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Gay Financial Planner



Edward J. Butorac
11755 Wilshire Blvd.
Suite 1650
Los Angeles, CA 90025
T: (310) 954-8387
F: (310) 954-8303
E: ebutorac@fwg.com
Visit us online at WWW.BUTORACWEALTHMANAGEMENT.COM

Registered Representative of Securities and
Investment Advisory services offered through
Financial West Group (FWG) Member FINRA/SIPC.
BWM and FWG are unaffiliated entities.

Uncertainty, fears, lack of confidence, domestic and global economic turmoil, debt-ridden nations including our own, rebellions, revolts, man-made and natural disasters, global warming, contentious debt-ceiling negotiations, political infighting, government dysfunction, volatile markets and portfolios, stubborn housing downturns, increased foreclosures, high unemployment, a possible return to negative growth - a recession, two major wars, possibility of additional terrorists acts, downgrading of US debt, and finally the concern that the US is losing or has lost its place as number one.

It's been rare in our history when such a confluence of bad tidings has permeated everything we read, everything we listen to, almost it seems the very air we breathe. Any one of these items would be a challenge for us to confront and solve. To have them all at once seems beyond bearable. To top it off, there has been little good news to bolster the economy, the markets and our spirits.

We have sunk into a funk and there's little that seems strong enough to pull us out.

Economics is one part hard numbers, one part perception and one part feelings. Consider our high unemployment. The poor economy and the perception that it'll continue, eats away at consumer confidence. Lacking confidence, we pull back
on our spending. Spending less means companies sell less goods and services. With lowered sales, companies understandably reduce hiring and even consider downsizing. With hiring low and layoffs high, unemployment stays elevated. With high unemployment comes a poor economy- and we're back where we started. Bad news reinforces itself.
Hope seems a quality we had in the distant past.

Good news, when it comes, is quickly digested and often as quickly forgotten. We stay positive for a while, then more bad news comes, markets tumble and we wonder how we could have been so foolish for having thought things might have been getting better this time. Like the well-intentioned saviors of the boy who cried "wolf," we feel taken advantage of and betrayed.

When things were good, very few predicted the "top," no matter what in hindsight they now say they said. Likewise, no one can predict the bottom. Even the experts get it wrong. This current down cycle may last a while or something right around the corner may begin to change it. It definitely took us years to get to this place so it's conceivable that it might take years for us to fully recover.

As someone who considers himself an optimist, even I've struggled to make sense of this and try to find some light at the end of the tunnel. This is where my hope lies:

We've been in worse places before. Assassinations, two world wars, nuclear bombs deployed, rebellion by a whole generation, oil embargos and an energy crisis, a presidential resignation and finally, the very real sense that we could destroy ourselves. We've recovered from it all and subsequently even prospered.

Our resiliency and ingenuity. Sometimes necessity is the mother of invention. When pressured for solutions, we make discoveries, change courses and reinvent ourselves.

Our ability to adapt. Individuals, companies, even nations are presented with change and after what may be an initial resistance, begin to adapt to the "new normal."

Our spirit. This one is harder to define and point out, but it's at the core of our ability to overcome adversity. It's at the heart of us, our communities and our willingness to not give up.

Our hopes and dreams. This is what drives us to face our challenges, solve them, grow from our solutions and mistakes and plan for a better tomorrow despite the gloom of today.

Applying these ideas to our investments require us to stay focused on our original long term plans, reduce risks for the short term when we can, take rewards in a timely fashion, look for opportunities in market volatility and finally continue our
vigilance of events as they play out at home and around the world.

Edward J. Butorac
11755 Wilshire Blvd.
Suite 1650
Los Angeles, CA 90025
T: (310) 954-8387
F: (310) 954-8303
E: ebutorac@fwg.com
Visit us online at WWW.BUTORACWEALTHMANAGEMENT.COM

Registered Representative of Securities and
Investment Advisory services offered through
Financial West Group (FWG) Member FINRA/SIPC.
BWM and FWG are unaffiliated entities.

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Butorac Wealth Management
makes no representation as to their timeliness, accuracy or completeness or for their fitness for any particular purpose. This newsletter is not an offer to
sell or a solicitation of an offer to buy any security. The information and material presented in this newsletter are for general information only and do not
specifically address individual investment objectives, financial situations or the particular needs of any specific person who may receive this newsletter.
Investing in any security or investment strategies discussed may not be suitable for you and it is recommended that you consult an investment advisor.
Nothing in this report constitutes individual investment, legal or tax advice.
ned herein have been obtained or derived from sources believed to be reliable, but Butorac Wealth Management makes no representation as to their
timeliness, accuracy or completeness or for their fitness for any particular purpose. This newsletter is not an offer to sell or a solicitation of an offer to buy
any security. The information and material presented in this newsletter are for general information only and do not specifically address individual
investment objectives, financial situations or the particular needs of any specific person who may receive this newsletter. Investing in any security or
investment strategies discussed may not be suitable for you and it is recommended that you consult an investment advisor. Nothing in this report
constitutes individual investment, legal or tax advice