Results Of the EWJ (JAPAN MODEL)

Japan has been in the doldrums for two decades. If you invested $1MM in the EWJ ETF in July 2002 it would be up to $1.34MM today. On the other hand our timeing model would be worth $3.598MM. The worst year for the model occurred in 2006 down 7.81% when the underlying ETF was up 5%. However in 2008 when EWJ was down 26.95% the model was up 35.17%. The model has 71% winning trades and is considerably less volatile. Overall the Japan Model outperforms the underlier overwhelmingly in the last ten year period. Enclosed find the results. For 2011 the underlier was down 16.5% but the model was up 4.09%. This year the underlier is out paceing the model. This model uses almost ten years of end of day data and so appears fairly robust.