hcr. 80 tires were coming apart and killing people. All of
this is be . )J11ing hCl.l.cr known . When' it is ,combined with the fast-rising Chinese
export prices, China's l:,Trowth is being thrown Into doubt.
Source: Adrian Van Eck, Van Eck America-China Hotline, July 11, 2007,
www.VanEckTillman.com
Visit our Web :lite at www.wallstreeidigest.com
-12-
Case 8:11-cv-00516-MSS-EAJ
Document 126-1 Filed 11/21/12 Page 14 of 17 PagelD 3623
C.3,~W,.U:..1.1£.)l:oms 1R- M SS-E-A,J-Cl.Q.t;WJ.llfiJ l ~-.:)..:j l --rt----r.::llH{:J.--~1 (jlUI-l2-P-ayfH.~(-}f-4f6--Pf1JHI b'-y.~+/"t.:j---,
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WALL STREET'S MOST WIDELY READ INVESTMENT AND FINANCIAL SERVICE.
-13-
Case 8:11-cv-00516-MSS-EAJ
Document 126-1 Filed 11121/12 Page 15 of 17 PagelD 3624
GilSO B:1 'I -c;v 00" 16-tvl SS-E AJ
Document 114-77
I
Filed 10/23/12 Pag e 14 of 16 P:.lliQ.!p 2780
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Charts courtesy: Ulww,stockcharts.com
WALL STREET'S MOST WlDELY READ INVESTMENT AND FINANCIAL SERVlCE,
-14-
Case 8:11-cv-00516-MSS-EAJ Document 126-1 Filed 11121112 Page 16 of 17 PagelD 3625
mJ1l'1:MSS-E7\.J [Jocumel 11 'I '[ip-/- rile 110723TfT Page 'Ib of
ll HH"J
I
'I!:, Paqe lD TrW
____
THE WALL STREET DIGEST
1~ "l l ' n
I
August 2007
INVESTMENT SUMMARY
[Th Bottom -Line - What To Do Now l
e
Stay fully invested in our recommendaUons summariied on page 16, Allocate up
to 75 percent of your assets to the global/international investments. As local
currencies rise against the dollar, the falling dollar will enhance your profits from
global/international investments. I do not recommend owning gold investm.ents.
You would thell be at the mercy of the central bankers, who
regularly sell gold reserves to keep the rising price of gold
from exposing their inflationary monetary policies.
Keep in mind that record global liquidity ($5.24 trillion) is the driving force behind
record global growth and rising profits. Meanwhile, Japan is financing the IPOs,
leveraged buy-outs (LOOs), mergers & acquisitions (M&A), and the private equity
purchases with loans at 0,5 percent.
Europe is just beginning to raise interest rates because
of inflation.
China's manufacturing cost structure is rising. Net result? China will soon be a
net exporter of inflation to the U.S, An Am ric:an manufacturing bom11 is coming.
The Fed is maintaining the Fed funds ill' en_sl. r-ate at 5.25 percent. The housing
industry and sub-prime loan foreclosure pn:>blems beg the Fed for a u t in the Fed
funds rate.
However, the falling dollar begs the Fed for an increase
in the Fed funds rate 10 support the dollar.
What can the Fed do? Nothing! Fed fun ds wLll stay at 5.25 percen t. If China were
to suffer R stoc.l< market crash or a llnanctal criSiS, the Fed wo uld probably Ieeep
Fed funds at 5.25 percent and DOCld th e U,S. bankJng system with liquidity,
During the cdsis, a flight to quality into U.S . Trea.sufy bi:U. , no tes and bonds
would be bullish for the dollar.
Stay fully invested! The Greatest Global Boom of All Time
is gaining more fans,
.
"The greatest economic boom ever," U.S. Treasury Secretary Hank Paulson
declared in a recent interview with Fortune Magazine, Cisco's John Chambers
seconds the notion that "this is the strongest global trend" of his career. "It is
something we have never seen before."
