Clear Rock Market ChartBook

1. MARKET CHARTBOOK

3. 3 ©2021 CLEAR ROCK ADVISORS, LLC. ALL RIGHTS RESERVED. The Mixed News.. Incomes & Spending “Volatile swings in income continue … personal income -13.1% in April vs. +20.9% in prior month; spending in line with expectations at +0.5% vs. +4.7% in prior month” – Liz Ann Sonders Source: Liz Ann Sonders

5. 5 ©2021 CLEAR ROCK ADVISORS, LLC. ALL RIGHTS RESERVED. The Bad News.. Inflation “The measure of inflation most watched by the Fed surges to the highest since 1992. U.S. personal consumption expenditure core price index” – Lisa Abramowicz Source: Lisa Abramowicz

6. 6 ©2021 CLEAR ROCK ADVISORS, LLC. ALL RIGHTS RESERVED. “I note a growing consensus on FinTwit that sticky inflation is a consensus view. I doubt that. If it was, then the US 10-yr yield wouldn't be 1.6%. Historically, such a low yield has been in line with 1.5-1.7% core inflation, ie the bond market believes the transitory story” – Mikael Sarwe The State Of The Market.. Bond Market Says Otherwise Source: Mikael Sarwe

15. 15 ©2021 CLEAR ROCK ADVISORS, LLC. ALL RIGHTS RESERVED. “THE OUTLIER: Nice look at how whacked $AMC's market value is based on its revenue and other movie chains using ann observations over past 40yrs. Basically, it should be $2b but rn its $23b lol via @ProfessorLennyK”– Eric Balchunas The State Of The Market.. AMC, Again? Source: Kostovetsky, Leonard. “Valuing Tulips: Guesstimating the Future of GameStop and AMC.” The Blindfolded Chimpanzee, 1 June 2021, theblindfoldedchimp.com/valuing-tulips-guesstimating-the-future-of- gamestop-and-amc/.

16. 16 ©2021 CLEAR ROCK ADVISORS, LLC. ALL RIGHTS RESERVED. Story Of The Week.. ‘Immaterial’ Sculpture … So nothing just sold for $18,000 Source: Papadopoulos, Loukia. “World's First 'Immaterial' Sculpture Sells for 15,000 Euros.” Interesting Engineering, Interesting Engineering, 29 May 2021, interestingengineering.com/worlds-first-immaterial-sculpture- sells-for-15000-euros.

17. 17 ©2021 CLEAR ROCK ADVISORS, LLC. ALL RIGHTS RESERVED. Charles F. Hall, Jr. Chairman Phone: 210-464-1030 Email: chuck@clearrockadvisors.com Ty Sanders Chief Executive Officer Phone: 512-576-1589 Email: ty@clearrockadvisors.com Royce W. Medlin, CFA, CAIA Chief Investment Officer Phone: 214-923-5756 Email: royce@clearrockadvisors.com Royce G. Itschner, CPA, CFP® Managing Director Phone: 830-315-2555 Email: rgi@clearrockadvisors.com Corey Long, CFP® Managing Director Phone: 832-693-8254 Email: corey@clearrockadvisors.com Aaron Lang Portfolio Analyst Phone: 469-623-1220 Email: aaron@clearrockadvisors.com Tamra Nix Operations Manager Phone: 830-315-2555 Email: tamra@clearrockadvisors.com Our Locations: Austin Office 9020 N. Capital of Texas Hwy Building I, Suite 345 Austin, TX 78759 Phone: 512-735-0222 Dallas Office 4809 Cole Avenue, Suite 345 Dallas, Texas 75205 Phone: 214-923-5756 Kerrville Office 707 Hill Country Dr # 114 Kerrville, Texas 78028 Phone: 830-315-2555

18. 18 ©2021 CLEAR ROCK ADVISORS, LLC. ALL RIGHTS RESERVED. Clear Rock Advisors, LLC is registered with the SEC as a registered investment advisor with offices in Texas. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by Clear Rock Advisors, LLC) or any investment-related or financial planning consulting services will be profitable, equal any corresponding indicated historical performance level(s), or prove successful. It remains the client’s responsibility to advise Clear Rock Advisors, LLC, in writing, if there are any changes in the client’s personal/financial situation or investment objectives for the purpose of reviewing, evaluating or revising Clear Rock Advisors, LLC’s previous recommendations and/or services, or if the client would like to impose, add to, or modify any reasonable restrictions to Clear Rock Advisors, LLC’s services. A copy of Clear Rock Advisors, LLC’s current written disclosure statement discussing its advisory services and fees are available upon request.

Clear Rock Market ChartBook

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Clear Rock Market ChartBook

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