We are focused on providing our clients with full transparency on how our investment ideas and the PAA Research SMid Cap Portfolio perform. At PAA Research our goals are aligned with those of our clients. We are focused on identifying investment ideas with high absolute return potential in any market environment. We measure our investment acumen on two primary metrics: "batting average" and average return. The batting average reflects the percentage of investment ideas that generated positive returns. We track the return on our investment ideas on a weekly basis. Since inception we have introduced: - 10 long ideas - 10 short ideas - 6 pair trades We are pleased that each investment category has generated positive absolute returns. The charts below depict the average returns for our long, short and pair trade ideas, as well as our overall "batting average". In addition, we update the performance of the PAA Research SMid Cap Portfolio on a bi-weekly basis.