2007 Performance Charts - Sherman Strategy

2007 Performance Charts	2000	2001	2002	2003	2004	2005	2006	2008	2009

The chart below shows the Shermanator for the year 2007, followed in order by charts for *The Sherman Strategy's* Long/Cash Low-Activity portfolio, the Long/Short Low-Activity portfolio, and finally the S&P 500 Cash Index. Each chart is plotted in alternating green and red, signifying periods of Long positions (green) and Short/Cash positions (red) as dictated by the rules for interpreting the Shermanator. Horizontal dashed lines on the Shermanator chart denote the important Shermanator levels of 10 and 30 (and, during Bear Markets, the Shermanator level of 20). Finally, the percent return for the year is noted at the right edge of each of the plots.

2007 Shermanator


2007 Long/Cash Low-Activity Portfolio: +11.9%


2007 Long/Short Low-Activity Portfolio: +12.9%


2007 S&P 500 Cash Index (unmanaged): +3.5%

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.

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