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.

About Us

When placing your money in the hands of another for investment, you expect a relationship of trust has formed, and this trust is the most important factor when deciding who will take your money, keep it safe, and, at the same time, diligently nurture its growth. In addition, the invaluable investment manager does not merely rely on what has worked in the past, but is examining what is working in the current market, with the understanding that any plan is only as good as the environment that envelops and supports it.

Dightman Capital Group is forging the way for innovative and sound investment management by building upon a reputation of integrity, transparency and adaptability in response to the modern market.

Brian Dightman - Investment Officer, President

After 6 years at RBC Dain Rauscher managing investments and wealth plans, Brian concluded that the best way to manage investments and wealth planning was by acting as a fiduciary specialist for his clients. He subsequently formed Dightman Capital in 2007. Brian has experience with a wide array of investment management and wealth-planning needs, including section 16 officer diversification plans. Brian is committed to a life of learning and actively publishes articles in leading financial publications. In addition to individual learning goals, he has set rigorous goals for Dightman Capital. The performance calculations for Dightman Capital are based on the GIPS standards. The firm is undergoing the GIPS verification process with an anticipated completion expected in the Fourth Quarter of 2010.

Brian volunteers regularly at his local church and also participates in a weekly community-building group. In addition, he takes great pride in staying active in the lives of his sons and fostering their education, which in the past has included teaching a weekly series to his son's class about classical composers, a subject of great interest to him as an amateur composer/pianist himself. Brian has a Bachelor in Business Administration degree from the University of Missouri - Kansas City. He has travelled to several countries in Europe and Asia. Brian is married to Michelle; they have two sons and live in Bellevue, Washington.

Erin Dightman - Client Development

Erin brings to Dightman Capital over ten years experience in client development. She has worked in a variety of industries, focusing on developing and implementing programs that provide long-lasting client relationships. Her background includes client development for United Advertising Publications and The Charles Schwab Corporation. She has also been employed as an Airline Transport Pilot (ATP) rated pilot. Her ATP duties included piloting as First Officer and managing the operations of a fleet of jet aircraft for business clients in Tucson, Arizona. She has traveled extensively in the United States and internationally. Most recently, she served as a marketing specialist in the medical field. Erin holds a Bachelor Degree in Liberal Arts from the University of Washington. She enjoys caring for animals, traveling, and the outdoors.

Michelle Dightman - Operations

Bringing an extensive background in both profit and non-profit accounting and operations, Michelle works with Dightman Capital vendors to ensure areas of accounting and administration are carried out smoothly. With a love of the start-up environment and a champion of small business entrepreneurs, Michelle last served as the assistant controller for VentriPoint, a heart diagnostic medical device organization, adding to the now seven start-up ventures she has had an operational and accounting role in over the past 25 years. Prior to VentriPoint, she had the pleasure of serving over six years as an accountant at the Bill & Melinda Gates Foundation. Michelle's time at the Gates Foundation encouraged her and the Dightman family to focus and increase their charitable efforts and to offer more of their time, talent and money to those with the greatest need in society. As such, Michelle devotes time volunteering for children's ministries and organizations dedicated to enriching the lives of children.

Service Providers

Behind Dightman Capital is a team of people and organizations assisting the firm to deliver a consistently high-standard of service. Fidelity Institutional Wealth Services is our primary custodian offering a rich technology platform, the convenience of local offices and a team of service professionals to call on. Premier Business Centers provides reception, office support, IT network support and facilities management services. Accounting services are provided by William+Callan, PLLC. Advent Software provides the portfolio accounting system and Sungard our financial planning solution. Compliance Consultants assists with regulatory filings and other compliance items. GIPS support is provided by Absolute Performance Verification. MediaPlant is our website development partner. Global Relay manages our email communications platform. TVC Consulting has advised and implemented selected technology solutions for the firm. Through partnerships and external resources, the firm has developed considerable operational capacity.

Community
On behalf of our clients, Dightman Capital is a honored to be part of the Treehouse Builder Program. For more information, click on the logo below.