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Thanks for your note. The Rule Breaker is a freely provided public portfolio that manages no one's money but our own. We committed from the very first day in 1994 to letting you know what we were doing, why we were doing it, ahead of time, and to track the results and learn together. Fortunately (since it's our own real money), it has performed well over the long haul. Unfortunately, as you point out, it did very poorly in 2000. (We were down 4% in 2001, which wasn't too shabby if you check the market indices.)

What you say is certainly quite true -- if someone were mimicking our potfolio starting in 2000, they'd be quite disappointed by now. Indeed, any purchaser of the Nasdaq 100 index fund (the QQQ) would be down a very similar amount, and would be equally disappointed. And there are some investors out there who began investing right at the beginning of 2000 -- just as there were some investors who began investing in early 1973. Fortunately, investment careers are not measured over 2-year periods -- we'll soon be closing out our 8th year of managing this portfolio online. For anyone who is disenchanted with the effort, they are certainly free to invest other ways -- Lord knows, there are many investment approaches on offer in the world at large. And Rule Breaker is an approach that is not suitable for most investors anyway, beyond perhaps 2 or 3 stocks (in a 15-stock portfolio).

Finally, we believe it is a Foolish and good thing to share one's own ideas, when they're superior. Part of the value of these discussion boards is being able to hear contributions from people across America. We'd probably all benefit from hearing some of your favorite stocks right now, if you'd like to contribute.

Fool on,

David G.
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