公开(公告)号：US08589276B2

公开(公告)日：2013-11-19

申请号：US13216238

申请日：2011-08-23

申请人： Robert D. Arnott ,  Paul Christopher Wood

发明人： Robert D. Arnott ,  Paul Christopher Wood

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06

摘要： A system, method and computer program product creates an index based on accounting based data, as well as a portfolio of financial objects based on the index where the portfolio is weighted according to accounting based data. A passive investment system may be based on indices created from various metrics. The indexes may be built with metrics other than market capitalization weighting, price weighting or equal weighting. Non-financial metrics may also be used to build indexes to create passive investment systems. Additionally, a combination of financial non-market capitalization metrics may be used along with non-financial metrics to create passive investment systems. Once the index is built, it may be used as a basis to purchase securities for a portfolio. Specifically excluded are widely-used capitalization-weighted indexes and price-weighted indexes, in which the price of a security contributes in a substantial way to the calculation of the weight of that security in the index or the portfolio, and equal weighting weighted indexes. Valuation indifferent indexes avoid overexposure to overvalued securities and underexposure to undervalued securities, as compared with conventional capitalization-weighted and price-weighted.

公开(公告)号：US08374937B2

公开(公告)日：2013-02-12

申请号：US12619668

申请日：2009-11-16

申请人： Robert D. Arnott ,  Paul Christopher Wood

发明人： Robert D. Arnott ,  Paul Christopher Wood

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06 ,  G06Q30/02

摘要： An investment system based on indexes created from various metrics is disclosed. The indexes may be built by selecting from a universe of assets, a subset using selection and weighting metrics substantially independent of market capitalization weighting, price weighting, or equal weighting. These metrics may include, but are not limited to book value, sales, dividends, cash flow, employees, demographics, etc. A combination of financial non-market capitalization metrics may be used along with non-financial metrics to create passive investment systems. Once the index is built, it may be used as a basis to purchase securities for a portfolio. As the data underlying the indexes change because of, e.g., economic activity, the index may be updated and may be used as a basis to rebalance the portfolio. Valuation indifferent indexes of the present invention avoid overexposure to overvalued securities and underexposure to undervalued securities, as compared with conventional capitalization-weighted price-weighted indexes.

摘要翻译： 披露了基于各种指标创建的指标的投资体系。 这些指数可以通过从资产的世界中选择一个子集，使用选择和基本上独立于市值加权，价格加权或相等加权的加权指标。 这些指标可能包括但不限于账面价值，销售额，股息，现金流量，员工，人口统计等。财务非市值资本指标的组合可与非财务指标一起使用以创建被动投资系统。 一旦该指数建成，它可能被用作为投资组合购买证券的基础。 由于例如经济活动，索引所依据的数据会发生变化，因此可能会更新该指数，并将其用作重新平衡投资组合的基础。 与传统资本加权价格加权指数相比，本发明的估值无关指标避免过度暴露于高估的证券和低估证券的低估。

公开(公告)号：US20100312719A1

公开(公告)日：2010-12-09

申请号：US12857479

申请日：2010-08-16

申请人： Robert D. Arnott

发明人： Robert D. Arnott

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/06

摘要： A computer program product embodied on a computer readable medium may enable a computer processor to perform a method for generating a correlated investment. The method may include the steps of: discounting to present value one or more future liabilities at a discount rate of a bond that matures at the same time as the future liabilities; generating a correlated investment using an original investment amount and/or leverage funds; monitoring market information about a bond market and/or inflation using a computer; and recalibrating the correlated investment using the computer according to the market information and/or inflation, including: recommending at least one of buying or selling portions of the correlated investment securities and/or portfolio as indicated by the market and/or inflation information. The future liabilities may be of a duration greater than the duration of the longest available bond issued by an applicable sovereign.

摘要翻译： 体现在计算机可读介质上的计算机程序产品可以使计算机处理器执行用于产生相关投资的方法。 该方法可以包括以下步骤：以与未来负债同时成熟的债券贴现率贴现现值一个或多个未来负债; 使用原始投资金额和/或利用资金产生相关投资; 使用计算机监控关于债券市场和/或通货膨胀的市场信息; 以及根据市场信息和/或通货膨胀重新校正相关投资，其中包括：建议由市场和/或通货膨胀信息所指示的相关投资证券和/或投资组合的购买或出售部分中的至少一个。 未来的负债可能持续时间大于适用主权国家发行的最长可用债券的期限。

