Altegris Clearing Solutions Witter & Lester, Inc. Diversified Trading Program *QEP*
Monthly Performance (%)
Date Range: 03/13 - 02/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 0.91 -0.18 0.73
2016 2.43 -4.87 2.86 -0.06 -0.44 -0.81 5.00 1.50 -2.49 -3.19 -3.38 0.43 -3.43
2015 -2.91 1.80 1.73 0.50 1.27 -4.78 4.89 -0.65 6.17 -6.50 -0.36 2.74 3.19
2014 -1.79 1.21 -1.28 2.29 -1.47 2.69 1.60 0.20 0.91 -4.64 2.24 4.31 6.10
2013 2.44 -4.67 1.36 5.16 4.39 0.35 2.92 3.33 1.95 18.22
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

The DTP was launched in October 2012, and with a generous fee calculation factored in, has returned a forty five month return of 38%. The Program's mandate is to give a daily evalutaion of up to a dozen diverse markets and selectivity search for that one potential A+ trade each day which grades out well across four different styles of market evaluation which includes Price Trend, Seasonal, Market Synergies, and Correlation Analysis. The current model is comprised of 10,000 lines of computer software which each day performs hundreds of studies on the S&P, nasdaq, Bonds, Oil, Gold, Silver, Dollar, Yen, Pound, Corn, Beans, Wheat and Cattle.

