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General Meeting 10

December 4, 2012

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Meeting Agenda

Market Overview

Fiscal Cliff & Portfolio Update

Announcements

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Market Overview

U.S. Manufacturing declined to

its weakest point since 2009

Auto Sales shot up in

November, due to HurricaneSandy

Manufacturing

Ahead of fiscal cliff

Tax avoidance

15% to ordinary income tax level

Investors are dumping dividendstocks

Special Dividends

Starbucks, Google, & Amazon

have been accused of immoral

tax avoidance in U.K.

Due to Euro Crisis

Tax Avoidance GOP: Cut Medicare and Social Security

$2.2 trillion in deficit savings

No tax raises for wealthy (fails balance

test according to White House

Fiscal Talks Update

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Other Market News

Netflix up 15%

No financial details yet

Zero Growth by 2050?

Jeremy Grantham, $100B money managers

Oracle giving $800mm back to shareholders

HSBCs Purchasing Managers Index at 50.5 First Expansion in 13 Months

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Other Market News

US home prices rose 6.3% YoY in Oct.

MSFT sells 40mm W8 licenses

Volcker Rule final draft extended

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S&P 500

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NASDAQ

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Commodities

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FISCAL CLIFF PRIMER

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People Are Freaking Out

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What is it?

http://tv.msnbc.com/2012/12/04/excellent-simpsons-mr-burns-explains-the-fiscal-cliff/

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Why Should I Care?

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Why Should I Care?

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Why Should I Care?

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Obamas Plan

http://www.businessweek.com/videos/2012-11-30/gop-leaks-details-of-white-house-fiscal-cliff-plan

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GOP Plan

https://www.youtube.com/watch?v=L-N1905QsiA

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Portfolio Update & Outlook

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Announcements

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Announcements

Texas Investment Conference

We So Official

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