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John Hussman Buys Apple Inc., Target Corp., Darden Restaurants Inc., Sells ConocoPhillips, ColgatePalmolive Company, Archer Daniels Midland Company

Dr. John Hussman is one of the few fund managers that saw the crisis coming and successfully avoid large losses from it. He has more than 120 stocks in his portfolio at a high turnover. He is weighted in consumer services, technology and healthcare. These are his buys and sells during the fourth quarter.

John Hussman buys Apple Inc., Target Corp., QUALCOMM Inc., General Electric Company, Darden Restaurants Inc., Hasbro Inc., Adobe Systems Inc., SunPower Corp., American Express Company, Altera Corp., Novartis AG, McCormick & Company Inc., BJ's Wholesale Club Inc., Zimmer Holdings Inc., Oracle Corp., Alcon Inc., Polo Ralph Lauren Corp., The Estee Lauder Companies Inc., Ross Stores Inc., 3M Company, Tupperware Brands Corp., Mosaic Company The, Nordstrom Inc., Southwest Airlines Co., Cypress Semiconductor Corp., Caterpillar Inc., Steel Dynamics Inc., Paychex Inc., Whirlpool Corp., IDEXX Laboratories Inc., LifePoint Hospitals Inc., P.F.Chang's China Bistro Inc., Mattel Inc., Avery Dennison Corp., Life Technologies Corp., Wells Fargo & Company, Bunge Ltd., CommScope Inc., , Celldex Therapeutics Inc, sells ConocoPhillips, ColgatePalmolive Company, Archer Daniels Midland Company, Apollo Group Inc., Barclays PLC, Broadcom Corp., Agilent Technologies Inc., Analog Devices Inc., Cognizant Technology Solutions Corp., Citrix Systems Inc., Autodesk Inc., AMERIGROUP Corp., Brocade Communications Systems Inc. New, Actuant Corp., Ciena Corp., Cell Genesys Inc., Schlumberger Ltd., Schnitzer Steel Industries Inc., Pharmaceutical Product Development Inc., The Pepsi Bottling Group Inc., OmniVision Technologies Inc., NETGEAR Inc., SanofiAventis, Seagate Technology, Syniverse Holdings Inc., Tesoro Corp., Valero Energy Corp., WellCare Health Plans Inc., Wyeth, Yahoo! Inc., Nokia Corp., Nabors Industries Ltd., DISH NETWORK CORPORATION CLASS A COMMON, DryShips Inc., DeVry Inc., Ecolab Inc., EMC Corp., Fossil Inc., Frontier Oil Corp., Gannett Co. Inc., Garmin Ltd., Health Management Associates Inc., Jabil Circuit Inc., King Pharmaceuticals Inc., The CocaCola Company, Dell Inc. during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, Hussman Economtrics Advisors, Inc.. John Hussman owns 121 stocks with a total value of $3.4 billion. These are the details of the buys and sells.

For the details of John Hussman's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=John+Hussman

Added: Panera Bread Company (PNRA)

John Hussman added to his holdings in Panera Bread Company by 125%. His purchase prices were between $37.4 and $54.66, with an estimated average price of $44.5. The impact to his portfolio due to this purchase was 1.94%. His holdings were 2,250,000 shares as of 12/31/2008.

Panera Bread Company operates a retail bakery-cafe business and franchising business under the concept names Panera Bread Company and Saint Louis Bread Company. The concept specializes in high quality food for breakfast and lunch including fresh baked goods made-to-order sandwiches on freshly baked breads soups salads custom roasted coffees as well as other cafe beverages and targets suburban dwellers and workers by offering a premium specialty bakery and cafe experience with a neighborhood experience.> Panera Bread Company has a market cap of $1.44 billion; its shares were traded at around $47.64 with a P/E ratio of 22.7 and P/S ratio of 1.35. Panera Bread Company had an annual average earning growth of 20% over the past 5 years.

Added: St. Jude Medical Inc. (STJ)

John Hussman added to his holdings in St. Jude Medical Inc. by 700%. His purchase prices were between $27.64 and $38.03, with an estimated average price of $32.8. The impact to his portfolio due to this purchase was 1.72%. His holdings were 2,000,000 shares as of 12/31/2008.

St. Jude Medical Inc. is dedicated to making life better for cardiac neurological and chronic pain patients worldwide through excellence in medical device technology and services. The Company has five major focus areas that include cardiac rhythm management atrial fibrillation cardiac surgery cardiology and neuromodulation. St. Jude Medical Inc. has a market cap of $12.52 billion; its shares were traded at around $36.95 with a P/E ratio of 15.7 and P/S ratio of 2.87. St. Jude Medical Inc. had an annual average earning growth of 19.5% over the past 10 years. GuruFocus rated St. Jude Medical Inc. the business predictability rank of 4.5-star.

Added: WalMart Stores Inc. (WMT)

John Hussman added to his holdings in WalMart Stores Inc. by 60%. His purchase prices were between $50.73 and $57.96, with an estimated average price of $54.1. The impact to his portfolio due to this purchase was 1.25%. His holdings were 2,000,000 shares as of 12/31/2008.

Wal-Mart Stores Inc. is the world's largest retailer. They are engaged in the operation of mass merchandising stores which serve their customers primarily through the operation of three segments which are the Wal-Mart Stores segment the SAM'S Club segment and the International segment. WalMart Stores Inc. has a market cap of $184.83 billion; its shares were traded at around $49.28 with a P/E ratio of 13.6 and P/S ratio of 0.49. The dividend yield of WalMart Stores Inc. stocks is 2.02%. WalMart Stores Inc. had an annual average earning growth of 13.3% over the past 10 years. GuruFocus rated WalMart Stores Inc. the business predictability rank of 5-star.

Added: Research in Motion Ltd. (RIMM)

John Hussman added to his holdings in Research in Motion Ltd. by 66.67%. His purchase prices were between $38.82 and $59.01, with an estimated average price of $45.6. The impact to his portfolio due to this purchase was 1.2%. His holdings were 2,500,000 shares as of 12/31/2008.

RESEARCH IN MOTION is a world leader in the mobile communications market and has a history of developing breakthrough wireless solutions. RIM's portfolio of award-winning products services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry wireless platform the RIM Wireless Handheld product line software development tools radio-modems and software/hardware licensing agreements. Research in Motion Ltd. has a market cap of $31.35 billion; its shares were traded at around $59 with a P/E ratio of 17 and P/S ratio of 5.22. Research in Motion Ltd. had an annual average earning growth of 83.5% over the past 5 years.

Added: AstraZeneca PLC (AZN)

John Hussman added to his holdings in AstraZeneca PLC by 40.43%. His purchase prices were between $32.83 and $41.06, with an estimated average price of $37.7. The impact to his portfolio due to this purchase was 1.16%. His holdings were 3,300,000 shares as of 12/31/2008.

AstraZeneca PLC is one of the top five pharmaceutical companies in the world based on sales and is a therapeutic leader in cardiovascular gastrointestinal oncology anesthesia including pain management central nervous system (CNS) and respiratory products. They are engaged in the research development manufacture and marketing of ethical (prescription) pharmaceuticals and agricultural products and the supply of healthcare services. AstraZeneca PLC has a market cap of $56.79 billion; its shares were traded at around $38.7 with a P/E ratio of 8.3 and P/S ratio of 1.92. The dividend yield of AstraZeneca PLC stocks is 4.93%. AstraZeneca PLC had an annual average earning growth of 12.2% over the past 10 years. GuruFocus rated AstraZeneca PLC the business predictability rank of 2-star.

Added: Amazon.com Inc. (AMZN)

John Hussman added to his holdings in Amazon.com Inc. by 50%. His purchase prices were between $37.87 and $57.24, with an estimated average price of $49. The impact to his portfolio due to this purchase was 1.14%. His holdings were 2,250,000 shares as of 12/31/2008.

Amazon.com Inc. seeks to be the world's most customer-centric company where customers can find and discover anything they may want to buy online. The company lists unique items in categories such as books music DVDs videos consumer electronics toys camera and photo items software computer and video games tools and hardware lawn and patio items kitchen products and wireless products. Amazon.com Inc. has a market cap of $25.22 billion; its shares were traded at around $66.71 with a P/E ratio of 39.3 and P/S ratio of 1.32.

Added: Cisco Systems Inc. (CSCO)

John Hussman added to his holdings in Cisco Systems Inc. by 66.67%. His purchase prices were between $15.17 and $17.91, with an estimated average price of $16.7. The impact to his portfolio due to this purchase was 0.97%. His holdings were 5,000,000 shares as of 12/31/2008.

Cisco Systems Inc. is the worldwide leader in networking for the Internet. Cisco's Internet Protocol-based networking solutions are the foundation of the Internet and most corporate education and government networks around the world. Cisco provides the broadest line of solutions for transporting data voice and video within buildings across campuses or around the world. Cisco Systems Inc. has a market cap of $87.65 billion; its shares were traded at around $16.85 with a P/E ratio of 10.4 and P/S ratio of 2.22. Cisco Systems Inc. had an annual average earning growth of 17.1% over the past 10 years.

Added: QLogic Corp. (QLGC)

John Hussman added to his holdings in QLogic Corp. by 128.57%. His purchase prices were between $9.15 and $12.83, with an estimated average price of $11.6. The impact to his portfolio due to this purchase was 0.9%. His holdings were 4,000,000 shares as of 12/31/2008.

QLogic Corporation simplifies the process of networking storage for OEMs resellers and system integrators with the only end-to-end infrastructure in the industry consisting of award-winning controller chips host bus adapters network switches and management software to move data from the storage device through the fabric to the server. QLogic designs and produces solutions based on all storage network technologies including SCSI iSCSI InfiniBand and Fibre Channel. A member of the S&P 500 Index. QLogic Corp. has a market cap of $1.45 billion; its shares were traded at around $11.39 with a P/E ratio of 10.8 and P/S ratio of 2.42. QLogic Corp. had an annual average earning growth of 19.9% over the past 10 years. GuruFocus rated QLogic Corp. the business predictability rank of 2-star.

Added: Best Buy Co. Inc. (BBY)

John Hussman added to his holdings in Best Buy Co. Inc. by 36.36%. His purchase prices were between $17.54 and $27.96, with an estimated average price of $23.9. The impact to his portfolio due to this purchase was 0.83%. His holdings were 3,750,000 shares as of 12/31/2008.

Best Buy operates in a single business segment selling personal computers and other home office products consumer electronics entertainment software major appliances and related accessories principally through its retail stores. They operate retail stores and commercial Websites under the brand names Best Buy Media Play On Cue Sam Goody Suncoast Magnolia Hi-Fi and Future Shop. They also operate in three segments: Best Buy Musicland and International. Best Buy Co. Inc. has a market cap of $11.55 billion; its shares were traded at around $30.14 with a P/E ratio of 9.5 and P/S ratio of 0.29. The dividend yield of Best Buy Co. Inc. stocks is 2%. Best Buy Co. Inc. had an annual average earning growth of 24% over the past 10 years. GuruFocus rated Best Buy Co. Inc. the business predictability rank of 4.5-star.

Added: Netflix Inc. (NFLX)

John Hussman added to his holdings in Netflix Inc. by 57.23%. His purchase prices were between $18.95 and $28.51, with an estimated average price of $24. The impact to his portfolio due to this purchase was 0.81%. His holdings were 2,500,000 shares as of 12/31/2008.

Netflix Inc. is the largest online movie rental subscription service in the United States providing subscribers access to a comprehensive library of more than 18000 movie television and other filmed entertainment titles. The standard subscription plan allows subscribers to have three titles out at the same time with no due dates late fees or shipping charges for a monthly fee. Netflix Inc. has a market cap of $2.12 billion; its shares were traded at around $36.94 with a P/E ratio of 26.9 and P/S ratio of 1.55. Netflix Inc. had an annual average earning growth of 81.9% over the past 5 years.

Added: SigmaAldrich Corp. (SIAL)

John Hussman added to his holdings in SigmaAldrich Corp. by 185.71%. His purchase prices were between $37.31 and $44.05, with an estimated average price of $41.1. The impact to his portfolio due to this purchase was 0.81%. His holdings were 1,000,000 shares as of 12/31/2008.

Sigma-Aldrich Corporation develops manufactures and distributes the broadest range of high quality biochemicals organic chemicals chromatography products and diagnostic reagents available in the world. These products are used in high technology research and development in the life sciences at universities and in industry for the diagnosis of disease and as specialty chemicals for pharmaceutical and other manufacturing purposes. SigmaAldrich Corp. has a market cap of $4.52 billion; its shares were traded at around $39.62 with a P/E ratio of 13.6 and P/S ratio of 2.22. The dividend yield of SigmaAldrich Corp. stocks is 1.44%. SigmaAldrich Corp. had an annual average earning growth of 12.6% over the past 10 years. GuruFocus rated SigmaAldrich Corp. the business predictability rank of 4.5-star.

Added: Aeropostale Inc. (ARO)

John Hussman added to his holdings in Aeropostale Inc. by 55%. His purchase prices were between $13.99 and $25.91, with an estimated average price of $18.8. The impact to his portfolio due to this purchase was 0.79%. His holdings were 4,650,000 shares as of 12/31/2008.

Aeropostale Inc. is a mall-based specialty retailer of casual apparel and accessories principally targeting fourteen to seventeen year-old young women and men. The Company provides customers with a focused selection of high-quality active-oriented fashion and fashion basic merchandise at compelling values. Aeropostale maintains control over its proprietary brands by designing sourcing marketing and selling all of its own merchandise. Aeropostale products are currently purchased only in its stores on-line through its e-commerce website or at organized sales events at college campuses. Aeropostale Inc. has a market cap of $1.41 billion; its shares were traded at around $22.78 with a P/E ratio of 9.5 and P/S ratio of 0.89. Aeropostale Inc. had an annual average earning growth of 27.4% over the past 5 years.

Added: Amgen Inc. (AMGN)

John Hussman added to his holdings in Amgen Inc. by 25%. His purchase prices were between $48.58 and $59.89, with an estimated average price of $56.2. The impact to his portfolio due to this purchase was 0.69%. His holdings were 2,000,000 shares as of 12/31/2008.

Amgen Inc. discovers develops and delivers innovative human therapeutics. A biotechnology pioneer Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab to manufacturing plant to patient. Amgen therapeutics have changed the practice of medicine helping millions of people around the world in the fight against cancer kidney disease rheumatoid arthritis and other serious illnesses. With a deep and broad pipeline of potential new medicines Amgen remains committed to advancing science to dramatically improve people's lives. Amgen Inc. has a market cap of $58.11 billion; its shares were traded at around $58.74 with a P/E ratio of 12.4 and P/S ratio of 3.87. Amgen Inc. had an annual average earning growth of 19.2% over the past 10 years. GuruFocus rated Amgen Inc. the business predictability rank of 4-star.

