| | Value Focus Port Performance | | From 2003 | VF Port | S&P 500 | | Total Return | + 182% | + 41% | | Annualized* | + 14.4% | + 4.8% |
| | *Annualized is not exactly IRR of Total Return because of a cash deposit. Total Return is accurate: goes up to deposit and then after deposit so cash is not counted as return, of course! |
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