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Let me "dump" what's in my mind...too full now.

1. Econometrics:
+) can build a complex model; once model built, can have a quick forecasting, precise.
-) too complex, not easy to understand; may need to interpret the result; not working well in a downward market.

2. Economic Indicator:
+) simple and easy to use; can be combined for diff purpose; available from third party sources; research supports its usafulness.
-) the economic condition may change over time; some forecasting from leading indicator may be misleading.

3. Checklist:
+) easy to use, forgot...
-) may be time intensive? subjective. may not work for complicated investment objectives.

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