公开(公告)号：US20100287116A1

公开(公告)日：2010-11-11

申请号：US12619668

申请日：2009-11-16

申请人： Robert D. Arnott ,  Paul C. Wood

发明人： Robert D. Arnott ,  Paul C. Wood

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06 ,  G06Q30/02

摘要： An investment system based on indices created from various metrics is disclosed. The indexes may be built by selecting from a universe of assets, a subset using selection metrics primarily substantially independent of market capitalization weighting, price weighting or equal weighting. These metrics may include, but are not limited to book value, sales, revenue, debt to equity adjusted sales, earnings, earnings per share, EBITDA, income, income growth rate, any dividends, any dividends per share, any dividend yield, any distribution to holders, buybacks, cumulative retained cashflow, earnings before interest, tax, depreciation and amortization, employees, demographics, etc. Non-financial metrics may also be used to build indexes, which may be used to create investment systems. Additionally, a combination of financial non-market capitalization metrics may be used along with non-financial metrics to create passive investment systems. Once the index is built, it may be used as a basis to purchase securities for a portfolio. As the data underlying the indexes change because of, e.g., economic activity, the index may be updated and may be used as a basis to rebalance the portfolio. Several time periods may be averaged. Alternatively, the index can be rebalanced when a pre-determined threshold is reached, or on a periodic or aperiodic basis. Specifically excluded are widely-used capitalization-weighted indexes and price-weighted indexes, in which the price of a security contributes in a substantial way to the selection of the constituents in the index or the portfolio. Valuation indifferent indexes of the present invention avoid overexposure to overvalued securities and underexposure to undervalued securities, as compared with conventional capitalization-weighted and price-weighted.

摘要翻译： 披露了基于各种指标创建的指数的投资体系。 这些指数可以通过从一个资产的世界中选择一个子集，一个子集使用主要基本上独立于市值加权，价格权重或相等权重的选择指标。 这些指标可能包括但不限于账面价值，销售，收入，债务与权益调整后的销售额，收益，每股收益，EBITDA，收入，收入增长率，任何股息，每股股息，任何股息收益率，任何 分配给持有人，回购，累积保留的现金流，利息前的收益，税收，折旧和摊销，员工，人口统计等。非财务指标也可用于构建可用于创建投资系统的指数。 此外，金融非市值资本指标的组合可以与非财务指标一起使用，以创建被动投资系统。 一旦该指数建成，它可能被用作为投资组合购买证券的基础。 由于例如经济活动，索引所依据的数据会发生变化，因此可能会更新该指数，并将其用作重新平衡投资组合的基础。 可以对几个时间段进行平均。 或者，当达到预定阈值时，或者在周期性或非周期性的基础上，索引可以重新平衡。 具体排除的是广泛使用的资本化加权指数和价格加权指数，其中证券的价格大大有助于选择指数或投资组合中的三方成员。 与传统的资本化加权和价格加权相比，本发明的估值无关指数避免过度暴露于高估的证券和低估的低估证券。

公开(公告)号：US07778905B2

公开(公告)日：2010-08-17

申请号：US11508888

申请日：2006-08-24

申请人： Robert D. Arnott

发明人： Robert D. Arnott

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/00 ,  G06Q40/06

摘要： A computer program product embodied on a computer readable medium may enable a computer processor to perform a method for generating a correlated investment. The method may include the steps of: discounting to present value one or more future liabilities at a discount rate of a bond that matures at the same time as the future liabilities; generating a correlated investment using an original investment amount and leverage funds; monitoring market information about a bond market using a computer; and recalibrating the correlated investment using the computer according to the market information, including: recommending at least one of buying or selling portions of the correlated investment as indicated by the market information. The future liabilities may be of a duration greater than the duration of the longest available bond issued by a sovereign.

摘要翻译： 体现在计算机可读介质上的计算机程序产品可以使计算机处理器执行用于产生相关投资的方法。 该方法可以包括以下步骤：以与未来负债同时成熟的债券贴现率贴现现值一个或多个未来负债; 利用原始投资金额产生相关投资，筹集资金; 使用计算机监控有关债券市场的市场信息; 并根据市场信息使用计算机重新调整相关投资，包括：根据市场信息推荐相关投资的部分购买或出售中的至少一项。 未来负债的持续时间可能大于主权发行的最长可用债券期限。

公开(公告)号：US20100063942A1

公开(公告)日：2010-03-11

申请号：US12554961

申请日：2009-09-07

申请人： Robert D. Arnott ,  Paul C. Wood

发明人： Robert D. Arnott ,  Paul C. Wood

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06 ,  G06Q40/10 ,  G06Q40/12

