A word About Risk
: All investments are subject to risk and may lose value.
Statements concerning financial market trends or portfolio strategies are based on current market conditions, which will fluctuate. There is no guarantee
that these investment strategies will work under all market conditions or are suitable for all investors and each investor should evaluate their ability to
invest for the long term, especially during periods of downturn in the market. Outlook and strategies are subject to change without notice.
Forecasts, estimates and certain information contained herein are based upon proprietary research and should not be interpreted as investment advice, as an
offer or solicitation, nor as the purchase or sale of any financial instrument. Forecasts and estimates have certain inherent limitations, and unlike an
actual performance record, do not reflect actual trading, liquidity constraints, fees, and/or other costs. In addition, references to future results should
not be construed as an estimate or promise of results that a client portfolio may achieve.
This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular
security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part
of this material may be reproduced in any form, or referred to in any other publication, without express written permission.