Chronology of investing styles

<body><table border="0" cellpadding="0" cellspacing="0" width="100%"><tr><td> <font face="garamond, times new roman, times" mstheme> <p> Chronology </p> <p> </p> </font mstheme> </td></tr></table><table border="0" cellpadding="0" cellspacing="0" width="100%"><tr><td valign="top" width="1%"><font face="garamond, times new roman, times" mstheme> <p> </p> </font mstheme></td><td valign="top" width="24"></td><td valign="top"> <p>This page uses frames, but your browser doesn't support them. </p> <p><font face="Arial Narrow" size="2" color="#C0C0C0"><strong>Style: Chronology</strong></font></p> <p><strong><em><font face="Arial Narrow" size="2" color="#00FF00">Buy on the rumour, </font><font face="Arial Narrow" size="2" color="#FF0000">Sell on the News</font></em></strong></p> <p><strong><font face="Arial Narrow" size="2" color="#C0C0C0">This type of chart lets you zoom in to look with great magnification at the financial history of any market over any period in the past quarter of a century. Its main purpose is to show the significance of key events that do not lend themselves to systematic analysis. This type does not include a Best Guess. The dates of important events straddle the index at the time and place where they occurred and a news headline is shown alongside. The selection includes key economic, political, international and market specific events. These charts are much larger - around twice the width and three times the length - to make room for the news headlines. </font></strong></p> <p><font face="Arial Narrow" size="2" color="#C0C0C0"><strong>SmallCaps are used for this example. Comparable charts are also available for Growth, Value, Technology and Resources investment styles.</strong></font></p> <p><strong><font face="Arial Narrow" size="2" color="#C0C0C0">Because these charts extend well beyond the edges of the page, it is necessary to use the scroll bars on the right and at the bottom of the main window to locate the period of interest. If no data is immediately visible, scroll down till the series appears.  </font></strong></p> <p><strong><font face="Arial Narrow" size="2" color="#C0C0C0">In each chart the stock market index is shown by </font><font color="#FFFFFF" face="Arial Narrow" size="2">the bold white line</font><font face="Arial Narrow" size="2" color="#C0C0C0"> , the explanatory variables, in this case news headlines, are shown in </font><font face="Arial Narrow" size="2" color="#FFFF00">yellow text</font><font face="Arial Narrow" size="2" color="#C0C0C0"> and the dates are </font><font face="Arial Narrow" size="2" color="#00FF00">bright green</font><font face="Arial Narrow" size="2" color="#C0C0C0">. The month / year divider marks the precise point at which each event took place. <a href="Form_Questions.htm" target="_top">Common Problems</a> describes the browser features for exposing a larger part of this chart on your screen.</font></strong></p> <p><strong><font face="Arial Narrow" size="2" color="#C0C0C0">In the interests of brevity, initials often replace full names. If these are unfamiliar to you, explanations can be found in <a href="Guidebook_investment_alphabet_soup.htm" target="_top">Alphabet Soup</a>.</font></strong></p> <p><font face="Arial Narrow" size="2" color="#C0C0C0"><strong>There are several ways to compensate for losing visibility of the axes. Firstly to compensate for the timescale at the bottom, the key dates appear in the plot area at the point where they occur.  Secondly the use of log scales makes it unnecessary to see the value axes, because the vertical distance between any two points in the chart reflects the same percentage movement, whatever the index level. Furthermore the log scale is the same across all charts of this type. (See GuideBook for further explanation.) The values are in any event indicative only, as each stock market index has been rebased individually in this type of chart. However, because of the relatively small percentage movements, the Global investment perspective is shown using the same linear value scales as in other types of chart. These can be seen by scrolling to either the left or right sides of the chart.</strong></font></p> <p><font face="Arial Narrow" size="2" color="#C0C0C0">I<strong>n order to provide the maximum possible magnification, the treatment of time periods is also different. Instead of the normal medium and long-term timescales, there are two cosecutive periods, of which the former covers the earlier part of the long timescale period and the latter corresponds to the same timescale as the Decade in other types of chart. The <a href="Form_Questions.htm#Chart Size">Zoom facility</a> in IE5 is especially useful here.</strong></font></p> <hr color="#FF0000"> <p align="center"><font size="2">[ <a href="global_asset_allocation_sitemap.htm" target="_top">Site Map</a> ] [ <a href="index.htm" target="_top">Home</a> ] </font><font size="2" face="Arial"><br> </font><font size="2">[ <a href="Chart_Library.htm" target="_top">Chart Library</a> ] [ <a href="ChartLibrary_investing_style.htm" target="_top">Style Charts</a> ]</font> </td></tr></table><table border="0" cellpadding="0" cellspacing="0" width="100%"><tr><td><font face="garamond, times new roman, times" mstheme> <p align="left"><font face="Arial Narrow" size="1" color="#C0C0C0">Copyright © 1999 Professional Investment Tools Ltd., authorised by the Financial Securities Authority. An Independent Financial Adviser. Please read Financial Health Warning and Licence Agreement. UK laws apply exclusively. Principal sources: Consensus Economics, Corel Corp., FIBV, Global Financial Data, PIT, national governments and stock exchanges. Information and opinions are based on sources believed to be reliable and accurate. However PIT does not guarantee this to be the case, and does not accept liability for any loss arising. This is for information only and does not constitute a solicitation to deal in any securities. Opinions are liable to change. Past performance is no guarantee of future success. Last modified: January 05, 2001</font><font face="Arial Narrow" size="2" color="#C0C0C0"><strong>.</strong></font></p> </font mstheme></td></tr></table></body>