This is the first in a planned series of regular quarterly research reports that will investigate timely topics that impact Choice Alternative Investments (“CAI”). Each quarter CAI intend to describe current intermediate term market trends, followed by a discussion of various fund management including risk control techniques we employ and the manner in which they may come into play during those trends.

Part I — Market Analysis U.S. Markets. - International Markets - Potential Causes of Volatility - Taking a look back so we can see forward Part II — A Disciplined, Adaptive Approach. - Tactics Emphasized by CAI Aggressive Growth Strategy (“CAI AG”) Conclusion