Just a quick note to let you know where we are with our nine themes.
Theme 1: (Short Banks)...Currently Long FAZ. 2009 Return = +83.4%
Theme 2: (Short Oil to $25 then Long)...Currently Long SCO. 2009 Return = +19.8%
Theme 3: (Short Tech)...Currently Long REW. 2009 Return = -3.5%
Theme 4: (Long Gold)...Holding in cash, awaiting re-entry. 2009 Return = +10.9%
Theme 5: (Short Real Estate)...Holding in cash, awaiting re-entry. 2009 Return = +36.8%
Theme 6: (Short China)...Holding in cash, awaiting re-entry. 2009 Return = +31.2%
Theme 7: (Short Europe)...Currently Long EFU. 2009 Return = +20.0%
Theme 8: (Short Retail)...Currently Long SCC. 2009 Return = +10.3%
Theme 9: (Short Toyota)...Currently Long TMSK.X. 2009 Return = -17.8%
Total Portfolio Performance = +21.3%
