Asset Custodian:
H & L Capital Management ("HLCM") is registered investment adviser with clients' asset domiciled at a brokerage firm independent of HLCM. HLCM receives no compensation form said brokerage firm. HLCM as the investment adviser, is fully responsible for the management of the account.
Market Risks:
Theare are risks involved with investing, including possible loss of principal. Please carefully consider each portfolio's investment objectives, risk factors, tax liabilities and turn over ratio before investing.
Performance:
Performacne may differ (lower or higher) due to the entry date of account, and additional fundign or withdraw made from time to time. Past performance does not guarantee of future performance and our performance report has NOT been audited by third parties.
Please note:
 Results are presented in US dollars, pre-tax and net of transaction fees;
Individual account performance over any specified time period is defined as total return;
Total return is computed utilizitng a simple method (Total account value/initial value);
Actual performance are computed before management fees; and
Client's return will be reduced by management fees any agreed expenses.
NASDAQ Composite Index:
Measures all NASDAQ domestic and international
based common type stocks listed on the NASDAQ Market. With over 3,000 companies, it is one of the most widely followed and quoted major market indices
Dow Jones Industrial (DJIA):
DJIA is a price weighted index rather than market capitalization weighted. Their compeonent weightings are tehrefore affected only by changes in the stocks' prices, in contracts with other indicess' weightings that are affected by both price changes and changes in the number of shares oustading.
Account entry date:
Subject to the portfolio manager's discretion, but is usually two quarters ahead of the quarter in which the initial funding date occurred so as to ensure account's performance is measured accurately within the composite.
Account may be excluded from a composite if:
The acount has restriction or prohibition;
The accounts fall below the minimum account size; and
HLCM does nto have full discretionay authority to make investment decisions
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