Added: The Home Depot Inc. (HD)

John Hussman added to his holdings in The Home Depot Inc. by 33.33%. His purchase prices were between $18.31 and $24.4, with an estimated average price of $21.7. The impact to his portfolio due to this purchase was 0.51%. His holdings were 3,000,000 shares as of 12/31/2008.

Home Depot is the one of world's largest home improvement retailer. The company offers a level of service unprecedented among warehouse-style retailers. Home Depot stores cater to do-it-yourselfers as well as home improvement construction and building maintenance professionals. The Home Depot currently operates in the USA Canada Chile Puerto Rico and Argentina. The company also operates EXPO Design Centers across the U.S. and Villager's Hardware in New Jersey. The Home Depot Inc. has a market cap of $36.5 billion; its shares were traded at around $23.09 with a P/E ratio of 10.7 and P/S ratio of 0.47. The dividend yield of The Home Depot Inc. stocks is 4.18%. The Home Depot Inc. had an annual average earning growth of 19.5% over the past 10 years. GuruFocus rated The Home Depot Inc. the business predictability rank of 5-star.

Added: Johnson & Johnson (JNJ)

John Hussman added to his holdings in Johnson & Johnson by 14.29%. His purchase prices were between $55.39 and $62.13, with an estimated average price of $59. The impact to his portfolio due to this purchase was 0.44%. His holdings were 2,000,000 shares as of 12/31/2008.

Johnson & Johnson is engaged in the manufacture and sale of a broad range of products in the health care field in many countries of the world. The company's worldwide business is divided into three segments: Consumer; Pharmaceutical; and Professional. Johnson & Johnson has a market cap of $160.07 billion; its shares were traded at around $58.5 with a P/E ratio of 12.7 and P/S ratio of 2.51. The dividend yield of Johnson & Johnson stocks is 3.19%. Johnson & Johnson had an annual average earning growth of 12.5% over the past 10 years. GuruFocus rated Johnson & Johnson the business predictability rank of 4.5-star.

Added: Starbucks Corp. (SBUX)

John Hussman added to his holdings in Starbucks Corp. by 67.5%. His purchase prices were between $7.83 and $13.13, with an estimated average price of $9.8. The impact to his portfolio due to this purchase was 0.38%. His holdings were 3,350,000 shares as of 12/31/2008.

Starbucks Corporation purchases and roasts high-quality whole bean coffees and sells them along with fresh rich-brewed Italian style espresso beverages a variety of pastries and confections and coffee-related accessories and equipment primarily through its company-operated retail stores. In addition to sales through our company-operated retail stores Starbucks sells whole bean coffees through a specialty sales group and supermarkets. Additionally Starbucks produces and sells bottled Frappuccino coffee drink and a line of premium ice creams through its joint venture partnerships and offers a line of innovative premium teas produced by its wholly owned subsidiary Tazo Tea Company. The Company plans to continue to rapidly expand its retail operations grow its specialty sales and other operations and selectively pursue opportunities to leverage the Starbucks brand through the introduction of new products and the development of new distribution channels. Starbucks Corp. has a market cap of $6.92 billion; its shares were traded at around $10.72 with a P/E ratio of 16.3 and P/S ratio of 0.67. Starbucks Corp. had an annual average earning growth of 24.4% over the past 10 years. GuruFocus rated Starbucks Corp. the business predictability rank of 5-star.

Added: NIKE Inc. (NKE)

John Hussman added to his holdings in NIKE Inc. by 14.29%. His purchase prices were between $46.31 and $57.35, with an estimated average price of $51.4. The impact to his portfolio due to this purchase was 0.38%. His holdings were 2,000,000 shares as of 12/31/2008.

Nike Inc.'s principal business activity involves the design development and worldwide marketing of high quality footwear apparel equipment and accessory products. NIKE is the one of the largest sellers of athletic footwear and athletic apparel in the world. The company sells its products to retail accounts in the United States and through a mix of independent distributors licensees and subsidiaries in numerous countries around the world. NIKE Inc. has a market cap of $21.9 billion; its shares were traded at around $47.77 with a P/E ratio of 11.9 and P/S ratio of 1.18. The dividend yield of NIKE Inc. stocks is 2.21%. NIKE Inc. had an annual average earning growth of 13.8% over the past 10 years. GuruFocus rated NIKE Inc. the business predictability rank of 3.5-star.

Added: Medtronic Inc. (MDT)

John Hussman added to his holdings in Medtronic Inc. by 87.5%. His purchase prices were between $29.72 and $40.08, with an estimated average price of $34.8. The impact to his portfolio due to this purchase was 0.33%. His holdings were 750,000 shares as of 12/31/2008.

Medtronic is the world's leading medical technology company pioneeringdevice-based therapies that restore health extend life and alleviate pain.Primary products include those for bradycardia pacing tachyarrhythmiamanagement atrial fibrillation management among others. Medtronic operates its business in one reportable segment that of manufacturing and selling device-based medical therapies. The company does business in more than 120 countries. The company's product lines include cardiac rhythm management neurological and spinal vascular and cardiac surgery. Medtronic Inc. has a market cap of $37.45 billion; its shares were traded at around $33.13 with a P/E ratio of 11.9 and P/S ratio of 2.77. The dividend yield of Medtronic Inc. stocks is 2.24%. Medtronic Inc. had an annual average earning growth of 14.7% over the past 10 years. GuruFocus rated Medtronic Inc. the business predictability rank of 4.5-star.

Added: Martek Biosciences Corp. (MATK)

John Hussman added to his holdings in Martek Biosciences Corp. by 53.85%. His purchase prices were between $23.75 and $29.83, with an estimated average price of $27.8. The impact to his portfolio due to this purchase was 0.32%. His holdings were 1,000,000 shares as of 12/31/2008.

Martek Biosciences Corp. develops manufactures and sells products from microalgae. The company's products include: (1) specialty nutritional oils for infant formula nutritional supplements and food ingredients; (2) high value reagents and technologies to visualize molecular interactions for drug discovery and development; and (3) new powerful fluorescent markers for diagnostics rapid miniaturized screening and gene and protein detection. (Company Press Release) Martek Biosciences Corp. has a market cap of $876.84 million; its shares were traded at around $24.78 with a P/E ratio of 23.2 and P/S ratio of 2.49. Martek Biosciences Corp. had an annual average earning growth of 24.2% over the past 5 years.

Added: Walgreen Company (WAG)

John Hussman added to his holdings in Walgreen Company by 66.67%. His purchase prices were between $22.48 and $26.15, with an estimated average price of $24.3. The impact to his portfolio due to this purchase was 0.29%. His holdings were 1,000,000 shares as of 12/31/2008.

Walgreen Co. is a national retail pharmacy chain and considered the leader in innovative drugstore retailing. Walgreens pioneered many store features that are becoming standards in the industry. Among those concepts are: Computerized pharmacies Point-of-sale scanning Freestanding stores with drive-thru pharmacies and Intercom Plus Walgreens advanced new pharmacy computer and workflow system. Intercom Plus allows pharmacists to spend more time counseling patients by assigning administrative tasks to pharmacy technicians Walgreen Company has a market cap of $27.12 billion; its shares were traded at around $28 with a P/E ratio of 12.8 and P/S ratio of 0.46. The dividend yield of Walgreen Company stocks is 1.64%. Walgreen Company had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Walgreen Company the business predictability rank of 5-star.

Added: Intel Corp. (INTC)

John Hussman added to his holdings in Intel Corp. by 16.67%. His purchase prices were between $12.98 and $15.73, with an estimated average price of $14.2. The impact to his portfolio due to this purchase was 0.22%. His holdings were 3,500,000 shares as of 12/31/2008.

Intel Corporation one of the world's largest semiconductor chip maker supplies the computing and communications industries with chips boards and systems building blocks that are integral to computers servers and networking and communications products. Its products are offered at various levels of integration and are used by industry members to create advanced computing and communications systems. Intel Corp. has a market cap of $71.75 billion; its shares were traded at around $14.91 with a P/E ratio of 13.1 and P/S ratio of 1.91. The dividend yield of Intel Corp. stocks is 4.34%. Intel Corp. had an annual average earning growth of 0.4% over the past 10 years.

Added: DreamWorks Animation SKG Inc. (DWA)

John Hussman added to his holdings in DreamWorks Animation SKG Inc. by 33.33%. His purchase prices were between $20.57 and $28.1, with an estimated average price of $24.8. The impact to his portfolio due to this purchase was 0.19%. His holdings were 1,000,000 shares as of 12/31/2008.

Dream Works Animation SKG Inc. develops and produces computer generated animated feature films for a broad movie-going audience. DreamWorks Animation SKG Inc. has a market cap of $1.97 billion; its shares were traded at around $21.9 with a P/E ratio of 11.2 and P/S ratio of 2.56.

Added: Network Appliance Inc. (NTAP)

John Hussman added to his holdings in Network Appliance Inc. by 19.05%. His purchase prices were between $12.2 and $13.6, with an estimated average price of $13. The impact to his portfolio due to this purchase was 0.17%. His holdings were 2,500,000 shares as of 12/31/2008.

NetApp Inc. formerly Network Appliance Inc. is a leading provider of innovative data management solutions that simplify the complexity of storing managing protecting and retaining enterprise data. Market leaders around the world choose NetApp to help them reduce cost minimize risk and adapt to change. Network Appliance Inc. has a market cap of $4.9 billion; its shares were traded at around $16.3 with a P/E ratio of 16.1 and P/S ratio of 1.48. Network Appliance Inc. had an annual average earning growth of 20.4% over the past 10 years. GuruFocus rated Network Appliance Inc. the business predictability rank of 3-star.

Added: Under Armour Inc. (UA)

John Hussman added to his holdings in Under Armour Inc. by 42.86%. His purchase prices were between $18.1 and $28.25, with an estimated average price of $24.1. The impact to his portfolio due to this purchase was 0.11%. His holdings were 500,000 shares as of 12/31/2008.

Under Armour is a leading developer marketer and distributor of branded performance products for men women and youth. The brand's moisture-wicking synthetic fabrications are engineered in many different designs and styles for wear in nearly every climate to provide a performance alternative to traditional natural fiber products. The Company is an official supplier to the National Hockey League the U.S. Ski Team USA Rugby the National Lacrosse League and Major League Lacrosse; and the Company's products are worn by professional football baseball and soccer players as well as athletes in major collegiate and Olympic sports. The Company's products are currently sold in the United States Canada Japan and the United Kingdom. Under Armour Inc. has a market cap of $911.88 million; its shares were traded at around $17.58 with a P/E ratio of 23.2 and P/S ratio of 1.26.

Added: Ameren Corp. (AEE)

John Hussman added to his holdings in Ameren Corp. by 200%. His purchase prices were between $27.02 and $34.91, with an estimated average price of $31.7. The impact to his portfolio due to this purchase was 0.1%. His holdings were 150,000 shares as of 12/31/2008.

Ameren Corporation companies provide energy services customers in Missouri and Illinois. AmerenUE one of its subsidiaries is the one of the largest electric utilities in Missouri and distributors of natural gas. AmerenCIPS another subsidiary is both an electric and natural gas utility and serves one of the largest geographic areas of Illinois-based utility companies. (Company Press Release) Ameren Corp. has a market cap of $7.03 billion; its shares were traded at around $33.62 with a P/E ratio of 10.7 and P/S ratio of 0.93. The dividend yield of Ameren Corp. stocks is 7.64%. Ameren Corp. had an annual average earning growth of 0.6% over the past 10 years. GuruFocus rated Ameren Corp. the business predictability rank of 2-star.

Added: DTE Energy Company (DTE)

John Hussman added to his holdings in DTE Energy Company by 130.77%. His purchase prices were between $29.96 and $37.34, with an estimated average price of $34.6. The impact to his portfolio due to this purchase was 0.09%. His holdings were 150,000 shares as of 12/31/2008.

DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its largest operating units are Detroit Edison an electric utility serving 2.1 million customers in Southeastern Michigan and MichCon a natural gas utility serving 1.2 million customers in Michigan. Detroit Edison is the Company's principal operating subsidiary. Affiliates of the Company are engaged in non-regulated businesses including energy-related services and products. DTE Energy Company has a market cap of $5.62 billion; its shares were traded at around $34.88 with a P/E ratio of 10.8 and P/S ratio of 0.66. The dividend yield of DTE Energy Company stocks is 6.14%. DTE Energy Company had an annual average earning growth of 7.5% over the past 5 years.

Added: Western Digital Corp. (WDC)

John Hussman added to his holdings in Western Digital Corp. by 16.67%. His purchase prices were between $10.38 and $16.47, with an estimated average price of $13.4. The impact to his portfolio due to this purchase was 0.09%. His holdings were 1,750,000 shares as of 12/31/2008.

Western Digital Corp. designs develops manufactures and markets a broad line of hard drives featuring leading-edge technology. The company's hard drives are designed for the desktop PC market and the high-end hard drive market and recently for the emerging market for hard drives specially designed for audio-visual applications such as new video recording devices. The company sells its products worldwide to computer manufacturers for inclusion in their computer systems or subsystems and to distributors resellers and retailers. Western Digital Corp. has a market cap of $3.25 billion; its shares were traded at around $17.21 with a P/E ratio of 3.9 and P/S ratio of 0.4. Western Digital Corp. had an annual average earning growth of 55.8% over the past 5 years.

Added: Pinnacle West Capital Corp. (PNW)

John Hussman added to his holdings in Pinnacle West Capital Corp. by 100%. His purchase prices were between $28.01 and $31.17, with an estimated average price of $29.5. The impact to his portfolio due to this purchase was 0.07%. His holdings were 150,000 shares as of 12/31/2008.

Pinnacle West Capital is engaged through its subsidiaries in the generation transmission and distribution of electricity and selling energy products and services; in real estate development; and in venture capital investment. Its primary subsidiary is Arizona Public Service Company. The company's other subsidiaries include SunCor El Dorado APSEnergy Services and Pinnacle West Energy. Pinnacle West Capital Corp. has a market cap of $3.37 billion; its shares were traded at around $34.29 with a P/E ratio of 14.4 and P/S ratio of 0.96. The dividend yield of Pinnacle West Capital Corp. stocks is 6.27%.

