The High Frequency Strategy and the Growth Portfolio

The growth portfolio sits in cash and you can see there from around early 2008, all the way through to early to mid 2009, it sat there and cash. It wasn't until the end of 2008, early 2009, up the market had fallen 50%. And we've been sitting in cash the whole time that people realized, that was actually a pretty smart thing to do. But here's the interesting thing with our discussion on diversification. You can see that the high frequency strategy, even though it's a long only mean, reverse of strategy, performed exceptionally well in that type of environment. So this is a good example of sticking to two strategies and how one will benefit the other for whatever