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The outcome of next Tuesday’s election could easily set off a chain reaction of events in our economy … and perhaps worldwide.
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• Will the U.S. economy be able to grow enough to avoid a double-dip recession marked by deflation?
• Will Washington finally put the brakes on runaway spending … or will the Federal Reserve open the monetary spigots with another round of quantitative easing?
• And will this provide ANY relief for the consumers on Main Street … or simply result in another huge payoff for Wall Street investors?
Rampant uncertainty keeps volatility running high — and make no mistake — next week’s election could be a pivotal tipping point for financial markets, triggering even more sweeping moves both up and down in the months ahead.
Washington’s ability to control our economic outcome has been exhausted. They have no more tools in their toolbox to ignite economic activity and engineer the outcome they so desperately seek. As a result, we fully expect these broad rallies and declines — which have become a lasting feature of the stock market in recent years — to continue shaping our financial future. And the heightened volatility that results could affect every investment you hold in your portfolio.
To make money in a volatile market climate like this, it’s clear you can no longer count on a bull market alone to grow your wealth. Instead of waiting around for the next bull run, perhaps you need a strategy specifically designed to profit no matter which way the markets move.
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The Weiss Guide to Dynamic Investing!
If you’re unsure about which way markets could move next … or unclear about how to invest in today’s climate of uncertainty, then you’re not alone.
But what if I told you it may not matter which way markets move next?
What if you could harness the market’s volatility … the up and down swings … and potentially turn these shifting trends to your advantage?
What if you could make money when stocks sink and soar?
Many investors — not just professionals — view volatility as an opportunity. And for investors following the right kind of strategy, these markets can present a unique opportunity to make money.
Recently, my colleagues at Weiss Capital Management joined me for a special webinar briefing: The Secrets of Dynamic Investing.
In this special, online only event, we discussed the key reasons behind sharp swings in market direction and why they’ve become the norm. But more importantly, we revealed our Seven Rules for Dynamic Investing to help you navigate unstable markets.
And, we unveiled an actively-managed trading strategy that offers the potential to turn volatile markets into money-making opportunities: The Weiss Dynamic Strategy.
If you had been closely following each buy and sell signal from this strategy over the last five-plus years … you would have more than doubled your investment in the most turbulent markets since the Great Depression!
While this aggressive strategy may not be the right fit for everyone, in this investment briefing you could discover new ways to invest in challenging markets.
In today’s special edition of Money and Markets, we’re providing you with the firsthand insights and analysis we shared in this edited transcript of the Secrets of Dynamic Investing webinar, which first aired on September 15, 2010:
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The Secrets of Dynamic Investing:
With Sharon Daniels, Mike Burnick,
and John Breazeale
Sherri Daniels: It’s been three long years since the financial crisis began, yet we’re STILL locked in a volatile, emotionally-charged investment climate … with no end in sight! For investors, this can be terribly frustrating because wild swings make it difficult to earn consistent returns.
But in this briefing, we will show you why we believe markets will continue to be powerfully volatile — and tell you how to turn that volatility to your advantage by earning potential gains no matter the market’s trend.
Plus, we’ll share with you our Seven Rules of Dynamic Investing!
Rule #1: Stay Flexible and Look Beyond
Traditional Investing Approaches!
John Breazeale: Rule Number 1 is to always remain flexible with your portfolio and be willing to expand your horizons beyond the traditional investing approaches.
Sherri: In other words, don’t limit your choices to plain vanilla stock and bond strategies, or restrict yourself to a traditional buy and hold approach, but don’t completely abandon the markets either.
John: Exercise good judgment. If you can see with your own eyes that the market trend is changing — either for better or worse — then be willing to take advantage of these rapid shifts in market direction to earn potential profits along the way.
Mike Burnick: To put it bluntly, buy-and-hold simply has NOT worked in the last decade. And, it’s not going to work in the next, in our view! But at Weiss, we’ve been applying proactive and defensive tools to our strategies for many years.
Sherri: And, we’ve found that one key to success is turning volatility to your advantage.
John: That’s easier said than done, but the bottom line is: Do not make decisions based on emotions, as many investors tend to do … that brings us to rule number two …
Rule #2: Follow a disciplined, rational and systematic approach in your investments, especially in turbulent markets.
Follow a disciplined, rational and systematic approach in your investments, especially in turbulent markets. Make more frequent moves with your portfolio when needed because sentiment can change on a dime and the market trend with it.
