Disclaimer And Disclosures

As a model or hypothetical portfolio, the Equity and Mutual Fund Portfolios shown throughout this web site do not represent the trading strategies, holdings or performance of actual accounts. Readers should be aware that model portfolios have some intrinsic limitations and should not be used as the sole basis in forming any given investor's investment decision or strategy.

• The Equity and Mutual Fund Portfolios are not designed with a view to accommodating any specific needs, financial circumstances or investment objectives. The individual stock or mutual fund selections or the general strategies used in managing the portfolios shown throughout this web site may not be suitable for any given investor.
• Because trades in the portfolios shown throughout this web site do not represent actual trading, they do not reflect the impact of significant market and economic factors such as lack of liquidity or significant corporate announcements.
• The performance of the portfolios shown throughout this web site and their ability to spread risk across a number of investments is, in large measure, a function of the assumed asset size of the portfolios. Actual accounts with smaller assets may not be able to achieve both diversification and performance comparable to that attained by the portfolios shown throughout this web site.
• The performance of the model equity portfolios shown throughout this web site are shown after the deduction of a 1/2% commission per trade based on the dollar value of the trade. The performance of the model mutual fund portfolios shown throughout this web site are based upon no commissions per trade. Commissions paid by each investor may vary widely, and an investor paying a higher commission will not be able to achieve performance comparable to that attained by the portfolios shown throughout this web site.