Bison Bond I Program

This is our flagship program dating back to 1991. It employs interest rate anticipation using economic fundamentals based upon the Austrian economic model. The program uses only U.S. government bonds and money market instruments.

Bison Bond II Program

This program has the option to either long or short the U.S. government bond. We expect the long bull market in government bonds to reverse over the next three to five years. This will take advantage of that change when it occurs.

Bison Bond III Program

The asset options with this program are the long U.S. government bond, gold and/or money market funds. We call this our barbell approach. It has assets which should do well in both inflationary and deflationary times.

Bison Bond IV Program

This is the same program as BBIII with the addition of being able to short the long government bond. We term this our barbell plus program.

Bison Dollar V Program

There is concern on our part that the dollar might lose its world status in the very long run. In the meantime, it is attractive due to the need to have dollars to pay debt. In order to capture gains on the dollar movements we either long or short the dollar. It also provides a hedge for Bison Bond I and Bison Bond II.

Fixed Income Ladders Program

This is our traditional bond portfolio program of laddering maturity dates over a specific number of years thereby obtaining an average coupon return. This program can be used in conjunction with Bison Bond I thereby achieving a core plus bond portfolio.