Note: This Web page is not shown in the Menu of this site. It is accessible by people to whom I, Leland Hevner, President of the National Association of Online Investors (NAOI), have contacted directly via email or a LinkedIn message. I have created this page to expand on the information provided in that communication.


The world of investing is about to change at a fundamental level. This change comes in the form of a new theory of investing recently released to the public called Dynamic Investment Theory (DIT). This new theory sets forth the logic and the rules for the creation of a next-generation investment type called NAOI Dynamic Investments (DIs) that are able to automatically change the ETF they hold based on a periodic sampling of market trends.

The revolutionary design of Dynamic Investments enable them to buy only into uptrending areas of the market and to sell or avoid areas that are trending down in price. This design enabled even the simplest DI that rotates only between stocks and bonds to earn returns of 30%+ per year for the last decade with low risk and absolute protection from market crashes. On this Web page, and on this Site, you will see how. 

  • If you are an individual investor Dynamic Investments will give you the confidence you need to participate in the market with confidence. DIs open to you the full wealth generation power of US equity markets.
  • If you are a financial advisor or a financial services firm, DIs will give you the investing products you need to attract millions of new clients who are now on the sidelines in fear.
  • If you are in anyway involved with the development, sales or management of Exchange Traded Funds (ETFs), DIs will open an entire new world of product development opportunities. And because DIs are powered by ETFs, this is the investment type that will finally make them a mainstream investment. As a result, ETF sales will explode and in a very short time surpass mutual funds as the primary investment type in the market. 

Regardless of how you interact with the world of investing, If you spend just a few minutes reading the information provided below, you will get just a glimpse of the future of investing.

Who Am I?

Leland hevner, president  national association of online investors

Leland hevner, president
national association of online investors

My purpose here is to change the fundamental was we invest today. Who am I to believe that I can do so? Introducing myself is the first step in the process.

I am Leland Hevner, President of the National Association of Online Investors (NAOI), the market's premier source for serious, objective personal investor education. Founded in 1997, we have taught thousands of individuals how to invest via our college courses, our online study programs and our books. The NAOI Corporate Web site is found here and my personal Web page is found here.

During my over a decade of both being a personal investor and teaching personal investing I have watched as markets have evolved dramatically. They have become increasingly volatile and difficult to analyze. Yet during this time I have observed that the methods that the financial services industry gives to the public to cope with these markets have not changed at all. In fact we still use a portfolio design methodology in Modern Portfolio Theory (MPT) that was introduced in 1952 for goodness sake!

After 5+ years of exhaustive research we found the methodology we were looking for in the form of Dynamic Investment Theory (DIT). This theory details how to create Dynamic Investments (DIs) that automatically change the Exchange Traded Fund (ETF) they hold based on a periodic sampling of market trends. By being sensitive to market changes, DIs are able to produce returns that MPT will find impossible to match. And they do so without increased risk and with absolute protection from market crashes.

In Dynamic Investment Theory and Dynamic Investments, the NAOI has created the foundation for a better future of investing. At the least DIT provides a valuable supplement to MPT. At the most it replaces it completely!

If you are an individual investor, DIs will empower you to enter, or re-enter, the market with confidence and without fear. If you are a financial organization you need to proactively prepare now for what the public will soon demand. As you will learn on this page, the NAOI stands ready to show you how to start planning for the future of investing today!

Leland B. Hevner
President of the National Association of Online Investors
January 12, 2017

PS. If you are an organization that creates, sells and/or uses ETFs you will want to pay particular attention to the information presented here. The coming dominance of the Dynamic Investment type will significantly increase the use and sales of ETFs.

The State of the Investing World Today: Stuck!

As the new year of 2017 dawns, people find themselves dealing with an investing world that is stuck in place and stagnating rapidly. And they simply don't know what to do.

The public today holds portfolios designed using an approach called Modern Portfolio Theory (MPT) that was introduced in 1952! MPT methods create static, buy-and-hold portfolios that produce mediocre returns at best with high risk and no protection from market crashes. The financial services industry can do better.

