WealthProtect Status Update: September 2013

Reginald A.T. Armstrong • WealthProtect Status Update

We email the status of our WealthProtect System* monthly and give the probability (Low,Mid, High) of a change in status within the next two months. We also include acommentary on actions taken this month.

Asset Class Status Probability of Status Change

US Equities In Mid Developed Foreign Equities In High Emerging Foreign Equities Out High Real Estate Equities Out High Real Estate Investment Trusts In High Commodities Out High Energy MLPs In Mid

Commentary

Our system triggered out of Real Estate Investment Trusts at the end of August. US equities had a tough month as did fixed income. Developed foreign equities were negative but less so than US stocks. Emerging foreign equities (which we triggered out of last month) also were sharply negative. Natural resources, on the other hand, had a positive month and commodities (in which we are not currently invested) had a strong month.

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