Added: Bank of America Corp. (BAC)

John Hussman added to his holdings in Bank of America Corp. by 60%. His purchase prices were between $11.21 and $23.63, with an estimated average price of $17.3. The impact to his portfolio due to this purchase was 0.06%. His holdings were 400,000 shares as of 12/31/2008.

Bank of America Corp. is one of the world's leading financial services companies. Bank of America provides individuals small businesses and commercial corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever wherever and however they choose. Bank of America Corp. has a market cap of $33.02 billion; its shares were traded at around $6.89 with a P/E ratio of 10.7 and P/S ratio of 0.45. The dividend yield of Bank of America Corp. stocks is 19.45%. Bank of America Corp. had an annual average earning growth of 7.5% over the past 10 years.

Added: AngloGold Ashanti Ltd. (AU)

John Hussman added to his holdings in AngloGold Ashanti Ltd. by 48.15%. His purchase prices were between $15.1 and $27.11, with an estimated average price of $20.5. The impact to his portfolio due to this purchase was 0.05%. His holdings were 200,000 shares as of 12/31/2008.

AngloGold Limited is the largest gold producer at 7 million ounces a year with reserves of 126 m oz. The company has operations in six countries on three continents some of which are joint ventures as well as exploration activities in ten countries. AngloGold can be financially characterized by high cash generation substantial reinvestment in long-term growth and the payment of significant dividends. The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market particularly in Asia. AngloGold Ashanti Ltd. has a market cap of $8.06 billion; its shares were traded at around $28.12 with and P/S ratio of 2.32. The dividend yield of AngloGold Ashanti Ltd. stocks is 0.48%.

Added: Scana Corp. (SCG)

John Hussman added to his holdings in Scana Corp. by 36.99%. His purchase prices were between $29.63 and $35.43, with an estimated average price of $33.1. The impact to his portfolio due to this purchase was 0.03%. His holdings were 100,000 shares as of 12/31/2008.

SCANA Corporation is an energy-based holding company whose businesses include regulated electric and natural gas utility operations telecommunications and other non-regulated energy-related businesses. SCANA?s subsidiaries serve electric customers in South Carolina North Carolina and Georgia. Scana Corp. has a market cap of $4.04 billion; its shares were traded at around $34.68 with a P/E ratio of 11.4 and P/S ratio of 0.87. The dividend yield of Scana Corp. stocks is 5.37%. Scana Corp. had an annual average earning growth of 4.2% over the past 10 years. GuruFocus rated Scana Corp. the business predictability rank of 3-star.

Added: DPL Inc. (DPL)

John Hussman added to his holdings in DPL Inc. by 33.33%. His purchase prices were between $19.6 and $22.51, with an estimated average price of $21.3. The impact to his portfolio due to this purchase was 0.03%. His holdings were 200,000 shares as of 12/31/2008.

DPL Inc. is a holding company. Its principal subsidiary is The Dayton Power and Light Company. The Dayton Power and Light Company sells electricity and natural gas to residential commercial and governmental customers in West Central Ohio. Principal industries served include electrical machinery automotive and other transportation equipment non-electrical machinery agriculture paper and rubber and plastic products. DPL Inc. has a market cap of $2.5 billion; its shares were traded at around $22.47 with a P/E ratio of 12.8 and P/S ratio of 1.65. The dividend yield of DPL Inc. stocks is 5.1%. DPL Inc. had an annual average earning growth of 2.2% over the past 10 years.

Added: Pepco Holdings Inc. (POM)

John Hussman added to his holdings in Pepco Holdings Inc. by 33.33%. His purchase prices were between $16.58 and $20.32, with an estimated average price of $17.6. The impact to his portfolio due to this purchase was 0.03%. His holdings were 200,000 shares as of 12/31/2008.

Pepco Holdings Inc. is an energy holding company. Pepco has been providing reliable electric service for more than one hundred years. Today they deliver electricity to homes and businesses in the District of Columbia and its Maryland suburbs. Pepco Holdings Inc. has a market cap of $3.6 billion; its shares were traded at around $18.59 with a P/E ratio of 9.4 and P/S ratio of 0.38. The dividend yield of Pepco Holdings Inc. stocks is 6.06%.

Added: Compania de Minas Buenaventura S.A. (BVN)

John Hussman added to his holdings in Compania de Minas Buenaventura S.A. by 33.33%. His purchase prices were between $11.09 and $18.63, with an estimated average price of $15.2. The impact to his portfolio due to this purchase was 0.03%. His holdings were 200,000 shares as of 12/31/2008.

COMPA??A DE MINAS BUENAVENTURA is a leading mining company producing precious metals and holding mining rights in Peru. Since its inception in 1953 Buenaventura has focused on exploration and exploitation activities both by its own and through joint ventures. Buenaventura also is an important shareholder of Minera Yanacocha S.R.L. one of the leading gold producers in Latin America. Compania de Minas Buenaventura S.A. has a market cap of $4.79 billion; its shares were traded at around $20.59 with a P/E ratio of 8.4 and P/S ratio of 6.42. The dividend yield of Compania de Minas Buenaventura S.A. stocks is 1.02%. Compania de Minas Buenaventura S.A. had an annual average earning growth of 40.4% over the past 5 years.

New Purchase: Apple Inc. (AAPL)

John Hussman initiated holdings in Apple Inc.. His purchase prices were between $82.58 and $107.59, with an estimated average price of $94.2. The impact to his portfolio due to this purchase was 2.92%. His holdings were 1,150,000 shares as of 12/31/2008.

Apple Computer Inc. designs manufactures and markets personal computers and related personal computing and communicating solutions for sale primarily to education creative consumer and business customers. Apple Inc. has a market cap of $80.12 billion; its shares were traded at around $102.51 with a P/E ratio of 17.2 and P/S ratio of 2.47. Apple Inc. had an annual average earning growth of 90.5% over the past 5 years.

New Purchase: Target Corp. (TGT)

John Hussman initiated holdings in Target Corp.. His purchase prices were between $28.08 and $39.92, with an estimated average price of $34.8. The impact to his portfolio due to this purchase was 2.05%. His holdings were 2,000,000 shares as of 12/31/2008.

Target Corporation operates large-format general merchandise and food discount stores in the United States which include Target and SuperTarget stores. They offer both everyday essentials and fashionable differentiated merchandise at exceptional prices. Their ability to deliver a shopping experience that is preferred by their guests is supported by their strong supply chain and technology infrastructure. They operate as a single business segment. Their credit card operations represent an integral component of their core retail business. They also operate a fully integrated online business Target.com. Although Target.com is small relative to their overall size its sales are growing at a much more rapid pace than their in-store sales and it provides important benefits to their stores and credit card operations. Target Corp. has a market cap of $23.49 billion; its shares were traded at around $32.73 with a P/E ratio of 9.4 and P/S ratio of 0.38. The dividend yield of Target Corp. stocks is 2.05%. Target Corp. had an annual average earning growth of 11.6% over the past 10 years. GuruFocus rated Target Corp. the business predictability rank of 5-star.

New Purchase: QUALCOMM Inc. (QCOM)

John Hussman initiated holdings in QUALCOMM Inc.. His purchase prices were between $30.03 and $39.56, with an estimated average price of $34.8. The impact to his portfolio due to this purchase was 1.86%. His holdings were 1,750,000 shares as of 12/31/2008.

QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company's CDMA digital technology. The company's business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems OmniTRACS and OmniExpress. (Company Press Release) QUALCOMM Inc. has a market cap of $57.2 billion; its shares were traded at around $36.65 with a P/E ratio of 18.8 and P/S ratio of 5.13. The dividend yield of QUALCOMM Inc. stocks is 1.85%. QUALCOMM Inc. had an annual average earning growth of 28.9% over the past 10 years.

New Purchase: General Electric Company (GE)

John Hussman initiated holdings in General Electric Company. His purchase prices were between $13.77 and $21.09, with an estimated average price of $17.4. The impact to his portfolio due to this purchase was 1.44%. His holdings were 3,000,000 shares as of 12/31/2008.

General Electric is one of the largest and most diversified industrial corporations in the world. GE is engaged in developing manufacturing and marketing a wide variety of products for the generation transmission distribution control and utilization of electricity. Some of GE's products include major appliances; lighting products; industrial automation products; medical diagnostic imaging equipment; motors; electrical distribution and control equipment; locomotives; power generation and delivery products. General Electric Company has a market cap of $120.76 billion; its shares were traded at around $12.64 with a P/E ratio of 7.7 and P/S ratio of 0.66. The dividend yield of General Electric Company stocks is 10.22%. General Electric Company had an annual average earning growth of 12.7% over the past 10 years. GuruFocus rated General Electric Company the business predictability rank of 3.5-star.

New Purchase: Darden Restaurants Inc. (DRI)

John Hussman initiated holdings in Darden Restaurants Inc.. His purchase prices were between $14.2 and $28.35, with an estimated average price of $20.9. The impact to his portfolio due to this purchase was 1.26%. His holdings were 1,500,000 shares as of 12/31/2008.

Darden Restaurants Inc. is the world's largest casual dining restaurant company based on market share sales and number of company-owned and operated restaurants. Darden through its subsidiaries engages in the ownership and operation of casual dining restaurants in the United States and Canada. Darden Restaurants Inc. has a market cap of $3.64 billion; its shares were traded at around $28.6 with a P/E ratio of 9.9 and P/S ratio of 0.55. The dividend yield of Darden Restaurants Inc. stocks is 3.05%. Darden Restaurants Inc. had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Darden Restaurants Inc. the business predictability rank of 4.5-star.

New Purchase: Hasbro Inc. (HAS)

John Hussman initiated holdings in Hasbro Inc.. His purchase prices were between $24.25 and $29.68, with an estimated average price of $27.6. The impact to his portfolio due to this purchase was 1.08%. His holdings were 1,250,000 shares as of 12/31/2008.

Hasbro Inc. is a worldwide leader in children's and family leisure time andentertainment products and services including the design manufacture andmarketing of games and toys ranging from traditional to high-tech. Bothinternationally and in the U.S. its PLAYSKOOL KENNER TONKA ODDZON SUPER SOAKER MILTON BRADLEY PARKER BROTHERS TIGER HASBRO INTERACTIVEMICROPROSE GALOOB and WIZARDS OF THE COAST brands and products provide what the company believes to be the highest quality and most recognizable play experiences in the world. (PRESS RELEASE) Hasbro Inc. has a market cap of $3.36 billion; its shares were traded at around $25.07 with a P/E ratio of 11.5 and P/S ratio of 0.88. The dividend yield of Hasbro Inc. stocks is 3.32%. Hasbro Inc. had an annual average earning growth of 4.4% over the past 10 years.

New Purchase: Adobe Systems Inc. (ADBE)

John Hussman initiated holdings in Adobe Systems Inc.. His purchase prices were between $21.08 and $28.18, with an estimated average price of $23.7. The impact to his portfolio due to this purchase was 0.95%. His holdings were 1,500,000 shares as of 12/31/2008.

Adobe Systems Incorporated is a provider of graphic design publishing and imaging software for Web and print production. It offers a market-leading line of application software products for creating distributing and managing information of all types. The company license its industry-standard technologies to major hardware manufacturers software developers and service providers and offer integrated software solutions to businesses of all sizes. Adobe Systems Inc. has a market cap of $10.25 billion; its shares were traded at around $21.42 with a P/E ratio of 10.5 and P/S ratio of 2.86. Adobe Systems Inc. had an annual average earning growth of 15% over the past 10 years. GuruFocus rated Adobe Systems Inc. the business predictability rank of 4.5-star.

New Purchase: SunPower Corp. (SPWRA)

John Hussman initiated holdings in SunPower Corp.. His purchase prices were between $20.59 and $46.86, with an estimated average price of $35. The impact to his portfolio due to this purchase was 0.88%. His holdings were 800,000 shares as of 12/31/2008.

SunPower Corp. designs and manufactures high-efficiency silicon solar cells and solar panels based on an all-back contact cell design. SunPower's solar cells and panels generate electricity from sunlight for residential commercial and remote power applications. Its proprietary all back contact silicon solar cell technology produces more power per square foot compared to conventional solar cells. SunPower Corp. has a market cap of $2.88 billion; its shares were traded at around $35.94 with a P/E ratio of 23 and P/S ratio of 3.72.

New Purchase: American Express Company (AXP)

John Hussman initiated holdings in American Express Company. His purchase prices were between $17.76 and $27.27, with an estimated average price of $21.9. The impact to his portfolio due to this purchase was 0.77%. His holdings were 1,400,000 shares as of 12/31/2008.

American Express Company is primarily engaged in the business of providing travel related services financial advisory services and international banking services throughout the world. American Express Travel Related Services Company Inc. provides a variety of products and services including global network services the American Express Card the Optima Card and other consumer and corporate lending products stored value products and several others. American Express Company has a market cap of $19.41 billion; its shares were traded at around $17.75 with a P/E ratio of 7.1 and P/S ratio of 0.68. The dividend yield of American Express Company stocks is 4.3%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.

New Purchase: Altera Corp. (ALTR)

John Hussman initiated holdings in Altera Corp.. His purchase prices were between $13.91 and $17.44, with an estimated average price of $15.6. The impact to his portfolio due to this purchase was 0.74%. His holdings were 1,500,000 shares as of 12/31/2008.

Altera Corporation designs manufactures and markets a broad range of high-performance high-density programmable logic devices and associated development tools focusing on ease of use lower risk and fast time-to-market. Altera's solution to customer needs includes a combination of silicon and software products. The company sells the widest range of product families allowing customers to find the density speed and package type to meet almost any need. Altera Corp. has a market cap of $4.57 billion; its shares were traded at around $16.4 with a P/E ratio of 12.7 and P/S ratio of 3.35. The dividend yield of Altera Corp. stocks is 1.3%. Altera Corp. had an annual average earning growth of 9.3% over the past 5 years.

New Purchase: Novartis AG (NVS)

John Hussman initiated holdings in Novartis AG. His purchase prices were between $43.85 and $50.99, with an estimated average price of $47.7. The impact to his portfolio due to this purchase was 0.74%. His holdings were 500,000 shares as of 12/31/2008.

Novartis AG is committed to improving health and well-being through innovative products and services. The company aspires to capture and hold a leadership position in all of their businesses with a strong sustainable performance based on continuous innovation. Their long-term success is founded on meeting the expectations of all our stakeholders - their customers their people their shareholders and the communities in which they live and work. Novartis AG has a market cap of $93.38 billion; its shares were traded at around $42.4 with a P/E ratio of 11.6 and P/S ratio of 2.25. The dividend yield of Novartis AG stocks is 3.16%. Novartis AG had an annual average earning growth of 8.9% over the past 10 years.

