1. State of the Economy
February 6, 2014

2. Equity Market Performance for 2013

3. US Equities – Historical Comparison

4. Households are in a Strong Debt Position

5. Labor Markets Continue to Trend Positive

6. International Equities – Good Values
Source: J.P. Morgan

7. 30 Year Bond Bubble
Source: J.P. Morgan

8. Rising Rates – Negative Impact on Bonds

9. Equity Asset Class Return

10. Volatility has increased but still in Range
Source: Bespoke Investment Group

11. U. S. Markets & Economy

12. Housing is in a Position for Growth
Source: J.P Morgan

13. Corporate Financial Health Very Strong
Source: J.P Morgan

14. Capital Expenditures in a position for Growth

15. Government not a drag to GDP Growth in 2014

16. The Energy Position Strong Tailwind for US Economy
Charles Schwab

17. U.S. Manufacturing Coming Back?
Charles Schwab

18. 3 Consecutive Quarters of Manufacturing Growth
Source: Charles Schwab

19. Is the Market Overvalued?

20. S&P 500 moving into an Oversold Range
Source: Bespoke Investment Group

21. International

22. The Long-Term Story Behind Emerging Markets

23. International Valuations – Very Reasonable

24. Global Market Cap vs. GDP

25. The Long-Term Story Behind Emerging Markets

26. Fixed Income

27. The Problem with Bond Indices
Source: Manning & Napier

28. Remember Role of Bonds in the Portfolio

29. Inflation

30. What is Keeping Inflation Low?
Source: Charles Schwab

31. Commodities

32. Commodity Supercycle Over
Source: Charles Schwab

33. The Performance of Equities & Commodities

34. Secular Bull Market Relative to Gold
Source: Charles Schwab

35. Portfolio Perspective

36. The Importance of Broad Diversification

37. Asset Classes and the Business Cycle
Source: Manning & Napier

38. Disclosure
Please remember that past performance may not be indicative of future results.
Different types of investments involve varying degrees of risk, and there can be no
assurance that the future performance of any specific investment, investment strategy,
or product (including the investments and/or investment strategies recommended or
undertaken by Bouchey Financial Group, Ltd.), or any non-investment related content,
made reference to directly or indirectly in this newsletter will be profitable, equal any
corresponding indicated historical performance level(s), be suitable for your portfolio or
individual situation, or prove successful. Due to various factors, including changing
market conditions and/or applicable laws, the content may no longer be reflective of
current opinions or positions. Moreover, you should not assume that any discussion or
information contained in this newsletter serves as the receipt of, or as a substitute for,
personalized investment advice from Bouchey Financial Group, Ltd.. Please remember
to contact Bouchey Financial Group, Ltd., in writing, if there are any changes in your
personal/financial situation or investment objectives for the purpose of
reviewing/evaluating/revising our previous recommendations and/or services. Bouchey
Financial Group, Ltd. is neither a law firm nor a certified public accounting firm and no
portion of the newsletter content should be construed as legal or accounting advice. A
copy of the Bouchey Financial Group, Ltd.’s current written disclosure statement
discussing our advisory services and fees is available for review upon request.

39. Questions