$1,000,000 invested on January 1, 2001, earning rates of return equal to the average of pure equity accounts at Byrne Asset Management, would by January 31, 2012 have grown to $1,829,821. The indicated compounded annual rate of return for this period was +5.60%.

$1,000,000 invested in the Vanguard 500 Index Fund, perhaps the most efficient manner one can purchase the S&P 500, for the same period would have grown to $1,214,576. The indicated compounded annual rate of return for this period was 1.77%.

Past performance is not necessarily indicative of future performance. Results for individual clients may vary. Results are not audited. Byrne Asset numbers reflect the addition of certain dividends and deduction of all fees. As one can not invest in an actual index, for comparative purposes we show returns and other statistics of the Vanguard 500 Index Fund, a mutual fund that very effectively tracks the performance of the Standard & Poor's 500 Index.