The Dow Theory, developed in the 1930s, was one of the first econometric models applied to technical investing that established and correlated a statistical relationship between the Dow Jones Industrial Average and the Dow Jones Transportation indices. The 1970s and 1980s served as a proving ground for the existence of a relationship between interest rates and the performance of the stock market. The 1990s brings us into a world economy.

In view of these historical "trends," Hermes has developed econometric models to encompass a vast global range of economic and financial data which we believe, when correlated, will apply and lead us to a daily conclusion on where to invest our client's money.

Investment decisions are based on Econometric Market Indicators - a reliable source for telling us where we want to be invested today. The EMI for various fund families is computer by weighing the expected rate-of-change of traditional market indicators as well as key stock and bond funds.

Hermes generates charts using actual Net Asset Values, fund and money market dividend data, as reported by the funds to NASDAQ daily. Hermes charts are trademarked and copyrighted. Our indicators are downloaded via data feeds from all the world's principal exchanges and reporting authorities.