### Performance Parameters

To evaluate leveraged strategies, it makes little sense to use annual
returns as percentages, since leverage could make them as high as one
desires, at the cost of taking on more risk. A widely used measure is Sharpe's ratio
defined as the ratio between annualized returns over the money-market
rate divided by the annualized standard deviation of the value of the
portfolio.

Based on a historical performance of the portfolio we expect:

- the average annual return to be around +22%
- the combined (annualized) Sharpe ratio to exceed 2