The following RITE Report generates indices from the monthly compilation of corporate, business, economic, & political news snippets from the Wall Street Journal. RITE Report Chris Angle, Editor 19 Topledge Road (P.O. Box 708) Redding, CT 06896 Tel. 203/253-2008 Fax. 203/286-2356 Email: [email protected]http://www.stock-market-direction.net/ Date: November 30th, 2010 RITE Report Summary: 1) Wall Street Journal Corporate Snippets remain strong at 69% positive, 31% negative. 2) WSJ General Business and Economics Snippets are strong at: 59% positive to 41% negative. 3) WSJ M&A Snippet activity remains strong at 46. 4) The RITE Investment Strategy Index decreased from a very favorable 77% to 70%. Although a decrease, it is still strong. 5) It seems the Fed will continue with more dollars; thus we predict: Gold will continue its long term rise. We have been advocating this steadily for a year and a half. 6) We continue to predict oil up. 7) Inflation is with us and so our prediction that the bond market will experience an increase in the rate of interest rates.
Transcript
The following RITE Report generates indices from the monthly compilation of corporate, business, economic, & political news snippets from the Wall Street Journal. RITE ReportChris Angle, Editor19 Topledge Road (P.O. Box 708)Redding, CT 06896Tel. 203/253-2008Fax. 203/286-2356Email: [email protected]://www.stock-market-direction.net/ Date: November 30th, 2010
RITE Report Summary: 1) Wall Street Journal Corporate Snippets remain strong at 69% positive, 31% negative. 2) WSJ General Business and Economics Snippets are strong at: 59% positive to 41% negative. 3) WSJ M&A Snippet activity remains strong at 46. 4) The RITE Investment Strategy Index decreased from a very favorable 77% to 70%. Although a decrease, it is still strong. 5) It seems the Fed will continue with more dollars; thus we predict: Gold will continue its long term rise. We have been advocating this steadily for a year and a half. 6) We continue to predict oil up. 7) Inflation is with us and so our prediction that the bond market will experience an increase in the rate of interest rates.
CONTENTS
PART 1 - STOCKS 1) Business News Compilation Index2) Political & Macro Economic Events Indices3) Indicators for Technical Analysis4) Overall Investment Strategy Index5) Summary PART 2 - HEDGING 1) Hedging and Inflation Snippets2) Hedging Summary PART 1 - STOCKS 1) Business News Compilation - From The Wall Street Journal Part A - Negative WSJ Corporate News Snippets 11/01- Smurfit Profit Drops 4.4%- TNT Posts 24% Fall in Profit- Allergan Swings to Loss on Botox Deal- Cooper Tire's Profit Falls11/02- Gulf Spill Costs Hit BP's Net Profit- Kellogg Profit Drops 6.4%- Pfizer Earnings Fall 70%- ADM Profit Drops 30%- Ambac Warns of Bankruptcy11/03- Freddie Mac Reports $2.5 Billion Loss- Time Warner Profit Drops- CenturyLink, Qwest Post Sales Declines- CVS Earnings Tumble- KKR Earnings Slide- Pulte's Loss Reaches $995.1 Million