Performance Statistics
Date Range: 03/13 - 02/17
  Program SP500 TR Altegris 40
Total Return 25.91% 69.88% 9.00%
Annualized Return 6.06% 14.17% 2.18%
Annualized Std. Deviation 10.13% 10.23% 8.98%
Correlation 0.00 0.24
Sharpe Ratio (rf=2.5%) 0.35 1.14 -0.04
Worst Month -6.50% -6.03% -5.20%
Date of Worst Month 10/2015 08/2015 06/2015
Worst Drawdown -8.79% -8.35% -11.02%
Date of Worst Drawdown 8/16 - 11/16 7/15 - 9/15 4/13 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 03/13 - 02/17
Year or YTD Program SP500 TR Altegris 40
2017 0.73 5.95 0.86
2016 -3.43 11.98 -3.13
2015 3.19 1.41 0.09
2014 6.10 13.69 15.75
2013 18.22 19.71 -5.07
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 03/13 - 02/17
Date: 2/28/2017
Perf: $1,074.49 Date: 1/31/2017
Perf: $1,051.57 Date: 12/31/2016
Perf: $1,065.31 Date: 11/30/2016
Perf: $1,057.27 Date: 10/31/2016
Perf: $1,069.03 Date: 9/30/2016
Perf: $1,097.35 Date: 8/31/2016
Perf: $1,111.69 Date: 7/31/2016
Perf: $1,142.42 Date: 6/30/2016
Perf: $1,130.88 Date: 5/31/2016
Perf: $1,084.78 Date: 4/30/2016
Perf: $1,104.10 Date: 3/31/2016
Perf: $1,132.53 Date: 2/29/2016
Perf: $1,165.99 Date: 1/31/2016
Perf: $1,138.00 Date: 12/31/2015
Perf: $1,099.73 Date: 11/30/2015
Perf: $1,125.61 Date: 10/31/2015
Perf: $1,088.50 Date: 9/30/2015
Perf: $1,107.77 Date: 8/31/2015
Perf: $1,084.24 Date: 7/31/2015
Perf: $1,103.33 Date: 6/30/2015
Perf: $1,061.82 Date: 5/31/2015
Perf: $1,120.06 Date: 4/30/2015
Perf: $1,128.18 Date: 3/31/2015
Perf: $1,173.48 Date: 2/28/2015
Perf: $1,148.10 Date: 1/31/2015
Perf: $1,149.94 Date: 12/31/2014
Perf: $1,098.74 Date: 11/30/2014
Perf: $1,079.74 Date: 10/31/2014
Perf: $1,019.10 Date: 9/30/2014
Perf: $1,004.34 Date: 8/31/2014
Perf: $989.59 Date: 7/31/2014
Perf: $949.43 Date: 6/30/2014
Perf: $957.09 Date: 5/31/2014
Perf: $948.93 Date: 4/30/2014
Perf: $925.24 Date: 3/31/2014
Perf: $918.26 Date: 2/28/2014
Perf: $932.06 Date: 1/31/2014
Perf: $924.48 Date: 12/31/2013
Perf: $949.25 Date: 11/30/2013
Perf: $950.58 Date: 10/31/2013
Perf: $933.68 Date: 9/30/2013
Perf: $912.78 Date: 8/31/2013
Perf: $918.29 Date: 7/31/2013
Perf: $936.27 Date: 6/30/2013
Perf: $944.48 Date: 5/31/2013
Perf: $981.69 Date: 4/30/2013
Perf: $1,025.80 Date: 3/31/2013
Perf: $1,000.00 Date: 2/28/2017
Perf: $1,637.37 Date: 1/31/2017
Perf: $1,574.85 Date: 12/31/2016
Perf: $1,545.48 Date: 11/30/2016
Perf: $1,515.47 Date: 10/31/2016
Perf: $1,461.40 Date: 9/30/2016
Perf: $1,488.49 Date: 8/31/2016
Perf: $1,488.20 Date: 7/31/2016
Perf: $1,486.12 Date: 6/30/2016
Perf: $1,433.23 Date: 5/31/2016
Perf: $1,429.51 Date: 4/30/2016
Perf: $1,404.24 Date: 3/31/2016
Perf: $1,398.78 Date: 2/29/2016
Perf: $1,309.97 Date: 1/31/2016
Perf: $1,311.67 Date: 12/31/2015
Perf: $1,380.12 Date: 11/30/2015
Perf: $1,402.28 Date: 10/31/2015
Perf: $1,398.09 Date: 9/30/2015
Perf: $1,289.27 Date: 8/31/2015
Perf: $1,321.92 Date: 7/31/2015
Perf: $1,406.75 Date: 6/30/2015
Perf: $1,377.82 Date: 5/31/2015
Perf: $1,405.07 Date: 4/30/2015
Perf: $1,387.18 Date: 3/31/2015
Perf: $1,373.99 Date: 2/28/2015
Perf: $1,396.05 Date: 1/31/2015
Perf: $1,320.14 Date: 12/31/2014
Perf: $1,360.97 Date: 11/30/2014
Perf: $1,364.38 Date: 10/31/2014
Perf: $1,328.64 Date: 9/30/2014
Perf: $1,296.99 Date: 8/31/2014
Perf: $1,315.41 Date: 7/31/2014
Perf: $1,264.82 Date: 6/30/2014
Perf: $1,282.51 Date: 5/31/2014
Perf: $1,256.50 Date: 4/30/2014
Perf: $1,227.65 Date: 3/31/2014
Perf: $1,218.64 Date: 2/28/2014
Perf: $1,208.49 Date: 1/31/2014
Perf: $1,155.67 Date: 12/31/2013
Perf: $1,197.09 Date: 11/30/2013
Perf: $1,167.55 Date: 10/31/2013
Perf: $1,132.99 Date: 9/30/2013
Perf: $1,083.17 Date: 8/31/2013
Perf: $1,050.19 Date: 7/31/2013
Perf: $1,081.56 Date: 6/30/2013
Perf: $1,029.17 Date: 5/31/2013
Perf: $1,043.15 Date: 4/30/2013
Perf: $1,019.30 Date: 3/31/2013
Perf: $1,000.00 Date: 2/28/2017
Perf: $1,259.08 Date: 1/31/2017
Perf: $1,261.35 Date: 12/31/2016
Perf: $1,249.98 Date: 11/30/2016
Perf: $1,244.63 Date: 10/31/2016
Perf: $1,288.17 Date: 9/30/2016
Perf: $1,330.61 Date: 8/31/2016
Perf: $1,364.59 Date: 7/31/2016
Perf: $1,344.42 Date: 6/30/2016
Perf: $1,280.40 Date: 5/31/2016
Perf: $1,290.86 Date: 4/30/2016
Perf: $1,296.57 Date: 3/31/2016
Perf: $1,297.34 Date: 2/29/2016
Perf: $1,261.27 Date: 1/31/2016
Perf: $1,325.84 Date: 12/31/2015
Perf: $1,294.39 Date: 11/30/2015
Perf: $1,259.87 Date: 10/31/2015
Perf: $1,264.42 Date: 9/30/2015
Perf: $1,352.32 Date: 8/31/2015
Perf: $1,273.73 Date: 7/31/2015
Perf: $1,282.06 Date: 6/30/2015
Perf: $1,222.29 Date: 5/31/2015
Perf: $1,283.65 Date: 4/30/2015
Perf: $1,267.55 Date: 3/31/2015
Perf: $1,261.25 Date: 2/28/2015
Perf: $1,239.80 Date: 1/31/2015
Perf: $1,217.88 Date: 12/31/2014
Perf: $1,254.38 Date: 11/30/2014
Perf: $1,202.55 Date: 10/31/2014
Perf: $1,176.20 Date: 9/30/2014
Perf: $1,233.43 Date: 8/31/2014
Perf: $1,222.31 Date: 7/31/2014
Perf: $1,219.87 Date: 6/30/2014
Perf: $1,200.66 Date: 5/31/2014
Perf: $1,169.21 Date: 4/30/2014
Perf: $1,186.65 Date: 3/31/2014
Perf: $1,160.09 Date: 2/28/2014
Perf: $1,175.13 Date: 1/31/2014
Perf: $1,161.08 Date: 12/31/2013
Perf: $1,182.24 Date: 11/30/2013
Perf: $1,159.63 Date: 10/31/2013
Perf: $1,122.26 Date: 9/30/2013
Perf: $1,090.42 Date: 8/31/2013
Perf: $1,086.61 Date: 7/31/2013
Perf: $1,040.92 Date: 6/30/2013
Perf: $989.84 Date: 5/31/2013
Perf: $976.56 Date: 4/30/2013
Perf: $1,024.40 Date: 3/31/2013
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 03/13 - 02/17
Date: 2/28/2017
Return: -0.18 % Date: 1/31/2017
Return: 0.91 % Date: 12/31/2016
Return: 0.43 % Date: 11/30/2016
Return: -3.38 % Date: 10/31/2016
Return: -3.19 % Date: 9/30/2016
Return: -2.49 % Date: 8/31/2016
Return: 1.50 % Date: 7/31/2016
Return: 5.00 % Date: 6/30/2016
Return: -0.81 % Date: 5/31/2016
Return: -0.44 % Date: 4/30/2016
Return: -0.06 % Date: 3/31/2016
Return: 2.86 % Date: 2/29/2016
Return: -4.87 % Date: 1/31/2016
Return: 2.43 % Date: 12/31/2015
Return: 2.74 % Date: 11/30/2015
Return: -0.36 % Date: 10/31/2015
Return: -6.50 % Date: 9/30/2015
Return: 6.17 % Date: 8/31/2015
Return: -0.65 % Date: 7/31/2015
Return: 4.89 % Date: 6/30/2015
Return: -4.78 % Date: 5/31/2015
Return: 1.27 % Date: 4/30/2015
Return: 0.50 % Date: 3/31/2015
Return: 1.73 % Date: 2/28/2015
Return: 1.80 % Date: 1/31/2015
Return: -2.91 % Date: 12/31/2014
Return: 4.31 % Date: 11/30/2014
Return: 2.24 % Date: 10/31/2014
Return: -4.64 % Date: 9/30/2014
Return: 0.91 % Date: 8/31/2014
Return: 0.20 % Date: 7/31/2014
Return: 1.60 % Date: 6/30/2014
Return: 2.69 % Date: 5/31/2014
Return: -1.47 % Date: 4/30/2014
Return: 2.29 % Date: 3/31/2014
Return: -1.28 % Date: 2/28/2014
Return: 1.21 % Date: 1/31/2014
Return: -1.79 % Date: 12/31/2013
Return: 1.95 % Date: 11/30/2013
Return: 3.33 % Date: 10/31/2013
Return: 2.92 % Date: 9/30/2013
Return: 0.35 % Date: 8/31/2013
Return: 4.39 % Date: 7/31/2013
Return: 5.16 % Date: 6/30/2013
Return: 1.36 % Date: 5/31/2013
Return: -4.67 % Date: 4/30/2013
Return: 2.44 % Date: 3/31/2013
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 03/13 - 02/17
Return: -7.00 %
Count: 1 Return: 6.00 %
Count: 1 Return: -3.00 %
Count: 3 Return: -1.00 %
Count: 4 Return: -2.00 %
Count: 2 Return: 3.00 %
Count: 5 Return: 4.00 %
Count: 2 Return: 5.00 %
Count: 3 Return: 1.00 %
Count: 5 Return: -5.00 %
Count: 4 Return: 2.00 %
Count: 9 Return: 0.00 %
Count: 9
Note: All performance data is since program inception.