To take full advantage of today's markets a new investment type is needed that is sensitive to market movements and has the internal intelligence to buy only into assets / markets that are moving up in price and to avoid or sell those that are moving down. In other words, instead of static MPT portfolios, investors need to start holding dynamic portfolios that are capable of thriving in today's dynamic markets. 

Fortunately the tools and resources that enable this to happen exist today. All that's required is for someone or some organization with the vision, the capacity and, yes, the courage, to put forth a new investing approach that challenges the current, unquestioned supremacy of Modern Portfolio Theory. This is exactly what my company, the National Association of Online Investors (NAOI) has done.

In mid-2016 we released an updated approach to investing that we call Dynamic Investment Theory (DIT) and a new investment type defined by DIT called Dynamic Investments (DIs). You will learn about both on this page. We are confident that these developments will evolve investing methods to match the evolution of markets and finally enable investors to take full advantage of the wealth-generating power of US equity markets. 

The Seeds of Investing Evolution

The seeds of Dynamic Investment Theory were planted In 2008 while I was teaching a college course in personal investing. I was showing students how to build buy-and-hold, asset-allocation portfolios based on an approach defined by Modern Portfolio Theory (MPT). When the market crashed so did these portfolios. At that point I had to realize that the MPT approach, originally introduced in 1952, was dangerously outdated and putting the wealth of my students at risk. This was unacceptable. Therefore, I cancelled all further classes until the NAOI could find a better, more dynamic approach to investing that works in modern markets.

I began my research starting with a blank slate. I would not be constrained by Modern Portfolio Theory concepts or any other traditional investing methods. I quickly saw that a new investment type was needed, one that was sensitive to market movements and that had the built-in intelligence to change the equities it held based on observable market trends not human judgments. And I saw that the buy-and-sell environment that I was creating required the use of an equity type that had all of the diversity benefits of mutual funds but was also easy to trade. I found what I needed in the Exchange Traded Fund (ETF) investment type. Then it was simply a matter of building an investment structure that could sense market movements and change the ETF(s) it held rapidly and efficiently in response to them.

After 5 + years of exhaustive R&D and testing we found the new approach we were looking for in the form of Dynamic Investment Theory (DIT) and the next-generation investment type we needed to meet our goals in the form of Dynamic Investments (DIs). You will learn about each below.

Introducing NAOI Dynamic Investment Theory 

As research began, we vowed that any new approach to investing would be based on scientific methods and trading activity would be triggered by objective empirical market observations instead of subjective human judgments as they are today. We were determined to eliminate as much of the human error factor as possible.

So we started with the ONLY fact that is known about equities markets without question; that the prices of equities that track entire asset classes, total markets and market segments are cyclical. They move up and down in price over time. And they move up and down at different times - e.g. when stocks go up, bonds go down. This led to the hypothesis that there exist at all times, in any economic condition, positive returns somewhere in the market.

With the formulation of this hypothesis, our goal then became to design a new investment type that was capable of finding and capturing the positive returns offered by equities that are moving up in price while avoiding equities that were moving down in price. We succeeded in meeting this goal with the NAOI Dynamic Investments; a revolutionary, next-generation investment type that we believe will be the dominate the market in the future of investing - far surpassing the sales of mutual funds.

Introducing NAOI Dynamic Investments

DIT defines the logic and the rules for the creation of a next-generation investment type called Dynamic Investments (DIs). A DI is designed to automatically change the equity it holds based on periodic sampling of market trends. This structure enables DIs to capture the positive returns potential that exists somewhere in the market at all times and to do so based on objective market observations, not on subjective human analysis and judgments.

As we backtested various DI designs, we saw that they produced returns that today's "experts" will say are impossible - they astounded even us! As testing continued and DIs showed superior performance in all economic conditions, we began to realize that DIs had the power to change for the better virtually every aspect of how we invest today. We saw that DIs were the catalyst needed to catapult the world of investing into the 21st century.

Early in our development process we saw that Exchange Traded Funds (ETFs) were the perfect investment type to power DIs due to their ease of trading and the fact that there exists an ETF for virtually any asset type and market segment where we would want to be able to search for positive returns.  

Dynamic Investment Components

The NAOI-created Dynamic Investment has three simple components as illustrated in the figure shown below. They are as follows:

  • The Dynamic ETF Pool or DEP: This component of the DI holds from 2 to 10 ETFs that are candidates for purchase by the DI which only owns one ETF at a time.
  • The Review Period: This component specifies how often the DI reviews the DEP to determine which ETF from it to buy hold for the next period. At time of review the DEP is ranked by the Trade Signal, explained just below, to identify the ETF in the DEP that is trending up most strongly. 
  • The Trade Signal: This is a simple indicator that measures the direction and strength of the price trend for each ETF in the DEP. Only the one that is trending up most strongly at time of review is purchased, or held, until the next review.

Once defined, the variables for a specific DI do not change. However, the ETF held by the DI does change depending on market conditions. This type of invest is unique in the market. A DI is a passively managed, active investment that provides the best elements of each approach. You can see that while design decisions are made one time, upfront, based on human judgment, actual trades on an ongoing basis are signaled by empirical observation of market movements. And experience has shown us that the market is a whole lot smarter than any one or group of "expert" analysts. 

The three components of a DI are defined by a DI designer and can be created for a variety of investing goals. By changing the design elements there are an unlimited number of powerful and unique Dynamic Investments that can be created. As a result, this new design approach opens the doors to a vast, virgin field of product development. And since DIs do not require the creation of new ETFs - simply the combining of existing ETFs - the arduous process of identifying viable new ETFs and creating them goes away. This topic is discussed in more detail below.

For more information on how Dynamic Investments are designed and how they work go to this link.

How Do Dynamic Investments Perform?

With the DI structure defined, we now had an investment type that was sensitive to market movements and had the built in intelligence to find and capture positive market returns on an ongoing basis. The DI concept and design were built on a foundation of solid logic, but the question remained: do DIs work? Answering this question became the next focus of our research.

 Of course the performance of a specific DI depends on the skill of its designer. So for testing purposes we used one of the simplest DIs possible that was created by the NAOI with only 3 ETFs in its DEP and a quarterly review. As test results came in, we were astounded by the annual returns produced by this simple DI when backtested over a the past ten years from the start of 2007 to the end of 2016 - a decade worth of data. This was a period that included a significant stock market crash, a sustained bull market and years when the market was essentially flat. In other words the backtest period covered a statistically significant number of years with a full variety of economic conditions, both critical elements for verifying our DIT hypothesis.  

Backtest Period Performance - The tables below show the average annual returns of the simple NAOI Dynamic Investment for the backtest period as compared to that of a generic MPT portfolio with a 60% allocation to stocks and 40% allocation to bonds. Also shown is the Sharpe Ratio of each investment for the period. This is a risk measure showing the amount of return received for each unit of risk taken. Any Sharpe Ratio greater than 1.0 indicates a superior investment.

Performance Summary Table for the period from the start of 2007 to the end of 2016:


Annual Returns for each investment type for the period.


These DI return numbers are simply astounding. Today's "experts" would say they are impossible. And they are impossible when an investment is constrained by MPT portfolio design and management rules. But with the use of a dynamic investing approach, returns like this are not only possible but probable! And the Sharpe Ratio for the period prsented in the first table above shows that these returns did not come with excessive risk!

What Makes These Returns So Amazing?

