Second quarter performance was weak in April and May because some closing offered stoploss recommendations were not honored. The steep market decline in these months caused many stocks to gap or close well below the stops. To correct this, we increased our risk control efforts.
Past performance is no guarantee of future results or profits.
1 Performance data begins June, 1993. These results are unaudited. The return on investment is computed on a time-weighted rate of return basis and includes dividends. 3 Meets Association for Investment Management and Research Performance Presentation Standards. 5 New recommendations in 1993 consisted of 14 stock and 14 option trades.