August Economic and Market Review

Economic and Market Review August 31, 2021 Equity Indices YTD Return Dow Jones 15.53% S&P500 20.41% NASDAQ 18.40% MSCI – Europe 13.48% MSCI–Emerging 1.35% Bonds Yield 2yr Treasury 0.20% 10yr Treasury 1.30% 10yr Municipal 0.94% US Private Agg 1.31% Commodities Price Gold $1,817/oz Silver $23.91/oz Crude Oil $68.52/barrel Currencies Rate USD/CAD $0.79 USD/GBP $1.37 JPY/USD…

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Converting Your Traditional IRA to a ROTH

Converting Your Traditional IRA to a ROTH September 21, 2021 Example #1 – Full Conversion Harold has two IRA accounts. One is a contributory IRA and the other is a SIMPLE IRA and the total value of both is $22,000. Since inception, Harold has contributed $9,000 as non-deductible contributions. He now decides to convert both…

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Franchise Group is Franchising Cash

• 4.1% dividend yield poised to grow.
• Free cash flow machine and compelling valuation.
• Broad investment portfolio of strong, profitable brands.
• Strategy to acquire, develop and franchise brands.
• Brands Operating within growing markets with large total-addressable-market sizes.
• Significant recovery from COVID-19 and rapidly increasing profitability and free cash flow

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Fiserv’s Economies of Scale are a Valuable Asset

• Growth of earnings in low teens, Compelling valuation.
• Strategic partnerships and acquisitions to expand services offered to clients.
• Foothold in developing economies in LATAM and APAC, including a 65% credit processing market share in India.
• Top market share for payment processors, with nearly 4 in 10 point of sale transactions being settled through Fiserv.

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Walgreens Boots Future Looks Healthy

• 3.8% Dividend Yield, compelling valuation.
• Fantastic free cash flow, enabled by omnichannel distribution and sustainable expansion.
• Broad investment portfolio, including a significant stake in the emerging Chinese market.
• Plans to expand franchising opportunities across Asia and the Middle East.

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DXC Transforming from Value to Growth

• Compelling Valuation
• The “NEW” DXC is strategically positioned for growth stabilization and subsequent acceleration.
• New management team leads to a cultural shift and record-high employee satisfaction.
• Nearly half of all Fortune 500 firms contract DXC across 650,000 servers and 3,000 petabytes of data.
• Benefiting from move to the cloud and permanent remote work.

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Perion’s Market Grows as Consumers Switch to Online

• Over 500 advertising partners, 200 publishers, and 8 billion page views in 2020.
• Massive 82% increase in total revenue, 67% increase in the number of clients.
• AI-powered solutions to a traditionally “analog” industry.
• The total addressable market (TAM) is expected to climb to $524 billion by 2024, from $340 billion in 2020.

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High Dividend Yield with Growth from Global Recovery

• 7.6% dividend increase, hitting 4.4% yield.
• Global reach in the petrochemical value chain, including joint ventures in the US and China.
• Record quarterly revenue reported in Q2 2021.
• Largest manufacturer in the world of multiple key petrochemicals and materials used in consumer goods.
• Ambitious and promising ESG goals, joint recycling venture with SUEZ.

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