摘要： A system, method and/or computer program product for managing an index and/or a portfolio of financial objects. An index may be created, which may include selecting financial objects based on accounting data and/or weighting the financial objects based on accounting data. A portfolio may be created based on the index. A plurality of investment managers may manage a plurality of accounts for a plurality of investors. The investors may directly hold assets in the accounts so that the investors may take advantage of any tax benefits generated by transactions using the assets in the accounts. An investor(s) may have one or more accounts and thus one or more managers. A manager may have one or more investors and thus one or more accounts to manage. A virtual mutual fund manager may use a holdings matrix and a lot matrix to track the asset lots in the accounts. When a manager wishes to make a trade affecting an investor, the virtual mutual fund manager may determine which asset lots held by the investor should be used to execute the trade. Optionally, each investor may be associated with a tax-managed account. The tax-managed account may be used by the virtual fund manager to make deferred “paper” trades thereby avoiding certain adverse tax consequences that may be created when an investor has multiple managers. Optionally, each investor may allow loss-harvesting trades to be executed on his or her behalf in circumstances where such trades may reduce the investor's tax obligations.

摘要翻译： 一种用于管理指数和/或金融对象组合的系统，方法和/或计算机程序产品。 可以创建索引，其可以包括基于会计数据选择财务对象和/或基于会计数据对财务对象进行加权。 可以根据索引创建投资组合。 多个投资经理可以为多个投资者管理多个账户。 投资者可以直接在账户中持有资产，以便投资者可以利用账户中的资产交易产生的任何税收优惠。 投资者可能有一个或多个帐户，因此可能有一个或多个经理。 经理可能有一个或多个投资者，因此有一个或多个帐户进行管理。 虚拟共同基金经理可以使用持有矩阵和批次矩阵来跟踪账户中的资产批次。 当经理希望进行影响投资者的交易时，虚拟共同基金经理可以确定投资者持有的哪些资产手段应用于执行交易。 可选地，每个投资者可以与税务管理的帐户相关联。 虚拟基金经理可以使用纳税管理账户进行延期“纸”交易，从而避免当投资者有多名经理时可能产生的某些不利税务后果。 可选地，每个投资者可以允许在这种交易可能减少投资者的税务义务的情况下代表他或她执行的收获收益交易。

公开(公告)号：US07587352B2

公开(公告)日：2009-09-08

申请号：US11509003

申请日：2006-08-24

申请人： Robert D. Arnott

发明人： Robert D. Arnott

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06 ,  G06Q10/063 ,  G06Q40/00 ,  G06Q40/04 ,  G06Q40/10

摘要： A method of managing financial object(s), on a computer, including but not limited to managing a virtual portfolio of the objects where the portfolio may include a collection of objects managed collectively but tracked separately with separately owned lots on behalf of investor(s); providing a database associating lot(s) owned by each of the investors and associating the lots as tradable regardless of initiator of the purchase; providing lot selection rules; receiving a requested trade; selecting a lot for trading using the database, the lot selection rules, and the requested trade; providing taxation rules; determining if a trade using the selected lot should be deferred; generating a deferred trade in a tax-managed sub-account if it is determined that the requested trade should be deferred; and selecting the deferred trade in the sub-account for execution if the deferred trade should no longer be deferred using the database and the taxation rules.

摘要翻译： 一种在计算机上管理财务对象的方法，包括但不限于管理对象的虚拟投资组合，其中投资组合可以包括集体管理的集合，而是代表投资者分开独立地跟踪独立的地块 ）; 提供一个数据库，将每个投资者所拥有的批次关联起来，将批次关联到交易中，而不管采购的发起者; 提供批量选择规则; 接受要求的贸易; 使用数据库，批次选择规则和所要求的交易选择很多交易; 提供税收规则; 确定是否应推迟使用所选批次的交易; 如果确定要求的交易被推迟，则在税收管理的子帐户中产生递延交易; 如果不再使用数据库和税收规则推迟递延交易，则选择子账户中的递延交易执行。

公开(公告)号：US08560414B2

公开(公告)日：2013-10-15

申请号：US12857479

申请日：2010-08-16

申请人： Robert D. Arnott

发明人： Robert D. Arnott

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/06

摘要： A computer program product embodied on a computer readable medium may enable a computer processor to perform a method for generating a correlated investment. The method may include the steps of: discounting to present value one or more future liabilities at a discount rate of a bond that matures at the same time as the future liabilities; generating a correlated investment using an original investment amount and/or leverage funds; monitoring market information about a bond market and/or inflation using a computer; and recalibrating the correlated investment using the computer according to the market information and/or inflation, including: recommending at least one of buying or selling portions of the correlated investment securities and/or portfolio as indicated by the market and/or inflation information. The future liabilities may be of a duration greater than the duration of the longest available bond issued by an applicable sovereign.