Why does this ultra-simple NAOI designed Dynamic Investment work so well? Here are just a few of the many reasons:

  • Time Diversification. Like MPT portfolios all DIs include company diversification through the use of ETFs and asset diversification by having multiple ETFs in their DEPs. But they add another factor in the form of "time-diversification" which does not exist in MPT portfolios. And while company and asset diversification only reduce risk, time diversification reduces risk AND enhances performance! It's about time that this incredibly powerful diversification factor was put to use in investment design!
  • Buying Winners / Avoiding Losers. DIs are designed to ONLY buy into asset types / market segments that are moving up in price at time of purchase. Odds are good that the trend will continue for at least another quarter. They are also designed to quickly sell (or avoid) areas of the market that are trending down in price. A good example is 2008 when all NAOI designed DIs automatically switched from stock-based ETFs to a bond-based ETFs and earned +57% while the stock market was losing about the same amount!
  • A Buy-and-Sell Management Strategy. DIs use a buy-and-sell management strategy in conjunction with the DI's built-in intelligence to nimbly and automatically move between assets and markets based on market trends. In other words, they are sensitive to market movements and designed to take advantage of them - without the need for human intervention. Market sensitivity is not present in today's buy-and-hold, MPT portfolios. And in the MPT world of investing trades / changes are made based on subjective human judgments - which are often wrong. DI trades are made based only on objective market observations of past market movements - a far better predictor of future market movements than human "guessing".

DIs are finally the investment type that the investing public needs to both take advantage of market uptrends and to avoid market down trends and by doing so to achieve high returns with low risk with absolute protection from market / portfolio crashes. This is the approach that the NAOI began looking for in 2008 and it met and exceeded all of the very high goals we had set for a better way to invest.

Solving the Problems of Today's ETF Industry

NAOI Dynamic Investments work because the exploit the benefits of Exchange Traded Funds - something MPT portfolios do not. They take full advantage of the fact that ETFs trade like stocks, one exists for virtually any area of the market where DIs will look for positive returns and their expenses are minimal. Thus, ETFs are the primary equity type used by DIs.

Because in traditional MPT portfolios ETFs are seen as little more than "quirky" mutual funds, they will not thrive in today's investing environment. In the future, Dynamic Investments will be the dominant investment type and will serve as the catalyst for explosive growth in the use of ETFs. Thus, the entire ETF industry should welcome Dynamic Investments with open arms and be willing to participate in the development and marketing of this new, dynamic approach to investing.

To emphasis this point let's take a quick look at some of the issues that keeping ETFs from being mainstream investments today and how in the future they will surpass the popularity of mutual funds as the most sold investment type in the industry.

Barriers to New ETF Product Development: A significant problem in the ETF world today is that it is running out of new, unique ETF products to create. Virtually every asset type and market segment is currently tracked by a least one ETF and most by several. New ETF developers are hitting a dead end. 

Dynamic Investments tear down this wall. DIs do not require new ETFs to be created they are created by combining existing ETFs! Therefore there is no need to continue to search for increasingly elusive, unique and viable new ETFs. The challenge for the DI designer is combining existing ETFs into a unique and viable Dynamic ETF Pool as describe above along with a Review Period and a trend-detecting Trading Signal. And there are an unlimited number of combination of these variables - each of which will create a DI that is far more powerful than any single ETF or MPT portfolio in existence today. With the introduction of Dynamic Investment Theory the current "dead end" that ETF developers are now facing disappears. For more information on this topic visit one of my blog posts dedicated to this issue by clicking here.

Reviving Dying ETFs: Because the ETF world is getting crowded, new ETFs are increasingly more narrowly focused and thus more volatile. And volatility is not a good thing for today's buy-and-hold MPT portfolios. As a result many valuable new and existing ETFs are simply not recommended by advisors today.

Dynamic Investments solve this problem. Volatile ETFs can be very valuable components of a DI's Dynamic Investment Pool where they are ONLY purchased when they are moving up in price more strongly than any other ETF in the DEP. They are then held for a very short time (e.g. on quarter) before the DEP is reviewed again and the volatile ETF is replaced if it's price is deteriorating. DIT design methods also call for Stop Losses to be placed on any ETF purchased by a DI to limit damage if a volatile ETF that is owned starts to drop suddenly. 

