Performance
of Managed Accounts During The
Market Upturn and Downturn periods of
1997 - 2003
Annualized Returns Gradual Decline Sharp
Decline
12-31-97 to 03-28-03 July 98 to Sep 98 9-7 to 9-21-01
Managed
Accounts: +8.04% +
.20% - 1.51%
S&P 500: -3.26
- 10.30 - 11.05
Dow Jones
Average: +.30 - 12.40
- 14.22
Nasdaq
Composite: -2.56 - 10.65 -
15.70
Russell
2000: -3.19 -
20.51 - 14.89
Performance is for
the composite accounts, and is calculated in accordance with the AIMR
Performance Presentation Standards.
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