FIRST QUADRANT CLASSICS
• Treading Where Alpha Does Not Sum to Zero
• Alpha Shop
• Wine Lovers Guide to Active Investing
• The Case for Quantitative Management
• Thoughts on Grinold and Kahn’s “Fundamental
  Law of Active Management”

GLOBAL TAA / GLOBAL MACRO
• What To Make, and Not Make, of the Recent   Performance of Global Macro
• The Emergence of TAA as Global Macro
• Where TAA and Market Timing Part Company
• Domestic TAA Is to Global TAA What the Calculator   Is to the Desktop Computer
• Opportunities in Global Bonds
• Bottom Up Valuation in Global Asset Allocation
• Sector Rotation: The New Holy Grail or the Latest   Fad?

CURRENCY
• What to Make of Active Currency Managers'   Recent Underperformance
• A Simple Measure of Purchasing Power Parity
• Optimal Currency Hedge Ratios – Redux
• Putting Active Currency Management at the Top
  of Your 2004 Agenda
• The Top Ten Excuses for Not Actively Managing   Currency
• Purchasing Power Parity: Even the Big Mac Can   Predict FX Rates
• Currency Management

EQUITIES
• Alpha and Beta in Market Neutral
• Valuation, Without a Value Bias
• Excess Returns, Stock Splits, and Analyst Earnings   Forecasts

OPTIONS
• Options and Other Protective Strategies
• Using Options in a TAA Process

TAX-ADVANTAGED EQUITIES
• Tax Management, Loss Harvesting, and HIFO   Accounting
• Loss Harvesting: What’s It Worth to the Taxable   Investor?
• Tax-Advantaged Investing
• How Well Have Taxable Investors Been Served in   the 1980’s and 1990’s?
• The Management and Mismanagement of Taxable   Assets

REBALANCING
• Rebalancing a Global Policy Benchmark: How to   Profit from Necessity
• Rebalancing: Dull and Unimportant... Not!
• Tactical Rebalancing

FQ PERSPECTIVES
FQ Perspectives gives a sense of the rigorous analytic thinking that backs up our decision making. It’s also a place where we share with you some of the ideas we’ve been kicking around among ourselves.

• Is Your IC Stable Enough to Benefit from Short   Extensions?
• New Volatility Regime Supportive for First   Quadrant's Global Macro Program
• Piloting Quantitative Investment Strategies
• What To Make, and Not Make, of the Recent   Performance of Global Macro
• Taking a Global View in 2007
• What to Make of Active Currency Managers'   Recent Underperformance
• Risk Shouldn't Be the Elephant in the Room
• Treading Where Alpha Does Not Sum to Zero
• The Emergence of TAA as Global Macro
• Transaction Cost Management
• A Simple Measure of Purchasing Power Parity
• Optimal Currency Hedge Ratios – Redux
• Alpha Shop
• Alpha and Beta In Market Neutral

CURRENCY MONITOR
FQ’s take on the currency markets.

• Currency Laws
• The Cradle Will Rock...
• Let's Get a Quick Bite at the Exchange
• Hic sunt dracones... (a.k.a. "Here be   dragons"...)
• A Balanced View of Foreign Exchange
• A Balanced Diet of Trade and Investment
• Can You Spare a Dime?
• Does Oil Glitter?
• They've Got You Pegged
• How Risky Is Active Currency Management,   Part II?
• How Risky Is Active Currency Management,   Part I?
• Do You Want Fries with That Currency   Portfolio?
• Sailing with Currencies...Again
• A Flow of a Different Color
• Square Pegs and Round Holes...
• The Great Compression...?