Table 2. Newsletter Performance Over 27 Years*
Telephone Number	Newsletter	6/30/1980 to 6/30/2007
		Annual Gain (%)	Risk-Adj Performance**	Risk Level***
877/817-4394	The Prudent Speculator	19.0	0.15	9.96
800/763-8639	NoLoad Fund X	15.3	0.19	4.39
800/634-3583	The Value Line Investment Survey	14.6	0.17	4.58
800/942-4278	The Chartist	12.5	0.12	5.29
800/233-5922	Dow Theory Forecasts	11.2	0.13	3.83
800/852-1641	Standard & Poor's Outlook	10.1	0.11	3.45
	Growth Stock Outlook	9.4	0.15	2.05
800/950-8765	Doug Fabian's Successful Investing	9.2	0.1	3.31
800/845-8259	The Dines Letter	8.7	0.07	7.85
605/341-1971	Growth Fund Guide	8.2	0.07	3.53
011-506-271-2293	The International Harry Schultz Letter	7.8	0.06	7.01
	The Ruff Times	7.0	0.05	7.44
800/634-3583	The Value Line Special Situations Service	6.6	0.05	7.98
Benchmarks
	T-Bill Portfolio	5.8	0	0.25
	DJ Wilshire 500 Value-Weighted Tot Ret Index	12.9	0.15	4.31
	MSCI EAFE Index (Total Return)	12.8	0.14	4.72
	Shearson Lehman Treasury Index (Total Return)	8.4	0.14	1.58
	Gold Bullion	-0.0	-0.08	4.46
*All newsletters for which the HFD has performance data over 27 years. ** As measured by the Sharpe Ratio; this is not an actual return, but rather shows the return for each unit of risk. ***As measured by the volatility of returns. Source: The Hulbert Financial Digest.