- Statoil Cuts Production Forecast11/04- Alstom's Profit Slides 29%11/05- HSBC Profit Growth Slows- AIG Lost $2.4 Billion In Third Quarter- Fortress Loss Widens; Assets Rise- Lafarge Profit Slips- Kraft Profit Falls 8.5% on Costs11/08- Chrysler Reports Loss- Weak Demand Hits Gazprom- Sysco Earnings Fall 8.3%- Berkshire Profit Falls 7.7%- Charges Hit AIG Results: Insurer Reports $2.4 Billion Loss; Main Businesses Improve11/09- Weaker Margins Hit Enel Profit- Dean Foods Earnings Fall 51%- Trading Hurts Intesa Profit- Barclays Profit Slumps- Crucell Posts Loss on Contamination Costs- Korea Exchange Bank Net Profit Slips 31.3%11/10- Allianz Profit Slips- Drop in Interest Income Weighs on UniCredit Results- Restructuring Hits Dexia Results- Bharti Airtel Profit Falls 27%- HKEx Posts Slight Profit Fall11/11- Viacom Net Falls 59%- SingTel Net Profit Falls; Ups Dividend Payout Ratio- Campbell Soup Lowers Outlook- Futures Slip After Cisco Disappoints- 3i Group's Results Point to Turnaround11/12- Wendy's Posts Loss, Presses Peltz to Act- Rusal's Net Profit Falls 55%- Resona Profit Falls 4.5%- Disney Profit Declines 6.7%
- RWE Warns on 2011 Profit11/17- Roche to Cut 4,800 Jobs11/18- Sears Loss Widens- American Eagle Net Falls11/19- Gap's Profit Edges Lower- Children's Place Results Slide11/23- Zale's Loss Widens11/24- Medtronic Takes Legal Hit11/26- Provisions Hit Piraeus Bank Profit11/29- National Bank of Greece's Profit Falls 74%- Provisions Hit Piraeus Bank Profit11/30- Rémy Cointreau Profit Slips Negative Corporate Snippets Total = 60 Part B - Positive WSJ Corporate News Snippets 11/01- Alberto-Culver Profit Rises 31% on Stronger Sales- ICBC Growth Helps Bolster Office Sector- Ad Recovery Lifts WPP Sales11/02- Developing Markets Buoy Reckitt Benckiser- Lloyds Strikes an Upbeat Note- Och-Ziff Distributable Earnings Rise- LNG Business Lifts BG Group's Profit- Imperial Tobacco Profit Jumps- MasterCard Earnings Top Forecasts- Metro's Net Profit Doubles- NYSE Euronext Profit Up Despite Revenue Drop- Generic Drug Sales Boost Teva- Suzuki Motor Net Profit Doubles
- Mitsui Profit More Than Doubles- Simon Bides Its Time: Mall Owner, Thwarted on GGP, Posts Growth, Keeps Eye Out- Ryanair Lifts Full-Year Forecast- Corning Sees Glass Prices Falling: third-quarter profit jumped 22% on solid increases in sales and margins.- Baker Hughes Profit Jumps Amid Acquisition- ICE Profit Up 10%11/03- GM's October Sales Rose 3.5%- AB Inbev Profit Rises- Ally Financial Posts Profit- AOL Profit Climbs Sharply- BMW's Net Profit Surges- WellPoint Net Rises 1.2%- Aetna's Profit Jumps- MGM Resorts Loss Shrink- Molson Coors, MillerCoors Post Higher Profits- Société Générale's Profit Doubles- Vivo Stake Sale Boosts PT Profit- CSR Swings to First-Half Profit- Germany's Continental Lifts Forecast- Wynn Macau Net Jumps 57%- Electronic Arts Posts Narrower Loss11/04- Cablevision's Profit Rises 13% as it Adds Data Customers- Elpida Swings Into Black- DBS Profit Up on Trading- CBOE Profit Rises Despite Volume Drop- Alcatel-Lucent Returns to Profit- BNP Paribas Profit Rises 46%- Time Warner Cable Profit Rises- Adidas Lifts Full-Year Forecast- Yamaha Motor Swings to Profit- Elpida Swings Into Black on Stronger Chip Demand11/05- RBS Loss Narrows- Washington Post Profit Surges- Liberty Media's QVC, Starz Post Profit Gains- Nissan Profit Rises Sharply
