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Investment Summary-

Despite a weak economy and stock market, Optivest investors experienced a surprisingly good second quarter.  All of our hedge fund investments were up, our Sector Logic stock portfolios were up 8% and our real estate investments performed as expected.  The only disappointment has been our Schwab Bond investments which remain at discounted levels; however, they continue to pay uninterrupted cash flow.

US Economy
What a wild ride the first three months of the year has been! The sub prime mortgage problem, compounded by highly leveraged investment vehicles (CDOs), caused a bona fide banking panic culminating in the mid March government sponsored bail out of Bear Stearns, steep drops in the stock markets and the floating of $200 billion of Federal Funds to help weak financial institutions meet minimum capital requirements.