@article{Cumb-Mode-1987,
	title = {Testing for Market Timing Ability: A Framework for Forecast
          Evaluation},
	author = {Robert E. Cumby and David M. Modest},
	month = {January},
	pages = {169-189},
	volume = {19},
	year = {1987},
	biburl = {http://www.bibsonomy.org/bibtex/21f204586cf10e01cecb0560631b30536/deepgorge},
	abstract = {In this paper, we examine the Henriksson-Merton test of market
             timing and its potential usefulness in evaluating investment
             advice. The paper proposes a natural extension of the test that
             is valid under more general assumptions about the distribution of
             asset returns. We show that the Henriksson-Merton test and its
             more general counterpart are special cases of standard tests of
             market rationality and efficiency. Both tests are applied to a
             group of foreign exchange advisory.},
	keywords = {imported }
}