Statements

Disclaimer Statement McKinney Avenue Capital is a Registered Investment Advisor providing investment advisory services to individuals and institutions that uses its own research, along with other data, in making investment decisions for its managed accounts. As a result, McKinney Avenue Capital may have executed transactions for its managed accounts in securities mentioned prior to postings on this world wide website.

The information contained on this world wide website is not, without additional data and analysis, sufficient to form the basis of an investment decision regarding any one security. The research reflects McKinney Avenue Capital’s views as of the date of publication, which is subject to change without notice. McKinney Avenue Capital may make investment decisions for its managed accounts that are inconsistent with, or contrary to, the views expressed at www.investorsadv.com.

Past performance does not guarantee future results. There are risks associated with investing, including the risk of loss of principal. There is no assurance that McKinney Avenue Capital’s investment process will consistently lead to successful results. Furthermore, the opinions, forecasts, investment themes and portfolio recommendations are subject to change at any time, based on market and other conditions.

The information contained on this world wide website has been obtained from sources that we believe to be reliable, but we don’t guarantee its accuracy or completeness. This data is presented for informational purposes only. The MAC is not liable for any investment decisions based on the information presented in this document.

Performance Reporting The MAC uses this website from time to time to report the performance of its portfolio to clients and prospective clients. Past performance does not guarantee future results. There are risks associated with investing, including the risk of loss of principal. Investment performance is subject to material market and economic conditions that could adversely impact account returns. There is no assurance that the MAC’s investment process will consistently lead to successful results. Returns include the reinvestment of all dividends, capital gains and earnings.

Performance figures are calculated by averaging the returns on all Firm’s accounts that are assigned to each respective model (Core and Focus). Returns are net of all fees and expenses. Client accounts will not be used in the calculation of returns if the client holds other securities in their account that are not part of the model or if significant amounts of cash is moving in or out of the account as these activities might cause a discrepancy in account performance. While we seek to minimize variance in account performance, some dispersion is inevitable. Each account may experience slightly different returns than what is reported on this world wide website.

We use the Vanguard 500 Index fund (VFINX) as our measurement for the S&P 500 Index and the NASDAQ 100 Trust shares (QQQQ) as our NASDAQ index measurement. Our firm’s recognized benchmark is Scott Burn’s Coach Potato Portfolio which consists of a 50% allocation to the Vanguard Total Market Index Fund (VTSMX) and a 50% allocation to the Vanguard Inflation-Protected Bond Fund (VIPSX). Performance is calculated by taking a simple average of each fund’s performance. All fund performance data is acquired from Morningstar.

Unless otherwise noted, all figures are as of the close of business on the date that appears in the title of the blog entry - not the date of the post.

Copyright Statement The works of authorship contained in this world wide website in the domain www.investorsadv.com, including but not limited to all design, text, images, and charts or other data compilations or collective works are owned, except as otherwise expressly stated, by McKinney Avenue Capital, and may not be copied, reproduced, transmitted, displayed, performed, distributed, rented, sublicensed, altered, stored for subsequent use or otherwise used in whole or in part in any manner without the prior written consent of McKinney Avenue Capital Copyright 2005 © McKinney Avenue Capital All rights reserved.

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