1. Through the 19th week of 2017, the S&P 500 was up 7.6% year-to-date, just below its average annual return of 10.2% over 50 years. The S&P 500 tracks the stocks of 500 large companies. 2. In the two years since Federal Reserve Chair Janet Yellen warned about high stock valuations, the S&P 500 gained 20.4% and set 36 new highs, showing the Fed's monetary policy did not negatively impact the market. 3. An amendment to a healthcare bill allows states to apply for waivers exempting some plans from requirements on age-based premiums, essential benefits, and premiums based on

1. BY THE NUMBER$ Week of May 22, 2017
Brought to you by:
Andrew Kinney -- RMA®
GreaterSt. Louis Area
618-407-0592
andy.kinney@jwcemail.com
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1. CLOSE TO THE AVERAGE RETURN - Through the end of last w eek(Friday 5/12/17), the 19th trading week of 2017,
the S&P 500 is up +7.6% YTD (total return), just 2.6 percentage points below its 50-year average annual return of
+10.2%. The S&P 500 consists of 500 stocks chosen for market size, liquidity and industry group representation. It is a
market value w eighted index w ith each stock's w eight in the index proportionate to its market value (source: BTN Research).
2. STICK TO M ONETARY POLICY - Federal Reserve Chair Janet Yellen made headlines 2 years ago (on 5/06/15) w hen
she said that “equity market valuations at this point generally are quite high” and that “there are potential dangers
there.” For the 2 years from 5/06/15 to 5/06/17, the S&P 500 gained +20.4% (total return) and achieved 36 all-time record
closing highs (source: BTN Research).
3. THREE WAIVERS – An amendment to HR 1628 by House of Representative member Tom McArthur (R-NJ) allow s for 3
different waivers that states can apply for that w ould permit them to legally opt out of certain ACA requirements for plans
that are sold on the individual health insurance marketplace. The 3 waivers deal w ith: 1) age-based premiums; 2) the 10
“Essential Benefits”; and 3) premiums based on health status (source: AHCA).
4. SM ALL PERCENTAGE - Just 7.4% of the US population has purchased their health insurance through the individual
insurance market, i.e., not accessing insurance through an employer or through a government program such as
Medicare or Medicaid (source: CBO).
5. THE YOUNG AND THE RICH - Americans under the age of 35 make up 25% of the US population but hold just 5% of
US wealth. Americans between the ages of 55-64 make up 16% of the US population but hold 31% of US wealth (source:
Federal Reserve Bank of St. Louis).
6. A GOAL OF M INE - 69% of American adults who are not current homeowners anticipate that they w ill become a
homeow ner w ithin the next 10 years (source: Gallop Poll).
7. HELP WANTED - Construction companies in the commercial real estate industry employ 4.2 million w orkers today.
The grow ing number of new construction projects nationw ide has created a labor shortage of 500,000 w orkers in the
construction industry, e.g., electricians (source: Associated Builders and Contractors).
8. NOT ENOUGH SHOPPERS - 14 publicly-traded American retailers have filed for Chapter 11 bankruptcy protection in
2017. A total of 18 retailers filed for bankruptcy protection in 2009 (source: AlixPartners).
9. BRICK AND M ORTAR - Christopher Leinberger of George Washington University’s Center for Real Estate and Urban
Analysis predicts that the next American recession willresult in 30% of shopping malls nationw ide shutting dow n. There
are 47,000 shopping centers in the USA (source: Money Magazine).

2. 10. JUST OK - The “gross domestic product” (GDP) of the United States grew by +0.7% in the first quarter 2017 (i.e.,
quarter-over-quarter change expressed as an annualized result), a performance that is greater than just 15 of the previous
100 quarters dating back to the first quarter 1992 (source: Department of Commerce).
11. LENGTHY - The current economic expansion (in its 95th month) is the 3rd longest US expansion based upon data
that has been tracked since 1854, i.e., for 163 years (source: National Bureau of Economic Research).
12. M INIM UM AGE - House of Representative members must be at least 25 years old w hen they take office. The
youngest House member of the current Congressional session is Elise Stefanik (R-NY) w ho turns 33 on 7/02/17. Senators
must be at least 30 years old w hen they take office. The youngest Senator of the current Congressional session is Tom
Cotton (R-AR) w ho turned 40 on 5/13/17 (source: Congressional Research Service).
13. SM ALLER GOVERNM ENT - French president Emmanuel Macron (he took office on Sunday 5/14/17) has proposed
eliminating 120,000 public sector jobs w ithin the French government over the next 5 years. Macron w on 66% of the
French vote in the 5/07/17 Sunday election (source: Wall Street Journal).
14. HIGH SCHOOL DIPLOM A - Only 36% of American jobs typically require some type of postsecondary education (i.e.,
college) for entry (source: Department of Labor).
15. JUST A LITTLE TIRED TODAY - From 1982-1998, Cal Ripken played in 2,632 consecutive ballgames for the
Baltimore Orioles, a MLB record. Within the streak, Ripken played in 8,264 consecutive innings. There are 750 players on
major league rosters at any time during the season and just 3 players (Alcides Escobar, Jonathan Schoop and George
Springer) played in all 162 games during the 2016 season (source: MLB).
The information contained in this presentation does notpurportto be a complete description and is intended for
informational purposes only.Any opinions are those ofthe content creator and not necessarilythose of Andrew
Kinney, JWC or JWCA. This information is notintended as a solicitation or an offer to buy or sell any security or
investmentproduct. Information is solelyintended for recipients in jurisdictions where Andrew Kinneyis licensed to
engage the investing public. Investments and strategies mentioned maynot be suitable for all investors.Andrew
Kinney and JWC/JWCA do not provide tax or legal advice. Always discuss anytax or legal matters with an
appropriate professional. The S&P 500 and other such indices are unmanaged,do notincur fees or expense,cannot
be invested into directly and individual investor’s results will vary. Pastperformance is no guarantee of future results.
As with all investments,income generating programs,etc.various risks mayexist and JWC/JWCA recommends you
consultwith your financial advisor prior to making any financial decisions.
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