Dear Investors,

My name is Eric Lansky, and I am honored to write to you today as the new president of USA Mutuals.

There's no doubt, this is a rough, tumultuous time for the markets. Investors everywhere have good reason to be both concerned and confused. Politics, war, gas prices, credit conditions, housing markets – the news never stops. Not long ago, the Dow suffered its most severe drop in a single day. And yet, more recently, the Dow had one of its biggest single day rallies. It's difficult to find solid ground.

But there is solid ground. That solid ground is you: your instincts; your beliefs. Your knowledge. Volatile times don’t invalidate logic and good sense. In fact, they’re more important now than ever, and you can capitalize on them with our Invest Your Knowledge approach to investing.

Invest Your Knowledge operates on some pretty basic principles. Allow me to make a comparison that has nothing to do with stocks. Have you been somewhere and thought, "In a few years, this will be one of the hottest, most expensive neighborhoods"? You were probably right about that because you based your opinion on things you not only saw but believed. You didn't consult with city planners, and you probably didn't even as much as glance at the real estate section. And had you bought a building in that neighborhood, you might have made a very good investment.

With Invest Your Knowledge, USA Mutuals aims to do just this, but in the stock market. We do this by giving you the power to invest in mutual funds based on what you believe, have confidence and understand.

Do you believe that drinking and smoking is a steady activity when times are good, and even better when times are bad? Do you believe the weapons/defense sector and gaming industries are stable ones? If so, you may like the Vice Fund, a mutual fund that only considers tobacco, alcohol, gaming, and weapons/defense companies for its portfolio.

In 2007, the baby boomer generation alone was responsible for $4 trillion in expenditures. They’ve been nearing retirement and need more and more medical care. If you see an investment opportunity there, I invite you to look at the Generation Wave Growth Fund, which invests in those industries/sectors that cater to the boomer generation.

My commitment is to each of our investors. I welcome your questions, comments and suggestions on how USA Mutuals can continue to best serve your investment needs. I am thrilled to be part of USA Mutuals, and pledge to do my very best to serve you. 

Sincerely,

Eric Lansky
President

[email protected]