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The information provided in these reports should not be considered a recommendation to purchase or sell any particular security. There is no assurance that the securities discussed therein will remain in the account's portfolio at the time you receive this report or that securities sold have not been repurchased. The securities discussed do not represent any account's entire portfolio and in the aggregate may represent only a small percentage of any account's portfolio holdings. It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein.