DPCM investors receive an annual update that is similar to the table above. Investment decisions often take more time than a year to produce results. Consequently, DPCM focuses on maximizing the cumulative rate of return at the the bottom of the table and places less emphasis on the results obtained in any single year.
Why DPCM Exists
As the table below shows, a few additional percentage points of annual return can have a dramatic impact on an investor's life. DPCM's goal is to outperform the Market Index by a few percentage points a year over rolling 5-year periods.
*DPCM's home state is PA. The firm is currently registered in the following states: PA, CA, CO, FL, GA, IL, NY, TX, VA and WA. Registration in a state is typically required when an adviser has more than five clients in that state. DPCM may only transact business in a state if it is first registered or excluded/exempt from registration in that state because it has fewer than six clients in that state.