The DI structure and management approach brings back to life some very useful ETFs such as PEK, an ETF that tracks China stocks, and many others that can serve a very valuable function in a well-designed DI. Go about half way down on this page to see an example of how this works.

Uncovering Massive Value Hidden in Exiting ETF Product Lines: Many companies have extensive product lines of proprietary ETFs. These are very valuable assets for the developing organization. Yet these product lines currently have massive value that is lying hidden and dormant. This is value that can be unleashed by combining existing ETFs into the Dynamic ETF Pools of newly created Dynamic Investments as explained earlier on this page. And each newly created DI formed in this manner will perform exponentially better than any of the standalone ETFs that it has in its DEP. By using existing ETFs to create Dynamic Investments a company can multiply the value of its current ETF product line many times over and virtually overnight without the need to create a single new ETF! Go to this link for more information on this topic.

Making ETFs Mainstream Investments: The introduction of Exchange Traded Funds is one of the most significant developments in the world of investing during the past 70 years. Yet my experience in interacting with the investing public shows me that most people don't have any idea of what ETFs are, how they work or that they even exist. And advisors will not recommend them because they don't provide the sales commissions that mutual funds do. For these reasons and others ETFs today are not mainstream investments today and sales suffer because of it. 

With the increased acceptance and use of Dynamic Investments, this perception changes. When the public learns about the higher returns, lower risk and wealth protection features of Dynamic Investments, they will demand this investment type. And since ETFs are the equity type that powers DIs, as DIs become more popular sales of ETFs will soar to the point where they surpass sales of mutual funds very quickly and become the public's investment of choice. Dynamic Investments are the vehicle that will catapult ETFs from today's investing "backwaters" to the mainstream of the investing world.

The World of Investing Is About to Change

Dynamic Investments are so obviously superior to today's MPT portfolios that they will change the future of investing in virtually all areas. Many of the astonishing ways that DIs will change the world of investing are presented at this link. Let's look at major changes coming for specific groups in the investing arena:

  • For Individuals - Dynamic Investments when made known to the investing public will be in high demand based on these reasons and others: they provide investors with high returns with low risk, they are simple to implement and manage, they protect portfolios from market crashes and they erect barriers against investing scams, schemes and fraud. The introduction of DIs will bring millions of average investors back into the market who are currently sitting on the sidelines in fear of losing money using traditional investing methods. DIs will finally provide individuals with the investment vehicle they need to reenter the equities markets with confidence and without fear.
  • For the Financial Services Industry - While change is never easy for an industry that is making money hand over fist today using current investment approaches, the financial services industry should welcome and embrace Dynamic Investments. Why? Because this simple yet powerful investment type will bring millions of new customers into the market. In addition, DIs open a vast new field of new investment product development. Not only will DIs generate revenue streams in the form of management fees from a much larger client base, they will also enable financial organizations to create assets in the form of proprietary DI designs - much like index creators do today.
  • For Financial Advisors - Advisors should welcome DIs with open arms. This is an investment type that is easy to explain and provides levels of return that are impossible with MPT portfolios. They also provide a wealth of portfolio protection features that will significantly reduce the fear of clients when interacting with the world of investing. Plus, DIs don't care about the risk tolerance of any investor - so the need for advisors to try to guess at the risk tolerance of each client goes away. And using DIs, advisors don't have to "guess" at future market movements; each DI is constantly monitoring market trends and signaling trades to take advantage of them. Both of these factors free up time for advisors to concentrate on other important aspects of wealth creation such as financial planning. Go to this link for more information.
  • For Investment Product Developers - DIs open a vast new world of product development opportunities. There are an unlimited number of DIs that can be created for a wide spectrum of goals and an unlimited number of ways that DIs can be configured in a Dynamic Portfolio or a Hybrid DIT / MPT portfolio. Go to this link for more information on this topic. 
  • For Portfolio and Asset Managers - DIs give portfolio and asset managers an extensive new set of tools for meeting the performance goals of the investments under their management. Using DIs, asset managers can create portfolios with far higher returns with less risk than any MPT portfolio model can produce. And the number of ways that Dynamic Investments can be integrated into a portfolio are virtually limitless. Go to this link for more information.
  • For 401k Sellers and Managers - Most students who take my personal investing classes attend because they have no idea how to deal with their 401k accounts. They tell me that education provided by 401k suppliers is inadequate and the choices they have for investments are too limited. In other words they know they need to participate in these Plans but they don't know how. Dynamic Investments solve this problem in a very elegant manner. The NAOI has created what we call market-biased portfolios that combine elements of both traditional MPT portfolios and Dynamic Investments. The "Basic" NAOI Market Biased Portfolio is extremely simple and automatically signals trades on an ongoing basis to match market trends. By doing so it provide Plan participants with far higher returns than they are getting today with MPT, asset allocation portfolios and with significantly less risk. You can read more about this dynamic 401k Plan solution by clicking here.

