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	<title>CXO Advisory &#187; Buybacks-Secondaries</title>
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		<title>Buyback Size Effect? [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/11485/size-effect/buyback-size-effect/</link>
		<comments>http://www.cxoadvisory.com/11485/size-effect/buyback-size-effect/#comments</comments>
		<pubDate>Wed, 01 Feb 2012 11:09:04 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Buybacks-Secondaries]]></category>
		<category><![CDATA[Size Effect]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=11485</guid>
		<description><![CDATA[Do companies reliably repurchase their stocks at bargain prices, thus providing signals for investors to tag along? In the January 2012 update of their paper entitled &#8220;Do Firms Buy Their Stock at Bargain Prices? Evidence from Actual Stock Repurchase Disclosures&#8221;, Azi Ben-Rephael, Jacob Oded and Avi Wohl use detailed repurchase data from SEC filings since <a href="http://www.cxoadvisory.com/11485/size-effect/buyback-size-effect/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Extinction of the Buyback/Secondary Offering Effect? [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/16805/buybacks-secondaries/extinction-of-the-buybacksecondary-offering-effect/</link>
		<comments>http://www.cxoadvisory.com/16805/buybacks-secondaries/extinction-of-the-buybacksecondary-offering-effect/#comments</comments>
		<pubDate>Mon, 10 Oct 2011 10:03:56 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Buybacks-Secondaries]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=16805</guid>
		<description><![CDATA[Past research indicates that returns for stocks associated with share buybacks (secondary offerings) tend to be abnormally high (low) in subsequent years, suggesting that management successfully times the market and investors respond slowly to the timing signal. Do these findings persist in recent data? In their June 2011 paper entitled &#8220;The Persistence of Long-Run Abnormal <a href="http://www.cxoadvisory.com/16805/buybacks-secondaries/extinction-of-the-buybacksecondary-offering-effect/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Robustness Tests for Ten Popular Stock Return Anomalies [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/12818/big-ideas/robustness-tests-for-ten-popular-stock-return-anomalies/</link>
		<comments>http://www.cxoadvisory.com/12818/big-ideas/robustness-tests-for-ten-popular-stock-return-anomalies/#comments</comments>
		<pubDate>Mon, 28 Mar 2011 10:03:34 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Big Ideas]]></category>
		<category><![CDATA[Buybacks-Secondaries]]></category>
		<category><![CDATA[Fundamental Valuation]]></category>
		<category><![CDATA[Momentum Investing]]></category>
		<category><![CDATA[Size Effect]]></category>
		<category><![CDATA[Value Premium]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=12818</guid>
		<description><![CDATA[In their March 2011 paper entitled &#8220;The Shrinking Space for Anomalies&#8221;, George Jiang and Andrew Zhang investigate the robustness of ten well-known anomalies by iteratively &#8220;shrinking the stock space&#8221; in two ways to determine whether and how the anomalies really work. The ten anomaly variables are: size, book-to-market ratio, momentum, two liquidity measures, More... You <a href="http://www.cxoadvisory.com/12818/big-ideas/robustness-tests-for-ten-popular-stock-return-anomalies/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Research on the Value of Insider Trading Data</title>
		<link>http://www.cxoadvisory.com/7296/investing-expertise/research-on-the-value-of-insider-trading-data/</link>
		<comments>http://www.cxoadvisory.com/7296/investing-expertise/research-on-the-value-of-insider-trading-data/#comments</comments>
		<pubDate>Sun, 11 Jul 2010 13:39:34 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Buybacks-Secondaries]]></category>
		<category><![CDATA[Investing Expertise]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=7296</guid>
		<description><![CDATA[A reader commented and asked: &#8220;I searched your site for &#8216;insider&#8217; and found very little investigation of a relationship between insider buys and stock price movement. Is this an area you could look at, classify and present to readers?&#8221; See the &#8220;Buybacks-Secondaries&#8221; category for research on insider trading conducted at the corporate level. See also <a href="http://www.cxoadvisory.com/7296/investing-expertise/research-on-the-value-of-insider-trading-data/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Parsing Impacts of SEOs on Future Stock Returns</title>