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The Weiss Guide to Dynamic Investing!
Mike: And above all, don’t act or react based on emotion or let it cloud your judgment.
Sherri: That’s easier said than done for most investors. But having this skill set has proven critical and will remain so if, as we believe, markets stay volatile for some time.
Mike: This up-and-down roller coaster we’re in right now has been in full swing for more than a decade! Stocks were down sharply from 2000 to 2003 … then back up for a few years … but down again sharply in 2007 and 2008.1
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Recently we witnessed the big rebound rally in 2009 … but that hasn’t lasted, just as we warned. During 2010, the stock market has rallied five months (February, March, April, July, and September) and sold off four months (January, May, June, and August) — we’ve essentially gone sideways, but there’s been no shortage of up and down extremes along the way.2
John: And guess what! Average investors typically bought stocks in the heat of euphoria when the market was surging higher … and sold them in cold panic when the markets were plunging.
Sherri: There’s a historic precedent for this …
John: Yes, but the precedent is NOT a recent one. If you want to use history as your guide, forget about the rise in the Dow Jones Industrials or the S&P 500 Index during the 1980s and ’90s. Instead, look at the 1930s and ’40s, or Japan more recently. This leads me to rule number three …
Rule #3: Expect overall market volatility to remain high in the years ahead, and adjust your investments accordingly.
Sherri: To earn more consistent returns in this environment, you may want to consider an active strategy that allows you to earn potential gains as markets fluctuate both up and down.
John: Let’s face it; we live today in a post-bubble world, which is totally different from the typical post-recession pattern in the US since World War II. It’s not just that the rules have changed … this is a whole NEW ballgame we’re facing.
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The Weiss Guide to Dynamic Investing!
Mike: To elaborate, history has shown time and time again that in the aftermath of any great financial crisis, the economy and financial markets rarely return to business as usual right away. Instead, the healing process takes time, and that time is usually measured in years, if not decades.
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During the 1930s and early ’40s, investors witnessed years of false starts and volatile swings in sentiment. There were many BIG moves in those years — both bull AND bear markets. But after all was said and done … after two long decades, these rallies still came up short! Like today, stocks went basically nowhere!
Sherri: But many people simply don’t want to believe that the Great Depression is relevant today.
John: Then just look at Japan right now!
Sherri: You’re referring to Japan’s lost decade!
John: No! Japan’s two lost decades! Its stock market has been bouncing around in a secular bear market for the past twenty years … with no end in sight.
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And just as in the US over the past decade, Japanese investors have been slaughtered. Over and over again, they were lured back into stocks with government programs and promises to make things right. And over and over again, those hopes were dashed and their portfolios trashed.
Sherri: And you’re saying that the US today appears to be following a VERY similar path as Japan?
John: … it is quite definitely, in my humble opinion … and I’m saying that US investors must find a way to cope with volatile market conditions.
Mike: If the US continues to follow the same path as Japan, we can expect several more years of this type of “meat grinder”, up-and-down market volatility. There could be many false starts and relapses.
Sherri: But John, you believe investors can look at this TWO ways … as both a threat … and as an opportunity.
John: Absolutely!
Mike: Based on our research at Weiss Capital Management, I have to agree that rather than being a doom-and-gloom outlook — this uncertainty presents plenty of profit opportunities as well.
For instance, if you add up all of the upswings over the years, the Nikkei Stock Index in Japan has managed to rack up over 434,000 cumulative rally points!
John: That spells opportunity for investors willing to be more aggressive in an effort to capture these frequent rallies, but it also requires a disciplined approach to buying and selling and the timing of those transactions.
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The Weiss Guide to Dynamic Investing!
Mike: And our markets indicate a similar pattern.
The Dow, for example, has managed to accumulate 130,000 rally points when you add them all up over the past 11 years.3 Even though it sits around 11,000 today, no higher than it was in 2000.
John: Not to mention all the points that have been accumulated on the downside too … which leads me to rule number four:
Rule #4: Use roller-coaster markets for trading
opportunities in BOTH directions.
Sherri: In other words, use big, sweeping market rallies for trading opportunities on the upside. And be ready to reverse course and use big, sweeping market declines for trading opportunities on the downside. What type of investment vehicle do you use?
