California Private Investment Corp. (dba CPIC International or “CPIC”) is an investment advisory firm registered under the Investment Advisors’ Act of 1940. CPIC manages portfolios using carefully selected “no-load” mutual funds for individuals, trusts, corporations and retirement plans. All factual information contained in this newsletter is derived from sources which CPIC believes to be reliable, but CPIC cannot guarantee complete accuracy. Any charts, graphs, or formulas contained herein are for the purposes of illustration and are not intended, by themselves, to make investment decisions. Past performance is no guarantee of future investment results. All account types will experience volatility, so CPIC’s methodology is not appropriate for short-term investing.