		<link>http://www.cxoadvisory.com/2304/buybacks-secondaries/parsing-impacts-of-seos-on-future-stock-returns/</link>
		<comments>http://www.cxoadvisory.com/2304/buybacks-secondaries/parsing-impacts-of-seos-on-future-stock-returns/#comments</comments>
		<pubDate>Wed, 25 Nov 2009 22:06:37 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Buybacks-Secondaries]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=2304</guid>
		<description><![CDATA[...evidence suggests that investors may be able to predict which SEOs will engender the most pronounced subsequent market underperformance by measuring the level of surprise in the SEO announcement.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Aggregate Buyback Activity a Useful Stock Market Indicator?</title>
		<link>http://www.cxoadvisory.com/2937/buybacks-secondaries/aggregate-buyback-activity-a-useful-stock-market-indicator/</link>
		<comments>http://www.cxoadvisory.com/2937/buybacks-secondaries/aggregate-buyback-activity-a-useful-stock-market-indicator/#comments</comments>
		<pubDate>Wed, 16 Sep 2009 21:45:19 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Buybacks-Secondaries]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=2937</guid>
		<description><![CDATA["Results appear to indicate that firm executives are not especially good timers of the aggregate stock market."]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Modifiers of the Stock Buyback Indicator</title>
		<link>http://www.cxoadvisory.com/2180/buybacks-secondaries/modifiers-of-the-stock-buyback-indicator/</link>
		<comments>http://www.cxoadvisory.com/2180/buybacks-secondaries/modifiers-of-the-stock-buyback-indicator/#comments</comments>
		<pubDate>Fri, 29 May 2009 20:17:58 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Buybacks-Secondaries]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=2180</guid>
		<description><![CDATA[...evidence suggests that investors may be able to enhance stock buyback signaling by focusing on firms with relatively low insider ownership.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Methods and Results for ValueInvestorsClub.com Members</title>
		<link>http://www.cxoadvisory.com/1973/fundamental-valuation/methods-and-results-for-valueinvestorsclub-com-members/</link>
		<comments>http://www.cxoadvisory.com/1973/fundamental-valuation/methods-and-results-for-valueinvestorsclub-com-members/#comments</comments>
		<pubDate>Wed, 14 Jan 2009 17:11:32 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Buybacks-Secondaries]]></category>
		<category><![CDATA[Fundamental Valuation]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=1973</guid>
		<description><![CDATA[...the professional investors at ValueInvestorsClub.com on average successfully identify and exploit value opportunities by focusing mostly on mismatches between stock price and intrinsic value.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Big Winners from Stock Buybacks?</title>
		<link>http://www.cxoadvisory.com/1968/buybacks-secondaries/big-winners-from-stock-buybacks/</link>
		<comments>http://www.cxoadvisory.com/1968/buybacks-secondaries/big-winners-from-stock-buybacks/#comments</comments>
		<pubDate>Fri, 19 Dec 2008 17:07:47 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Buybacks-Secondaries]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=1968</guid>
		<description><![CDATA[...evidence for the management compensation (rather than reward for shareholders) motivation for open market stock buybacks is mounting, causing investors to pay less attention to buybacks.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Fama and French Dissect Anomalies</title>
		<link>http://www.cxoadvisory.com/1582/big-ideas/fama-and-french-dissect-anomalies/</link>
		<comments>http://www.cxoadvisory.com/1582/big-ideas/fama-and-french-dissect-anomalies/#comments</comments>
		<pubDate>Mon, 14 Jan 2008 22:34:19 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Big Ideas]]></category>
		<category><![CDATA[Buybacks-Secondaries]]></category>
		<category><![CDATA[Momentum Investing]]></category>
		<category><![CDATA[Size Effect]]></category>
		<category><![CDATA[Value Premium]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=1582</guid>
		<description><![CDATA[...some anomalies are stronger and more consistent than others. Momentum appears to be the strongest and most consistent.]]></description>
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		<slash:comments>0</slash:comments>
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