- Activision Net Triples on Higher Margins- Emerging Markets Lift Unilever11/06- Toyota Posts Net Profit of $1.2 Billion11/08- Commerzbank Swings to Profit- Lagardere Maintains Forecast- Fortress Boasts Return to High-Water Marks11/09- Singapore Air Posts Profit- Covidien Profit Soars- Fossil Profit Nearly Doubles, Raises View- Tata Motors Net Profit Surges- Tyco Net Rises 30%- Munich Re's Net Profit Climbs- Marsh & McLennan Profit Falls, But Revenue Rises- Toshiba Profit Surges- Carlsberg Lifts Profit Forecast- Deutsche Post Swings to Profit- Mobile-Phone Unit Drives NTT Profit11/10- Crédit Agricole's Profit Surges- Maersk Sees Trade Rebound Continuing- Delhaize Profit Rises- Infosys CEO Tips Higher IT Spending- Tencent Profit Rises 52%- Hannover Re Raises Forecast- GE Boosts Outlook for Health Business11/11- Telefonica's Profit Doubles- Vedanta First-Half Net Profit Jumps- BT Raises Earnings Forecast- Higher Margins Lift Repsol- RWE's Net Profit Edges Higher- Aegon's Profit Soars- GM Reports $2 Billion Profit- Tim Hortons Looks Primed to Percolate- Asia Bolsteing U.K. Pru's Sales- Polo Ralph Lauren Earnings Up 16%- Macy's Posts Profit as Sales Rise Nearly 7%
- Aozora Raises Outlook as Profit Surges- Alibaba.com Profit Rises 55%- Lenovo's Profit Rises 44%11/12- Penney's Profit Rises 63%- Richemont's Earnings Rise 88%11/13- Wendy's Posts Loss, Presses Peltz to Act- Richemont's Earnings Rise 88%11/15- Lowe's Profit Rises 17%- CBA Cash Earnings Top $1.5 Billion- Cathay Pacific Forecasts Record Profit- Tariffs Boost EDF's Revenue11/16- Burberry Profit Jumps; Retailer Held Line on Pricing- Sales, Profit Increase at TJX- Nordstrom Net Up Despite Sales Drop at Outlets- Videogames Unit Boosts Vivendi11/17- Target Profit Rises 23%- Sina's Net Surges 87%- Saks Posts Sharply Higher Profit- Wal-Mart Profit Rises 9.3%- Home Depot Net Rises on Cost Controls, Share Buybacks- ArvinMeritor Swings to Profit- Infineon Profit Prompts Dividend- Abercrombie & Fitch Profit Rises, Margins Narrow11/18- Staples Earnings Improve- Cerberus Makes a Killing Again- GameStop's Net Rises 4.8%- Buckle to Pay Special Dividend- Williams-Sonoma Raises Outlook- SABMiller Warns on Spending: posted a 15% rise in first-half profit, boosted by sales growth in its emerging markets and cost-cutting.- Glencore Profit Surges 45%- IPO Increase Lifts LSE Profit- National Grid's Profits Rise 9.2%- Air France-KLM Swings Back to Profitability
- Target Optimistic After Solid Quarter- Limited Brands' Profit Jumps11/19- Heinz Earnings Rise 8.6%- AnnTaylor Posts Higher Profit- Dell's Quarterly Profit Jumps- LSE Profit Rises, Sets Start of Derivatives Trading- Ahold Outperforms Rivals in U.S.- Smucker's Profit Rises 6.9%11/22- Tyson Swings to Profit11/23- Campbell's Soup Sales Slow- Hormel Net Rises 17%- Profit Jumps at DSW- MphasiS Net Profit Climbs 16%11/24- Tiffany Sees Strong Holiday Sales- Deere Swings to Profit- Porsche Sales Accelerate11/30- Barnes & Noble's Loss Narrows- ThyssenKrupp Swings to Profit- Higher Prices Lift Lukoil Profits Total of Positive Corporate News Snippets = 133
Index of Snippets: Positive Trend is in Place
Month of Snippets % Positive Snippets % of Negative Snippets
March 09 5% or less Approx. 95% or more
April 09 35% 65%
May 09 55% 45%
June 09 56% 44%
