ADJ
fsr-3924	9	6	evidence	evidence	NOUN
fsr-3924	9	7	that	that	SCONJ
fsr-3924	9	8	stock	stock	NOUN
fsr-3924	9	9	prices	price	NOUN
fsr-3924	9	10	exhibit	exhibit	VERB
fsr-3924	9	11	an	an	DET
fsr-3924	9	12	appreciable	appreciable	ADJ
fsr-3924	9	13	amount	amount	NOUN
fsr-3924	9	14	of	of	ADP
fsr-3924	9	15	predictability	predictability	NOUN
fsr-3924	9	16	(	(	PUNCT
fsr-3924	9	17	e.g.	e.g.	ADV
fsr-3924	9	18	,	,	PUNCT
fsr-3924	9	19	chalmers	chalmer	NOUN
fsr-3924	9	20	,	,	PUNCT
fsr-3924	9	21	edelen	edelen	ADJ
fsr-3924	9	22	,	,	PUNCT
fsr-3924	9	23	&	&	CCONJ
fsr-3924	9	24	kadlec	kadlec	PROPN
fsr-3924	9	25	,	,	PUNCT
fsr-3924	9	26	1999	1999	NUM
fsr-3924	9	27	;	;	PUNCT
fsr-3924	9	28	goetzmann	goetzmann	PROPN
fsr-3924	9	29	,	,	PUNCT
fsr-3924	9	30	ivkovic	ivkovic	ADJ
fsr-3924	9	31	´	´	NOUN
fsr-3924	9	32	,	,	PUNCT
fsr-3924	9	33	&	&	CCONJ
fsr-3924	9	34	rouwenhorst	rouwenhorst	PROPN
fsr-3924	9	35	,	,	PUNCT
fsr-3924	9	36	2000	2000	NUM
fsr-3924	9	37	;	;	PUNCT
fsr-3924	9	38	hamao	hamao	PROPN
fsr-3924	9	39	,	,	PUNCT
fsr-3924	9	40	masulis	masulis	PROPN
fsr-3924	9	41	&	&	CCONJ
fsr-3924	9	42	ng	ng	PROPN
fsr-3924	9	43	,	,	PUNCT
fsr-3924	9	44	1990	1990	NUM
fsr-3924	9	45	;	;	PUNCT
fsr-3924	9	46	lo	lo	PROPN
fsr-3924	9	47	&	&	CCONJ
fsr-3924	9	48	mackinlay	mackinlay	PROPN
fsr-3924	9	49	,	,	PUNCT
fsr-3924	9	50	1999	1999	NUM
fsr-3924	9	51	)	)	PUNCT
fsr-3924	9	52	.	.	PUNCT
fsr-3924	10	1	this	this	PRON
fsr-3924	10	2	is	be	AUX
fsr-3924	10	3	in	in	ADP
fsr-3924	10	4	spite	spite	NOUN
fsr-3924	10	5	of	of	ADP
fsr-3924	10	6	the	the	DET
fsr-3924	10	7	traditional	traditional	ADJ
fsr-3924	10	8	efficient	efficient	ADJ
fsr-3924	10	9	market	market	NOUN
fsr-3924	10	10	theory	theory	NOUN
fsr-3924	10	11	argument	argument	NOUN
fsr-3924	10	12	that	that	SCONJ
fsr-3924	10	13	if	if	SCONJ
fsr-3924	10	14	an	an	DET
fsr-3924	10	15	appreciable	appreciable	ADJ
fsr-3924	10	16	predictive	predictive	ADJ
fsr-3924	10	17	element	element	NOUN
fsr-3924	10	18	were	be	AUX
fsr-3924	10	19	*	*	PUNCT
fsr-3924	10	20	corresponding	correspond	VERB
fsr-3924	10	21	author	author	NOUN
fsr-3924	10	22	.	.	PUNCT
fsr-3924	11	1	tel.:11	tel.:11	VERB
fsr-3924	11	2	-	-	PUNCT
fsr-3924	11	3	423	423	NUM
fsr-3924	11	4	-	-	PUNCT
fsr-3924	11	5	439	439	NUM
fsr-3924	11	6	-	-	PUNCT
fsr-3924	11	7	5668	5668	NUM
fsr-3924	11	8	;	;	PUNCT
fsr-3924	11	9	fax:11	fax:11	NOUN
fsr-3924	11	10	-	-	PUNCT
fsr-3924	11	11	423	423	NUM
fsr-3924	11	12	-	-	PUNCT
fsr-3924	11	13	439	439	NUM
fsr-3924	11	14	-	-	PUNCT
fsr-3924	11	15	8583	8583	NUM
fsr-3924	11	16	.	.	PUNCT
fsr-3924	12	1	e	e	X
fsr-3924	12	2	-	-	NOUN
fsr-3924	12	3	mail	mail	NOUN
fsr-3924	12	4	addresses:emmef@uno.edu	addresses:emmef@uno.edu	PROPN
fsr-3924	12	5	(	(	PUNCT
fsr-3924	12	6	e.m	e.m	PROPN
fsr-3924	12	7	.	.	PROPN
fsr-3924	12	8	miller	miller	PROPN
fsr-3924	12	9	)	)	PUNCT
fsr-3924	12	10	;	;	PUNCT
fsr-3924	12	11	prather@etsu.edu	prather@etsu.edu	PROPN
fsr-3924	12	12	(	(	PUNCT
fsr-3924	12	13	l.j	l.j	PROPN
fsr-3924	12	14	.	.	PROPN
fsr-3924	12	15	prather	prather	PROPN
fsr-3924	12	16	)	)	PUNCT
fsr-3924	12	17	.	.	PUNCT
fsr-3924	13	1	financial	financial	ADJ
fsr-3924	13	2	services	service	NOUN
fsr-3924	13	3	review	review	VERB
fsr-3924	13	4	9	9	NUM
fsr-3924	13	5	(	(	PUNCT
fsr-3924	13	6	2000	2000	NUM
fsr-3924	13	7	)	)	PUNCT
fsr-3924	14	1	219–230	219–230	NUM
fsr-3924	14	2	1057	1057	NUM
fsr-3924	14	3	-	-	SYM
fsr-3924	14	4	0810/00/$	0810/00/$	NUM
fsr-3924	14	5	–	–	PUNCT
fsr-3924	14	6	see	see	VERB
fsr-3924	14	7	front	front	ADJ
fsr-3924	14	8	matter	matter	NOUN
fsr-3924	14	9	©	©	PROPN
fsr-3924	14	10	2001	2001	NUM
fsr-3924	14	11	elsevier	elsevier	PROPN
fsr-3924	14	12	science	science	PROPN
fsr-3924	14	13	inc	inc	PROPN
fsr-3924	14	14	.	.	PUNCT
fsr-3924	15	1	all	all	DET
fsr-3924	15	2	rights	right	NOUN
fsr-3924	15	3	reserved	reserve	VERB
fsr-3924	15	4	.	.	PUNCT
fsr-3924	16	1	pii	pii	NOUN
fsr-3924	16	2	:	:	PUNCT
fsr-3924	16	3	s1057	s1057	NOUN
fsr-3924	16	4	-	-	PUNCT
fsr-3924	16	5	0810(01)00068	0810(01)00068	NUM
fsr-3924	16	6	-	-	PUNCT
fsr-3924	16	7	3	3	NUM
fsr-3924	16	8	found	find	VERB
fsr-3924	16	9	,	,	PUNCT
fsr-3924	16	10	investors	investor	NOUN
fsr-3924	16	11	would	would	AUX
fsr-3924	16	12	trade	trade	VERB
fsr-3924	16	13	so	so	SCONJ
fsr-3924	16	14	as	as	SCONJ
fsr-3924	16	15	to	to	PART
fsr-3924	16	16	exploit	exploit	VERB
fsr-3924	16	17	the	the	DET
fsr-3924	16	18	predictability	predictability	NOUN
fsr-3924	16	19	.	.	PUNCT
fsr-3924	17	1	miller	miller	PROPN
fsr-3924	17	2	and	and	CCONJ
fsr-3924	17	3	prather	prather	PROPN
fsr-3924	17	4	(	(	PUNCT
fsr-3924	17	5	1999	1999	NUM
fsr-3924	17	6	)	)	PUNCT
fsr-3924	17	7	find	find	VERB
fsr-3924	17	8	similar	similar	ADJ
fsr-3924	17	9	return	return	NOUN
fsr-3924	17	10	predictabilities	predictability	NOUN
fsr-3924	17	11	using	use	VERB
fsr-3924	17	12	mutual	mutual	ADJ
fsr-3924	17	13	fund	fund	NOUN
fsr-3924	17	14	investment	investment	NOUN
fsr-3924	17	15	objectives	objective	NOUN
fsr-3924	17	16	as	as	ADP
fsr-3924	17	17	asset	asset	NOUN
fsr-3924	17	18	class	class	NOUN
fsr-3924	17	19	proxies	proxy	NOUN
fsr-3924	17	20	.	.	PUNCT
fsr-3924	18	1	however	however	ADV
fsr-3924	18	2	,	,	PUNCT
fsr-3924	18	3	extant	extant	ADJ
fsr-3924	18	4	research	research	NOUN
fsr-3924	18	5	on	on	ADP
fsr-3924	18	6	asset	asset	NOUN
fsr-3924	18	7	class	class	NOUN
fsr-3924	18	8	return	return	NOUN
fsr-3924	18	9	predictabilities	predictability	NOUN
fsr-3924	18	10	does	do	AUX
fsr-3924	18	11	not	not	PART
fsr-3924	18	12	address	address	VERB
fsr-3924	18	13	any	any	DET
fsr-3924	18	14	specific	specific	ADJ
fsr-3924	18	15	fund	fund	NOUN
fsr-3924	18	16	family	family	NOUN
fsr-3924	18	17	.	.	PUNCT
fsr-3924	19	1	rather	rather	ADV
fsr-3924	19	2	,	,	PUNCT
fsr-3924	19	3	it	it	PRON
fsr-3924	19	4	explores	explore	VERB
fsr-3924	19	5	the	the	DET
fsr-3924	19	6	aggregate	aggregate	ADJ
fsr-3924	19	7	return	return	NOUN
fsr-3924	19	8	predictabilities	predictability	NOUN
fsr-3924	19	9	using	use	VERB
fsr-3924	19	10	asset	asset	NOUN
fsr-3924	19	11	class	class	NOUN
fsr-3924	19	12	return	return	NOUN
fsr-3924	19	13	indexes	index	NOUN
fsr-3924	19	14	.	.	PUNCT
fsr-3924	20	1	since	since	SCONJ
fsr-3924	20	2	najand	najand	NOUN
fsr-3924	20	3	and	and	CCONJ
fsr-3924	20	4	prather	prather	PROPN
fsr-3924	20	5	(	(	PUNCT
fsr-3924	20	6	1999	1999	NUM
fsr-3924	20	7	)	)	PUNCT
fsr-3924	20	8	find	find	VERB
fsr-3924	20	9	that	that	SCONJ
fsr-3924	20	10	common	common	ADJ
fsr-3924	20	11	fund	fund	NOUN
fsr-3924	20	12	classification	classification	NOUN
fsr-3924	20	13	schemes	scheme	NOUN
fsr-3924	20	14	fail	fail	VERB
fsr-3924	20	15	to	to	PART
fsr-3924	20	16	capture	capture	VERB
fsr-3924	20	17	all	all	DET
fsr-3924	20	18	elements	element	NOUN
fsr-3924	20	19	of	of	ADP
fsr-3924	20	20	risk	risk	NOUN
fsr-3924	20	21	,	,	PUNCT
fsr-3924	20	22	it	it	PRON
fsr-3924	20	23	is	be	AUX
fsr-3924	20	24	not	not	PART
fsr-3924	20	25	possible	possible	ADJ
fsr-3924	20	26	to	to	PART
fsr-3924	20	27	determine	determine	VERB
fsr-3924	20	28	whether	whether	SCONJ
fsr-3924	20	29	return	return	NOUN
fsr-3924	20	30	predictabilities	predictability	NOUN
fsr-3924	20	31	exist	exist	VERB
fsr-3924	20	32	or	or	CCONJ
fsr-3924	20	33	whether	whether	SCONJ
fsr-3924	20	34	a	a	DET
fsr-3924	20	35	predictable	predictable	ADJ
fsr-3924	20	36	component	component	NOUN
fsr-3924	20	37	is	be	AUX
fsr-3924	20	38	exploitable	exploitable	ADJ
fsr-3924	20	39	within	within	ADP
fsr-3924	20	40	any	any	DET
fsr-3924	20	41	given	give	VERB
fsr-3924	20	42	fund	fund	NOUN
fsr-3924	20	43	family	family	NOUN
fsr-3924	20	44	.	.	PUNCT
fsr-3924	21	1	this	this	DET
fsr-3924	21	2	article	article	NOUN
fsr-3924	21	3	addresses	address	VERB
fsr-3924	21	4	the	the	DET
fsr-3924	21	5	issue	issue	NOUN
fsr-3924	21	6	of	of	ADP
fsr-3924	21	7	whether	whether	SCONJ
fsr-3924	21	8	these	these	DET
fsr-3924	21	9	predictabilities	predictability	NOUN
fsr-3924	21	10	exist	exist	VERB
fsr-3924	21	11	in	in	ADP
fsr-3924	21	12	tiaa	tiaa	ADJ
fsr-3924	21	13	/	/	SYM
fsr-3924	21	14	cref	cref	NOUN
fsr-3924	21	15	retirement	retirement	NOUN
fsr-3924	21	16	annuities	annuity	NOUN
fsr-3924	21	17	.	.	PUNCT
fsr-3924	22	1	this	this	DET
fsr-3924	22	2	line	line	NOUN
fsr-3924	22	3	of	of	ADP
fsr-3924	22	4	investigation	investigation	NOUN
fsr-3924	22	5	is	be	AUX
fsr-3924	22	6	important	important	ADJ
fsr-3924	22	7	for	for	ADP
fsr-3924	22	8	several	several	ADJ
fsr-3924	22	9	reasons	reason	NOUN
fsr-3924	22	10	.	.	PUNCT
fsr-3924	23	1	first	first	ADV
fsr-3924	23	2	,	,	PUNCT
fsr-3924	23	3	tiaa	tiaa	ADJ
fsr-3924	23	4	/	/	SYM
fsr-3924	23	5	cref	cref	NOUN
fsr-3924	23	6	is	be	AUX
fsr-3924	23	7	one	one	NUM
fsr-3924	23	8	of	of	ADP
fsr-3924	23	9	the	the	DET
fsr-3924	23	10	largest	large	ADJ
fsr-3924	23	11	providers	provider	NOUN
fsr-3924	23	12	of	of	ADP
fsr-3924	23	13	retirement	retirement	NOUN
fsr-3924	23	14	annuities	annuity	NOUN
fsr-3924	23	15	to	to	ADP
fsr-3924	23	16	members	member	NOUN
fsr-3924	23	17	of	of	ADP
fsr-3924	23	18	universities	university	NOUN
fsr-3924	23	19	.	.	PUNCT
fsr-3924	24	1	therefore	therefore	ADV
fsr-3924	24	2	,	,	PUNCT
fsr-3924	24	3	it	it	PRON
fsr-3924	24	4	is	be	AUX
fsr-3924	24	5	important	important	ADJ
fsr-3924	24	6	to	to	PART
fsr-3924	24	7	determine	determine	VERB
fsr-3924	24	8	whether	whether	SCONJ
fsr-3924	24	9	the	the	DET
fsr-3924	24	10	effects	effect	NOUN
fsr-3924	24	11	found	find	VERB
fsr-3924	24	12	in	in	ADP
fsr-3924	24	13	theoretical	theoretical	ADJ
fsr-3924	24	14	portfolios	portfolio	NOUN
fsr-3924	24	15	constructed	construct	VERB
fsr-3924	24	16	by	by	ADP
fsr-3924	24	17	researchers	researcher	NOUN
fsr-3924	24	18	are	be	AUX
fsr-3924	24	19	observable	observable	ADJ
fsr-3924	24	20	in	in	ADP
fsr-3924	24	21	portfolios	portfolio	NOUN
fsr-3924	24	22	that	that	PRON
fsr-3924	24	23	fund	fund	NOUN
fsr-3924	24	24	managers	manager	NOUN
fsr-3924	24	25	construct	construct	VERB
fsr-3924	24	26	and	and	CCONJ
fsr-3924	24	27	investors	investor	NOUN
fsr-3924	24	28	purchase	purchase	VERB
fsr-3924	24	29	.	.	PUNCT
fsr-3924	25	1	secondly	secondly	ADV
fsr-3924	25	2	,	,	PUNCT
fsr-3924	25	3	if	if	SCONJ
fsr-3924	25	4	return	return	NOUN
fsr-3924	25	5	predictabilities	predictability	NOUN
fsr-3924	25	6	exist	exist	VERB
fsr-3924	25	7	,	,	PUNCT
fsr-3924	25	8	can	can	AUX
fsr-3924	25	9	knowledgeable	knowledgeable	VERB
fsr-3924	25	10	investors	investor	NOUN
fsr-3924	25	11	use	use	VERB
fsr-3924	25	12	these	these	DET
fsr-3924	25	13	predictabilities	predictability	NOUN
fsr-3924	25	14	to	to	PART
fsr-3924	25	15	garner	garner	VERB
fsr-3924	25	16	higher	high	ADJ
fsr-3924	25	17	risk	risk	NOUN
fsr-3924	25	18	-	-	PUNCT
fsr-3924	25	19	adjusted	adjust	VERB
fsr-3924	25	20	returns	return	NOUN
fsr-3924	25	21	through	through	ADP
fsr-3924	25	22	frequent	frequent	ADJ
fsr-3924	25	23	trading	trading	NOUN
fsr-3924	25	24	?	?	PUNCT
fsr-3924	26	1	evidence	evidence	NOUN
fsr-3924	26	2	suggests	suggest	VERB
fsr-3924	26	3	that	that	SCONJ
fsr-3924	26	4	some	some	DET
fsr-3924	26	5	investors	investor	NOUN
fsr-3924	26	6	may	may	AUX
fsr-3924	26	7	be	be	AUX
fsr-3924	26	8	attempting	attempt	VERB
fsr-3924	26	9	to	to	PART
fsr-3924	26	10	move	move	VERB
fsr-3924	26	11	funds	fund	NOUN
fsr-3924	26	12	on	on	ADP
fsr-3924	26	13	a	a	DET
fsr-3924	26	14	systematic	systematic	ADJ
fsr-3924	26	15	basis	basis	NOUN
fsr-3924	26	16	.	.	PUNCT
fsr-3924	27	1	a	a	DET
fsr-3924	27	2	recent	recent	ADJ
fsr-3924	27	3	article	article	NOUN
fsr-3924	27	4	inthe	inthe	DET
fsr-3924	27	5	participant	participant	PROPN
fsr-3924	27	6	,	,	PUNCT
fsr-3924	27	7	the	the	DET
fsr-3924	27	8	periodic	periodic	ADJ
fsr-3924	27	9	newsletter	newsletter	NOUN
fsr-3924	27	10	for	for	ADP
fsr-3924	27	11	tiaa	tiaa	ADJ
fsr-3924	27	12	/	/	SYM
fsr-3924	27	13	cref	cref	NOUN
fsr-3924	27	14	participants	participant	NOUN
fsr-3924	27	15	,	,	PUNCT
fsr-3924	27	16	expressed	express	VERB
fsr-3924	27	17	concern	concern	NOUN
fsr-3924	27	18	that	that	SCONJ
fsr-3924	27	19	some	some	DET
fsr-3924	27	20	investors	investor	NOUN
fsr-3924	27	21	are	be	AUX
fsr-3924	27	22	making	make	VERB
fsr-3924	27	23	frequent	frequent	ADJ
fsr-3924	27	24	trades	trade	NOUN
fsr-3924	27	25	and	and	CCONJ
fsr-3924	27	26	that	that	SCONJ
fsr-3924	27	27	this	this	PRON
fsr-3924	27	28	is	be	AUX
fsr-3924	27	29	problematic	problematic	ADJ
fsr-3924	27	30	for	for	ADP
fsr-3924	27	31	tiaa	tiaa	NOUN
fsr-3924	27	32	/	/	SYM
fsr-3924	27	33	cref	cref	NOUN
fsr-3924	27	34	.	.	PUNCT
fsr-3924	28	1	additionally	additionally	ADV
fsr-3924	28	2	,	,	PUNCT
fsr-3924	28	3	a	a	DET
fsr-3924	28	4	new	new	ADJ
fsr-3924	28	5	section	section	NOUN
fsr-3924	28	6	was	be	AUX
fsr-3924	28	7	added	add	VERB
fsr-3924	28	8	to	to	ADP
fsr-3924	28	9	the	the	DET
fsr-3924	28	10	college	college	PROPN
fsr-3924	28	11	retirement	retirement	PROPN
fsr-3924	28	12	equities	equities	PROPN
fsr-3924	28	13	fund	fund	NOUN
fsr-3924	28	14	prospectus	prospectus	NOUN
fsr-3924	28	15	,	,	PUNCT
fsr-3924	28	16	dated	date	VERB
fsr-3924	28	17	may	may	PROPN
fsr-3924	28	18	1	1	NUM
fsr-3924	28	19	,	,	PUNCT
fsr-3924	28	20	2000	2000	NUM
fsr-3924	28	21	,	,	PUNCT
fsr-3924	28	22	concerning	concern	VERB
fsr-3924	28	23	the	the	DET
fsr-3924	28	24	implementation	implementation	NOUN
fsr-3924	28	25	of	of	ADP
fsr-3924	28	26	a	a	DET
fsr-3924	28	27	market	market	NOUN
fsr-3924	28	28	timing	timing	NOUN
fsr-3924	28	29	policy	policy	NOUN
fsr-3924	28	30	.	.	PUNCT
fsr-3924	29	1	this	this	DET
fsr-3924	29	2	policy	policy	NOUN
fsr-3924	29	3	restricts	restrict	VERB
fsr-3924	29	4	the	the	DET
fsr-3924	29	5	number	number	NOUN
fsr-3924	29	6	of	of	ADP
fsr-3924	29	7	trades	trade	NOUN
fsr-3924	29	8	permitted	permit	VERB
fsr-3924	29	9	in	in	ADP
fsr-3924	29	10	an	an	DET
fsr-3924	29	11	effort	effort	NOUN
fsr-3924	29	12	to	to	PART
fsr-3924	29	13	reduce	reduce	VERB
fsr-3924	29	14	the	the	DET
fsr-3924	29	15	negative	negative	ADJ
fsr-3924	29	16	impact	impact	NOUN
fsr-3924	29	17	transactions	transaction	NOUN
fsr-3924	29	18	costs	cost	NOUN
fsr-3924	29	19	incurred	incur	VERB
fsr-3924	29	20	by	by	ADP
fsr-3924	29	21	tiaa	tiaa	ADJ
fsr-3924	29	22	/	/	SYM
fsr-3924	29	23	cref	cref	NOUN
fsr-3924	29	24	due	due	ADP
fsr-3924	29	25	to	to	ADP
fsr-3924	29	26	this	this	DET
fsr-3924	29	27	frequent	frequent	ADJ
fsr-3924	29	28	trading	trading	NOUN
fsr-3924	29	29	.	.	PUNCT
fsr-3924	30	1	since	since	SCONJ
fsr-3924	30	2	this	this	DET
fsr-3924	30	3	policy	policy	NOUN
fsr-3924	30	4	would	would	AUX
fsr-3924	30	5	not	not	PART
fsr-3924	30	6	prevent	prevent	VERB
fsr-3924	30	7	trading	trading	NOUN
fsr-3924	30	8	on	on	ADP
fsr-3924	30	9	the	the	DET
fsr-3924	30	10	turn	turn	NOUN
fsr-3924	30	11	-	-	PUNCT
fsr-3924	30	12	of	of	ADP
fsr-3924	30	13	-	-	PUNCT
fsr-3924	30	14	the	the	DET
fsr-3924	30	15	-	-	PUNCT
fsr-3924	30	16	month	month	NOUN
fsr-3924	30	17	effect	effect	NOUN
fsr-3924	30	18	found	find	VERB
fsr-3924	30	19	by	by	ADP
fsr-3924	30	20	kunkel	kunkel	PROPN
fsr-3924	30	21	and	and	CCONJ
fsr-3924	30	22	compton	compton	PROPN
fsr-3924	30	23	(	(	PUNCT
fsr-3924	30	24	1998	1998	NUM
fsr-3924	30	25	)	)	PUNCT
fsr-3924	30	26	,	,	PUNCT
fsr-3924	30	27	it	it	PRON
fsr-3924	30	28	is	be	AUX
fsr-3924	30	29	possible	possible	ADJ
fsr-3924	30	30	another	another	DET
fsr-3924	30	31	driver	driver	NOUN
fsr-3924	30	32	of	of	ADP
fsr-3924	30	33	frequent	frequent	ADJ
fsr-3924	30	34	trading	trading	NOUN
fsr-3924	30	35	exists	exist	VERB
fsr-3924	30	36	.	.	PUNCT
fsr-3924	31	1	empirical	empirical	ADJ
fsr-3924	31	2	testing	testing	NOUN
fsr-3924	31	3	uses	use	VERB
fsr-3924	31	4	the	the	DET
fsr-3924	31	5	granger	granger	PROPN
fsr-3924	31	6	causality	causality	NOUN
fsr-3924	31	7	method	method	NOUN
fsr-3924	31	8	to	to	PART
fsr-3924	31	9	examine	examine	VERB
fsr-3924	31	10	daily	daily	ADJ
fsr-3924	31	11	returns	return	NOUN
fsr-3924	31	12	of	of	ADP
fsr-3924	31	13	retirement	retirement	NOUN
fsr-3924	31	14	annuities	annuity	NOUN
fsr-3924	31	15	during	during	ADP
fsr-3924	31	16	a	a	DET
fsr-3924	31	17	1453	1453	NUM
fsr-3924	31	18	-	-	PUNCT
fsr-3924	31	19	day	day	NOUN
fsr-3924	31	20	period	period	NOUN
fsr-3924	31	21	.	.	PUNCT
fsr-3924	32	1	the	the	DET
fsr-3924	32	2	granger	granger	PROPN
fsr-3924	32	3	causality	causality	NOUN
fsr-3924	32	4	method	method	NOUN
fsr-3924	32	5	enables	enable	VERB
fsr-3924	32	6	us	we	PRON
fsr-3924	32	7	to	to	PART
fsr-3924	32	8	test	test	VERB
fsr-3924	32	9	directly	directly	ADV
fsr-3924	32	10	whether	whether	SCONJ
fsr-3924	32	11	knowing	know	VERB
fsr-3924	32	12	past	past	ADJ
fsr-3924	32	13	returns	return	NOUN
fsr-3924	32	14	on	on	ADP
fsr-3924	32	15	one	one	NUM
fsr-3924	32	16	asset	asset	NOUN
fsr-3924	32	17	class	class	NOUN
fsr-3924	32	18	will	will	AUX
fsr-3924	32	19	aid	aid	VERB
fsr-3924	32	20	in	in	ADP
fsr-3924	32	21	the	the	DET
fsr-3924	32	22	forecast	forecast	NOUN
fsr-3924	32	23	of	of	ADP
fsr-3924	32	24	returns	return	NOUN
fsr-3924	32	25	for	for	ADP
fsr-3924	32	26	another	another	DET
fsr-3924	32	27	asset	asset	NOUN
fsr-3924	32	28	class	class	NOUN
fsr-3924	32	29	.	.	PUNCT
fsr-3924	33	1	next	next	ADV
fsr-3924	33	2	,	,	PUNCT
fsr-3924	33	3	we	we	PRON
fsr-3924	33	4	develop	develop	VERB
fsr-3924	33	5	a	a	DET
fsr-3924	33	6	trading	trading	NOUN
fsr-3924	33	7	strategy	strategy	NOUN
fsr-3924	33	8	that	that	PRON
fsr-3924	33	9	attempts	attempt	VERB
fsr-3924	33	10	to	to	PART
fsr-3924	33	11	exploit	exploit	VERB
fsr-3924	33	12	observed	observe	VERB
fsr-3924	33	13	statistical	statistical	ADJ
fsr-3924	33	14	relationships	relationship	NOUN
fsr-3924	33	15	.	.	PUNCT
fsr-3924	34	1	then	then	ADV
fsr-3924	34	2	we	we	PRON
fsr-3924	34	3	test	test	VERB
fsr-3924	34	4	the	the	DET
fsr-3924	34	5	trading	trading	NOUN
fsr-3924	34	6	strategy	strategy	NOUN
fsr-3924	34	7	on	on	ADP
fsr-3924	34	8	a	a	DET
fsr-3924	34	9	holdout	holdout	NOUN
fsr-3924	34	10	sample	sample	NOUN
fsr-3924	34	11	and	and	CCONJ
fsr-3924	34	12	find	find	VERB
fsr-3924	34	13	that	that	SCONJ
fsr-3924	34	14	it	it	PRON
fsr-3924	34	15	dominates	dominate	VERB
fsr-3924	34	16	a	a	DET
fsr-3924	34	17	buy	buy	VERB
fsr-3924	34	18	-	-	PUNCT
fsr-3924	34	19	and	and	CCONJ
fsr-3924	34	20	-	-	PUNCT
fsr-3924	34	21	hold	hold	VERB
fsr-3924	34	22	strategy	strategy	NOUN
fsr-3924	34	23	in	in	ADP
fsr-3924	34	24	terms	term	NOUN
fsr-3924	34	25	of	of	ADP
fsr-3924	34	26	raw	raw	ADJ
fsr-3924	34	27	and	and	CCONJ
fsr-3924	34	28	risk	risk	NOUN
fsr-3924	34	29	-	-	PUNCT
fsr-3924	34	30	adjusted	adjust	VERB
fsr-3924	34	31	returns	return	NOUN
fsr-3924	34	32	.	.	PUNCT
fsr-3924	35	1	finally	finally	ADV
fsr-3924	35	2	,	,	PUNCT
fsr-3924	35	3	we	we	PRON
fsr-3924	35	4	show	show	VERB
fsr-3924	35	5	that	that	SCONJ
fsr-3924	35	6	the	the	DET
fsr-3924	35	7	new	new	ADJ
fsr-3924	35	8	market	market	NOUN
fsr-3924	35	9	timing	timing	NOUN
fsr-3924	35	10	policy	policy	NOUN
fsr-3924	35	11	implemented	implement	VERB
fsr-3924	35	12	by	by	ADP
fsr-3924	35	13	tiaa	tiaa	NOUN
fsr-3924	35	14	/	/	SYM
fsr-3924	35	15	cref	cref	NOUN
fsr-3924	35	16	does	do	AUX
fsr-3924	35	17	not	not	PART
fsr-3924	35	18	eliminate	eliminate	VERB
fsr-3924	35	19	the	the	DET
fsr-3924	35	20	ability	ability	NOUN
fsr-3924	35	21	of	of	ADP
fsr-3924	35	22	informed	informed	ADJ
fsr-3924	35	23	traders	trader	NOUN
fsr-3924	35	24	to	to	PART
fsr-3924	35	25	exploit	exploit	VERB
fsr-3924	35	26	predictable	predictable	ADJ
fsr-3924	35	27	components	component	NOUN
fsr-3924	35	28	of	of	ADP
fsr-3924	35	29	returns	return	NOUN
fsr-3924	35	30	.	.	PUNCT
fsr-3924	36	1	as	as	ADP
fsr-3924	36	2	an	an	DET
fsr-3924	36	3	example	example	NOUN
fsr-3924	36	4	of	of	ADP
fsr-3924	36	5	the	the	DET
fsr-3924	36	6	effectiveness	effectiveness	NOUN
fsr-3924	36	7	of	of	ADP
fsr-3924	36	8	this	this	DET
fsr-3924	36	9	trading	trading	NOUN
fsr-3924	36	10	rule	rule	NOUN
fsr-3924	36	11	,	,	PUNCT
fsr-3924	36	12	an	an	DET
fsr-3924	36	13	initial	initial	ADJ
fsr-3924	36	14	investment	investment	NOUN
fsr-3924	36	15	of	of	ADP
fsr-3924	36	16	$	$	SYM
fsr-3924	36	17	100,000	100,000	NUM
fsr-3924	36	18	at	at	ADP
fsr-3924	36	19	the	the	DET
fsr-3924	36	20	beginning	beginning	NOUN
fsr-3924	36	21	of	of	ADP
fsr-3924	36	22	the	the	DET
fsr-3924	36	23	holdout	holdout	NOUN
fsr-3924	36	24	period	period	NOUN
fsr-3924	36	25	would	would	AUX
fsr-3924	36	26	have	have	AUX
fsr-3924	36	27	increased	increase	VERB
fsr-3924	36	28	to	to	ADP
fsr-3924	36	29	$	$	SYM
fsr-3924	36	30	186,450	186,450	NUM
fsr-3924	36	31	if	if	SCONJ
fsr-3924	36	32	invested	invest	VERB
fsr-3924	36	33	entirely	entirely	ADV
fsr-3924	36	34	in	in	ADP
fsr-3924	36	35	the	the	DET
fsr-3924	36	36	index	index	NOUN
fsr-3924	36	37	fund	fund	NOUN
fsr-3924	36	38	whereas	whereas	SCONJ
fsr-3924	36	39	it	it	PRON
fsr-3924	36	40	would	would	AUX
fsr-3924	36	41	have	have	AUX
fsr-3924	36	42	grown	grow	VERB
fsr-3924	36	43	to	to	ADP
fsr-3924	36	44	$	$	SYM
fsr-3924	36	45	253,180	253,180	NUM
fsr-3924	36	46	if	if	SCONJ
fsr-3924	36	47	moved	move	VERB
fsr-3924	36	48	systematically	systematically	ADV
fsr-3924	36	49	.	.	PUNCT
fsr-3924	37	1	thus	thus	ADV
fsr-3924	37	2	,	,	PUNCT
fsr-3924	37	3	frequent	frequent	ADJ
fsr-3924	37	4	trading	trading	NOUN
fsr-3924	37	5	would	would	AUX
fsr-3924	37	6	lead	lead	VERB
fsr-3924	37	7	to	to	ADP
fsr-3924	37	8	a	a	DET
fsr-3924	37	9	profit	profit	NOUN
fsr-3924	37	10	of	of	ADP
fsr-3924	37	11	$	$	SYM
fsr-3924	37	12	66,730	66,730	NUM
fsr-3924	37	13	while	while	SCONJ
fsr-3924	37	14	reducing	reduce	VERB
fsr-3924	37	15	risk	risk	NOUN
fsr-3924	37	16	.	.	PUNCT
fsr-3924	38	1	2	2	X
fsr-3924	38	2	.	.	X
fsr-3924	38	3	background	background	NOUN
fsr-3924	38	4	while	while	SCONJ
fsr-3924	38	5	individual	individual	ADJ
fsr-3924	38	6	stocks	stock	NOUN
fsr-3924	38	7	show	show	VERB
fsr-3924	38	8	only	only	ADV
fsr-3924	38	9	a	a	DET
fsr-3924	38	10	low	low	ADJ
fsr-3924	38	11	predictability	predictability	NOUN
fsr-3924	38	12	,	,	PUNCT
fsr-3924	38	13	when	when	SCONJ
fsr-3924	38	14	these	these	DET
fsr-3924	38	15	stocks	stock	NOUN
fsr-3924	38	16	are	be	AUX
fsr-3924	38	17	combined	combine	VERB
fsr-3924	38	18	into	into	ADP
fsr-3924	38	19	portfolios	portfolio	NOUN
fsr-3924	38	20	,	,	PUNCT
fsr-3924	38	21	the	the	DET
fsr-3924	38	22	predictability	predictability	NOUN
fsr-3924	38	23	may	may	AUX
fsr-3924	38	24	be	be	AUX
fsr-3924	38	25	higher	high	ADJ
fsr-3924	38	26	or	or	CCONJ
fsr-3924	38	27	even	even	ADV
fsr-3924	38	28	different	different	ADJ
fsr-3924	38	29	in	in	ADP
fsr-3924	38	30	nature	nature	NOUN
fsr-3924	38	31	.	.	PUNCT
fsr-3924	39	1	lo	lo	NOUN
fsr-3924	39	2	and	and	CCONJ
fsr-3924	39	3	mackinlay	mackinlay	NOUN
fsr-3924	39	4	(	(	PUNCT
fsr-3924	39	5	1999	1999	NUM
fsr-3924	39	6	)	)	PUNCT
fsr-3924	39	7	found	find	VERB
fsr-3924	39	8	this	this	PRON
fsr-3924	39	9	for	for	ADP
fsr-3924	39	10	small	small	ADJ
fsr-3924	39	11	stocks	stock	NOUN
fsr-3924	39	12	.	.	PUNCT
fsr-3924	40	1	small	small	ADJ
fsr-3924	40	2	stocks	stock	NOUN
fsr-3924	40	3	had	have	VERB
fsr-3924	40	4	a	a	DET
fsr-3924	40	5	low	low	ADJ
fsr-3924	40	6	correlation	correlation	NOUN
fsr-3924	40	7	with	with	ADP
fsr-3924	40	8	a	a	DET
fsr-3924	40	9	lagged	lag	VERB
fsr-3924	40	10	index	index	NOUN
fsr-3924	40	11	of	of	ADP
fsr-3924	40	12	larger	large	ADJ
fsr-3924	40	13	stocks	stock	NOUN
fsr-3924	40	14	and	and	CCONJ
fsr-3924	40	15	tended	tend	VERB
fsr-3924	40	16	to	to	PART
fsr-3924	40	17	have	have	VERB
fsr-3924	40	18	a	a	DET
fsr-3924	40	19	negative	negative	ADJ
fsr-3924	40	20	autocorrelation	autocorrelation	NOUN
fsr-3924	40	21	over	over	ADP
fsr-3924	40	22	short	short	ADJ
fsr-3924	40	23	periods	period	NOUN
fsr-3924	40	24	.	.	PUNCT
fsr-3924	41	1	this	this	PRON
fsr-3924	41	2	220	220	NUM
fsr-3924	41	3	e.m	e.m	PROPN
fsr-3924	41	4	.	.	PROPN
fsr-3924	41	5	miller	miller	PROPN
fsr-3924	41	6	,	,	PUNCT
fsr-3924	41	7	l.j	l.j	PROPN
fsr-3924	41	8	.	.	PROPN
fsr-3924	41	9	prather	prather	PROPN
fsr-3924	41	10	/	/	SYM
fsr-3924	41	11	financial	financial	ADJ
fsr-3924	41	12	services	service	NOUN
fsr-3924	41	13	review	review	VERB
fsr-3924	41	14	9	9	NUM
fsr-3924	41	15	(	(	PUNCT
fsr-3924	41	16	2000	2000	NUM
fsr-3924	41	17	)	)	PUNCT
fsr-3924	42	1	219–230	219–230	NUM
fsr-3924	42	2	is	be	AUX
fsr-3924	42	3	probably	probably	ADV
fsr-3924	42	4	the	the	DET
fsr-3924	42	5	result	result	NOUN
fsr-3924	42	6	of	of	ADP
fsr-3924	42	7	idiosyncratic	idiosyncratic	ADJ
fsr-3924	42	8	risk	risk	NOUN
fsr-3924	42	9	.	.	PUNCT
fsr-3924	43	1	however	however	ADV
fsr-3924	43	2	,	,	PUNCT
fsr-3924	43	3	when	when	SCONJ
fsr-3924	43	4	the	the	DET
fsr-3924	43	5	stocks	stock	NOUN
fsr-3924	43	6	were	be	AUX
fsr-3924	43	7	combined	combine	VERB
fsr-3924	43	8	into	into	ADP
fsr-3924	43	9	portfolios	portfolio	NOUN
fsr-3924	43	10	,	,	PUNCT
fsr-3924	43	11	they	they	PRON
fsr-3924	43	12	showed	show	VERB
fsr-3924	43	13	an	an	DET
fsr-3924	43	14	appreciable	appreciable	ADJ
fsr-3924	43	15	positive	positive	ADJ
fsr-3924	43	16	correlation	correlation	NOUN
fsr-3924	43	17	with	with	ADP
fsr-3924	43	18	the	the	DET
fsr-3924	43	19	earlier	early	ADJ
fsr-3924	43	20	performance	performance	NOUN
fsr-3924	43	21	of	of	ADP
fsr-3924	43	22	large	large	ADJ
fsr-3924	43	23	stock	stock	NOUN
fsr-3924	43	24	indices	index	NOUN
fsr-3924	43	25	.	.	PUNCT
fsr-3924	44	1	this	this	DET
fsr-3924	44	2	results	result	VERB
fsr-3924	44	3	because	because	SCONJ
fsr-3924	44	4	the	the	DET
fsr-3924	44	5	noise	noise	NOUN
fsr-3924	44	6	in	in	ADP
fsr-3924	44	7	the	the	DET
fsr-3924	44	8	time	time	NOUN
fsr-3924	44	9	series	series	NOUN
fsr-3924	44	10	of	of	ADP
fsr-3924	44	11	individual	individual	ADJ
fsr-3924	44	12	stocks	stock	NOUN
fsr-3924	44	13	is	be	AUX
fsr-3924	44	14	diversified	diversify	VERB
fsr-3924	44	15	away	away	ADV
fsr-3924	44	16	when	when	SCONJ
fsr-3924	44	17	the	the	DET
fsr-3924	44	18	stocks	stock	NOUN
fsr-3924	44	19	are	be	AUX
fsr-3924	44	20	combined	combine	VERB
fsr-3924	44	21	into	into	ADP
fsr-3924	44	22	portfolios	portfolio	NOUN
fsr-3924	44	23	,	,	PUNCT
fsr-3924	44	24	leaving	leave	VERB
fsr-3924	44	25	systematic	systematic	ADJ
fsr-3924	44	26	effects	effect	NOUN
fsr-3924	44	27	to	to	PART
fsr-3924	44	28	be	be	AUX
fsr-3924	44	29	revealed	reveal	VERB
fsr-3924	44	30	.	.	PUNCT
fsr-3924	45	1	miller	miller	PROPN
fsr-3924	45	2	and	and	CCONJ
fsr-3924	45	3	prather	prather	PROPN
fsr-3924	45	4	(	(	PUNCT
fsr-3924	45	5	1999	1999	NUM
fsr-3924	45	6	)	)	PUNCT
fsr-3924	45	7	show	show	VERB