John: ETFs. These securities are growing in popularity and for good reason. They are transparent, low cost, and they trade throughout the day, giving investors the flexibility they need to act fast when necessary.
And with the advent of inverse ETFs — we now have more flexibility than ever before to earn potential gains as markets advance OR decline.
Sherri: Using which ETFs specifically?
John: In the Weiss Dynamic Strategy we use just two. When we get a signal to go long the market, we buy the PowerShares QQQ Trust (Symbol – QQQQ), an ETF designed to track the Nasdaq-100 Index. And, when we get a signal to go short, we buy the ProShares Short QQQ ETF (Symbol – PSQ), an ETF designed to track the inverse performance of the Nasdaq-100 Index.
Mike: So to clarify, the Weiss Dynamic Strategy is essentially either long or effectively short the market at all times using one of these two ETFs. There’s no in between.
John: That’s exactly right.
Mike: That’s certainly a unique strategy, and it may be a perfect fit for the market conditions we expect going forward. Sherri mentioned big, sweeping market rallies and declines … and history clearly shows there are four typical stages of a secular bear market like we’re witnessing now.
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First comes a major bear market drop, usually triggered by a severe financial shock of some kind — that’s Stage One4 …
Sherri: The decline from 2007 to March 2009 fits that description to a “T” — the S&P was down minus 57 percent!
Mike: Correct. Stage Two is a sharp rally that recoups about half or more of the decline. This is typically a knee-jerk rebound triggered by massive government intervention.
Sherri: Again, almost exactly what happened last year!
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The Weiss Guide to Dynamic Investing!
Mike: Then comes Stage Three. Another steep correction, when markets usually drop about 25 percent. In this stage, investors begin to suspect that maybe the rally was not much more than smoke and mirrors. So far this year, we’ve been down about 15 percent from the April peak.
John: And the stage where most of the profit potential can be found, in my view, is what comes NEXT …
Mike: Stage Four. This is when investors finally recognize that the economy faces structural challenges that could take years to fix. It’s a broad trading range market that can persist for many years, perhaps the next five or six.
John: And this is the point where I personally feel I have the clearest vision of the top range and bottom range for the market, which leads me to …
Rule #5: Until further notice, consider Dow 11,000 to be the top of the market’s current range and Dow 7,000 to be the bottom range.
This is just to give you a general guideline. Don’t assume it will be exact or it will be permanent.
Sherri: This phase can be very tricky to navigate on your own, without the right strategy.
John: True, but even in a narrower trading range, the Weiss Dynamic Strategy still signals a number of trades both long and short. After all, the market has many fits and starts on varied economic news.
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Sherri: John, let’s go back and explain some of the technical tools and indicators used in the Weiss Dynamic Strategy.
John: The goal of the strategy is to identify changes in market trend and potentially capitalize on those changes. To do this, we put together our own unique combination of technical, price-based indicators and developed a proprietary set of trading rules for investing in both sides of the market — either long or short.
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The Weiss Guide to Dynamic Investing!
Mike: So … the core idea is to follow the market’s primary direction in the short term, whether it’s up or down …
John: Exactly, and the main indicator we use as a foundation for this strategy is based on the Directional Movement Index developed by J. Welles Wilder back in the 1970s. Wilder actually used this tool, along with others he developed, mostly to trade the commodities markets.5
The Directional Movement Index plots two lines: a positive directional movement indicator and a negative directional movement indicator. When the lines cross, a change in trend is likely — from bullish to bearish, or vice versa.
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Mike: And the magnitude of the move in these indicators can also tell you when a trend appears overbought or oversold, can’t it?
John: In theory, yes. Plus, we also have some other indicators we follow in Dynamic to enhance performance, like a critically important stop-and-reverse component to tell us when a trend may be reaching extremes and may be reversing direction.
Sherri: When Welles Wilder’s theories were first introduced over 30 years ago, it truly was ground breaking stuff.
John: No question. But his mathematical calculations are relatively straightforward. They not only form the basis of the Weiss Dynamic Strategy, but many technical charting and trading programs in use today are based on it. Instead of focusing on commodities as Wilder did though, we apply it to the stock market.
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Mike: The calculations themselves aren’t complex, but there are several steps that take time to explain and work through. We have included each step to compute the Directional Movement Index in a special report we’ve just published: The Weiss Guide to Dynamic Investing.
Sherri: Using this tool as part of the Dynamic Strategy leads me to the next Rule:
Rule #6: Grab gains and cut losses!