New Purchase: McCormick & Company Inc. (MKC)

John Hussman initiated holdings in McCormick & Company Inc.. His purchase prices were between $29.21 and $34.2, with an estimated average price of $31.3. The impact to his portfolio due to this purchase was 0.71%. His holdings were 750,000 shares as of 12/31/2008.

McCormick & Company a diversified specialty food company is a globalleader in the manufacture marketing and distribution of spices herbsseasonings flavorings and other specialty food products to the entire foodindustry. The company also through subsidiary corporations manufactures and markets specialty plastic bottles and tubes for food personal care and other industries. The company operates in three business segments: consumer; industrial; and packaging. McCormick & Company Inc. has a market cap of $4.17 billion; its shares were traded at around $32.68 with a P/E ratio of 14.8 and P/S ratio of 1.31. The dividend yield of McCormick & Company Inc. stocks is 3%. McCormick & Company Inc. had an annual average earning growth of 10.1% over the past 10 years. GuruFocus rated McCormick & Company Inc. the business predictability rank of 5-star.

New Purchase: BJ's Wholesale Club Inc. (BJ)

John Hussman initiated holdings in BJ's Wholesale Club Inc.. His purchase prices were between $31.17 and $39.42, with an estimated average price of $34.8. The impact to his portfolio due to this purchase was 0.7%. His holdings were 687,000 shares as of 12/31/2008.

BJS Warehouse offers an assortment of brand name food and generalmerchandise items within a wide range of product categories. In order toachieve high sales volumes and rapid inventory turnover merchandise selections are generally limited to items that are brand name leaders in their categories. Since warehouse clubs sell a diversified selection of product categories the company attracts customers from a wide range of other wholesale and retail distribution channels such as supermarkets supercenters department stores drug stores and discount stores. BJ's Wholesale Club Inc. has a market cap of $1.69 billion; its shares were traded at around $30.13 with a P/E ratio of 13.2 and P/S ratio of 0.19. BJ's Wholesale Club Inc. had an annual average earning growth of 4.3% over the past 10 years.

New Purchase: Zimmer Holdings Inc. (ZMH)

John Hussman initiated holdings in Zimmer Holdings Inc.. His purchase prices were between $37.29 and $56.82, with an estimated average price of $42.9. The impact to his portfolio due to this purchase was 0.6%. His holdings were 500,000 shares as of 12/31/2008.

Zimmer is a global leader in the design development manufacturing and market of reconstructive orthopaedic implants and fracture management products. Orthopaedic reconstruction implants restore joint function lost to disease or trauma in joints such as knees hips shoulders and elbows. Fracture management products are devices used primarily to reattach or stabilize damaged bone and tissue to support the body's natural healing process. Zimmer Holdings Inc. has a market cap of $8.17 billion; its shares were traded at around $40.18 with a P/E ratio of 9 and P/S ratio of 1.98. Zimmer Holdings Inc. had an annual average earning growth of 24.6% over the past 5 years.

New Purchase: Alcon Inc. (ACL)

John Hussman initiated holdings in Alcon Inc.. His purchase prices were between $71.9 and $139.17, with an estimated average price of $93. The impact to his portfolio due to this purchase was 0.53%. His holdings were 200,000 shares as of 12/31/2008.

Alcon Inc. is the world's leading eye care company. Alcon which has been dedicated to the ophthalmic industry for sixty years researches develops manufactures and markets pharmaceuticals surgical equipment and devices contact lens care solutions and other vision care products that treat diseases disorders and other conditions of the eye. Alcon's majority shareholder is Nestle S.A. the world's largest food company. All trademarks noted in this release are the property of Alcon Inc. with the exception of Ciprodex which is a registered trademark of Bayer AG and licensed to Alcon Inc. by Bayer Healthcare AG. Moxifloxacin is licensed to Alcon Inc. by Bayer Healthcare AG. Alcon Inc. has a market cap of $25.64 billion; its shares were traded at around $82.8 with a P/E ratio of 14.7 and P/S ratio of 4.58. The dividend yield of Alcon Inc. stocks is 2.93%. Alcon Inc. had an annual average earning growth of 21.2% over the past 5 years.

New Purchase: Oracle Corp. (ORCL)

John Hussman initiated holdings in Oracle Corp.. His purchase prices were between $16.09 and $18.29, with an estimated average price of $17. The impact to his portfolio due to this purchase was 0.53%. His holdings were 1,000,000 shares as of 12/31/2008.

Oracle Corporation is one of the world's leading suppliers of software for information management. The company develops manufactures markets and distributes computer software that helps corporations manage and grow their businesses. The company's software products can be categorized intotwo broad areas: Systems software and Internet business applications software. Oracle Corp. has a market cap of $86.75 billion; its shares were traded at around $18.05 with a P/E ratio of 12.3 and P/S ratio of 3.87. Oracle Corp. had an annual average earning growth of 18.2% over the past 10 years. GuruFocus rated Oracle Corp. the business predictability rank of 4-star.

New Purchase: Polo Ralph Lauren Corp. (RL)

John Hussman initiated holdings in Polo Ralph Lauren Corp.. His purchase prices were between $36 and $49.49, with an estimated average price of $44.4. The impact to his portfolio due to this purchase was 0.51%. His holdings were 375,000 shares as of 12/31/2008.

Polo Ralph Lauren Corp. is in the design marketing and distribution of premium lifestyle products. The company's brand names which include Polo Polo by Ralph Lauren Ralph Lauren Purple Label Polo Sport Ralph Lauren RALPH Lauren Polo Jeans Co. RL Chaps and Club Monaco among others constitute one of the world's most widely recognized families of consumer brands. Polo Ralph Lauren Corp. has a market cap of $4.05 billion; its shares were traded at around $40.14 with a P/E ratio of 8.5 and P/S ratio of 0.87. The dividend yield of Polo Ralph Lauren Corp. stocks is 0.49%. Polo Ralph Lauren Corp. had an annual average earning growth of 12.4% over the past 10 years. GuruFocus rated Polo Ralph Lauren Corp. the business predictability rank of 4-star.

New Purchase: The Estee Lauder Companies Inc. (EL)

John Hussman initiated holdings in The Estee Lauder Companies Inc.. His purchase prices were between $25.13 and $38.94, with an estimated average price of $31.2. The impact to his portfolio due to this purchase was 0.46%. His holdings were 500,000 shares as of 12/31/2008.

Estee Lauder Co. is one of the world's leading manufacturers and marketers of quality skin care makeup fragrance and hair care products. Its products are sold in numerous countries and territories under the following well-recognized brand names: Estee Lauder Clinique Aramis Prescriptives Origins M.A.C Bobbi Brown essentials La Mer jane Aveda Stila Jo Malone and Bumble and bumble. The company is also the global licensee for fragrances and cosmetics sold under the TommyHilfiger Donna Karan and Kate Spade brands. The Estee Lauder Companies Inc. has a market cap of $5.15 billion; its shares were traded at around $28.73 with a P/E ratio of 10.9 and P/S ratio of 0.65. The dividend yield of The Estee Lauder Companies Inc. stocks is 2.1%. The Estee Lauder Companies Inc. had an annual average earning growth of 8.2% over the past 10 years. GuruFocus rated The Estee Lauder Companies Inc. the business predictability rank of 3-star.

New Purchase: Ross Stores Inc. (ROST)

John Hussman initiated holdings in Ross Stores Inc.. His purchase prices were between $23.57 and $32.58, with an estimated average price of $28.3. The impact to his portfolio due to this purchase was 0.44%. His holdings were 500,000 shares as of 12/31/2008.

Ross Stores Inc. operates a chain of off-price retail apparel and home accessories stores which target value conscious men and women between the ages of 25 and 54 in middle-to-upper middle income households. The decisions of the company from merchandising purchasing and pricing to the location of its stores are aimed at this customer base. The company offers brand name and designer merchandise at low everyday prices generally below regular prices of most department and specialty stores. Ross Stores Inc. has a market cap of $3.81 billion; its shares were traded at around $32.29 with a P/E ratio of 12.8 and P/S ratio of 0.64. The dividend yield of Ross Stores Inc. stocks is 1.29%. Ross Stores Inc. had an annual average earning growth of 8.6% over the past 10 years. GuruFocus rated Ross Stores Inc. the business predictability rank of 4.5-star.

New Purchase: 3M Company (MMM)

John Hussman initiated holdings in 3M Company. His purchase prices were between $53.82 and $66.93, with an estimated average price of $59.7. The impact to his portfolio due to this purchase was 0.43%. His holdings were 250,000 shares as of 12/31/2008.

3M Company is a diversified technology company with leading positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety security and protection services; transportation and other businesses. They are an integrated enterprise characterized by substantial intercompany cooperation in research manufacturing and marketing of products. 3M Company has a market cap of $37.27 billion; its shares were traded at around $54.11 with a P/E ratio of 10.8 and P/S ratio of 1.48. The dividend yield of 3M Company stocks is 3.72%. 3M Company had an annual average earning growth of 9.6% over the past 10 years. GuruFocus rated 3M Company the business predictability rank of 2-star.

New Purchase: Tupperware Brands Corp. (TUP)

John Hussman initiated holdings in Tupperware Brands Corp.. His purchase prices were between $15.85 and $24.99, with an estimated average price of $20.1. The impact to his portfolio due to this purchase was 0.42%. His holdings were 617,000 shares as of 12/31/2008.

Tupperware Brands Corporation is a global direct seller of premium innovative products across multiple brands and categories through an independent sales force. Product brands and categories include design-centric preparation storage and serving solutions for the kitchen and home through the Tupperware brand and beauty and personal care products through its Avroy Shlain BeautiControl Fuller NaturCare Nutrimetics Nuvo and Swissgarde brands. Tupperware Brands Corp. has a market cap of $1.27 billion; its shares were traded at around $18.62 with a P/E ratio of 7.4 and P/S ratio of 0.64. The dividend yield of Tupperware Brands Corp. stocks is 4.28%. Tupperware Brands Corp. had an annual average earning growth of 1.2% over the past 10 years.

New Purchase: Mosaic Company The (MOS)

John Hussman initiated holdings in Mosaic Company The. His purchase prices were between $24.9 and $39.3, with an estimated average price of $32.2. The impact to his portfolio due to this purchase was 0.41%. His holdings were 400,000 shares as of 12/31/2008.

The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. For the global agriculture industry Mosaic is a single source for phosphates potash nitrogen fertilizers and feed ingredients. Mosaic Company The has a market cap of $15.85 billion; its shares were traded at around $45.64 with a P/E ratio of 5 and P/S ratio of 1.61. The dividend yield of Mosaic Company The stocks is 0.56%.

New Purchase: Nordstrom Inc. (JWN)

John Hussman initiated holdings in Nordstrom Inc.. His purchase prices were between $7.68 and $18.08, with an estimated average price of $13.6. The impact to his portfolio due to this purchase was 0.4%. His holdings were 1,000,000 shares as of 12/31/2008.

Nordstrom Inc. is one of the nation's leading fashion specialty retailers with stores located in a number of states including full-line stores Nordstrom Racks Faconnable boutiques and free-standing shoe stores. Nordstrom also operates Faconnable boutiques throughout Europe. Additionally Nordstrom serves customers through its online presence and through its direct mail catalogs. (Company Press Release) Nordstrom Inc. has a market cap of $2.73 billion; its shares were traded at around $13.85 with a P/E ratio of 5.1 and P/S ratio of 0.31. The dividend yield of Nordstrom Inc. stocks is 5.04%. Nordstrom Inc. had an annual average earning growth of 20.2% over the past 10 years.

New Purchase: Southwest Airlines Co. (LUV)

John Hussman initiated holdings in Southwest Airlines Co.. His purchase prices were between $7.3 and $12.18, with an estimated average price of $9.8. The impact to his portfolio due to this purchase was 0.38%. His holdings were 1,500,000 shares as of 12/31/2008.

Southwest Airlines is a major domestic airline that provides primarily shorthaul high-frequency point-to-point low-fare service. Southwest operates over Boeing 737 aircraft in numerous cities. Southwest has the lowest operating cost structure in the domestic airline industry and consistently offers the lowest and simplest fares. Southwest also has one of the best overall Customer Service records. Southwest Airlines Co. has a market cap of $5.2 billion; its shares were traded at around $7.18 with a P/E ratio of 17.7 and P/S ratio of 0.47. The dividend yield of Southwest Airlines Co. stocks is 0.26%. Southwest Airlines Co. had an annual average earning growth of 4.3% over the past 10 years. GuruFocus rated Southwest Airlines Co. the business predictability rank of 2-star.

New Purchase: Cypress Semiconductor Corp. (CY)

John Hussman initiated holdings in Cypress Semiconductor Corp.. His purchase prices were between $2.97 and $5.01, with an estimated average price of $4.1. The impact to his portfolio due to this purchase was 0.33%. His holdings were 2,500,000 shares as of 12/31/2008.

Cypress Semiconductor Corporation designs develops manufactures andmarkets a broad line of high-performance digital and mixed-signal integrated circuits for a range of markets including data communications telecommunications computers and instrumentation systems. The company sells the products to a wide range of customers including Lucent Technologies Inc. Motorola Inc. Nortel Networks Corporation Seagate Technology Inc. Compaq Computer Corporation 3Com Corporation IBM Cisco Systems Inc. and Sony Corporation. Cypress Semiconductor Corp. has a market cap of $653.12 million; its shares were traded at around $5.08 with and P/S ratio of 0.85.

New Purchase: Paychex Inc. (PAYX)

John Hussman initiated holdings in Paychex Inc.. His purchase prices were between $23.89 and $28.19, with an estimated average price of $26.1. The impact to his portfolio due to this purchase was 0.33%. His holdings were 425,000 shares as of 12/31/2008.

Paychex Inc. is a national provider of payroll human resource and employee benefit outsourcing solutions for small-to medium-sized businesses. The company has two reportable business segments: Payroll and Human Resource Services and Professional Employer Organization. Paychex's Payroll segment is a national payroll processing and payroll taxpreparation service provided to small-to medium-sized business. The Professional Employer Organization segment provides human resource products and services. Paychex Inc. has a market cap of $8.76 billion; its shares were traded at around $26.53 with a P/E ratio of 15.2 and P/S ratio of 4.24. The dividend yield of Paychex Inc. stocks is 5.1%. Paychex Inc. had an annual average earning growth of 17.8% over the past 10 years. GuruFocus rated Paychex Inc. the business predictability rank of 5-star.

