1. For the US stock universe what is a good information coefficient for a quant model?

2. What is an acceptable IC?

3. How would a size of the stock universe affect threshold values for questions 1-2?

4. A stock selection factor is tested on a monthly data for the in-sample period between June of 2005 through July of 2007 showing a good information coefficient and decent decile spreads. What can we conclude about the usefulness of this factor on a standalone basis going forward? List your concerns in the order of importance and how you would address them.