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Risk

We manage risk by constructing portfolios on a stock-by-stock basis.  Typically, the initial position size is between 1-3% of account assets with individual stocks no larger than 5% of assets.  In the event the stock loses 15% or gains 50%, we review it and regularly sell a 1/3.  We do not follow any index for the weighting of sectors – in the event we are overweight, it is because the companies in that sector all display great potential for growth and meet our criteria.