Common Stock Expected Returns
The table below shows the actual yearly performance of portfolios based on our
proprietary expected risk premium ratings*.
| 6-Month Ending |
Above Average |
Average |
Below Average |
| 06/30/2005 |
7.2% |
-0.5% |
-15.2% |
| Year Ending |
Above Average |
Average |
Below Average |
| 12/31/2004 |
17.3% |
17.8% |
20.1% |
| 12/31/2003 |
66.4% |
52.2% |
69.2% |
| 12/31/2002 |
6.8% |
-14.4% |
-38.1% |
| 12/31/2001 |
27.5% |
16.2% |
0.6% |
| 12/31/2000 |
7.6% |
4.8% |
-31.5% |
| 12/31/1999 |
80.1% |
15.3% |
9.5% |
| 12/31/1998 |
20.7% |
5.4% |
-18.4% |
| 12/31/1997 |
36.6% |
29.4% |
-3.6% |
| 12/31/1996 |
19.1% |
18.3% |
9.1% |
* The portfolios are equally-weighted and rebalanced monthly. Transaction costs
are not considered.
Understanding each column
Expected Risk Return
Calculated E.R. using sum of the exposure to every factor multiplied by its
payoff coefficient
- Value can be negative or positive; no min./max. value
- Represents forecast one-month return premium relative to risk-free rate
| Ticker |
Company Name |
Sector |
Industry |
Exp. Risk
Premium |
| CWTR |
Coldwater Creek |
Cons Discr |
Internet Catalog |
+3.697* |
| MESA |
Mesa Air Group |
Industrial |
Airlines |
-4.343* |
* Sample as of 06/30/04
|