fsr-3924	45	8	that	that	SCONJ
fsr-3924	45	9	studying	study	VERB
fsr-3924	45	10	mutual	mutual	ADJ
fsr-3924	45	11	funds	fund	NOUN
fsr-3924	45	12	is	be	AUX
fsr-3924	45	13	one	one	NUM
fsr-3924	45	14	way	way	NOUN
fsr-3924	45	15	to	to	PART
fsr-3924	45	16	quickly	quickly	ADV
fsr-3924	45	17	study	study	VERB
fsr-3924	45	18	portfolios	portfolio	NOUN
fsr-3924	45	19	,	,	PUNCT
fsr-3924	45	20	since	since	SCONJ
fsr-3924	45	21	each	each	DET
fsr-3924	45	22	fund	fund	NOUN
fsr-3924	45	23	represents	represent	VERB
fsr-3924	45	24	a	a	DET
fsr-3924	45	25	portfolio	portfolio	NOUN
fsr-3924	45	26	.	.	PUNCT
fsr-3924	46	1	further	far	ADV
fsr-3924	46	2	,	,	PUNCT
fsr-3924	46	3	they	they	PRON
fsr-3924	46	4	show	show	VERB
fsr-3924	46	5	that	that	SCONJ
fsr-3924	46	6	,	,	PUNCT
fsr-3924	46	7	on	on	ADP
fsr-3924	46	8	average	average	ADJ
fsr-3924	46	9	,	,	PUNCT
fsr-3924	46	10	exploitable	exploitable	ADJ
fsr-3924	46	11	regularities	regularity	NOUN
fsr-3924	46	12	exist	exist	VERB
fsr-3924	46	13	.	.	PUNCT
fsr-3924	47	1	this	this	PRON
fsr-3924	47	2	is	be	AUX
fsr-3924	47	3	important	important	ADJ
fsr-3924	47	4	since	since	SCONJ
fsr-3924	47	5	mutual	mutual	ADJ
fsr-3924	47	6	funds	fund	NOUN
fsr-3924	47	7	can	can	AUX
fsr-3924	47	8	be	be	AUX
fsr-3924	47	9	frequently	frequently	ADV
fsr-3924	47	10	traded	trade	VERB
fsr-3924	47	11	with	with	ADP
fsr-3924	47	12	negligible	negligible	ADJ
fsr-3924	47	13	costs	cost	NOUN
fsr-3924	47	14	.	.	PUNCT
fsr-3924	48	1	within	within	ADP
fsr-3924	48	2	a	a	DET
fsr-3924	48	3	fund	fund	NOUN
fsr-3924	48	4	family	family	NOUN
fsr-3924	48	5	,	,	PUNCT
fsr-3924	48	6	transfers	transfer	NOUN
fsr-3924	48	7	can	can	AUX
fsr-3924	48	8	usually	usually	ADV
fsr-3924	48	9	be	be	AUX
fsr-3924	48	10	made	make	VERB
fsr-3924	48	11	by	by	ADP
fsr-3924	48	12	phone	phone	NOUN
fsr-3924	48	13	at	at	ADP
fsr-3924	48	14	no	no	DET
fsr-3924	48	15	cost	cost	NOUN
fsr-3924	48	16	.	.	PUNCT
fsr-3924	49	1	even	even	ADV
fsr-3924	49	2	between	between	ADP
fsr-3924	49	3	fund	fund	NOUN
fsr-3924	49	4	families	family	NOUN
fsr-3924	49	5	,	,	PUNCT
fsr-3924	49	6	trades	trade	NOUN
fsr-3924	49	7	can	can	AUX
fsr-3924	49	8	often	often	ADV
fsr-3924	49	9	be	be	AUX
fsr-3924	49	10	made	make	VERB
fsr-3924	49	11	at	at	ADP
fsr-3924	49	12	zero	zero	NUM
fsr-3924	49	13	or	or	CCONJ
fsr-3924	49	14	low	low	ADJ
fsr-3924	49	15	cost	cost	NOUN
fsr-3924	49	16	.	.	PUNCT
fsr-3924	50	1	usually	usually	ADV
fsr-3924	50	2	one	one	PRON
fsr-3924	50	3	can	can	AUX
fsr-3924	50	4	sell	sell	VERB
fsr-3924	50	5	shares	share	NOUN
fsr-3924	50	6	in	in	ADP
fsr-3924	50	7	a	a	DET
fsr-3924	50	8	mutual	mutual	ADJ
fsr-3924	50	9	fund	fund	NOUN
fsr-3924	50	10	back	back	ADV
fsr-3924	50	11	to	to	ADP
fsr-3924	50	12	the	the	DET
fsr-3924	50	13	fund	fund	NOUN
fsr-3924	50	14	for	for	ADP
fsr-3924	50	15	net	net	ADJ
fsr-3924	50	16	asset	asset	NOUN
fsr-3924	50	17	value	value	NOUN
fsr-3924	50	18	and	and	CCONJ
fsr-3924	50	19	the	the	DET
fsr-3924	50	20	proceeds	proceed	NOUN
fsr-3924	50	21	can	can	AUX
fsr-3924	50	22	then	then	ADV
fsr-3924	50	23	be	be	AUX
fsr-3924	50	24	reinvested	reinveste	VERB
fsr-3924	50	25	in	in	ADP
fsr-3924	50	26	a	a	DET
fsr-3924	50	27	new	new	ADJ
fsr-3924	50	28	no	no	DET
fsr-3924	50	29	-	-	PUNCT
fsr-3924	50	30	load	load	NOUN
fsr-3924	50	31	fund	fund	NOUN
fsr-3924	50	32	at	at	ADP
fsr-3924	50	33	no	no	DET
fsr-3924	50	34	expense	expense	NOUN
fsr-3924	50	35	.	.	PUNCT
fsr-3924	51	1	retirement	retirement	NOUN
fsr-3924	51	2	annuities	annuity	NOUN
fsr-3924	51	3	function	function	VERB
fsr-3924	51	4	in	in	ADP
fsr-3924	51	5	much	much	ADV
fsr-3924	51	6	the	the	DET
fsr-3924	51	7	same	same	ADJ
fsr-3924	51	8	way	way	NOUN
fsr-3924	51	9	as	as	ADP
fsr-3924	51	10	mutual	mutual	ADJ
fsr-3924	51	11	funds	fund	NOUN
fsr-3924	51	12	;	;	PUNCT
fsr-3924	51	13	therefore	therefore	ADV
fsr-3924	51	14	,	,	PUNCT
fsr-3924	51	15	they	they	PRON
fsr-3924	51	16	are	be	AUX
fsr-3924	51	17	expected	expect	VERB
fsr-3924	51	18	to	to	PART
fsr-3924	51	19	exhibit	exhibit	VERB
fsr-3924	51	20	similar	similar	ADJ
fsr-3924	51	21	patterns	pattern	NOUN
fsr-3924	51	22	.	.	PUNCT
fsr-3924	52	1	a	a	DET
fsr-3924	52	2	benefit	benefit	NOUN
fsr-3924	52	3	of	of	ADP
fsr-3924	52	4	using	use	VERB
fsr-3924	52	5	retirement	retirement	NOUN
fsr-3924	52	6	annuities	annuity	NOUN
fsr-3924	52	7	to	to	PART
fsr-3924	52	8	exploit	exploit	VERB
fsr-3924	52	9	predictable	predictable	ADJ
fsr-3924	52	10	patterns	pattern	NOUN
fsr-3924	52	11	in	in	ADP
fsr-3924	52	12	security	security	NOUN
fsr-3924	52	13	returns	return	NOUN
fsr-3924	52	14	,	,	PUNCT
fsr-3924	52	15	over	over	ADP
fsr-3924	52	16	individual	individual	ADJ
fsr-3924	52	17	stocks	stock	NOUN
fsr-3924	52	18	or	or	CCONJ
fsr-3924	52	19	even	even	ADV
fsr-3924	52	20	mutual	mutual	ADJ
fsr-3924	52	21	funds	fund	NOUN
fsr-3924	52	22	,	,	PUNCT
fsr-3924	52	23	is	be	AUX
fsr-3924	52	24	the	the	DET
fsr-3924	52	25	lack	lack	NOUN
fsr-3924	52	26	of	of	ADP
fsr-3924	52	27	taxes	taxis	NOUN
fsr-3924	52	28	and	and	CCONJ
fsr-3924	52	29	transaction	transaction	NOUN
fsr-3924	52	30	costs	cost	NOUN
fsr-3924	52	31	.	.	PUNCT
fsr-3924	53	1	trading	trade	VERB
fsr-3924	53	2	mutual	mutual	ADJ
fsr-3924	53	3	funds	fund	NOUN
fsr-3924	53	4	,	,	PUNCT
fsr-3924	53	5	or	or	CCONJ
fsr-3924	53	6	retirement	retirement	NOUN
fsr-3924	53	7	annuities	annuity	NOUN
fsr-3924	53	8	,	,	PUNCT
fsr-3924	53	9	lacks	lack	VERB
fsr-3924	53	10	the	the	DET
fsr-3924	53	11	same	same	ADJ
fsr-3924	53	12	self	self	NOUN
fsr-3924	53	13	-	-	PUNCT
fsr-3924	53	14	correcting	correct	VERB
fsr-3924	53	15	forces	force	NOUN
fsr-3924	53	16	that	that	PRON
fsr-3924	53	17	stock	stock	NOUN
fsr-3924	53	18	trading	trading	NOUN
fsr-3924	53	19	has	have	VERB
fsr-3924	53	20	.	.	PUNCT
fsr-3924	54	1	an	an	DET
fsr-3924	54	2	example	example	NOUN
fsr-3924	54	3	can	can	AUX
fsr-3924	54	4	illustrate	illustrate	VERB
fsr-3924	54	5	the	the	DET
fsr-3924	54	6	self	self	NOUN
fsr-3924	54	7	-	-	PUNCT
fsr-3924	54	8	correcting	correct	VERB
fsr-3924	54	9	nature	nature	NOUN
fsr-3924	54	10	of	of	ADP
fsr-3924	54	11	trading	trading	NOUN
fsr-3924	54	12	.	.	PUNCT
fsr-3924	55	1	suppose	suppose	VERB
fsr-3924	55	2	that	that	SCONJ
fsr-3924	55	3	a	a	DET
fsr-3924	55	4	rule	rule	NOUN
fsr-3924	55	5	is	be	AUX
fsr-3924	55	6	found	find	VERB
fsr-3924	55	7	that	that	SCONJ
fsr-3924	55	8	predicts	predict	VERB
fsr-3924	55	9	that	that	SCONJ
fsr-3924	55	10	growth	growth	NOUN
fsr-3924	55	11	stocks	stock	NOUN
fsr-3924	55	12	will	will	AUX
fsr-3924	55	13	rise	rise	VERB
fsr-3924	55	14	by	by	ADP
fsr-3924	55	15	an	an	DET
fsr-3924	55	16	appreciable	appreciable	ADJ
fsr-3924	55	17	amount	amount	NOUN
fsr-3924	55	18	from	from	ADP
fsr-3924	55	19	tuesday	tuesday	PROPN
fsr-3924	55	20	’s	’s	PART
fsr-3924	55	21	close	close	ADV
fsr-3924	55	22	to	to	ADP
fsr-3924	55	23	wednesday	wednesday	PROPN
fsr-3924	55	24	’s	’s	PART
fsr-3924	55	25	close	close	ADJ
fsr-3924	55	26	.	.	PUNCT
fsr-3924	56	1	a	a	DET
fsr-3924	56	2	single	single	ADJ
fsr-3924	56	3	investor	investor	NOUN
fsr-3924	56	4	may	may	AUX
fsr-3924	56	5	be	be	AUX
fsr-3924	56	6	able	able	ADJ
fsr-3924	56	7	to	to	PART
fsr-3924	56	8	profit	profit	VERB
fsr-3924	56	9	from	from	ADP
fsr-3924	56	10	this	this	DET
fsr-3924	56	11	rule	rule	NOUN
fsr-3924	56	12	by	by	ADP
fsr-3924	56	13	buying	buy	VERB
fsr-3924	56	14	at	at	ADP
fsr-3924	56	15	the	the	DET
fsr-3924	56	16	close	close	NOUN
fsr-3924	56	17	on	on	ADP
fsr-3924	56	18	tuesday	tuesday	PROPN
fsr-3924	56	19	and	and	CCONJ
fsr-3924	56	20	selling	sell	VERB
fsr-3924	56	21	at	at	ADP
fsr-3924	56	22	wednesday	wednesday	PROPN
fsr-3924	56	23	close	close	ADJ
fsr-3924	56	24	.	.	PUNCT
fsr-3924	57	1	however	however	ADV
fsr-3924	57	2	,	,	PUNCT
fsr-3924	57	3	if	if	SCONJ
fsr-3924	57	4	many	many	ADJ
fsr-3924	57	5	investors	investor	NOUN
fsr-3924	57	6	discover	discover	VERB
fsr-3924	57	7	the	the	DET
fsr-3924	57	8	rule	rule	NOUN
fsr-3924	57	9	,	,	PUNCT
fsr-3924	57	10	and	and	CCONJ
fsr-3924	57	11	buy	buy	VERB
fsr-3924	57	12	at	at	ADP
fsr-3924	57	13	tuesday	tuesday	PROPN
fsr-3924	57	14	’s	’s	PART
fsr-3924	57	15	close	close	ADV
fsr-3924	57	16	and	and	CCONJ
fsr-3924	57	17	sell	sell	VERB
fsr-3924	57	18	at	at	ADP
fsr-3924	57	19	wednesday	wednesday	PROPN
fsr-3924	57	20	’s	’s	PART
fsr-3924	57	21	close	close	ADJ
fsr-3924	57	22	,	,	PUNCT
fsr-3924	57	23	they	they	PRON
fsr-3924	57	24	will	will	AUX
fsr-3924	57	25	bid	bid	VERB
fsr-3924	57	26	the	the	DET
fsr-3924	57	27	tuesday	tuesday	PROPN
fsr-3924	57	28	’s	’s	PART
fsr-3924	57	29	closing	closing	NOUN
fsr-3924	57	30	price	price	NOUN
fsr-3924	57	31	up	up	ADV
fsr-3924	57	32	and	and	CCONJ
fsr-3924	57	33	lower	low	ADJ
fsr-3924	57	34	wednesday	wednesday	PROPN
fsr-3924	57	35	’s	’s	PART
fsr-3924	57	36	closing	closing	NOUN
fsr-3924	57	37	price	price	NOUN
fsr-3924	57	38	,	,	PUNCT
fsr-3924	57	39	tending	tend	VERB
fsr-3924	57	40	to	to	PART
fsr-3924	57	41	eliminate	eliminate	VERB
fsr-3924	57	42	the	the	DET
fsr-3924	57	43	effect	effect	NOUN
fsr-3924	57	44	.	.	PUNCT
fsr-3924	58	1	the	the	DET
fsr-3924	58	2	same	same	ADJ
fsr-3924	58	3	effect	effect	NOUN
fsr-3924	58	4	that	that	PRON
fsr-3924	58	5	produces	produce	VERB
fsr-3924	58	6	the	the	DET
fsr-3924	58	7	predictability	predictability	NOUN
fsr-3924	58	8	in	in	ADP
fsr-3924	58	9	the	the	DET
fsr-3924	58	10	stock	stock	NOUN
fsr-3924	58	11	prices	price	NOUN
fsr-3924	58	12	would	would	AUX
fsr-3924	58	13	be	be	AUX
fsr-3924	58	14	expected	expect	VERB
fsr-3924	58	15	to	to	PART
fsr-3924	58	16	produce	produce	VERB
fsr-3924	58	17	predictability	predictability	NOUN
fsr-3924	58	18	in	in	ADP
fsr-3924	58	19	the	the	DET
fsr-3924	58	20	net	net	ADJ
fsr-3924	58	21	asset	asset	NOUN
fsr-3924	58	22	values	value	NOUN
fsr-3924	58	23	of	of	ADP
fsr-3924	58	24	a	a	DET
fsr-3924	58	25	mutual	mutual	ADJ
fsr-3924	58	26	fund	fund	NOUN
fsr-3924	58	27	or	or	CCONJ
fsr-3924	58	28	retirement	retirement	NOUN
fsr-3924	58	29	annuity	annuity	NOUN
fsr-3924	58	30	.	.	PUNCT
fsr-3924	59	1	thus	thus	ADV
fsr-3924	59	2	,	,	PUNCT
fsr-3924	59	3	an	an	DET
fsr-3924	59	4	investor	investor	NOUN
fsr-3924	59	5	might	might	AUX
fsr-3924	59	6	be	be	AUX
fsr-3924	59	7	able	able	ADJ
fsr-3924	59	8	to	to	PART
fsr-3924	59	9	make	make	VERB
fsr-3924	59	10	a	a	DET
fsr-3924	59	11	profit	profit	NOUN
fsr-3924	59	12	by	by	ADP
fsr-3924	59	13	buying	buy	VERB
fsr-3924	59	14	the	the	DET
fsr-3924	59	15	mutual	mutual	ADJ
fsr-3924	59	16	fund	fund	NOUN
fsr-3924	59	17	,	,	PUNCT
fsr-3924	59	18	or	or	CCONJ
fsr-3924	59	19	retirement	retirement	NOUN
fsr-3924	59	20	annuity	annuity	NOUN
fsr-3924	59	21	,	,	PUNCT
fsr-3924	59	22	at	at	ADP
fsr-3924	59	23	the	the	DET
fsr-3924	59	24	close	close	NOUN
fsr-3924	59	25	on	on	ADP
fsr-3924	59	26	tuesday	tuesday	PROPN
fsr-3924	59	27	(	(	PUNCT
fsr-3924	59	28	done	do	VERB
fsr-3924	59	29	by	by	ADP
fsr-3924	59	30	a	a	DET
fsr-3924	59	31	phone	phone	NOUN
fsr-3924	59	32	call	call	NOUN
fsr-3924	59	33	before	before	ADP
fsr-3924	59	34	the	the	DET
fsr-3924	59	35	close	close	NOUN
fsr-3924	59	36	)	)	PUNCT
fsr-3924	59	37	and	and	CCONJ
fsr-3924	59	38	then	then	ADV
fsr-3924	59	39	selling	sell	VERB
fsr-3924	59	40	it	it	PRON
fsr-3924	59	41	at	at	ADP
fsr-3924	59	42	the	the	DET
fsr-3924	59	43	close	close	NOUN
fsr-3924	59	44	on	on	ADP
fsr-3924	59	45	wednesday	wednesday	PROPN
fsr-3924	59	46	.	.	PUNCT
fsr-3924	60	1	clearly	clearly	ADV
fsr-3924	60	2	,	,	PUNCT
fsr-3924	60	3	a	a	DET
fsr-3924	60	4	single	single	ADJ
fsr-3924	60	5	investor	investor	NOUN
fsr-3924	60	6	could	could	AUX
fsr-3924	60	7	profit	profit	VERB
fsr-3924	60	8	from	from	ADP
fsr-3924	60	9	such	such	ADJ
fsr-3924	60	10	predictability	predictability	NOUN
fsr-3924	60	11	.	.	PUNCT
fsr-3924	61	1	however	however	ADV
fsr-3924	61	2	,	,	PUNCT
fsr-3924	61	3	large	large	ADJ
fsr-3924	61	4	numbers	number	NOUN
fsr-3924	61	5	of	of	ADP
fsr-3924	61	6	investors	investor	NOUN
fsr-3924	61	7	might	might	AUX
fsr-3924	61	8	also	also	ADV
fsr-3924	61	9	profit	profit	VERB
fsr-3924	61	10	from	from	ADP
fsr-3924	61	11	it	it	PRON
fsr-3924	61	12	.	.	PUNCT
fsr-3924	62	1	imagine	imagine	VERB
fsr-3924	62	2	investors	investor	NOUN
fsr-3924	62	3	moving	move	VERB
fsr-3924	62	4	a	a	DET
fsr-3924	62	5	sum	sum	NOUN
fsr-3924	62	6	of	of	ADP
fsr-3924	62	7	money	money	NOUN
fsr-3924	62	8	that	that	PRON
fsr-3924	62	9	would	would	AUX
fsr-3924	62	10	eliminate	eliminate	VERB
fsr-3924	62	11	the	the	DET
fsr-3924	62	12	effect	effect	NOUN
fsr-3924	62	13	if	if	SCONJ
fsr-3924	62	14	the	the	DET
fsr-3924	62	15	trading	trading	NOUN
fsr-3924	62	16	were	be	AUX
fsr-3924	62	17	done	do	VERB
fsr-3924	62	18	directly	directly	ADV
fsr-3924	62	19	in	in	ADP
fsr-3924	62	20	stocks	stock	NOUN
fsr-3924	62	21	.	.	PUNCT
fsr-3924	63	1	the	the	DET
fsr-3924	63	2	same	same	ADJ
fsr-3924	63	3	trading	trading	NOUN
fsr-3924	63	4	would	would	AUX
fsr-3924	63	5	be	be	AUX
fsr-3924	63	6	unlikely	unlikely	ADJ
fsr-3924	63	7	to	to	PART
fsr-3924	63	8	eliminate	eliminate	VERB
fsr-3924	63	9	the	the	DET
fsr-3924	63	10	effect	effect	NOUN
fsr-3924	63	11	if	if	SCONJ
fsr-3924	63	12	the	the	DET
fsr-3924	63	13	trading	trading	NOUN
fsr-3924	63	14	was	be	AUX
fsr-3924	63	15	done	do	VERB
fsr-3924	63	16	in	in	ADP
fsr-3924	63	17	mutual	mutual	ADJ
fsr-3924	63	18	funds	fund	NOUN
fsr-3924	63	19	or	or	CCONJ
fsr-3924	63	20	retirement	retirement	NOUN
fsr-3924	63	21	annuities	annuity	NOUN
fsr-3924	63	22	.	.	PUNCT
fsr-3924	64	1	the	the	DET
fsr-3924	64	2	reason	reason	NOUN
fsr-3924	64	3	is	be	AUX
fsr-3924	64	4	that	that	SCONJ
fsr-3924	64	5	the	the	DET
fsr-3924	64	6	fund	fund	NOUN
fsr-3924	64	7	manager	manager	NOUN
fsr-3924	64	8	does	do	AUX
fsr-3924	64	9	not	not	PART
fsr-3924	64	10	have	have	VERB
fsr-3924	64	11	the	the	DET
fsr-3924	64	12	influx	influx	NOUN
fsr-3924	64	13	of	of	ADP
fsr-3924	64	14	funds	fund	NOUN
fsr-3924	64	15	until	until	ADP
fsr-3924	64	16	after	after	ADP
fsr-3924	64	17	the	the	DET
fsr-3924	64	18	close	close	ADJ
fsr-3924	64	19	tuesday	tuesday	PROPN
fsr-3924	64	20	(	(	PUNCT
fsr-3924	64	21	when	when	SCONJ
fsr-3924	64	22	the	the	DET
fsr-3924	64	23	trades	trade	NOUN
fsr-3924	64	24	are	be	AUX
fsr-3924	64	25	actually	actually	ADV
fsr-3924	64	26	done	do	VERB
fsr-3924	64	27	)	)	PUNCT
fsr-3924	64	28	.	.	PUNCT
fsr-3924	65	1	therefore	therefore	ADV
fsr-3924	65	2	,	,	PUNCT
fsr-3924	65	3	if	if	SCONJ
fsr-3924	65	4	the	the	DET
fsr-3924	65	5	fund	fund	NOUN
fsr-3924	65	6	manager	manager	NOUN
fsr-3924	65	7	takes	take	VERB
fsr-3924	65	8	no	no	DET
fsr-3924	65	9	action	action	NOUN
fsr-3924	65	10	until	until	SCONJ
fsr-3924	65	11	the	the	DET
fsr-3924	65	12	new	new	ADJ
fsr-3924	65	13	funds	fund	NOUN
fsr-3924	65	14	are	be	AUX
fsr-3924	65	15	received	receive	VERB
fsr-3924	65	16	,	,	PUNCT
fsr-3924	65	17	the	the	DET
fsr-3924	65	18	effect	effect	NOUN
fsr-3924	65	19	could	could	AUX
fsr-3924	65	20	continue	continue	VERB
fsr-3924	65	21	since	since	SCONJ
fsr-3924	65	22	no	no	DET
fsr-3924	65	23	action	action	NOUN
fsr-3924	65	24	was	be	AUX
fsr-3924	65	25	taken	take	VERB
fsr-3924	65	26	to	to	PART
fsr-3924	65	27	affect	affect	VERB
fsr-3924	65	28	stock	stock	NOUN
fsr-3924	65	29	prices	price	NOUN
fsr-3924	65	30	.	.	PUNCT
fsr-3924	66	1	alternately	alternately	ADV
fsr-3924	66	2	,	,	PUNCT
fsr-3924	66	3	suppose	suppose	VERB
fsr-3924	66	4	the	the	DET
fsr-3924	66	5	fund	fund	NOUN
fsr-3924	66	6	manager	manager	NOUN
fsr-3924	66	7	responds	respond	VERB
fsr-3924	66	8	to	to	ADP
fsr-3924	66	9	the	the	DET
fsr-3924	66	10	influx	influx	NOUN
fsr-3924	66	11	of	of	ADP
fsr-3924	66	12	new	new	ADJ
fsr-3924	66	13	funds	fund	NOUN
fsr-3924	66	14	by	by	ADP
fsr-3924	66	15	buying	buy	VERB
fsr-3924	66	16	more	more	ADJ
fsr-3924	66	17	stocks	stock	NOUN
fsr-3924	66	18	immediately	immediately	ADV
fsr-3924	66	19	.	.	PUNCT
fsr-3924	67	1	two	two	NUM
fsr-3924	67	2	possibilities	possibility	NOUN
fsr-3924	67	3	exist	exist	VERB
fsr-3924	67	4	.	.	PUNCT
fsr-3924	68	1	first	first	ADV
fsr-3924	68	2	,	,	PUNCT
fsr-3924	68	3	if	if	SCONJ
fsr-3924	68	4	his	his	PRON
fsr-3924	68	5	buying	buying	NOUN
fsr-3924	68	6	is	be	AUX
fsr-3924	68	7	too	too	ADV
fsr-3924	68	8	little	little	ADJ
fsr-3924	68	9	to	to	PART
fsr-3924	68	10	affect	affect	VERB
fsr-3924	68	11	the	the	DET
fsr-3924	68	12	prices	price	NOUN
fsr-3924	68	13	,	,	PUNCT
fsr-3924	68	14	the	the	DET
fsr-3924	68	15	effect	effect	NOUN
fsr-3924	68	16	continues	continue	VERB
fsr-3924	68	17	.	.	PUNCT
fsr-3924	69	1	however	however	ADV
fsr-3924	69	2	,	,	PUNCT
fsr-3924	69	3	if	if	SCONJ
fsr-3924	69	4	his	his	PRON
fsr-3924	69	5	buying	buying	NOUN
fsr-3924	69	6	is	be	AUX
fsr-3924	69	7	large	large	ADJ
fsr-3924	69	8	enough	enough	ADV
fsr-3924	69	9	to	to	PART
fsr-3924	69	10	affect	affect	VERB
fsr-3924	69	11	prices	price	NOUN
fsr-3924	69	12	,	,	PUNCT
fsr-3924	69	13	his	his	PRON
fsr-3924	69	14	buying	buying	NOUN
fsr-3924	69	15	raises	raise	VERB
fsr-3924	69	16	the	the	DET
fsr-3924	69	17	prices	price	NOUN
fsr-3924	69	18	of	of	ADP
fsr-3924	69	19	the	the	DET
fsr-3924	69	20	stocks	stock	NOUN
fsr-3924	69	21	his	his	PRON
fsr-3924	69	22	fund	fund	NOUN
fsr-3924	69	23	buys	buy	NOUN
fsr-3924	69	24	,	,	PUNCT
fsr-3924	69	25	and	and	CCONJ
fsr-3924	69	26	the	the	DET
fsr-3924	69	27	net	net	ADJ
fsr-3924	69	28	asset	asset	NOUN
fsr-3924	69	29	value	value	NOUN
fsr-3924	69	30	is	be	AUX
fsr-3924	69	31	even	even	ADV
fsr-3924	69	32	greater	great	ADJ
fsr-3924	69	33	when	when	SCONJ
fsr-3924	69	34	it	it	PRON
fsr-3924	69	35	is	be	AUX
fsr-3924	69	36	calculated	calculate	VERB
fsr-3924	69	37	at	at	ADP
fsr-3924	69	38	wednesday	wednesday	PROPN
fsr-3924	69	39	’s	’s	PART
fsr-3924	69	40	close	close	NOUN
fsr-3924	69	41	.	.	PUNCT
fsr-3924	70	1	the	the	DET
fsr-3924	70	2	trading	trading	NOUN
fsr-3924	70	3	actually	actually	ADV
fsr-3924	70	4	accentuated	accentuate	VERB
fsr-3924	70	5	the	the	DET
fsr-3924	70	6	price	price	NOUN
fsr-3924	70	7	change	change	NOUN
fsr-3924	70	8	(	(	PUNCT
fsr-3924	70	9	this	this	PRON
fsr-3924	70	10	would	would	AUX
fsr-3924	70	11	be	be	AUX
fsr-3924	70	12	especially	especially	ADV
fsr-3924	70	13	likely	likely	ADJ
fsr-3924	70	14	for	for	ADP
fsr-3924	70	15	a	a	DET
fsr-3924	70	16	specialized	specialized	ADJ
fsr-3924	70	17	fund	fund	NOUN
fsr-3924	70	18	whose	whose	DET
fsr-3924	70	19	manager	manager	NOUN
fsr-3924	70	20	buys	buy	VERB
fsr-3924	70	21	and	and	CCONJ
fsr-3924	70	22	sells	sell	VERB
fsr-3924	70	23	within	within	ADP
fsr-3924	70	24	a	a	DET
fsr-3924	70	25	small	small	ADJ
fsr-3924	70	26	list	list	NOUN
fsr-3924	70	27	of	of	ADP
fsr-3924	70	28	stocks	stock	NOUN
fsr-3924	70	29	that	that	PRON
fsr-3924	70	30	may	may	AUX
fsr-3924	70	31	be	be	AUX
fsr-3924	70	32	limited	limit	VERB
fsr-3924	70	33	in	in	ADP
fsr-3924	70	34	liquidity	liquidity	NOUN
fsr-3924	70	35	,	,	PUNCT
fsr-3924	70	36	such	such	ADJ
fsr-3924	70	37	as	as	ADP
fsr-3924	70	38	a	a	DET
fsr-3924	70	39	country	country	NOUN
fsr-3924	70	40	fund	fund	NOUN
fsr-3924	70	41	)	)	PUNCT
fsr-3924	70	42	.	.	PUNCT
fsr-3924	71	1	thus	thus	ADV
fsr-3924	71	2	,	,	PUNCT
fsr-3924	71	3	day	day	NOUN
fsr-3924	71	4	-	-	PUNCT
fsr-3924	71	5	to	to	ADP
fsr-3924	71	6	-	-	PUNCT
fsr-3924	71	7	day	day	NOUN
fsr-3924	71	8	predictabilities	predictability	NOUN
fsr-3924	71	9	could	could	AUX
fsr-3924	71	10	persist	persist	VERB
fsr-3924	71	11	even	even	ADV
fsr-3924	71	12	if	if	SCONJ
fsr-3924	71	13	they	they	PRON
fsr-3924	71	14	were	be	AUX
fsr-3924	71	15	known	know	VERB
fsr-3924	71	16	.	.	PUNCT
fsr-3924	72	1	221e.m	221e.m	X
fsr-3924	72	2	.	.	PUNCT
fsr-3924	73	1	miller	miller	PROPN
fsr-3924	73	2	,	,	PUNCT
fsr-3924	73	3	l.j	l.j	PROPN
fsr-3924	73	4	.	.	PROPN
fsr-3924	73	5	prather	prather	PROPN
fsr-3924	73	6	/	/	SYM
fsr-3924	73	7	financial	financial	ADJ
fsr-3924	73	8	services	service	NOUN
fsr-3924	73	9	review	review	VERB
fsr-3924	73	10	9	9	NUM
fsr-3924	73	11	(	(	PUNCT
fsr-3924	73	12	2000	2000	NUM
fsr-3924	73	13	)	)	PUNCT
fsr-3924	74	1	219–230	219–230	NUM
fsr-3924	74	2	3	3	NUM
fsr-3924	74	3	.	.	PUNCT
fsr-3924	74	4	data	datum	NOUN
fsr-3924	74	5	and	and	CCONJ
fsr-3924	74	6	methodology	methodology	NOUN
fsr-3924	74	7	3.1	3.1	NUM
fsr-3924	74	8	.	.	PUNCT
fsr-3924	74	9	data	datum	NOUN
fsr-3924	74	10	in	in	ADP
fsr-3924	74	11	order	order	NOUN
fsr-3924	74	12	to	to	PART
fsr-3924	74	13	ascertain	ascertain	VERB
fsr-3924	74	14	if	if	SCONJ
fsr-3924	74	15	predictabilities	predictability	NOUN
fsr-3924	74	16	in	in	ADP
fsr-3924	74	17	retirement	retirement	NOUN
fsr-3924	74	18	returns	return	NOUN
fsr-3924	74	19	exist	exist	VERB
fsr-3924	74	20	,	,	PUNCT
fsr-3924	74	21	we	we	PRON
fsr-3924	74	22	carry	carry	VERB
fsr-3924	74	23	out	out	ADP
fsr-3924	74	24	empirical	empirical	ADJ
fsr-3924	74	25	analysis	analysis	NOUN
fsr-3924	74	26	.	.	PUNCT
fsr-3924	75	1	the	the	DET
fsr-3924	75	2	sample	sample	NOUN
fsr-3924	75	3	consists	consist	VERB
fsr-3924	75	4	of	of	ADP
fsr-3924	75	5	1,453	1,453	NUM
fsr-3924	75	6	daily	daily	ADJ
fsr-3924	75	7	returns	return	NOUN
fsr-3924	75	8	on	on	ADP
fsr-3924	75	9	the	the	DET
fsr-3924	75	10	following	follow	VERB
fsr-3924	75	11	tiaa	tiaa	ADJ
fsr-3924	75	12	/	/	SYM
fsr-3924	75	13	cref	cref	NOUN
fsr-3924	75	14	retirement	retirement	NOUN
fsr-3924	75	15	annuities	annuity	NOUN
fsr-3924	75	16	:	:	PUNCT
fsr-3924	75	17	money	money	NOUN
fsr-3924	75	18	market	market	NOUN
fsr-3924	75	19	,	,	PUNCT
fsr-3924	75	20	bond	bond	NOUN
fsr-3924	75	21	,	,	PUNCT
fsr-3924	75	22	stock	stock	NOUN
fsr-3924	75	23	,	,	PUNCT
fsr-3924	75	24	index	index	NOUN
fsr-3924	75	25	,	,	PUNCT
fsr-3924	75	26	growth	growth	NOUN
fsr-3924	75	27	,	,	PUNCT
fsr-3924	75	28	and	and	CCONJ
fsr-3924	75	29	global	global	ADJ
fsr-3924	75	30	.	.	PUNCT
fsr-3924	76	1	daily	daily	ADJ
fsr-3924	76	2	return	return	VERB
fsr-3924	76	3	data	datum	NOUN
fsr-3924	76	4	for	for	ADP
fsr-3924	76	5	each	each	PRON
fsr-3924	76	6	of	of	ADP
fsr-3924	76	7	the	the	DET
fsr-3924	76	8	selected	select	VERB
fsr-3924	76	9	retirement	retirement	NOUN
fsr-3924	76	10	annuities	annuity	NOUN
fsr-3924	76	11	during	during	ADP
fsr-3924	76	12	the	the	DET
fsr-3924	76	13	period	period	NOUN
fsr-3924	76	14	may	may	AUX
fsr-3924	76	15	2	2	NUM
fsr-3924	76	16	,	,	PUNCT
fsr-3924	76	17	1994	1994	NUM
fsr-3924	76	18	through	through	ADP
fsr-3924	76	19	december	december	PROPN
fsr-3924	76	20	31	31	NUM
fsr-3924	76	21	,	,	PUNCT
fsr-3924	76	22	1999	1999	NUM
fsr-3924	76	23	was	be	AUX
fsr-3924	76	24	obtained	obtain	VERB
fsr-3924	76	25	from	from	ADP
fsr-3924	76	26	tiaa	tiaa	ADJ
fsr-3924	76	27	/	/	SYM
fsr-3924	76	28	cref	cref	NOUN
fsr-3924	76	29	.	.	PUNCT
fsr-3924	77	1	the	the	DET
fsr-3924	77	2	objectives	objective	NOUN
fsr-3924	77	3	of	of	ADP
fsr-3924	77	4	these	these	DET
fsr-3924	77	5	funds	fund	NOUN
fsr-3924	77	6	remained	remain	VERB
fsr-3924	77	7	constant	constant	ADJ
fsr-3924	77	8	during	during	ADP
fsr-3924	77	9	the	the	DET
fsr-3924	77	10	period	period	NOUN
fsr-3924	77	11	of	of	ADP
fsr-3924	77	12	our	our	PRON
fsr-3924	77	13	study	study	NOUN
fsr-3924	77	14	.	.	PUNCT
fsr-3924	78	1	3.2	3.2	NUM
fsr-3924	78	2	.	.	PUNCT
fsr-3924	78	3	computation	computation	NOUN
fsr-3924	78	4	of	of	ADP
fsr-3924	78	5	returns	return	NOUN
fsr-3924	78	6	daily	daily	ADJ
fsr-3924	78	7	returns	return	NOUN
fsr-3924	78	8	are	be	AUX
fsr-3924	78	9	computed	compute	VERB
fsr-3924	78	10	for	for	ADP
fsr-3924	78	11	each	each	DET
fsr-3924	78	12	retirement	retirement	NOUN
fsr-3924	78	13	annuity	annuity	NOUN
fsr-3924	78	14	by	by	ADP
fsr-3924	78	15	taking	take	VERB
fsr-3924	78	16	the	the	DET
fsr-3924	78	17	change	change	NOUN
fsr-3924	78	18	in	in	ADP
fsr-3924	78	19	net	net	ADJ
fsr-3924	78	20	asset	asset	NOUN
fsr-3924	78	21	value	value	NOUN
fsr-3924	78	22	(	(	PUNCT
fsr-3924	78	23	nav	nav	NOUN
fsr-3924	78	24	)	)	PUNCT
fsr-3924	78	25	for	for	ADP
fsr-3924	78	26	an	an	DET
fsr-3924	78	27	investment	investment	NOUN
fsr-3924	78	28	for	for	ADP
fsr-3924	78	29	each	each	PRON
fsr-3924	78	30	of	of	ADP
fsr-3924	78	31	the	the	DET
fsr-3924	78	32	1,453	1,453	NUM
fsr-3924	78	33	days	day	NOUN
fsr-3924	78	34	in	in	ADP
fsr-3924	78	35	our	our	PRON
fsr-3924	78	36	sample	sample	NOUN
fsr-3924	78	37	,	,	PUNCT
fsr-3924	78	38	as	as	SCONJ
fsr-3924	78	39	shown	show	VERB
fsr-3924	78	40	in	in	ADP
fsr-3924	78	41	eq	eq	ADP
fsr-3924	78	42	.	.	PUNCT
fsr-3924	79	1	(	(	PUNCT
fsr-3924	79	2	1	1	X
fsr-3924	79	3	)	)	PUNCT
fsr-3924	79	4	ri	ri	PROPN
fsr-3924	79	5	,	,	PUNCT
fsr-3924	79	6	t	t	PROPN
fsr-3924	79	7	5	5	NUM
fsr-3924	79	8	navi	navi	PROPN
fsr-3924	79	9	,	,	PUNCT
fsr-3924	79	10	t	t	PROPN
fsr-3924	79	11	2	2	NUM
fsr-3924	79	12	navi	navi	PROPN
fsr-3924	79	13	,	,	PUNCT
fsr-3924	79	14	t21	t21	PROPN
fsr-3924	79	15	navi	navi	PROPN
fsr-3924	79	16	,	,	PUNCT
fsr-3924	79	17	t21	t21	NOUN
fsr-3924	79	18	(	(	PUNCT
fsr-3924	79	19	1	1	NUM
fsr-3924	79	20	)	)	PUNCT
fsr-3924	79	21	where	where	SCONJ
fsr-3924	79	22	ri	ri	PROPN
fsr-3924	79	23	,	,	PUNCT
fsr-3924	79	24	t	t	PROPN
fsr-3924	79	25	is	be	AUX
fsr-3924	79	26	the	the	DET
fsr-3924	79	27	return	return	NOUN
fsr-3924	79	28	on	on	ADP
fsr-3924	79	29	retirement	retirement	NOUN
fsr-3924	79	30	annuity	annuity	NOUN
fsr-3924	79	31	i	i	PRON
fsr-3924	79	32	during	during	ADP
fsr-3924	79	33	day	day	NOUN
fsr-3924	79	34	t	t	PROPN
fsr-3924	79	35	,	,	PUNCT
fsr-3924	79	36	navi	navi	PROPN
fsr-3924	79	37	,	,	PUNCT
fsr-3924	79	38	t	t	PROPN
fsr-3924	79	39	is	be	AUX
fsr-3924	79	40	the	the	DET
fsr-3924	79	41	net	net	ADJ
fsr-3924	79	42	asset	asset	NOUN
fsr-3924	79	43	value	value	NOUN
fsr-3924	79	44	of	of	ADP
fsr-3924	79	45	an	an	DET
fsr-3924	79	46	investment	investment	NOUN
fsr-3924	79	47	in	in	ADP
fsr-3924	79	48	retirement	retirement	NOUN
fsr-3924	79	49	annuity	annuity	NOUN
fsr-3924	79	50	i	i	PRON
fsr-3924	79	51	at	at	ADP
fsr-3924	79	52	time	time	NOUN
fsr-3924	79	53	t.	t.	PROPN
fsr-3924	79	54	3.3	3.3	NUM
fsr-3924	79	55	.	.	PUNCT
fsr-3924	80	1	methodologies	methodology	NOUN
fsr-3924	80	2	employed	employ	VERB
fsr-3924	80	3	several	several	ADJ
fsr-3924	80	4	methodologies	methodology	NOUN
fsr-3924	80	5	have	have	AUX
fsr-3924	80	6	been	be	AUX
fsr-3924	80	7	employed	employ	VERB
fsr-3924	80	8	in	in	ADP
fsr-3924	80	9	the	the	DET
fsr-3924	80	10	literature	literature	NOUN
fsr-3924	80	11	to	to	PART
fsr-3924	80	12	ascertain	ascertain	VERB
fsr-3924	80	13	lead	lead	NOUN
fsr-3924	80	14	and	and	CCONJ
fsr-3924	80	15	lag	lag	NOUN
fsr-3924	80	16	relationships	relationship	NOUN
