Independent Capital Management AG

Independent Asset Manager

Gottfried-Keller-Strasse 5

CH-8001 Zurich

+41 44 256 16 16

1950 - 2015

Or why everybody is better off.

Change in eight Subcomponents since 2000

Or why it is getting ever more expensive to keep up with the Jones

The cost of trying to outsmart the market as an active investor