GOLD.XLS			Investment Non-Linear Program
					GMS	Option A	Option B	Option C		Sum of Weights
	Portfolio Return		Stnd. Dev.	Portfolio Weights
				Number of units
										100%
					GMS	Option A	Option B	Option C
				Initial Price	Ý$ÝÝÝÝÝÝÝÝ 100	Ý$ÝÝÝÝÝÝÝ 2.20	Ý$ÝÝÝÝÝÝÝ 6.40	Ý$ÝÝÝÝÝ 12.50
				Option strike price		Ý$ÝÝÝÝÝÝÝÝÝÝ 90	Ý$ÝÝÝÝÝÝÝÝ 100	Ý$ÝÝÝÝÝÝÝÝ 110
				Final Payoffs	GMS	Option A	Option B	Option C
				ScenarioÝÝÝ 1	Ý$ÝÝÝÝÝÝÝÝ 150
				2	Ý$ÝÝÝÝÝÝÝÝ 130
				3	Ý$ÝÝÝÝÝÝÝÝ 110
				4	Ý$ÝÝÝÝÝÝÝÝ 100
				5	Ý$ÝÝÝÝÝÝÝÝÝÝ 90
				6	Ý$ÝÝÝÝÝÝÝÝÝÝ 80
		Portfolio		7	Ý$ÝÝÝÝÝÝÝÝÝÝ 70
Scen-	Proba-	Ret. by	Squared	Security
ario	bilities	Scenario	Deviation	Returns (in %)	GMS	Option A	Option B	Option C
1	5%			ScenarioÝÝÝ 1
2	10%			2
3	20%			3
4	30%			4
5	20%			5
6	10%			6
7	5%			7