fsr-3924	80	17	.	.	PUNCT
fsr-3924	81	1	however	however	ADV
fsr-3924	81	2	,	,	PUNCT
fsr-3924	81	3	one	one	NUM
fsr-3924	81	4	of	of	ADP
fsr-3924	81	5	the	the	DET
fsr-3924	81	6	most	most	ADV
fsr-3924	81	7	popular	popular	ADJ
fsr-3924	81	8	is	be	AUX
fsr-3924	81	9	the	the	DET
fsr-3924	81	10	granger	granger	PROPN
fsr-3924	81	11	causality	causality	PROPN
fsr-3924	81	12	test	test	NOUN
fsr-3924	81	13	.	.	PUNCT
fsr-3924	82	1	the	the	DET
fsr-3924	82	2	popularity	popularity	NOUN
fsr-3924	82	3	of	of	ADP
fsr-3924	82	4	the	the	DET
fsr-3924	82	5	granger	granger	PROPN
fsr-3924	82	6	causality	causality	PROPN
fsr-3924	82	7	test	test	NOUN
fsr-3924	82	8	stems	stem	VERB
fsr-3924	82	9	from	from	ADP
fsr-3924	82	10	its	its	PRON
fsr-3924	82	11	ability	ability	NOUN
fsr-3924	82	12	to	to	PART
fsr-3924	82	13	use	use	VERB
fsr-3924	82	14	an	an	DET
fsr-3924	82	15	observable	observable	ADJ
fsr-3924	82	16	time	time	NOUN
fsr-3924	82	17	series	series	NOUN
fsr-3924	82	18	to	to	PART
fsr-3924	82	19	test	test	VERB
fsr-3924	82	20	whether	whether	SCONJ
fsr-3924	82	21	using	use	VERB
fsr-3924	82	22	information	information	NOUN
fsr-3924	82	23	contained	contain	VERB
fsr-3924	82	24	in	in	ADP
fsr-3924	82	25	that	that	DET
fsr-3924	82	26	time	time	NOUN
fsr-3924	82	27	series	series	PROPN
fsr-3924	82	28	would	would	AUX
fsr-3924	82	29	be	be	AUX
fsr-3924	82	30	beneficial	beneficial	ADJ
fsr-3924	82	31	in	in	ADP
fsr-3924	82	32	forecasting	forecast	VERB
fsr-3924	82	33	another	another	DET
fsr-3924	82	34	time	time	NOUN
fsr-3924	82	35	series	series	NOUN
fsr-3924	82	36	.	.	PUNCT
fsr-3924	83	1	granger	granger	PROPN
fsr-3924	83	2	’s	’s	PART
fsr-3924	83	3	(	(	PUNCT
fsr-3924	83	4	1969	1969	NUM
fsr-3924	83	5	)	)	PUNCT
fsr-3924	83	6	is	be	AUX
fsr-3924	83	7	the	the	DET
fsr-3924	83	8	only	only	ADJ
fsr-3924	83	9	established	establish	VERB
fsr-3924	83	10	method	method	NOUN
fsr-3924	83	11	that	that	PRON
fsr-3924	83	12	permits	permit	VERB
fsr-3924	83	13	testing	test	VERB
fsr-3924	83	14	whether	whether	SCONJ
fsr-3924	83	15	one	one	NUM
fsr-3924	83	16	portfolio	portfolio	NOUN
fsr-3924	83	17	’s	’s	PART
fsr-3924	83	18	returns	return	NOUN
fsr-3924	83	19	are	be	AUX
fsr-3924	83	20	predictable	predictable	ADJ
fsr-3924	83	21	by	by	ADP
fsr-3924	83	22	another	another	DET
fsr-3924	83	23	portfolio	portfolio	NOUN
fsr-3924	83	24	’s	’s	PART
fsr-3924	83	25	returns	return	NOUN
fsr-3924	83	26	after	after	ADP
fsr-3924	83	27	controlling	control	VERB
fsr-3924	83	28	for	for	ADP
fsr-3924	83	29	autocorrelation	autocorrelation	NOUN
fsr-3924	83	30	.	.	PUNCT
fsr-3924	84	1	therefore	therefore	ADV
fsr-3924	84	2	,	,	PUNCT
fsr-3924	84	3	it	it	PRON
fsr-3924	84	4	is	be	AUX
fsr-3924	84	5	useful	useful	ADJ
fsr-3924	84	6	in	in	ADP
fsr-3924	84	7	inferring	infer	VERB
fsr-3924	84	8	the	the	DET
fsr-3924	84	9	relative	relative	ADJ
fsr-3924	84	10	predictability	predictability	NOUN
fsr-3924	84	11	between	between	ADP
fsr-3924	84	12	stochastic	stochastic	ADJ
fsr-3924	84	13	variables	variable	NOUN
fsr-3924	84	14	to	to	PART
fsr-3924	84	15	ascertain	ascertain	VERB
fsr-3924	84	16	a	a	DET
fsr-3924	84	17	lead	lead	ADJ
fsr-3924	84	18	-	-	PUNCT
fsr-3924	84	19	lag	lag	NOUN
fsr-3924	84	20	structure	structure	NOUN
fsr-3924	84	21	.	.	PUNCT
fsr-3924	85	1	the	the	DET
fsr-3924	85	2	granger	granger	PROPN
fsr-3924	85	3	approach	approach	NOUN
fsr-3924	85	4	to	to	ADP
fsr-3924	85	5	the	the	DET
fsr-3924	85	6	question	question	NOUN
fsr-3924	85	7	of	of	ADP
fsr-3924	85	8	whether	whether	SCONJ
fsr-3924	85	9	x	x	PRON
fsr-3924	85	10	causes	cause	VERB
fsr-3924	85	11	y	y	PROPN
fsr-3924	85	12	is	be	AUX
fsr-3924	85	13	to	to	PART
fsr-3924	85	14	determine	determine	VERB
fsr-3924	85	15	the	the	DET
fsr-3924	85	16	amount	amount	NOUN
fsr-3924	85	17	of	of	ADP
fsr-3924	85	18	the	the	DET
fsr-3924	85	19	current	current	ADJ
fsr-3924	85	20	y	y	PROPN
fsr-3924	85	21	that	that	PRON
fsr-3924	85	22	can	can	AUX
fsr-3924	85	23	be	be	AUX
fsr-3924	85	24	explained	explain	VERB
fsr-3924	85	25	by	by	ADP
fsr-3924	85	26	past	past	ADJ
fsr-3924	85	27	values	value	NOUN
fsr-3924	85	28	of	of	ADP
fsr-3924	85	29	y	y	PROPN
fsr-3924	85	30	and	and	CCONJ
fsr-3924	85	31	then	then	ADV
fsr-3924	85	32	to	to	PART
fsr-3924	85	33	ascertain	ascertain	VERB
fsr-3924	85	34	whether	whether	SCONJ
fsr-3924	85	35	adding	add	VERB
fsr-3924	85	36	lagged	lag	VERB
fsr-3924	85	37	values	value	NOUN
fsr-3924	85	38	of	of	ADP
fsr-3924	85	39	x	x	PRON
fsr-3924	85	40	can	can	AUX
fsr-3924	85	41	improve	improve	VERB
fsr-3924	85	42	the	the	DET
fsr-3924	85	43	explanation	explanation	NOUN
fsr-3924	85	44	.	.	PUNCT
fsr-3924	86	1	y	y	PROPN
fsr-3924	86	2	is	be	AUX
fsr-3924	86	3	said	say	VERB
fsr-3924	86	4	to	to	PART
fsr-3924	86	5	be	be	AUX
fsr-3924	86	6	granger	granger	NOUN
fsr-3924	86	7	-	-	PUNCT
fsr-3924	86	8	caused	cause	VERB
fsr-3924	86	9	by	by	ADP
fsr-3924	86	10	x	x	PUNCT
fsr-3924	86	11	if	if	SCONJ
fsr-3924	86	12	x	x	PRON
fsr-3924	86	13	helps	help	VERB
fsr-3924	86	14	in	in	ADP
fsr-3924	86	15	the	the	DET
fsr-3924	86	16	prediction	prediction	NOUN
fsr-3924	86	17	of	of	ADP
fsr-3924	86	18	y	y	PROPN
fsr-3924	86	19	,	,	PUNCT
fsr-3924	86	20	or	or	CCONJ
fsr-3924	86	21	equivalently	equivalently	ADV
fsr-3924	86	22	if	if	SCONJ
fsr-3924	86	23	the	the	DET
fsr-3924	86	24	coefficients	coefficient	NOUN
fsr-3924	86	25	on	on	ADP
fsr-3924	86	26	the	the	DET
fsr-3924	86	27	lagged	lag	VERB
fsr-3924	86	28	xs	xs	PROPN
fsr-3924	86	29	are	be	AUX
fsr-3924	86	30	statistically	statistically	ADV
fsr-3924	86	31	significant	significant	ADJ
fsr-3924	86	32	.	.	PUNCT
fsr-3924	87	1	it	it	PRON
fsr-3924	87	2	is	be	AUX
fsr-3924	87	3	important	important	ADJ
fsr-3924	87	4	to	to	PART
fsr-3924	87	5	note	note	VERB
fsr-3924	87	6	that	that	SCONJ
fsr-3924	87	7	the	the	DET
fsr-3924	87	8	statement	statement	NOUN
fsr-3924	87	9	“	"	PUNCT
fsr-3924	87	10	x	x	PROPN
fsr-3924	87	11	granger	granger	NOUN
fsr-3924	87	12	causes	cause	VERB
fsr-3924	87	13	y	y	PRON
fsr-3924	87	14	”	"	PUNCT
fsr-3924	87	15	does	do	AUX
fsr-3924	87	16	not	not	PART
fsr-3924	87	17	imply	imply	VERB
fsr-3924	87	18	that	that	SCONJ
fsr-3924	87	19	y	y	PROPN
fsr-3924	87	20	is	be	AUX
fsr-3924	87	21	the	the	DET
fsr-3924	87	22	effect	effect	NOUN
fsr-3924	87	23	or	or	CCONJ
fsr-3924	87	24	the	the	DET
fsr-3924	87	25	result	result	NOUN
fsr-3924	87	26	of	of	ADP
fsr-3924	87	27	x.	x.	PROPN
fsr-3924	87	28	granger	granger	PROPN
fsr-3924	87	29	causality	causality	PROPN
fsr-3924	87	30	measures	measure	VERB
fsr-3924	87	31	information	information	NOUN
fsr-3924	87	32	content	content	NOUN
fsr-3924	87	33	but	but	CCONJ
fsr-3924	87	34	does	do	AUX
fsr-3924	87	35	not	not	PART
fsr-3924	87	36	indicate	indicate	VERB
fsr-3924	87	37	causality	causality	NOUN
fsr-3924	87	38	in	in	ADP
fsr-3924	87	39	the	the	DET
fsr-3924	87	40	common	common	ADJ
fsr-3924	87	41	use	use	NOUN
fsr-3924	87	42	of	of	ADP
fsr-3924	87	43	the	the	DET
fsr-3924	87	44	term	term	NOUN
fsr-3924	87	45	.	.	PUNCT
fsr-3924	88	1	formally	formally	ADV
fsr-3924	88	2	,	,	PUNCT
fsr-3924	88	3	a	a	DET
fsr-3924	88	4	time	time	NOUN
fsr-3924	88	5	series	series	NOUN
fsr-3924	88	6	{	{	PUNCT
fsr-3924	88	7	xt	xt	ADP
fsr-3924	88	8	}	}	PUNCT
fsr-3924	88	9	“	"	PUNCT
fsr-3924	88	10	granger	granger	PROPN
fsr-3924	88	11	causes	cause	VERB
fsr-3924	88	12	”	"	PUNCT
fsr-3924	88	13	another	another	DET
fsr-3924	88	14	time	time	NOUN
fsr-3924	88	15	series	series	PROPN
fsr-3924	88	16	{	{	PUNCT
fsr-3924	88	17	y	y	PROPN
fsr-3924	88	18	t	t	PROPN
fsr-3924	88	19	}	}	PUNCT
fsr-3924	88	20	if	if	SCONJ
fsr-3924	88	21	using	use	VERB
fsr-3924	88	22	past	past	ADJ
fsr-3924	88	23	values	value	NOUN
fsr-3924	88	24	of	of	ADP
fsr-3924	88	25	x	x	PRON
fsr-3924	88	26	can	can	AUX
fsr-3924	88	27	improve	improve	VERB
fsr-3924	88	28	the	the	DET
fsr-3924	88	29	forecast	forecast	NOUN
fsr-3924	88	30	of	of	ADP
fsr-3924	88	31	y.	y.	PROPN
fsr-3924	88	32	since	since	SCONJ
fsr-3924	88	33	the	the	DET
fsr-3924	88	34	objective	objective	NOUN
fsr-3924	88	35	of	of	ADP
fsr-3924	88	36	this	this	DET
fsr-3924	88	37	research	research	NOUN
fsr-3924	88	38	is	be	AUX
fsr-3924	88	39	to	to	PART
fsr-3924	88	40	determine	determine	VERB
fsr-3924	88	41	whether	whether	SCONJ
fsr-3924	88	42	past	past	ADJ
fsr-3924	88	43	returns	return	NOUN
fsr-3924	88	44	from	from	ADP
fsr-3924	88	45	one	one	NUM
fsr-3924	88	46	retirement	retirement	NOUN
fsr-3924	88	47	annuity	annuity	NOUN
fsr-3924	88	48	are	be	AUX
fsr-3924	88	49	useful	useful	ADJ
fsr-3924	88	50	in	in	ADP
fsr-3924	88	51	predicting	predict	VERB
fsr-3924	88	52	the	the	DET
fsr-3924	88	53	future	future	ADJ
fsr-3924	88	54	returns	return	NOUN
fsr-3924	88	55	of	of	ADP
fsr-3924	88	56	another	another	DET
fsr-3924	88	57	retirement	retirement	NOUN
fsr-3924	88	58	annuity	annuity	NOUN
fsr-3924	88	59	,	,	PUNCT
fsr-3924	88	60	this	this	DET
fsr-3924	88	61	paper	paper	NOUN
fsr-3924	88	62	follows	follow	VERB
fsr-3924	88	63	richardson	richardson	PROPN
fsr-3924	88	64	and	and	CCONJ
fsr-3924	88	65	peterson	peterson	PROPN
fsr-3924	88	66	(	(	PUNCT
fsr-3924	88	67	1999	1999	NUM
fsr-3924	88	68	)	)	PUNCT
fsr-3924	88	69	and	and	CCONJ
fsr-3924	88	70	uses	use	VERB
fsr-3924	88	71	techniques	technique	NOUN
fsr-3924	88	72	based	base	VERB
fsr-3924	88	73	upon	upon	SCONJ
fsr-3924	88	74	granger	granger	PROPN
fsr-3924	88	75	causality	causality	PROPN
fsr-3924	88	76	to	to	PART
fsr-3924	88	77	ascertain	ascertain	VERB
fsr-3924	88	78	lead	lead	NOUN
fsr-3924	88	79	and	and	CCONJ
fsr-3924	88	80	lag	lag	NOUN
fsr-3924	88	81	relationships	relationship	NOUN
fsr-3924	88	82	in	in	ADP
fsr-3924	88	83	returns	return	NOUN
fsr-3924	88	84	between	between	ADP
fsr-3924	88	85	various	various	ADJ
fsr-3924	88	86	retirement	retirement	NOUN
fsr-3924	88	87	annuities	annuity	NOUN
fsr-3924	88	88	.	.	PUNCT
fsr-3924	89	1	222	222	NUM
fsr-3924	89	2	e.m	e.m	PROPN
fsr-3924	89	3	.	.	PROPN
fsr-3924	89	4	miller	miller	PROPN
fsr-3924	89	5	,	,	PUNCT
fsr-3924	89	6	l.j	l.j	PROPN
fsr-3924	89	7	.	.	PROPN
fsr-3924	89	8	prather	prather	PROPN
fsr-3924	89	9	/	/	SYM
fsr-3924	89	10	financial	financial	ADJ
fsr-3924	89	11	services	service	NOUN
fsr-3924	89	12	review	review	VERB
fsr-3924	89	13	9	9	NUM
fsr-3924	89	14	(	(	PUNCT
fsr-3924	89	15	2000	2000	NUM
fsr-3924	89	16	)	)	PUNCT
fsr-3924	90	1	219–230	219–230	NUM
fsr-3924	90	2	our	our	PRON
fsr-3924	90	3	test	test	NOUN
fsr-3924	90	4	for	for	ADP
fsr-3924	90	5	return	return	NOUN
fsr-3924	90	6	predictability	predictability	NOUN
fsr-3924	90	7	uses	use	VERB
fsr-3924	90	8	eqs	eqs	PROPN
fsr-3924	90	9	.	.	PUNCT
fsr-3924	91	1	(	(	PUNCT
fsr-3924	91	2	2	2	NUM
fsr-3924	91	3	)	)	PUNCT
fsr-3924	91	4	and	and	CCONJ
fsr-3924	91	5	(	(	PUNCT
fsr-3924	91	6	3	3	NUM
fsr-3924	91	7	):	):	PUNCT
fsr-3924	91	8	ri	ri	PROPN
fsr-3924	91	9	,	,	PUNCT
fsr-3924	91	10	t	t	PROPN
fsr-3924	91	11	5	5	NUM
fsr-3924	91	12	a	a	DET
fsr-3924	91	13	1	1	NUM
fsr-3924	91	14	o	o	NOUN
fsr-3924	91	15	k51	k51	NOUN
fsr-3924	91	16	n	n	PROPN
fsr-3924	91	17	bi	bi	NOUN
fsr-3924	91	18	,	,	PUNCT
fsr-3924	91	19	k	k	PROPN
fsr-3924	91	20	ri	ri	PROPN
fsr-3924	91	21	,	,	PUNCT
fsr-3924	91	22	t2k	t2k	ADJ
fsr-3924	91	23	1	1	NUM
fsr-3924	91	24	o	o	NOUN
fsr-3924	91	25	k51	k51	NOUN
fsr-3924	91	26	n	n	ADV
fsr-3924	91	27	bj	bj	VERB
fsr-3924	91	28	,	,	PUNCT
fsr-3924	91	29	k	k	PROPN
fsr-3924	91	30	rj	rj	PROPN
fsr-3924	91	31	,	,	PUNCT
fsr-3924	91	32	t2k	t2k	PROPN
fsr-3924	91	33	1	1	NUM
fsr-3924	91	34	«	«	PUNCT
fsr-3924	91	35	t	t	X
fsr-3924	91	36	(	(	PUNCT
fsr-3924	91	37	2	2	NUM
fsr-3924	91	38	)	)	PUNCT
fsr-3924	91	39	rj	rj	PROPN
fsr-3924	91	40	,	,	PUNCT
fsr-3924	91	41	t	t	PROPN
fsr-3924	91	42	5	5	NUM
fsr-3924	91	43	d	d	SYM
fsr-3924	91	44	1	1	NUM
fsr-3924	91	45	o	o	NOUN
fsr-3924	91	46	k51	k51	PROPN
fsr-3924	91	47	n	n	PROPN
fsr-3924	91	48	gi	gi	NOUN
fsr-3924	91	49	,	,	PUNCT
fsr-3924	91	50	k	k	PROPN
fsr-3924	91	51	ri	ri	PROPN
fsr-3924	91	52	,	,	PUNCT
fsr-3924	91	53	t2k	t2k	ADJ
fsr-3924	91	54	1	1	NUM
fsr-3924	91	55	o	o	NOUN
fsr-3924	91	56	k51	k51	PROPN
fsr-3924	91	57	n	n	PROPN
fsr-3924	91	58	gi	gi	NOUN
fsr-3924	91	59	,	,	PUNCT
fsr-3924	91	60	k	k	PROPN
fsr-3924	91	61	rj	rj	PROPN
fsr-3924	91	62	,	,	PUNCT
fsr-3924	91	63	t2k	t2k	PROPN
fsr-3924	91	64	1	1	NUM
fsr-3924	91	65	yt	yt	NOUN
fsr-3924	91	66	(	(	PUNCT
fsr-3924	91	67	3	3	NUM
fsr-3924	91	68	)	)	PUNCT
fsr-3924	91	69	where	where	SCONJ
fsr-3924	91	70	n	n	PRON
fsr-3924	91	71	is	be	AUX
fsr-3924	91	72	the	the	DET
fsr-3924	91	73	number	number	NOUN
fsr-3924	91	74	of	of	ADP
fsr-3924	91	75	lags	lag	NOUN
fsr-3924	91	76	estimated	estimate	VERB
fsr-3924	91	77	;	;	PUNCT
fsr-3924	91	78	ri	ri	PROPN
fsr-3924	91	79	,	,	PUNCT
fsr-3924	91	80	t	t	PROPN
fsr-3924	91	81	is	be	AUX
fsr-3924	91	82	the	the	DET
fsr-3924	91	83	return	return	NOUN
fsr-3924	91	84	series	series	NOUN
fsr-3924	91	85	for	for	ADP
fsr-3924	91	86	asset	asset	NOUN
fsr-3924	91	87	class	class	NOUN
fsr-3924	91	88	i	i	PRON
fsr-3924	91	89	;	;	PUNCT
fsr-3924	91	90	rj	rj	PROPN
fsr-3924	91	91	,	,	PUNCT
fsr-3924	91	92	t	t	PROPN
fsr-3924	91	93	is	be	AUX
fsr-3924	91	94	the	the	DET
fsr-3924	91	95	return	return	NOUN
fsr-3924	91	96	series	series	NOUN
fsr-3924	91	97	for	for	ADP
fsr-3924	91	98	asset	asset	NOUN
fsr-3924	91	99	class	class	NOUN
fsr-3924	91	100	j;a	j;a	NOUN
fsr-3924	92	1	and	and	CCONJ
fsr-3924	92	2	d	d	NOUN
fsr-3924	92	3	are	be	AUX
fsr-3924	92	4	the	the	DET
fsr-3924	92	5	estimated	estimate	VERB
fsr-3924	92	6	intercepts;bi	intercepts;bi	PROPN
fsr-3924	92	7	,	,	PUNCT
fsr-3924	92	8	k	k	PROPN
fsr-3924	92	9	and	and	CCONJ
fsr-3924	92	10	gi	gi	INTJ
fsr-3924	92	11	,	,	PUNCT
fsr-3924	92	12	k	k	PROPN
fsr-3924	92	13	are	be	AUX
fsr-3924	92	14	the	the	DET
fsr-3924	92	15	coefficients	coefficient	NOUN
fsr-3924	92	16	for	for	ADP
fsr-3924	92	17	asset	asset	NOUN
fsr-3924	92	18	class	class	NOUN
fsr-3924	92	19	i	i	PRON
fsr-3924	92	20	’s	’s	PART
fsr-3924	92	21	return	return	NOUN
fsr-3924	92	22	series	series	NOUN
fsr-3924	92	23	lagged	lag	VERB
fsr-3924	92	24	t	t	PROPN
fsr-3924	92	25	-	-	PUNCT
fsr-3924	92	26	k	k	NOUN
fsr-3924	92	27	periods;bj	periods;bj	NOUN
fsr-3924	92	28	,	,	PUNCT
fsr-3924	92	29	k	k	PROPN
fsr-3924	92	30	andgj	andgj	PROPN
fsr-3924	92	31	,	,	PUNCT
fsr-3924	92	32	k	k	PROPN
fsr-3924	92	33	are	be	AUX
fsr-3924	92	34	the	the	DET
fsr-3924	92	35	coefficients	coefficient	NOUN
fsr-3924	92	36	for	for	ADP
fsr-3924	92	37	asset	asset	NOUN
fsr-3924	92	38	class	class	PROPN
fsr-3924	92	39	j	j	PROPN
fsr-3924	92	40	’s	’s	PART
fsr-3924	92	41	return	return	PROPN
fsr-3924	92	42	series	series	NOUN
fsr-3924	92	43	lagged	lag	VERB
fsr-3924	92	44	t	t	PROPN
fsr-3924	92	45	-	-	PUNCT
fsr-3924	92	46	k	k	PROPN
fsr-3924	92	47	periods	period	NOUN
fsr-3924	92	48	;	;	PUNCT
fsr-3924	92	49	andet	andet	NOUN
fsr-3924	92	50	andyt	andyt	ADV
fsr-3924	92	51	are	be	AUX
fsr-3924	92	52	the	the	DET
fsr-3924	92	53	normally	normally	ADV
fsr-3924	92	54	distributed	distribute	VERB
fsr-3924	92	55	error	error	NOUN
fsr-3924	92	56	terms	term	NOUN
fsr-3924	92	57	.	.	PUNCT
fsr-3924	93	1	the	the	DET
fsr-3924	93	2	granger	granger	PROPN
fsr-3924	93	3	causality	causality	NOUN
fsr-3924	93	4	tests	test	NOUN
fsr-3924	93	5	consist	consist	VERB
fsr-3924	93	6	of	of	ADP
fsr-3924	93	7	whether	whether	SCONJ
fsr-3924	93	8	all	all	DET
fsr-3924	93	9	the	the	DET
fsr-3924	93	10	coefficients	coefficient	NOUN
fsr-3924	93	11	of	of	ADP
fsr-3924	93	12	the	the	DET
fsr-3924	93	13	lagged	lag	VERB
fsr-3924	93	14	xs	xs	PROPN
fsr-3924	93	15	in	in	ADP
fsr-3924	93	16	eq	eq	ADP
fsr-3924	93	17	.	.	PUNCT
fsr-3924	94	1	(	(	PUNCT
fsr-3924	94	2	2	2	X
fsr-3924	94	3	)	)	PUNCT
fsr-3924	94	4	may	may	AUX
fsr-3924	94	5	be	be	AUX
fsr-3924	94	6	considered	consider	VERB
fsr-3924	94	7	to	to	PART
fsr-3924	94	8	be	be	AUX
fsr-3924	94	9	zero	zero	NUM
fsr-3924	94	10	,	,	PUNCT
fsr-3924	94	11	and	and	CCONJ
fsr-3924	94	12	similarly	similarly	ADV
fsr-3924	94	13	whether	whether	SCONJ
fsr-3924	94	14	the	the	DET
fsr-3924	94	15	coefficients	coefficient	NOUN
fsr-3924	94	16	of	of	ADP
fsr-3924	94	17	the	the	DET
fsr-3924	94	18	lagged	lag	VERB
fsr-3924	94	19	ys	ys	NOUN
fsr-3924	94	20	in	in	ADP
fsr-3924	94	21	eq	eq	ADP
fsr-3924	94	22	.	.	PUNCT
fsr-3924	95	1	(	(	PUNCT
fsr-3924	95	2	3	3	X
fsr-3924	95	3	)	)	PUNCT
fsr-3924	95	4	are	be	AUX
fsr-3924	95	5	zero	zero	NUM
fsr-3924	95	6	.	.	PUNCT
fsr-3924	96	1	thus	thus	ADV
fsr-3924	96	2	,	,	PUNCT
fsr-3924	96	3	the	the	DET
fsr-3924	96	4	null	null	ADJ
fsr-3924	96	5	hypotheses	hypothesis	NOUN
fsr-3924	96	6	being	be	AUX
fsr-3924	96	7	tested	test	VERB
fsr-3924	96	8	are	be	AUX
fsr-3924	96	9	that	that	SCONJ
fsr-3924	96	10	x	x	PRON
fsr-3924	96	11	does	do	VERB
fsr-3924	96	12	not	not	PART
fsr-3924	96	13	granger	granger	NOUN
fsr-3924	96	14	-	-	PUNCT
fsr-3924	96	15	cause	cause	NOUN
fsr-3924	96	16	y	y	PROPN
fsr-3924	96	17	and	and	CCONJ
fsr-3924	96	18	that	that	SCONJ
fsr-3924	96	19	y	y	PROPN
fsr-3924	96	20	does	do	AUX
fsr-3924	96	21	not	not	PART
fsr-3924	96	22	granger	granger	NOUN
fsr-3924	96	23	-	-	PUNCT
fsr-3924	96	24	cause	cause	NOUN
fsr-3924	96	25	x.	x.	NOUN
fsr-3924	96	26	4	4	X
fsr-3924	96	27	.	.	PUNCT
fsr-3924	96	28	empirical	empirical	ADJ
fsr-3924	96	29	results	result	NOUN
fsr-3924	96	30	of	of	ADP
fsr-3924	96	31	lead	lead	NOUN
fsr-3924	96	32	and	and	CCONJ
fsr-3924	96	33	lag	lag	VERB
fsr-3924	96	34	relationships	relationship	NOUN
fsr-3924	96	35	among	among	ADP
fsr-3924	96	36	asset	asset	NOUN
fsr-3924	96	37	classes	class	NOUN
fsr-3924	96	38	in	in	ADP
fsr-3924	96	39	order	order	NOUN
fsr-3924	96	40	to	to	PART
fsr-3924	96	41	conduct	conduct	VERB
fsr-3924	96	42	empirical	empirical	ADJ
fsr-3924	96	43	investigation	investigation	NOUN
fsr-3924	96	44	,	,	PUNCT
fsr-3924	96	45	we	we	PRON
fsr-3924	96	46	first	first	ADV
fsr-3924	96	47	divided	divide	VERB
fsr-3924	96	48	our	our	PRON
fsr-3924	96	49	sample	sample	NOUN
fsr-3924	96	50	into	into	ADP
fsr-3924	96	51	two	two	NUM
fsr-3924	96	52	subsamples	subsample	NOUN
fsr-3924	96	53	with	with	ADP
fsr-3924	96	54	an	an	DET
fsr-3924	96	55	approximately	approximately	ADV
fsr-3924	96	56	equal	equal	ADJ
fsr-3924	96	57	number	number	NOUN
fsr-3924	96	58	of	of	ADP
fsr-3924	96	59	observations	observation	NOUN
fsr-3924	96	60	.	.	PUNCT
fsr-3924	97	1	this	this	DET
fsr-3924	97	2	division	division	NOUN
fsr-3924	97	3	allows	allow	VERB
fsr-3924	97	4	testing	testing	NOUN
fsr-3924	97	5	lead	lead	NOUN
fsr-3924	97	6	and	and	CCONJ
fsr-3924	97	7	lag	lag	NOUN
fsr-3924	97	8	relationships	relationship	NOUN
fsr-3924	97	9	and	and	CCONJ
fsr-3924	97	10	the	the	DET
fsr-3924	97	11	development	development	NOUN
fsr-3924	97	12	of	of	ADP
fsr-3924	97	13	trading	trading	NOUN
fsr-3924	97	14	rules	rule	NOUN
fsr-3924	97	15	with	with	ADP
fsr-3924	97	16	one	one	NUM
fsr-3924	97	17	subsample	subsample	NOUN
fsr-3924	97	18	and	and	CCONJ
fsr-3924	97	19	then	then	ADV
fsr-3924	97	20	testing	test	VERB
fsr-3924	97	21	the	the	DET
fsr-3924	97	22	dominance	dominance	NOUN
fsr-3924	97	23	of	of	ADP
fsr-3924	97	24	those	those	DET
fsr-3924	97	25	rules	rule	NOUN
fsr-3924	97	26	over	over	ADP
fsr-3924	97	27	a	a	DET
fsr-3924	97	28	buy	buy	NOUN
fsr-3924	97	29	and	and	CCONJ
fsr-3924	97	30	hold	hold	VERB
fsr-3924	97	31	strategy	strategy	NOUN
fsr-3924	97	32	using	use	VERB
fsr-3924	97	33	the	the	DET
fsr-3924	97	34	holdout	holdout	NOUN
fsr-3924	97	35	sample	sample	NOUN
fsr-3924	97	36	.	.	PUNCT
fsr-3924	98	1	the	the	DET
fsr-3924	98	2	first	first	ADJ
fsr-3924	98	3	subsample	subsample	NOUN
fsr-3924	98	4	contains	contain	VERB
fsr-3924	98	5	725	725	NUM
fsr-3924	98	6	daily	daily	ADJ
fsr-3924	98	7	observations	observation	NOUN
fsr-3924	98	8	from	from	ADP
fsr-3924	98	9	may	may	PROPN
fsr-3924	98	10	2	2	NUM
fsr-3924	98	11	,	,	PUNCT
fsr-3924	98	12	1994	1994	NUM
fsr-3924	98	13	through	through	ADP
fsr-3924	98	14	february	february	PROPN
fsr-3924	98	15	28	28	NUM
fsr-3924	98	16	,	,	PUNCT
fsr-3924	98	17	1997	1997	NUM
fsr-3924	98	18	.	.	PUNCT
fsr-3924	99	1	the	the	DET
fsr-3924	99	2	holdout	holdout	NOUN
fsr-3924	99	3	sample	sample	NOUN
fsr-3924	99	4	contains	contain	VERB
fsr-3924	99	5	728	728	NUM
fsr-3924	99	6	daily	daily	ADJ
fsr-3924	99	7	observations	observation	NOUN
fsr-3924	99	8	from	from	ADP
fsr-3924	99	9	march	march	PROPN
fsr-3924	99	10	3	3	NUM
fsr-3924	99	11	,	,	PUNCT
fsr-3924	99	12	1997	1997	NUM
fsr-3924	99	13	through	through	ADP
fsr-3924	99	14	december	december	PROPN
fsr-3924	99	15	31	31	NUM
fsr-3924	99	16	,	,	PUNCT
fsr-3924	99	17	1999	1999	NUM
fsr-3924	99	18	.	.	PUNCT
fsr-3924	100	1	the	the	DET
fsr-3924	100	2	first	first	ADJ
fsr-3924	100	3	step	step	NOUN
fsr-3924	100	4	in	in	ADP
fsr-3924	100	5	assessing	assess	VERB
fsr-3924	100	6	whether	whether	SCONJ
fsr-3924	100	7	it	it	PRON
fsr-3924	100	8	is	be	AUX
fsr-3924	100	9	possible	possible	ADJ
fsr-3924	100	10	to	to	PART
fsr-3924	100	11	utilize	utilize	VERB
fsr-3924	100	12	return	return	NOUN
fsr-3924	100	13	patterns	pattern	NOUN
fsr-3924	100	14	from	from	ADP
fsr-3924	100	15	one	one	NUM
fsr-3924	100	16	asset	asset	NOUN
fsr-3924	100	17	class	class	NOUN
fsr-3924	100	18	to	to	PART
fsr-3924	100	19	foretell	foretell	VERB
fsr-3924	100	20	the	the	DET
fsr-3924	100	21	average	average	ADJ
fsr-3924	100	22	future	future	ADJ
fsr-3924	100	23	return	return	NOUN
fsr-3924	100	24	of	of	ADP
fsr-3924	100	25	another	another	DET
fsr-3924	100	26	asset	asset	NOUN
fsr-3924	100	27	class	class	NOUN
fsr-3924	100	28	is	be	AUX
fsr-3924	100	29	to	to	PART
fsr-3924	100	30	determine	determine	VERB
fsr-3924	100	31	the	the	DET
fsr-3924	100	32	instantaneous	instantaneous	ADJ
fsr-3924	100	33	correlation	correlation	NOUN
fsr-3924	100	34	.	.	PUNCT
fsr-3924	101	1	if	if	SCONJ
fsr-3924	101	2	instantaneous	instantaneous	ADJ
fsr-3924	101	3	correlations	correlation	NOUN
fsr-3924	101	4	are	be	AUX
fsr-3924	101	5	high	high	ADJ
fsr-3924	101	6	,	,	PUNCT
fsr-3924	101	7	the	the	DET
fsr-3924	101	8	impact	impact	NOUN
fsr-3924	101	9	of	of	ADP
fsr-3924	101	10	any	any	DET
fsr-3924	101	11	trading	trading	NOUN
fsr-3924	101	12	strategy	strategy	NOUN
fsr-3924	101	13	is	be	AUX
fsr-3924	101	14	mitigated	mitigate	VERB
fsr-3924	101	15	.	.	PUNCT
fsr-3924	102	1	table	table	NOUN
fsr-3924	102	2	1	1	NUM
fsr-3924	102	3	provides	provide	VERB
fsr-3924	102	4	the	the	DET
fsr-3924	102	5	instantaneous	instantaneous	ADJ
fsr-3924	102	6	correlation	correlation	NOUN
fsr-3924	102	7	and	and	CCONJ
fsr-3924	102	8	covariance	covariance	NOUN
fsr-3924	102	9	matrices	matrix	NOUN
fsr-3924	102	10	for	for	ADP
fsr-3924	102	11	the	the	DET
fsr-3924	102	12	six	six	NUM
fsr-3924	102	13	asset	asset	NOUN
fsr-3924	102	14	classes	class	NOUN
fsr-3924	102	15	in	in	ADP
fsr-3924	102	16	our	our	PRON
fsr-3924	102	17	sample	sample	NOUN
fsr-3924	102	18	.	.	PUNCT
fsr-3924	103	1	the	the	DET
fsr-3924	103	2	instantaneous	instantaneous	ADJ
fsr-3924	103	3	correlation	correlation	NOUN
fsr-3924	103	4	table	table	NOUN
fsr-3924	103	5	is	be	AUX
fsr-3924	103	6	of	of	ADP
fsr-3924	103	7	interest	interest	NOUN
fsr-3924	103	8	in	in	ADP
fsr-3924	103	9	its	its	PRON
fsr-3924	103	10	own	own	ADJ
fsr-3924	103	11	right	right	NOUN
fsr-3924	103	12	since	since	SCONJ
fsr-3924	103	13	it	it	PRON
fsr-3924	103	14	shows	show	VERB
fsr-3924	103	15	that	that	SCONJ
fsr-3924	103	16	diversification	diversification	NOUN
fsr-3924	103	17	between	between	ADP
fsr-3924	103	18	different	different	ADJ
fsr-3924	103	19	asset	asset	NOUN
fsr-3924	103	20	classes	class	NOUN
fsr-3924	103	21	is	be	AUX
fsr-3924	103	22	possible	possible	ADJ
fsr-3924	103	23	.	.	PUNCT
fsr-3924	104	1	the	the	DET
fsr-3924	104	2	relatively	relatively	ADV
fsr-3924	104	3	low	low	ADJ
fsr-3924	104	4	correlations	correlation	NOUN
fsr-3924	104	5	between	between	ADP
fsr-3924	104	6	global	global	ADJ
fsr-3924	104	7	funds	fund	NOUN
fsr-3924	104	8	and	and	CCONJ
fsr-3924	104	9	other	other	ADJ
fsr-3924	104	10	categories	category	NOUN
fsr-3924	104	11	of	of	ADP
fsr-3924	104	12	funds	fund	NOUN
fsr-3924	104	13	suggest	suggest	VERB
fsr-3924	104	14	that	that	SCONJ
fsr-3924	104	15	global	global	ADJ
fsr-3924	104	16	funds	fund	NOUN
fsr-3924	104	17	can	can	AUX
fsr-3924	104	18	indeed	indeed	ADV
fsr-3924	104	19	be	be	AUX
fsr-3924	104	20	used	use	VERB
fsr-3924	104	21	to	to	PART
fsr-3924	104	22	reduce	reduce	VERB
fsr-3924	104	23	risk	risk	NOUN
fsr-3924	104	24	when	when	SCONJ
fsr-3924	104	25	combined	combine	VERB
fsr-3924	104	26	with	with	ADP
fsr-3924	104	27	domestic	domestic	ADJ
fsr-3924	104	28	u.s	u.s	PROPN
fsr-3924	104	29	.	.	PROPN
fsr-3924	104	30	funds	fund	NOUN
fsr-3924	104	31	.	.	PUNCT
fsr-3924	105	1	the	the	DET
fsr-3924	105	2	highest	high	ADJ
fsr-3924	105	3	correlation	correlation	NOUN
fsr-3924	105	4	(	(	PUNCT
fsr-3924	105	5	0.974	0.974	NUM
fsr-3924	105	6	)	)	PUNCT
fsr-3924	105	7	is	be	AUX
fsr-3924	105	8	between	between	ADP
fsr-3924	105	9	index	index	NOUN
fsr-3924	105	10	and	and	CCONJ
fsr-3924	105	11	the	the	DET
fsr-3924	105	12	stock	stock	NOUN
fsr-3924	105	13	funds	fund	NOUN
fsr-3924	105	14	.	.	PUNCT
fsr-3924	106	1	the	the	DET
fsr-3924	106	2	high	high	ADJ
fsr-3924	106	3	correlation	correlation	NOUN
fsr-3924	106	4	between	between	ADP
fsr-3924	106	5	the	the	DET
fsr-3924	106	6	index	index	NOUN
fsr-3924	106	7	and	and	CCONJ
fsr-3924	106	8	the	the	DET
fsr-3924	106	9	stock	stock	NOUN
fsr-3924	106	10	fund	fund	NOUN
fsr-3924	106	11	is	be	AUX
fsr-3924	106	12	because	because	SCONJ
fsr-3924	106	13	approximately	approximately	ADV
fsr-3924	106	14	two	two	NUM
fsr-3924	106	15	thirds	third	NOUN
fsr-3924	106	16	of	of	ADP
fsr-3924	106	17	the	the	DET
fsr-3924	106	18	stock	stock	NOUN
fsr-3924	106	19	fund	fund	NOUN
fsr-3924	106	20	is	be	AUX
fsr-3924	106	21	indexed	index	VERB
fsr-3924	106	22	.	.	PUNCT
fsr-3924	107	1	the	the	DET
fsr-3924	107	2	instantaneous	instantaneous	ADJ
fsr-3924	107	3	correlation	correlation	NOUN
fsr-3924	107	4	structure	structure	NOUN
fsr-3924	107	5	suggests	suggest	VERB
fsr-3924	107	6	that	that	SCONJ
fsr-3924	107	7	investors	investor	NOUN
fsr-3924	107	8	may	may	AUX
fsr-3924	107	9	be	be	AUX
fsr-3924	107	10	able	able	ADJ
fsr-3924	107	11	to	to	PART
fsr-3924	107	12	benefit	benefit	VERB
fsr-3924	107	13	from	from	ADP
fsr-3924	107	14	an	an	DET
fsr-3924	107	15	asset	asset	NOUN
fsr-3924	107	16	reallocation	reallocation	NOUN
fsr-3924	107	17	strategy	strategy	NOUN
fsr-3924	107	18	if	if	SCONJ
fsr-3924	107	19	observing	observe	VERB
