Our Investment Style Fundamental and Technical; Bottom Up; Blend of Value and Growth       We use fundamental analysis to determine a stock's intrinsic value. We seek undervalued stocks that we expect to outperform the market over the long term.       We use technical analysis, the interplay of stock price and volume with broader sector and market trends, to determine an appropriate time to invest or divest.       We seek out companies with favorable social or financial "stories" before we begin in-depth research. Because product, management style, and corporate behavior are crucial for us, we tend to seek out and research individual companies first, later analyzing the prospects of its sector and industry. This approach, particularly prevalent in social investment research, is called bottom-up.       Initially, we prepare a corporate profile consisting of the company's financial statements, publicly available reports, and selected financial ratios. Following this, we study reports compiled by others and complete a thorough periodical search on the company and industry. We almost always talk with the CFO or other company officials to gain their perspective on our research findings.       Our investment strategy results in a blended portfolio of value and growth stocks.       The value stocks we purchase are typically bargain-basement stocks, stocks that are selling cheaply relative to their historic relationship to underlying fundamentals, such as book value, dividends, cash flow, and earnings. These are often referred to as contrarian stocks.       The growth stocks we buy are of companies enjoying higher-than-average earnings growth. Although some of these issues are popular on Wall Street and may appear overvalued according to some measures, over the long term they often result in above average performance. Long-term Holding Period; Equity and Balanced Accounts       Our investment philosophy is based on a long term perspective. In order to allow us to implement our investment strategies, we encourage our clients to leave their account under our management for at least three years or a market cycle.       Each portfolio generally contains stocks of 15 to 25 companies, and we anticipate that the rate of turnover will be between 10-40% per year.       Clean Yield manages accounts consisting entirely of stocks (equity accounts) and accounts consisting of both stocks and taxable or tax-free bonds (balanced accounts). Typically, our accounts are fully invested, with 80-95% of the account in securities. The rest will be in cash or a secure, liquid, equivalent.