New Purchase: Steel Dynamics Inc. (STLD)

John Hussman initiated holdings in Steel Dynamics Inc.. His purchase prices were between $6.04 and $11.81, with an estimated average price of $9.2. The impact to his portfolio due to this purchase was 0.33%. His holdings were 1,000,000 shares as of 12/31/2008.

Steel Dynamics Inc. owns and operates a flat-rolled steel mini-mill. Steel Dynamics operates in the production and sale of hot-rolled and cold-rolled steel coils. The company's customers consist of intermediate steel processors steel service centers and end users including manufacturers of cold-rolled strip oil and gas transmission pipe and mechanical and structural tubing. Steel Dynamics Inc. has a market cap of $1.93 billion; its shares were traded at around $13.35 with a P/E ratio of 4.5 and P/S ratio of 0.24. The dividend yield of Steel Dynamics Inc. stocks is 3.77%. Steel Dynamics Inc. had an annual average earning growth of 31.9% over the past 10 years. GuruFocus rated Steel Dynamics Inc. the business predictability rank of 2.5-star.

New Purchase: Caterpillar Inc. (CAT)

John Hussman initiated holdings in Caterpillar Inc.. His purchase prices were between $32.94 and $42.26, with an estimated average price of $38.8. The impact to his portfolio due to this purchase was 0.33%. His holdings were 250,000 shares as of 12/31/2008.

Caterpillar Inc is the world's largest manufacturer of construction and mining equipment diesel and natural gas engines and industrial gas turbines. The company is one of only a handful of U.S. companies that leads its industry while competing globally from a principally domestic manufacturing base. The company records more than half of its sales to overseas customers. Their products are used in the construction road building mining forestry energy transportation and material-handling industries. Caterpillar Inc. has a market cap of $18.61 billion; its shares were traded at around $32.72 with a P/E ratio of 5.4 and P/S ratio of 0.36. The dividend yield of Caterpillar Inc. stocks is 5.45%. Caterpillar Inc. had an annual average earning growth of 11.2% over the past 10 years.

New Purchase: Whirlpool Corp. (WHR)

John Hussman initiated holdings in Whirlpool Corp.. His purchase prices were between $31.97 and $66.2, with an estimated average price of $45.3. The impact to his portfolio due to this purchase was 0.31%. His holdings were 250,000 shares as of 12/31/2008.

Whirlpool Corp. manufactures and markets a full line of major appliances and related products primarily for home use. The company's principal products are home laundry appliances home refrigerators and freezers home cooking appliances home dishwashers room air-conditioning equipment and mixers and other small household appliances. The company also produces hermetic compressors and plastic components primarilyfor the home appliance and electronics industries. Whirlpool Corp. has a market cap of $2.46 billion; its shares were traded at around $37.13 with a P/E ratio of 4.7 and P/S ratio of 0.13. The dividend yield of Whirlpool Corp. stocks is 5.15%. Whirlpool Corp. had an annual average earning growth of 5.7% over the past 10 years. GuruFocus rated Whirlpool Corp. the business predictability rank of 2.5-star.

New Purchase: IDEXX Laboratories Inc. (IDXX)

John Hussman initiated holdings in IDEXX Laboratories Inc.. His purchase prices were between $28.54 and $41.33, with an estimated average price of $33.8. The impact to his portfolio due to this purchase was 0.27%. His holdings were 250,000 shares as of 12/31/2008.

IDEXX Laboratories Inc. is a world leader in providing diagnostic detection and information products to the animal health industry as well as quality assurance products and services to the food and water industries. IDEXX Laboratories Inc. has a market cap of $1.95 billion; its shares were traded at around $34.59 with a P/E ratio of 17.2 and P/S ratio of 2.12. IDEXX Laboratories Inc. had an annual average earning growth of 17% over the past 5 years.

New Purchase: P.F.Chang's China Bistro Inc. (PFCB)

John Hussman initiated holdings in P.F.Chang's China Bistro Inc.. His purchase prices were between $15.91 and $22.53, with an estimated average price of $19.2. The impact to his portfolio due to this purchase was 0.25%. His holdings were 400,000 shares as of 12/31/2008.

PF CHANGS CHINA owns and operates full service restaurants that feature traditional Chinese cuisine and American hospitality in a contemporary bistro setting. Their restaurants offer culinary creations prepared from fresh ingredients including premium herbs and spices imported directly from China. The menu is focused on select dishes created to capture the distinct flavors and styles of the five major culinary regions of China: Canton Hunan Mongolia Shanghai and Szechwan. P.F.Chang's China Bistro Inc. has a market cap of $421.76 million; its shares were traded at around $18.63 with a P/E ratio of 11.9 and P/S ratio of 0.39. P.F.Chang's China Bistro Inc. had an annual average earning growth of 18.6% over the past 10 years. GuruFocus rated P.F.Chang's China Bistro Inc. the business predictability rank of 4.5-star.

New Purchase: LifePoint Hospitals Inc. (LPNT)

John Hussman initiated holdings in LifePoint Hospitals Inc.. His purchase prices were between $19.05 and $23.97, with an estimated average price of $21.9. The impact to his portfolio due to this purchase was 0.25%. His holdings were 375,000 shares as of 12/31/2008.

LifePoint Hospitals Inc. is engaged in the operation of general acute care hospitals in non-urban communities. The company's general acute care hospitals usually provide the range of medical and surgical services commonly available in hospitals in non-urban markets. These hospitals also provide diagnostic and emergency services as well as outpatient and ancillary services including outpatient surgery laboratory radiology respiratory therapy and physical therapy. LifePoint Hospitals Inc. has a market cap of $1.2 billion; its shares were traded at around $24.26 with a P/E ratio of 8.9 and P/S ratio of 0.46. LifePoint Hospitals Inc. had an annual average earning growth of 10.1% over the past 5 years.

New Purchase: Mattel Inc. (MAT)

John Hussman initiated holdings in Mattel Inc.. His purchase prices were between $11.09 and $15.46, with an estimated average price of $13.7. The impact to his portfolio due to this purchase was 0.24%. His holdings were 500,000 shares as of 12/31/2008.

Mattel Inc. designs manufactures and markets a broad variety of family products on a worldwide basis through both sales to retailers anddirect to consumers. Mattel's business is dependent in great part on itsability each year to redesign restyle and extend existing core products and product lines to design and develop innovative new products and product lines and successfully market those products and product lines. Mattel Inc. has a market cap of $5.09 billion; its shares were traded at around $13.11 with a P/E ratio of 10.9 and P/S ratio of 0.85. The dividend yield of Mattel Inc. stocks is 5.29%. Mattel Inc. had an annual average earning growth of 2.4% over the past 5 years.

New Purchase: Avery Dennison Corp. (AVY)

John Hussman initiated holdings in Avery Dennison Corp.. His purchase prices were between $26.67 and $34.56, with an estimated average price of $31.3. The impact to his portfolio due to this purchase was 0.24%. His holdings were 250,000 shares as of 12/31/2008.

Avery Dennision Corporation produces pressure-sensitive adhesives and materials and the production of consumer and converted products. Some pressure-sensitive adhesives and materials are ``converted`` into labels and other products through embossing printing stamping and die-cutting and some are sold in unconverted form as base materials tapes and reflective sheeting. The company also manufactures and sells a variety of consumer and converted products and other items not involving pressure-sensitive components such as notebooks three-ring binders among others. Avery Dennison Corp. has a market cap of $2.58 billion; its shares were traded at around $24.72 with a P/E ratio of 7.9 and P/S ratio of 0.38. The dividend yield of Avery Dennison Corp. stocks is 6.77%. Avery Dennison Corp. had an annual average earning growth of 4.4% over the past 10 years. GuruFocus rated Avery Dennison Corp. the business predictability rank of 4.5-star.

New Purchase: Life Technologies Corp. (LIFE)

John Hussman initiated holdings in Life Technologies Corp.. His purchase prices were between $21.67 and $29.27, with an estimated average price of $25.2. The impact to his portfolio due to this purchase was 0.23%. His holdings were 332,025 shares as of 12/31/2008.

Life Technologies Corporation is a global biotechnology tools company. The company provides product and services that support researchers to accelerate scientific exploration driving to discoveries and developments that make life better. Life Technologies customers do their work across the biological spectrum working to advance personalized medicine regenerative science molecular diagnostics agricultural and environmental research and 21st century forensics. The company has a presence in more than 100 countries and possesses a rapidly growing intellectual property estate of over 3600 patents and exclusive licenses.Life Technologies was created by the combination of Invitrogen Corporation and Applied Biosystems Inc. Life Technologies Corp. has a market cap of $2.35 billion; its shares were traded at around $28.5 with a P/E ratio of 9.9 and P/S ratio of 1.83.

New Purchase: Wells Fargo & Company (WFC)

John Hussman initiated holdings in Wells Fargo & Company. His purchase prices were between $21.36 and $33.1, with an estimated average price of $28.3. The impact to his portfolio due to this purchase was 0.22%. His holdings were 250,000 shares as of 12/31/2008.

Wells Fargo & Company is a diversified financial services company providing banking insurance investments mortgage and consumer finance services through stores its Internet site and other distribution channels across North America as well as internationally. (Company Press Release) Wells Fargo & Company has a market cap of $70.47 billion; its shares were traded at around $19.06 with a P/E ratio of 22.7 and P/S ratio of 1.36. The dividend yield of Wells Fargo & Company stocks is 7.2%. Wells Fargo & Company had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Wells Fargo & Company the business predictability rank of 4-star.

New Purchase: Bunge Ltd. (BG)

John Hussman initiated holdings in Bunge Ltd.. His purchase prices were between $34.46 and $48.07, with an estimated average price of $40.8. The impact to his portfolio due to this purchase was 0.16%. His holdings were 105,000 shares as of 12/31/2008.

Bunge Ltd. is an integrated global agribusiness and food company spanning the farm-to-consumer food chain. Bunge processes produces moves distributes and markets food on five continents. Bunge Ltd. has a market cap of $5.22 billion; its shares were traded at around $51.87 with a P/E ratio of 4.3 and P/S ratio of 0.12. The dividend yield of Bunge Ltd. stocks is 1.77%. Bunge Ltd. had an annual average earning growth of 2.7% over the past 5 years.

New Purchase: CommScope Inc. (CTV)

John Hussman initiated holdings in CommScope Inc.. His purchase prices were between $8.55 and $22.9, with an estimated average price of $14.8. The impact to his portfolio due to this purchase was 0.12%. His holdings were 250,000 shares as of 12/31/2008.

Commscope Inc. is a world leader in infrastructure solutions for communication networks. Through its SYSTIMAX Solutions and Uniprise Solutions brands CommScope is the global leader in structured cabling systems for business enterprise applications. It is also the world's largest manufacturer of coaxial cable for Hybrid Fiber Coaxial applications. Backed by strong research and development CommScope combines technical expertise and proprietary technology with global manufacturing capability to provide customers with high-performance wired or wireless cabling solutions. CommScope Inc. has a market cap of $1.01 billion; its shares were traded at around $14.59 with a P/E ratio of 4.3 and P/S ratio of 0.53. CommScope Inc. had an annual average earning growth of 2.1% over the past 10 years.

New Purchase: (BASFY.PK)

John Hussman initiated holdings in . The impact to his portfolio due to this purchase was 0.09%. His holdings were 76,800 shares as of 12/31/2008.

BASF AG is the world's leading chemical company. We aim to increase and sustain our corporate value through growth and innovation. In doing so one of our major strengths is our distinctive approach to integration. Through growth and innovation BASF strives towards attaining appreciation of its corporate value on a sustained basis. Innovations are a decisive tool for BASF when it comes to shaping an promising and profitable future..

New Purchase: Celldex Therapeutics Inc (CLDX)

John Hussman initiated holdings in Celldex Therapeutics Inc. His purchase prices were between $4.94 and $7.81, with an estimated average price of $6.3. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 13,000 shares as of 12/31/2008.

CELLDEX THERAPEUTICS is an integrated biopharmaceutical company that applies its comprehensive Precision Targeted Immunotherapy Platform to generate a pipeline of candidates to treat cancer and other difficult-to-treat diseases. Celldex?s immunotherapy platform includes a complementary portfolio of monoclonal antibodies antibody-targeted vaccines and immunomodulators to create novel disease-specific drug candidates. Celldex Therapeutics Inc has a market cap of $116.71 million; its shares were traded at around $11.5 with and P/S ratio of 22.87.

Reduced: Cabot Microelectronics Corp. (CCMP)

John Hussman reduced to his holdings in Cabot Microelectronics Corp. by 41.64%. His sale prices were between $21.79 and $28.73, with an estimated average price of $25.1. The impact to his portfolio due to this sale was -0.1%. John Hussman still held 291,800 shares as of 12/31/2008.

Cabot Microelectronics Corp. is a leading supplier of slurries used in chemical mechanical planarization a polishing process used in the manufacturing of integrated circuit devices. Chemical mechanical planarization is an important part of the integrated circuit device manufacturing process because it helps manufacturers make smaller faster and more complex integrated circuit devices. Chemical mechanical planarization slurries are liquids containing abrasives and chemicals that facilitate and enhance the mechanical planarization polishing process. Cabot Microelectronics Corp. has a market cap of $528.56 million; its shares were traded at around $25.8 with a P/E ratio of 19.1 and P/S ratio of 1.41.

Reduced: Plantronics Inc. (PLT)

John Hussman reduced to his holdings in Plantronics Inc. by 25.75%. His sale prices were between $10.23 and $16.36, with an estimated average price of $13.3. The impact to his portfolio due to this sale was -0.12%. John Hussman still held 1,188,000 shares as of 12/31/2008.

Plantronics Inc. is a leading designer manufacturer and marketer of lightweight communications headsets and headset accessories and services. In addition the company manufactures and markets specialty telephone products such as amplified telephone handsets and specialty telephones for hearing-impaired users and noise-canceling handsets for use in high-noise environments. Plantronics Inc. has a market cap of $495.99 million; its shares were traded at around $10.15 with a P/E ratio of 8.4 and P/S ratio of 0.58. The dividend yield of Plantronics Inc. stocks is 1.97%. Plantronics Inc. had an annual average earning growth of 2.1% over the past 10 years.

Reduced: AgnicoEagle Mines Ltd. (AEM)

John Hussman reduced to his holdings in AgnicoEagle Mines Ltd. by 55.06%. His sale prices were between $26 and $47.87, with an estimated average price of $35.6. The impact to his portfolio due to this sale was -0.17%. John Hussman still held 200,000 shares as of 12/31/2008.