fsr-3924	107	20	the	the	DET
fsr-3924	107	21	returns	return	NOUN
fsr-3924	107	22	on	on	ADP
fsr-3924	107	23	one	one	NUM
fsr-3924	107	24	asset	asset	NOUN
fsr-3924	107	25	class	class	NOUN
fsr-3924	107	26	could	could	AUX
fsr-3924	107	27	provide	provide	VERB
fsr-3924	107	28	information	information	NOUN
fsr-3924	107	29	about	about	ADP
fsr-3924	107	30	the	the	DET
fsr-3924	107	31	future	future	ADJ
fsr-3924	107	32	returns	return	NOUN
fsr-3924	107	33	of	of	ADP
fsr-3924	107	34	another	another	DET
fsr-3924	107	35	asset	asset	NOUN
fsr-3924	107	36	class	class	NOUN
fsr-3924	107	37	.	.	PUNCT
fsr-3924	108	1	223e.m	223e.m	NUM
fsr-3924	108	2	.	.	PUNCT
fsr-3924	109	1	miller	miller	PROPN
fsr-3924	109	2	,	,	PUNCT
fsr-3924	109	3	l.j	l.j	PROPN
fsr-3924	109	4	.	.	PROPN
fsr-3924	109	5	prather	prather	PROPN
fsr-3924	109	6	/	/	SYM
fsr-3924	109	7	financial	financial	ADJ
fsr-3924	109	8	services	service	NOUN
fsr-3924	109	9	review	review	VERB
fsr-3924	109	10	9	9	NUM
fsr-3924	109	11	(	(	PUNCT
fsr-3924	109	12	2000	2000	NUM
fsr-3924	109	13	)	)	PUNCT
fsr-3924	110	1	219–230	219–230	NUM
fsr-3924	110	2	4.1	4.1	NUM
fsr-3924	110	3	.	.	PUNCT
fsr-3924	111	1	tests	test	NOUN
fsr-3924	111	2	of	of	ADP
fsr-3924	111	3	granger	granger	PROPN
fsr-3924	111	4	causality	causality	PROPN
fsr-3924	111	5	since	since	SCONJ
fsr-3924	111	6	investors	investor	NOUN
fsr-3924	111	7	may	may	AUX
fsr-3924	111	8	be	be	AUX
fsr-3924	111	9	able	able	ADJ
fsr-3924	111	10	to	to	PART
fsr-3924	111	11	benefit	benefit	VERB
fsr-3924	111	12	from	from	ADP
fsr-3924	111	13	an	an	DET
fsr-3924	111	14	asset	asset	NOUN
fsr-3924	111	15	reallocation	reallocation	NOUN
fsr-3924	111	16	strategy	strategy	NOUN
fsr-3924	111	17	if	if	SCONJ
fsr-3924	111	18	observing	observe	VERB
fsr-3924	111	19	the	the	DET
fsr-3924	111	20	returns	return	NOUN
fsr-3924	111	21	on	on	ADP
fsr-3924	111	22	one	one	NUM
fsr-3924	111	23	retirement	retirement	NOUN
fsr-3924	111	24	annuity	annuity	NOUN
fsr-3924	111	25	could	could	AUX
fsr-3924	111	26	provide	provide	VERB
fsr-3924	111	27	information	information	NOUN
fsr-3924	111	28	about	about	ADP
fsr-3924	111	29	the	the	DET
fsr-3924	111	30	future	future	ADJ
fsr-3924	111	31	returns	return	NOUN
fsr-3924	111	32	of	of	ADP
fsr-3924	111	33	another	another	DET
fsr-3924	111	34	retirement	retirement	NOUN
fsr-3924	111	35	annuity	annuity	NOUN
fsr-3924	111	36	,	,	PUNCT
fsr-3924	111	37	we	we	PRON
fsr-3924	111	38	examine	examine	VERB
fsr-3924	111	39	whether	whether	SCONJ
fsr-3924	111	40	that	that	DET
fsr-3924	111	41	situation	situation	NOUN
fsr-3924	111	42	exists	exist	VERB
fsr-3924	111	43	(	(	PUNCT
fsr-3924	111	44	on	on	ADP
fsr-3924	111	45	average	average	ADJ
fsr-3924	111	46	)	)	PUNCT
fsr-3924	111	47	using	use	VERB
fsr-3924	111	48	granger	granger	PROPN
fsr-3924	111	49	causality	causality	PROPN
fsr-3924	111	50	.	.	PUNCT
fsr-3924	112	1	table	table	NOUN
fsr-3924	112	2	2	2	NUM
fsr-3924	112	3	provides	provide	VERB
fsr-3924	112	4	the	the	DET
fsr-3924	112	5	results	result	NOUN
fsr-3924	112	6	of	of	ADP
fsr-3924	112	7	granger	granger	PROPN
fsr-3924	112	8	causality	causality	NOUN
fsr-3924	112	9	tests	test	NOUN
fsr-3924	112	10	of	of	ADP
fsr-3924	112	11	lead	lead	ADJ
fsr-3924	112	12	-	-	PUNCT
fsr-3924	112	13	lag	lag	NOUN
fsr-3924	112	14	table	table	NOUN
fsr-3924	112	15	1	1	NUM
fsr-3924	112	16	instantaneous	instantaneous	ADJ
fsr-3924	112	17	correlation	correlation	NOUN
fsr-3924	112	18	and	and	CCONJ
fsr-3924	112	19	covariance	covariance	NOUN
fsr-3924	112	20	between	between	ADP
fsr-3924	112	21	asset	asset	NOUN
fsr-3924	112	22	classes	class	NOUN
fsr-3924	112	23	panel	panel	VERB
fsr-3924	112	24	a	a	DET
fsr-3924	112	25	instantaneous	instantaneous	ADJ
fsr-3924	112	26	correlation	correlation	NOUN
fsr-3924	112	27	stk	stk	PROPN
fsr-3924	112	28	mm	mm	PROPN
fsr-3924	112	29	bond	bond	NOUN
fsr-3924	112	30	glob	glob	PROPN
fsr-3924	112	31	gro	gro	PROPN
fsr-3924	112	32	indx	indx	PROPN
fsr-3924	112	33	stk	stk	PROPN
fsr-3924	112	34	1.000000	1.000000	NUM
fsr-3924	112	35	0.036410	0.036410	NUM
fsr-3924	112	36	0.530942	0.530942	NUM
fsr-3924	112	37	0.742750	0.742750	NUM
fsr-3924	112	38	0.942812	0.942812	NUM
fsr-3924	112	39	0.973581	0.973581	NUM
fsr-3924	112	40	mm	mm	NUM
fsr-3924	112	41	0.036410	0.036410	NUM
fsr-3924	112	42	1.000000	1.000000	NUM
fsr-3924	112	43	0.110867	0.110867	NUM
fsr-3924	112	44	0.007747	0.007747	NUM
fsr-3924	112	45	0.004376	0.004376	NUM
fsr-3924	112	46	0.030099	0.030099	NUM
fsr-3924	112	47	bond	bond	NOUN
fsr-3924	112	48	0.530942	0.530942	NUM
fsr-3924	112	49	0.110867	0.110867	NUM
fsr-3924	112	50	1.000000	1.000000	NUM
fsr-3924	112	51	0.269797	0.269797	NUM
fsr-3924	112	52	0.474017	0.474017	NUM
fsr-3924	112	53	0.551139	0.551139	NUM
fsr-3924	112	54	glob	glob	NOUN
fsr-3924	112	55	0.742750	0.742750	NUM
fsr-3924	112	56	0.007747	0.007747	NUM
fsr-3924	112	57	0.269797	0.269797	NUM
fsr-3924	112	58	1.000000	1.000000	NUM
fsr-3924	112	59	0.629086	0.629086	NUM
fsr-3924	112	60	0.607968	0.607968	NUM
fsr-3924	112	61	gro	gro	NOUN
fsr-3924	112	62	0.942812	0.942812	NUM
fsr-3924	112	63	0.004376	0.004376	NUM
fsr-3924	112	64	0.474017	0.474017	NUM
fsr-3924	112	65	0.629086	0.629086	NUM
fsr-3924	112	66	1.000000	1.000000	NUM
fsr-3924	112	67	0.961849	0.961849	NUM
fsr-3924	112	68	indx	indx	PROPN
fsr-3924	112	69	0.973581	0.973581	NUM
fsr-3924	112	70	0.030099	0.030099	NUM
fsr-3924	112	71	0.551139	0.551139	NUM
fsr-3924	112	72	0.607958	0.607958	NUM
fsr-3924	112	73	0.961849	0.961849	NUM
fsr-3924	112	74	1.000000	1.000000	NUM
fsr-3924	112	75	panel	panel	NOUN
fsr-3924	112	76	b	b	ADP
fsr-3924	113	1	instantaneous	instantaneous	ADJ
fsr-3924	113	2	covariance	covariance	NOUN
fsr-3924	113	3	matrix	matrix	NOUN
fsr-3924	113	4	bond	bond	NOUN
fsr-3924	113	5	glob	glob	NOUN
fsr-3924	113	6	gro	gro	PROPN
fsr-3924	113	7	indx	indx	PROPN
fsr-3924	114	1	mm	mm	PROPN
fsr-3924	114	2	stk	stk	PROPN
fsr-3924	114	3	bond	bond	PROPN
fsr-3924	114	4	7.42e-06	7.42e-06	NUM
fsr-3924	114	5	3.63e-06	3.63e-06	NUM
fsr-3924	114	6	8.67e-06	8.67e-06	NUM
fsr-3924	114	7	9.11e-06	9.11e-06	NUM
fsr-3924	114	8	3.81e-08	3.81e-08	NUM
fsr-3924	114	9	7.41e-06	7.41e-06	NUM
fsr-3924	114	10	glob	glob	NOUN
fsr-3924	114	11	3.63e-06	3.63e-06	NUM
fsr-3924	114	12	2.44e-05	2.44e-05	NUM
fsr-3924	114	13	2.09e-05	2.09e-05	NUM
fsr-3924	114	14	1.82e-05	1.82e-05	NUM
fsr-3924	114	15	4.82e-09	4.82e-09	NUM
fsr-3924	114	16	1.88e-05	1.88e-05	NUM
fsr-3924	114	17	gro	gro	NOUN
fsr-3924	114	18	8.67e-06	8.67e-06	NUM
fsr-3924	114	19	2.09e-05	2.09e-05	NUM
fsr-3924	114	20	4.51e-05	4.51e-05	NUM
fsr-3924	114	21	3.92e-05	3.92e-05	NUM
fsr-3924	114	22	3.70e-09	3.70e-09	NUM
fsr-3924	114	23	3.24e-05	3.24e-05	NUM
fsr-3924	114	24	indx	indx	PROPN
fsr-3924	114	25	9.11e-06	9.11e-06	NUM
fsr-3924	114	26	1.82e-05	1.82e-05	NUM
fsr-3924	114	27	3.92e-05	3.92e-05	NUM
fsr-3924	114	28	3.68e-05	3.68e-05	NUM
fsr-3924	114	29	2.30e-08	2.30e-08	NUM
fsr-3924	114	30	3.03e-05	3.03e-05	NUM
fsr-3924	114	31	mm	mm	NUM
fsr-3924	114	32	3.81e-08	3.81e-08	NUM
fsr-3924	114	33	4.82e-09	4.82e-09	NUM
fsr-3924	114	34	3.70e-09	3.70e-09	NUM
fsr-3924	114	35	2.30e-08	2.30e-08	NUM
fsr-3924	114	36	1.59e-08	1.59e-08	NUM
fsr-3924	114	37	2.35e-08	2.35e-08	NUM
fsr-3924	114	38	stk	stk	PROPN
fsr-3924	114	39	7.41e-06	7.41e-06	NUM
fsr-3924	114	40	1.88e-05	1.88e-05	NUM
fsr-3924	114	41	3.24e-05	3.24e-05	NUM
fsr-3924	114	42	3.03e-05	3.03e-05	NUM
fsr-3924	114	43	2.35e-08	2.35e-08	NUM
fsr-3924	114	44	2.62e-05	2.62e-05	NUM
fsr-3924	114	45	table	table	NOUN
fsr-3924	114	46	2	2	NUM
fsr-3924	114	47	pairwise	pairwise	NOUN
fsr-3924	114	48	granger	granger	NOUN
fsr-3924	114	49	causality	causality	NOUN
fsr-3924	114	50	tests	test	VERB
fsr-3924	114	51	for	for	ADP
fsr-3924	114	52	a	a	DET
fsr-3924	114	53	one	one	NUM
fsr-3924	114	54	-	-	PUNCT
fsr-3924	114	55	period	period	NOUN
fsr-3924	114	56	lag	lag	NOUN
fsr-3924	114	57	stk	stk	PROPN
fsr-3924	114	58	mm	mm	PROPN
fsr-3924	114	59	bond	bond	NOUN
fsr-3924	114	60	glob	glob	PROPN
fsr-3924	114	61	gro	gro	PROPN
fsr-3924	114	62	indx	indx	PROPN
fsr-3924	114	63	stk	stk	PROPN
fsr-3924	114	64	5.2915	5.2915	NUM
fsr-3924	114	65	0.4090	0.4090	NUM
fsr-3924	114	66	60.4311	60.4311	NUM
fsr-3924	114	67	0.6969	0.6969	NUM
fsr-3924	114	68	0.2362	0.2362	NUM
fsr-3924	114	69	(	(	PUNCT
fsr-3924	114	70	0.0217	0.0217	NUM
fsr-3924	114	71	)	)	PUNCT
fsr-3924	114	72	(	(	PUNCT
fsr-3924	114	73	0.5227	0.5227	NUM
fsr-3924	114	74	)	)	PUNCT
fsr-3924	114	75	(	(	PUNCT
fsr-3924	114	76	0.0000	0.0000	NUM
fsr-3924	114	77	)	)	PUNCT
fsr-3924	114	78	(	(	PUNCT
fsr-3924	114	79	0.4041	0.4041	NUM
fsr-3924	114	80	)	)	PUNCT
fsr-3924	114	81	(	(	PUNCT
fsr-3924	114	82	0.6272	0.6272	NUM
fsr-3924	114	83	)	)	PUNCT
fsr-3924	114	84	mm	mm	PROPN
fsr-3924	115	1	0.6290	0.6290	NUM
fsr-3924	115	2	3.6568	3.6568	NUM
fsr-3924	115	3	0.2450	0.2450	NUM
fsr-3924	115	4	0.9709	0.9709	NUM
fsr-3924	115	5	0.6189	0.6189	NUM
fsr-3924	115	6	(	(	PUNCT
fsr-3924	115	7	0.4280	0.4280	NUM
fsr-3924	115	8	)	)	PUNCT
fsr-3924	115	9	(	(	PUNCT
fsr-3924	115	10	0.0563	0.0563	NUM
fsr-3924	115	11	)	)	PUNCT
fsr-3924	115	12	(	(	PUNCT
fsr-3924	115	13	0.6208	0.6208	NUM
fsr-3924	115	14	)	)	PUNCT
fsr-3924	115	15	(	(	PUNCT
fsr-3924	115	16	0.3248	0.3248	NUM
fsr-3924	115	17	)	)	PUNCT
fsr-3924	115	18	(	(	PUNCT
fsr-3924	115	19	0.4317	0.4317	NUM
fsr-3924	115	20	)	)	PUNCT
fsr-3924	115	21	bond	bond	NOUN
fsr-3924	115	22	0.4412	0.4412	NUM
fsr-3924	115	23	4.4005	4.4005	NUM
fsr-3924	115	24	32.5721	32.5721	NUM
fsr-3924	115	25	0.0833	0.0833	NUM
fsr-3924	115	26	0.1137	0.1137	NUM
fsr-3924	115	27	(	(	PUNCT
fsr-3924	115	28	0.5068	0.5068	NUM
fsr-3924	115	29	)	)	PUNCT
fsr-3924	115	30	(	(	PUNCT
fsr-3924	115	31	0.0363	0.0363	NUM
fsr-3924	115	32	)	)	PUNCT
fsr-3924	115	33	(	(	PUNCT
fsr-3924	115	34	0.0000	0.0000	NUM
fsr-3924	115	35	)	)	PUNCT
fsr-3924	115	36	(	(	PUNCT
fsr-3924	115	37	0.7730	0.7730	NUM
fsr-3924	115	38	)	)	PUNCT
fsr-3924	115	39	(	(	PUNCT
fsr-3924	115	40	0.7361	0.7361	NUM
fsr-3924	115	41	)	)	PUNCT
fsr-3924	115	42	glob	glob	NOUN
fsr-3924	115	43	0.0474	0.0474	NUM
fsr-3924	115	44	2.5997	2.5997	NUM
fsr-3924	115	45	3.0471	3.0471	NUM
fsr-3924	115	46	0.7126	0.7126	NUM
fsr-3924	115	47	1.0155	1.0155	NUM
fsr-3924	115	48	(	(	PUNCT
fsr-3924	115	49	0.8277	0.8277	NUM
fsr-3924	115	50	)	)	PUNCT
fsr-3924	115	51	(	(	PUNCT
fsr-3924	115	52	0.1073	0.1073	NUM
fsr-3924	115	53	)	)	PUNCT
fsr-3924	115	54	(	(	PUNCT
fsr-3924	115	55	0.0813	0.0813	NUM
fsr-3924	115	56	)	)	PUNCT
fsr-3924	115	57	(	(	PUNCT
fsr-3924	115	58	0.3989	0.3989	NUM
fsr-3924	115	59	)	)	PUNCT
fsr-3924	115	60	(	(	PUNCT
fsr-3924	115	61	0.3139	0.3139	NUM
fsr-3924	115	62	)	)	PUNCT
fsr-3924	115	63	gro	gro	NOUN
fsr-3924	115	64	0.0390	0.0390	NUM
fsr-3924	115	65	2.9648	2.9648	NUM
fsr-3924	115	66	0.0051	0.0051	NUM
fsr-3924	115	67	59.4262	59.4262	NUM
fsr-3924	115	68	0.1944	0.1944	NUM
fsr-3924	115	69	(	(	PUNCT
fsr-3924	115	70	0.8435	0.8435	NUM
fsr-3924	115	71	)	)	PUNCT
fsr-3924	115	72	(	(	PUNCT
fsr-3924	115	73	0.0855	0.0855	NUM
fsr-3924	115	74	)	)	PUNCT
fsr-3924	115	75	(	(	PUNCT
fsr-3924	115	76	0.9431	0.9431	NUM
fsr-3924	115	77	)	)	PUNCT
fsr-3924	115	78	(	(	PUNCT
fsr-3924	115	79	0.0000	0.0000	NUM
fsr-3924	115	80	)	)	PUNCT
fsr-3924	115	81	(	(	PUNCT
fsr-3924	115	82	0.6594	0.6594	NUM
fsr-3924	115	83	)	)	PUNCT
fsr-3924	115	84	indx	indx	PROPN
fsr-3924	115	85	1.4763	1.4763	NUM
fsr-3924	115	86	4.7076	4.7076	NUM
fsr-3924	115	87	0.0929	0.0929	NUM
fsr-3924	115	88	69.0951	69.0951	NUM
fsr-3924	115	89	1.2504	1.2504	NUM
fsr-3924	115	90	(	(	PUNCT
fsr-3924	115	91	0.2247	0.2247	NUM
fsr-3924	115	92	)	)	PUNCT
fsr-3924	115	93	(	(	PUNCT
fsr-3924	115	94	0.0304	0.0304	NUM
fsr-3924	115	95	)	)	PUNCT
fsr-3924	115	96	(	(	PUNCT
fsr-3924	115	97	0.7607	0.7607	NUM
fsr-3924	115	98	)	)	PUNCT
fsr-3924	115	99	(	(	PUNCT
fsr-3924	115	100	0.0000	0.0000	NUM
fsr-3924	115	101	)	)	PUNCT
fsr-3924	115	102	(	(	PUNCT
fsr-3924	115	103	0.2639	0.2639	NUM
fsr-3924	115	104	)	)	PUNCT
fsr-3924	115	105	a	a	DET
fsr-3924	115	106	matrix	matrix	NOUN
fsr-3924	115	107	of	of	ADP
fsr-3924	115	108	the	the	DET
fsr-3924	115	109	f	f	NOUN
fsr-3924	115	110	-	-	PUNCT
fsr-3924	115	111	statistic	statistic	ADJ
fsr-3924	115	112	(	(	PUNCT
fsr-3924	115	113	p	p	NOUN
fsr-3924	115	114	-	-	PUNCT
fsr-3924	115	115	value	value	NOUN
fsr-3924	115	116	in	in	ADP
fsr-3924	115	117	parenthesis	parenthesis	NOUN
fsr-3924	115	118	)	)	PUNCT
fsr-3924	115	119	for	for	ADP
fsr-3924	115	120	the	the	DET
fsr-3924	115	121	granger	granger	PROPN
fsr-3924	115	122	causality	causality	PROPN
fsr-3924	115	123	test	test	NOUN
fsr-3924	115	124	of	of	ADP
fsr-3924	115	125	lead	lead	NOUN
fsr-3924	115	126	and	and	CCONJ
fsr-3924	115	127	lag	lag	NOUN
fsr-3924	115	128	relationships	relationship	NOUN
fsr-3924	115	129	is	be	AUX
fsr-3924	115	130	presented	present	VERB
fsr-3924	115	131	for	for	ADP
fsr-3924	115	132	the	the	DET
fsr-3924	115	133	initial	initial	ADJ
fsr-3924	115	134	sample	sample	NOUN
fsr-3924	115	135	of	of	ADP
fsr-3924	115	136	725	725	NUM
fsr-3924	115	137	trading	trading	NOUN
fsr-3924	115	138	days	day	NOUN
fsr-3924	115	139	between	between	ADP
fsr-3924	115	140	may	may	PROPN
fsr-3924	115	141	2	2	NUM
fsr-3924	115	142	,	,	PUNCT
fsr-3924	115	143	1994	1994	NUM
fsr-3924	115	144	and	and	CCONJ
fsr-3924	115	145	february	february	PROPN
fsr-3924	115	146	28	28	NUM
fsr-3924	115	147	,	,	PUNCT
fsr-3924	115	148	1997	1997	NUM
fsr-3924	115	149	.	.	PUNCT
fsr-3924	116	1	the	the	DET
fsr-3924	116	2	test	test	NOUN
fsr-3924	116	3	statistics	statistic	NOUN
fsr-3924	116	4	are	be	AUX
fsr-3924	116	5	for	for	ADP
fsr-3924	116	6	testing	test	VERB
fsr-3924	116	7	the	the	DET
fsr-3924	116	8	null	null	ADJ
fsr-3924	116	9	hypothesis	hypothesis	NOUN
fsr-3924	116	10	that	that	PRON
fsr-3924	116	11	the	the	DET
fsr-3924	116	12	asset	asset	NOUN
fsr-3924	116	13	class	class	NOUN
fsr-3924	116	14	returns	return	NOUN
fsr-3924	116	15	in	in	ADP
fsr-3924	116	16	the	the	DET
fsr-3924	116	17	row	row	NOUN
fsr-3924	117	1	do	do	AUX
fsr-3924	117	2	not	not	PART
fsr-3924	117	3	granger	granger	VERB
fsr-3924	117	4	cause	cause	VERB
fsr-3924	117	5	the	the	DET
fsr-3924	117	6	asset	asset	NOUN
fsr-3924	117	7	class	class	NOUN
fsr-3924	117	8	returns	return	NOUN
fsr-3924	117	9	in	in	ADP
fsr-3924	117	10	the	the	DET
fsr-3924	117	11	column	column	NOUN
fsr-3924	117	12	for	for	ADP
fsr-3924	117	13	a	a	DET
fsr-3924	117	14	one	one	NUM
fsr-3924	117	15	-	-	PUNCT
fsr-3924	117	16	day	day	NOUN
fsr-3924	117	17	lag	lag	NOUN
fsr-3924	117	18	.	.	PUNCT
fsr-3924	118	1	224	224	NUM
fsr-3924	118	2	e.m	e.m	PROPN
fsr-3924	118	3	.	.	PROPN
fsr-3924	118	4	miller	miller	PROPN
fsr-3924	118	5	,	,	PUNCT
fsr-3924	118	6	l.j	l.j	PROPN
fsr-3924	118	7	.	.	PROPN
fsr-3924	118	8	prather	prather	PROPN
fsr-3924	118	9	/	/	SYM
fsr-3924	118	10	financial	financial	ADJ
fsr-3924	118	11	services	service	NOUN
fsr-3924	118	12	review	review	VERB
fsr-3924	118	13	9	9	NUM
fsr-3924	118	14	(	(	PUNCT
fsr-3924	118	15	2000	2000	NUM
fsr-3924	118	16	)	)	PUNCT
fsr-3924	119	1	219–230	219–230	NUM
fsr-3924	119	2	relationships	relationship	NOUN
fsr-3924	119	3	of	of	ADP
fsr-3924	119	4	the	the	DET
fsr-3924	119	5	thirty	thirty	NUM
fsr-3924	119	6	possible	possible	ADJ
fsr-3924	119	7	test	test	NOUN
fsr-3924	119	8	pair	pair	NOUN
fsr-3924	119	9	combinations	combination	NOUN
fsr-3924	119	10	over	over	ADP
fsr-3924	119	11	the	the	DET
fsr-3924	119	12	725	725	NUM
fsr-3924	119	13	-	-	PUNCT
fsr-3924	119	14	day	day	NOUN
fsr-3924	119	15	sample	sample	NOUN
fsr-3924	119	16	period	period	NOUN
fsr-3924	119	17	.	.	PUNCT
fsr-3924	120	1	these	these	DET
fsr-3924	120	2	tests	test	NOUN
fsr-3924	120	3	of	of	ADP
fsr-3924	120	4	granger	granger	PROPN
fsr-3924	120	5	causality	causality	PROPN
fsr-3924	120	6	are	be	AUX
fsr-3924	120	7	stated	state	VERB
fsr-3924	120	8	in	in	ADP
fsr-3924	120	9	null	null	ADJ
fsr-3924	120	10	hypothesis	hypothesis	NOUN
fsr-3924	120	11	form	form	NOUN
fsr-3924	120	12	and	and	CCONJ
fsr-3924	120	13	examine	examine	VERB
fsr-3924	120	14	a	a	DET
fsr-3924	120	15	one	one	NUM
fsr-3924	120	16	-	-	PUNCT
fsr-3924	120	17	period	period	NOUN
fsr-3924	120	18	(	(	PUNCT
fsr-3924	120	19	trading	trading	NOUN
fsr-3924	120	20	-	-	PUNCT
fsr-3924	120	21	day	day	NOUN
fsr-3924	120	22	)	)	PUNCT
fsr-3924	120	23	lag	lag	NOUN
fsr-3924	120	24	.	.	PUNCT
fsr-3924	121	1	interestingly	interestingly	ADV
fsr-3924	121	2	,	,	PUNCT
fsr-3924	121	3	seven	seven	NUM
fsr-3924	121	4	test	test	NOUN
fsr-3924	121	5	pairs	pair	NOUN
fsr-3924	121	6	yielded	yield	VERB
fsr-3924	121	7	significant	significant	ADJ
fsr-3924	121	8	lead	lead	ADJ
fsr-3924	121	9	-	-	PUNCT
fsr-3924	121	10	lag	lag	NOUN
fsr-3924	121	11	relationships	relationship	NOUN
fsr-3924	121	12	at	at	ADP
fsr-3924	121	13	the	the	DET
fsr-3924	121	14	five	five	NUM
fsr-3924	121	15	-	-	PUNCT
fsr-3924	121	16	percent	percent	NOUN
fsr-3924	121	17	level	level	NOUN
fsr-3924	121	18	(	(	PUNCT
fsr-3924	121	19	the	the	DET
fsr-3924	121	20	null	null	ADJ
fsr-3924	121	21	hypothesis	hypothesis	NOUN
fsr-3924	121	22	was	be	AUX
fsr-3924	121	23	rejected	reject	VERB
fsr-3924	121	24	)	)	PUNCT
fsr-3924	121	25	and	and	CCONJ
fsr-3924	121	26	three	three	NUM
fsr-3924	121	27	additional	additional	ADJ
fsr-3924	121	28	test	test	NOUN
fsr-3924	121	29	pairs	pair	NOUN
fsr-3924	121	30	were	be	AUX
fsr-3924	121	31	significant	significant	ADJ
fsr-3924	121	32	at	at	ADP
fsr-3924	121	33	the	the	DET
fsr-3924	121	34	ten	ten	NUM
fsr-3924	121	35	-	-	PUNCT
fsr-3924	121	36	percent	percent	NOUN
fsr-3924	121	37	level	level	NOUN
fsr-3924	121	38	.	.	PUNCT
fsr-3924	122	1	the	the	DET
fsr-3924	122	2	finding	finding	NOUN
fsr-3924	122	3	of	of	ADP
fsr-3924	122	4	seven	seven	NUM
fsr-3924	122	5	significant	significant	ADJ
fsr-3924	122	6	causalities	causality	NOUN
fsr-3924	122	7	at	at	ADP
fsr-3924	122	8	the	the	DET
fsr-3924	122	9	five	five	NUM
fsr-3924	122	10	-	-	PUNCT
fsr-3924	122	11	percent	percent	NOUN
fsr-3924	122	12	level	level	NOUN
fsr-3924	122	13	is	be	AUX
fsr-3924	122	14	far	far	ADV
fsr-3924	122	15	above	above	ADP
fsr-3924	122	16	the	the	DET
fsr-3924	122	17	one	one	NUM
fsr-3924	122	18	or	or	CCONJ
fsr-3924	122	19	two	two	NUM
fsr-3924	122	20	that	that	PRON
fsr-3924	122	21	would	would	AUX
fsr-3924	122	22	be	be	AUX
fsr-3924	122	23	expected	expect	VERB
fsr-3924	122	24	from	from	ADP
fsr-3924	122	25	chance	chance	NOUN
fsr-3924	122	26	alone	alone	ADV
fsr-3924	122	27	.	.	PUNCT
fsr-3924	123	1	this	this	PRON
fsr-3924	123	2	suggests	suggest	VERB
fsr-3924	123	3	that	that	SCONJ
fsr-3924	123	4	trading	trading	NOUN
fsr-3924	123	5	patterns	pattern	NOUN
fsr-3924	123	6	may	may	AUX
fsr-3924	123	7	exist	exist	VERB
fsr-3924	123	8	and	and	CCONJ
fsr-3924	123	9	that	that	SCONJ
fsr-3924	123	10	investors	investor	NOUN
fsr-3924	123	11	may	may	AUX
fsr-3924	123	12	develop	develop	VERB
fsr-3924	123	13	a	a	DET
fsr-3924	123	14	personal	personal	ADJ
fsr-3924	123	15	strategy	strategy	NOUN
fsr-3924	123	16	to	to	PART
fsr-3924	123	17	maximize	maximize	VERB
fsr-3924	123	18	their	their	PRON
fsr-3924	123	19	utility	utility	NOUN
fsr-3924	123	20	by	by	ADP
fsr-3924	123	21	using	use	VERB
fsr-3924	123	22	this	this	DET
fsr-3924	123	23	lead	lead	ADJ
fsr-3924	123	24	-	-	PUNCT
fsr-3924	123	25	lag	lag	NOUN
fsr-3924	123	26	information	information	NOUN
fsr-3924	123	27	to	to	PART
fsr-3924	123	28	enhance	enhance	VERB
fsr-3924	123	29	the	the	DET
fsr-3924	123	30	movement	movement	NOUN
fsr-3924	123	31	of	of	ADP
fsr-3924	123	32	funds	fund	NOUN
fsr-3924	123	33	among	among	ADP
fsr-3924	123	34	preselected	preselecte	VERB
fsr-3924	123	35	retirement	retirement	NOUN
fsr-3924	123	36	annuities	annuity	NOUN
fsr-3924	123	37	that	that	PRON
fsr-3924	123	38	provide	provide	VERB
fsr-3924	123	39	the	the	DET
fsr-3924	123	40	desired	desire	VERB
fsr-3924	123	41	level	level	NOUN
fsr-3924	123	42	of	of	ADP
fsr-3924	123	43	risk	risk	NOUN
fsr-3924	123	44	.	.	PUNCT
fsr-3924	124	1	one	one	NUM
fsr-3924	124	2	caveat	caveat	NOUN
fsr-3924	124	3	exists	exist	VERB
fsr-3924	124	4	.	.	PUNCT
fsr-3924	125	1	granger	granger	PROPN
fsr-3924	125	2	causing	cause	VERB
fsr-3924	125	3	a	a	DET
fsr-3924	125	4	relationship	relationship	NOUN
fsr-3924	125	5	does	do	AUX
fsr-3924	125	6	not	not	PART
fsr-3924	125	7	mean	mean	VERB
fsr-3924	125	8	one	one	NUM
fsr-3924	125	9	asset	asset	NOUN
fsr-3924	125	10	class	class	NOUN
fsr-3924	125	11	causes	cause	VERB
fsr-3924	125	12	another	another	PRON
fsr-3924	125	13	,	,	PUNCT
fsr-3924	125	14	it	it	PRON
fsr-3924	125	15	simply	simply	ADV
fsr-3924	125	16	means	mean	VERB
fsr-3924	125	17	that	that	SCONJ
fsr-3924	125	18	a	a	DET
fsr-3924	125	19	statistical	statistical	ADJ
fsr-3924	125	20	relationship	relationship	NOUN
fsr-3924	125	21	exists	exist	VERB
fsr-3924	125	22	such	such	ADJ
fsr-3924	125	23	that	that	SCONJ
fsr-3924	125	24	knowing	know	VERB
fsr-3924	125	25	past	past	ADJ
fsr-3924	125	26	returns	return	NOUN
fsr-3924	125	27	of	of	ADP
fsr-3924	125	28	one	one	NUM
fsr-3924	125	29	class	class	NOUN
fsr-3924	125	30	will	will	AUX
fsr-3924	125	31	help	help	VERB
fsr-3924	125	32	determine	determine	VERB
fsr-3924	125	33	future	future	ADJ
fsr-3924	125	34	returns	return	NOUN
fsr-3924	125	35	in	in	ADP
fsr-3924	125	36	another	another	PRON
fsr-3924	125	37	.	.	PUNCT
fsr-3924	126	1	empirical	empirical	ADJ
fsr-3924	126	2	analysis	analysis	NOUN
fsr-3924	126	3	suggests	suggest	VERB
fsr-3924	126	4	that	that	SCONJ
fsr-3924	126	5	the	the	DET
fsr-3924	126	6	most	most	ADV
fsr-3924	126	7	significant	significant	ADJ
fsr-3924	126	8	statistical	statistical	ADJ
fsr-3924	126	9	relationships	relationship	NOUN
fsr-3924	126	10	are	be	AUX
fsr-3924	126	11	for	for	ADP
fsr-3924	126	12	:	:	PUNCT
fsr-3924	126	13	(	(	PUNCT
fsr-3924	126	14	1	1	X
fsr-3924	126	15	)	)	PUNCT
fsr-3924	126	16	index	index	NOUN
fsr-3924	126	17	leading	lead	VERB
fsr-3924	126	18	global	global	ADJ
fsr-3924	126	19	,	,	PUNCT
fsr-3924	126	20	(	(	PUNCT
fsr-3924	126	21	2	2	X
fsr-3924	126	22	)	)	PUNCT
fsr-3924	126	23	stock	stock	NOUN
fsr-3924	126	24	leading	lead	VERB
fsr-3924	126	25	global	global	ADJ
fsr-3924	126	26	,	,	PUNCT
fsr-3924	126	27	(	(	PUNCT
fsr-3924	126	28	3	3	X
fsr-3924	126	29	)	)	PUNCT
fsr-3924	126	30	growth	growth	NOUN
fsr-3924	126	31	leading	lead	VERB
fsr-3924	126	32	global	global	ADJ
fsr-3924	126	33	,	,	PUNCT
fsr-3924	126	34	(	(	PUNCT
fsr-3924	126	35	4	4	X
fsr-3924	126	36	)	)	PUNCT
fsr-3924	126	37	bond	bond	NOUN
fsr-3924	126	38	leading	lead	VERB
fsr-3924	126	39	global	global	ADJ
fsr-3924	126	40	,	,	PUNCT
fsr-3924	126	41	(	(	PUNCT
fsr-3924	126	42	5	5	X
fsr-3924	126	43	)	)	PUNCT
fsr-3924	126	44	stock	stock	NOUN
fsr-3924	126	45	leading	lead	VERB
fsr-3924	126	46	money	money	NOUN
fsr-3924	126	47	market	market	NOUN
fsr-3924	126	48	,	,	PUNCT
fsr-3924	126	49	(	(	PUNCT
fsr-3924	126	50	6	6	NUM
fsr-3924	126	51	)	)	PUNCT
fsr-3924	126	52	index	index	NOUN
fsr-3924	126	53	leading	lead	VERB
fsr-3924	126	54	money	money	NOUN
fsr-3924	126	55	market	market	NOUN
fsr-3924	126	56	,	,	PUNCT
fsr-3924	126	57	and	and	CCONJ
fsr-3924	126	58	(	(	PUNCT
fsr-3924	126	59	7	7	X
fsr-3924	126	60	)	)	PUNCT
fsr-3924	126	61	bond	bond	NOUN
fsr-3924	126	62	leading	lead	VERB
fsr-3924	126	63	money	money	NOUN
fsr-3924	126	64	market	market	NOUN
fsr-3924	126	65	.	.	PUNCT
fsr-3924	127	1	each	each	PRON
fsr-3924	127	2	of	of	ADP
fsr-3924	127	3	these	these	DET
fsr-3924	127	4	relationships	relationship	NOUN
fsr-3924	127	5	is	be	AUX
fsr-3924	127	6	significant	significant	ADJ
fsr-3924	127	7	at	at	ADP
fsr-3924	127	8	better	well	ADJ
fsr-3924	127	9	than	than	ADP
fsr-3924	127	10	the	the	DET
fsr-3924	127	11	five	five	NUM
fsr-3924	127	12	-	-	PUNCT
fsr-3924	127	13	percent	percent	NOUN
fsr-3924	127	14	level	level	NOUN
fsr-3924	127	15	.	.	PUNCT
fsr-3924	128	1	4.2	4.2	NUM
fsr-3924	128	2	.	.	PUNCT
fsr-3924	128	3	practical	practical	ADJ
fsr-3924	128	4	limitations	limitation	NOUN
fsr-3924	128	5	as	as	ADP
fsr-3924	128	6	miller	miller	NOUN
fsr-3924	128	7	and	and	CCONJ
fsr-3924	128	8	prather	prather	PROPN
fsr-3924	128	9	(	(	PUNCT
fsr-3924	128	10	1999	1999	NUM
fsr-3924	128	11	)	)	PUNCT
fsr-3924	128	12	point	point	VERB
fsr-3924	128	13	out	out	ADP
fsr-3924	128	14	,	,	PUNCT
fsr-3924	128	15	one	one	NUM
fsr-3924	128	16	limitation	limitation	NOUN
fsr-3924	128	17	of	of	ADP
fsr-3924	128	18	trading	trading	NOUN
fsr-3924	128	19	on	on	ADP
fsr-3924	128	20	a	a	DET
fsr-3924	128	21	one	one	NUM
fsr-3924	128	22	-	-	PUNCT
fsr-3924	128	23	day	day	NOUN
fsr-3924	128	24	lag	lag	NOUN
fsr-3924	128	25	is	be	AUX
fsr-3924	128	26	that	that	SCONJ
fsr-3924	128	27	it	it	PRON
fsr-3924	128	28	presupposes	presuppose	VERB
fsr-3924	128	29	that	that	SCONJ
fsr-3924	128	30	an	an	DET
fsr-3924	128	31	investor	investor	NOUN
fsr-3924	128	32	could	could	AUX
fsr-3924	128	33	determine	determine	VERB
fsr-3924	128	34	returns	return	NOUN
fsr-3924	128	35	on	on	ADP
fsr-3924	128	36	the	the	DET
fsr-3924	128	37	asset	asset	NOUN
fsr-3924	128	38	class	class	NOUN
fsr-3924	128	39	during	during	ADP
fsr-3924	128	40	any	any	DET
fsr-3924	128	41	given	give	VERB
fsr-3924	128	42	day	day	NOUN
fsr-3924	128	43	,	,	PUNCT
fsr-3924	128	44	sell	sell	VERB
fsr-3924	128	45	the	the	DET
fsr-3924	128	46	fund	fund	NOUN
fsr-3924	128	47	at	at	ADP
fsr-3924	128	48	the	the	DET
fsr-3924	128	49	close	close	NOUN
fsr-3924	128	50	,	,	PUNCT
fsr-3924	128	51	and	and	CCONJ
fsr-3924	128	52	immediately	immediately	ADV
fsr-3924	128	53	reposition	reposition	VERB
fsr-3924	128	54	the	the	DET
fsr-3924	128	55	assets	asset	NOUN
fsr-3924	128	56	.	.	PUNCT
fsr-3924	129	1	however	however	ADV
fsr-3924	129	2	,	,	PUNCT
fsr-3924	129	3	since	since	SCONJ
fsr-3924	129	4	this	this	DET
fsr-3924	129	5	study	study	NOUN
fsr-3924	129	6	is	be	AUX
fsr-3924	129	7	using	use	VERB
fsr-3924	129	8	retirement	retirement	NOUN
fsr-3924	129	9	annuities	annuity	NOUN
fsr-3924	129	10	as	as	ADP
fsr-3924	129	11	the	the	DET
fsr-3924	129	12	securities	security	NOUN
fsr-3924	129	13	in	in	ADP
fsr-3924	129	14	the	the	DET
fsr-3924	129	15	asset	asset	NOUN
fsr-3924	129	16	class	class	NOUN
fsr-3924	129	17	instead	instead	ADV
fsr-3924	129	18	of	of	ADP
fsr-3924	129	19	individual	individual	ADJ
fsr-3924	129	20	stocks	stock	NOUN
fsr-3924	129	21	,	,	PUNCT
fsr-3924	129	22	this	this	PRON
fsr-3924	129	23	is	be	AUX
fsr-3924	129	24	not	not	PART
