1927 thru 2001

2002 thru 2007

1927 thru 2007

month

simple avg.

contrib.

simple avg.

contrib.

simple avg.

Jan

3.90%

3.61%

1.56%

0.12%

3.73%

Feb

1.30%

1.20%

-0.55%

-0.04%

1.16%

Mar

0.50%

0.46%

2.13%

0.16%

0.62%

Apr

1.30%

1.20%

1.24%

0.09%

1.30%

May

0.70%

0.65%

2.44%

0.18%

0.83%

Jun

1.10%

1.02%

0.61%

0.05%

1.06%

Jul

1.80%

1.67%

-2.19%

-0.16%

1.50%

Aug

1.60%

1.48%

1.02%

0.08%

1.56%

Sep

-0.70%

-0.65%

-0.07%

-0.01%

-0.65%

Oct

-0.40%

-0.37%

3.26%

0.24%

-0.13%

Nov

1.60%

1.48%

5.06%

0.38%

1.86%

Dec

1.70%

1.57%

0.75%

0.06%

1.63%

yrs

This chart was created by augementing the data in the "Returns by Month of the Year (1927-2001)"

chart in The Incredible January Effect with the returns in Haugen Custom Financial System's

database from 2002 thru 2007. These latter returns were based on our universe of stocks, which

ranged in population from 3,300 to 3,800 U.S. stocks. Before calculating the averages, stocks with

returns over 500%, or under -98%, were thrown out. Then the simple average of each month's

returns were calculated for the six year period. Finally, ratios of the first 75 years were

added to ratios of the last six years in order to show a composite 81-year score for each month.