In this issue of the Financial Analysts Journal, you will find the following articles:

Investing in Deflation, Inflation, and Stagflation Regimes
Guido Baltussen, Laurens Swinkels, Bart van Vliet, CFA, and Pim van Vliet

Long-Term Shareholder Returns: Evidence from 64,000 Global Stocks
Hendrik Bessembinder, Te-Feng Chen, Goeun Choi, and K. C. John Wei

Geographic Investing: Stock Return Indexes Based on Company Operations
Bernard Dumas, Tymur Gabuniya, and Richard C. Marston

Factor-Targeted Asset Allocation: A Reverse Optimization Approach
Jacky S. H. Lee and Marco Salerno

Is Sector Neutrality in Factor Investing a Mistake?
Sina Ehsani, Campbell R. Harvey, and Feifei Li

Factor Replication with Industry Stratification
Surpreet Bharjana, Rohan Fletcher, and Paul Lajbcygier

Time-Series Predictability for Sector Investing
Jin Suk Park and Mohammad Khaleq Newaz

Personalized Multiple Account Portfolio Optimization
Thomas M. Idzorek, CFA