fsr-3924	129	25	possible	possible	ADJ
fsr-3924	129	26	.	.	PUNCT
fsr-3924	130	1	the	the	DET
fsr-3924	130	2	returns	return	NOUN
fsr-3924	130	3	are	be	AUX
fsr-3924	130	4	not	not	PART
fsr-3924	130	5	known	know	VERB
fsr-3924	130	6	with	with	ADP
fsr-3924	130	7	certainty	certainty	NOUN
fsr-3924	130	8	until	until	ADP
fsr-3924	130	9	after	after	ADP
fsr-3924	130	10	the	the	DET
fsr-3924	130	11	close	close	NOUN
fsr-3924	130	12	of	of	ADP
fsr-3924	130	13	business	business	NOUN
fsr-3924	130	14	.	.	PUNCT
fsr-3924	131	1	this	this	PRON
fsr-3924	131	2	permits	permit	VERB
fsr-3924	131	3	the	the	DET
fsr-3924	131	4	fund	fund	NOUN
fsr-3924	131	5	to	to	PART
fsr-3924	131	6	compute	compute	VERB
fsr-3924	131	7	net	net	ADJ
fsr-3924	131	8	asset	asset	NOUN
fsr-3924	131	9	value	value	NOUN
fsr-3924	131	10	(	(	PUNCT
fsr-3924	131	11	nav	nav	NOUN
fsr-3924	131	12	)	)	PUNCT
fsr-3924	131	13	after	after	SCONJ
fsr-3924	131	14	closing	close	VERB
fsr-3924	131	15	prices	price	NOUN
fsr-3924	131	16	of	of	ADP
fsr-3924	131	17	the	the	DET
fsr-3924	131	18	securities	security	NOUN
fsr-3924	131	19	in	in	ADP
fsr-3924	131	20	the	the	DET
fsr-3924	131	21	portfolio	portfolio	NOUN
fsr-3924	131	22	are	be	AUX
fsr-3924	131	23	determined	determine	VERB
fsr-3924	131	24	.	.	PUNCT
fsr-3924	132	1	sell	sell	NOUN
fsr-3924	132	2	orders	order	NOUN
fsr-3924	132	3	are	be	AUX
fsr-3924	132	4	executed	execute	VERB
fsr-3924	132	5	at	at	ADP
fsr-3924	132	6	the	the	DET
fsr-3924	132	7	closing	close	VERB
fsr-3924	132	8	nav	nav	NOUN
fsr-3924	132	9	on	on	ADP
fsr-3924	132	10	the	the	DET
fsr-3924	132	11	day	day	NOUN
fsr-3924	132	12	the	the	DET
fsr-3924	132	13	order	order	NOUN
fsr-3924	132	14	is	be	AUX
fsr-3924	132	15	processed	process	VERB
fsr-3924	132	16	and	and	CCONJ
fsr-3924	132	17	buy	buy	VERB
fsr-3924	132	18	orders	order	NOUN
fsr-3924	132	19	are	be	AUX
fsr-3924	132	20	executed	execute	VERB
fsr-3924	132	21	at	at	ADP
fsr-3924	132	22	the	the	DET
fsr-3924	132	23	closing	close	VERB
fsr-3924	132	24	nav	nav	NOUN
fsr-3924	132	25	on	on	ADP
fsr-3924	132	26	the	the	DET
fsr-3924	132	27	day	day	NOUN
fsr-3924	132	28	the	the	DET
fsr-3924	132	29	buy	buy	NOUN
fsr-3924	132	30	order	order	NOUN
fsr-3924	132	31	is	be	AUX
fsr-3924	132	32	processed	process	VERB
fsr-3924	132	33	.	.	PUNCT
fsr-3924	133	1	therefore	therefore	ADV
fsr-3924	133	2	,	,	PUNCT
fsr-3924	133	3	if	if	SCONJ
fsr-3924	133	4	after	after	ADP
fsr-3924	133	5	observing	observe	VERB
fsr-3924	133	6	past	past	ADJ
fsr-3924	133	7	changes	change	NOUN
fsr-3924	133	8	in	in	ADP
fsr-3924	133	9	nav	nav	NOUN
fsr-3924	133	10	,	,	PUNCT
fsr-3924	133	11	an	an	DET
fsr-3924	133	12	order	order	NOUN
fsr-3924	133	13	were	be	AUX
fsr-3924	133	14	placed	place	VERB
fsr-3924	133	15	to	to	PART
fsr-3924	133	16	sell	sell	VERB
fsr-3924	133	17	/	/	SYM
fsr-3924	133	18	buy	buy	NOUN
fsr-3924	133	19	,	,	PUNCT
fsr-3924	133	20	the	the	DET
fsr-3924	133	21	prices	price	NOUN
fsr-3924	133	22	would	would	AUX
fsr-3924	133	23	be	be	AUX
fsr-3924	133	24	the	the	DET
fsr-3924	133	25	prices	price	NOUN
fsr-3924	133	26	on	on	ADP
fsr-3924	133	27	event	event	NOUN
fsr-3924	133	28	day	day	NOUN
fsr-3924	133	29	t1	t1	NOUN
fsr-3924	133	30	1	1	NUM
fsr-3924	133	31	,	,	PUNCT
fsr-3924	133	32	not	not	PART
fsr-3924	133	33	day	day	NOUN
fsr-3924	133	34	t.	t.	PROPN
fsr-3924	133	35	miller	miller	PROPN
fsr-3924	133	36	and	and	CCONJ
fsr-3924	133	37	prather	prather	PROPN
fsr-3924	133	38	(	(	PUNCT
fsr-3924	133	39	1999	1999	NUM
fsr-3924	133	40	)	)	PUNCT
fsr-3924	133	41	deal	deal	NOUN
fsr-3924	133	42	with	with	ADP
fsr-3924	133	43	this	this	DET
fsr-3924	133	44	complication	complication	NOUN
fsr-3924	133	45	by	by	ADP
fsr-3924	133	46	examining	examine	VERB
fsr-3924	133	47	relationships	relationship	NOUN
fsr-3924	133	48	based	base	VERB
fsr-3924	133	49	on	on	ADP
fsr-3924	133	50	a	a	DET
fsr-3924	133	51	two	two	NUM
fsr-3924	133	52	-	-	PUNCT
fsr-3924	133	53	day	day	NOUN
fsr-3924	133	54	lag	lag	NOUN
fsr-3924	133	55	and	and	CCONJ
fsr-3924	133	56	form	form	VERB
fsr-3924	133	57	a	a	DET
fsr-3924	133	58	conservative	conservative	ADJ
fsr-3924	133	59	trading	trading	NOUN
fsr-3924	133	60	strategy	strategy	NOUN
fsr-3924	133	61	using	use	VERB
fsr-3924	133	62	the	the	DET
fsr-3924	133	63	two	two	NUM
fsr-3924	133	64	-	-	PUNCT
fsr-3924	133	65	day	day	NOUN
fsr-3924	133	66	lagged	lag	VERB
fsr-3924	133	67	returns	return	NOUN
fsr-3924	133	68	.	.	PUNCT
fsr-3924	134	1	however	however	ADV
fsr-3924	134	2	,	,	PUNCT
fsr-3924	134	3	they	they	PRON
fsr-3924	134	4	state	state	VERB
fsr-3924	134	5	that	that	SCONJ
fsr-3924	134	6	it	it	PRON
fsr-3924	134	7	is	be	AUX
fsr-3924	134	8	reasonable	reasonable	ADJ
fsr-3924	134	9	to	to	PART
fsr-3924	134	10	believe	believe	VERB
fsr-3924	134	11	that	that	SCONJ
fsr-3924	134	12	investors	investor	NOUN
fsr-3924	134	13	could	could	AUX
fsr-3924	134	14	monitor	monitor	VERB
fsr-3924	134	15	index	index	NOUN
fsr-3924	134	16	returns	return	NOUN
fsr-3924	134	17	and	and	CCONJ
fsr-3924	134	18	make	make	VERB
fsr-3924	134	19	decisions	decision	NOUN
fsr-3924	134	20	to	to	PART
fsr-3924	134	21	trade	trade	VERB
fsr-3924	134	22	based	base	VERB
fsr-3924	134	23	on	on	ADP
fsr-3924	134	24	the	the	DET
fsr-3924	134	25	index	index	NOUN
fsr-3924	134	26	that	that	PRON
fsr-3924	134	27	proxies	proxy	NOUN
fsr-3924	134	28	for	for	ADP
fsr-3924	134	29	their	their	PRON
fsr-3924	134	30	current	current	ADJ
fsr-3924	134	31	asset	asset	NOUN
fsr-3924	134	32	class	class	NOUN
fsr-3924	134	33	.	.	PUNCT
fsr-3924	135	1	we	we	PRON
fsr-3924	135	2	find	find	VERB
fsr-3924	135	3	a	a	DET
fsr-3924	135	4	similar	similar	ADJ
fsr-3924	135	5	two	two	NUM
fsr-3924	135	6	-	-	PUNCT
fsr-3924	135	7	day	day	NOUN
fsr-3924	135	8	lag	lag	NOUN
fsr-3924	135	9	relationship	relationship	NOUN
fsr-3924	135	10	with	with	ADP
fsr-3924	135	11	tiaa	tiaa	ADJ
fsr-3924	135	12	/	/	SYM
fsr-3924	135	13	cref	cref	NOUN
fsr-3924	135	14	data	datum	NOUN
fsr-3924	135	15	(	(	PUNCT
fsr-3924	135	16	not	not	PART
fsr-3924	135	17	reported	report	VERB
fsr-3924	135	18	in	in	ADP
fsr-3924	135	19	the	the	DET
fsr-3924	135	20	paper	paper	NOUN
fsr-3924	135	21	)	)	PUNCT
fsr-3924	135	22	.	.	PUNCT
fsr-3924	136	1	however	however	ADV
fsr-3924	136	2	,	,	PUNCT
fsr-3924	136	3	we	we	PRON
fsr-3924	136	4	base	base	VERB
fsr-3924	136	5	our	our	PRON
fsr-3924	136	6	trading	trading	NOUN
fsr-3924	136	7	rule	rule	NOUN
fsr-3924	136	8	on	on	ADP
fsr-3924	136	9	the	the	DET
fsr-3924	136	10	ability	ability	NOUN
fsr-3924	136	11	to	to	PART
fsr-3924	136	12	monitor	monitor	VERB
fsr-3924	136	13	the	the	DET
fsr-3924	136	14	index	index	NOUN
fsr-3924	136	15	and	and	CCONJ
fsr-3924	136	16	therefore	therefore	ADV
fsr-3924	136	17	,	,	PUNCT
fsr-3924	136	18	use	use	VERB
fsr-3924	136	19	a	a	DET
fsr-3924	136	20	one	one	NUM
fsr-3924	136	21	-	-	PUNCT
fsr-3924	136	22	day	day	NOUN
fsr-3924	136	23	lag	lag	NOUN
fsr-3924	136	24	to	to	PART
fsr-3924	136	25	report	report	VERB
fsr-3924	136	26	results	result	NOUN
fsr-3924	136	27	.	.	PUNCT
fsr-3924	137	1	this	this	PRON
fsr-3924	137	2	is	be	AUX
fsr-3924	137	3	explained	explain	VERB
fsr-3924	137	4	in	in	ADP
fsr-3924	137	5	the	the	DET
fsr-3924	137	6	following	follow	VERB
fsr-3924	137	7	section	section	NOUN
fsr-3924	137	8	.	.	PUNCT
fsr-3924	138	1	4.3	4.3	NUM
fsr-3924	138	2	.	.	PUNCT
fsr-3924	138	3	exploitation	exploitation	NOUN
fsr-3924	138	4	of	of	ADP
fsr-3924	138	5	return	return	NOUN
fsr-3924	138	6	predictability	predictability	NOUN
fsr-3924	138	7	exploiting	exploit	VERB
fsr-3924	138	8	information	information	NOUN
fsr-3924	138	9	provided	provide	VERB
fsr-3924	138	10	by	by	ADP
fsr-3924	138	11	the	the	DET
fsr-3924	138	12	granger	granger	PROPN
fsr-3924	138	13	causality	causality	NOUN
fsr-3924	138	14	tests	test	NOUN
fsr-3924	138	15	requires	require	VERB
fsr-3924	138	16	moving	move	VERB
fsr-3924	138	17	assets	asset	NOUN
fsr-3924	138	18	based	base	VERB
fsr-3924	138	19	on	on	ADP
fsr-3924	138	20	the	the	DET
fsr-3924	138	21	strength	strength	NOUN
fsr-3924	138	22	of	of	ADP
fsr-3924	138	23	the	the	DET
fsr-3924	138	24	statistical	statistical	ADJ
fsr-3924	138	25	relationship	relationship	NOUN
fsr-3924	138	26	.	.	PUNCT
fsr-3924	139	1	therefore	therefore	ADV
fsr-3924	139	2	,	,	PUNCT
fsr-3924	139	3	it	it	PRON
fsr-3924	139	4	is	be	AUX
fsr-3924	139	5	necessary	necessary	ADJ
fsr-3924	139	6	to	to	PART
fsr-3924	139	7	examine	examine	VERB
fsr-3924	139	8	the	the	DET
fsr-3924	139	9	granger	granger	PROPN
fsr-3924	139	10	f	f	NOUN
fsr-3924	139	11	-	-	PUNCT
fsr-3924	139	12	statistic	statistic	ADJ
fsr-3924	139	13	(	(	PUNCT
fsr-3924	139	14	p	p	NOUN
fsr-3924	139	15	-	-	PUNCT
fsr-3924	139	16	value	value	NOUN
fsr-3924	139	17	)	)	PUNCT
fsr-3924	139	18	to	to	PART
fsr-3924	139	19	find	find	VERB
fsr-3924	139	20	the	the	DET
fsr-3924	139	21	strongest	strong	ADJ
fsr-3924	139	22	statistical	statistical	ADJ
fsr-3924	139	23	relationship	relationship	NOUN
fsr-3924	139	24	.	.	PUNCT
fsr-3924	140	1	results	result	NOUN
fsr-3924	140	2	in	in	ADP
fsr-3924	140	3	table	table	NOUN
fsr-3924	140	4	2	2	NUM
fsr-3924	140	5	suggest	suggest	VERB
fsr-3924	140	6	that	that	SCONJ
fsr-3924	140	7	the	the	DET
fsr-3924	140	8	strongest	strong	ADJ
fsr-3924	140	9	relationship	relationship	NOUN
fsr-3924	140	10	is	be	AUX
fsr-3924	140	11	that	that	SCONJ
fsr-3924	140	12	index	index	NOUN
fsr-3924	140	13	causes	cause	VERB
fsr-3924	140	14	global	global	ADJ
fsr-3924	140	15	.	.	PUNCT
fsr-3924	141	1	this	this	PRON
fsr-3924	141	2	is	be	AUX
fsr-3924	141	3	consistent	consistent	ADJ
fsr-3924	141	4	with	with	ADP
fsr-3924	141	5	hamao	hamao	PROPN
fsr-3924	141	6	,	,	PUNCT
fsr-3924	141	7	masulis	masulis	PROPN
fsr-3924	141	8	and	and	CCONJ
fsr-3924	141	9	ng	ng	PROPN
fsr-3924	141	10	(	(	PUNCT
fsr-3924	141	11	1990	1990	NUM
fsr-3924	141	12	)	)	PUNCT
fsr-3924	141	13	who	who	PRON
fsr-3924	141	14	document	document	VERB
fsr-3924	141	15	spillover	spillover	VERB
fsr-3924	141	16	effects	effect	NOUN
fsr-3924	141	17	between	between	ADP
fsr-3924	141	18	u.s	u.s	PROPN
fsr-3924	141	19	.	.	PROPN
fsr-3924	141	20	and	and	CCONJ
fsr-3924	141	21	interna225e.m	interna225e.m	NOUN
fsr-3924	141	22	.	.	PUNCT
fsr-3924	142	1	miller	miller	PROPN
fsr-3924	142	2	,	,	PUNCT
fsr-3924	142	3	l.j	l.j	PROPN
fsr-3924	142	4	.	.	PROPN
fsr-3924	142	5	prather	prather	PROPN
fsr-3924	142	6	/	/	SYM
fsr-3924	142	7	financial	financial	ADJ
fsr-3924	142	8	services	service	NOUN
fsr-3924	142	9	review	review	VERB
fsr-3924	142	10	9	9	NUM
fsr-3924	142	11	(	(	PUNCT
fsr-3924	142	12	2000	2000	NUM
fsr-3924	142	13	)	)	PUNCT
fsr-3924	142	14	219–230	219–230	NUM
fsr-3924	142	15	tional	tional	ADJ
fsr-3924	142	16	markets	market	NOUN
fsr-3924	142	17	.	.	PUNCT
fsr-3924	143	1	one	one	NUM
fsr-3924	143	2	explanation	explanation	NOUN
fsr-3924	143	3	for	for	ADP
fsr-3924	143	4	this	this	PRON
fsr-3924	143	5	is	be	AUX
fsr-3924	143	6	that	that	SCONJ
fsr-3924	143	7	it	it	PRON
fsr-3924	143	8	arises	arise	VERB
fsr-3924	143	9	from	from	ADP
fsr-3924	143	10	an	an	DET
fsr-3924	143	11	asynchronous	asynchronous	ADJ
fsr-3924	143	12	pricing	pricing	NOUN
fsr-3924	143	13	problem	problem	NOUN
fsr-3924	143	14	(	(	PUNCT
fsr-3924	143	15	e.g.	e.g.	ADV
fsr-3924	143	16	,	,	PUNCT
fsr-3924	143	17	chalmers	chalmer	NOUN
fsr-3924	143	18	,	,	PUNCT
fsr-3924	143	19	edelen	edelen	ADJ
fsr-3924	143	20	,	,	PUNCT
fsr-3924	143	21	&	&	CCONJ
fsr-3924	143	22	kadlec	kadlec	PROPN
fsr-3924	143	23	,	,	PUNCT
fsr-3924	143	24	1999	1999	NUM
fsr-3924	143	25	;	;	PUNCT
fsr-3924	143	26	goetzmann	goetzmann	PROPN
fsr-3924	143	27	,	,	PUNCT
fsr-3924	143	28	ivkovic	ivkovic	ADJ
fsr-3924	143	29	´	´	NOUN
fsr-3924	143	30	,	,	PUNCT
fsr-3924	143	31	and	and	CCONJ
fsr-3924	143	32	rouwenhorst	rouwenhorst	ADV
fsr-3924	143	33	,	,	PUNCT
fsr-3924	143	34	2000	2000	NUM
fsr-3924	143	35	;	;	PUNCT
fsr-3924	143	36	varela	varela	PROPN
fsr-3924	143	37	,	,	PUNCT
fsr-3924	143	38	1997	1997	NUM
fsr-3924	143	39	)	)	PUNCT
fsr-3924	143	40	.	.	PUNCT
fsr-3924	144	1	when	when	SCONJ
fsr-3924	144	2	one	one	PRON
fsr-3924	144	3	buys	buy	VERB
fsr-3924	144	4	a	a	DET
fsr-3924	144	5	fund	fund	NOUN
fsr-3924	144	6	the	the	DET
fsr-3924	144	7	net	net	ADJ
fsr-3924	144	8	asset	asset	NOUN
fsr-3924	144	9	value	value	NOUN
fsr-3924	144	10	is	be	AUX
fsr-3924	144	11	based	base	VERB
fsr-3924	144	12	on	on	ADP
fsr-3924	144	13	the	the	DET
fsr-3924	144	14	latest	late	ADJ
fsr-3924	144	15	available	available	ADJ
fsr-3924	144	16	prices	price	NOUN
fsr-3924	144	17	as	as	ADP
fsr-3924	144	18	of	of	ADP
fsr-3924	144	19	the	the	DET
fsr-3924	144	20	time	time	NOUN
fsr-3924	144	21	the	the	DET
fsr-3924	144	22	new	new	PROPN
fsr-3924	144	23	york	york	PROPN
fsr-3924	144	24	stock	stock	PROPN
fsr-3924	144	25	exchange	exchange	PROPN
fsr-3924	144	26	closes	close	VERB
fsr-3924	144	27	(	(	PUNCT
fsr-3924	144	28	4	4	NUM
fsr-3924	144	29	p.m.	p.m.	NOUN
fsr-3924	144	30	eastern	eastern	ADJ
fsr-3924	144	31	time	time	NOUN
fsr-3924	144	32	)	)	PUNCT
fsr-3924	144	33	.	.	PUNCT
fsr-3924	145	1	however	however	ADV
fsr-3924	145	2	,	,	PUNCT
fsr-3924	145	3	for	for	ADP
fsr-3924	145	4	asian	asian	ADJ
fsr-3924	145	5	and	and	CCONJ
fsr-3924	145	6	european	european	ADJ
fsr-3924	145	7	stocks	stock	NOUN
fsr-3924	145	8	the	the	DET
fsr-3924	145	9	latest	late	ADJ
fsr-3924	145	10	available	available	ADJ
fsr-3924	145	11	prices	price	NOUN
fsr-3924	145	12	are	be	AUX
fsr-3924	145	13	many	many	ADJ
fsr-3924	145	14	hours	hour	NOUN
fsr-3924	145	15	old	old	ADJ
fsr-3924	145	16	.	.	PUNCT
fsr-3924	146	1	some	some	DET
fsr-3924	146	2	pieces	piece	NOUN
fsr-3924	146	3	of	of	ADP
fsr-3924	146	4	news	news	NOUN
fsr-3924	146	5	that	that	PRON
fsr-3924	146	6	have	have	AUX
fsr-3924	146	7	affected	affect	VERB
fsr-3924	146	8	the	the	DET
fsr-3924	146	9	u.s	u.s	PROPN
fsr-3924	146	10	.	.	PROPN
fsr-3924	146	11	stocks	stock	NOUN
fsr-3924	146	12	prices	price	NOUN
fsr-3924	146	13	probably	probably	ADV
fsr-3924	146	14	have	have	AUX
fsr-3924	146	15	also	also	ADV
fsr-3924	146	16	affected	affect	VERB
fsr-3924	146	17	the	the	DET
fsr-3924	146	18	values	value	NOUN
fsr-3924	146	19	of	of	ADP
fsr-3924	146	20	these	these	DET
fsr-3924	146	21	foreign	foreign	ADJ
fsr-3924	146	22	stocks	stock	NOUN
fsr-3924	146	23	,	,	PUNCT
fsr-3924	146	24	but	but	CCONJ
fsr-3924	146	25	the	the	DET
fsr-3924	146	26	prices	price	NOUN
fsr-3924	146	27	will	will	AUX
fsr-3924	146	28	not	not	PART
fsr-3924	146	29	actually	actually	ADV
fsr-3924	146	30	change	change	VERB
fsr-3924	146	31	until	until	SCONJ
fsr-3924	146	32	the	the	DET
fsr-3924	146	33	asian	asian	ADJ
fsr-3924	146	34	and	and	CCONJ
fsr-3924	146	35	european	european	ADJ
fsr-3924	146	36	markets	market	NOUN
fsr-3924	146	37	open	open	VERB
fsr-3924	146	38	the	the	DET
fsr-3924	146	39	next	next	ADJ
fsr-3924	146	40	day	day	NOUN
fsr-3924	146	41	.	.	PUNCT
fsr-3924	147	1	this	this	PRON
fsr-3924	147	2	creates	create	VERB
fsr-3924	147	3	an	an	DET
fsr-3924	147	4	opportunity	opportunity	NOUN
fsr-3924	147	5	to	to	PART
fsr-3924	147	6	trade	trade	VERB
fsr-3924	147	7	at	at	ADP
fsr-3924	147	8	stale	stale	ADJ
fsr-3924	147	9	prices	price	NOUN
fsr-3924	147	10	.	.	PUNCT
fsr-3924	148	1	this	this	DET
fsr-3924	148	2	relationship	relationship	NOUN
fsr-3924	148	3	is	be	AUX
fsr-3924	148	4	fortunate	fortunate	ADJ
fsr-3924	148	5	for	for	ADP
fsr-3924	148	6	traders	trader	NOUN
fsr-3924	148	7	because	because	SCONJ
fsr-3924	148	8	the	the	DET
fsr-3924	148	9	returns	return	NOUN
fsr-3924	148	10	on	on	ADP
fsr-3924	148	11	an	an	DET
fsr-3924	148	12	index	index	NOUN
fsr-3924	148	13	fund	fund	NOUN
fsr-3924	148	14	closely	closely	ADV
fsr-3924	148	15	approximate	approximate	VERB
fsr-3924	148	16	the	the	DET
fsr-3924	148	17	returns	return	NOUN
fsr-3924	148	18	on	on	ADP
fsr-3924	148	19	the	the	DET
fsr-3924	148	20	index	index	NOUN
fsr-3924	148	21	it	it	PRON
fsr-3924	148	22	tracks	track	VERB
fsr-3924	148	23	.	.	PUNCT
fsr-3924	149	1	the	the	DET
fsr-3924	149	2	tiaa	tiaa	NOUN
fsr-3924	149	3	/	/	SYM
fsr-3924	149	4	cref	cref	NOUN
fsr-3924	149	5	prospectus	prospectus	NOUN
fsr-3924	149	6	(	(	PUNCT
fsr-3924	149	7	may	may	PROPN
fsr-3924	149	8	2000	2000	NUM
fsr-3924	149	9	)	)	PUNCT
fsr-3924	149	10	indicates	indicate	VERB
fsr-3924	149	11	that	that	SCONJ
fsr-3924	149	12	the	the	DET
fsr-3924	149	13	index	index	NOUN
fsr-3924	149	14	fund	fund	NOUN
fsr-3924	149	15	tracks	track	VERB
fsr-3924	149	16	the	the	DET
fsr-3924	149	17	russell	russell	PROPN
fsr-3924	149	18	3000	3000	NUM
fsr-3924	149	19	index	index	NOUN
fsr-3924	149	20	.	.	PUNCT
fsr-3924	150	1	the	the	DET
fsr-3924	150	2	russell	russell	PROPN
fsr-3924	150	3	3000	3000	NUM
fsr-3924	150	4	index	index	NOUN
fsr-3924	150	5	is	be	AUX
fsr-3924	150	6	an	an	DET
fsr-3924	150	7	unmanaged	unmanaged	ADJ
fsr-3924	150	8	index	index	NOUN
fsr-3924	150	9	of	of	ADP
fsr-3924	150	10	3,000	3,000	NUM
fsr-3924	150	11	of	of	ADP
fsr-3924	150	12	the	the	DET
fsr-3924	150	13	largest	large	ADJ
fsr-3924	150	14	u.s	u.s	PROPN
fsr-3924	150	15	.	.	PROPN
fsr-3924	150	16	companies	company	NOUN
fsr-3924	150	17	(	(	PUNCT
fsr-3924	150	18	based	base	VERB
fsr-3924	150	19	on	on	ADP
fsr-3924	150	20	market	market	NOUN
fsr-3924	150	21	capitalization	capitalization	NOUN
fsr-3924	150	22	)	)	PUNCT
fsr-3924	150	23	.	.	PUNCT
fsr-3924	151	1	the	the	DET
fsr-3924	151	2	index	index	NOUN
fsr-3924	151	3	fund	fund	NOUN
fsr-3924	151	4	does	do	AUX
fsr-3924	151	5	not	not	PART
fsr-3924	151	6	hold	hold	VERB
fsr-3924	151	7	all	all	DET
fsr-3924	151	8	3000	3000	NUM
fsr-3924	151	9	stocks	stock	NOUN
fsr-3924	151	10	but	but	CCONJ
fsr-3924	151	11	uses	use	VERB
fsr-3924	151	12	a	a	DET
fsr-3924	151	13	sampling	sampling	NOUN
fsr-3924	151	14	technique	technique	NOUN
fsr-3924	151	15	to	to	PART
fsr-3924	151	16	closely	closely	ADV
fsr-3924	151	17	replicate	replicate	VERB
fsr-3924	151	18	the	the	DET
fsr-3924	151	19	index	index	NOUN
fsr-3924	151	20	.	.	PUNCT
fsr-3924	152	1	the	the	DET
fsr-3924	152	2	goal	goal	NOUN
fsr-3924	152	3	of	of	ADP
fsr-3924	152	4	tiaa	tiaa	ADJ
fsr-3924	152	5	/	/	SYM
fsr-3924	152	6	cref	cref	NOUN
fsr-3924	152	7	management	management	NOUN
fsr-3924	152	8	is	be	AUX
fsr-3924	152	9	to	to	PART
fsr-3924	152	10	attempt	attempt	VERB
fsr-3924	152	11	to	to	PART
fsr-3924	152	12	match	match	VERB
fsr-3924	152	13	the	the	DET
fsr-3924	152	14	total	total	ADJ
fsr-3924	152	15	return	return	NOUN
fsr-3924	152	16	on	on	ADP
fsr-3924	152	17	the	the	DET
fsr-3924	152	18	russell	russell	PROPN
fsr-3924	152	19	3000	3000	NUM
fsr-3924	152	20	index	index	NOUN
fsr-3924	152	21	but	but	CCONJ
fsr-3924	152	22	with	with	ADP
fsr-3924	152	23	any	any	DET
fsr-3924	152	24	index	index	NOUN
fsr-3924	152	25	fund	fund	NOUN
fsr-3924	152	26	,	,	PUNCT
fsr-3924	152	27	they	they	PRON
fsr-3924	152	28	may	may	AUX
fsr-3924	152	29	not	not	PART
fsr-3924	152	30	always	always	ADV
fsr-3924	152	31	do	do	VERB
fsr-3924	152	32	so	so	ADV
fsr-3924	152	33	.	.	PUNCT
fsr-3924	153	1	as	as	ADP
fsr-3924	153	2	a	a	DET
fsr-3924	153	3	practical	practical	ADJ
fsr-3924	153	4	matter	matter	NOUN
fsr-3924	153	5	,	,	PUNCT
fsr-3924	153	6	the	the	DET
fsr-3924	153	7	tracking	tracking	NOUN
fsr-3924	153	8	error	error	NOUN
fsr-3924	153	9	(	(	PUNCT
fsr-3924	153	10	1	1	NUM
fsr-3924	153	11	-	-	PUNCT
fsr-3924	153	12	r2	r2	NOUN
fsr-3924	153	13	)	)	PUNCT
fsr-3924	153	14	of	of	ADP
fsr-3924	153	15	index	index	NOUN
fsr-3924	153	16	funds	fund	NOUN
fsr-3924	153	17	is	be	AUX
fsr-3924	153	18	typically	typically	ADV
fsr-3924	153	19	very	very	ADV
fsr-3924	153	20	small	small	ADJ
fsr-3924	153	21	.	.	PUNCT
fsr-3924	154	1	while	while	SCONJ
fsr-3924	154	2	the	the	DET
fsr-3924	154	3	values	value	NOUN
fsr-3924	154	4	of	of	ADP
fsr-3924	154	5	the	the	DET
fsr-3924	154	6	index	index	NOUN
fsr-3924	154	7	fund	fund	NOUN
fsr-3924	154	8	are	be	AUX
fsr-3924	154	9	calculated	calculate	VERB
fsr-3924	154	10	only	only	ADV
fsr-3924	154	11	at	at	ADP
fsr-3924	154	12	the	the	DET
fsr-3924	154	13	end	end	NOUN
fsr-3924	154	14	of	of	ADP
fsr-3924	154	15	the	the	DET
fsr-3924	154	16	trading	trading	NOUN
fsr-3924	154	17	day	day	NOUN
fsr-3924	154	18	,	,	PUNCT
fsr-3924	154	19	the	the	DET
fsr-3924	154	20	index	index	NOUN
fsr-3924	154	21	itself	itself	PRON
fsr-3924	154	22	is	be	AUX
fsr-3924	154	23	available	available	ADJ
fsr-3924	154	24	during	during	ADP
fsr-3924	154	25	the	the	DET
fsr-3924	154	26	day	day	NOUN
fsr-3924	154	27	.	.	PUNCT
fsr-3924	155	1	thus	thus	ADV
fsr-3924	155	2	,	,	PUNCT
fsr-3924	155	3	the	the	DET
fsr-3924	155	4	result	result	NOUN
fsr-3924	155	5	of	of	ADP
fsr-3924	155	6	a	a	DET
fsr-3924	155	7	strategy	strategy	NOUN
fsr-3924	155	8	of	of	ADP
fsr-3924	155	9	making	make	VERB
fsr-3924	155	10	decisions	decision	NOUN
fsr-3924	155	11	on	on	ADP
fsr-3924	155	12	the	the	DET
fsr-3924	155	13	closing	closing	NOUN
fsr-3924	155	14	price	price	NOUN
fsr-3924	155	15	of	of	ADP
fsr-3924	155	16	the	the	DET
fsr-3924	155	17	index	index	NOUN
fsr-3924	155	18	fund	fund	NOUN
fsr-3924	155	19	can	can	AUX
fsr-3924	155	20	be	be	AUX
fsr-3924	155	21	approximated	approximate	VERB
fsr-3924	155	22	by	by	ADP
fsr-3924	155	23	checking	check	VERB
fsr-3924	155	24	the	the	DET
fsr-3924	155	25	index	index	NOUN
fsr-3924	155	26	just	just	ADV
fsr-3924	155	27	before	before	ADP
fsr-3924	155	28	the	the	DET
fsr-3924	155	29	closing	closing	NOUN
fsr-3924	155	30	,	,	PUNCT
fsr-3924	155	31	and	and	CCONJ
fsr-3924	155	32	then	then	ADV
fsr-3924	155	33	trading	trading	NOUN
fsr-3924	155	34	based	base	VERB
fsr-3924	155	35	on	on	ADP
fsr-3924	155	36	the	the	DET
fsr-3924	155	37	performance	performance	NOUN
fsr-3924	155	38	of	of	ADP
fsr-3924	155	39	the	the	DET
fsr-3924	155	40	index	index	NOUN
fsr-3924	155	41	.	.	PUNCT
fsr-3924	156	1	this	this	PRON
fsr-3924	156	2	is	be	AUX
fsr-3924	156	3	important	important	ADJ
fsr-3924	156	4	since	since	SCONJ
fsr-3924	156	5	tiaa	tiaa	ADJ
fsr-3924	156	6	/	/	SYM
fsr-3924	156	7	cref	cref	NOUN
fsr-3924	156	8	permits	permit	VERB
fsr-3924	156	9	telephone	telephone	NOUN
fsr-3924	156	10	or	or	CCONJ
fsr-3924	156	11	the	the	DET
fsr-3924	156	12	inter	inter	ADJ
fsr-3924	156	13	/	/	SYM
fsr-3924	156	14	act	act	NOUN
fsr-3924	156	15	internet	internet	NOUN
fsr-3924	156	16	service	service	NOUN
fsr-3924	156	17	transactions	transaction	NOUN
fsr-3924	156	18	.	.	PUNCT
fsr-3924	157	1	any	any	DET
fsr-3924	157	2	transactions	transaction	NOUN
fsr-3924	157	3	received	receive	VERB
fsr-3924	157	4	before	before	SCONJ
fsr-3924	157	5	the	the	DET
fsr-3924	157	6	market	market	NOUN
fsr-3924	157	7	closes	close	VERB
fsr-3924	157	8	will	will	AUX
fsr-3924	157	9	be	be	AUX
fsr-3924	157	10	executed	execute	VERB
fsr-3924	157	11	that	that	DET
fsr-3924	157	12	day	day	NOUN
fsr-3924	157	13	.	.	PUNCT
fsr-3924	158	1	the	the	DET
fsr-3924	158	2	tiaa	tiaa	ADJ
fsr-3924	158	3	/	/	SYM
fsr-3924	158	4	cref	cref	NOUN
fsr-3924	158	5	prospectus	prospectus	NOUN
fsr-3924	158	6	indicates	indicate	VERB
fsr-3924	158	7	that	that	SCONJ
fsr-3924	158	8	the	the	DET
fsr-3924	158	9	global	global	ADJ
fsr-3924	158	10	fund	fund	NOUN
fsr-3924	158	11	invests	invest	NOUN
fsr-3924	158	12	at	at	ADV
fsr-3924	158	13	least	least	ADV
fsr-3924	158	14	65	65	NUM
fsr-3924	158	15	%	%	NOUN
fsr-3924	158	16	of	of	ADP
fsr-3924	158	17	its	its	PRON
fsr-3924	158	18	assets	asset	NOUN
fsr-3924	158	19	in	in	ADP
fsr-3924	158	20	equity	equity	NOUN
fsr-3924	158	21	securities	security	NOUN
fsr-3924	158	22	of	of	ADP
fsr-3924	158	23	foreign	foreign	ADJ
fsr-3924	158	24	and	and	CCONJ
fsr-3924	158	25	domestic	domestic	ADJ
fsr-3924	158	26	companies	company	NOUN
fsr-3924	158	27	.	.	PUNCT
fsr-3924	159	1	typically	typically	ADV
fsr-3924	159	2	,	,	PUNCT
fsr-3924	159	3	at	at	ADV
fsr-3924	159	4	least	least	ADV
fsr-3924	159	5	40	40	NUM
fsr-3924	159	6	%	%	NOUN
fsr-3924	159	7	of	of	ADP
fsr-3924	159	8	assets	asset	NOUN
fsr-3924	159	9	are	be	AUX
fsr-3924	159	10	allocated	allocate	VERB
fsr-3924	159	11	to	to	ADP
fsr-3924	159	12	foreign	foreign	ADJ
fsr-3924	159	13	securities	security	NOUN
fsr-3924	159	14	and	and	CCONJ
fsr-3924	159	15	25	25	NUM
fsr-3924	159	16	%	%	NOUN
fsr-3924	159	17	of	of	ADP
fsr-3924	159	18	assets	asset	NOUN
fsr-3924	159	19	are	be	AUX
fsr-3924	159	20	allocated	allocate	VERB
fsr-3924	159	21	to	to	ADP
fsr-3924	159	22	domestic	domestic	ADJ
fsr-3924	159	23	securities	security	NOUN
fsr-3924	159	24	.	.	PUNCT
fsr-3924	160	1	the	the	DET
fsr-3924	160	2	remaining	remain	VERB
fsr-3924	160	3	35	35	NUM
fsr-3924	160	4	%	%	NOUN
fsr-3924	160	5	of	of	ADP
fsr-3924	160	6	assets	asset	NOUN
fsr-3924	160	7	are	be	AUX
fsr-3924	160	8	distributed	distribute	VERB
fsr-3924	160	9	between	between	ADP
fsr-3924	160	10	foreign	foreign	ADJ
fsr-3924	160	11	and	and	CCONJ
fsr-3924	160	12	domestic	domestic	ADJ
fsr-3924	160	13	securities	security	NOUN
fsr-3924	160	14	based	base	VERB
fsr-3924	160	15	upon	upon	SCONJ
fsr-3924	160	16	market	market	NOUN
fsr-3924	160	17	conditions	condition	NOUN
fsr-3924	160	18	.	.	PUNCT
fsr-3924	161	1	the	the	DET
fsr-3924	161	2	cref	cref	PROPN
fsr-3924	161	3	global	global	PROPN
fsr-3924	161	4	fund	fund	PROPN
fsr-3924	161	5	usually	usually	ADV
fsr-3924	161	6	has	have	VERB
fsr-3924	161	7	only	only	ADV
fsr-3924	161	8	a	a	DET
fsr-3924	161	9	minority	minority	NOUN
fsr-3924	161	10	of	of	ADP
fsr-3924	161	11	its	its	PRON
fsr-3924	161	12	funds	fund	NOUN
fsr-3924	161	13	in	in	ADP
fsr-3924	161	14	foreign	foreign	ADJ
fsr-3924	161	15	stocks	stock	NOUN
fsr-3924	161	16	.	.	PUNCT
fsr-3924	162	1	many	many	ADJ
fsr-3924	162	2	other	other	ADJ
fsr-3924	162	3	fund	fund	NOUN
fsr-3924	162	4	families	family	NOUN
fsr-3924	162	5	include	include	VERB
fsr-3924	162	6	foreign	foreign	ADJ
fsr-3924	162	7	stock	stock	NOUN
fsr-3924	162	8	funds	fund	NOUN
fsr-3924	162	9	that	that	PRON
fsr-3924	162	10	hold	hold	VERB
fsr-3924	162	11	most	most	ADJ
fsr-3924	162	12	of	of	ADP
fsr-3924	162	13	their	their	PRON
fsr-3924	162	14	equity	equity	NOUN
fsr-3924	162	15	positions	position	NOUN
fsr-3924	162	16	in	in	ADP
fsr-3924	162	17	asian	asian	ADJ
fsr-3924	162	18	and	and	CCONJ
fsr-3924	162	19	european	european	ADJ
fsr-3924	162	20	stocks	stock	NOUN
fsr-3924	162	21	.	.	PUNCT
fsr-3924	163	1	if	if	SCONJ
fsr-3924	163	2	there	there	PRON
fsr-3924	163	3	is	be	VERB
fsr-3924	163	4	an	an	DET
fsr-3924	163	5	exploitable	exploitable	ADJ
fsr-3924	163	6	effect	effect	NOUN
fsr-3924	163	7	for	for	ADP
fsr-3924	163	8	the	the	DET
