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Transaction Details

Company: S&P BRIC 40
Yahoo Beta:0.00
Industry:Emerging Market ETF

Company Description:  The fund attempts to mimic an index of large cap companies in the Brazilian, Russian, Indian, and Chinese markets. The largest holdings are in energy and financial firms.

Purchase Date:16 Jan 2008 Sale Date:10 Dec 2008
Purchase Price:$29.36 Sale Price:$15.60
  --Split Adjusted:$29.36  --Split Adjusted:$15.60
Shares Purchased:150 Shares Sold:150
  --Split Adjusted:150  --Split Adjusted:150
Transaction Fee:$112.78 Transaction Fee:$12.97
Price Range (6 Months Prior):    Price Range (6 Months After):    
High$35.94 High$0.00
Date31 Oct 2007 Date01 Jan 1996
Low$21.75 Low$0.00
Date16 Aug 2007 Date01 Jan 1996
S&P (Purchase Date):$1,377.75 S&P (Sale Date):$904.60

Timing:  We bought near the middle of the recent trading range.
Reason:  The US economy appears headed for a recession. In addition, we lack exposure to emerging markets. Brazil's economy appears robust, and high energy prices make Russia attractive. China and India have both been experiencing rapid growth.

Reason:  Given the global economic environment, we do not believe this is a good time to be investing in emerging markets. The political problems in India and the recent downgrade in Russian debt are of particular concern.

S&P Gain: -34.34 % Annualized Gain: -37.38%
Stock Gain: -46.88 % Annualized Gain: -50.54%

Net Holding Return ($): $-2,190.20
Net Holding Return (%): -48.49 %