Methodology Changes

We are making two changes to CXOadvisory.com methodology:

1. The Social Science Research Network (SSRN) is our principal source of research relevant to individual investors. We monitor relevant parts of SSRN to discover such research. However, with widespread use of Large Language Models (LLM), inputs to SSRN seem to have multiplied and become, on the whole, much less relevant to our use. To address this lower signal-to-noise ratio, we are implementing a separate “Investing Research Sweep” via Claude to discover important ideas across the web.
2. S&P 500 12-month trailing operating earnings yield is a key input to the Simple Asset Class ETF Value Strategy (SACEVS) model. Until the end of January 2026, S&P Global for many years made up-to-date S&P 500 earnings publicly available. Starting with the fourth quarter of 2025, we are experimenting with LLMs to estimate S&P 500 operating earnings (Grok corroborated by Claude). We dovetail these estimates with prior data from S&P Global. With this change, we will update the earnings estimates in SACEVS more frequently than quarterly. Though SACEVS is usually a slow-changing model, this change could increase allocation volatility.

We will audit results of these changes for plausibility and usefulness.