July 09 44% 56%
August 09 41% 59%
September 09 51% 49%
October 09 57% 43%
November 09 58% 42%
December 09 59% 41%
January 2010 72% 28%
February 2010 69% 31%
March 2010 65% 35%
April 2010 73% 27%
May 2010 78% 22%
June 2010 74% 26%
July 2010 73% 27%
August 2010 69% 31%
September 2010 63% 37%
October 2010 76% 24%
November 2010 69% 31% 2 & 3) Political Risk & Macro Economic Events/News A) Negative WSJ Economic and General Business Data Snippets 11/02
- World Bank Cuts Russia Growth Forecast11/03- R&D Spending Drops at Major Firms11/03- OECD Cuts 2011 Growth Forecasts11/04- Jobless Claims Up11/05- German Industrial Orders Tumble- Euro-Zone Retail Sales Fall11/08- Junk-Bond Sellers Find Risk Too High- Ireland's Next Blow: Mortgages- U.K. House Prices Drop- German Industrial Production Slips11/11- Spanish Recovery Stall- Weak Revenue Hits Greece- Debt Fears Hit Euro Again11/12- Euro-Zone Growth Eases in Third Quarter11/17- Spanish Economy Stalls11/18- Taiwan Economy Slows11/23- Divided Fed Lowered Growth Forecasts- Portugal Focus of Debt Fears- Fed Trims Outlook on Growth and Jobs11/24- Philippine Economy Slows- Euro-Zone Factory Orders Slip - New Home Sales Tumble11/26- Euro-Zone Debt Crisis Escalates- Slow Growth Stymies Portugal11/29- Roubini: Rash Policy Is Jeopardizing Growth- U.K. Cuts Growth Forecast- Greece Seeks Grace on Its Repayment
11/30- Home Prices Decline- Contagion Fears Grow- EU Bailout Plans Fail to Bring Calm- Japan Industrial Output Falls 1.8% Total of Negative General Business and Economic News Snippets = 31 B) Positive WSJ Economic and General Business News Snippets 11/01- China, India Manufacturing Surge- India Exports Up 23%- U.K. Manufacturing Picks Up11/02- For Utilities, Hot Summer, Hotter Profits- Euro-Zone Output Growth Picks Up- New Orders, Exports Lift Manufacturing11/03- Factory Orders, Service Sector Expand- World Bank Raises Its China Forecast- U.K. Services Sector Expands11/04- Productivity Jumps11/05- Economy Adds 151,000 Jobs- Profit Gains Continue as Costs Percolate- October Sets Record for Global IPO Dollars11/08- Profit Gains Continue as Costs Percolate- Banks Ease Loan Standards- U.S. Sees Surprise Growth in Jobs11/09- IEA: Chinese Demand to Lift Oil Prices11/10- Small-Business Optimism Rose Modestly in October- Businesses Gaining Confidence11/11- PC Shipments Rise11/12
- Consumers More Upbeat11/15- Autos Push Retail Sales Up- Japan GDP Growth Quickens- Dividend Increases Spur New Interest11/18- OECD Raises India's Growth Estimate to 9.1%11/21- Euro-Zone Consumer Confidence Improves- GDP Growth Is Revised Up11/23- Euro Zone's Private Sector Grows- German Growth Remains Solid- French Private-Sector Expands- U.K. Mortgage Lending Grows11/24- New Home Sales Tumble- German Business Confidence Rises- U.K. Economy Shows Steady Growth- Fitch Raises Turkey Outlook- Corporate Profits Hit Record- Fitch Raises Turkey Outlook- U.K. Retail Sales Rise Sharply- Consumer, Jobless Data Offer Hope on Economy11/26- Euro-Zone Bank Lending Rises11/29- Server Sales Soar11/30- European Data Have Positive Sheen- India's Economy Grows 8.9%- Euro-Zone Confidence Maintains Rise Total of Positive WSJ General Business and Economic News Snippets: 44 C) Merger/Acquisitions/Public Offerings Snippets From the Wall Street Journal 11/02- BBVA to Buy Garanti Stake- Ferrovial to Sell Swissport
