The 2005 Silver Presidential Portfolio

Max Ansbacher	Eric Rosenbery
Disclosure Document	Disclosure Document

Introducing The Silver Presidential Porfolio

With a smaller investment, the Silver Portfolio still allows investors to capitalize on commodity markets as well as virtually every move, up down, and sideways, in the stock market. Each advisor functions with a unique proprietary trading system, totally different from and independent of each other.

On a standalone basis, each advisor possesses the necessary credentials and performance numbers. In combination, we believe their performance subscribes to Modern Portfolio Theory. which savvy investors have long relied on in trying to obtain the highest returns with the lowest level of risk. Modern Portfolio Theory espouses that risk in any investment can be reduced and performance increased by holding a number of uncorrelated investments in different asset classes which do not move in lockstep with one another. There is risk of loss with each manager and using multiple managers does not limit the likelihood of such loss.

By examining each advisor's disclosure document, you'll find their performance statistics not only uncorrelated with the stock market but also uncorrelated with each other! You will also note that each advisor offers a unique, trading approach. In fact, some were up when others were down in the same month. However, the combined losses and gains for the most part exceeded the losses which could lead to reducing volatility when combining the advisors together!

We believe the goal of investing is to achieve maximum returns with the least amount of volatility. The Silver Presidential Portfolio potentially can achieve this goal with maximum efficiency!

The Portfolio Process

The wisdom of diversification has long been espoused by money managers and financial planners alike. Investors today, particularly in a volatile environment for stocks, have become highly receptive to investments that are non-correlated with stocks and that can potentially increase the performance and reduce the risk in their overall investment portfolios. An investor's need for diversification is underscored by the 20% to over 50% drops in some stocks, that at times can make many managed futures programs look calm by comparison.

Stocks and commodities are both useful asset classes, each having its own merit. However, as numerous studies point out, stocks and commodities work much better when combined together in an overall portfolio. One prominent study illustrates how efficiently allocated portfolios consisting of several combinations of managed futures, bonds, stock, and treasury bills consistently lower the standard deviation for a given return.

With respect to Harvard University's huge endowment fund. Its President and Chief Executive Officer, Jack Meyer, said,

"Commodities offer protection against the ups and downs of stocks and bonds. They're the most diversifying asset in the portfolio . . . The benefits of diversification are indisputable. Diversification rules. It's powerful and our portfolio is a good deal less risky than the S&P 500 [with futures]."

It's no wonder managed futures is one of the fastest growing investments today!

Portfolio Snapshot

The most important factors affecting the makeup of any portfolio, we believe, are in finding trading advisors who demonstrate impressive credentials, long-term experience, and bona fide performance records, and are accessible to the public in terms of affordability. This is a task easier said than done, but one we strongly believe has been accomplished with the Presidential Portfolio.

The following is the minimum investment for each advisor:

Conclusion

Each of the advisor's credentials and performance records stands on its own merit. Each alone offers what we believe to be an extremely attractive investment. In combination, the Presidential Portfolio advisors represent a potent triumvirate of talent that would otherwise be difficult to find and should not be taken for granted! Our discussions with numerous investors have led us to conclude that most investors unfortunately do not have an investment strategy to help protect their portfolios from or capitalize on volatile and downward-biased markets. This was sorely evident in 2000, when many stocks suffered substantial losses, but yet, all the presidential advisors produce profitable returns.

The Presidential Portfolio advisors' trading approach is not only uncorrelated to stocks, but each advisor has the ability to capitalize on virtually any market condition. Finally, the advisors we offer you can prove to be an integral, indispensable part of your investment goals by adding profound diversification while at the same time potentially helping to protect and increase performance in your portfolio, regardless of the market's direction!

Volatility, the nemesis of many traders and trend following systems, is what the advisors' systems thrive on! Whether the stock market rises or falls, the Presidential Portfolio provides you the potential to perform.

Whatever amount of risk capital a suitable investor chooses to invest, in our opinion, he or she will have an honest, realistic opportunity to decisively outperform an investment in the stock market. Whatever amount you choose to invest, we believe it is very important that it should be in proper proportion to an individual's investment portfolio in order to make a meaninglul impact. Depending on the individual's investment temperament and financial position, we recommend 10% to 40% of a securities portfolio be diversified in managed futures.