John: And this follows directly from everything we’ve said so far. Be willing to grab gains off the table sooner and also be willing to cut losses quickly to help preserve your assets.
Mike: That’s especially true when you’re betting on a declining market. Importantly, the inverse investments must be handled with extreme care. You’ve got to be willing to invest the time and effort required to closely monitor these positions, because many leveraged and inverse funds are not suitable as long-term holdings.
Sherri: No question. You must fully understand these limitations and the risks involved… and monitor them daily. Plus, if I may, I want to add a rule of my own:
Rule #7: Adapt to CURRENT market conditions using
history as a guide but NOT as a road map.
No matter what anyone tells you about what they’ve achieved historically — including us here today — always remember that the future IS bound to be different.
John: That’s a good way of saying that past performance is no guarantee of future results … and also of reminding our clients that they have to be flexible and adapt to ever changing market conditions.
Sherri: That’s right John, but it also leads to my next question: At Weiss Capital Management, you’ve followed these rules with the Dynamic Strategy, and you’ve done so with real money in real accounts going back a number of years. Mike will you share with our viewers a quick summary of the results we’ve witnessed firsthand?
[Important Note: The following performance data has been updated based on the latest available quarterly data available as of September 30, 2010.]
Mike: Certainly, the ACTUAL results for the Weiss Dynamic Strategy show the following results for the period April 30, 2005 through September 30, 2010 …
- A total cumulative return of 111.2% …
- Average gains of 14.8% annualized …
- All returns are NET of all fees and commissions!*
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Sherri: That’s a bit more than five years worth of actual performance, and these results are after all commissions and fees?
John: Correct, 111.2 percent net total return with real client money invested.
Mike: That’s over 14 percent per year, on average. By contrast, investors in the best performing broad US stock market index over this period, the Nasdaq-100, earned only 6.5 percent per year.6
John: That’s the goal of the Dynamic Strategy: To follow the market’s primary direction in the short term, whether it’s up or down.
Mike: What I believe is most impressive about the Weiss Dynamic Strategy track record is its ability to follow our seven rules and outperform even in the most difficult markets we’ve seen in decades.
You can see the results for yourself over the past three volatile years …
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In 2008, we were caught in the most devastating bear market since the 1930s … the Nasdaq-100 Index plunged 41.9 percent. Meanwhile, the Weiss Dynamic Strategy delivered a positive 20.7 percent total cumulative return for the year — during a crushing bear market!
Then, in 2009, the markets seemed to turn on a dime. We witnessed the biggest rebound rally also since the 1930s, with the Nasdaq-100 Index up over 50 percent …
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And the Weiss Dynamic Strategy also turned on a dime and grabbed MOST of those gains, with a 45.3 percent total return last year… by the way, that 45.3 percent return for Dynamic is AFTER subtracting all fees, expenses and trading commissions, while the index return doesn’t include those real-world costs.*
Sherri: And so far this year, we’ve had even MORE intense swings, with markets getting whipsawed up and down on a weekly basis …
Mike: Yes. Stocks plunged right out of the starting gates in January, hitting a low in February. Then, we witnessed a sizeable rally until April, followed by the “flash crash”, and yet another steep decline to the June lows. Since then, stocks moved higher again, but you can see how well Dynamic performed …
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[Important Note: The following performance data has been updated based on the latest available quarterly data available as of September 30, 2010.]
Mike: Despite these huge swings, stock markets overall have had a sluggish go of it. The Nasdaq-100 Index is up 7.40 percent through the end of September. Dynamic, by contrast, is UP 35.88 percent year-to-date through September.*
John: Not every change in trend. We’ve certainly missed a few. After all, no investment strategy … no matter how carefully designed … is perfect, and Dynamic is no exception — losses do happen and will in the future.
Sherri: Yes. It’s important to point out that, as with any investment strategy, there is always the potential for loss. At times, the trades just don’t go our way and draw downs do occur.
John: When that happens we can get whipsawed. Maybe several times in a row, resulting in some losses, before the market finally makes a big move UP or DOWN.
Sherri: You’re talking about risk.
Mike: Yes, but overall, the Weiss Dynamic Strategy’s average monthly volatility — as measured by the standard deviation of returns from one month to the next — is NOT much higher than the Nasdaq itself.** And yet, as we’ve seen, Dynamic’s returns over time have been much higher.
