The "Digging" Report Q1 2001

March 30, 2001

My Personal "Mutual Fund" OTC:RASXX

Note: OTC means Over The Counter. The ticker symbol is fictitious; please don't ask your broker to buy it. In the rare event that such a ticker does exist please inform me at once, in order to change it. I don't want to mislead anyone.

Another rally attempt that ends in a nasty bloodbath. Although the fund's quarterly performance is better than that of all US major indexes, there is little reason for celebration. The overall picture is still bleak, there is no sign of a market bottom yet. The economy continues its travel south in spite of the US Federal Reserve actions. Equities continue to slide and fixed-income is yielding less and less...

Performance as of 03/30/2001

NAV: 15.94

* Annualized compound return

The 1, 3, 5 and 10 year periods are counted backwards starting from the report date

Performance is before personal taxes. Maintenance and research costs (my personal time doing the accounting, trading and web publishing; time spent on the web and investment books) are not taken into consideration.

Freedometer ratio: 2.63%

Scale: 0-10 Worthless slave; 11-25 Rank and file; 26-40 Lowest level privileged; 41-75 Candidate for temporal release; 76-99 Almost free on parole; 100+ § A free person!

§ Unless you can't make ends meet with your present salary.

Quarter/Year to date

Since Inception

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