fsr-3924	163	9	cref	cref	NOUN
fsr-3924	163	10	funds	fund	NOUN
fsr-3924	163	11	,	,	PUNCT
fsr-3924	163	12	a	a	DET
fsr-3924	163	13	similar	similar	ADJ
fsr-3924	163	14	strategy	strategy	NOUN
fsr-3924	163	15	would	would	AUX
fsr-3924	163	16	probably	probably	ADV
fsr-3924	163	17	be	be	AUX
fsr-3924	163	18	even	even	ADV
fsr-3924	163	19	more	more	ADV
fsr-3924	163	20	profitable	profitable	ADJ
fsr-3924	163	21	for	for	ADP
fsr-3924	163	22	many	many	ADJ
fsr-3924	163	23	other	other	ADJ
fsr-3924	163	24	fund	fund	NOUN
fsr-3924	163	25	families	family	NOUN
fsr-3924	163	26	and	and	CCONJ
fsr-3924	163	27	retirement	retirement	NOUN
fsr-3924	163	28	plans	plan	NOUN
fsr-3924	163	29	that	that	PRON
fsr-3924	163	30	permit	permit	VERB
fsr-3924	163	31	frequent	frequent	ADJ
fsr-3924	163	32	trading	trading	NOUN
fsr-3924	163	33	.	.	PUNCT
fsr-3924	164	1	since	since	SCONJ
fsr-3924	164	2	investors	investor	NOUN
fsr-3924	164	3	can	can	AUX
fsr-3924	164	4	monitor	monitor	VERB
fsr-3924	164	5	the	the	DET
fsr-3924	164	6	russell	russell	PROPN
fsr-3924	164	7	3000	3000	NUM
fsr-3924	164	8	,	,	PUNCT
fsr-3924	164	9	our	our	PRON
fsr-3924	164	10	trading	trading	NOUN
fsr-3924	164	11	strategy	strategy	NOUN
fsr-3924	164	12	is	be	AUX
fsr-3924	164	13	based	base	VERB
fsr-3924	164	14	on	on	ADP
fsr-3924	164	15	a	a	DET
fsr-3924	164	16	one	one	NUM
fsr-3924	164	17	-	-	PUNCT
fsr-3924	164	18	day	day	NOUN
fsr-3924	164	19	lag	lag	NOUN
fsr-3924	164	20	.	.	PUNCT
fsr-3924	165	1	this	this	DET
fsr-3924	165	2	strategy	strategy	NOUN
fsr-3924	165	3	calls	call	VERB
fsr-3924	165	4	for	for	ADP
fsr-3924	165	5	moving	move	VERB
fsr-3924	165	6	assets	asset	NOUN
fsr-3924	165	7	from	from	ADP
fsr-3924	165	8	index	index	NOUN
fsr-3924	165	9	to	to	ADP
fsr-3924	165	10	global	global	ADJ
fsr-3924	165	11	on	on	ADP
fsr-3924	165	12	a	a	DET
fsr-3924	165	13	positive	positive	ADJ
fsr-3924	165	14	return	return	NOUN
fsr-3924	165	15	in	in	ADP
fsr-3924	165	16	index	index	NOUN
fsr-3924	165	17	.	.	PUNCT
fsr-3924	166	1	this	this	DET
fsr-3924	166	2	move	move	NOUN
fsr-3924	166	3	is	be	AUX
fsr-3924	166	4	made	make	VERB
fsr-3924	166	5	since	since	SCONJ
fsr-3924	166	6	the	the	DET
fsr-3924	166	7	investor	investor	NOUN
fsr-3924	166	8	can	can	AUX
fsr-3924	166	9	use	use	VERB
fsr-3924	166	10	knowledge	knowledge	NOUN
fsr-3924	166	11	of	of	ADP
fsr-3924	166	12	return	return	NOUN
fsr-3924	166	13	predictability	predictability	NOUN
fsr-3924	166	14	to	to	PART
fsr-3924	166	15	predict	predict	VERB
fsr-3924	166	16	a	a	DET
fsr-3924	166	17	positive	positive	ADJ
fsr-3924	166	18	global	global	ADJ
fsr-3924	166	19	return	return	NOUN
fsr-3924	166	20	.	.	PUNCT
fsr-3924	167	1	the	the	DET
fsr-3924	167	2	investor	investor	NOUN
fsr-3924	167	3	stays	stay	VERB
fsr-3924	167	4	in	in	ADP
fsr-3924	167	5	global	global	ADJ
fsr-3924	167	6	until	until	SCONJ
fsr-3924	167	7	a	a	DET
fsr-3924	167	8	negative	negative	ADJ
fsr-3924	167	9	return	return	NOUN
fsr-3924	167	10	is	be	AUX
fsr-3924	167	11	observed	observe	VERB
fsr-3924	167	12	for	for	ADP
fsr-3924	167	13	index	index	NOUN
fsr-3924	167	14	.	.	PUNCT
fsr-3924	168	1	upon	upon	SCONJ
fsr-3924	168	2	observing	observe	VERB
fsr-3924	168	3	a	a	DET
fsr-3924	168	4	negative	negative	ADJ
fsr-3924	168	5	return	return	NOUN
fsr-3924	168	6	on	on	ADP
fsr-3924	168	7	index	index	NOUN
fsr-3924	168	8	,	,	PUNCT
fsr-3924	168	9	the	the	DET
fsr-3924	168	10	investor	investor	NOUN
fsr-3924	168	11	returns	return	NOUN
fsr-3924	168	12	to	to	ADP
fsr-3924	168	13	index	index	NOUN
fsr-3924	168	14	(	(	PUNCT
fsr-3924	168	15	to	to	PART
fsr-3924	168	16	avoid	avoid	VERB
fsr-3924	168	17	a	a	DET
fsr-3924	168	18	negative	negative	ADJ
fsr-3924	168	19	return	return	NOUN
fsr-3924	168	20	in	in	ADP
fsr-3924	168	21	global	global	ADJ
fsr-3924	168	22	during	during	ADP
fsr-3924	168	23	the	the	DET
fsr-3924	168	24	upcoming	upcoming	ADJ
fsr-3924	168	25	period	period	NOUN
fsr-3924	168	26	)	)	PUNCT
fsr-3924	168	27	.	.	PUNCT
fsr-3924	169	1	since	since	SCONJ
fsr-3924	169	2	global	global	ADJ
fsr-3924	169	3	does	do	AUX
fsr-3924	169	4	not	not	PART
fsr-3924	169	5	lead	lead	VERB
fsr-3924	169	6	index	index	NOUN
fsr-3924	169	7	,	,	PUNCT
fsr-3924	169	8	there	there	PRON
fsr-3924	169	9	is	be	VERB
fsr-3924	169	10	no	no	DET
fsr-3924	169	11	reason	reason	NOUN
fsr-3924	169	12	to	to	PART
fsr-3924	169	13	believe	believe	VERB
fsr-3924	169	14	that	that	SCONJ
fsr-3924	169	15	index	index	NOUN
fsr-3924	169	16	will	will	AUX
fsr-3924	169	17	be	be	AUX
fsr-3924	169	18	negative	negative	ADJ
fsr-3924	169	19	in	in	ADP
fsr-3924	169	20	the	the	DET
fsr-3924	169	21	next	next	ADJ
fsr-3924	169	22	period	period	NOUN
fsr-3924	169	23	.	.	PUNCT
fsr-3924	170	1	this	this	DET
fsr-3924	170	2	pattern	pattern	NOUN
fsr-3924	170	3	is	be	AUX
fsr-3924	170	4	consistent	consistent	ADJ
fsr-3924	170	5	with	with	ADP
fsr-3924	170	6	the	the	DET
fsr-3924	170	7	findings	finding	NOUN
fsr-3924	170	8	of	of	ADP
fsr-3924	170	9	hamao	hamao	PROPN
fsr-3924	170	10	,	,	PUNCT
fsr-3924	170	11	masulis	masulis	PROPN
fsr-3924	170	12	and	and	CCONJ
fsr-3924	170	13	ng	ng	PROPN
fsr-3924	170	14	(	(	PUNCT
fsr-3924	170	15	1990	1990	NUM
fsr-3924	170	16	)	)	PUNCT
fsr-3924	170	17	.	.	PUNCT
fsr-3924	171	1	it	it	PRON
fsr-3924	171	2	is	be	AUX
fsr-3924	171	3	worthwhile	worthwhile	ADJ
fsr-3924	171	4	examining	examine	VERB
fsr-3924	171	5	the	the	DET
fsr-3924	171	6	magnitude	magnitude	NOUN
fsr-3924	171	7	of	of	ADP
fsr-3924	171	8	the	the	DET
fsr-3924	171	9	predictable	predictable	ADJ
fsr-3924	171	10	component	component	NOUN
fsr-3924	171	11	to	to	PART
fsr-3924	171	12	determine	determine	VERB
fsr-3924	171	13	the	the	DET
fsr-3924	171	14	potential	potential	ADJ
fsr-3924	171	15	gain	gain	NOUN
fsr-3924	171	16	from	from	ADP
fsr-3924	171	17	trading	trading	NOUN
fsr-3924	171	18	.	.	PUNCT
fsr-3924	172	1	table	table	NOUN
fsr-3924	172	2	3	3	NUM
fsr-3924	172	3	provides	provide	VERB
fsr-3924	172	4	results	result	NOUN
fsr-3924	172	5	of	of	ADP
fsr-3924	172	6	regressing	regress	VERB
fsr-3924	172	7	returns	return	NOUN
fsr-3924	172	8	of	of	ADP
fsr-3924	172	9	the	the	DET
fsr-3924	172	10	global	global	ADJ
fsr-3924	172	11	annuity	annuity	NOUN
fsr-3924	172	12	on	on	ADP
fsr-3924	172	13	one	one	NUM
fsr-3924	172	14	-	-	PUNCT
fsr-3924	172	15	day	day	NOUN
fsr-3924	172	16	lagged	lag	VERB
fsr-3924	172	17	returns	return	NOUN
fsr-3924	172	18	of	of	ADP
fsr-3924	172	19	the	the	DET
fsr-3924	172	20	index	index	NOUN
fsr-3924	172	21	annuity	annuity	NOUN
fsr-3924	172	22	.	.	PUNCT
fsr-3924	173	1	results	result	NOUN
fsr-3924	173	2	suggest	suggest	VERB
fsr-3924	173	3	that	that	SCONJ
fsr-3924	173	4	a	a	DET
fsr-3924	173	5	positive	positive	ADJ
fsr-3924	173	6	one	one	NUM
fsr-3924	173	7	-	-	PUNCT
fsr-3924	173	8	percent	percent	NOUN
fsr-3924	173	9	return	return	NOUN
fsr-3924	173	10	by	by	ADP
fsr-3924	173	11	the	the	DET
fsr-3924	173	12	index	index	NOUN
fsr-3924	173	13	annuity	annuity	NOUN
fsr-3924	173	14	on	on	ADP
fsr-3924	173	15	day	day	NOUN
fsr-3924	173	16	t	t	PROPN
fsr-3924	173	17	should	should	AUX
fsr-3924	173	18	lead	lead	VERB
fsr-3924	173	19	to	to	ADP
fsr-3924	173	20	an	an	DET
fsr-3924	173	21	average	average	ADJ
fsr-3924	173	22	positive	positive	ADJ
fsr-3924	173	23	return	return	NOUN
fsr-3924	173	24	on	on	ADP
fsr-3924	173	25	the	the	DET
fsr-3924	173	26	global	global	ADJ
fsr-3924	173	27	annuity	annuity	NOUN
fsr-3924	173	28	of	of	ADP
fsr-3924	173	29	0.3	0.3	NUM
fsr-3924	173	30	%	%	NOUN
fsr-3924	173	31	return	return	NOUN
fsr-3924	173	32	on	on	ADP
fsr-3924	173	33	day	day	NOUN
fsr-3924	173	34	t1	t1	NOUN
fsr-3924	173	35	1	1	NUM
fsr-3924	173	36	.	.	X
fsr-3924	174	1	226	226	NUM
fsr-3924	174	2	e.m	e.m	PROPN
fsr-3924	174	3	.	.	PROPN
fsr-3924	174	4	miller	miller	PROPN
fsr-3924	174	5	,	,	PUNCT
fsr-3924	174	6	l.j	l.j	PROPN
fsr-3924	174	7	.	.	PROPN
fsr-3924	174	8	prather	prather	PROPN
fsr-3924	174	9	/	/	SYM
fsr-3924	174	10	financial	financial	ADJ
fsr-3924	174	11	services	service	NOUN
fsr-3924	174	12	review	review	VERB
fsr-3924	174	13	9	9	NUM
fsr-3924	174	14	(	(	PUNCT
fsr-3924	174	15	2000	2000	NUM
fsr-3924	174	16	)	)	PUNCT
fsr-3924	175	1	219–230	219–230	NUM
fsr-3924	175	2	a	a	DET
fsr-3924	175	3	practical	practical	ADJ
fsr-3924	175	4	constraint	constraint	NOUN
fsr-3924	175	5	faced	face	VERB
fsr-3924	175	6	by	by	ADP
fsr-3924	175	7	an	an	DET
fsr-3924	175	8	informed	informed	ADJ
fsr-3924	175	9	trader	trader	NOUN
fsr-3924	175	10	is	be	AUX
fsr-3924	175	11	that	that	SCONJ
fsr-3924	175	12	tiaa	tiaa	ADJ
fsr-3924	175	13	/	/	SYM
fsr-3924	175	14	cref	cref	NOUN
fsr-3924	175	15	will	will	AUX
fsr-3924	175	16	not	not	PART
fsr-3924	175	17	permit	permit	VERB
fsr-3924	175	18	frequent	frequent	ADJ
fsr-3924	175	19	movement	movement	NOUN
fsr-3924	175	20	of	of	ADP
fsr-3924	175	21	assets	asset	NOUN
fsr-3924	175	22	from	from	ADP
fsr-3924	175	23	one	one	NUM
fsr-3924	175	24	asset	asset	NOUN
fsr-3924	175	25	class	class	NOUN
fsr-3924	175	26	to	to	ADP
fsr-3924	175	27	another	another	PRON
fsr-3924	175	28	.	.	PUNCT
fsr-3924	176	1	the	the	DET
fsr-3924	176	2	cref	cref	NOUN
fsr-3924	176	3	prospectus	prospectus	NOUN
fsr-3924	176	4	dated	date	VERB
fsr-3924	176	5	may	may	PROPN
fsr-3924	176	6	1	1	NUM
fsr-3924	176	7	,	,	PUNCT
fsr-3924	176	8	2000	2000	NUM
fsr-3924	176	9	,	,	PUNCT
fsr-3924	176	10	states	state	VERB
fsr-3924	176	11	“	"	PUNCT
fsr-3924	176	12	participants	participant	NOUN
fsr-3924	176	13	who	who	PRON
fsr-3924	176	14	make	make	VERB
fsr-3924	176	15	more	more	ADJ
fsr-3924	176	16	than	than	ADP
fsr-3924	176	17	three	three	NUM
fsr-3924	176	18	transfers	transfer	NOUN
fsr-3924	176	19	out	out	ADP
fsr-3924	176	20	of	of	ADP
fsr-3924	176	21	any	any	DET
fsr-3924	176	22	account	account	NOUN
fsr-3924	176	23	(	(	PUNCT
fsr-3924	176	24	other	other	ADJ
fsr-3924	176	25	than	than	ADP
fsr-3924	176	26	the	the	DET
fsr-3924	176	27	money	money	NOUN
fsr-3924	176	28	market	market	NOUN
fsr-3924	176	29	account	account	NOUN
fsr-3924	176	30	)	)	PUNCT
fsr-3924	176	31	in	in	ADP
fsr-3924	176	32	a	a	DET
fsr-3924	176	33	calendar	calendar	NOUN
fsr-3924	176	34	month	month	NOUN
fsr-3924	176	35	will	will	AUX
fsr-3924	176	36	be	be	AUX
fsr-3924	176	37	advised	advise	VERB
fsr-3924	176	38	that	that	SCONJ
fsr-3924	176	39	if	if	SCONJ
fsr-3924	176	40	this	this	DET
fsr-3924	176	41	transfer	transfer	NOUN
fsr-3924	176	42	frequency	frequency	NOUN
fsr-3924	176	43	continues	continue	VERB
fsr-3924	176	44	,	,	PUNCT
fsr-3924	176	45	we	we	PRON
fsr-3924	176	46	will	will	AUX
fsr-3924	176	47	suspend	suspend	VERB
fsr-3924	176	48	their	their	PRON
fsr-3924	176	49	ability	ability	NOUN
fsr-3924	176	50	to	to	PART
fsr-3924	176	51	make	make	VERB
fsr-3924	176	52	telephone	telephone	NOUN
fsr-3924	176	53	,	,	PUNCT
fsr-3924	176	54	fax	fax	NOUN
fsr-3924	176	55	,	,	PUNCT
fsr-3924	176	56	and	and	CCONJ
fsr-3924	176	57	internet	internet	NOUN
fsr-3924	176	58	transfers	transfer	NOUN
fsr-3924	176	59	”	"	PUNCT
fsr-3924	176	60	(	(	PUNCT
fsr-3924	176	61	p.	p.	NOUN
fsr-3924	176	62	36	36	NUM
fsr-3924	176	63	)	)	PUNCT
fsr-3924	176	64	.	.	PUNCT
fsr-3924	177	1	this	this	DET
fsr-3924	177	2	places	place	NOUN
fsr-3924	177	3	constraints	constraint	VERB
fsr-3924	177	4	on	on	ADP
fsr-3924	177	5	knowledgeable	knowledgeable	ADJ
fsr-3924	177	6	investors	investor	NOUN
fsr-3924	177	7	attempting	attempt	VERB
fsr-3924	177	8	to	to	PART
fsr-3924	177	9	capitalize	capitalize	VERB
fsr-3924	177	10	on	on	ADP
fsr-3924	177	11	return	return	NOUN
fsr-3924	177	12	predictabilities	predictability	NOUN
fsr-3924	177	13	.	.	PUNCT
fsr-3924	178	1	an	an	DET
fsr-3924	178	2	examination	examination	NOUN
fsr-3924	178	3	of	of	ADP
fsr-3924	178	4	the	the	DET
fsr-3924	178	5	data	data	NOUN
fsr-3924	178	6	shows	show	VERB
fsr-3924	178	7	that	that	SCONJ
fsr-3924	178	8	the	the	DET
fsr-3924	178	9	index	index	NOUN
fsr-3924	178	10	returns	return	NOUN
fsr-3924	178	11	were	be	AUX
fsr-3924	178	12	positive	positive	ADJ
fsr-3924	178	13	on	on	ADP
fsr-3924	178	14	387	387	NUM
fsr-3924	178	15	days	day	NOUN
fsr-3924	178	16	in	in	ADP
fsr-3924	178	17	the	the	DET
fsr-3924	178	18	second	second	ADJ
fsr-3924	178	19	sample	sample	NOUN
fsr-3924	178	20	period	period	NOUN
fsr-3924	178	21	(	(	PUNCT
fsr-3924	178	22	53	53	NUM
fsr-3924	178	23	%	%	NOUN
fsr-3924	178	24	)	)	PUNCT
fsr-3924	178	25	.	.	PUNCT
fsr-3924	179	1	returns	return	NOUN
fsr-3924	179	2	for	for	ADP
fsr-3924	179	3	global	global	ADJ
fsr-3924	179	4	were	be	AUX
fsr-3924	179	5	similar	similar	ADJ
fsr-3924	179	6	with	with	ADP
fsr-3924	179	7	414	414	NUM
fsr-3924	179	8	positive	positive	ADJ
fsr-3924	179	9	daily	daily	ADJ
fsr-3924	179	10	returns	return	NOUN
fsr-3924	179	11	(	(	PUNCT
fsr-3924	179	12	57	57	NUM
fsr-3924	179	13	%	%	NOUN
fsr-3924	179	14	)	)	PUNCT
fsr-3924	179	15	.	.	PUNCT
fsr-3924	180	1	additionally	additionally	ADV
fsr-3924	180	2	,	,	PUNCT
fsr-3924	180	3	global	global	PROPN
fsr-3924	180	4	had	have	VERB
fsr-3924	180	5	a	a	DET
fsr-3924	180	6	positive	positive	ADJ
fsr-3924	180	7	return	return	NOUN
fsr-3924	180	8	on	on	ADP
fsr-3924	180	9	254	254	NUM
fsr-3924	180	10	of	of	ADP
fsr-3924	180	11	the	the	DET
fsr-3924	180	12	387	387	NUM
fsr-3924	180	13	trading	trading	NOUN
fsr-3924	180	14	days	day	NOUN
fsr-3924	180	15	following	follow	VERB
fsr-3924	180	16	a	a	DET
fsr-3924	180	17	positive	positive	ADJ
fsr-3924	180	18	return	return	NOUN
fsr-3924	180	19	on	on	ADP
fsr-3924	180	20	the	the	DET
fsr-3924	180	21	index	index	NOUN
fsr-3924	180	22	(	(	PUNCT
fsr-3924	180	23	66	66	NUM
fsr-3924	180	24	%	%	NOUN
fsr-3924	180	25	)	)	PUNCT
fsr-3924	180	26	.	.	PUNCT
fsr-3924	181	1	therefore	therefore	ADV
fsr-3924	181	2	,	,	PUNCT
fsr-3924	181	3	an	an	DET
fsr-3924	181	4	examination	examination	NOUN
fsr-3924	181	5	of	of	ADP
fsr-3924	181	6	the	the	DET
fsr-3924	181	7	return	return	NOUN
fsr-3924	181	8	distributions	distribution	NOUN
fsr-3924	181	9	is	be	AUX
fsr-3924	181	10	required	require	VERB
fsr-3924	181	11	prior	prior	ADV
fsr-3924	181	12	to	to	ADP
fsr-3924	181	13	attempting	attempt	VERB
fsr-3924	181	14	to	to	PART
fsr-3924	181	15	form	form	VERB
fsr-3924	181	16	any	any	DET
fsr-3924	181	17	implementable	implementable	ADJ
fsr-3924	181	18	rule	rule	NOUN
fsr-3924	181	19	since	since	SCONJ
fsr-3924	181	20	the	the	DET
fsr-3924	181	21	frequent	frequent	ADJ
fsr-3924	181	22	trading	trading	NOUN
fsr-3924	181	23	suggested	suggest	VERB
fsr-3924	181	24	by	by	ADP
fsr-3924	181	25	this	this	DET
fsr-3924	181	26	simple	simple	ADJ
fsr-3924	181	27	rule	rule	NOUN
fsr-3924	181	28	would	would	AUX
fsr-3924	181	29	be	be	AUX
fsr-3924	181	30	prohibited	prohibit	VERB
fsr-3924	181	31	by	by	ADP
fsr-3924	181	32	tiaa	tiaa	ADJ
fsr-3924	181	33	/	/	SYM
fsr-3924	181	34	cref	cref	NOUN
fsr-3924	181	35	.	.	PUNCT
fsr-3924	182	1	in	in	ADP
fsr-3924	182	2	order	order	NOUN
fsr-3924	182	3	to	to	PART
fsr-3924	182	4	limit	limit	VERB
fsr-3924	182	5	the	the	DET
fsr-3924	182	6	number	number	NOUN
fsr-3924	182	7	of	of	ADP
fsr-3924	182	8	trades	trade	NOUN
fsr-3924	182	9	,	,	PUNCT
fsr-3924	182	10	the	the	DET
fsr-3924	182	11	sample	sample	NOUN
fsr-3924	182	12	was	be	AUX
fsr-3924	182	13	examined	examine	VERB
fsr-3924	182	14	to	to	PART
fsr-3924	182	15	ascertain	ascertain	VERB
fsr-3924	182	16	the	the	DET
fsr-3924	182	17	characteristics	characteristic	NOUN
fsr-3924	182	18	of	of	ADP
fsr-3924	182	19	the	the	DET
fsr-3924	182	20	distribution	distribution	NOUN
fsr-3924	182	21	of	of	ADP
fsr-3924	182	22	returns	return	NOUN
fsr-3924	182	23	.	.	PUNCT
fsr-3924	183	1	the	the	DET
fsr-3924	183	2	goal	goal	NOUN
fsr-3924	183	3	is	be	AUX
fsr-3924	183	4	to	to	PART
fsr-3924	183	5	be	be	AUX
fsr-3924	183	6	able	able	ADJ
fsr-3924	183	7	to	to	PART
fsr-3924	183	8	trade	trade	VERB
fsr-3924	183	9	only	only	ADV
fsr-3924	183	10	on	on	ADP
fsr-3924	183	11	the	the	DET
fsr-3924	183	12	most	most	ADV
fsr-3924	183	13	positive	positive	ADJ
fsr-3924	183	14	index	index	NOUN
fsr-3924	183	15	returns	return	NOUN
fsr-3924	183	16	,	,	PUNCT
fsr-3924	183	17	not	not	PART
fsr-3924	183	18	just	just	ADV
fsr-3924	183	19	any	any	DET
fsr-3924	183	20	positive	positive	ADJ
fsr-3924	183	21	index	index	NOUN
fsr-3924	183	22	return	return	NOUN
fsr-3924	183	23	.	.	PUNCT
fsr-3924	184	1	as	as	ADP
fsr-3924	184	2	a	a	DET
fsr-3924	184	3	starting	starting	NOUN
fsr-3924	184	4	point	point	NOUN
fsr-3924	184	5	,	,	PUNCT
fsr-3924	184	6	we	we	PRON
fsr-3924	184	7	selected	select	VERB
fsr-3924	184	8	a	a	DET
fsr-3924	184	9	return	return	NOUN
fsr-3924	184	10	slightly	slightly	ADV
fsr-3924	184	11	higher	high	ADJ
fsr-3924	184	12	than	than	ADP
fsr-3924	184	13	the	the	DET
fsr-3924	184	14	top	top	ADJ
fsr-3924	184	15	twenty	twenty	NUM
fsr-3924	184	16	percent	percent	NOUN
fsr-3924	184	17	(	(	PUNCT
fsr-3924	184	18	0.0093	0.0093	NUM
fsr-3924	184	19	)	)	PUNCT
fsr-3924	184	20	as	as	ADP
fsr-3924	184	21	the	the	DET
fsr-3924	184	22	trigger	trigger	NOUN
fsr-3924	184	23	point	point	NOUN
fsr-3924	184	24	for	for	ADP
fsr-3924	184	25	moving	move	VERB
fsr-3924	184	26	into	into	ADP
fsr-3924	184	27	global	global	ADJ
fsr-3924	184	28	.	.	PUNCT
fsr-3924	185	1	prior	prior	ADV
fsr-3924	185	2	to	to	ADP
fsr-3924	185	3	executing	execute	VERB
fsr-3924	185	4	the	the	DET
fsr-3924	185	5	strategy	strategy	NOUN
fsr-3924	185	6	,	,	PUNCT
fsr-3924	185	7	we	we	PRON
fsr-3924	185	8	also	also	ADV
fsr-3924	185	9	examined	examine	VERB
fsr-3924	185	10	the	the	DET
fsr-3924	185	11	number	number	NOUN
fsr-3924	185	12	of	of	ADP
fsr-3924	185	13	returns	return	NOUN
fsr-3924	185	14	in	in	ADP
fsr-3924	185	15	this	this	DET
fsr-3924	185	16	top	top	ADJ
fsr-3924	185	17	twenty	twenty	NUM
fsr-3924	185	18	percentage	percentage	NOUN
fsr-3924	185	19	category	category	NOUN
fsr-3924	185	20	and	and	CCONJ
fsr-3924	185	21	how	how	SCONJ
fsr-3924	185	22	frequently	frequently	ADV
fsr-3924	185	23	positive	positive	ADJ
fsr-3924	185	24	index	index	NOUN
fsr-3924	185	25	returns	return	NOUN
fsr-3924	185	26	were	be	AUX
fsr-3924	185	27	followed	follow	VERB
fsr-3924	185	28	by	by	ADP
fsr-3924	185	29	positive	positive	ADJ
fsr-3924	185	30	global	global	ADJ
fsr-3924	185	31	returns	return	NOUN
fsr-3924	185	32	.	.	PUNCT
fsr-3924	186	1	of	of	ADP
fsr-3924	186	2	the	the	DET
fsr-3924	186	3	series	series	NOUN
fsr-3924	186	4	of	of	ADP
fsr-3924	186	5	returns	return	NOUN
fsr-3924	186	6	,	,	PUNCT
fsr-3924	186	7	146	146	NUM
fsr-3924	186	8	were	be	AUX
fsr-3924	186	9	above	above	ADP
fsr-3924	186	10	the	the	DET
fsr-3924	186	11	selected	select	VERB
fsr-3924	186	12	trigger	trigger	NOUN
fsr-3924	186	13	point	point	NOUN
fsr-3924	186	14	.	.	PUNCT
fsr-3924	187	1	interestingly	interestingly	ADV
fsr-3924	187	2	,	,	PUNCT
fsr-3924	187	3	99	99	NUM
fsr-3924	187	4	of	of	ADP
fsr-3924	187	5	the	the	DET
fsr-3924	187	6	146	146	NUM
fsr-3924	187	7	large	large	ADJ
fsr-3924	187	8	positive	positive	ADJ
fsr-3924	187	9	index	index	NOUN
fsr-3924	187	10	returns	return	NOUN
fsr-3924	187	11	were	be	AUX
fsr-3924	187	12	followed	follow	VERB
fsr-3924	187	13	by	by	ADP
fsr-3924	187	14	positive	positive	ADJ
fsr-3924	187	15	global	global	ADJ
fsr-3924	187	16	returns	return	NOUN
fsr-3924	187	17	(	(	PUNCT
fsr-3924	187	18	68	68	NUM
fsr-3924	187	19	%	%	NOUN
fsr-3924	187	20	)	)	PUNCT
fsr-3924	187	21	.	.	PUNCT
fsr-3924	188	1	we	we	PRON
fsr-3924	188	2	also	also	ADV
fsr-3924	188	3	selected	select	VERB
fsr-3924	188	4	a	a	DET
fsr-3924	188	5	trigger	trigger	NOUN
fsr-3924	188	6	point	point	NOUN
fsr-3924	188	7	to	to	PART
fsr-3924	188	8	move	move	VERB
fsr-3924	188	9	back	back	ADV
fsr-3924	188	10	into	into	ADP
fsr-3924	188	11	index	index	NOUN
fsr-3924	188	12	based	base	VERB
fsr-3924	188	13	on	on	ADP
fsr-3924	188	14	negative	negative	ADJ
fsr-3924	188	15	index	index	NOUN
fsr-3924	188	16	return	return	NOUN
fsr-3924	188	17	.	.	PUNCT
fsr-3924	189	1	again	again	ADV
fsr-3924	189	2	,	,	PUNCT
fsr-3924	189	3	the	the	DET
fsr-3924	189	4	trigger	trigger	NOUN
fsr-3924	189	5	point	point	NOUN
fsr-3924	189	6	was	be	AUX
fsr-3924	189	7	a	a	DET
fsr-3924	189	8	bottom	bottom	ADJ
fsr-3924	189	9	twenty	twenty	NUM
fsr-3924	189	10	-	-	PUNCT
fsr-3924	189	11	percent	percent	NOUN
fsr-3924	189	12	return	return	NOUN
fsr-3924	189	13	(	(	PUNCT
fsr-3924	189	14	20.0068	20.0068	NUM
fsr-3924	189	15	)	)	PUNCT
fsr-3924	189	16	.	.	PUNCT
fsr-3924	190	1	this	this	DET
fsr-3924	190	2	type	type	NOUN
fsr-3924	190	3	of	of	ADP
fsr-3924	190	4	constrained	constrain	VERB
fsr-3924	190	5	trading	trading	NOUN
fsr-3924	190	6	should	should	AUX
fsr-3924	190	7	be	be	AUX
fsr-3924	190	8	useful	useful	ADJ
fsr-3924	190	9	in	in	ADP
fsr-3924	190	10	reducing	reduce	VERB
fsr-3924	190	11	the	the	DET
fsr-3924	190	12	number	number	NOUN
fsr-3924	190	13	of	of	ADP
fsr-3924	190	14	trades	trade	NOUN
fsr-3924	190	15	and	and	CCONJ
fsr-3924	190	16	avoiding	avoid	VERB
fsr-3924	190	17	large	large	ADJ
fsr-3924	190	18	negative	negative	ADJ
fsr-3924	190	19	returns	return	NOUN
fsr-3924	190	20	,	,	PUNCT
fsr-3924	190	21	while	while	SCONJ
fsr-3924	190	22	capitalizing	capitalize	VERB
fsr-3924	190	23	on	on	ADP
fsr-3924	190	24	expected	expect	VERB
fsr-3924	190	25	large	large	ADJ
fsr-3924	190	26	positive	positive	ADJ
fsr-3924	190	27	returns	return	NOUN
fsr-3924	190	28	.	.	PUNCT
fsr-3924	191	1	4.4	4.4	NUM
fsr-3924	191	2	.	.	PUNCT
fsr-3924	191	3	risk	risk	NOUN
fsr-3924	191	4	and	and	CCONJ
fsr-3924	191	5	return	return	NOUN
fsr-3924	191	6	of	of	ADP
fsr-3924	191	7	trading	trading	NOUN
fsr-3924	191	8	strategies	strategy	NOUN
fsr-3924	191	9	the	the	DET
fsr-3924	191	10	returns	return	NOUN
fsr-3924	191	11	,	,	PUNCT
fsr-3924	191	12	risks	risk	NOUN
fsr-3924	191	13	,	,	PUNCT
fsr-3924	191	14	and	and	CCONJ
fsr-3924	191	15	sharpe	sharpe	PROPN
fsr-3924	191	16	(	(	PUNCT
fsr-3924	191	17	1966	1966	NUM
fsr-3924	191	18	)	)	PUNCT
fsr-3924	191	19	measures	measure	NOUN
fsr-3924	191	20	for	for	ADP
fsr-3924	191	21	both	both	CCONJ
fsr-3924	191	22	buy	buy	VERB
fsr-3924	191	23	-	-	PUNCT
fsr-3924	191	24	and	and	CCONJ
fsr-3924	191	25	-	-	PUNCT
fsr-3924	191	26	hold	hold	VERB
fsr-3924	191	27	strategies	strategy	NOUN
fsr-3924	191	28	and	and	CCONJ
fsr-3924	191	29	the	the	DET
fsr-3924	191	30	proposed	propose	VERB
fsr-3924	191	31	trading	trading	NOUN
fsr-3924	191	32	rule	rule	NOUN
fsr-3924	191	33	are	be	AUX
fsr-3924	191	34	presented	present	VERB
fsr-3924	191	35	in	in	ADP
fsr-3924	191	36	table	table	NOUN
fsr-3924	191	37	4	4	NUM
fsr-3924	191	38	.	.	PUNCT
fsr-3924	192	1	the	the	DET
fsr-3924	192	2	sharpe	sharpe	PROPN
fsr-3924	192	3	measure	measure	NOUN
fsr-3924	192	4	(	(	PUNCT
fsr-3924	192	5	s	s	X
fsr-3924	192	6	)	)	PUNCT
fsr-3924	192	7	is	be	AUX
fsr-3924	192	8	computed	compute	VERB
fsr-3924	192	9	as	as	ADP
fsr-3924	192	10	s5	s5	PROPN
fsr-3924	192	11	[	[	X
fsr-3924	192	12	rp	rp	NOUN
fsr-3924	192	13	-	-	PUNCT
fsr-3924	192	14	rf]/sp	rf]/sp	PROPN
fsr-3924	192	15	.	.	PUNCT
fsr-3924	193	1	the	the	DET
fsr-3924	193	2	trading	trading	NOUN
fsr-3924	193	3	rule	rule	NOUN
fsr-3924	193	4	portfolio	portfolio	NOUN
fsr-3924	193	5	has	have	VERB
fsr-3924	193	6	the	the	DET
fsr-3924	193	7	highest	high	ADJ
fsr-3924	193	8	average	average	ADJ
fsr-3924	193	9	daily	daily	ADJ
fsr-3924	193	10	return	return	NOUN
fsr-3924	193	11	of	of	ADP
fsr-3924	193	12	any	any	PRON
fsr-3924	193	13	of	of	ADP
fsr-3924	193	14	the	the	DET
fsr-3924	193	15	portfolios	portfolio	NOUN
fsr-3924	193	16	(	(	PUNCT
fsr-3924	193	17	0.00142	0.00142	NUM
fsr-3924	193	18	)	)	PUNCT
fsr-3924	193	19	compared	compare	VERB
fsr-3924	193	20	to	to	ADP
fsr-3924	193	21	0.00086	0.00086	NUM
fsr-3924	193	22	for	for	ADP
fsr-3924	193	23	stock	stock	NOUN
fsr-3924	193	24	(	(	PUNCT
fsr-3924	193	25	lowest	low	ADJ
fsr-3924	193	26	equity	equity	NOUN
fsr-3924	193	27	return	return	NOUN
fsr-3924	193	28	)	)	PUNCT
fsr-3924	193	29	and	and	CCONJ
fsr-3924	193	30	0.00113	0.00113	NUM
fsr-3924	193	31	for	for	ADP
fsr-3924	193	32	table	table	NOUN
fsr-3924	193	33	3	3	NUM
fsr-3924	193	34	predictable	predictable	ADJ
fsr-3924	193	35	return	return	NOUN
fsr-3924	193	36	components	component	NOUN
fsr-3924	193	37	of	of	ADP
fsr-3924	193	38	selected	select	VERB
fsr-3924	193	39	trading	trading	NOUN
fsr-3924	193	40	strategy	strategy	NOUN
fsr-3924	193	41	index	index	NOUN
fsr-3924	193	42	leading	lead	VERB
fsr-3924	193	43	global	global	ADJ
fsr-3924	193	44	variable	variable	ADJ
fsr-3924	193	45	coefficient	coefficient	NOUN
fsr-3924	193	46	std	std	PROPN
fsr-3924	193	47	.	.	NOUN
fsr-3924	193	48	error	error	NOUN
fsr-3924	193	49	t	t	NOUN
fsr-3924	193	50	-	-	PUNCT
fsr-3924	193	51	statistic	statistic	NOUN
fsr-3924	193	52	prob	prob	NOUN
fsr-3924	193	53	.	.	PUNCT
fsr-3924	194	1	r2	r2	PROPN
fsr-3924	194	2	index(-1	index(-1	PROPN
fsr-3924	194	3	)	)	PUNCT
fsr-3924	194	4	0.302026	0.302026	NUM
fsr-3924	194	5	0.028150	0.028150	NUM
fsr-3924	195	1	10.72927	10.72927	NUM
fsr-3924	195	2	0.0000	0.0000	NUM
fsr-3924	195	3	0.1375	0.1375	NUM
fsr-3924	195	4	a	a	DET
fsr-3924	195	5	0.000286	0.000286	NUM
fsr-3924	195	6	0.000172	0.000172	NUM
fsr-3924	195	7	1.65577	1.65577	NUM
fsr-3924	195	8	0.0982	0.0982	NUM
fsr-3924	196	1	the	the	DET
fsr-3924	196	2	regression	regression	NOUN
fsr-3924	196	3	of	of	ADP
fsr-3924	196	4	global	global	ADJ
fsr-3924	196	5	returns	return	NOUN
fsr-3924	196	6	on	on	ADP
fsr-3924	196	7	the	the	DET
fsr-3924	196	8	one	one	NUM
fsr-3924	196	9	-	-	PUNCT
fsr-3924	196	10	day	day	NOUN
fsr-3924	196	11	lagged	lag	VERB
fsr-3924	196	12	predictor	predictor	NOUN
fsr-3924	196	13	variable	variable	NOUN
fsr-3924	196	14	(	(	PUNCT
fsr-3924	196	15	index	index	NOUN
fsr-3924	196	16	)	)	PUNCT
fsr-3924	196	17	is	be	AUX
fsr-3924	196	18	presented	present	VERB
fsr-3924	196	19	to	to	PART
fsr-3924	196	20	determine	determine	VERB
fsr-3924	196	21	the	the	DET
fsr-3924	196	22	magnitude	magnitude	NOUN
fsr-3924	196	23	of	of	ADP
fsr-3924	196	24	the	the	DET
fsr-3924	196	25	predictable	predictable	ADJ
fsr-3924	196	26	element	element	NOUN
fsr-3924	196	27	of	of	ADP
fsr-3924	196	28	returns	return	NOUN
fsr-3924	196	29	.	.	PUNCT
fsr-3924	197	1	columns	column	NOUN
fsr-3924	197	2	one	one	NUM
fsr-3924	197	3	through	through	ADP
fsr-3924	197	4	six	six	NUM
fsr-3924	197	5	present	present	ADJ
fsr-3924	197	6	the	the	DET
fsr-3924	197	7	variable	variable	ADJ
fsr-3924	197	8	,	,	PUNCT
fsr-3924	197	9	coefficient	coefficient	NOUN
fsr-3924	197	10	,	,	PUNCT
fsr-3924	197	11	standard	standard	ADJ
