1. Global Vision Advisors offers modern wealth management services for today’s changing markets.

2. Cycles of Inflation

6. Not a good time for the buy & hold! Average Bull Market = 18.5 Years Average Bear Market = 17 Years P/E: 44.2 P/CF: 1.45 Record: Price to Book Insider Selling Debt Levels Spending, etc. Spring Autumn Winter Summer Spring Autumn Winter Summer Autumn Winter Summer Spring Summer Winter Autumn BEAR

9. U.S. Debt Since 1929

10. Total U.S. Debt, 2008 Source: Federal Reserve Flow of Funds Report Government $14Trn Financial $17Trn Corporate $11Trn Consumer $14Trn

11. Consumer Debt

12. Negative Equity by Mortgage Sector Source: Deutsche Bank August 5, 2009 Report Estimated percent of borrowers with negative equity, by product Q1 2009 Q1 2011 Projected Conforming 16% 41% Prime jumbo 29% 46% Alt-A 49% 66% Subprime 50% 69% Option ARM 77% 89% Total mortgage market 26% 48%

14. Demographics

15. Spending Average Annual Family Spending by Age (5-year age groups) 46-50 $5,000 20 30 40 50 60 70 80 $10,000 $15,000 $20,000 $25,000 $30,000 Age $35,000 $40,000

16. Immigration Adjusted Birth Index Thousands

17. Immigration-adjusted Births Lagged for Peak Spending Dow Adjusted for Inflation The Spending Wave Births Lagged for Peak in Family Spending

18. Innovation Growth Boom Maturity Boom Shake-Out Spending Wave Innovation/ Inflation 1968 1978 1988 1998 2008 2018 2028 2038 We Are Here Innovation Inflation Disinflation Deflation Stable Prices Inflation Stable Prices 80-Year New Economy Cycle

19. Japanese Stock Market vs. Japanese Net Worth 1984 – 2005 Source: Japanese Family Income and Expenditure Survey

20. Why this is not the onset of a new secular bull market - Comparisons with August 1982 - From David Rosenburg: • P/E Multiples were 8x, not 26x. • Dividend yields were 6%, not sub-2%. • The stock market was trading at a discount to book, not a 2x premium. • Monetary policy was aimed at reducing money growth and inflation rates, not creating both as is the case now. • Fiscal policy was aimed at reducing nondefense spending, not accelerating it. • Deficits were peaking and coming down, not surging to 10%+ relative to GDP. • Global trade barriers were being torn down; not erected. • Deregulation back then was in; today it is all about re-regulation and government ownership. • Union membership was on the way down; today it is back on the rise. • Credit, household balance sheets and participation rates were expanding, not contracting. • Tax rates, income, capital gains and dividends, were declining then; rising now.

21. Tactical Investment Portfolio For The Global Vision Advisors' Tactical Investment Portfolio is designed to capitalize on current trends, advances in risk management and targeted asset classes that align with protecting wealth and growing assets in volatile markets. Advanced Diversification Dec-09