| Table 1. Investment Newsletters Over a Quarter Century | ||||
| Newsletter performance from 6/30/80 to 6/30/2005, ranked by risk-adjusted performance | ||||
| Phone Number | Newsletter | Avg Annual Gain (%) |
Risk-Adj Performance: Sharpe Ratio* |
Risk: Avg Monthly Variability** (%) |
| 800/763-8639 | NoLoad Fund*X | 14.9 | 0.17 | 4.5 |
| 800/634-3583 | The Value Line Investment Survey | 15.1 | 0.17 | 4.72 |
| 877/817-4394 | The Prudent Speculator | 19 | 0.15 | 10.3 |
| 301/654-5205 | Growth Stock Outlook | 9.7 | 0.15 | 2.12 |
| 800/942-4278 | The Chartist | 12.3 | 0.12 | 5.34 |
| 800/233-5922 | Dow Theory Forecasts | 10.9 | 0.12 | 3.97 |
| 800/852-1641 | The Outlook | 10.1 | 0.11 | 3.56 |
| 800/950-9262 | Doug Fabian's Successful Investing | 9.5 | 0.1 | 3.42 |
| 800/634-3583 | The Value Line Special Situations Service | 8.1 | 0.06 | 8.17 |
| 605/341-1971 | Growth Fund Guide | 7.3 | 0.05 | 3.5 |
| 800/845-8259 | The Dines Letter | 6.3 | 0.04 | 7.86 |
| 011 506 271 2293 | The International Harry Schultz Letter | 4.7 | 0.02 | 6.84 |
| 877/665-6818 | The Ruff Times | 4.3 | 0.02 | 7.31 |
| Benchmarks | ||||
| T-Bill Portfolio | 5.9 | 0 | 0.25 | |
| Wilshire 5000 Index (value-weighted total return) | 12.8 | 0.14 | 4.45 | |
| MSCI EAFE Index (total return) | 11.9 | 0.12 | 4.84 | |
| Shearson Lehman Treasury Index (total return) | 9 | 0.16 | 1.61 | |
| Gold Bullion | -1.5 | -0.11 | 4.53 | |
|
*As measured by the Sharpe Ratio, a measure of performance per month per unit of risk; higher numbers are preferable.
**As measured by the standard deviation of monthly returns; lower numbers are preferable. Source: Hulbert Financial Digest. |
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