General Meeting #9

November 1, 2011

Agenda

• Question of the Day• Market Overview• Portfolio Overview• Economic Facts and Fallacies• Team Stock Pitch• Membership Voting• Announcements

Market Overview

World Market Overview

U.S. Market Overview

S&P 500 Snapshot

Market Overview

U.S. Markets

• Greece…wtf are you doing?– Prime Minister stuns world by

calling for a referendum– The first since 1974 when Greece

chose to abolish Monarchy– Can be called if proposed by

cabinet and approved by majority in the 300-member parliament

– Likely to be held in January– Many in parliament opposed this

measure• Greece: “Suck it Eurozone.”

EU Bailout Saga

Portfolio Overview

Economic F&F

• “If you want to see rapacious income inequality, you no longer need to visit a banana republic. You can just look around.”

• “I’m appalled by our growing wealth gaps because in my travels I see what happens in dysfunctional countries where the rich just don’t care about those below the decks.”

Income Stratification?

“The result is nations without a social fabric or sense of national unity. Huge concentrations

of wealth corrode the soul of any nation.“

“The top 1 percent of American households own 34 percent of America’s private net worth.”

Economic F&F

o 77% of the wealthiest fifth work full time vs. 17%o Wealthiest fifth has nearly 5x more income earnerso 75% of wealthiest fifth in prime income yrs vs. 43%o Homogamous marriages lead to concentration

Economic F&F

• Top 1%: $343,900

• Top 5%: $154,600

• Top 10%: $112,100

• Top 25%: $66,100

• Top 50%: $32,300

U.S. Occupy Wall St.

• Top 1%: $34,000

• Top 10%: $12,000

• Top 20%: $5,000

• Top 50%: $1,225

• Top 0.1%: $70,000

World Occupy Wall St.o 2.8 billion people earn less that $2 / dayo Bottom 1% of US make more than 97% of Indiao 60% of income variability determined at birtho Of the American ‘poor’:

o 99% have electricity, running water, toilets, refrigerators

o 95% have a televisiono 88% have a telephoneo 71% have a caro 70% have air conditioning

Economic F&F

o The top 1% of America pays more taxes than the bottom 95% combined

o In order to offset a ballooning federal budget deficit, is it necessary to hike taxes on wealthy?

o What effect to tax rates have on tax revenues?

Should Capital GainsTaxes Be Increased?

Stock Pitch

Membership Voting

Is this stock investment grade?

BofAML Presentation

• AT&T Executive Center, Room 103

• Company representatives from the following divisions:

– Investment Banking

– Capital Markets (Sales & Trading)

– Commodities Trading

• Food and beverages provided

• Business casual required, professional recommended

Wednesday, November 9th, 7:00 – 9:00 PM