The FALLBACK FUNDAMENTALS methodology developed by Mr. Varner is a fundamentals based trading approach that is able to assimilate dynamic fundamental and technical inputs into forming long term trading ideas. Fallback Fundamentals starts with a bottom up approach to each commodity market where the supply and demand fundamentals are studied. Each component of the supply and demand equation is examined and Mr. Varner will make projections on how each component will move in the future. This analysis involves intense data analysis as well as two way discussions with cash specialists in each commodity. Overall macroeconomic conditions and outlooks are integrated into the supply and demand analysis. This process evolves the simple supply and demand equation into a working model which gives a range of scenarios of future price direction and the potential catalysts that can trigger a fundamental shift in the market and therefore move price. If there is a perceived mispricing in current forward pricing of a commodity versus the Fallback Fundamentals outlook, an opportunity to engage a trade is presented. Redleaf will seek to design a trading plan that minimizes risk while providing a favorable return on capital.