The Beta Investment Report is an independent-minded newsletter intent on finding value-based opportunities in the global capital and commodity markets for use within strategic and tactical asset allocation frameworks. BIR evaluates the world's major asset classes--the so-called betas of stocks, bonds, real estate (REITs), commodities as well as their principal subcategories--and index fund products in search of historical perspective and prospective opportunity with regards to portfolio construction. Informed by a deep understanding of finance theory, empirical research and real-world performance records, the newsletter offers timely advice and analysis for individuals and institutions with medium- to long-term investment horizons. BIR's core readership is focused on the design and management of globally diversified investment portfolios using index mutual funds and exchange traded funds (ETFs) in a dynamic asset allocation setting. BIR is also a valuable resource for active-management-oriented investors and strategists who are looking for "big picture" perspective.