The future of investing will not be like the past or even the present. It will be exponentially better for all involved through the use of NAOI Dynamic Investments. And this future will be especially profitable for purveyors of Exchange Traded Funds who will see sales of their products soar!

NAOI Support Resources

Creating DIT and Dynamic Investments is just one element of the evolution of investing that we set out to create in 2008 and released in 2016. We knew before we started that for any fundamentally new approach to investing to succeed a host of support resources would be required. Thus, along with our development of the new dynamic approach and new dynamic investment type we created support resources the we knew would be critical to their widespread use. These included support resources in the areas of education, marketing, DI creation tools, DI management tools and more.

We are now prepared to offer to the investing world more than just a new approach to investing. We are prepared to offer a total solution that can take the companies we work with seamlessly into the future of investing.

Here are just a few of the specific support resources we offer.

Powerful Dynamic Investments: The NAOI can provide the design of multiple, powerful Dynamic Investments that you can begin offering immediately and that your clients can use today. This will come as part of a Consulting Contract listed below. We will not only give you the design and management specifications for these DI's but also show you how to integrate them into your current product line without disrupting existing revenue streams.

Seminars: This is an introductory presentation that will show you all aspects of the Dynamic Investing approach and theory. Typically seminars are conducted in a group environment in the offices of a financial organization. Most organizations will want to start with this cost effective offering as a prelude to a more extensive consulting contract. See more at this link.

Classes: Organizations that wishing to create, use and/or sell Dynamic Investments will need to be trained on how to do each by the NAOI; the creators of Dynamic Investment Theory. We offer courses in DI design as well as courses on DI market and sales. These are classroom courses, similar in format to those that the NAOI has taught in Personal Investing at the college level. Each can be customized to meet the specific needs of any organization financial organization. Graduates of these classes will be among the most valuable employees that a financial organization has. See more at this link.

Consulting: Via a consulting arrangement the NAOI will work with your organization to integrate Dynamic Investments into an existing product line and define a transition plan that takes your organization from where it is now to the dynamic future of investing. The consulting contract deliverables will be customized to meet your unique needs See more at this link.

Partnerships: The NAOI is well aware that we have just scratched the surface of the potential value represented by the use of Dynamic Investment Theory and related investment approach. We are willing to share our research and ideas with select Partners who have the resources to exploit this potential further. The NAOI can show where this is possible and even how via an NAOI Partnership. At this point in time, exclusivity is possible.

Resource Summary

The concept of Dynamic Investments is simple. But effectively including them in your organization's strategic plan takes some work. The NAOI offers a variety of support resources that greatly simplifies this process and makes sure it is done effectively with a minimum of time, expense and disruption to current revenue streams.

The NAOI will work with financial organizations to determine which DIs to offer and how they can be used in conjunction with existing products. And we can show how to plan and create a proprietary DI product line that meets the strategic goals of the company with whom we work.