Agnico-Eagle Mines Limited is an established Canadian gold producer with operations located principally in northwestern Quebec and exploration and development activities in Quebec Ontario and Nevada. Agnico-Eagle is focused on the expansion and large scale exploration program of its LaRonde Mine which is expected to result in increased gold production and expanded gold reserves. (PRESS RELEASE) AgnicoEagle Mines Ltd. has a market cap of $8.21 billion; its shares were traded at around $53.13 with a P/E ratio of 74.7 and P/S ratio of 17.79. The dividend yield of AgnicoEagle Mines Ltd. stocks is 0.34%. AgnicoEagle Mines Ltd. had an annual average earning growth of 85.8% over the past 5 years.

Reduced: NVIDIA Corp. (NVDA)

John Hussman reduced to his holdings in NVIDIA Corp. by 80%. His sale prices were between $6.38 and $8.76, with an estimated average price of $7.6. The impact to his portfolio due to this sale was -0.19%. John Hussman still held 1,000,000 shares as of 12/31/2008.

NVIDIA Corporation designs develops and markets a `top-to-bottom` family of award-winning 3D graphics processors graphics processing units and related software that set the standard for performance quality and features for every type of desktop personal computer user from professional workstations to low-cost computers. NVIDIA Corporation's 3D graphics processors are used in a wide variety of applications including games the Internet and industrial design. NVIDIA Corp. has a market cap of $4.27 billion; its shares were traded at around $9.74 with a P/E ratio of 8.4 and P/S ratio of 1.04. NVIDIA Corp. had an annual average earning growth of 72.3% over the past 5 years.

Reduced: Newmont Mining Corp. (NEM)

John Hussman reduced to his holdings in Newmont Mining Corp. by 48.15%. His sale prices were between $23.75 and $38.85, with an estimated average price of $30.1. The impact to his portfolio due to this sale was -0.2%. John Hussman still held 350,000 shares as of 12/31/2008.

Newmont Mining Corp. is engaged in the production of gold the exploration for gold and the acquisition and development of gold properties worldwide. The company produces gold from mines in Nevada and California and outside of the United States from operations in Peru Indonesia Mexico and Uzbekistan. Newmont Mining Corp. has a market cap of $17.56 billion; its shares were traded at around $40.36 with a P/E ratio of 17.4 and P/S ratio of 3.18. The dividend yield of Newmont Mining Corp. stocks is 1.01%. Newmont Mining Corp. had an annual average earning growth of 4.5% over the past 10 years.

Reduced: Barrick Gold Corp. (ABX)

John Hussman reduced to his holdings in Barrick Gold Corp. by 52.63%. His sale prices were between $19.75 and $35.8, with an estimated average price of $27. The impact to his portfolio due to this sale was -0.26%. John Hussman still held 450,000 shares as of 12/31/2008.

Barrick Gold Corporation is a leading international gold producer with low-cost mines in North and South America. Barrick Gold Corp. has a market cap of $32.7 billion; its shares were traded at around $37.83 with a P/E ratio of 16.9 and P/S ratio of 5.16. The dividend yield of Barrick Gold Corp. stocks is 1.07%. Barrick Gold Corp. had an annual average earning growth of 4.2% over the past 10 years.

Reduced: PepsiCo Inc. (PEP)

John Hussman reduced to his holdings in PepsiCo Inc. by 40%. His sale prices were between $51.36 and $57.35, with an estimated average price of $54.3. The impact to his portfolio due to this sale was -0.49%. John Hussman still held 750,000 shares as of 12/31/2008.

PepsiCo Inc. consists of: Frito-Lay Company Pepsi-Cola Company and Tropicana Products. PepsiCo brands are among the best known and most respected in the world and are available in countries and territories throughout the world. PepsiCo's success is the result of superior products high standards of performance distinctive competitive strategies and the high integrity of its people. PepsiCo Inc. has a market cap of $78.01 billion; its shares were traded at around $51.43 with a P/E ratio of 13.4 and P/S ratio of 1.98. The dividend yield of PepsiCo Inc. stocks is 3.38%. PepsiCo Inc. had an annual average earning growth of 8.4% over the past 10 years. GuruFocus rated PepsiCo Inc. the business predictability rank of 2.5-star.

Sold Out: WellCare Health Plans Inc. (WCG)

John Hussman sold out his holdings in WellCare Health Plans Inc.. His sale prices were between $7.6 and $27.2, with an estimated average price of $16.3. The impact to his portfolio due to this sale was less than 0.01%.

WellCare Health Plans Inc. provides managed care services targeted exclusively to government-sponsored healthcare programs focusing on Medicaid and Medicare. WellCare provides high-quality affordable healthcare services to members in Florida New York Connecticut Illinois and Indiana. WellCare Health Plans Inc. has a market cap of $616.41 million; its shares were traded at around $16.46 with and P/S ratio of 0.11.

Sold Out: Seagate Technology (STX)

John Hussman sold out his holdings in Seagate Technology. His sale prices were between $4.13 and $8.58, with an estimated average price of $5.7. The impact to his portfolio due to this sale was less than 0.01%.

Seagate Technology is the worldwide leader in the design manufacture and marketing of hard disc drives providing products for a wide-range of applications including Enterprise Desktop Mobile Computing Consumer Electronics and Branded Solutions. Seagate's business model leverages technology leadership and world-class manufacturing to deliver industry-leading innovation and quality to its global customers and to be the low cost producer in all markets in which it participates. The company is committed to providing award- winning products customer support and reliability to meet the world's growing demand for information storage. Seagate Technology has a market cap of $1.85 billion; its shares were traded at around $4.36 with a P/E ratio of 3.2 and P/S ratio of 0.15. The dividend yield of Seagate Technology stocks is 12.66%. Seagate Technology had an annual average earning growth of 21.1% over the past 5 years.

Sold Out: SanofiAventis (SNY)

John Hussman sold out his holdings in SanofiAventis. His sale prices were between $25.46 and $32.6, with an estimated average price of $29.2. The impact to his portfolio due to this sale was less than 0.01%.

Sanofi-Synth?labo is a leading global pharmaceutical company. SanofiAventis has a market cap of $74.07 billion; its shares were traded at around $29.2 with a P/E ratio of 5.6 and P/S ratio of 1.91. The dividend yield of SanofiAventis stocks is 4.34%.

Sold Out: Schnitzer Steel Industries Inc. (SCHN)

John Hussman sold out his holdings in Schnitzer Steel Industries Inc.. His sale prices were between $18.45 and $35.32, with an estimated average price of $27.6. The impact to his portfolio due to this sale was less than 0.01%.

Schnitzer Steel Industries Inc. collects processes and recycles metals by operating one of the largest metals recycling businesses in the United States. They also manufacture finished steel products at their technologically advanced steel mini-mill. Schnitzer Steel Industries Inc. has a market cap of $1.1 billion; its shares were traded at around $45.75 with a P/E ratio of 5.9 and P/S ratio of 0.3. The dividend yield of Schnitzer Steel Industries Inc. stocks is 0.17%. Schnitzer Steel Industries Inc. had an annual average earning growth of 31.4% over the past 5 years.

Sold Out: Pharmaceutical Product Development Inc. (PPDI)

John Hussman sold out his holdings in Pharmaceutical Product Development Inc.. His sale prices were between $22.12 and $31.85, with an estimated average price of $27.3. The impact to his portfolio due to this sale was less than 0.01%.

As a leading global provider of discovery and development services and products for pharmaceutical biotechnology and medical device companies PPD applies innovative technologies therapeutic expertise and a commitment to quality to help clients maximize the return on their R&D investments. With proven discovery through post-market resources the company also offers compound partnering opportunities. PPD has more than 6600 professionals in 27 countries around the world. For more information on PPD visit the Web site at [www.ppdi.com]. Pharmaceutical Product Development Inc. has a market cap of $2.82 billion; its shares were traded at around $25.9 with a P/E ratio of 14.7 and P/S ratio of 1.99. The dividend yield of Pharmaceutical Product Development Inc. stocks is 2.09%. Pharmaceutical Product Development Inc. had an annual average earning growth of 22.1% over the past 10 years. GuruFocus rated Pharmaceutical Product Development Inc. the business predictability rank of 5-star.

Sold Out: Yahoo! Inc. (YHOO)

John Hussman sold out his holdings in Yahoo! Inc.. His sale prices were between $9.39 and $13.15, with an estimated average price of $12. The impact to his portfolio due to this sale was less than 0.01%.

Yahoo! Inc. is a global Internet communications commerce and media company that offers a comprehensive branded network of services. As one of the first online navigational guides to the World Wide Web Yahoo! is one of the leading guides in terms of traffic advertising and household and business user reach. The company also provides online business and enterprise services designed to enhance the productivity and Web presence of Yahoo!'s clients. Yahoo! Inc. has a market cap of $16.28 billion; its shares were traded at around $13.9 with a P/E ratio of 25.5 and P/S ratio of 2.26. Yahoo! Inc. had an annual average earning growth of 20.4% over the past 5 years.

Sold Out: Valero Energy Corp. (VLO)

John Hussman sold out his holdings in Valero Energy Corp.. His sale prices were between $15.73 and $22.58, with an estimated average price of $18.7. The impact to his portfolio due to this sale was less than 0.01%.

Valero Energy Corporation owns and operates refineries in the United States and Canada with a combined throughput capacity of approximately two million BPD making it one of the nation's top refiners of petroleum products. Valero is also one of the nation's leading retail operators with retail outlets in the United States and Canada under various brand names including Diamond Shamrock Ultramar Valero Beacon and Total. Valero Energy Corp. has a market cap of $12.45 billion; its shares were traded at around $24.47 with a P/E ratio of 5 and P/S ratio of 0.1. The dividend yield of Valero Energy Corp. stocks is 2.49%. Valero Energy Corp. had an annual average earning growth of 35.9% over the past 10 years. GuruFocus rated Valero Energy Corp. the business predictability rank of 4.5-star.

Sold Out: Schlumberger Ltd. (SLB)

John Hussman sold out his holdings in Schlumberger Ltd.. His sale prices were between $39.08 and $60.25, with an estimated average price of $47. The impact to his portfolio due to this sale was less than 0.01%.

Schlumberger Limited is a global technology services company consisting of two business segments Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Oilfield Services is the leading provider of exploration and production services solutions and technology to the international petroleum industry. SchlumbergerSema is a leading information technology services company providing a unique combination of domain expertise and global capabilities delivered on a local basis. Schlumberger Ltd. has a market cap of $48.82 billion; its shares were traded at around $46.12 with a P/E ratio of 9.2 and P/S ratio of 1.8. The dividend yield of Schlumberger Ltd. stocks is 2.06%. Schlumberger Ltd. had an annual average earning growth of 58.5% over the past 5 years.

Sold Out: Tesoro Corp. (TSO)

John Hussman sold out his holdings in Tesoro Corp.. His sale prices were between $7.77 and $12.05, with an estimated average price of $9.5. The impact to his portfolio due to this sale was less than 0.01%.

Tesoro was founded in 1968 as a company primarily engaged in petroleum exploration and production. In 1969 Tesoro began operating Alaska?s first refinery near Kenai. Today Tesoro is a FORTUNE 500 company and one of the largest independent petroleum refiners and marketers in the Western United States. Tesoro Corp. has a market cap of $2.39 billion; its shares were traded at around $18.48 with a P/E ratio of 74.9 and P/S ratio of 0.11. The dividend yield of Tesoro Corp. stocks is 2.32%. Tesoro Corp. had an annual average earning growth of 20.1% over the past 10 years.

Sold Out: Syniverse Holdings Inc. (SVR)

John Hussman sold out his holdings in Syniverse Holdings Inc.. His sale prices were between $7.42 and $18.8, with an estimated average price of $12. The impact to his portfolio due to this sale was less than 0.01%.

Syniverse is a leading provider of mission-critical technology services to wireless telecommunications companies worldwide. Their solutions simplify technology complexities by integrating disparate carriers? systems and networks in order to provide seamless global voice and data communications to wireless subscribers. Syniverse Holdings Inc. has a market cap of $927.94 million; its shares were traded at around $13.98 with a P/E ratio of 10.4 and P/S ratio of 2.46.

Sold Out: Wyeth (WYE)

John Hussman sold out his holdings in Wyeth. His sale prices were between $29.62 and $37.17, with an estimated average price of $33.9. The impact to his portfolio due to this sale was less than 0.01%.

Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery development manufacturing and marketing of pharmaceuticals vaccines biotechnology products and non-prescription medicines that improve the quality of life for people worldwide. The Company's major divisions include Wyeth Pharmaceuticals Wyeth Consumer Healthcare and Fort Dodge Animal Health. Wyeth has a market cap of $57.21 billion; its shares were traded at around $43.31 with a P/E ratio of 12.1 and P/S ratio of 2.51. The dividend yield of Wyeth stocks is 2.79%. Wyeth had an annual average earning growth of 5.8% over the past 10 years.

Sold Out: The Pepsi Bottling Group Inc. (PBG)

John Hussman sold out his holdings in The Pepsi Bottling Group Inc.. His sale prices were between $17.11 and $22.85, with an estimated average price of $20.5. The impact to his portfolio due to this sale was less than 0.01%.

The Pepsi Bottling Group Inc. is the world's largest manufacturer seller and distributor of Pepsi-Cola beverages. Pepsi-Cola beverages sold include PEPSI-COLA DIET PEPSI MOUNTAIN DEW LIPTON BRISK LIPTON'S ICED TEA 7UP outside the U.S. PEPSI MAX PEPSI ONE SLICE MUG AQUAFINA STARBUCKS FRAPPUCCINO and KAS. The Pepsi Bottling Group Inc. has a market cap of $4.07 billion; its shares were traded at around $20.71 with a P/E ratio of 8 and P/S ratio of 0.3. The dividend yield of The Pepsi Bottling Group Inc. stocks is 3.53%. The Pepsi Bottling Group Inc. had an annual average earning growth of 7.1% over the past 5 years.

Sold Out: Citrix Systems Inc. (CTXS)

John Hussman sold out his holdings in Citrix Systems Inc.. His sale prices were between $20.2 and $26.66, with an estimated average price of $23.3. The impact to his portfolio due to this sale was less than 0.01%.

Citrix Systems Inc. is one of the leading suppliers of application delivery and management software and services that enable the effective and efficient enterprise-wide deployment and management of applications. The company's products permit organizations to deploy and manage applications without regard to location network connection or type of client hardware platform. Citrix Systems Inc. has a market cap of $3.82 billion; its shares were traded at around $23.75 with a P/E ratio of 19.4 and P/S ratio of 2.41. Citrix Systems Inc. had an annual average earning growth of 9.2% over the past 10 years. GuruFocus rated Citrix Systems Inc. the business predictability rank of 4-star.