Underwater Curve
Date Range: 03/13 - 02/17
Date: 2/28/2017
Drawdown: -7.73 % Date: 1/31/2017
Drawdown: -7.57 % Date: 12/31/2016
Drawdown: -8.40 % Date: 11/30/2016
Drawdown: -8.79 % Date: 10/31/2016
Drawdown: -5.60 % Date: 9/30/2016
Drawdown: -2.49 % Date: 8/31/2016
Drawdown: 0.00 % Date: 7/31/2016
Drawdown: -0.58 % Date: 6/30/2016
Drawdown: -5.32 % Date: 5/31/2016
Drawdown: -4.54 % Date: 4/30/2016
Drawdown: -4.12 % Date: 3/31/2016
Drawdown: -4.07 % Date: 2/29/2016
Drawdown: -6.73 % Date: 1/31/2016
Drawdown: -1.96 % Date: 12/31/2015
Drawdown: -4.28 % Date: 11/30/2015
Drawdown: -6.84 % Date: 10/31/2015
Drawdown: -6.50 % Date: 9/30/2015
Drawdown: 0.00 % Date: 8/31/2015
Drawdown: -0.77 % Date: 7/31/2015
Drawdown: -0.12 % Date: 6/30/2015
Drawdown: -4.78 % Date: 5/31/2015
Drawdown: 0.00 % Date: 4/30/2015
Drawdown: 0.00 % Date: 3/31/2015
Drawdown: 0.00 % Date: 2/28/2015
Drawdown: -1.16 % Date: 1/31/2015
Drawdown: -2.91 % Date: 12/31/2014
Drawdown: 0.00 % Date: 11/30/2014
Drawdown: -2.50 % Date: 10/31/2014
Drawdown: -4.64 % Date: 9/30/2014
Drawdown: 0.00 % Date: 8/31/2014
Drawdown: 0.00 % Date: 7/31/2014
Drawdown: 0.00 % Date: 6/30/2014
Drawdown: 0.00 % Date: 5/31/2014
Drawdown: -1.47 % Date: 4/30/2014
Drawdown: 0.00 % Date: 3/31/2014
Drawdown: -1.87 % Date: 2/28/2014
Drawdown: -0.60 % Date: 1/31/2014
Drawdown: -1.79 % Date: 12/31/2013
Drawdown: 0.00 % Date: 11/30/2013
Drawdown: 0.00 % Date: 10/31/2013
Drawdown: 0.00 % Date: 9/30/2013
Drawdown: 0.00 % Date: 8/31/2013
Drawdown: 0.00 % Date: 7/31/2013
Drawdown: 0.00 % Date: 6/30/2013
Drawdown: -3.37 % Date: 5/31/2013
Drawdown: -4.67 % Date: 4/30/2013
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Witter & Lester, Inc.
Address: 3330 L&N Drive Suite E
City: Huntsville
State: AL
Zip: 35801-5349
Country: USA
Key People
Name:  Richard L. Lester
Position:  Principal
Biography: 

