A fund assessment that did not go well! (m)

I suggested in my introduction to the fund review part of the site that I might find my research led me up a blind alley from time to time.  I have published a short note on a diversified return fund from Newton that in the end I could not be positive about, as this may be helpful for readers doing their own research.  The note shows in simple terms how basic data can look encouraging but digging a bit deeper can reveal all is not exactly as one might like.