Sold Out: Cognizant Technology Solutions Corp. (CTSH)

John Hussman sold out his holdings in Cognizant Technology Solutions Corp.. His sale prices were between $15.58 and $19.42, with an estimated average price of $17.9. The impact to his portfolio due to this sale was less than 0.01%.

Cognizant Technology Solutions delivers high-quality cost-effective full life cycle solutions to complex software development and maintenance problems that companies face as they transition to e-business. These services are delivered through the use of a seamless on-site and offshore consulting project team. The company's solutions include application development and integration application management re-engineering and mass change services. Cognizant Technology Solutions Corp. has a market cap of $5.45 billion; its shares were traded at around $20.35 with a P/E ratio of 13.6 and P/S ratio of 2.55. Cognizant Technology Solutions Corp. had an annual average earning growth of 43.3% over the past 10 years. GuruFocus rated Cognizant Technology Solutions Corp. the business predictability rank of 5-star.

Sold Out: ConocoPhillips (COP)

John Hussman sold out his holdings in ConocoPhillips. His sale prices were between $46.84 and $52.52, with an estimated average price of $49.7. The impact to his portfolio due to this sale was less than 0.01%.

ConocoPhillips is a major international integrated energy company with operations in some 49 countries. ConocoPhillips has a market cap of $70.86 billion; its shares were traded at around $48.53 with a P/E ratio of 4.5 and P/S ratio of 0.29. The dividend yield of ConocoPhillips stocks is 3.96%. ConocoPhillips had an annual average earning growth of 19% over the past 10 years.

Sold Out: ColgatePalmolive Company (CL)

John Hussman sold out his holdings in ColgatePalmolive Company. His sale prices were between $55.59 and $67.67, with an estimated average price of $62. The impact to his portfolio due to this sale was less than 0.01%.

Colgate-Palmolive is a leading global consumer products company tightly focused on Oral Care Personal Care Household Surface Care Fabric Care and Pet Nutrition. Colgate sells its products in countries and territories around the world under such internationally recognized brand names as Colgate Palmolive Mennen Softsoap Irish Spring Protex Sorriso Kolynos Ajax Axion Soupline Suavitel and Fab as well as Hill's Science Diet and Hill's Prescription Diet pet foods. (Company Press Release) ColgatePalmolive Company has a market cap of $32.83 billion; its shares were traded at around $64.15 with a P/E ratio of 16.4 and P/S ratio of 2.14. The dividend yield of ColgatePalmolive Company stocks is 2.46%. ColgatePalmolive Company had an annual average earning growth of 8.5% over the past 10 years. GuruFocus rated ColgatePalmolive Company the business predictability rank of 3.5-star.

Sold Out: Ciena Corp. (CIEN)

John Hussman sold out his holdings in Ciena Corp.. His sale prices were between $5.77 and $9.61, with an estimated average price of $7.2. The impact to his portfolio due to this sale was less than 0.01%.

Ciena Corporation is the network specialist focused on expanding the possibilities for its customers' networks while reducing their cost of ownership. The Company's systems software and services target and cure specific network pain points so that telcos cable operators governments and enterprises can best exploit the new applications that are driving their businesses forward. Ciena Corp. has a market cap of $564.93 million; its shares were traded at around $6.57 with a P/E ratio of 7.5 and P/S ratio of 0.63.

Sold Out: Cell Genesys Inc. (CEGE)

John Hussman sold out his holdings in Cell Genesys Inc.. His sale prices were between $0.1 and $0.52, with an estimated average price of $0.3. The impact to his portfolio due to this sale was less than 0.01%.

Cell Genesys Inc. has focused its research and product development efforts on human disease therapies which are based on innovative gene modification technologies. The company's strategic objective is to develop and commercialize in vivo and/or ex vivo gene therapies to treat cancer and other major life-threatening diseases including hemophilia. Cell Genesys' clinical programs include GVAX cancer vaccines in Phase II studies for prostate cancer and Phase I/II studies for lung cancer. Cell Genesys Inc. has a market cap of $20.83 million; its shares were traded at around $0.2495 with and P/S ratio of 15.1.

Sold Out: Agilent Technologies Inc. (A)

John Hussman sold out his holdings in Agilent Technologies Inc.. His sale prices were between $15.45 and $22.61, with an estimated average price of $19.3. The impact to his portfolio due to this sale was less than 0.01%.

Agilent Technologies is the world?s premier measurement company and a technology leader in communications electronics life sciences and chemical analysis. Agilent has two primary business segments: Bio-Analytical Measurement and Electronic Measurement. Agilent Technologies Inc. has a market cap of $6.46 billion; its shares were traded at around $19.04 with a P/E ratio of 9 and P/S ratio of 1.12.

Sold Out: Broadcom Corp. (BRCM)

John Hussman sold out his holdings in Broadcom Corp.. His sale prices were between $14.06 and $17.79, with an estimated average price of $15.8. The impact to his portfolio due to this sale was less than 0.01%.

Broadcom Corporation is a leading developer of highly integrated siliconsolutions that enable broadband digital data transmission to the home and within the business enterprise. The company's products enable the high-speed transmission of data over existing communications infrastructures most of which were not originally intended for digital data transmission. The company has designed and developed integrated circuits for some of the most significant broadband communications markets. Broadcom Corp. has a market cap of $8.09 billion; its shares were traded at around $18.21 with a P/E ratio of 21 and P/S ratio of 1.74.

Sold Out: Brocade Communications Systems Inc. New (BRCD)

John Hussman sold out his holdings in Brocade Communications Systems Inc. New. His sale prices were between $2.87 and $3.84, with an estimated average price of $3.4. The impact to his portfolio due to this sale was less than 0.01%.

Brocade Communications Systems Inc. delivers industry-leading platforms solutions and services for intelligently connecting managing and optimizing IT resources in shared storage environments. The world's premier systems server and storage providers offer the Brocade SilkWorm family of Storage Area Network connectivity platforms as the foundation for shared storage in organizations of all sizes. In addition the Brocade Tapestry family of IT infrastructure solutions extends the ability to proactively manage and optimize application and information resources across the enterprise. Using Brocade solutions organizations are better positioned to reduce cost manage complexity and satisfy business compliance requirements through optimized use and management of their IT resources. Brocade Communications Systems Inc. New has a market cap of $1.43 billion; its shares were traded at around $3.82 with a P/E ratio of 6.1 and P/S ratio of 0.97. Brocade Communications Systems Inc. New had an annual average earning growth of 113.4% over the past 5 years.

Sold Out: Barclays PLC (BCS)

John Hussman sold out his holdings in Barclays PLC. His sale prices were between $8.18 and $15.2, with an estimated average price of $10.9. The impact to his portfolio due to this sale was less than 0.01%.

Barclays PLC operates in commercial and investment banking insurance financial and other related services. Barclays subsidiary Barclays Bank PLC maintains 2500 branches in the United Kingdom and 1000 branches in over 75 other countries. Barclays PLC has a market cap of $9.29 billion; its shares were traded at around $6.99 with and P/S ratio of 0.25. The dividend yield of Barclays PLC stocks is 46.41%. Barclays PLC had an annual average earning growth of 26% over the past 10 years.

Sold Out: Actuant Corp. (ATU)

John Hussman sold out his holdings in Actuant Corp.. His sale prices were between $14.75 and $19.62, with an estimated average price of $17. The impact to his portfolio due to this sale was less than 0.01%.

Actuant headquartered in Milwaukee Wisconsin is a diversified industrial company with operations in 15 countries. Actuant offers products under such established brand names as Enerpac Gardner Bender Milwaukee Cylinder Nielsen Sessions Power-Packer and Power Gear. Actuant Corp. has a market cap of $925.81 million; its shares were traded at around $16.31 with a P/E ratio of 8.1 and P/S ratio of 0.56. The dividend yield of Actuant Corp. stocks is 0.24%. Actuant Corp. had an annual average earning growth of 21.9% over the past 5 years.

Sold Out: Apollo Group Inc. (APOL)

John Hussman sold out his holdings in Apollo Group Inc.. His sale prices were between $50.54 and $76.84, with an estimated average price of $68.2. The impact to his portfolio due to this sale was less than 0.01%.

Apollo Group Inc. has been providing higher education to working adults for over 25 years. They operate through their subsidiaries the University of Phoenix Inc. the Institute for Professional Development the College for Financial Planning Institutes Corporation Western International University Inc. and Apollo Learning Group Inc. Apollo Group Inc. has a market cap of $12.91 billion; its shares were traded at around $84.23 with a P/E ratio of 26.3 and P/S ratio of 4.11. Apollo Group Inc. had an annual average earning growth of 29.1% over the past 10 years. GuruFocus rated Apollo Group Inc. the business predictability rank of 4-star.

Sold Out: AMERIGROUP Corp. (AGP)

John Hussman sold out his holdings in AMERIGROUP Corp.. His sale prices were between $18.1 and $28.49, with an estimated average price of $23.5. The impact to his portfolio due to this sale was less than 0.01%.

Amerigroup Corporation is a multi-state managed healthcare company focused on serving people who receive healthcare benefits through state-sponsored programs including Medicaid Children's Health Insurance Program or CHIP and Family Care. CHIP programs provide healthcare coverage to children not otherwise covered by Medicaid or other insurance programs. Family Care extends coverage to uninsured adults and parents of CHIP or Medicaid-eligible children. AMERIGROUP Corp. has a market cap of $1.48 billion; its shares were traded at around $30.06 with a P/E ratio of 10.6 and P/S ratio of 0.38. AMERIGROUP Corp. had an annual average earning growth of 10.4% over the past 5 years.

Sold Out: Autodesk Inc. (ADSK)

John Hussman sold out his holdings in Autodesk Inc.. His sale prices were between $14.37 and $24.56, with an estimated average price of $19.6. The impact to his portfolio due to this sale was less than 0.01%.

Autodesk is one of the world's leading design software and digital content companies for architectural design and land development manufacturing utilities telecommunications and media and entertainment. Autodesk provides design software Internet portal services wireless development platforms and point-of-location applications that empower customers in numerous countries to drive business and remain competitive. (Company Press Release) Autodesk Inc. has a market cap of $3.75 billion; its shares were traded at around $18.2 with a P/E ratio of 9.3 and P/S ratio of 1.73. Autodesk Inc. had an annual average earning growth of 14.7% over the past 10 years.

Sold Out: Archer Daniels Midland Company (ADM)

John Hussman sold out his holdings in Archer Daniels Midland Company. His sale prices were between $15.37 and $28.35, with an estimated average price of $23.4. The impact to his portfolio due to this sale was less than 0.01%.

Archer Daniels Midland Company is a world leader in agricultural processing and fermentation technology. ADM is one of the world's largest processors of soybeans corn wheat and cocoa. ADM is also a leader in the production of soybean oil and meal ethanol corn sweeteners and flour. The Company works with farmers across the world to turn these crops into soymeal and oil corn sweeteners flour cocoa and chocolate ethanol and biodiesel as well as a wide portfolio of other value-added food ingredients animal nutrition and industrial products. Archer Daniels Midland Company has a market cap of $17.57 billion; its shares were traded at around $29.03 with a P/E ratio of 7.7 and P/S ratio of 0.25. The dividend yield of Archer Daniels Midland Company stocks is 1.9%. Archer Daniels Midland Company had an annual average earning growth of 16.8% over the past 10 years. GuruFocus rated Archer Daniels Midland Company the business predictability rank of 3.5-star.

Sold Out: Dell Inc. (DELL)

John Hussman sold out his holdings in Dell Inc.. His sale prices were between $9.3 and $13.29, with an estimated average price of $11.5. The impact to his portfolio due to this sale was less than 0.01%.

Dell Inc. is a premier provider of products and services required for customers worldwide to build their information-technology and Internet infrastructures. Dell through its direct business model designs manufactures and customizes products and services to customer requirements and offers an extensive selection of software and peripherals. Dell Inc. has a market cap of $18.47 billion; its shares were traded at around $9.64 with a P/E ratio of 6.8 and P/S ratio of 0.3. Dell Inc. had an annual average earning growth of 10.7% over the past 10 years. GuruFocus rated Dell Inc. the business predictability rank of 3.5-star.

Sold Out: DISH NETWORK CORPORATION CLASS A COMMON (DISH)

John Hussman sold out his holdings in DISH NETWORK CORPORATION CLASS A COMMON. His sale prices were between $9.01 and $16.19, with an estimated average price of $12.7. The impact to his portfolio due to this sale was less than 0.01%.

DISH NETWORK CP offers satellite television products and services. The company operates three business units: The DISH Network - the direct broadcast satellite subscription television service in the United States. EchoStar Technologies Corporation division which is principally responsible for the design of digital set-top boxes or satellite receivers and the sale of set-top boxes to international operators. Satellite Services division provides video audio and data services to business television customers and other satellite users. DISH NETWORK CORPORATION CLASS A COMMON has a market cap of $5.74 billion; its shares were traded at around $13.91 with a P/E ratio of 6.4 and P/S ratio of 0.52.

Sold Out: DryShips Inc. (DRYS)

John Hussman sold out his holdings in DryShips Inc.. His sale prices were between $3.54 and $21.28, with an estimated average price of $11.8. The impact to his portfolio due to this sale was less than 0.01%.

Dryships Inc. based in Greece is an owner and operator of drybulk carriers that operate worldwide. DryShips Inc. has a market cap of $288.74 million; its shares were traded at around $6.5 with a P/E ratio of 0.4 and P/S ratio of 0.5.

Sold Out: OmniVision Technologies Inc. (OVTI)

John Hussman sold out his holdings in OmniVision Technologies Inc.. His sale prices were between $4.5 and $8.52, with an estimated average price of $6.4. The impact to his portfolio due to this sale was less than 0.01%.

OmniVision Technologies Inc. designs develops and markets highperformance high quality and cost efficient semiconductor imaging devices for computing communications and consumer electronics applications. The company's product an image sensor is used to capture an image in cameras and camera related products such as personal computer cameras digital still cameras personal digital assistant cameras and mobile phone cameras. The company has developed image sensors using the standard semiconductor manufacturing process used for modern integrated circuits. OmniVision Technologies Inc. has a market cap of $334.73 million; its shares were traded at around $7.91 with a P/E ratio of 9 and P/S ratio of 0.42.

Sold Out: NETGEAR Inc. (NTGR)

John Hussman sold out his holdings in NETGEAR Inc.. His sale prices were between $8.93 and $12.1, with an estimated average price of $10.8. The impact to his portfolio due to this sale was less than 0.01%.

