Fourth Quarter 2011                             >> v i e w  i n t e l l i g e n t  i n v e s t i n g           Model Portfolio Disclosure: The market indexes shown are for informational purposes only and are not indicative of any DEM portfolio. Widely-recognized indexes were selected to illustrate market returns of various asset classes for the time period indicated. One cannot invest directly in an index. Index returns do not reflect transaction fees, management fees or other expenses related to investing.