Forecasts and Trends and Forecasts & Trends E-Letter are published by ProFutures, Inc. a Commodity Pool Operator, Commodity Trading Advisor registered with the National Futures Association and the Commodities and Futures Trading Commission. Gary D. Halbert is the president and chairman of ProFutures, Inc. and editor of these publications. Information contained in the articles is taken from sources believed to be reliable but cannot be guaranteed as to its accuracy. Opinions and recommendations herein generally reflect the judgment of Gary D. Halbert, Mike Posey (or another named author) and may change at any time without written notice. Market opinions contained herein are intended as general observations and are not intended as specific investment advice. Past results are not necessarily indicative of future results. This newsletter does not constitute the offer or sale of any securities. ProFutures, Inc., its officers, directors and/or employees may have investments in programs mentioned herein. Reprinting or reproduction is prohibited without prior written consent from ProFutures, Inc.

ProFutures Financial Group is an affiliate of ProFutures Inc., and is a securities broker/dealer and a member of the NASD. Another affiliate of ProFutures, Inc., is Halbert Wealth Management, Inc. (HWM). HWM is an Investment Advisor registered with the SEC and the Texas State Securities Board. Information is taken from sources believed reliable but its accuracy cannot be guaranteed. Market opinions are intended as general observations, not specific investment or trading advice. Investments mentioned may involve risk. Please consult a competent professional and the appropriate disclosure documents before making any investment decisions. Past results are not necessarily indicative of future results, and there is no foolproof way of selecting an Investment Advisor. Not all investments mentioned are appropriate for all investors. Certain investments referred to herein may not be available in all states, and this newsletter does not constitute a solicitation to residents of any such states. Any client may receive a copy of HWM's Form ADV Part II at no charge upon request. Officers, employees, and affiliates of HWM may have positions in investments discussed herein.