- M&T To Acquire Ailing Wilmington Trust11/03- BofA, PNC To Sell Chunk of BlackRock Stakes11/04- HSBC Sells Rail Unit11/08- TPG to Buy Ashland Unit- Morgan Stanley to Take Smith Barney- Shell Sells Part of Woodside Stake- Amazon Expands With Diapers, Soap Deal- TPG to Acquire Avon's Japanese Unit- Reliance Signs $2.2 Billion Deal With GE, Others11/09- Vodafone to Exit Softbank- Chevron to Buy Atlas Energy- Sara Lee to Sell Bakery Unit11/10- ICBC to Raise $5.1 Billion in Rights Issue- Porsche Owners Sell Sales Unit to VW11/11- Morgan Stanley to Sell Invesco Stake for $664 Million11/12- Icahn Raises Dynegy Stake- Mizuho to Buy BlackRock Stake- Petronas Unit IPO Set to Raise $4.2 Billion- Newsweek, Daily Beast Set Merger11/15- Caterpillar to Buy Bucyrus- EMC to Buy Isilon for $2.25 Billion11/17- Northern Foods, Greencore to Merge- GM's IPO May Raise Record Amount: General Motors Co. said Wednesday that it will increase the size of its initial public offering by about 30% to 478 million shares, which could make it the largest global IPO in history- German Business Confidence Improves11/18- IPO Increase Lifts LSE ProfitIPO Increase Lifts LSE Profit- Norway Central Bank Owns 7.5% of BlackRock- Cardinal to Acquire Kinray- Genzyme to Sell Diagnostic Business to Sekisui
11/22- Scotiabank To Buy Rest of DundeeWealth- Investor Group to Buy Novell- Orascom Unit Sold for $1.2 Billion- Exxon Sells Some Gulf Stakes11/23- J. Crew Agrees to $3 Billion Buyout- Alwaleed Invests $500 Million in GM- Carlyle, Accel Buy Stakes in OzForex- Coty to Buy Philosophy11/24- Hana Signs $4.1 Billion KEB-Stake Deal- Ford Exchange Reduces Debt By $1.9 Billion- Reliance Globalcom to Raise Up to $500 Million11/26- Del Monte Foods in Buyout11/30- Husky Energy Buys Assets From Exxon- Cardinal Health Buys Chinese Firm- O3b Raises More Funding- Mellanox to Acquire Voltaire Merger/Acquisition/Public Offerings WSJ Snippet Total: 46 D) NEGATIVE ECONOMIC OPINION SNIPPETS FROM THE WSJ None this month. E) POSITIVE ECONOMIC OPINION SNIPPETS FROM THE WSJ None this month
Table of Positive v. Negative General Economic & Business News With Investment Banking Snippet Count
Month % Negative Snippets
% Positive Snippets
M & A,Public Offering
Snippets
August 09 40% 60% 12
September 09 48% 52% 30
October 09 34% 66% 24
November 09 33% 67% 31
December 09 38% 62% 35
January 2010 48% 52% 25
February 2010 43% 57% 28
March 2010 34% 66% 40
April 2010 33% 67% 47
May 2010 53% 47% 38
June 2010 51% 49% 52
July 2010 50% 50% 42
August 2010 50% 50% 49
September 2010 48% 52% 67
October 2010 48% 52% 58
November 2010 41% 59% 46 3) Technical Analysis Summary
Sept 30, 2010(August data unless otherwise noted.)
Oct 31, 2010(Sept data unless otherwise noted.)
Nov 30, 2010(Oct data unless otherwise noted.)
TREND and/or COMMENT
Q2: 1.7%(Revised)
Q3: 2.0 Q3: 2.5%(Revised)
Flat
9.6% 9.6% 9.6% Flat
0.2% - 0.2% 0.0% Flat
56.3% 54.4% 56.9% Flat
$363.7 billion
$367.7 $373.1 billion Upward
July: 0.2% Aug 0.4% Oct: 0.4% Flat
Downward Neutral Neutral Up slightly from last month but trend is level.