TElEl'HONE HOTLINE
'fhe TEJ.EPHONE HOTLINE NUMBER Is 94J-9S4- R942. Callihe Hotlin< or visil om Websile <)l www... all~l ... cldl~ ... I.~OIH/hollin~.phll Cor mothl
''Pd.tw end Buy/SeU recommelldallons on sptt I" Slocks . The Hotline is npd.!. d r:ve ry Tuesday ~.d Fri~~y by 6: DO pm. EST. h~eru~ tlfJdile, OOCUl
whonwtnhe Dow Indu.mw Avtrage closes 200poirns Ln e~h.er direC1ion 111' sinSLo I:rl!ding session.
i'fil>""\V.,1i tll','1 1l11:,';1(1::;~~:;:)lijl1EP~5[,) If pl)l)llih;tll"o'~h
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-15-
Case 8:11-cv-00516-MSS-EAJ
Document 126-1 Filed 11/21112 Page 17 of 17 PagelD 3626
Filed 10/23/12 Page 16 of 16 PagelD 2782
, Case 8:11-cv-00516-MSS-EAJ Document 114-77
~
_~
Fffiff1
I TIlE WALl, S'l llE.E1' DIGEST
~/fm[r- -
August 2007
WSD RECOMMENDED STOCKS
PRICE
HATA
pcp
NVTL
CTB
NYEC
AAPL
1M
N'1IiLOS Holdittgs COlpor01Lon
FlomlU:ntlusmrs, Inc
Pelini COfjJrJlUl io\'l
Nl.llion -Qi!'ltell Y.are·o., h\c
WOClom Roiining. Inc.
NTI.S
FIX
PCR
NOV
WNR
WSD RECOMMENDED
S1:A:M
BUY
BUY
BUY
BUY
BUY
BUY
BUY
MENDED
~lE~llli.!1
2,91
55.54
97.20
17,75
23.79
34.32
122,30
25.90
29.23
62.78
107.75
64,25
09-27 -06
11·15-06
02-21-07
03·26-07
05-09·07
05-09-07
06-06-07
06-06-07
06-18-07
06-18-07
602-742-5300
352·27-759-101
503-417 -4800
858-320-SBOO
419-423-1321
952-829-9217
408-996-1010
540-946-3500
713-849-9911
50B-628-2000
713-346-7500
915-775-3300
CCBEF.OB
l'v1ICC
NYc (,0lfJ0'l'fjlI0 11
App~ J
£l.J.mlli
SYMBOl,
k OM l'ANY
Clearly C!\nlidi= BI.'V(Jm~es
Milhc:oll'\ jnl') Cellula'!', SA
PiccisiollCtlSrpo:tls COY}JOY tlnn
Navate l WiTrless. Inc .
(;oop'c~ Tiro & .Rubbor Co
~
~
;.c.:Q~I..:
07~11-07
07-11-07
BUY
BUY
BUY
BUY
BUY
ETFs
.11m;
Sn:\.DQI..
EXCHANGE-TRADED FUND
WisdomTne Europe Smllll,Cllp Dividend
Wisdoml'rte Pacific High· Yil!lding Equity
WisdomTne International Small-Cap
WisdomTree Pacinc Ex-Japan 1'0101 Dividend
Wisdoml'rte ]nl'l. Mid-Clip Dividend
WisdomTneTop 100 Int'l Dividend
WisdomTree lnt'l Basic Materials
iShares MSCJ Emerging Markets Index
iShores MSCI Singapore Index
iShares S&P Lall" America 40 Index
iSh ares MSCI Malaysia Index
iShares MSCI Mexico Index
IShares MSCI Brazil Index
PowelShms Dynamic Oil & Gas Services
WSD
~
RECOMMENDED
RECOMMENPED
~
DFE
DNH
DLS
DND
'66.62
BUY
BUY
BUY
BUY
BUY
BUY
BUY
BUY
BUY
EWM
EWW
EWZ
01·22-07
01·22-07
01·22-07
04.23-07
04-23-07
11·20-06
07·09-07
02·20-07
02·20-07
10·23-06
12-13-06
04-09-07
07-09-07
?Xl
07-09-07
35,31
DIM
DOO
DBN
EEM
EWS
ILF
63.55
64.42
72.15
71.10
60.11
38.81
117.10
J2.29
]52.20
9.22
56.79
64.99
BUY
BUY
BUY
BUY
BUY
RECOMMENDED MUTUAL FUNDS
FIDELITY SECTOR FUND STRATEQX. FIDELITY 800-544-8888
FUND NAME
SYM.!!ID.