Contact us using the information at the bottom of this page to prepare for the future of investing today!

The Author Blog, Twitter and Email Updates

Perhaps some who read this page will understand the benefits of Dynamic Investment Theory but are left wondering just how it applies to real-life investing. I would suggest that you go to my Blog Page at this link and browse several postings. Dynamic Investments are not just for studying, they are for using!

Also any new applications that the NAOI implements will be communicated to the public either via twitter or an "Updates Email". Follow me on Twitter at @LelandHevner an get email updates by signing up to our email list at the very bottom of this page.

Summary - The People Will Decide

The NAOI created Dynamic Investment Theory and Dynamic Investments to empower individuals to become more confident investors and to be better able to take advantage of the wealth generation power of American equities markets. I believe we have met this goal by giving the public a simple approach to investing that provides to the investing public significantly higher returns with far less risk than traditional MPT portfolios do today. I believe that Dynamic Investment Theory represents the evolutionary step needed by the world of investing to cope with modern markets.

The NAOI has committed a significant amount of time, effort and expense to developing a valuable new approach to investing. But perhaps an even greater effort will be required to convince the financial services industry that this change represents an evolutionary and much needed improvement in the way we invest today.

More than a few financial professionals who have glanced at Dynamic Investment Theory have been skeptical. Initial reactions have included the assertion that this new approach is little more than a "trading system". Articles that I have submitted to financial journals have been rejected with the claim that they are a "sales job." This type of reaction is not hard to understand. After all, we have been indoctrinated for decades by self-proclaimed financial "experts" to believe that Modern Portfolio Theory and MPT-based asset allocation portfolios are the "settled science" way of investing and not to be questioned. It has become quite obvious to us that anything that threatens the status quo in an industry that profits enormously by pushing out cookie-cutter MPT portfolios to an unquestioning public is attacked with great vigor; or else simply ignored.

Well, it is not up to financial professionals to define the future of investing. That power lies with the investing public - i.e. the buyers, not the sellers. It is with recognition of this fact that the NAOI has sought the input of average people with money to invest at every step of the Dynamic Investment development process. One of the NAOI's most valuable assets is our direct access to thousands of average investors who are members of the NAOI, who have taken our courses and/or read our books. No other organization in the financial market has a more trusting connection with the investing public than does the NAOI and we make use of this asset.

When setting the goals for a new approach to investing we did so with input from individual investors. They wanted, and we gave them, an approach that was simple, provided high returns with low risk and gave them absolute protection from market crashes, human sales bias, inappropriate recommendations, scams, schemes and fraud. DIs are exponentially safer the use than MPT portfolios.

Not only did we seek the input of average investors when developing Dynamic Investments, we worked with them to incorporate DIs into their portfolios. Students who participated in this "live" field-testing of DIs were astounded by the returns they received with minimal risk. Almost without exception they vowed to never again invest without at least a portion of their portfolio dedicated to Dynamic Investments.

The fact that DI's can be easily implemented and managed by individuals on their own, if they wish, also gives the public the power of choice. People educated in the use of DIs are not forced to work with advisors as they are today when using the complex and massively subjective MPT approach to investing. DI investors can choose to work with an advisor or work on their own using an online broker. As you have read on this page, DIs are complete, self-managing, investing products that can be bought "off-the-shelf". It is this power of choice that will force the financial services industry to accept the Dynamic Investment approach described on this page and on this site. The public will demand it.

I am convinced that the introduction of the Dynamic Investment approach to investing is the next step in the evolution of investing. And I can predict with some degree of confidence that those in the financial services industry who embrace it will thrive, while those who reject it will fade away and die. That's just how evolution works.

Contact the NAOI or Leland Hevner Personally

Contact the NAOI using the information on the Contact Page of this site or contact me directly at Also sign up for the DIT Update Alerts Email List at the bottom of this page to immediately receive notice of new DIT developments as they occur.