Back to Basics: How to Make Money in the Current Investment Climate

Slide 1: Intelligent Investment Management
Slide 2: Inflation over Time
Slide 3: Inflation - 1952-2002
Slide 4: Inverse Inflation - 1952-2002
Slide 5: Nominal Mortgage Rate
Slide 6: Inflation/Bonds Relationship
Slide 7: Real Mortgage Rate 1952-2002
Slide 8: Real After Tax Mortgage Rate 1952-2002
Slide 9: Nominal Treasury Bill Rate 1952-2002
Slide 10:Real Treasury Bill Rate 1952-2002
Slide 11:Real After Tax Treasury Bill Rate 1952-2002
Slide 12:Nominal Long Term Government Bond Rate
Slide 13:Real Long Term Government Bond Rate
Slide 14:Real After Tax Long Term Government Bond Rate
Slide 15:The Game was over in bonds
Slide 16:Dow Jones Industrial Average 1952-2002
Slide 17:The Investment Climate Drives Stocks and Bonds
Slide 18:How do you define risk?
Slide 19:Trailing Average & Total Return S&P 500 1952-2002
Slide 20:Trailing Average & Total Return L. T. Government Bonds
Slide 21:Ford Investors Price to Value Ratio
Slide 22:Ford's PVA vs. Dow Jones Industrial Average
Slide 23:Ford's Price to Value Ratio vs. Bonds.
Slide 24:PVA vs. Adjusted PVA
Slide 25:Adjusted PVA vs. Dow Jones Industrial Average
Slide:26:Stock, Bonds, Bills and Inflation Ibbotson's & Associates
Slide 27:Stock, Bonds, Bills After Taxes and Inflation Ibbotson's & Associates
Slide 28:Muhlenkamp & Company Average Returns 1977-3rd Qtr 2002 Chart Form
Slide 29:Muhlenkamp & Company Average Returns 1977-3rd Qtr 2002 Graphic
Slide:30:Available Returns
Slide 31:NASDAQ vs S&P 1995-Nov 2002
Slide 33:Disclaimer