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LEGAL & DISCLAIMER:
The Sherman Sheet is published daily and distributed via the internet by W.E. Sherman & Co. LLC, 11981 Meadow Run Ct., Maryland Heights, MO 63043.
The Sherman Sheet is intended for professional use only and not for client use, and professionals should use it for informational purposes only.
It is not intended as investment advice, nor as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or
sponsorship of any company, security or fund.
The Sherman Sheet may be used by subscribers in the management of their direct client accounts. It may not be used for 3rd-party management
(management of accounts whose advisor-of-record is not the subscriber). Please contact Bill Sherman to make arrangements
for the use of The Sherman Sheet in such 3rd-party management circumstances.
The Shermanator and the US Intermediate-Term Model were both introduced in early 2004. The construction of the Shermanator has not
changed since introduction. However, the Intermediate-Term Model has been improved numerous times over the years, as recently as mid-year 2008.
These changes include improvements in the interpretation of the Shermanator, as well as improvements in portfolio construction. Therefore,
even though the Shermanator itself has been calculated in real time since its introduction, please consider all of the returns shown in the
Intermediate-Term Model tables and charts to be hypothetical, as they are the result of applying the current Intermediate-Term Model to all
prior years. The Sherman Calendar Effects Model has been implemented in real-time since April 1, 2001, and has not changed since that time.
The Global ETF Model, and the Bull/Bear Longer-Term Model, were both introduced in June, 2009. Returns shown for these two models prior to
June 2009 are hypothetical. The Sherman Policy Portfolios were introduced in May, 2010. Please consider all returns to be hypothetical.
The contents of The Sherman Sheet are based on data sources believed to be reliable, but no representation or warranty, expressed or implied
is made as to their accuracy, completeness or correctness. We assume no responsibility for typographical errors or other inaccuracies in the
content, and occasional errors may occur. Therefore, The Sherman Sheet is provided "AS IS" without any warranty of any kind. Past results
are not indicative of future results.
The contents of The Sherman Sheet are confidential to paid subscribers only. The unauthorized use, release, reproduction or redistribution
of The Sherman Sheet, in whole or in part, by photocopying, email, entry into a data retrieval system, or by any other means is strictly prohibited.
Entire contents © Copyright 2010. All rights reserved.
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