WHY TISCH

Process & Performance

Types of Investments

- Bond Portfolios
- Stock Portfolios
- Mutual Fund Portfolios

In the News

eDelivery

Stock Portfolios

Core Equity Stock Portfolio is focused on capital appreciation and income. The portfolio normally invests in 40 +/- stocks selected based on our proprietary value strategy and allocated based on expected earnings and in proportions similar to the sector allocation of the S&P 500 index. Holdings are typically large and well-known companies. Risk is similar to the S&P 500.

Top

Opportunity Stock Portfolio is focused on capital appreciation. The portfolio normally invests in approximately 25 small- and mid-cap stocks selected on the basis of our proprietary value strategy. U.S. and foreign stocks, as well as ETFs, are utilized. Sector allocation and risks are similar to the S&P 500.

Top

Hedged Stock Portfolio is intended to provide equity market exposure with limited downside risk. The portfolio utilizes a Collar strategy (buy Puts and sell Calls) to insure the portfolio against unacceptable losses. A typical portfolio assures that losses over a two-year period will not exceed 8%, while gains would be limited to 22%.

Top

LIMITATIONS OF PERFORMANCE INFORMATION
Assuming The Highest Level of Management Fees and Trading Expenses (As of 9/30/07)

Although every client owns a unique portfolio that is specifically designed for his or her needs, we use model portfolios as a template for managing client portfolios. All of the returns shown above have been earned by our template portfolios, with the exception of the Hedged Portfolio whose returns are based on back-testing after deduction of all fees and expenses. The three mutual fund models are invested in mutual funds that meet our selection criteria, and are weighted in accordance with our proprietary investment methodology. Returns are calculated based on compounded, time-weighted daily returns. Model and S&P 500 returns reflect the reinvestment of dividends. Actual client portfolios of a similar style objective experienced returns which varied from that shown, and therefore, this information should be considered hypothetical. Benchmarks are approved by each client and are included in their personal Investment Policy Statement. All model performance figures have been adjusted to reflect maximum applicable Tisch management fees, trading expenses, and all mutual fund fees and costs. The performance shown above was earned during a period of unusual volatility. Investment performance is not guaranteed. Past performance may not be a good predictor of future performance. The value of an investment will fluctuate over time and could be worth more or less than its present value. The accuracy of the return calculation through 9/30/07 has been reviewed and confirmed by Yeo & Yeo, CPAs. Copyright © 2007. This document is subject to the copyright laws of the United States in its entirety and may not be copied or given to any person or entity without the express written permission of Tisch Investment Advisory Incorporated and will be returned upon request.