disclaimer.txt

The information in this presentation is provided for information purposes only. It is not intended to be and does not
constitute financial advice or any other advice, is general in nature and not specific to you. Before using this
information to make an investment decision, you should seek the advice of a qualified and registered securities
professional and undertake your own due diligence. None of the information here is intended as investment advice,
as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any
security, Company, or fund. I am not responsible for any investment decision made by you. You are responsible for
your own investment research and investment decisions.

The information in this presentation is based on financial models, and trading signals are generated mathematically.
All of the signals, timing systems, and forecasts are the result of backtesting, and are therefore merely hypothetical.
Trading signals or forecasts used to produce our results were derived from equations which were developed through
hypothetical reasoning based on a variety of factors. Theoretical buy and sell methods were tested against the past
to prove the profitability of those methods in the past. Performance generated through back testing has many and
possibly serious limitations. I do not claim that the historical performance of the timing systems, signals or forecasts
will be indicative of future results. There will be substantial and possibly extreme dierences between historical
performance and future performance. Past performance is no guarantee of future performance. There is no
guarantee that out-of-sample performance will match that of prior in-sample performance. I provide absolutely no
guarantee that the trading signals, forecasts, opinions or analyses presented here are consistent, logical or free from
hindsight or other bias or that the data used to generate signals in the backtests was available to investors on the
dates for which theoretical signals were generated.