| 6/30/2008 |
Atlas Advisors reports its 2nd quarter results for the INNERI Capital Growth FundFor the quarter ending June 30, 2008 the INNERI Capital Growth Fund generated its first loss of - 0.66% versus the DJII, which lost - 7.4% the S&P 500 falling -3.2% and the NASQAQ nudging up +0.06% for the quarter. The credit crunch that we have discussed previously has gotten crunchier with all banks stocks brokerage or real estate related investments taking it on the chin. Last quarter we witnessed a run on the nations 5th largest investment bank Bear Stearns this quarter we are seeing investors run from Fannie And Freddie Mac the two largest mortgage originators in this country. To put this in perspective Bear Stearns required 30 Billion dollars, Fannie and Freddie might need something like 600 Billion dollars. We are talking huge sums of money to support the system and prevent a complete and total market collapse. However, a collapse in confidence continues to manifest itself in the markets inability to maintain any rally and a constant sell off in all things financial. We will continue to steer clear of anything related to or neededing financing. In addition we will remain in the defensive posture that we undertook last quarter until the dust settles in the financial markets at large. Even though our paradigm is to invest in emerging growth companies for the long term, which has served us well in the past, it is prudent at this time to play defense as opposed to offence. The name of the game is to preserve capital and live to fight another day. The bear market is upon us and the INNERI CGF is positioned accordingly. We look forward to continuing our unparalleled success with additional gains for our investors in the coming quarters and years ahead. Interesting quote:
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