BullRider Trading System

The BullRider B/W Hedge Fund (symbol BRHF) attempts to outperform the S&P-500 index with significantly less volatility by using a Buy/Write strategy to hedge an equity portfolio. The inception date is 12/11/2008 at $100.00 per share. Actual performance to date, compared with the benchmark S&P-500 ETF SPY, is shown in the following table. This hedge fund is fully subscribed and is not open to new investors.

One-on-one mentoring available at no cost to interested investors who wish to duplicate this fund in their own account.

	BRHF	%G/L	S&P-500
12/11/2008	$100.00	-	-
12/31/2008	$102.47	2.47%	0.95%
1/31/2009	$97.53	-2.46%	-7.34%
2/27/2009	$91.98	-8.02%	-17.30%
3/31/2009	$100.73	0.73%	-10.41%
4/30/2009	$106.97	6.97%	-1.50%
5/31/2009	$111.52	11.52%	4.25%
6/30/2009	$114.41	14.42%	4.19%
7/31/2009	$121.06	21.06%	11.96%
8/31/2009	$121.90	21.90%	16.09%
9/30/2009	$125.87	25.87%	20.21%
10/31/2009	$121.87	21.87%	17.90%
11/30/2009	$129.70	29.70%	25.16%
12/31/2009	$132.83	32.83%	27.55%
2009		29.63%	26.35%
	2010 - YTD
	BRHF	%G/L	S&P-500
1/31/2010	$129.10	-2.81%	-3.63%
2/28/2010	$134.03	0.90%	-0.63%
3/31/2010	$138.39	4.19%	4.99%
4/30/2010	$140.86	6.05%	6.62%
5/31/2010	$131.77	-0.80%	-1.86%'
6/30/2010	$126.80	-4.54%	-6.93%
7/31/2010	$134.16	1.00%	-0.58%
8/31/2010	$129.55	-2.47%	-5.05%
9/30/2010	$139.28	4.85%	3.45%
10/31/2010	$144.37	8.69%	7.41%
11/30/2010	$148.85	9.80%	7.41%
12/31/2010	$152.56	14.86%	13.99%
	2011 - YTD
	BRHF	%G/L	S&P-500
1/31/2011	$156.13	2.33%	2.34%
2/28/2011	$159.31	4.42%	5.88%
3/31/2011	$159.71	4.69%	5.90%
4/29/2011	$163.53	7.19%	8.96%
5/31/2011	$163.28	7.03%	7.74%
6/30/2011	$160.05	4.91%	5.82%
7/31/2011	$156.67	2.69%	3.80%
8/31/2011	$148.07	-2.95%	-1.90%
9/30/2011	$145.18	-4.82%	-8.72%
10/31/2011	$157.80	3.43%	1.25%
11/30/2011	$158.07	3.61%	0.84%
12/31/2011	160.22	5.02%	1.89%

Return Since Fund Inception - 12/11/2008

BullRider = 60.2% vs. S&P 500 (SPY) = 48.9%

(as of 12/31/2011)

For daily results or more information email - bullrider@thomark.com