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Barron’s announced its new Barron’s 400 index today, which uses a rating system developed by MarketGrader.com to choose stocks for inclusion.  Unlike the S&P 500, the index is meant to be more of an investment tool than a measure of overall market performance.  MarketGrader uses a proprietary method to rate stocks of all sizes (large-cap, mid-cap, and small-cap) on a scale of 0-100 based on value, profitability, growth, and cash flow metrics.  Best of all, the index isn’t  automatically weighted by market cap, which means the largest stocks don’t impact returns as significantly.  I like the equal-weight spin, and will continue to watch this one.  You can learn more about the index at www.barrons400.com.