DATE
RECOMMENDED
Fidelity Latin America
Fidelity Emerging Markets
Fidelity Southeast Asia
Fidelity International Small-Cap
Fidelity Canada
Fidulity Selecl Tedu\Ology'
f icle l.ity Select T.elecom municl\lloIlS
l'idnliry LO'/Claged CO:mptuI Stock
Y
Fjde uty Select Energy $nMt:e,)
FLATX
FEMKX
FSEAX
FSCOX
FICDX
12-04-06
12·04-06
12-04-06
12-13-06
07·11-07
FSPTX
FSTCX
FLVCX
FSESX
FNARX
FWRLX
FNARX
10-23-06
02-05-07
05-14-07
07-09-07
07-09-07
07-11-07
07-11-07
Fi('k l ~ Scl(:cI Mblcri~l$
FideJity Se.lcc' vViTo\eS'.;
Fidelity SeleC N {lltlTItI He~o\Uc es
l
PRoFUNDS INDEX & SECTOR MUTUAL FUND
STRATEGy':
PROFUNDS 888-776-3637
DATE
FUND NAME
ProFunds Ultra Emerg. Mkts.
ProFunds Ultra International
UUPIX
ProFunds
ProFunds
ProFunds
ProFunds
ProFunds
?roFunds
ProFunds
UMPIX
UOPIX
Uhra Mid-Cap
Uhra OTC
UhraB ull
Uhro. Telecom .
Uhra Basic Moo 'Is
Uhra Mobile
Uhra Eq~ , Dist. Svcs.
REcoMMlfNDED
SVMBo.L
UNPIX
ULPIX
TCPIX
BMPIX
WCPIX
OEPIX
200% of Emerg. MUs. ~O ADR Index
200% orInt'l. MSCI EAFE Index
200% of S&P 400 Mid-Gap Index
200% of Nasdaq 100 Index
200% of S&P 500 Index
150% ofDJ U.S, Technology IndllX
150% ofDJ U ,So Bosu: Mtll'Ls Index
150% of DJ Mobile Telecom . Index
150% oiDJ Oil Services Index
-16-
11-29-06
12-04-06
08-07-06
10-23-06
05-16-07
03·26-07
04-16-07
05-23-07
07-11-07
Case 8:11-cv-OOS16-MSS-EAJ
Document 126-2 Filed 11121/12 Page 1 of 7 PagelD 3627
EXHIBIT 2
Case 8:11-cv-00516-MSS-EAJ
Document 126-2 Filed 11/21112 Page 2 of 7 PagelD 3628
CARNEGIE ASSET MANAGEMENT" INC.
------_..- - THE BEST TRACK RECORD I'VE EVER SEEN
Dear Investor,
Wall Street'g best and brightest began to leave "The Street" in 1995. By 1997,
the exodus was 11 stampede. The top perfonning money managers from prestigious
brokerage house3 and the mutua t fund industry are Ieaving well paying jobs to form
their own private investment finna. "
Traders" from Merrill Lynch and GoMman Sachs who had produced over 50% of
their firms' entire profit for the year were increasingly unhappy. They were well paid,
but only a fraction of what they knew they were worth. By the end of 1998, the exodus
from "The Street" had the net effect of BubstantiaJly reducing brokerage company profits and seriously affected the performance of the Dation's 11,000 mutual funds. Over
98% of the mutual funds underperformed the market in 1998.
Wall Street's 108s ofitB brig~test people is producing impreBsive investment
opporturuties for the private investor for the first time. Before lhe exodus from Wan
Street began, only the partners and officerB of the large brokerage houoe.1i e~oyed the
llnUllual profits shown below.
After 39 yea.rs, Neil Moody left a well paying job "On 'fhe Street" to form an
88sociation with Arthur Nadel, who combined years of investing experience and computer programming research to develop and perfect his "black box" trading program.
