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    1. CDA assumes that shares held at the start of the quarter are retained until the end.
    2. CDA computes the six-month rankings by linking first-quarter and second-quarter results.
    3. He is ranked by CDA Investment Technologies as the country's second best money manager for the five years ended June 30, with an annualized total return of 23.7%, compared with 17.3% for the Standard & Poor's 500 stocks.
    4. Also, CDA lumps together all stock holdings that trigger the filing of a 13F form.
    5. The table includes only broker-linked managers for which CDA shows three-year performance figures, and no more than one money-management arm per brokerage house, although some houses have more than one.
    6. The best-performing bond fund in the CDA rankings for the nine months was also Toledo's Lancz Associates, with an 18.7% rate of return.
    7. The CDA rankings are based on quarterly filings with the Securities and Exchange Commission.
    8. Because it is based on quarterly filings to the SEC, the CDA study is not influenced by these techniques.
    9. Results are based on managers' statements; CDA doesn't independently verify the information, which in most cases isn't audited.
    10. In the first half, pension fund managers tracked by CDA Investment Technologies gained an average of 26.8%, compared with the 27.4% rise in the Standard & Poor's 500-stock index.
    11. The data aren't precise because CDA calculates the returns as though the stocks were held for the entire quarter, without any stocks being bought or sold.
    12. CDA's data are based on managers' quarterly filings with the Securities and Exchange Commission.
    13. And many money managers, including Thomas Pulling, head of Shearson Asset Management Inc., say that CDA's estimates are close to managers' own performance figures.
    14. Money manager Navellier & Associates, Incline Village, Nev., (with assets of $350 million) ranks second for the year so far in the CDA tally.
    15. Siebel Capital bought its CooperVision shares mostly in 1986's first half, according to filings monitored by CDA Investment Technologies.
    16. "Every time the earnings come out, I just trade like crazy." Beekman Capital Management Ltd., with offices in New York and Seattle, ranked high in the CDA tally for the third quarter, the year-to-date and the past three years.
    17. Another top-performing manager in the quarter that didn't do as well as reflected in the CDA numbers was Richard Fontaine Associates Inc. The firm did well in its stock selections, but had only 40% of its accounts invested in the stock market.
    18. The CDA has had a place in every government coalition since the second world war, and it usually provides the prime minister.
    19. GE received only seven votes in the Rivel poll, even though CDA counts 732 money managers who own it, the highest total on its list.
    20. The CDA numbers, which are based on government filings, are considered more objective.
    21. How Brokerages Rate as Money Managers Here's how some money-management arms of brokerage houses did in rankings by CDA Investment Technologies Inc. Estimates are for one-year and three-year periods ended March 31.
    22. (Managers with more than $100 million in stock must file 13F forms; some smaller managers file them voluntarily.) According to CDA, 684 managers owned more than $27 billion of Exxon stock as of Sept. 30, the latest data available.
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