摘要翻译： 体现在计算机可读介质上的计算机程序产品可以使计算机处理器执行用于产生相关投资的方法。 该方法可以包括以下步骤：以与未来负债同时成熟的债券贴现率贴现现值一个或多个未来负债; 使用原始投资金额和/或利用资金产生相关投资; 使用计算机监控关于债券市场和/或通货膨胀的市场信息; 以及根据市场信息和/或通货膨胀重新校正相关投资，其中包括：建议由市场和/或通货膨胀信息所指示的相关投资证券和/或投资组合的购买或出售部分中的至少一个。 未来的负债可能持续时间大于适用主权国家发行的最长可用债券的期限。

公开(公告)号：USRE44098E1

公开(公告)日：2013-03-19

申请号：US13569200

申请日：2012-08-08

申请人： Robert D. Arnott ,  Paul C. Wood

发明人： Robert D. Arnott ,  Paul C. Wood

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06 ,  G06Q40/00 ,  G06Q40/04

摘要： A system, method and computer program product creates an index based on accounting based data, as well as a portfolio of financial objects based on the index where the portfolio is weighted according to accounting based data. A passive investment system may be based on indices created from various metrics. The indexes may be built with metrics other than market capitalization weighting, price weighting or equal weighting. Non-financial metrics may also be used to build indexes to create passive investment systems. Additionally, a combination of financial non-market capitalization metrics may be used along with non-financial metrics to create passive investment systems. Once the index is built, it may be used as a basis to purchase securities for a portfolio. Specifically excluded are widely-used capitalization-weighted indexes and price-weighted indexes, in which the price of a security contributes in a substantial way to the calculation of the weight of that security in the index or the portfolio, and equal weighting weighted indexes. Valuation indifferent indexes avoid overexposure to overvalued securities and underexposure to undervalued securities, as compared with conventional capitalization-weighted and price-weighted.

摘要翻译： 系统，方法和计算机程序产品基于基于会计的数据创建索引，以及基于根据基于会计数据加权投资组合的指数的财务对象组合。 被动投资系统可以基于从各种指标创建的指数。 指数可以用除市值加权，价格权重或相等权重之外的指标构建。 非财务指标也可用于构建指标来创建被动投资系统。 此外，金融非市值资本指标的组合可以与非财务指标一起使用，以创建被动投资系统。 一旦该指数建成，它可能被用作为投资组合购买证券的基础。 具体排除的是广泛使用的资本化加权指数和价格加权指数，其中证券的价格以实质的方式贡献于计算指数或投资组合中该证券的权重，以及相等的加权权重指数。 估值无关的指标避免过度暴露于高估的证券和低估的低估证券，与传统的资本化加权和价格加权相比。

公开(公告)号：US20080288416A1

公开(公告)日：2008-11-20

申请号：US11931913

申请日：2007-10-31

申请人： Robert D. Arnott ,  Paul C. Wood

发明人： Robert D. Arnott ,  Paul C. Wood

IPC分类号： G06Q40/00 ,  G06F12/00

CPC分类号： G06Q30/02 ,  G06Q40/00 ,  G06Q40/06

摘要： A system, method and computer program product creates an index based on accounting based data, as well as a portfolio of financial objects based on the index where the portfolio is weighted according to accounting based data. A passive investment system may be based on indices created from various metrics. The indexes may be built with metrics other than market capitalization weighting, price weighting or equal weighting. Non-financial metrics may also be used to build indexes to create passive investment systems. Additionally, a combination of financial non-market capitalization metrics may be used along with non-financial metrics to create passive investment systems. Once the index is built, it may be used as a basis to purchase securities for a portfolio. Specifically excluded are widely-used capitalization-weighted indexes and price-weighted indexes, in which the price of a security contributes in a substantial way to the calculation of the weight of that security in the index or the portfolio, and equal weighting weighted indexes. Valuation indifferent indexes avoid overexposure to overvalued securities and underexposure to undervalued securities, as compared with conventional capitalization-weighted and price-weighted.

摘要翻译： 系统，方法和计算机程序产品基于基于会计的数据创建索引，以及基于根据基于会计数据加权投资组合的指数的财务对象组合。 被动投资系统可以基于从各种指标创建的指数。 指数可以用除市值加权，价格权重或相等权重之外的指标构建。 非财务指标也可用于构建指标来创建被动投资系统。 此外，金融非市值资本指标的组合可以与非财务指标一起使用，以创建被动投资系统。 一旦该指数建成，它可能被用作为投资组合购买证券的基础。 具体排除的是广泛使用的资本化加权指数和价格加权指数，其中证券的价格以实质的方式贡献于计算指数或投资组合中该证券的权重，以及相等的加权权重指数。 估值无关的指标避免过度暴露于高估的证券和低估的低估证券，与传统的资本化加权和价格加权相比。