Briefly Noted

Features
The Individual Investor's 2008 Exchange-Traded Fund Guide
Our annual guide this year features over 700 exchange-traded funds. Included is a compete listing of all existing stock and fixed-income exchange-traded funds, plus information on how they work and what you need to know about investing in them.

Hot Links
Web Sites for Exchange-Traded Funds
Where to get up-to-date market and trading information on exchange-traded funds, as well as how to find prospectuses and other fund reports on-line.

Offbeat Offerings
Offbeat Offerings: Exchange-Traded Notes
An investor reference for products that are not your typical offerings. This issue's focus is on exchange-traded notes--a new, but risky, structured product that provides an alternative way to invest in the commodities and currency markets.

Stock Screens
The Philip Fisher Approach to Screening Common Stocks for Uncommon Profits
Philip Fisher was one of the first money managers to focus on qualitative factors. But he was first and foremost a growth stock investor, and he provided enough detail to establish some basic quantitative screens. A look at AAII's Philip Fisher screen, which seeks to highlight stocks with good growth potential.

AAII Model Portfolios
Results Not Yet Final, But So Far, Election-Year Returns Have Yet to Appear
The Model Shadow Stock Portfolio has moved ahead of the S&P 500 year-to-date, but is still behind small-cap stocks, which are down "only" 3.8% year to date. Our quarterly review includes a list of changes to the portfolio over the last quarter, a complete listing of the holdings, and the rules that govern the portfolio.

Portfolio Strategies
The Core Approach to Building an Effective ETF Portfolio
As investment products increase in number and complexity, many individuals are searching for an approach that keeps it simple and low-cost. Exchange-traded funds (ETFs) offer a useful starting point, and using the core index portfolio approach, you can build effective portfolios ranging from the basic to the complex--all at a low cost.

First Cut
The First Cut: Momentum Stocks With Positive Earnings Surprises
A starting point for investors. This issue's focus is on finding companies with positive earnings surprises over the last quarter, coupled with above-average relative price strength.

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

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