Netgear Inc designs technologically advanced branded networking products that address the specific needs of small business and home users. The company's suite of products enables users to share Internet access peripherals files digital multimedia content and applications among multiple personal computers and other Internet-enabled devices. NETGEAR Inc. has a market cap of $392.18 million; its shares were traded at around $11.9 with a P/E ratio of 8.8 and P/S ratio of 0.54. NETGEAR Inc. had an annual average earning growth of 31.7% over the past 5 years.

Sold Out: Nokia Corp. (NOK)

John Hussman sold out his holdings in Nokia Corp.. His sale prices were between $12.59 and $16.83, with an estimated average price of $14.8. The impact to his portfolio due to this sale was less than 0.01%.

Nokia is the world leader in mobile communications. Backed by its experience innovation user-friendliness and secure solutions the company has become the leading supplier of mobile phones and a leading supplier of mobile fixed and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges. Nokia Corp. has a market cap of $48.71 billion; its shares were traded at around $13.22 with a P/E ratio of 6.4 and P/S ratio of 0.66. The dividend yield of Nokia Corp. stocks is 4.9%. Nokia Corp. had an annual average earning growth of 12.1% over the past 10 years. GuruFocus rated Nokia Corp. the business predictability rank of 4.5-star.

Sold Out: DeVry Inc. (DV)

John Hussman sold out his holdings in DeVry Inc.. His sale prices were between $44.42 and $58.28, with an estimated average price of $53.2. The impact to his portfolio due to this sale was less than 0.01%.

DeVry Inc. owns and operates DeVry Institutes of Technology DenverTechnical College Keller Graduate School of Management and Becker Conviser CPA Review. DeVry Institutes DeVry Canada Inc. Denver TechnicalCollege and Keller Graduate School of Management are a part of DeVryUniversity. DeVry Institutes and Keller Graduate School collectively formone of the largest private degree-granting regionally accredited highereducation systems in North America. Becker prepares candidates for theCPA CMA and CFA professional certification examinations. DeVry Inc. has a market cap of $3.84 billion; its shares were traded at around $58.3 with a P/E ratio of 27.6 and P/S ratio of 3.52. The dividend yield of DeVry Inc. stocks is 0.3%. DeVry Inc. had an annual average earning growth of 4.3% over the past 10 years.

Sold Out: Nabors Industries Ltd. (NBR)

John Hussman sold out his holdings in Nabors Industries Ltd.. His sale prices were between $10.85 and $15.51, with an estimated average price of $13.1. The impact to his portfolio due to this sale was less than 0.01%.

Nabors Industries Inc. is one of the largest land drilling contractors. Nabors conducts oil gas and geothermal land drilling operations in the U.S. and internationally. Nabors also is one of the largest land well-servicing and workover contractors in the United States. To further supplement its primary business it offers a number of ancillary well-site services including oilfield management engineering transportation construction maintenance well logging and other support services in selected domestic and international markets. Nabors Industries Ltd. has a market cap of $3.12 billion; its shares were traded at around $11.92 with a P/E ratio of 3.7 and P/S ratio of 0.63. Nabors Industries Ltd. had an annual average earning growth of 26.2% over the past 10 years. GuruFocus rated Nabors Industries Ltd. the business predictability rank of 4.5-star.

Sold Out: The CocaCola Company (KO)

John Hussman sold out his holdings in The CocaCola Company. His sale prices were between $41.15 and $46.87, with an estimated average price of $44.2. The impact to his portfolio due to this sale was less than 0.01%.

The Coca-Cola Company is the world's largest beverage company and is the leading producer and marketer of soft drinks. Along with Coca-Cola recognized as the world's best-known brand The Coca-Cola Company markets four of the world's top five soft drink brands including diet Coke Fanta and Sprite. Through the world's largest distribution system consumers in nearly 200 countries enjoy The Coca-Cola Company's products at a rate of more than 1 billion servings each day. The CocaCola Company has a market cap of $98.84 billion; its shares were traded at around $42.31 with a P/E ratio of 13.4 and P/S ratio of 3.42. The dividend yield of The CocaCola Company stocks is 3.56%. The CocaCola Company had an annual average earning growth of 5.3% over the past 10 years. GuruFocus rated The CocaCola Company the business predictability rank of 2-star.

Sold Out: King Pharmaceuticals Inc. (KG)

John Hussman sold out his holdings in King Pharmaceuticals Inc.. His sale prices were between $7.81 and $10.21, with an estimated average price of $9.2. The impact to his portfolio due to this sale was less than 0.01%.

King Pharmaceuticals Inc. is a vertically integrated pharmaceutical company that manufactures markets and sells primarily branded prescription pharmaceutical products. Through a national sales force they market their branded pharmaceutical products to general/family practitioners internal medicine physicians cardiologists endocrinologists pediatricians and hospitals across the country. King Pharmaceuticals Inc. has a market cap of $2.15 billion; its shares were traded at around $8.21 with a P/E ratio of 5.6 and P/S ratio of 1.01. King Pharmaceuticals Inc. had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated King Pharmaceuticals Inc. the business predictability rank of 4-star.

Sold Out: Jabil Circuit Inc. (JBL)

John Hussman sold out his holdings in Jabil Circuit Inc.. His sale prices were between $5.39 and $8.32, with an estimated average price of $6.8. The impact to his portfolio due to this sale was less than 0.01%.

Jabil Circuit Inc. is a worldwide independent provider of electronic manufacturing services. It designs and manufactures electronic circuit board assemblies and systems for major original equipment manufacturers in the communications computer peripherals personal computer automotive and consumer products industries. It serves its original equipment manufacturer customers with dedicated work cell business units that combine high volume highly automated continuous flow manufacturing with advanced electronic design and design for manufacturability technologies. Jabil Circuit Inc. has a market cap of $1.23 billion; its shares were traded at around $6.45 with a P/E ratio of 6.5 and P/S ratio of 95.93. The dividend yield of Jabil Circuit Inc. stocks is 4.81%. Jabil Circuit Inc. had an annual average earning growth of 8.1% over the past 10 years. GuruFocus rated Jabil Circuit Inc. the business predictability rank of 2-star.

Sold Out: Health Management Associates Inc. (HMA)

John Hussman sold out his holdings in Health Management Associates Inc.. His sale prices were between $1.05 and $2.67, with an estimated average price of $1.9. The impact to his portfolio due to this sale was less than 0.01%.

Health Management Associates Inc. provides a broad range of general acute care health services in non-urban communities. The Company pursues a business strategy of efficiently and profitably operating its existing base of facilities and selectively acquiring additional 100 to 300 bed acute care hospitals located in non-urban communities in market areas of 40000 to 300000 people in the southeastern and southwestern UnitedStates. Health Management Associates Inc. has a market cap of $388.01 million; its shares were traded at around $1.98 with a P/E ratio of 4 and P/S ratio of 0.09. Health Management Associates Inc. had an annual average earning growth of 25.2% over the past 10 years. GuruFocus rated Health Management Associates Inc. the business predictability rank of 3.5-star.

Sold Out: Garmin Ltd. (GRMN)

John Hussman sold out his holdings in Garmin Ltd.. His sale prices were between $15.07 and $24.39, with an estimated average price of $19.6. The impact to his portfolio due to this sale was less than 0.01%.

Garmin International is designs manufactures and markets navigation and communications equipment for a variety of markets including aviation marine automotive cellular OEM and general recreation. Specifically the company aims to enrich the lives of customers suppliers distributors and employees by providing the very best products that offer superior quality safety and operational features at affordable prices. Garmin Ltd. has a market cap of $3.55 billion; its shares were traded at around $17.78 with a P/E ratio of 4.7 and P/S ratio of 1.12. The dividend yield of Garmin Ltd. stocks is 4.28%. Garmin Ltd. had an annual average earning growth of 41.7% over the past 5 years.

Sold Out: Gannett Co. Inc. (GCI)

John Hussman sold out his holdings in Gannett Co. Inc.. His sale prices were between $6.03 and $12.28, with an estimated average price of $8.8. The impact to his portfolio due to this sale was less than 0.01%.

Gannett Co. Inc. is an international news and information company that publishes daily newspapers in the USA including USA TODAY the nation'slargest-selling daily newspaper. The company also owns in excess of 400 non-daily publications in the USA and USA WEEKEND a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom's second largest regional newspaper company. Newsquest publishes more than 300 titles including 15 daily newspapers and a network of prize-winning Web sites. Gannett also operates 22 television stations in the United States. Gannett Co. Inc. has a market cap of $1.32 billion; its shares were traded at around $4.85 with a P/E ratio of 1.7 and P/S ratio of 0.18. The dividend yield of Gannett Co. Inc. stocks is 27.73%. Gannett Co. Inc. had an annual average earning growth of 4.9% over the past 10 years. GuruFocus rated Gannett Co. Inc. the business predictability rank of 4-star.

Sold Out: Frontier Oil Corp. (FTO)

John Hussman sold out his holdings in Frontier Oil Corp.. His sale prices were between $9.5 and $13.14, with an estimated average price of $11.3. The impact to his portfolio due to this sale was less than 0.01%.

Frontier Oil Corporation is an independent energy company engaged in crude oil refining and the wholesale marketing of refined petroleum products. Their refineries are complex refineries which means that they can process heavier less expensive types of crude oil and still produce a high percentage of gasoline diesel fuel and other high margin refined products. Frontier Oil Corp. has a market cap of $1.48 billion; its shares were traded at around $16.19 with a P/E ratio of 6.7 and P/S ratio of 0.29. The dividend yield of Frontier Oil Corp. stocks is 1.68%. Frontier Oil Corp. had an annual average earning growth of 74.4% over the past 5 years.

Sold Out: Fossil Inc. (FOSL)

John Hussman sold out his holdings in Fossil Inc.. His sale prices were between $13 and $20.96, with an estimated average price of $15.8. The impact to his portfolio due to this sale was less than 0.01%.

FOSSIL INC. designs develops markets and distributes fashion watches and other accessories principally under the FOSSIL brand name. In addition Fossil markets lower priced watches under the RELIC brand name. The company designs manufactures and markets a line of limited edition watches bearing the trademarks and logos of various entities as well as contracts with retailers and other customers for the manufacture of watches for sale under private label. Fossil Inc. has a market cap of $768.7 million; its shares were traded at around $11.98 with a P/E ratio of 5.3 and P/S ratio of 0.54. Fossil Inc. had an annual average earning growth of 13.1% over the past 10 years. GuruFocus rated Fossil Inc. the business predictability rank of 4-star.

Sold Out: EMC Corp. (EMC)

John Hussman sold out his holdings in EMC Corp.. His sale prices were between $9.3 and $11.78, with an estimated average price of $10.4. The impact to his portfolio due to this sale was less than 0.01%.

EMC Corporation and its subsidiaries design manufacture market and support a wide range of hardware and software products and provide services for the storage management protection and sharing ofelectronic information. These integrated solutions enable organizations tocreate an enterprise information infrastructure or what EMC calls anE-Infostructure. EMC is the leading supplier of these solutions which comprise information storage systems software and services. EMC Corp. has a market cap of $22.53 billion; its shares were traded at around $12.51 with a P/E ratio of 14.6 and P/S ratio of 1.51. EMC Corp. had an annual average earning growth of 39.1% over the past 5 years.

Sold Out: Ecolab Inc. (ECL)

John Hussman sold out his holdings in Ecolab Inc.. His sale prices were between $32.64 and $39.69, with an estimated average price of $36.3. The impact to his portfolio due to this sale was less than 0.01%.

Ecolab Inc. is the global leader in cleaning sanitizing food safety and infection control products and services. Ecolab delivers comprehensive programs and services to the foodservice food and beverage processing healthcare and hospitality markets. Ecolab Inc. has a market cap of $8.02 billion; its shares were traded at around $35.18 with a P/E ratio of 18.4 and P/S ratio of 1.47. The dividend yield of Ecolab Inc. stocks is 1.65%. Ecolab Inc. had an annual average earning growth of 12.3% over the past 10 years. GuruFocus rated Ecolab Inc. the business predictability rank of 5-star.

Sold Out: Analog Devices Inc. (ADI)

John Hussman sold out his holdings in Analog Devices Inc.. His sale prices were between $16.66 and $21.14, with an estimated average price of $18.9. The impact to his portfolio due to this sale was less than 0.01%.

Analog Devices Inc. is one of the world leaders in the design manufacture and marketing of high-performance analog mixed-signal and digital signal processing integrated circuits used in signal processing applications. Applications for its products include communications cellular telephones computers and computer peripherals consumer electronics automotive electronics factory automation process control and military and space systems. Analog Devices Inc. has a market cap of $5.82 billion; its shares were traded at around $22.31 with a P/E ratio of 11.3 and P/S ratio of 2.25. The dividend yield of Analog Devices Inc. stocks is 4%. Analog Devices Inc. had an annual average earning growth of 10.7% over the past 10 years. GuruFocus rated Analog Devices Inc. the business predictability rank of 3.5-star.






Rating: 2.7/5 (19 votes)

Comments

dgricus
Dgricus - 5 years ago
Lots of good buys. I think he should add (DNA) Genozyme to his portfolio to.
buffetteer17
Buffetteer17 premium member - 5 years ago
"Dr. John Hussman is one of the few fund managers that saw the crisis coming and successfully avoid large losses from it."

I do not believe Hussman himself would agree with that statement. As he has said repeatedly, he does not attempt to predict the market. Instead, he hedges a varying amount based on present conditions.

Here's a quote from his Dec. 15, 2008 weekly commentary that illustrates this:

"Where do I think the market is headed? I have no forecast, but I'll share my impressions. It's possible that the lows we observed in November were the lowest point that we will observe during this downturn, but I would not invest on that basis. It's possible that market action will improve further, and that we will recruit enough evidence to warrant removing a significant portion of our hedges, but at present, we don't have that evidence. My impression is that regardless of near-term prospects, we will observe a tone of “revulsion” at some point next year, which we should certainly allow for especially during the first half of 2009. At that point, we should not rule out a low that would compete with the November lows and perhaps break them, but we should also expect that the market will be more selective at that point, so there will be many stocks that hold above the lows that have already been set.

"As usual, we don't need to forecast at all – simply to constantly align our investment position with the prevailing evidence from valuations and market action. At present, valuations are favorable, while market action is generally unfavorable – we have some tenuous signs of early improvement, but trading volume has been sluggish and the market is no longer oversold or compressed. As I noted last week, ambiguous evidence warrants moderate exposure. The Strategic Growth Fund continues to have a moderately constructive position, but primarily with call options overlaid on an otherwise significantly hedged investment stance."

[http://www.hussmanfunds.com/weeklyMarketComment.html]

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