Nl\~i1l"
ll8..8
January
February
March
April
May
June
July
August
September
October
November
December
1.9
10.7
9.1
7.7
4.3
~
B&P fHHl
0.5
7.0
NnQQI
>to
a&£...ruJJ2
January
8.6
4.1
Februury
2.8
-:'1.3
4.4
March
3.4
3.n
2.4
April
3.9
May
~
23.7%
3.0
7.6
2_6
3A
-2.7
4.0
-1.1
-15.8
7.7
8.1
6.0
.-5.A
5.9
--liJl
90.9%
3.8.
.":-z'V;
26.7%
5.3
(J.O%
("MaTUlgeT7t£nl fee!), illcl!ntiul! ("e:1 (wd Inlt/il/(/
fees have nol ueen dcdllcled (rom }l~rfDrm(J)It;'~
fitJure8. Pa&/ per{orm
0
800-966-7693
~
NDL-110-000722
Case 8:11-cv-00516-MSS-EAJ
Document 126-2 Filed 11/21/12 Page 3 of 7 PagelD 3629
!CARNE GlE AsSET MAN i\G EM £NT, INc.
In 1998 Nadel's investment program was up 90.9%, compared tQ only 26.7% for
the S&P 500 Index. In August of 1998, the maJ'ket suffered a mini crash. The S&P 500
Index WIlS down 15.8% in the month of Auguat, but' Arlhur Nadel's computerized investment program produced ~ 7.6% gain. In May 1999, the sap 500 Index was down 2.5%,
but Nadel produced a 5% gain_ Through May 31, 1999, Nadel invBstors are enjoying
above average returns: 23.7% va. 6.0% fot the S&P 500.
My curioBity about Nadel's computerized trading program eventually lead to a
due diligence viBit to the offices of Moody & Nadel. Understandably, I did not learn
the varioua mathematical formulaa in Nadel's "black box" computer program. What I
did learn is very important for the individual investor and truly exciting for me. After
26 years of reviewing the track records of over 11,000 mutual funds, 6,000 money
managers and 5,800 hedge funda, Nadel's computerized trading/investment program
has produced the best trllck record I have ever seen.
His proprietary program has consistently produced a profit month niter month
in both up and down markets without using maJ'gln or hot new isaues. Nadel arrivea
at his office a~ 6:30 a.m., three hours before the market opena. He enters data from
the previous day's market action into his computer which will produce the
trading/investment instructions for the day. Three large screen televisions are positioned around the office, but the talking heads on CNBC are muted.. Neil Moody, the
frrm.'s president and chief operating officer does not allow daily Wall Street "npise" to
confuse or influence the reliable discipline of Nadel's computer program.
Moody & Nadel offer private investment programs for pension plana and
wealthy individuals, which are organized and administered' by Moody. Not aurpri8ingl),
they do not advertise. Each investment program is oet up a8 a limited partnership
which is limited LQ 99 investors. Each program may include up to 35 non-accredited
investors. AJ1 accredited investor has a net worth of $1 million or an annual income of
at least $200,000 each yellr over the paot 2 years. An investmeut program is ·almost
always open to accredited investorB. Non-accredited inveators may ha.ve to wait a
month Or so for the next available program . Limited partnerships of thls type include
a management fee and an incentive fee. Moody'e investment progrD.J1lB, however, are
unique because they do not charge an incentive fee until investors have received the
equivalent return of the S&P 500.
Minimum investment is $100,000. The inVeBt.mcnt should be viewed as long
term. However, investors may redeem all or a portion of hialher investment at the end of
any calender quarter. Moody & Nadel offer private progrB.IIlB thAt are av.ailable to qualified inveSUlr9 and only through the fum's offering materials. If you have questions or
would like to review the firm'~ offering sum.mary, call LuRee Campbell at (800) 966-7693,
Sincerely.
Donald H. Rowe
NDL-110-000721
Case 8:11-cv-00516-MSS-EAJ Document 126-2 Filed 11/21/12 Page 4 of 7 PagelD 3630
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N DL-097 -000010
Case 8:11-cv-00516-MSS-EAJ
Document 126-2 Filed 11/21/12 Page 5 of 7 PagelD 3631
~GIE
ASSET MANAGEMENT,
One Sarasota Tower
Suite 602
INC.
