The "Digging" Report Q4 2001

December 31, 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.

With a quarterly gain of 4.62%, the Fund ended 2001 with a positive note. The quarterly chart shows the dragging effect that the cash portion of the Fund has on its performance. However, it was that same allocation the one responsible for holding the Fund while the U.S. major indexes tanked. The yearly chart demonstrate that point. If December's behavior is of any indication, 2002 will start on shaky grounds. While the Dow continued its advance and only lost a thin fraction of early December's peak, the S&P500 is losing more ground and the Nasdaq composite is currently in a downtrend. After a significant decline, the U.S. markets will remain highly volatile for the time being. The economy is not out of the woods yet and the time and strength of the recovery is still anybody's guess. The Enron case is not helping either.

Performance as of 12/31/2001

NAV: 18.54

* 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: 3.42%

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 to date

Year to date

Since Inception

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