Richard L. Lester, President and co-founder of the Advisor, attended the University of Alabama in Huntsville and holds an Associate Degree in Business Administration from Calhoun Community College. For ten years (1978-1988), he was employed by First Alabama Bank as a Vice-President and Trust Investment Officer.


Name:  G. Wayne Whaley
Position:  Principal
Biography: 

G. Wayne Whaley, Executive Vice-President for the Advisor since 1993, was employed for five years (1988-1993) as a Systems Analyst by SPARTA, Inc. in Huntsville, Alabama where he created computerized probability models of nuclear arsenal exchanges. He holds a B.S. degree in the Science of Mathematics from Jacksonville State University and a M.S. degree in Operations Research (Applied Math) from Georgia Technological Institute.


Additional Information

The Program Performance information presented in this and other areas of the www.managedfutures.com website was prepared by Altegris Clearing Solutions, LLC, an affiliate within the Altegris Group of Companies, based upon information provided by each respective manager of commodity futures and foreign currency trading programs tracked by Altegris Clearing Solutions and its affiliates. The Program Performance information does not contain opinion or analysis of Altegris Clearing Solutions or any of its affiliates, and the completeness and accuracy of performance information reported to Altegris Clearing Solutions cannot in all cases be independently verified. See “Additional Information” at the end of this page for further details regarding the presentation of performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.