Investment Approach Our research-driven investment process includes both quantitative and qualitative analysis. We begin by identifying sectors poised to benefit from macroeconomic, sociopolitical, and demographic trends. Within promising sectors, we look for innovative companies that provide improved quality of life and solutions to future problems. We then screen industry leaders for attractive financial features, including balance sheet strength, cash flow, and earnings momentum. We look for companies that can control niche markets through product and marketing skill and cost structure. We review management teams for their ability to adapt to shifting market conditions, to provide competitive return on invested capital and to create a corporate culture that promotes customer and employee loyalty. Importantly, we look for proof of management's ongoing commitment to transparent accounting practices and demonstrated alignment of interests with shareholders.       (c) 2006 Vista Asset Management LLC. All Rights Reserved.