fsr-3924	197	12	error	error	NOUN
fsr-3924	197	13	,	,	PUNCT
fsr-3924	197	14	t	t	PROPN
fsr-3924	197	15	-	-	PUNCT
fsr-3924	197	16	statistic	statistic	NOUN
fsr-3924	197	17	,	,	PUNCT
fsr-3924	197	18	probability	probability	NOUN
fsr-3924	197	19	(	(	PUNCT
fsr-3924	197	20	p	p	NOUN
fsr-3924	197	21	-	-	PUNCT
fsr-3924	197	22	value	value	NOUN
fsr-3924	197	23	)	)	PUNCT
fsr-3924	197	24	,	,	PUNCT
fsr-3924	197	25	and	and	CCONJ
fsr-3924	197	26	coefficient	coefficient	NOUN
fsr-3924	197	27	of	of	ADP
fsr-3924	197	28	determination	determination	NOUN
fsr-3924	197	29	(	(	PUNCT
fsr-3924	197	30	r2	r2	PROPN
fsr-3924	197	31	)	)	PUNCT
fsr-3924	197	32	of	of	ADP
fsr-3924	197	33	the	the	DET
fsr-3924	197	34	regressions	regression	NOUN
fsr-3924	197	35	,	,	PUNCT
fsr-3924	197	36	respectively	respectively	ADV
fsr-3924	197	37	.	.	PUNCT
fsr-3924	198	1	227e.m	227e.m	NUM
fsr-3924	198	2	.	.	PUNCT
fsr-3924	199	1	miller	miller	PROPN
fsr-3924	199	2	,	,	PUNCT
fsr-3924	199	3	l.j	l.j	PROPN
fsr-3924	199	4	.	.	PROPN
fsr-3924	199	5	prather	prather	PROPN
fsr-3924	199	6	/	/	SYM
fsr-3924	199	7	financial	financial	ADJ
fsr-3924	199	8	services	service	NOUN
fsr-3924	199	9	review	review	VERB
fsr-3924	199	10	9	9	NUM
fsr-3924	199	11	(	(	PUNCT
fsr-3924	199	12	2000	2000	NUM
fsr-3924	199	13	)	)	PUNCT
fsr-3924	199	14	219–230	219–230	NUM
fsr-3924	199	15	growth	growth	NOUN
fsr-3924	199	16	(	(	PUNCT
fsr-3924	199	17	highest	high	ADJ
fsr-3924	199	18	equity	equity	NOUN
fsr-3924	199	19	return	return	NOUN
fsr-3924	199	20	)	)	PUNCT
fsr-3924	199	21	.	.	PUNCT
fsr-3924	200	1	it	it	PRON
fsr-3924	200	2	also	also	ADV
fsr-3924	200	3	has	have	VERB
fsr-3924	200	4	a	a	DET
fsr-3924	200	5	lower	low	ADJ
fsr-3924	200	6	total	total	ADJ
fsr-3924	200	7	risk	risk	NOUN
fsr-3924	200	8	,	,	PUNCT
fsr-3924	200	9	as	as	SCONJ
fsr-3924	200	10	measured	measure	VERB
fsr-3924	200	11	by	by	ADP
fsr-3924	200	12	standard	standard	ADJ
fsr-3924	200	13	deviation	deviation	NOUN
fsr-3924	200	14	(	(	PUNCT
fsr-3924	200	15	0.01062	0.01062	NUM
fsr-3924	200	16	)	)	PUNCT
fsr-3924	200	17	,	,	PUNCT
fsr-3924	200	18	than	than	ADP
fsr-3924	200	19	either	either	CCONJ
fsr-3924	200	20	the	the	DET
fsr-3924	200	21	index	index	NOUN
fsr-3924	200	22	(	(	PUNCT
fsr-3924	200	23	0.01132	0.01132	NUM
fsr-3924	200	24	)	)	PUNCT
fsr-3924	200	25	or	or	CCONJ
fsr-3924	200	26	the	the	DET
fsr-3924	200	27	growth	growth	NOUN
fsr-3924	200	28	portfolios	portfolio	NOUN
fsr-3924	200	29	(	(	PUNCT
fsr-3924	200	30	0.01298	0.01298	NUM
fsr-3924	200	31	)	)	PUNCT
fsr-3924	200	32	.	.	PUNCT
fsr-3924	201	1	this	this	DET
fsr-3924	201	2	characteristic	characteristic	ADJ
fsr-3924	201	3	leads	lead	VERB
fsr-3924	201	4	to	to	ADP
fsr-3924	201	5	the	the	DET
fsr-3924	201	6	sharpe	sharpe	NOUN
fsr-3924	201	7	measure	measure	NOUN
fsr-3924	201	8	of	of	ADP
fsr-3924	201	9	the	the	DET
fsr-3924	201	10	trading	trading	NOUN
fsr-3924	201	11	rule	rule	NOUN
fsr-3924	201	12	portfolio	portfolio	NOUN
fsr-3924	201	13	(	(	PUNCT
fsr-3924	201	14	0.11488	0.11488	NUM
fsr-3924	201	15	)	)	PUNCT
fsr-3924	201	16	being	be	AUX
fsr-3924	201	17	higher	high	ADJ
fsr-3924	201	18	than	than	ADP
fsr-3924	201	19	any	any	DET
fsr-3924	201	20	buy	buy	VERB
fsr-3924	201	21	-	-	PUNCT
fsr-3924	201	22	and	and	CCONJ
fsr-3924	201	23	-	-	PUNCT
fsr-3924	201	24	hold	hold	VERB
fsr-3924	201	25	strategy	strategy	NOUN
fsr-3924	201	26	.	.	PUNCT
fsr-3924	202	1	none	none	NOUN
fsr-3924	202	2	of	of	ADP
fsr-3924	202	3	these	these	DET
fsr-3924	202	4	outcomes	outcome	NOUN
fsr-3924	202	5	are	be	AUX
fsr-3924	202	6	surprising	surprising	ADJ
fsr-3924	202	7	given	give	VERB
fsr-3924	202	8	the	the	DET
fsr-3924	202	9	strong	strong	ADJ
fsr-3924	202	10	granger	granger	PROPN
fsr-3924	202	11	relationship	relationship	NOUN
fsr-3924	202	12	.	.	PUNCT
fsr-3924	203	1	trading	trading	NOUN
fsr-3924	203	2	on	on	ADP
fsr-3924	203	3	granger	granger	PROPN
fsr-3924	203	4	relationships	relationship	NOUN
fsr-3924	203	5	has	have	AUX
fsr-3924	203	6	increased	increase	VERB
fsr-3924	203	7	the	the	DET
fsr-3924	203	8	probability	probability	NOUN
fsr-3924	203	9	of	of	ADP
fsr-3924	203	10	obtaining	obtain	VERB
fsr-3924	203	11	a	a	DET
fsr-3924	203	12	positive	positive	ADJ
fsr-3924	203	13	return	return	NOUN
fsr-3924	203	14	in	in	ADP
fsr-3924	203	15	the	the	DET
fsr-3924	203	16	period	period	NOUN
fsr-3924	203	17	following	follow	VERB
fsr-3924	203	18	a	a	DET
fsr-3924	203	19	positive	positive	ADJ
fsr-3924	203	20	return	return	NOUN
fsr-3924	203	21	in	in	ADP
fsr-3924	203	22	the	the	DET
fsr-3924	203	23	index	index	NOUN
fsr-3924	203	24	and	and	CCONJ
fsr-3924	203	25	reduced	reduce	VERB
fsr-3924	203	26	the	the	DET
fsr-3924	203	27	probability	probability	NOUN
fsr-3924	203	28	of	of	ADP
fsr-3924	203	29	receiving	receive	VERB
fsr-3924	203	30	a	a	DET
fsr-3924	203	31	large	large	ADJ
fsr-3924	203	32	negative	negative	ADJ
fsr-3924	203	33	return	return	NOUN
fsr-3924	203	34	in	in	ADP
fsr-3924	203	35	global	global	ADJ
fsr-3924	203	36	.	.	PUNCT
fsr-3924	204	1	this	this	PRON
fsr-3924	204	2	tends	tend	VERB
fsr-3924	204	3	to	to	PART
fsr-3924	204	4	increase	increase	VERB
fsr-3924	204	5	average	average	ADJ
fsr-3924	204	6	returns	return	NOUN
fsr-3924	204	7	and	and	CCONJ
fsr-3924	204	8	to	to	PART
fsr-3924	204	9	reduce	reduce	VERB
fsr-3924	204	10	variability	variability	NOUN
fsr-3924	204	11	of	of	ADP
fsr-3924	204	12	returns	return	NOUN
fsr-3924	204	13	(	(	PUNCT
fsr-3924	204	14	risk	risk	NOUN
fsr-3924	204	15	)	)	PUNCT
fsr-3924	204	16	,	,	PUNCT
fsr-3924	204	17	which	which	PRON
fsr-3924	204	18	leads	lead	VERB
fsr-3924	204	19	directly	directly	ADV
fsr-3924	204	20	to	to	ADP
fsr-3924	204	21	the	the	DET
fsr-3924	204	22	higher	high	ADJ
fsr-3924	204	23	sharpe	sharpe	NOUN
fsr-3924	204	24	measure	measure	NOUN
fsr-3924	204	25	.	.	PUNCT
fsr-3924	205	1	as	as	ADP
fsr-3924	205	2	a	a	DET
fsr-3924	205	3	test	test	NOUN
fsr-3924	205	4	of	of	ADP
fsr-3924	205	5	robustness	robustness	NOUN
fsr-3924	205	6	,	,	PUNCT
fsr-3924	205	7	the	the	DET
fsr-3924	205	8	jensen	jensen	PROPN
fsr-3924	205	9	(	(	PUNCT
fsr-3924	205	10	1968	1968	NUM
fsr-3924	205	11	)	)	PUNCT
fsr-3924	205	12	measure	measure	NOUN
fsr-3924	205	13	of	of	ADP
fsr-3924	205	14	risk	risk	NOUN
fsr-3924	205	15	-	-	PUNCT
fsr-3924	205	16	adjusted	adjust	VERB
fsr-3924	205	17	returns	return	NOUN
fsr-3924	205	18	was	be	AUX
fsr-3924	205	19	computed	compute	VERB
fsr-3924	205	20	to	to	PART
fsr-3924	205	21	determine	determine	VERB
fsr-3924	205	22	whether	whether	SCONJ
fsr-3924	205	23	the	the	DET
fsr-3924	205	24	positive	positive	ADJ
fsr-3924	205	25	risk	risk	NOUN
fsr-3924	205	26	-	-	PUNCT
fsr-3924	205	27	adjusted	adjust	VERB
fsr-3924	205	28	returns	return	NOUN
fsr-3924	205	29	were	be	AUX
fsr-3924	205	30	statistically	statistically	ADV
fsr-3924	205	31	significant	significant	ADJ
fsr-3924	205	32	.	.	PUNCT
fsr-3924	206	1	the	the	DET
fsr-3924	206	2	jensen	jensen	PROPN
fsr-3924	206	3	measure	measure	NOUN
fsr-3924	206	4	is	be	AUX
fsr-3924	206	5	computed	compute	VERB
fsr-3924	206	6	as	as	ADP
fsr-3924	206	7	rp	rp	NOUN
fsr-3924	206	8	-	-	PUNCT
fsr-3924	206	9	rf	rf	PRON
fsr-3924	206	10	5	5	NUM
fsr-3924	206	11	a	a	DET
fsr-3924	206	12	1	1	NUM
fsr-3924	206	13	bp	bp	NOUN
fsr-3924	206	14	(	(	PUNCT
fsr-3924	206	15	rm	rm	PROPN
fsr-3924	206	16	2	2	NUM
fsr-3924	206	17	rf	rf	NOUN
fsr-3924	206	18	)	)	PUNCT
fsr-3924	206	19	1	1	NUM
fsr-3924	206	20	e.	e.	PROPN
fsr-3924	206	21	for	for	ADP
fsr-3924	206	22	our	our	PRON
fsr-3924	206	23	purposes	purpose	NOUN
fsr-3924	206	24	,	,	PUNCT
fsr-3924	206	25	the	the	DET
fsr-3924	206	26	ordinary	ordinary	ADJ
fsr-3924	206	27	least	least	ADJ
fsr-3924	206	28	squares	square	NOUN
fsr-3924	206	29	regression	regression	NOUN
fsr-3924	206	30	uses	use	VERB
fsr-3924	206	31	the	the	DET
fsr-3924	206	32	cref	cref	NOUN
fsr-3924	206	33	money	money	NOUN
fsr-3924	206	34	market	market	NOUN
fsr-3924	206	35	returns	return	NOUN
fsr-3924	206	36	as	as	ADP
fsr-3924	206	37	the	the	DET
fsr-3924	206	38	risk	risk	NOUN
fsr-3924	206	39	-	-	PUNCT
fsr-3924	206	40	free	free	ADJ
fsr-3924	206	41	proxy	proxy	NOUN
fsr-3924	206	42	and	and	CCONJ
fsr-3924	206	43	the	the	DET
fsr-3924	206	44	cref	cref	NOUN
fsr-3924	206	45	index	index	NOUN
fsr-3924	206	46	returns	return	NOUN
fsr-3924	206	47	as	as	ADP
fsr-3924	206	48	the	the	DET
fsr-3924	206	49	market	market	NOUN
fsr-3924	206	50	proxy	proxy	NOUN
fsr-3924	206	51	.	.	PUNCT
fsr-3924	207	1	this	this	DET
fsr-3924	207	2	approach	approach	NOUN
fsr-3924	207	3	was	be	AUX
fsr-3924	207	4	selected	select	VERB
fsr-3924	207	5	since	since	SCONJ
fsr-3924	207	6	tiaa/	tiaa/	NUM
fsr-3924	207	7	cref	cref	NOUN
fsr-3924	207	8	investors	investor	NOUN
fsr-3924	207	9	can	can	AUX
fsr-3924	207	10	form	form	VERB
fsr-3924	207	11	a	a	DET
fsr-3924	207	12	portfolio	portfolio	NOUN
fsr-3924	207	13	using	use	VERB
fsr-3924	207	14	these	these	DET
fsr-3924	207	15	asset	asset	NOUN
fsr-3924	207	16	classes	class	NOUN
fsr-3924	207	17	to	to	PART
fsr-3924	207	18	achieve	achieve	VERB
fsr-3924	207	19	their	their	PRON
fsr-3924	207	20	desired	desire	VERB
fsr-3924	207	21	level	level	NOUN
fsr-3924	207	22	of	of	ADP
fsr-3924	207	23	systematic	systematic	ADJ
fsr-3924	207	24	risk	risk	NOUN
fsr-3924	207	25	.	.	PUNCT
fsr-3924	208	1	this	this	PRON
fsr-3924	208	2	is	be	AUX
fsr-3924	208	3	a	a	DET
fsr-3924	208	4	realistic	realistic	ADJ
fsr-3924	208	5	approach	approach	NOUN
fsr-3924	208	6	since	since	SCONJ
fsr-3924	208	7	it	it	PRON
fsr-3924	208	8	represents	represent	VERB
fsr-3924	208	9	actual	actual	ADJ
fsr-3924	208	10	returns	return	NOUN
fsr-3924	208	11	investors	investor	NOUN
fsr-3924	208	12	could	could	AUX
fsr-3924	208	13	achieve	achieve	VERB
fsr-3924	208	14	after	after	ADP
fsr-3924	208	15	costs	cost	NOUN
fsr-3924	208	16	.	.	PUNCT
fsr-3924	209	1	table	table	NOUN
fsr-3924	209	2	5	5	NUM
fsr-3924	209	3	shows	show	VERB
fsr-3924	209	4	that	that	SCONJ
fsr-3924	209	5	the	the	DET
fsr-3924	209	6	model	model	NOUN
fsr-3924	209	7	fit	fit	NOUN
fsr-3924	209	8	is	be	AUX
fsr-3924	209	9	good	good	ADJ
fsr-3924	209	10	since	since	SCONJ
fsr-3924	209	11	more	more	ADJ
fsr-3924	209	12	than	than	ADP
fsr-3924	209	13	88	88	NUM
fsr-3924	209	14	%	%	NOUN
fsr-3924	209	15	of	of	ADP
fsr-3924	209	16	the	the	DET
fsr-3924	209	17	trading	trading	NOUN
fsr-3924	209	18	rule	rule	NOUN
fsr-3924	209	19	returns	return	NOUN
fsr-3924	209	20	are	be	AUX
fsr-3924	209	21	explained	explain	VERB
fsr-3924	209	22	by	by	ADP
fsr-3924	209	23	the	the	DET
fsr-3924	209	24	model	model	NOUN
fsr-3924	209	25	.	.	PUNCT
fsr-3924	210	1	this	this	PRON
fsr-3924	210	2	is	be	AUX
fsr-3924	210	3	comforting	comforting	ADJ
fsr-3924	210	4	since	since	SCONJ
fsr-3924	210	5	brown	brown	ADJ
fsr-3924	210	6	and	and	CCONJ
fsr-3924	210	7	brown	brown	ADJ
fsr-3924	210	8	(	(	PUNCT
fsr-3924	210	9	1987	1987	NUM
fsr-3924	210	10	)	)	PUNCT
fsr-3924	210	11	and	and	CCONJ
fsr-3924	210	12	lehmann	lehmann	PROPN
fsr-3924	210	13	and	and	CCONJ
fsr-3924	210	14	modest	modest	ADJ
fsr-3924	210	15	(	(	PUNCT
fsr-3924	210	16	1987	1987	NUM
fsr-3924	210	17	)	)	PUNCT
fsr-3924	210	18	find	find	VERB
fsr-3924	210	19	that	that	SCONJ
fsr-3924	210	20	the	the	DET
fsr-3924	210	21	market	market	NOUN
fsr-3924	210	22	proxy	proxy	NOUN
fsr-3924	210	23	is	be	AUX
fsr-3924	210	24	important	important	ADJ
fsr-3924	210	25	when	when	SCONJ
fsr-3924	210	26	attempting	attempt	VERB
fsr-3924	210	27	to	to	PART
fsr-3924	210	28	determine	determine	VERB
fsr-3924	210	29	true	true	ADJ
fsr-3924	210	30	performance	performance	NOUN
fsr-3924	210	31	.	.	PUNCT
fsr-3924	211	1	risk	risk	NOUN
fsr-3924	211	2	-	-	PUNCT
fsr-3924	211	3	adjusted	adjust	VERB
fsr-3924	211	4	returns	return	NOUN
fsr-3924	211	5	of	of	ADP
fsr-3924	211	6	the	the	DET
fsr-3924	211	7	trading	trading	NOUN
fsr-3924	211	8	rule	rule	NOUN
fsr-3924	211	9	are	be	AUX
fsr-3924	211	10	positive	positive	ADJ
fsr-3924	211	11	and	and	CCONJ
fsr-3924	211	12	statistically	statistically	ADV
fsr-3924	211	13	significant	significant	ADJ
fsr-3924	211	14	at	at	ADP
fsr-3924	211	15	better	well	ADJ
fsr-3924	211	16	than	than	ADP
fsr-3924	211	17	the	the	DET
fsr-3924	211	18	one	one	NUM
fsr-3924	211	19	-	-	PUNCT
fsr-3924	211	20	percent	percent	NOUN
fsr-3924	211	21	level	level	NOUN
fsr-3924	211	22	.	.	PUNCT
fsr-3924	212	1	additionally	additionally	ADV
fsr-3924	212	2	,	,	PUNCT
fsr-3924	212	3	systematic	systematic	ADJ
fsr-3924	212	4	risk	risk	NOUN
fsr-3924	212	5	of	of	ADP
fsr-3924	212	6	the	the	DET
fsr-3924	212	7	trading	trading	NOUN
fsr-3924	212	8	rule	rule	NOUN
fsr-3924	212	9	(	(	PUNCT
fsr-3924	212	10	b	b	NOUN
fsr-3924	212	11	5	5	NUM
fsr-3924	212	12	0.88	0.88	NUM
fsr-3924	212	13	)	)	PUNCT
fsr-3924	212	14	is	be	AUX
fsr-3924	212	15	less	less	ADJ
fsr-3924	212	16	than	than	ADP
fsr-3924	212	17	that	that	PRON
fsr-3924	212	18	of	of	ADP
fsr-3924	212	19	the	the	DET
fsr-3924	212	20	index	index	NOUN
fsr-3924	212	21	.	.	PUNCT
fsr-3924	213	1	table	table	NOUN
fsr-3924	213	2	4	4	NUM
fsr-3924	213	3	risk	risk	NOUN
fsr-3924	213	4	and	and	CCONJ
fsr-3924	213	5	return	return	NOUN
fsr-3924	213	6	of	of	ADP
fsr-3924	213	7	sample	sample	NOUN
fsr-3924	213	8	portfolios	portfolio	NOUN
fsr-3924	213	9	asset	asset	NOUN
fsr-3924	213	10	class	class	NOUN
fsr-3924	213	11	return	return	NOUN
fsr-3924	213	12	std	std	PROPN
fsr-3924	213	13	.	.	PUNCT
fsr-3924	214	1	dev	dev	PROPN
fsr-3924	214	2	.	.	PUNCT
fsr-3924	215	1	sharpe	sharpe	PROPN
fsr-3924	215	2	stk	stk	PROPN
fsr-3924	215	3	0.00086	0.00086	NUM
fsr-3924	216	1	0.01015	0.01015	NUM
fsr-3924	216	2	0.06535	0.06535	NUM
fsr-3924	216	3	bond	bond	NOUN
fsr-3924	216	4	0.00022	0.00022	NUM
fsr-3924	216	5	0.00230	0.00230	NUM
fsr-3924	216	6	0.00732	0.00732	NUM
fsr-3924	216	7	glob	glob	NOUN
fsr-3924	216	8	0.00091	0.00091	NUM
fsr-3924	216	9	0.00921	0.00921	NUM
fsr-3924	216	10	0.07639	0.07639	NUM
fsr-3924	216	11	gro	gro	NOUN
fsr-3924	217	1	0.00113	0.00113	NUM
fsr-3924	217	2	0.01298	0.01298	NUM
fsr-3924	217	3	0.07188	0.07188	NUM
fsr-3924	217	4	indx	indx	PROPN
fsr-3924	217	5	0.00092	0.00092	NUM
fsr-3924	217	6	0.01132	0.01132	NUM
fsr-3924	217	7	0.06346	0.06346	NUM
fsr-3924	217	8	rule	rule	NOUN
fsr-3924	217	9	0.00142	0.00142	NUM
fsr-3924	217	10	0.01062	0.01062	NUM
fsr-3924	217	11	0.11488	0.11488	NUM
fsr-3924	217	12	column	column	NOUN
fsr-3924	217	13	one	one	NOUN
fsr-3924	217	14	is	be	AUX
fsr-3924	217	15	the	the	DET
fsr-3924	217	16	asset	asset	NOUN
fsr-3924	217	17	class	class	NOUN
fsr-3924	217	18	,	,	PUNCT
fsr-3924	217	19	columns	column	NOUN
fsr-3924	217	20	two	two	NUM
fsr-3924	217	21	and	and	CCONJ
fsr-3924	217	22	three	three	NUM
fsr-3924	217	23	are	be	AUX
fsr-3924	217	24	the	the	DET
fsr-3924	217	25	average	average	ADJ
fsr-3924	217	26	arithmetic	arithmetic	ADJ
fsr-3924	217	27	return	return	NOUN
fsr-3924	217	28	and	and	CCONJ
fsr-3924	217	29	standard	standard	ADJ
fsr-3924	217	30	deviation	deviation	NOUN
fsr-3924	217	31	of	of	ADP
fsr-3924	217	32	returns	return	NOUN
fsr-3924	217	33	.	.	PUNCT
fsr-3924	218	1	column	column	NOUN
fsr-3924	218	2	four	four	NUM
fsr-3924	218	3	provides	provide	VERB
fsr-3924	218	4	the	the	DET
fsr-3924	218	5	sharpe	sharpe	NOUN
fsr-3924	218	6	measure	measure	NOUN
fsr-3924	218	7	.	.	PUNCT
fsr-3924	219	1	table	table	NOUN
fsr-3924	219	2	5	5	NUM
fsr-3924	219	3	risk	risk	NOUN
fsr-3924	219	4	-	-	PUNCT
fsr-3924	219	5	adjusted	adjust	VERB
fsr-3924	219	6	return	return	NOUN
fsr-3924	219	7	of	of	ADP
fsr-3924	219	8	trading	trading	NOUN
fsr-3924	219	9	rule	rule	NOUN
fsr-3924	219	10	a	a	DET
fsr-3924	219	11	t	t	NOUN
fsr-3924	219	12	-	-	PUNCT
fsr-3924	219	13	statistic	statistic	NOUN
fsr-3924	219	14	p	p	NOUN
fsr-3924	219	15	-	-	PUNCT
fsr-3924	219	16	value	value	NOUN
fsr-3924	219	17	b	b	PROPN
fsr-3924	219	18	r2	r2	PROPN
fsr-3924	219	19	n	n	PROPN
fsr-3924	219	20	0.00059	0.00059	NUM
fsr-3924	219	21	4.40436	4.40436	NUM
fsr-3924	219	22	0.00001	0.00001	NUM
fsr-3924	219	23	0.88287	0.88287	NUM
fsr-3924	219	24	0.88637	0.88637	NUM
fsr-3924	219	25	728	728	NUM
fsr-3924	219	26	(	(	PUNCT
fsr-3924	219	27	.00013	.00013	PROPN
fsr-3924	219	28	)	)	PUNCT
fsr-3924	219	29	(	(	PUNCT
fsr-3924	219	30	0.01173	0.01173	NUM
fsr-3924	219	31	)	)	PUNCT
fsr-3924	219	32	the	the	DET
fsr-3924	219	33	results	result	NOUN
fsr-3924	219	34	of	of	ADP
fsr-3924	219	35	the	the	DET
fsr-3924	219	36	market	market	NOUN
fsr-3924	219	37	model	model	NOUN
fsr-3924	219	38	regression	regression	NOUN
fsr-3924	219	39	are	be	AUX
fsr-3924	219	40	presented	present	VERB
fsr-3924	219	41	.	.	PUNCT
fsr-3924	220	1	columns	column	NOUN
fsr-3924	220	2	one	one	NUM
fsr-3924	220	3	through	through	ADP
fsr-3924	220	4	three	three	NUM
fsr-3924	220	5	present	present	ADJ
fsr-3924	220	6	the	the	DET
fsr-3924	220	7	risk	risk	NOUN
fsr-3924	220	8	-	-	PUNCT
fsr-3924	220	9	adjusted	adjust	VERB
fsr-3924	220	10	return	return	NOUN
fsr-3924	220	11	(	(	PUNCT
fsr-3924	220	12	a	a	X
fsr-3924	220	13	)	)	PUNCT
fsr-3924	220	14	,	,	PUNCT
fsr-3924	220	15	the	the	DET
fsr-3924	220	16	t	t	NOUN
fsr-3924	220	17	-	-	PUNCT
fsr-3924	220	18	statistic	statistic	NOUN
fsr-3924	220	19	,	,	PUNCT
fsr-3924	220	20	and	and	CCONJ
fsr-3924	220	21	p	p	X
fsr-3924	220	22	-	-	PUNCT
fsr-3924	220	23	value	value	NOUN
fsr-3924	220	24	for	for	ADP
fsr-3924	220	25	the	the	DET
fsr-3924	220	26	two	two	NUM
fsr-3924	220	27	-	-	PUNCT
fsr-3924	220	28	tailed	tail	VERB
fsr-3924	220	29	hypothesis	hypothesis	NOUN
fsr-3924	220	30	test	test	NOUN
fsr-3924	220	31	that	that	PRON
fsr-3924	220	32	risk	risk	NOUN
fsr-3924	220	33	-	-	PUNCT
fsr-3924	220	34	adjusted	adjust	VERB
fsr-3924	220	35	return	return	NOUN
fsr-3924	220	36	equals	equal	VERB
fsr-3924	220	37	zero	zero	NUM
fsr-3924	220	38	.	.	PUNCT
fsr-3924	221	1	columns	column	NOUN
fsr-3924	221	2	four	four	NUM
fsr-3924	221	3	through	through	ADP
fsr-3924	221	4	six	six	NUM
fsr-3924	221	5	present	present	ADJ
fsr-3924	221	6	the	the	DET
fsr-3924	221	7	systematic	systematic	ADJ
fsr-3924	221	8	risk	risk	NOUN
fsr-3924	221	9	(	(	PUNCT
fsr-3924	221	10	b	b	NOUN
fsr-3924	221	11	)	)	PUNCT
fsr-3924	221	12	,	,	PUNCT
fsr-3924	221	13	coefficient	coefficient	NOUN
fsr-3924	221	14	of	of	ADP
fsr-3924	221	15	determination	determination	NOUN
fsr-3924	221	16	(	(	PUNCT
fsr-3924	221	17	r2	r2	PROPN
fsr-3924	221	18	)	)	PUNCT
fsr-3924	221	19	,	,	PUNCT
fsr-3924	221	20	and	and	CCONJ
fsr-3924	221	21	number	number	NOUN
fsr-3924	221	22	of	of	ADP
fsr-3924	221	23	observations	observation	NOUN
fsr-3924	221	24	(	(	PUNCT
fsr-3924	221	25	n	n	CCONJ
fsr-3924	221	26	)	)	PUNCT
fsr-3924	221	27	.	.	PUNCT
fsr-3924	222	1	standard	standard	ADJ
fsr-3924	222	2	errors	error	NOUN
fsr-3924	222	3	are	be	AUX
fsr-3924	222	4	in	in	ADP
fsr-3924	222	5	parenthesis	parenthesis	NOUN
fsr-3924	222	6	below	below	ADP
fsr-3924	222	7	the	the	DET
fsr-3924	222	8	coefficient	coefficient	NOUN
fsr-3924	222	9	estimates	estimate	NOUN
fsr-3924	222	10	.	.	PUNCT
fsr-3924	223	1	228	228	NUM
fsr-3924	223	2	e.m	e.m	PROPN
fsr-3924	223	3	.	.	PROPN
fsr-3924	223	4	miller	miller	PROPN
fsr-3924	223	5	,	,	PUNCT
fsr-3924	223	6	l.j	l.j	PROPN
fsr-3924	223	7	.	.	PROPN
fsr-3924	223	8	prather	prather	PROPN
fsr-3924	223	9	/	/	SYM
fsr-3924	223	10	financial	financial	ADJ
fsr-3924	223	11	services	service	NOUN
fsr-3924	223	12	review	review	VERB
fsr-3924	223	13	9	9	NUM
fsr-3924	223	14	(	(	PUNCT
fsr-3924	223	15	2000	2000	NUM
fsr-3924	223	16	)	)	PUNCT
fsr-3924	224	1	219–230	219–230	NUM
fsr-3924	224	2	given	give	VERB
fsr-3924	224	3	the	the	DET
fsr-3924	224	4	superior	superior	ADJ
fsr-3924	224	5	sharpe	sharpe	PROPN
fsr-3924	224	6	and	and	CCONJ
fsr-3924	224	7	jensen	jensen	PROPN
fsr-3924	224	8	performance	performance	NOUN
fsr-3924	224	9	measures	measure	NOUN
fsr-3924	224	10	for	for	ADP
fsr-3924	224	11	the	the	DET
fsr-3924	224	12	trading	trading	NOUN
fsr-3924	224	13	strategy	strategy	NOUN
fsr-3924	224	14	,	,	PUNCT
fsr-3924	224	15	it	it	PRON
fsr-3924	224	16	appears	appear	VERB
fsr-3924	224	17	that	that	SCONJ
fsr-3924	224	18	informed	informed	ADJ
fsr-3924	224	19	investors	investor	NOUN
fsr-3924	224	20	were	be	AUX
fsr-3924	224	21	able	able	ADJ
fsr-3924	224	22	to	to	PART
fsr-3924	224	23	exploit	exploit	VERB
fsr-3924	224	24	asset	asset	NOUN
fsr-3924	224	25	class	class	NOUN
fsr-3924	224	26	return	return	NOUN
fsr-3924	224	27	predictabilities	predictability	NOUN
fsr-3924	224	28	in	in	ADP
fsr-3924	224	29	tiaa	tiaa	ADJ
fsr-3924	224	30	/	/	SYM
fsr-3924	224	31	cref	cref	NOUN
fsr-3924	224	32	family	family	NOUN
fsr-3924	224	33	retirement	retirement	NOUN
fsr-3924	224	34	annuities	annuity	NOUN
fsr-3924	224	35	.	.	PUNCT
fsr-3924	225	1	to	to	PART
fsr-3924	225	2	achieve	achieve	VERB
fsr-3924	225	3	this	this	DET
fsr-3924	225	4	result	result	NOUN
fsr-3924	225	5	,	,	PUNCT
fsr-3924	225	6	139	139	NUM
fsr-3924	225	7	trades	trade	NOUN
fsr-3924	225	8	were	be	AUX
fsr-3924	225	9	conducted	conduct	VERB
fsr-3924	225	10	over	over	ADP
fsr-3924	225	11	728	728	NUM
fsr-3924	225	12	trading	trading	NOUN
fsr-3924	225	13	days	day	NOUN
fsr-3924	225	14	for	for	ADP
fsr-3924	225	15	an	an	DET
fsr-3924	225	16	average	average	ADJ
fsr-3924	225	17	trading	trading	NOUN
fsr-3924	225	18	frequency	frequency	NOUN
fsr-3924	225	19	of	of	ADP
fsr-3924	225	20	approximately	approximately	ADV
fsr-3924	225	21	3.8	3.8	NUM
fsr-3924	225	22	trades	trade	NOUN
fsr-3924	225	23	per	per	ADP
fsr-3924	225	24	month	month	NOUN
fsr-3924	225	25	.	.	PUNCT
fsr-3924	226	1	given	give	VERB
fsr-3924	226	2	the	the	DET
fsr-3924	226	3	current	current	ADJ
fsr-3924	226	4	restrictions	restriction	NOUN
fsr-3924	226	5	that	that	PRON
fsr-3924	226	6	limit	limit	VERB
fsr-3924	226	7	trading	trade	VERB
fsr-3924	226	8	out	out	ADP
fsr-3924	226	9	of	of	ADP
fsr-3924	226	10	a	a	DET
fsr-3924	226	11	given	give	VERB
fsr-3924	226	12	annuity	annuity	NOUN
fsr-3924	226	13	to	to	ADP
fsr-3924	226	14	three	three	NUM
fsr-3924	226	15	trades	trade	NOUN
fsr-3924	226	16	per	per	ADP
fsr-3924	226	17	month	month	NOUN
fsr-3924	226	18	,	,	PUNCT
fsr-3924	226	19	it	it	PRON
fsr-3924	226	20	is	be	AUX
fsr-3924	226	21	important	important	ADJ
fsr-3924	226	22	to	to	PART
fsr-3924	226	23	determine	determine	VERB
fsr-3924	226	24	if	if	SCONJ
fsr-3924	226	25	this	this	DET
fsr-3924	226	26	constraint	constraint	NOUN
fsr-3924	226	27	had	have	AUX
fsr-3924	226	28	been	be	AUX
fsr-3924	226	29	violated	violate	VERB
fsr-3924	226	30	by	by	ADP
fsr-3924	226	31	our	our	PRON
fsr-3924	226	32	trading	trading	NOUN
fsr-3924	226	33	rule	rule	NOUN
fsr-3924	226	34	.	.	PUNCT
fsr-3924	227	1	examination	examination	NOUN
fsr-3924	227	2	of	of	ADP
fsr-3924	227	3	the	the	DET
fsr-3924	227	4	trading	trading	NOUN
fsr-3924	227	5	pattern	pattern	NOUN
fsr-3924	227	6	reveals	reveal	VERB
fsr-3924	227	7	that	that	SCONJ
fsr-3924	227	8	in	in	ADP
fsr-3924	227	9	seven	seven	NUM
fsr-3924	227	10	of	of	ADP
fsr-3924	227	11	the	the	DET
fsr-3924	227	12	34	34	NUM
fsr-3924	227	13	months	month	NOUN
fsr-3924	227	14	the	the	DET
fsr-3924	227	15	trading	trading	NOUN
fsr-3924	227	16	limit	limit	NOUN
fsr-3924	227	17	would	would	AUX
fsr-3924	227	18	have	have	AUX
fsr-3924	227	19	been	be	AUX
fsr-3924	227	20	reached	reach	VERB
fsr-3924	227	21	in	in	ADP
fsr-3924	227	22	at	at	ADV
fsr-3924	227	23	least	least	ADJ
fsr-3924	227	24	one	one	NUM
fsr-3924	227	25	of	of	ADP
fsr-3924	227	26	the	the	DET
fsr-3924	227	27	annuities	annuity	NOUN
fsr-3924	227	28	and	and	CCONJ
fsr-3924	227	29	that	that	SCONJ
fsr-3924	227	30	in	in	ADP
fsr-3924	227	31	three	three	NUM
fsr-3924	227	32	months	month	NOUN
fsr-3924	227	33	,	,	PUNCT
fsr-3924	227	34	some	some	DET
fsr-3924	227	35	trades	trade	NOUN
fsr-3924	227	36	may	may	AUX
fsr-3924	227	37	have	have	AUX
fsr-3924	227	38	been	be	AUX
fsr-3924	227	39	prohibited	prohibit	VERB
fsr-3924	227	40	.	.	PUNCT
fsr-3924	228	1	to	to	PART
fsr-3924	228	2	ascertain	ascertain	VERB
fsr-3924	228	3	the	the	DET
fsr-3924	228	4	impact	impact	NOUN
fsr-3924	228	5	of	of	ADP
fsr-3924	228	6	this	this	PRON
fsr-3924	228	7	,	,	PUNCT
fsr-3924	228	8	we	we	PRON
fsr-3924	228	9	took	take	VERB
fsr-3924	228	10	a	a	DET
fsr-3924	228	11	worst	bad	ADJ
fsr-3924	228	12	-	-	PUNCT
fsr-3924	228	13	case	case	NOUN
fsr-3924	228	14	approach	approach	NOUN
fsr-3924	228	15	and	and	CCONJ
fsr-3924	228	16	assumed	assume	VERB
fsr-3924	228	17	that	that	SCONJ
fsr-3924	228	18	the	the	DET
fsr-3924	228	19	trades	trade	NOUN
fsr-3924	228	20	would	would	AUX
fsr-3924	228	21	have	have	AUX
fsr-3924	228	22	been	be	AUX
fsr-3924	228	23	prohibited	prohibit	VERB
fsr-3924	228	24	.	.	PUNCT
fsr-3924	229	1	therefore	therefore	ADV
fsr-3924	229	2	,	,	PUNCT
fsr-3924	229	3	the	the	DET
fsr-3924	229	4	investor	investor	NOUN
fsr-3924	229	5	would	would	AUX
fsr-3924	229	6	be	be	AUX
fsr-3924	229	7	required	require	VERB
fsr-3924	229	8	to	to	PART
fsr-3924	229	9	remain	remain	VERB
fsr-3924	229	10	in	in	ADP
fsr-3924	229	11	the	the	DET
fsr-3924	229	12	current	current	ADJ
fsr-3924	229	13	asset	asset	NOUN
fsr-3924	229	14	class	class	NOUN
fsr-3924	229	15	once	once	SCONJ
fsr-3924	229	16	the	the	DET
fsr-3924	229	17	trading	trading	NOUN
fsr-3924	229	18	limit	limit	NOUN
fsr-3924	229	19	was	be	AUX
fsr-3924	229	20	reached	reach	VERB
fsr-3924	229	21	.	.	PUNCT
fsr-3924	230	1	results	result	NOUN
fsr-3924	230	2	show	show	VERB
fsr-3924	230	3	that	that	SCONJ
fsr-3924	230	4	the	the	DET
fsr-3924	230	5	limits	limit	NOUN
fsr-3924	230	6	had	have	VERB
fsr-3924	230	7	little	little	ADJ
fsr-3924	230	8	impact	impact	NOUN
fsr-3924	230	9	on	on	ADP
fsr-3924	230	10	previous	previous	ADJ
fsr-3924	230	11	results	result	NOUN
fsr-3924	230	12	.	.	PUNCT
fsr-3924	231	1	the	the	DET
fsr-3924	231	2	average	average	ADJ
fsr-3924	231	3	return	return	NOUN
fsr-3924	231	4	for	for	ADP
fsr-3924	231	5	the	the	DET
fsr-3924	231	6	constrained	constrain	VERB
fsr-3924	231	7	trading	trading	NOUN
fsr-3924	231	8	strategy	strategy	NOUN
fsr-3924	231	9	is	be	AUX
fsr-3924	231	10	0.00133	0.00133	NUM
fsr-3924	231	11	and	and	CCONJ
fsr-3924	231	12	the	the	DET
fsr-3924	231	13	standard	standard	ADJ
fsr-3924	231	14	deviation	deviation	NOUN
fsr-3924	231	15	is	be	AUX
fsr-3924	231	16	0.010574	0.010574	NUM
fsr-3924	231	17	,	,	PUNCT
fsr-3924	231	18	which	which	PRON
fsr-3924	231	19	produces	produce	VERB
fsr-3924	231	20	a	a	DET
fsr-3924	231	21	sharpe	sharpe	NOUN
fsr-3924	231	22	measure	measure	NOUN
fsr-3924	231	23	of	of	ADP