598,000 610,000 519,000 Trend is level
4.13 million 4.53 million 4.43 million Trend is downward
July: $42.8 billion
Aug: $46.3 $44.0 billion Overall upward trend
Decrease Increased Small Increase Increased
Unchanged Increased Small Increase Increased
4 Positive1 Negative7 Neutral
4) RITE Investment Strategy Index Scale:0 = Neutral;+10 = High Opportunity Environment;
-10 = Extreme Negative Risk Miasma
EFFORT, RISK, FREEDOM, KNOWLEDGE/INFO
October 31REPORT
Nov 31Report
COMMENTS
1) Domestic Political Risk
3 - 1 It appears Bush tax rates will not be continued.
2) Tax Risk - 5 - 1 It apears Bush tax cuts will not be continued.
3) Individual Incentive - Freedom
0 0 Assault on Freedom will Abate
4) Production of Knowledge
+ 5 + 5 Positive corporate snippets persist; ergo, the potential for R&D investment.
5) Technical Analysis of the U.S. Stock Markets
+ 5 + 3 Although market is in an upward trend since July, it undergoing a correction.
+ 4 0 Decrease on Indicators from last month: Pos 4; Neg 1; Neutral 7
9) Merger/Acquisition Activity
+ 10 + 10 Still Strong at 46
Sum of Total 33 31 Sudden Large Increase
Average of Total + 15.375 14 Slight Increase
Percentage of Equity Commitment
77% 70% Although down from last month, still a favorable score.
History of Strategy Index
Month & Year
Percentage Index
DJIA Gold Oil USD Index
October 2009
72.2%
November 71.6%
December 72.8%
January 2010
71.1%
February 73.35%
March 66%
April 68%
May 1 70% 11,008.61
June 1 56.1% 10,024.02
June 30 56.6% 9,774.02
July 30 52.8% 10,465.94 1,183.5 78.99 81.655
Aug 31 55.7% 10,014.72 1,248.1 72.29 83.165
Sept 30 61.1% 10,788.05 1,309.3 79.81 78.94
Oct 29 77% 11,118.49 1,359.8 81.45 77.165
Nov 30 70% 11,008.02 1,386.1 84.11 81.42 5) Summary EQUITY MARKET CONCLUSION: The corporate profit news is great, the General Business and Political News is strong. Although the RITE Strategy Index decreased, it is still strong. Nevertheless, the investor is recommended to decrease his equity position to 70%. Overall, it is a good time to go long on stocks. PART 2: HEDGING 1) HEDGING/INFLATION SNIPPETS FROM THE WSJ Deflation 11/08- Bernanke Defends Fed's Moves11/17- Inflation Remains Muted: U.S. consumer prices continued to rise modestly in October on the back of higher gasoline prices, but underlying inflation was flat for the third month in a row.- Wholesale Prices Climb Only Slightly
11/18- U.S. Inflation Virtually Flat: A key gauge of U.S. inflation has fallen to its lowest level since record-keeping began in 1957, underscoring the continued weakness in the economy. Consumer prices rose 0.2% in October compared with September, almost entirely because of higher energy costs, the Labor Department said Wednesday. Inflation 11/05- G-20 to Grill U.S. Over Fed Stimulus- Fed Treads Into Once-Taboo Realm- Profit Gains Continue as Costs Percolate- Germany Criticizes Fed's Plan11/08- Fed Global Backlash Grows- Germany Criticizes Fed Move: Finance Minister Says Policy 'Doesn't Add Up,' Sees U.S. Model in 'Deep Crisis'11/11- 'QE2' in the Dock: Some Yields Go Up: The Fed's latest "quantitative easing" program is designed to bring down interest rates, but some are moving up instead. Rates have risen lately as investors avoid U.S. government debt11/13- Embarrassment in Seoul: The world won't follow slow-growth, weak-dollar America.11/15- Fed's Bond Plan Faces Fresh Attack: The Fed's latest attempt to boost the U.S. economy is coming under fire from Republican economists and politicians, threatening to yank the central bank deeper into partisan politics.- Treasurys Drop on Bernanke Backlash11/18- Struggling to Make Sense of Quantitative Easing- 'Refudiation' of $600 Billion Printed Out of Thin Air: long-term interest rates have actually gone up following the Fed's recent QE2 announcement. The markets took one look at the Fed's pump-priming plans and decided they had to increase interest rates—probably in order to compensate for the expected rise in inflation. - Sarah Palin11/19- Higher Gas Prices Greet Holiday Travelers- Criticism Hinders Fed's Plan