Sa rasota, Flo rida 34236
Did Your Money Manager Return 55% in 2000
and 19.8% in 2001?
A.f'Wr Inot ye.ors IHurkot uiu.nat.or, woulel you be happy with an 19.8% raturn in 2001 Or
a 55.1% return on yom of)uity invostments for the year 20001 Would you be happy with a
90.7% return in 1998 and 81.8% i Xl 1999?
TheBe are the actual reBulta achieved by fin ~ffecti.ve team ofmnnngera in So.nlBot.u,
Florida. After 39 years on Wall Street, Neil Moody l-~rt tho: St."I'etl-~ 'Lo fonn an lla8ociet;lon
with Arthur Nadel and his group to manage equity funda, The Nadel Group hucl e.ojoyed
unusual success with private investment g,·oupa. tooting II technical t1"udmg syatcm Llini
interacts with fundamentals t;{) produce TCOuJto that conniotentJy Oi.lL-parfoTLn t..b.~ roark~t
averagea.
My curioBity about Nudal'o computorized t.rading program eventually led to a dUG
dilig'onco visit to thn offie 0 of NEldal & Moody, Understandably, I diil not learn the vanolla
mathornn.t:ical fOl"Ullllos in Nadol'n "'blnck box computer program.
ft
What I did le1ll'D 18 very im,porLunt for the inclividu.al investor. After 26 years of
T4lviolYWg ilio track rf.'!wrd,j} of OVGr 11,000 mutual [units, 6 ,000 money managers and 5 ,800
l)()dgo (imdB, Nndcl'£J computori:r.cd investment program.hag produced the best track
record nndmo9(, conB1Ilu"nt rolu,rnJi I hnva ever seen.
His proVOElWryProgrnm, combb:JtJd willi 1:I<:rcwoiug for et.oclt fUlldol'llcntuln, haa
produced a. profit monlh (lO:cr month il uoLh up and down mJlxkow. The
highly tachnicnl program used by tho group i(l j)f'Opri et~ ry, 1m t 1 WIl8 gi yOU tln opportunity
t.o see it in action during u duo dWgooca viui t to their office.
~n:aiotanUy
A large group of complllor lTIoJliLorH dill)llny lnm·k.ot duul tontinuouBlyj roviowing TU1d
digesting current 1Juu'Jc~t Illc)TovioU1l dnlu. Iw:metliate
n8WBwire fla.ahea nro inL())"miJ1glml with mil d "tuJkinu beod.n" 0 eNnC.Equity positiollS
are adjwted,long and ahort, by means ofinBtant-response trading progra.rn.s.
oro
Nndol & MOI>uy
1" I rivM~ jnv(~ lI.rn nt. pTO[p"Gm.Ji for ponejon p lano o.[I(l wealt.hy
individualu, whjch (lxU orenoi7:(~d nnd erhni.niElt~,r{:!d by Moouy. Not. aurpriaingly, tJu~y do
not. Cldvort:il-t'C fees GNJ trading fees /wYe /WI been rkducled from pciformanu figuru. ·Compari.so/U an! monJh 10
monJh. Tow are y-+
~00 2
No do 1- ~o o d.Y
Did Your Money Manager Re.turn
21.7% in 2002
19.8% in 2001
55.1% in 2000
j
.J
After lruIt years market. disWlter (S&P 500 ·23 .3%), would y O\.l Lu hl, [l!lY with j\ :l1. 7\
%return in 2002, a 19.8% nlrurn in 2001 (S&P GOO -18%), ,or II. 55.J % r~L w'" li n your oquity
mVE!Stnli!nts for the yaar2000 (8&P 600 -JO,1 %)? Woulr! you hchuppy wi Ul a 90.7% rut.lI rn in
1998 and B7.8% in 19997
Thoso are trIo actunl TCSult.a othiovcd by an ofJ'e d.ivB tea m ofmo.nllgcr" hI Bun)lJot.a.
ll'!o'riu ll. Aftt'!r 3!l ~Ilt}l o n Woll S l rcn~ N U Moody 10ft. thl.! Slreet to rurD) un It:luocintion with
A.I ~llllr Nod(:llllltl hiu (,rou p to rrlllnn~o r. I (HclltlD,r n ill very bnlJorblllt for tho individual in veataI'_ After 26 years of
revi(;wirl ~ L trnckrecords orovor 11,000 mutunJ funds, 6,000 money mll1lsgen; and 5,800
ha
lVH!t:o fllndli, Node1'9 computeJ"izcu invl"llltment progTatD has producild the bellt track.
