Portfolio Update - 09/30/08
By proceeding, I acknowledge that I have read and understood the Disclaimer, Performance Reporting Disclosure and Copyright Statements . Dear Clients, There is nothing else to say except that this was a really bad quarter for my strategy. In my update, I’ll explain what happened and why and what I’m doing to rectify my strategy to protect you in the future. I am preparing my Quarterly Update along with your performance reports and fee statements. I’m aiming to mail them out by Friday. In the interim, I wanted to report on your account performance so far this year: Here is how my performance measured up to the averages on a YTD basis:
| PORTFOLIO | 2007 Return | Q3/YTD Return |
| Core Portfolio | 12.5% | (14.7%) |
| Focus Portfolio | 11.0% | (13.7%) |
| S&P 500 (VFINX) | 5.4% | (19.3%) |
| NASDAQ 100 (QQQQ) | 19.0% | (23.9%) |
| Benchmark | 8.5% | (8.7%) |
While this quarter has seen a sizeable pullback in many of our positions, the long-term up trends for our holdings were never breached which suggests the secular bull market in these positions in still in tact. If the up trends are breached, then I’ll be liquidating your positions. As always, please do not hesitate to call me if you have any questions or concerns regarding your account. All the best, Matt
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