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How Deen Capital Performance Is Calculated
All Deen Capital Management, Inc. ("Deen Capital") published performance results are
based on real-money accounts, and represent the average net return after broker's commissions.
Since 1994, these results are also net after the management fee*.
Please note that the performance of your account may vary from the published average.
Deen Capital began managing client accounts in late 1993. From 1994 to the present,
we calculate performance as follows:
- Deen Capital performance for any one quarter is the average performance of
all "conforming" accounts for that quarter. Deen Capital performance
spanning multiple quarters is calculated by compounding the performance of consecutive quarters.
All accounts under management for a particular quarter are "conforming accounts" unless one
or more of the following exceptions apply:
- Account was not under management for the entire quarter.
- Cash or stock was added or removed from management during the quarter.
- Client requested the use of margin for leverage during the quarter.
- Client paid management fee from separate funds, not from the account, during the quarter.
- Client paid a non-standard management fee during the quarter.
- Client requested non-standard management during the quarter.
- As of the start of the quarter, client's net contribution and
the account value were both less than $50,000.
* Performance results for 1992 and 1993 are based on Mr. Deen's personal IRA, which was
(and still is) managed in the same manner as client accounts.
At that time, no management fee was deducted from Mr. Deen's IRA.
Since October 1999, Mr. Deen's IRA pays the same management fee as client accounts.
Mr. Deen's IRA has always paid the same brokerage commissions as client accounts.
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