!"f),c ord Il.nd mos t cOllsir.tOllt rehlrJlIJ 1 hnvo cv~r seeo.
His propl'io t'l ry (ll 'Ob'T (l ID, l:!Jlnbi l1ocl wilh 5c'!"o e ni o lJ {or atQck fundamentalB, has
catllli!'tllnlly pl'orlll-c.ll CI [JI'() EH TIlUnLb nflm' m onth in both up and down murkets. The
highly technicru pl'orp'om I1sau by 1.110 r;rou Il is pl·oprlotnry. but I wos given IU1 opportunity
to sua it in n-el ion d\l.rinr~ 1\ cllJC dlli(!mlCO v'ilJi t to thou Qffice.
A Jorge group ortl\J1Upll l or l.lloniloro dicllllllY nlurkot dR til COil tinuolUlly, rOlliowing" ul'ld
digeoting currellt tIlorlc· {. []) )v em e ntlJ nnd comparing UlOln to pr~vious daw . Immediate
newswiro !la s hes ur Lillo' )- 1Il incl nd wi lh In uLed "wlldng hend!),' on CNBC. Equit.y pooi/;lon!l
are adjusted, long and Ghort, by m eans of insU3n t-response trading programs.
Nnd e l &. Mood y o rfoT PI" iY~lt(j il~VL·llI.J11 n t: pror,TlIlU!I for pCrtl:ioll p illm) Oll U wOI.d lhy
OIw \ni ?,(~ t1 l\ l1<1 ncuwol!;t.c I'I!d by Muody. Not Jslll'P l'i IJillg l>,. L (!.y do not
h
:'If. '101ti':H!_ .m ilch ir)'lC5 /'lJlCl n t prlIgr u nliu OIJ!. \rD U~l 11 limited jJlIl l. l llll uh i p " !I idl IS Ihull. lto
only 99 investors. '·.!.\. _
d "Urm: m.t iILCJ1J.:!.!I\1Jy" nr,r:Cll li l \7 IJnl,Y.l!f{ ;,,',t1·V!_lU[\y,eIlL'9.!:lJ ~
in clivid1.w.l Ii, which lin)
An nccredited invostor- hIlS a oot worth of$l million or Oil. annual income of at least
$200,000 each yeaT over th~ post 2 years_ An inveatmcmt program )8 almost nlways opan
to nccredito<1 iovest(.I/UIII"'JlL·,· illhnrJurr. &rr::U1Cf . /'flll,h"
'
;rJl''' of mOil''''>, p <:Ir,IfI"(JIIU br";" ...,,, ,,/r:tJllI(JI)roJIIllrlli' •
of(J1J FCi!J 1m,) J~lPC(l'C_I·. f>1U1 p"'J"nlJ~lc~ "110 guarankr: off IlI'"
!'
re..rwu.
'Na.
.
NDl-088~(fci2i25
Case 8:11-cv-00516-MSS-EAJ
05/1~/QJ
rmJ
lG:12 PAX
Document 126-3 Filed 11/21112 Page 5 of 5 PagelD 3638
g .., _ "64
2001
Ftmd A.~
January
February
March
April
May
June
July
August
1.71
1.09
2.78
1.83
2.53
1.41
1.27
1.08
September
-0.04
October
Novembor
December
1060
1.93
BH7
TllIl I1ALL STRIIIIT D1eBST
S&P
Fund A"'c ElmdB** 500
S&P
:EmlliB'*C, GOO
3..18
-9.30 .
-6.38
.January
February
Murch
April
7.67
0.56
-2.31
-1.30
·6.36
4.'16
1.18
1.99
3.32
\ .
