Phil Baker is the founder of www.fairvalueonline.com which provides fair values of major currency pairs, indices and commodities using multiple regression analysis. The offering includes backtesting to give a performance rating of go long/short signals. Also, interactive working with the models is enabled, to allow testing of eg. the impact on a currency pair of different oil price, interest rate and/or stock market index scenarios. Phil has a particular interest in combining fair value-based trading with portfolio construction to manage risk. His backtesting shows that attractive volatility-adjusted returns can be achieved by trading a diversified portfolio of currencies, indices and commodities.