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John: That pretty much sums up this strategy. To produce these returns, I follow the market’s primary direction in the short term — not the medium or long term as many stock investors tend to do. And I follow it both up and down — seeking profits on both sides.
I do this for Weiss clients only. I don’t write a newsletter. I don’t issue signals via email or fax. I manage this strategy for Weiss Capital Management clients ONLY, with real money, in real time.
Sherri: Thank you very much, John. I’m glad you’ve drawn that distinction because I don’t want our viewers to confuse our service with those from our publishing affiliate, Weiss Research.
Weiss Capital Management is a registered investment adviser, managing money for individuals and institutions, with minimum accounts of $250,000 … which investors can put into this program, into our other, more conservative programs, or some combination.
Your money is kept in a separate individual account with our custodian and you can view your account online whenever you want. Your investments are customized to meet your individual needs. And you can leave the driving to us — we make all the buy and sell decisions for you and we place the orders too.
I hope you have an opportunity to take advantage of these secrets of dynamic investing with our one-on-one advice.
Editor’s Note: To learn more about the Weiss Dynamic Strategy, simply follow this link for more details. We’ll give you immediate online access to our special report: The Weiss Guide to Dynamic Investing, with more details about this innovative strategy, how it works, and everything you need to get started right away.
You’ll also receive a complete performance report updated through the end of the third quarter 2010 — more than five years of actual returns — PLUS, the latest quarterly commentary from our portfolio team!
Please understand, due to our suitability standards, not everyone who applies can be accepted into the Weiss Dynamic Strategy. Only 150 new client accounts will be accepted at this time — over one-third of those slots have already been filled just since we first aired our webinar. After contacting a Weiss financial advisor to determine suitability, new clients will be accepted on a first-come, first-approved basis only.
But if you join the Weiss Dynamic Strategy BEFORE October 31st — THIS SUNDAY — you’ll receive a special LIFETIME discount of 20 percent OFF the standard management fee.***
We’ll be glad to discuss the details with you one on one. So please go here to get your copy of The Weiss Guide to Dynamic Investing. Or, to contact a Weiss financial advisor right away, simply call: 800-814-3045.
Good investing,
Mike Burnick
Director of Research & Client Communications
Weiss Capital Management, Inc.
The Weiss Dynamic Strategy’s historical performance data quoted throughout the preceding edited transcript has been updated to reflect the program’s latest quarterly performance data available as of September 30, 2010. See complete program performance data and important disclosures below.
Weiss Capital Management is an SEC-Registered Investment Adviser. It is a separate but affiliated entity of Weiss Research, the publisher of Money and Markets. Both entities are owned by Weiss Group, LLC.
1 Bloomberg market data: 9/2/10
2 Ibid.
3 Ibid.
4 Guardian News, 8/10/09; Morgan Stanley Research, 8/10/09
5 Wilder, J-Welles: New Concepts in Technical Trading Systems, Trend Research, 1978
6 WCM data; Bloomberg market data — for complete details and full performance, please refer to Important Disclosures below.
* Assumes the reinvestment of dividends and capital gains in the program for the period from 4/30/2005 until 9/30/2010. The original inception date of the program and the start of performance is 7/8/2002. Please read important full program performance disclosures for the Weiss Dynamic Strategy.
** Standard deviation is applied to the annual rate of return of an investment, to measure the investment’s volatility, or “risk”. This calculation is for the period 4/30/2005 to 9/30/2010 on both data points. Data Source: Weiss Capital Management for the Weiss Dynamic Strategy. Bloomberg for the NASDAQ 100 Index.
*** New clients who apply during the special offer period (September 15, 2010–October 31, 2010) and are accepted into the Weiss Dynamic Strategy with the $250,000 initial new client investment will receive a special lifetime discount on the program’s annual management fee. The discounted fee will be 1.75% annually on assets under management in the strategy. The standard management fee for this strategy is 2.25% annually on assets under management for new clients entering this program after the charter membership period expires.
Important Disclosures
This Secrets of Dynamic Investing Webinar edited transcript has been a presentation of Weiss Capital Management, Inc. a SEC Registered Investment Adviser and a separate, but affiliated entity of Martin Weiss’ publishing company, Weiss Research — publisher of Money and Markets. Both companies are owned by Weiss Group, LLC, although managed independently.
