Banach Wealth Management

• 2010 Year to Date Total Returns
  S&P 500 (1101)                             0%
  U.S. 10 Yr. Bond (2.91%)               9%
  NASDAQ (2254)                           -1%
  Foreign (EAFE) Stocks                  -6%
• 2010 U.S. GDP expected expansion  2.9%
• 2010 earnings expected increase       34%
• Trading range bound stock market

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• 2010 Year to date Total Returns
  S&P 500 (1030)                                 -7%
  U.S. 10 Yr. Bond (2.94%)                    8%
  NASDAQ (2109)                                -7%
  Foreign (EAFE) Stocks                      -16%
• U.S. GDP expected expansion      =      3%
• 2010 earnings expected increase  =    34%
• Stock market correction after 14 mo. advance
• Economic recovery in process

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• 2010 Year To Date Returns
  S&P 500 (1186)                              7%
  U.S. 10 Yr. Bond (3.66%)                3%
  NASDAQ (2461)                              9%
  Foreign (EAFE) Stocks                    -1%
• U.S. GDP expected expansion     = 3+%
• 2010 earnings expected increase = 35%
• 14 month stock market advance continues
• Solid economic recovery in process

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• 2010 Year to date Returns
  S&P 500 (1084)                               -3%
  US 10 Yr Bond (3.65%)                   +2%
  NASDAQ (2179)                              -4%
  Foreign (EAFE) Stocks                     -4%
• U.S. GDP expected expansion      = 2.9%
• 2010 earnings expected increase =  31%
• Stock markets advanced for 10 months
• Economic upturn strength approaching peak

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• 2009 Total Returns
  S&P 500 (1115) 28%
  U.S 10 Yr Bond (3.85%) -11%
  NASDAQ (2269) 44%
  Foreign (EAFE) Stocks 24%
• U.S. GDP likely contraction -2.3%
• 2009 earnings expected decline -5.6%
• Stock markets hit bottom in March
• Economic recovery in process

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• A Wealth Blueprint documents the plan
• Risk Tolerances shape wealth strategies
• Ultimately cash flows must be matched

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• 2009 Year to Date Total Returns
  S&P 500 (1036)                      17%
  U.S. 10 Yr. Bond (3.38%)      -18%
  NASDAQ (2045)                     29%
  Foreign (EAFE) Stocks            19%
• U.S. GDP expected contraction  = -2.3%
• 2009 earnings expected decline = -7.1%
• Stock markets hit bottom in March
• Economic recovery in process

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• Tactics smooth out strategic portfolio return changes
• Tactics change with time horizons and risk tolerances
• Satellite asset tactics must often be more complex
  than core asset tactics
• Tactics include both change from and return to
  strategic wealth allocations and cash flows
• Tax management tactics smooth out returns

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