Much academic research has been conducted regarding the use of momentum, the tendency for near-term performance to persist for the near term, for security selection but less so in support of sub-asset category allocation decisions. Oyster recounts some of the momentum research conducted by leaders in the field such as Mark Carhart and Cliff Asness and goes on to describe a means by which momentum analysis can be utilized at the broader portfolio level when making active asset-allocation decisions. Oyster’s technique draws upon two forms of momentum, cross-sectional and time series. A momentum score for 25 different asset categories is determined and then the group is ranked. The portfolio formed from those categories exhibiting top quartile performance is shown to outperform the lower ranked 75 percent.