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The major index returns for Q3 2008 are outlined below. Interestingly, the Russell 2000 was only down -1.74%, which compares favorably versus all other major U.S. indices and aggregate hedge fund performance based on the numbers we have been hearing.

Russell 2000 -1.74%
Comp -9.24%
DJIA -4.67%
S&P500 -9.23%

Daryl G. Jones
Managing Director