Briefly Noted

Getting Started
REITs--Real Estate Investment Trusts
A real estate investment trust (REIT) is a corporation or trust that purchases and manages income property and/or mortgage loans. Any investor looking to add real estate to a portfolio for diversification purposes may find REITs an attractive option. Find out the pros and cons of investing in REITs.

Features
What's in a Yield?
Understand the many meanings of yield for bond and fund investors.

Portfolio Strategies
Explaining the Value Tilt and Its Implications for Investors
Over the long run, returns on value stocks have exceeded returns on growth stocks. The raging debate in the financial community is: Why? And can investors actually profit from this value tilt? A look at the competing explanations and their implications for investors.

Offbeat Offerings
Offbeat Offerings: REITs
An investor reference for products that are not your typical offerings. This issue's focus is on real estate investment trusts (REITs).

Stock Screens
Strong Market Performance Powers First-Half 2007 Results
Most AAII stock screens are outperforming the broad market indexes. The Benjamin Graham Defensive Non-Utility screen is at the top of the first-half performance list, with a year-to-date gain of 35.4%. The O'Shaughnessy Tiny Titans screen tops the long-term list, with a cumulative gain of 3,290.9% since the start of 1998.

AAII Model Portfolios
A Choppy Ride Up for Market and Shadow Stock Portfolio
The market creeps gradually upward, as does the AAII Model Shadow Stock Portfolio. If the market continues at its current pace for the balance of the year, we will have the normal "year before the election" return of around 23%. On the bearish side, inflation is still a concern; on the bullish side, there now are a number of bearish analysts.

Hot Links
Real-Time Stock Data
Over the past two and a half years, real-time data has become much more prevalent--albeit, usually at additional cost.

First Cut
The First Cut: Top-Line Growth and Value
A starting point for investors. This issue's focus is on companies with strong and consistent sales growth that they are able to convert into above-average profits, and that remain attractively valued.

Departments
Briefly Noted
Current news items of interest to individual investors.

Departments
Letters to the Editor
Member questions and comments on recent AAII Journal articles.