A Message From The President

Alpha seeks to create innovative investment products that reduce risk without sacrificing long-term returns which are superior to the market.

We believe that the stock market is not random. Market returns statistically aggregate around short-term and long-term cycles, which can be identified and exploited.

Chief among these cycles is the four-year presidential cycle, which has produced consistent regularities in stock market returns for over 80 years. Our Election Cycle Portfolio is designed to profit from the predictable effect that the behavior of the political class has upon the distribution of returns in the stock market.

Alpha also believes that the stock market is inefficient. Economic developments create reactions in the Wall Street crowd which are consistently overdone both in their optimistic phases and in their inevitable pessimistic retraction.

Far from being a rational calculating machine, we see the market as an emotional arena where the full range of greed and fear unfolds around an underlying reality of fair market value. These emotional swings create pockets of opportunity to calmer, wiser heads. Therefore, we believe that there are master investors who can, have, and will continue to beat the market due to their special insights into their investment specialties. Our Masters Portfolios program seeks to identify these superior investors and blend them together creatively for the benefit of our clients.

Investors seeking diversification combined with risk management should consider combining the discipline of the Election Cycle Portfolio and its underlying philosophy with the Masters Portfolios. Alpha's Multi-Strategy Portfolios offer three distinct combinations of risk and return for conservative investors as well as for investors comfortable with higher market risk.

If you have any questions regarding our company, our programs, or your suitability to our investment philosophy, please call me to discuss your situation. I welcome your inquiry.

Jerry Minton, Ph.D.
President