2) HEDGING SUMMARY a) Gold: The news and the Inflation Table continues to indicate that inflation is on the rise. Further, the Fed seems intent on decreasing the value of the U.S. Dollar. Continue to go long. IT IS STILL A GOOD TIME TO BUY THIS COMMODITY. d) The U.S. Dollar: The Euro Debt Contagion has abated the slide of the US Dollar temporarily. Once that concludes, re-establish down side protection on the value of the US Dollar. c) Bonds: As inflation is here, once the European debt contagion abates, consider hedging your bond portfolio as this Report predicts that there will be a general rise in interest rates. RITE ReportChris Angle, Editor19 Topledge Road (P.O. Box 708)Redding, CT 06896Tel. 203/253-2008Fax. 203/286-2356Email: [email protected]://www.stock-market-direction.net/ (The RITE Report’s name was derived from the acronym of the four variables inherent in all economic transactions; Risk, Information/Knowledge, Time, and Effort. Of course, this would be for a service, and if the product were a material good, there would be an additional factor of Material - or Land as the economist would say. See The Philosophical Equations of Economics at www.philosophypublishing.com for further info on this subject.) For Your Reference: CUSTOM RESEARCH: Please note that custom economic and/or macro investment research is available on request.
SELF-ADVERTISEMENT BLURB: Chris Angle is the author of: The Nature of Aesthetics - 978-0-9661126-4-1Defining Ethics Good & Evil - 978-0-9661126-5-8Truth and the Nature of Decisions - 978-0-9661126-6-5The Philosophical Equations of Economics - 978-0-9661126-3-4 These books may be viewed at: www.philosophypublishing.com DISCLAIMERS/CAVEATS: 1) Past performance is not indicative of future results. 2) Trading futures and options involves substantial risk of loss and is not suitable for all investors. Carefully consider the suitability based upon your experience, objectives, financial resources and other relevant circumstances. Alternative investment products, including hedge funds and managed futures, involve a high degree of risk. Alternative investment performance can be volatile and are not suitable for all investors. An investor could lose all or a substantial amount of his or her investment. 3) This communication does not constitute an offer to sell, or a solicitation of an offer to buy or sell, any products named herein, commodities interests, futures contracts, or securities, and is intended for informational purposes only. Any offer for any investment product will be made solely by the appropriate disclosure document or private placement memorandum. 4) The RITE Report has been prepared either from publicly available information or reflects the opinions of the author. Information contained in this report is believed to be reliable but may not have been independently verified. The RITE Report does not guaranty, represent or warrant, or accept any responsibility or liability as to, the accuracy, completeness or appropriateness of the information contained herein. At no time will the RITE Report make specific recommendations for any specific person, and at no time may a reader, caller or viewer be justified in inferring that any such advice is intended. Information contained herein may not be current due to, among other things, changes in the financial markets or economic environment. Opinions reflected in the materials are subject to change without notice. Forecasts represent estimates. Information provided by the RITE Report is expressed in good faith, but it is not guaranteed. Long-term success, trading or investing in the markets, demands recognition of the
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