The preceding edited transcript contains forward-looking statements regarding intent and belief with regard to the market, the economy and the benefit of a dynamic investment strategy. Readers are cautioned that such statements are opinions and actual results may differ materially from those statements.
All investments carry risk, this strategy is no exception. It is possible to lose money by investing in this strategy. Prior to investing, read our program-specific materials regarding risk, suitability and important disclosures along with the Firm’s ADV Part II.
The Weiss Dynamic Strategy Complete Performance
Performance comparisons between the Weiss Dynamic Strategy (the “Program”) and the “market” are based on reinvestment of dividends and capital gains in the Program and the NASDAQ 100 and S&P 500 indices for the period from 4/30/2005 until 9/30/2010. Program results take into account management fees and commissions (net return) while the indices do not. Not all clients in the Program achieved the types of results discussed.
The Nasdaq-100 and the S&P 500 indices assume the reinvestment of dividends and capital gains and exclude management fees, transaction costs and expenses. It is not possible to invest in an index. Index return data source: Bloomberg.
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Program inception was 7/8/02; however, there is a one-month lapse in performance reporting (3/31/05–4/30/05) due to lack of eligible accounts in the composite upon which to calculate performance. See full performance from inception until the temporary lapse below.
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All returns are based on a composite of actual client accounts. Individual client returns may vary, depending on, among other things: account opening date, contributions, withdrawals and fees. Actual fees may vary depending on, among other things, applicable fee schedule and portfolio size.
Net returns cited include actual management fees, commissions and other similar fees charged on transactions and reinvestment of dividends, income and capital gains. Gross returns cited exclude management fees and are net of actual commissions and other similar fees charged on transactions, and include dividends, income and capital gains.
INVESTMENT RISK
Past performance is not indicative of future returns and there are no guarantees that the Program will achieve its stated objectives. It is possible to lose money by investing in the Strategy.
Inverse ETFs are highly complex financial instruments that may be utilized in pursuit of the Program’s overall investment objectives. Due to the effects of compounding, their performance over long periods of time can differ significantly from their stated objectives. See the firm’s ADV Part II for more information on the use of inverse exchange traded funds. Please also read the prospectuses of the respective ETFs mentioned in this report for full disclosures and prior to investing.
SUITABILITY
The Weiss Dynamic Strategy is suitable for investors with an aggressive risk tolerance seeking long-term growth through speculation. Suitability of the Program for IRAs, 401(k)s and other retirement plans is at the discretion of the plan sponsor or fiduciary. The Program does not consider taxable consequences from the active trading used to meet the Program’s objectives. Please consult your tax advisor prior to investing in the strategy. Not all investors will qualify for participation in the Program due to strict suitability requirements. There are no guarantees that the program will be able to achieve its objectives.
BENCHMARK
The NASDAQ-100 Index comprises 100 of the largest domestic and international non-financial securities listed on the NASDAQ stock exchange based on market capitalization. This index assumes reinvestment of dividends and capital gains and excludes management fees, transactions costs and expenses. Because the investment vehicles used to achieve the objective of the Weiss Dynamic Strategy seek to replicate performance of the NASDAQ-100 Index or seek to correspond to the inverse (opposite) of the daily performance of the NASDAQ-100 Index, the NASDAQ-100 Index is believed to be an appropriate equity market index against which to compare the program’s performance for illustrative purposes. The program’s previous benchmark, the Hennessee Hedge Fund Opportunistic Index was changed to more closely resemble the long and the inverse performances of the NASDAQ 100 Index.
It is not possible to invest in an index. Index return data source: Bloomberg.
Other Important Disclosures
In addition to the management fee charged for participation in this actively traded Program, transaction costs are generated at an additional cost to the client. WCM does not receive any of these commission dollars. Because of the frequent trading, clients are encouraged to select the electronic delivery option with the custodian to qualify for discounted commission fees. See ADV Part II for more details.
September 15, 2010, the Program investment minimum increased to $250,000 from $50,000.
From October 2007 until September 2010, the Program was a non-marketed composite not available to the general public.
Prior to investing, read the Firm’s ADV Part II for more complete disclosures and information.
For month-by-month performance in the Dynamic Strategy over the past year, please contact Weiss Capital Management, at 800-814-3045. It is not our intention to state or imply in any manner that past results and profitability is an indication of future performance. All material presented is compiled from sources believed to be reliable. However, accuracy cannot be guaranteed.