fsr-3924	231	24	0.106961	0.106961	NUM
fsr-3924	231	25	.	.	PUNCT
fsr-3924	232	1	this	this	PRON
fsr-3924	232	2	compares	compare	VERB
fsr-3924	232	3	favorably	favorably	ADV
fsr-3924	232	4	with	with	ADP
fsr-3924	232	5	the	the	DET
fsr-3924	232	6	results	result	NOUN
fsr-3924	232	7	of	of	ADP
fsr-3924	232	8	buy	buy	NOUN
fsr-3924	232	9	-	-	PUNCT
fsr-3924	232	10	and	and	CCONJ
fsr-3924	232	11	-	-	PUNCT
fsr-3924	232	12	hold	hold	VERB
fsr-3924	232	13	strategies	strategy	NOUN
fsr-3924	232	14	in	in	ADP
fsr-3924	232	15	table	table	NOUN
fsr-3924	232	16	4	4	NUM
fsr-3924	232	17	and	and	CCONJ
fsr-3924	232	18	is	be	AUX
fsr-3924	232	19	slightly	slightly	ADV
fsr-3924	232	20	less	less	ADJ
fsr-3924	232	21	than	than	ADP
fsr-3924	232	22	the	the	DET
fsr-3924	232	23	unconstrained	unconstrained	ADJ
fsr-3924	232	24	rule	rule	NOUN
fsr-3924	232	25	.	.	PUNCT
fsr-3924	233	1	results	result	NOUN
fsr-3924	233	2	of	of	ADP
fsr-3924	233	3	the	the	DET
fsr-3924	233	4	jensen	jensen	PROPN
fsr-3924	233	5	measure	measure	NOUN
fsr-3924	233	6	are	be	AUX
fsr-3924	233	7	also	also	ADV
fsr-3924	233	8	similar	similar	ADJ
fsr-3924	233	9	to	to	ADP
fsr-3924	233	10	the	the	DET
fsr-3924	233	11	unconstrained	unconstrained	ADJ
fsr-3924	233	12	rule	rule	NOUN
fsr-3924	233	13	.	.	PUNCT
fsr-3924	234	1	risk	risk	NOUN
fsr-3924	234	2	-	-	PUNCT
fsr-3924	234	3	adjusted	adjust	VERB
fsr-3924	234	4	return	return	NOUN
fsr-3924	234	5	is	be	AUX
fsr-3924	234	6	0.0005	0.0005	NUM
fsr-3924	234	7	and	and	CCONJ
fsr-3924	234	8	statistically	statistically	ADV
fsr-3924	234	9	significant	significant	ADJ
fsr-3924	234	10	with	with	ADP
fsr-3924	234	11	a	a	DET
fsr-3924	234	12	p	p	NOUN
fsr-3924	234	13	-	-	PUNCT
fsr-3924	234	14	value	value	NOUN
fsr-3924	234	15	of	of	ADP
fsr-3924	234	16	0.00018	0.00018	NUM
fsr-3924	234	17	.	.	PUNCT
fsr-3924	235	1	additionally	additionally	ADV
fsr-3924	235	2	,	,	PUNCT
fsr-3924	235	3	risk	risk	NOUN
fsr-3924	235	4	and	and	CCONJ
fsr-3924	235	5	model	model	NOUN
fsr-3924	235	6	fit	fit	NOUN
fsr-3924	235	7	are	be	AUX
fsr-3924	235	8	essentially	essentially	ADV
fsr-3924	235	9	unchanged	unchanged	ADJ
fsr-3924	235	10	from	from	ADP
fsr-3924	235	11	the	the	DET
fsr-3924	235	12	unconstrained	unconstrained	ADJ
fsr-3924	235	13	model	model	NOUN
fsr-3924	235	14	.	.	PUNCT
fsr-3924	236	1	5	5	X
fsr-3924	236	2	.	.	X
fsr-3924	236	3	conclusion	conclusion	NOUN
fsr-3924	236	4	recent	recent	ADJ
fsr-3924	236	5	evidence	evidence	NOUN
fsr-3924	236	6	suggests	suggest	VERB
fsr-3924	236	7	that	that	SCONJ
fsr-3924	236	8	asset	asset	NOUN
fsr-3924	236	9	class	class	NOUN
fsr-3924	236	10	returns	return	NOUN
fsr-3924	236	11	possess	possess	VERB
fsr-3924	236	12	a	a	DET
fsr-3924	236	13	predictable	predictable	ADJ
fsr-3924	236	14	component	component	NOUN
fsr-3924	236	15	.	.	PUNCT
fsr-3924	237	1	however	however	ADV
fsr-3924	237	2	,	,	PUNCT
fsr-3924	237	3	transactions	transaction	NOUN
fsr-3924	237	4	costs	cost	NOUN
fsr-3924	237	5	such	such	ADJ
fsr-3924	237	6	as	as	ADP
fsr-3924	237	7	commissions	commission	NOUN
fsr-3924	237	8	and	and	CCONJ
fsr-3924	237	9	bid	bid	NOUN
fsr-3924	237	10	-	-	PUNCT
fsr-3924	237	11	ask	ask	VERB
fsr-3924	237	12	spreads	spread	NOUN
fsr-3924	237	13	prevent	prevent	VERB
fsr-3924	237	14	investors	investor	NOUN
fsr-3924	237	15	from	from	ADP
fsr-3924	237	16	exploiting	exploit	VERB
fsr-3924	237	17	this	this	DET
fsr-3924	237	18	predictability	predictability	NOUN
fsr-3924	237	19	.	.	PUNCT
fsr-3924	238	1	this	this	DET
fsr-3924	238	2	study	study	NOUN
fsr-3924	238	3	examines	examine	VERB
fsr-3924	238	4	asset	asset	NOUN
fsr-3924	238	5	class	class	NOUN
fsr-3924	238	6	returns	return	NOUN
fsr-3924	238	7	of	of	ADP
fsr-3924	238	8	tiaa	tiaa	ADJ
fsr-3924	238	9	/	/	SYM
fsr-3924	238	10	cref	cref	NOUN
fsr-3924	238	11	retirement	retirement	NOUN
fsr-3924	238	12	annuities	annuity	NOUN
fsr-3924	238	13	for	for	ADP
fsr-3924	238	14	several	several	ADJ
fsr-3924	238	15	reasons	reason	NOUN
fsr-3924	238	16	.	.	PUNCT
fsr-3924	239	1	first	first	ADV
fsr-3924	239	2	,	,	PUNCT
fsr-3924	239	3	investors	investor	NOUN
fsr-3924	239	4	can	can	AUX
fsr-3924	239	5	trade	trade	VERB
fsr-3924	239	6	these	these	DET
fsr-3924	239	7	retirement	retirement	NOUN
fsr-3924	239	8	annuities	annuity	NOUN
fsr-3924	239	9	without	without	ADP
fsr-3924	239	10	incurring	incur	VERB
fsr-3924	239	11	trading	trading	NOUN
fsr-3924	239	12	costs	cost	NOUN
fsr-3924	239	13	.	.	PUNCT
fsr-3924	240	1	additionally	additionally	ADV
fsr-3924	240	2	,	,	PUNCT
fsr-3924	240	3	these	these	DET
fsr-3924	240	4	annuities	annuity	NOUN
fsr-3924	240	5	should	should	AUX
fsr-3924	240	6	exhibit	exhibit	VERB
fsr-3924	240	7	return	return	VERB
fsr-3924	240	8	predictabilities	predictability	NOUN
fsr-3924	240	9	similar	similar	ADJ
fsr-3924	240	10	to	to	ADP
fsr-3924	240	11	mutual	mutual	ADJ
fsr-3924	240	12	funds	fund	NOUN
fsr-3924	240	13	and	and	CCONJ
fsr-3924	240	14	recent	recent	ADJ
fsr-3924	240	15	evidence	evidence	NOUN
fsr-3924	240	16	suggests	suggest	VERB
fsr-3924	240	17	that	that	SCONJ
fsr-3924	240	18	mutual	mutual	ADJ
fsr-3924	240	19	fund	fund	NOUN
fsr-3924	240	20	asset	asset	NOUN
fsr-3924	240	21	class	class	NOUN
fsr-3924	240	22	indices	index	NOUN
fsr-3924	240	23	exhibit	exhibit	VERB
fsr-3924	240	24	a	a	DET
fsr-3924	240	25	predictable	predictable	ADJ
fsr-3924	240	26	component	component	NOUN
fsr-3924	240	27	.	.	PUNCT
fsr-3924	241	1	our	our	PRON
fsr-3924	241	2	primary	primary	ADJ
fsr-3924	241	3	goal	goal	NOUN
fsr-3924	241	4	is	be	AUX
fsr-3924	241	5	to	to	PART
fsr-3924	241	6	learn	learn	VERB
fsr-3924	241	7	whether	whether	SCONJ
fsr-3924	241	8	tiaa	tiaa	ADJ
fsr-3924	241	9	/	/	SYM
fsr-3924	241	10	cref	cref	NOUN
fsr-3924	241	11	retirement	retirement	NOUN
fsr-3924	241	12	annuities	annuity	NOUN
fsr-3924	241	13	exhibit	exhibit	VERB
fsr-3924	241	14	asset	asset	NOUN
fsr-3924	241	15	class	class	NOUN
fsr-3924	241	16	return	return	NOUN
fsr-3924	241	17	predictability	predictability	NOUN
fsr-3924	241	18	and	and	CCONJ
fsr-3924	241	19	to	to	PART
fsr-3924	241	20	see	see	VERB
fsr-3924	241	21	if	if	SCONJ
fsr-3924	241	22	a	a	DET
fsr-3924	241	23	profitable	profitable	ADJ
fsr-3924	241	24	trading	trading	NOUN
fsr-3924	241	25	scheme	scheme	NOUN
fsr-3924	241	26	exists	exist	VERB
fsr-3924	241	27	.	.	PUNCT
fsr-3924	242	1	we	we	PRON
fsr-3924	242	2	performed	perform	VERB
fsr-3924	242	3	granger	granger	NOUN
fsr-3924	242	4	causality	causality	NOUN
fsr-3924	242	5	tests	test	NOUN
fsr-3924	242	6	and	and	CCONJ
fsr-3924	242	7	found	find	VERB
fsr-3924	242	8	that	that	SCONJ
fsr-3924	242	9	the	the	DET
fsr-3924	242	10	retirement	retirement	NOUN
fsr-3924	242	11	annuity	annuity	NOUN
fsr-3924	242	12	asset	asset	NOUN
fsr-3924	242	13	class	class	NOUN
fsr-3924	242	14	returns	return	NOUN
fsr-3924	242	15	exhibited	exhibit	VERB
fsr-3924	242	16	a	a	DET
fsr-3924	242	17	predictable	predictable	ADJ
fsr-3924	242	18	element	element	NOUN
fsr-3924	242	19	.	.	PUNCT
fsr-3924	243	1	using	use	VERB
fsr-3924	243	2	the	the	DET
fsr-3924	243	3	strength	strength	NOUN
fsr-3924	243	4	of	of	ADP
fsr-3924	243	5	the	the	DET
fsr-3924	243	6	predictable	predictable	ADJ
fsr-3924	243	7	element	element	NOUN
fsr-3924	243	8	,	,	PUNCT
fsr-3924	243	9	we	we	PRON
fsr-3924	243	10	developed	develop	VERB
fsr-3924	243	11	a	a	DET
fsr-3924	243	12	trading	trading	NOUN
fsr-3924	243	13	strategy	strategy	NOUN
fsr-3924	243	14	and	and	CCONJ
fsr-3924	243	15	tested	test	VERB
fsr-3924	243	16	that	that	SCONJ
fsr-3924	243	17	trading	trading	NOUN
fsr-3924	243	18	rule	rule	NOUN
fsr-3924	243	19	on	on	ADP
fsr-3924	243	20	a	a	DET
fsr-3924	243	21	holdout	holdout	NOUN
fsr-3924	243	22	sample	sample	NOUN
fsr-3924	243	23	.	.	PUNCT
fsr-3924	244	1	examination	examination	NOUN
fsr-3924	244	2	of	of	ADP
fsr-3924	244	3	risks	risk	NOUN
fsr-3924	244	4	and	and	CCONJ
fsr-3924	244	5	returns	return	NOUN
fsr-3924	244	6	of	of	ADP
fsr-3924	244	7	the	the	DET
fsr-3924	244	8	trading	trading	NOUN
fsr-3924	244	9	rule	rule	NOUN
fsr-3924	244	10	and	and	CCONJ
fsr-3924	244	11	buy	buy	VERB
fsr-3924	244	12	-	-	PUNCT
fsr-3924	244	13	and	and	CCONJ
fsr-3924	244	14	-	-	PUNCT
fsr-3924	244	15	hold	hold	NOUN
fsr-3924	244	16	strategies	strategy	NOUN
fsr-3924	244	17	show	show	VERB
fsr-3924	244	18	that	that	SCONJ
fsr-3924	244	19	the	the	DET
fsr-3924	244	20	trading	trading	NOUN
fsr-3924	244	21	rule	rule	NOUN
fsr-3924	244	22	has	have	VERB
fsr-3924	244	23	superior	superior	ADJ
fsr-3924	244	24	sharpe	sharpe	PROPN
fsr-3924	244	25	and	and	CCONJ
fsr-3924	244	26	jensen	jensen	PROPN
fsr-3924	244	27	performance	performance	NOUN
fsr-3924	244	28	measures	measure	NOUN
fsr-3924	244	29	compared	compare	VERB
fsr-3924	244	30	with	with	ADP
fsr-3924	244	31	a	a	DET
fsr-3924	244	32	buy	buy	VERB
fsr-3924	244	33	-	-	PUNCT
fsr-3924	244	34	and	and	CCONJ
fsr-3924	244	35	-	-	PUNCT
fsr-3924	244	36	hold	hold	VERB
fsr-3924	244	37	strategy	strategy	NOUN
fsr-3924	244	38	.	.	PUNCT
fsr-3924	245	1	further	far	ADV
fsr-3924	245	2	,	,	PUNCT
fsr-3924	245	3	the	the	DET
fsr-3924	245	4	recent	recent	ADJ
fsr-3924	245	5	trading	trading	NOUN
fsr-3924	245	6	constraints	constraint	NOUN
fsr-3924	245	7	implemented	implement	VERB
fsr-3924	245	8	by	by	ADP
fsr-3924	245	9	tiaa	tiaa	NOUN
fsr-3924	245	10	/	/	SYM
fsr-3924	245	11	cref	cref	NOUN
fsr-3924	245	12	do	do	AUX
fsr-3924	245	13	not	not	PART
fsr-3924	245	14	eliminate	eliminate	VERB
fsr-3924	245	15	the	the	DET
fsr-3924	245	16	ability	ability	NOUN
fsr-3924	245	17	of	of	ADP
fsr-3924	245	18	informed	informed	ADJ
fsr-3924	245	19	investors	investor	NOUN
fsr-3924	245	20	to	to	PART
fsr-3924	245	21	enhance	enhance	VERB
fsr-3924	245	22	their	their	PRON
fsr-3924	245	23	reward	reward	NOUN
fsr-3924	245	24	-	-	PUNCT
fsr-3924	245	25	to	to	ADP
fsr-3924	245	26	-	-	PUNCT
fsr-3924	245	27	risk	risk	NOUN
fsr-3924	245	28	ratio	ratio	NOUN
fsr-3924	245	29	through	through	ADP
fsr-3924	245	30	trading	trading	NOUN
fsr-3924	245	31	based	base	VERB
fsr-3924	245	32	on	on	ADP
fsr-3924	245	33	statistical	statistical	ADJ
fsr-3924	245	34	relationships	relationship	NOUN
fsr-3924	245	35	.	.	PUNCT
fsr-3924	246	1	this	this	DET
fsr-3924	246	2	finding	finding	NOUN
fsr-3924	246	3	has	have	VERB
fsr-3924	246	4	implications	implication	NOUN
fsr-3924	246	5	for	for	ADP
fsr-3924	246	6	management	management	NOUN
fsr-3924	246	7	at	at	ADP
fsr-3924	246	8	tiaa	tiaa	NOUN
fsr-3924	246	9	/	/	SYM
fsr-3924	246	10	cref	cref	NOUN
fsr-3924	246	11	,	,	PUNCT
fsr-3924	246	12	portfolio	portfolio	NOUN
fsr-3924	246	13	managers	manager	NOUN
fsr-3924	246	14	,	,	PUNCT
fsr-3924	246	15	and	and	CCONJ
fsr-3924	246	16	investors	investor	NOUN
fsr-3924	246	17	seeking	seek	VERB
fsr-3924	246	18	the	the	DET
fsr-3924	246	19	best	good	ADJ
fsr-3924	246	20	risk	risk	NOUN
fsr-3924	246	21	-	-	PUNCT
fsr-3924	246	22	return	return	NOUN
fsr-3924	246	23	relationship	relationship	NOUN
fsr-3924	246	24	.	.	PUNCT
fsr-3924	247	1	references	reference	NOUN
fsr-3924	247	2	brown	brown	PROPN
fsr-3924	247	3	,	,	PUNCT
fsr-3924	247	4	k.	k.	PROPN
fsr-3924	247	5	,	,	PUNCT
fsr-3924	247	6	&	&	CCONJ
fsr-3924	247	7	brown	brown	PROPN
fsr-3924	247	8	,	,	PUNCT
fsr-3924	247	9	g.	g.	PROPN
fsr-3924	247	10	(	(	PUNCT
fsr-3924	247	11	1987	1987	NUM
fsr-3924	247	12	)	)	PUNCT
fsr-3924	247	13	.	.	PUNCT
fsr-3924	248	1	does	do	VERB
fsr-3924	248	2	the	the	DET
fsr-3924	248	3	composition	composition	NOUN
fsr-3924	248	4	of	of	ADP
fsr-3924	248	5	the	the	DET
fsr-3924	248	6	market	market	NOUN
fsr-3924	248	7	portfolio	portfolio	NOUN
fsr-3924	248	8	really	really	ADV
fsr-3924	248	9	matter?journal	matter?journal	PROPN
fsr-3924	248	10	of	of	ADP
fsr-3924	248	11	portfolio	portfolio	NOUN
fsr-3924	248	12	management,(winter	management,(winter	PROPN
fsr-3924	248	13	)	)	PUNCT
fsr-3924	248	14	,	,	PUNCT
fsr-3924	248	15	26–32	26–32	NUM
fsr-3924	248	16	.	.	PUNCT
fsr-3924	249	1	229e.m	229e.m	NUM
fsr-3924	249	2	.	.	PUNCT
fsr-3924	250	1	miller	miller	PROPN
fsr-3924	250	2	,	,	PUNCT
fsr-3924	250	3	l.j	l.j	PROPN
fsr-3924	250	4	.	.	PROPN
fsr-3924	250	5	prather	prather	PROPN
fsr-3924	250	6	/	/	SYM
fsr-3924	250	7	financial	financial	ADJ
fsr-3924	250	8	services	service	NOUN
fsr-3924	250	9	review	review	VERB
fsr-3924	250	10	9	9	NUM
fsr-3924	250	11	(	(	PUNCT
fsr-3924	250	12	2000	2000	NUM
fsr-3924	250	13	)	)	PUNCT
fsr-3924	251	1	219–230	219–230	NUM
fsr-3924	251	2	chalmers	chalmer	NOUN
fsr-3924	251	3	,	,	PUNCT
fsr-3924	251	4	j.	j.	PROPN
fsr-3924	251	5	,	,	PUNCT
fsr-3924	251	6	edelen	edelen	PROPN
fsr-3924	251	7	,	,	PUNCT
fsr-3924	251	8	j.	j.	PROPN
fsr-3924	251	9	,	,	PUNCT
fsr-3924	251	10	&	&	CCONJ
fsr-3924	251	11	kadlec	kadlec	PROPN
fsr-3924	251	12	,	,	PUNCT
fsr-3924	251	13	g.	g.	PROPN
fsr-3924	251	14	(	(	PUNCT
fsr-3924	251	15	1999	1999	NUM
fsr-3924	251	16	)	)	PUNCT
fsr-3924	251	17	.	.	PUNCT
fsr-3924	252	1	the	the	DET
fsr-3924	252	2	wildcard	wildcard	ADJ
fsr-3924	252	3	option	option	NOUN
fsr-3924	252	4	in	in	ADP
fsr-3924	252	5	transacting	transact	VERB
fsr-3924	252	6	mutual	mutual	ADJ
fsr-3924	252	7	-	-	PUNCT
fsr-3924	252	8	fund	fund	NOUN
fsr-3924	252	9	shares	share	NOUN
fsr-3924	252	10	.	.	PUNCT
fsr-3924	253	1	unpublished	unpublished	ADJ
fsr-3924	253	2	working	working	NOUN
fsr-3924	253	3	paper	paper	NOUN
fsr-3924	253	4	,	,	PUNCT
fsr-3924	253	5	university	university	NOUN
fsr-3924	253	6	of	of	ADP
fsr-3924	253	7	pennsylvania	pennsylvania	PROPN
fsr-3924	253	8	.	.	PUNCT
fsr-3924	254	1	college	college	PROPN
fsr-3924	254	2	retirement	retirement	PROPN
fsr-3924	254	3	equities	equities	PROPN
fsr-3924	254	4	fund	fund	NOUN
fsr-3924	254	5	prospectus	prospectus	NOUN
fsr-3924	254	6	,	,	PUNCT
fsr-3924	254	7	individual	individual	NOUN
fsr-3924	254	8	,	,	PUNCT
fsr-3924	254	9	group	group	NOUN
fsr-3924	254	10	,	,	PUNCT
fsr-3924	254	11	and	and	CCONJ
fsr-3924	254	12	tax	tax	NOUN
fsr-3924	254	13	-	-	PUNCT
fsr-3924	254	14	deferred	defer	VERB
fsr-3924	254	15	variable	variable	ADJ
fsr-3924	254	16	annuities	annuity	NOUN
fsr-3924	254	17	.	.	PUNCT
fsr-3924	255	1	(	(	PUNCT
fsr-3924	255	2	may	may	PROPN
fsr-3924	255	3	1	1	NUM
fsr-3924	255	4	)	)	PUNCT
fsr-3924	255	5	2000	2000	NUM
fsr-3924	255	6	,	,	PUNCT
fsr-3924	255	7	pp	pp	ADP
fsr-3924	255	8	.	.	PUNCT
fsr-3924	256	1	1–45	1–45	PROPN
fsr-3924	256	2	.	.	PUNCT
fsr-3924	257	1	goetzmann	goetzmann	PROPN
fsr-3924	257	2	,	,	PUNCT
fsr-3924	257	3	w.	w.	PROPN
fsr-3924	257	4	,	,	PUNCT
fsr-3924	257	5	ivkovic	ivkovic	PROPN
fsr-3924	257	6	´	´	NOUN
fsr-3924	257	7	,	,	PUNCT
fsr-3924	257	8	z.	z.	PROPN
fsr-3924	257	9	,	,	PUNCT
fsr-3924	257	10	&	&	CCONJ
fsr-3924	257	11	rouwenhorst	rouwenhorst	PROPN
fsr-3924	257	12	,	,	PUNCT
fsr-3924	257	13	g.	g.	PROPN
fsr-3924	257	14	(	(	PUNCT
fsr-3924	257	15	2000	2000	NUM
fsr-3924	257	16	)	)	PUNCT
fsr-3924	257	17	.	.	PUNCT
fsr-3924	258	1	day	day	NOUN
fsr-3924	258	2	trading	trade	VERB
fsr-3924	258	3	international	international	ADJ
fsr-3924	258	4	mutual	mutual	ADJ
fsr-3924	258	5	funds	fund	NOUN
fsr-3924	258	6	:	:	PUNCT
fsr-3924	258	7	evidence	evidence	NOUN
fsr-3924	258	8	and	and	CCONJ
fsr-3924	258	9	policy	policy	NOUN
fsr-3924	258	10	solutions	solution	NOUN
fsr-3924	258	11	.	.	PUNCT
fsr-3924	259	1	unpublished	unpublished	ADJ
fsr-3924	259	2	working	working	NOUN
fsr-3924	259	3	paper	paper	NOUN
fsr-3924	259	4	,	,	PUNCT
fsr-3924	259	5	yale	yale	PROPN
fsr-3924	259	6	university	university	PROPN
fsr-3924	259	7	.	.	PUNCT
fsr-3924	260	1	granger	granger	PROPN
fsr-3924	260	2	,	,	PUNCT
fsr-3924	260	3	c.	c.	PROPN
fsr-3924	260	4	(	(	PUNCT
fsr-3924	260	5	1969	1969	NUM
fsr-3924	260	6	)	)	PUNCT
fsr-3924	260	7	.	.	PUNCT
fsr-3924	261	1	investigating	investigate	VERB
fsr-3924	261	2	causal	causal	ADJ
fsr-3924	261	3	relationships	relationship	NOUN
fsr-3924	261	4	by	by	ADP
fsr-3924	261	5	econometric	econometric	ADJ
fsr-3924	261	6	models	model	NOUN
fsr-3924	261	7	and	and	CCONJ
fsr-3924	261	8	cross	cross	ADJ
fsr-3924	261	9	-	-	ADJ
fsr-3924	261	10	spectral	spectral	ADJ
fsr-3924	261	11	models.econometrica	models.econometrica	PROPN
fsr-3924	261	12	,	,	PUNCT
fsr-3924	261	13	37,424–438	37,424–438	NUM
fsr-3924	261	14	.	.	PUNCT
fsr-3924	262	1	hamao	hamao	PROPN
fsr-3924	262	2	,	,	PUNCT
fsr-3924	262	3	y.	y.	PROPN
fsr-3924	262	4	,	,	PUNCT
fsr-3924	262	5	masulis	masulis	PROPN
fsr-3924	262	6	,	,	PUNCT
fsr-3924	262	7	r.	r.	PROPN
fsr-3924	262	8	,	,	PUNCT
fsr-3924	262	9	&	&	CCONJ
fsr-3924	262	10	ng	ng	PROPN
fsr-3924	262	11	,	,	PUNCT
fsr-3924	262	12	v.	v.	PROPN
fsr-3924	262	13	(	(	PUNCT
fsr-3924	262	14	1990	1990	NUM
fsr-3924	262	15	)	)	PUNCT
fsr-3924	262	16	.	.	PUNCT
fsr-3924	263	1	correlations	correlation	NOUN
fsr-3924	263	2	in	in	ADP
fsr-3924	263	3	price	price	NOUN
fsr-3924	263	4	changes	change	NOUN
fsr-3924	263	5	and	and	CCONJ
fsr-3924	263	6	volatility	volatility	NOUN
fsr-3924	263	7	across	across	ADP
fsr-3924	263	8	international	international	ADJ
fsr-3924	263	9	stock	stock	NOUN
fsr-3924	263	10	markets.the	markets.the	PRON
fsr-3924	263	11	review	review	NOUN
fsr-3924	263	12	of	of	ADP
fsr-3924	263	13	financial	financial	ADJ
fsr-3924	263	14	studies	study	NOUN
fsr-3924	263	15	,	,	PUNCT
fsr-3924	263	16	3,281–307	3,281–307	NUM
fsr-3924	263	17	.	.	PUNCT
fsr-3924	264	1	jensen	jensen	PROPN
fsr-3924	264	2	,	,	PUNCT
fsr-3924	264	3	m.	m.	NOUN
fsr-3924	264	4	(	(	PUNCT
fsr-3924	264	5	1968	1968	NUM
fsr-3924	264	6	)	)	PUNCT
fsr-3924	264	7	.	.	PUNCT
fsr-3924	265	1	the	the	DET
fsr-3924	265	2	performance	performance	NOUN
fsr-3924	265	3	of	of	ADP
fsr-3924	265	4	mutual	mutual	ADJ
fsr-3924	265	5	funds	fund	NOUN
fsr-3924	265	6	in	in	ADP
fsr-3924	265	7	the	the	DET
fsr-3924	265	8	period	period	NOUN
fsr-3924	265	9	1945–1964.journal	1945–1964.journal	NUM
fsr-3924	265	10	of	of	ADP
fsr-3924	265	11	finance	finance	NOUN
fsr-3924	265	12	,	,	PUNCT
fsr-3924	265	13	23,389–419	23,389–419	PROPN
fsr-3924	265	14	.	.	PUNCT
fsr-3924	265	15	kunkel	kunkel	PROPN
fsr-3924	265	16	,	,	PUNCT
fsr-3924	265	17	r.	r.	PROPN
fsr-3924	265	18	,	,	PUNCT
fsr-3924	265	19	&	&	CCONJ
fsr-3924	265	20	compton	compton	PROPN
fsr-3924	265	21	,	,	PUNCT
fsr-3924	265	22	w.	w.	PROPN
fsr-3924	265	23	(	(	PUNCT
fsr-3924	265	24	1998	1998	NUM
fsr-3924	265	25	)	)	PUNCT
fsr-3924	265	26	.	.	PUNCT
fsr-3924	266	1	a	a	DET
fsr-3924	266	2	tax	tax	NOUN
fsr-3924	266	3	-	-	PUNCT
fsr-3924	266	4	free	free	ADJ
fsr-3924	266	5	exploitation	exploitation	NOUN
fsr-3924	266	6	of	of	ADP
fsr-3924	266	7	the	the	DET
fsr-3924	266	8	turn	turn	NOUN
fsr-3924	266	9	-	-	PUNCT
fsr-3924	266	10	of	of	ADP
fsr-3924	266	11	-	-	PUNCT
fsr-3924	266	12	the	the	DET
fsr-3924	266	13	-	-	PUNCT
fsr-3924	266	14	month	month	NOUN
fsr-3924	266	15	effect	effect	NOUN
fsr-3924	266	16	:	:	PUNCT
fsr-3924	266	17	c.r.e.f.financial	c.r.e.f.financial	ADJ
fsr-3924	266	18	services	service	NOUN
fsr-3924	266	19	review	review	PROPN
fsr-3924	266	20	,	,	PUNCT
fsr-3924	266	21	7,11–23	7,11–23	X
fsr-3924	266	22	.	.	PROPN
fsr-3924	266	23	lehmann	lehmann	PROPN
fsr-3924	266	24	,	,	PUNCT
fsr-3924	266	25	b.	b.	PROPN
fsr-3924	266	26	,	,	PUNCT
fsr-3924	266	27	&	&	CCONJ
fsr-3924	266	28	modest	modest	ADJ
fsr-3924	266	29	,	,	PUNCT
fsr-3924	266	30	d.	d.	PROPN
fsr-3924	266	31	(	(	PUNCT
fsr-3924	266	32	1987	1987	NUM
fsr-3924	266	33	)	)	PUNCT
fsr-3924	266	34	.	.	PUNCT
fsr-3924	267	1	mutual	mutual	ADJ
fsr-3924	267	2	fund	fund	NOUN
fsr-3924	267	3	performance	performance	NOUN
fsr-3924	267	4	evaluation	evaluation	NOUN
fsr-3924	267	5	:	:	PUNCT
fsr-3924	267	6	a	a	DET
fsr-3924	267	7	comparison	comparison	NOUN
fsr-3924	267	8	of	of	ADP
fsr-3924	267	9	benchmarks	benchmark	NOUN
fsr-3924	267	10	and	and	CCONJ
fsr-3924	267	11	benchmark	benchmark	NOUN
fsr-3924	267	12	comparisons.journal	comparisons.journal	PROPN
fsr-3924	267	13	of	of	ADP
fsr-3924	267	14	finance	finance	NOUN
fsr-3924	267	15	,	,	PUNCT
fsr-3924	267	16	42,233–265	42,233–265	PROPN
fsr-3924	267	17	.	.	PUNCT
fsr-3924	268	1	lo	lo	PROPN
fsr-3924	268	2	,	,	PUNCT
fsr-3924	268	3	a.	a.	PROPN
fsr-3924	268	4	,	,	PUNCT
fsr-3924	268	5	&	&	CCONJ
fsr-3924	268	6	mackinlay	mackinlay	PROPN
fsr-3924	268	7	,	,	PUNCT
fsr-3924	268	8	a.	a.	PROPN
fsr-3924	268	9	(	(	PUNCT
fsr-3924	268	10	1999).a	1999).a	NUM
fsr-3924	268	11	non	non	ADJ
fsr-3924	268	12	-	-	ADJ
fsr-3924	268	13	random	random	ADJ
fsr-3924	268	14	walk	walk	NOUN
fsr-3924	268	15	down	down	ADP
fsr-3924	268	16	wall	wall	PROPN
fsr-3924	268	17	street.princeton	street.princeton	PROPN
fsr-3924	268	18	,	,	PUNCT
fsr-3924	268	19	new	new	PROPN
fsr-3924	268	20	jersey	jersey	PROPN
fsr-3924	268	21	:	:	PUNCT
fsr-3924	268	22	princeton	princeton	PROPN
fsr-3924	268	23	.	.	PUNCT
fsr-3924	269	1	miller	miller	PROPN
fsr-3924	269	2	,	,	PUNCT
fsr-3924	269	3	e.	e.	PROPN
fsr-3924	269	4	,	,	PUNCT
fsr-3924	269	5	&	&	CCONJ
fsr-3924	269	6	prather	prather	PROPN
fsr-3924	269	7	,	,	PUNCT
fsr-3924	269	8	l.	l.	PROPN
fsr-3924	269	9	(	(	PUNCT
fsr-3924	269	10	1999	1999	NUM
fsr-3924	269	11	)	)	PUNCT
fsr-3924	269	12	.	.	PUNCT
fsr-3924	270	1	lead	lead	VERB
fsr-3924	270	2	and	and	CCONJ
fsr-3924	270	3	lag	lag	VERB
fsr-3924	270	4	relationships	relationship	NOUN
fsr-3924	270	5	among	among	ADP
fsr-3924	270	6	asset	asset	NOUN
fsr-3924	270	7	classes	class	NOUN
fsr-3924	270	8	:	:	PUNCT
fsr-3924	270	9	evidence	evidence	NOUN
fsr-3924	270	10	from	from	ADP
fsr-3924	270	11	the	the	DET
fsr-3924	270	12	mutual	mutual	ADJ
fsr-3924	270	13	fund	fund	NOUN
fsr-3924	270	14	industry	industry	NOUN
fsr-3924	270	15	.	.	PUNCT
fsr-3924	271	1	(	(	PUNCT
fsr-3924	271	2	working	working	NOUN
fsr-3924	271	3	paper	paper	NOUN
fsr-3924	271	4	,	,	PUNCT
fsr-3924	271	5	east	east	PROPN
fsr-3924	271	6	tennessee	tennessee	PROPN
fsr-3924	271	7	state	state	PROPN
fsr-3924	271	8	university	university	PROPN
fsr-3924	271	9	)	)	PUNCT
fsr-3924	271	10	.	.	PUNCT
fsr-3924	272	1	najand	najand	NOUN
fsr-3924	272	2	,	,	PUNCT
fsr-3924	272	3	m.	m.	NOUN
fsr-3924	272	4	,	,	PUNCT
fsr-3924	272	5	&	&	CCONJ
fsr-3924	272	6	prather	prather	PROPN
fsr-3924	272	7	,	,	PUNCT
fsr-3924	272	8	l.	l.	PROPN
fsr-3924	272	9	(	(	PUNCT
fsr-3924	272	10	1999	1999	NUM
fsr-3924	272	11	)	)	PUNCT
fsr-3924	272	12	.	.	PUNCT
fsr-3924	273	1	the	the	DET
fsr-3924	273	2	risk	risk	NOUN
fsr-3924	273	3	level	level	NOUN
fsr-3924	273	4	discriminatory	discriminatory	ADJ
fsr-3924	273	5	power	power	NOUN
fsr-3924	273	6	of	of	ADP
fsr-3924	273	7	mutual	mutual	ADJ
fsr-3924	273	8	fund	fund	NOUN
fsr-3924	273	9	investment	investment	NOUN
fsr-3924	273	10	objectives	objective	NOUN
fsr-3924	273	11	:	:	PUNCT
fsr-3924	273	12	additional	additional	ADJ
fsr-3924	273	13	evidence.journal	evidence.journal	PROPN
fsr-3924	273	14	of	of	ADP
fsr-3924	273	15	financial	financial	ADJ
fsr-3924	273	16	markets	market	NOUN
fsr-3924	273	17	,	,	PUNCT
fsr-3924	273	18	2,307–328	2,307–328	NUM
fsr-3924	273	19	.	.	PUNCT
fsr-3924	274	1	sharpe	sharpe	PROPN
fsr-3924	274	2	,	,	PUNCT
fsr-3924	274	3	w.	w.	PROPN
fsr-3924	274	4	(	(	PUNCT
fsr-3924	274	5	1966	1966	NUM
fsr-3924	274	6	)	)	PUNCT
fsr-3924	274	7	.	.	PUNCT
fsr-3924	275	1	mutual	mutual	ADJ
fsr-3924	275	2	fund	fund	NOUN
fsr-3924	275	3	performance.journal	performance.journal	PROPN
fsr-3924	275	4	of	of	ADP
fsr-3924	275	5	business	business	NOUN
fsr-3924	275	6	,	,	PUNCT
fsr-3924	275	7	39,119–138	39,119–138	PROPN
fsr-3924	275	8	.	.	PUNCT
fsr-3924	276	1	richardson	richardson	PROPN
fsr-3924	276	2	,	,	PUNCT
fsr-3924	276	3	t.	t.	PROPN
fsr-3924	276	4	,	,	PUNCT
fsr-3924	276	5	&	&	CCONJ
fsr-3924	276	6	peterson	peterson	PROPN
fsr-3924	276	7	,	,	PUNCT
fsr-3924	276	8	d.	d.	PROPN
fsr-3924	276	9	(	(	PUNCT
fsr-3924	276	10	1999	1999	NUM
fsr-3924	276	11	)	)	PUNCT
fsr-3924	276	12	.	.	PUNCT
fsr-3924	277	1	the	the	DET
fsr-3924	277	2	cross	cross	NOUN
fsr-3924	277	3	-	-	NOUN
fsr-3924	277	4	autocorrelation	autocorrelation	NOUN
fsr-3924	277	5	of	of	ADP
fsr-3924	277	6	sized	sized	ADJ
fsr-3924	277	7	-	-	PUNCT
fsr-3924	277	8	based	base	VERB
fsr-3924	277	9	portfolio	portfolio	NOUN
fsr-3924	277	10	returns	return	NOUN
fsr-3924	277	11	is	be	AUX
fsr-3924	277	12	not	not	PART
fsr-3924	277	13	an	an	DET
fsr-3924	277	14	artifact	artifact	NOUN
fsr-3924	277	15	of	of	ADP
fsr-3924	277	16	portfolio	portfolio	NOUN
fsr-3924	277	17	autocorrelation.the	autocorrelation.the	DET
fsr-3924	277	18	journal	journal	NOUN
fsr-3924	277	19	of	of	ADP
fsr-3924	277	20	financial	financial	ADJ
fsr-3924	277	21	research	research	NOUN
fsr-3924	277	22	,	,	PUNCT
fsr-3924	277	23	22,1–13	22,1–13	PROPN
fsr-3924	277	24	.	.	PROPN
fsr-3924	277	25	varela	varela	PROPN
fsr-3924	277	26	,	,	PUNCT
fsr-3924	277	27	o.	o.	PROPN
fsr-3924	277	28	(	(	PUNCT
fsr-3924	277	29	1997	1997	NUM
fsr-3924	277	30	)	)	PUNCT
fsr-3924	277	31	.	.	PUNCT
fsr-3924	278	1	efficient	efficient	ADJ
fsr-3924	278	2	market	market	NOUN
fsr-3924	278	3	implications	implication	NOUN
fsr-3924	278	4	of	of	ADP
fsr-3924	278	5	institutional	institutional	ADJ
fsr-3924	278	6	practices	practice	NOUN
fsr-3924	278	7	in	in	ADP
fsr-3924	278	8	obtaining	obtain	VERB
fsr-3924	278	9	net	net	ADJ
fsr-3924	278	10	asset	asset	NOUN
fsr-3924	278	11	values	value	NOUN
fsr-3924	278	12	for	for	ADP
fsr-3924	278	13	asian	asian	ADJ
fsr-3924	278	14	-	-	PUNCT
fsr-3924	278	15	market	market	NOUN
fsr-3924	278	16	based	base	VERB
fsr-3924	278	17	mutual	mutual	ADJ
fsr-3924	278	18	funds	fund	NOUN
fsr-3924	278	19	in	in	ADP
fsr-3924	278	20	the	the	DET
fsr-3924	278	21	u.s	u.s	PROPN
fsr-3924	278	22	.	.	PROPN
fsr-3924	278	23	unpublished	unpublished	ADJ
fsr-3924	278	24	working	working	NOUN
fsr-3924	278	25	paper	paper	NOUN
fsr-3924	278	26	no	no	INTJ
fsr-3924	278	27	.	.	PUNCT
fsr-3924	279	1	8–97	8–97	PROPN
fsr-3924	279	2	,	,	PUNCT
fsr-3924	279	3	university	university	NOUN
fsr-3924	279	4	of	of	ADP
fsr-3924	279	5	new	new	PROPN
fsr-3924	279	6	orleans	orleans	PROPN
fsr-3924	279	7	)	)	PUNCT
fsr-3924	279	8	.	.	PUNCT
fsr-3924	280	1	230	230	NUM
fsr-3924	280	2	e.m	e.m	PROPN
fsr-3924	280	3	.	.	PROPN
fsr-3924	280	4	miller	miller	PROPN
fsr-3924	280	5	,	,	PUNCT
fsr-3924	280	6	l.j	l.j	PROPN
fsr-3924	280	7	.	.	PROPN
fsr-3924	280	8	prather	prather	PROPN
fsr-3924	280	9	/	/	SYM
fsr-3924	280	10	financial	financial	ADJ
fsr-3924	280	11	services	service	NOUN
fsr-3924	280	12	review	review	VERB
fsr-3924	280	13	9	9	NUM
fsr-3924	280	14	(	(	PUNCT
fsr-3924	280	15	2000	2000	NUM
fsr-3924	280	16	)	)	PUNCT
fsr-3924	280	17	219–230	219–230	NUM