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ECM Stock Advisor Strategy Model (hypothetical)

May 21, 2007 to May 21, 2008 (rolling one year)

This chart illustrates the performance of the ECM Stock Advisor strategy for the period shown. The light blue line is the S&P500 index including dividends. The dark blue line is the ECM Stock Advisor performance. No hypothetical management fee has been deducted from the managed strategy. The chart period is from 5/21/2007 to 5/21/2008 (rolling one year).

The results shown here are hypothetical and are intended to give a general approximation of what might have happened had an investor used the underlying strategy in a real account, in this case the ECM Stock Advisor Strategy. The graph is taken from the model account at FolioAdvisors.com. Although the model is used in actual trading it does not constitute an actual account. Actual account performance will vary due to trading costs, account size, time/date of execution and other factors. The graph does not reflect the effect of management fees or other fees. Actual performance will vary depending on underlying management and custodial fees, the time the client begain the straegy, and other factors. The chart above does not represent a real account but a model account from which real accounts were managed. Ensign Capital Management is not an investment advisor. This and other ECM strategies are only available through Garrett Capital, Inc., a Registered Investment Advisor. Ensign Capital does not offer investment advice.