IEA Alpha

Numerous studies have shown that even professional stock pickers, or those
who actively manage mutual funds, are unable to outperform their benchmarks
over the long term. One such study suggests that only about 2.5% of active
managers are able to do so.

So why not follow this 2.5%!!! For aggressive investors, we have developed our
Alpha Strategies which attempts to do exactly this, own the stocks these select
few successful managers own.

To accomplish this we research and track the quarterly government filings of
some of the top institutional and hedge fund managers such as Buffett, Soros,
Paulson and many others you have probably never heard of.

In our Alpha Top 5 Strategy, we analyze the portfolio holdings of several top
managers to find the five most popular stocks owned among them. Each quarter
we buy and sell based upon these results.

Source Data: AlphaClone.

Disclaimer: Hypothetical performance results may have limitations described below. They are generally prepared with the benefit of hindsight, do not involve financial risk or reflect actual trading
by any account under actual market conditions and therefore do not reflect the impact that economic and market factors may have had on the advisor's investment decisions for that account. No
representation is made that IEA's performance would have been the same as such simulated had IEA been in existence during such a time. Another limitation is that the investment decisions
reflected in the simulated results cannot completely account for the impact of financial risk on the manner in which an account would have been managed, for example, the ability to withstand
losses or to adhere to a particular trading program in spite of trading losses are material points which can also affect actual trading risks. In fact, there are often sharp differences between
hypothetical results and actual record subsequently achieved. The simulated results do not take into account enhancements that may be made to the proprietary computer models over time.
There are numerous other factors related to the market in general, or the the implementation of any specific trading program which cannot be fully accounted for in preparation of hypothetical
simulated performance results and all of which can adversely effect actual trading results. All results are gross of trading fees, management fees and taxes.