Protect...Grow...Repeat

Market & Economic Brief

Summer 2010

GLOBAL STOCKS
Stocks generally ended the first half of 2010 under pressure. The S&P 500 was down -7.5% and the MSCI Developed Country index declined -15.8%. Q2 earnings reports are expected to be strong but forward guidance is less certain. Leading companies held up surprisingly well as markets sold off.

WORLD ECONOMY
Leading economic leading indicators produced by ECRI continue to signal a slowdown in the U.S. economy but will need to deteriorate further before signaling another recession.

INFLATION DATA
Broad inflation pressure appears to be contained and interest rates remain very low.

U.S. RESIDENTIAL HOUSING
After a pick-up earlier in the year, home sales appear to have slowed after the expiration of the home buyer credit at the end of April in most U.S. markets.

PLANNING
New conversion rules for ROTH IRA's in 2010 may present a unique planning opportunity.

Potential tax changes in 2011 are reason to review tax strategy in 2010.

Academically Sound and Institutionally Supported

Listed below you will find a partial list of links to websites for institutions that provide support services to Dightman Capital Group. No company listed has a ownership interest in Dightman Capital Group.

Fidelity Institutional Wealth Services — (http://advisor.fidelity.com)
With nearly $1.6 trillion in total managed assets, Fidelity Investments is one of the worlds largest providers of financial services and investment resources for individual and institutional investors. Fidelity is committed to continuous improvement, state-of-the-art technology, and peerless customer service.

Barclays Global Investors — iShares (http://www.ishares.com/)
For over 35 years, Barclays Global Investors has been at the forefront of developing innovative investment ideas built on a sound investment philosophy that applies science and technology to the investment process. They focus on the three dimensions of performance: Return, Risk, and cost offering clients Total Performance Management.

State Street Global Advisors — (www.ssgafunds.com/)
State Street Global Advisors is an acknowledged leader in institutional investing with $2.0 trillion in assets under management. The world's largest institutional asset manager and leader in several other investment rankings , SSgA is also the investment management arm of State Street Corporation, one of the world's largest custodians. Leveraging these combined strengths permits us to focus single-mindedly on delivering competitive investment strategies and integrated solutions to our clients worldwide, across virtually every asset class, capitalization range, region, and style.

Research Affiliates — RAFI (http://www.researchaffiliates.com/)
Research Affiliates is a research-intensive firm that strives to be the preeminent source of innovative products that add value for the global investment community. They are committed to research that results in superior investment products, and bringing innovative products to the marketplace through strategic affiliates with some of the world’s leading financial institutions.

Powershares — Xchange Traded Funds (http://www.powershares.com/)
Powershares is “Leading the Intelligent ETF Revolution,” providing investment advisers with exceptional asset management tools and market exposure through the replication of enhanced indexes. Powershares delivers this sophisticated asset management in one of the more benefit rich investment vehicles available today, the exchange-traded fund.

WisdomTree — (http://www.wisdomtree.com/)
WisdomTree Investments has created the first family of fundamentally weighted dividend indexes that cover all major market capitalizations both domestically and internationally.