4 .09
3.B2
au
1.17
1.35
AUg\lBt
1.09
1.32·
1.61
September
October
November
Decembar
1.743.17
4 .30
!L1Q
-13.03%
3.18
2.99
3.18
3.05
2.59
1.35
3.08
3.25
2.87
4.145.28
.QJi.fi
-1.57
-2.04-
3.61
-6.10
-0.93
-7.22
-7.B8
0.44
-11.03
8.71
5.64-5.98
*21.59% 11041.96% ·23,34%
tCcmPOI /."JIII "r~ IIlfJ /IIh I34.05%
1.12
0 .95
May
Juno
-8.20
1.83
1.98
1.fi2
rn 004
N"del-l!foodY
2002
_1-._0- _ _
~19.780/0
Indu
... -t
"11M C:O
mPOUIIJa/ mon,hly I'dUnl.l. ··NLI lIf 01/
p~n.lo!J• .w;.1,1I1i"c prrfim' IIJ1lr:,:/t.o: / (w 2f111 / 111111 lUll1. PIU I p c:r[O
m11Jnce i..I no gl.1o ClrriJliulhaJ D r~ dij[Ur:fllfrol" ,ht
Fund uruJ it '-nc//lJ~dJor IlIuJ(r(l1fnra purposu_
.
Limited ptu-b1arahj pll of f.1~ s '/;ypn ilHdud ,! 1l 1l1ll lJ Il rpmll.:IIL feu unJ U.ll Ul '(mLi'/u fe!l' Minimum
Th e m v f.\ lmc,nl. llhould ho VH:wc-d Il.':i l Ull~J Lonu . H OVlI! Vet. 1nvestors may
redeem nll or 1\ porlio)') uf)u t\lh ot' iTlv~,'ltwcnt ot t.llr) onci uf Il ny CU1Itl\ UCH' cIIIJrrlm-. Nadel & Moody
offer privnlo p . OCrL\J1l1J t h-r1t n:rc ILvu~ll\b I El to qu n l.ititld jl1llfllJt.om 1l J1(1 unly LhTIl II({ h the firm's
offering lnnlorill l: .
OV I))' rJu) PlIuL Ga Inonbh ll rl r I ti ll ueilll' IIIIHIl y, N fld ul'u MlIllllll /I'HUI l Gl' II p hali uoe ll down
only t,wico un d I1 n ~ OI1 C:U. Dmjll l-: (.\Hl 5 fJllIO J.1r~r lllll, t.h .) oc:.l&.P 500 TtHl n..,< har; \)I jl)ll dOWI\ ~'l3 months
1 111: 1-)(' rpl. W IIi /u pUl; ~ p(l rr()l' rrUI I\~ I~ ill no UllIHIIlIl!l\l oL' [ \I hll'U l' UUlll t:t:, lc cnp i n minc1lhul; It
CO Il))iu te l 1t otll1 11111 L
'durn {If!?.WJl wi ll (/ I)lIbll! yHIlI' I nlJ l ll lj' 1I\'\!ry l h flltJ YllI.t nJ .
If you have queations ur wrJ~l kl ,1jkc to roviow the firm'o offering sllmmary, cBtI (800) 966 ..7693,
or you may e-mail your n nm . Hdd l'IW:J lind t.elflphone number to info@camegiellsso~. com and we
will mail the coropnny's i ufr))·l lll1l.-i Ql t lil t to yQ~I .
.
IDveoOoOtlt I A $JDO,O
OQ,
Sinc.orely, ' )
QJ6:.-..
- >
Donald H. Rowe
Chairman
CamegioAsset Management
----1
IIl''j II ,: '·1J b.l n . 1': 1·: l' JJ .tW ':!:.I'l'
VAL.!. !-1'1'H
I' "
1-. 111 1/ 1
-
-
83)0 S o utJ.l'.uni:uni fuil. Suilc" 110. S •• IlSOI,. Fl. )42)8
Phone: So{}' 785·5050 • hx : 941·)64-84.47
www.w J lbl'O:-Cld i gt!.lLCOrn
NO
-088-0 0272 6