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Portfolio Comparison Report Prepared For IFG ADVISOR By Matthew Sample October 21, 2013

MRP IFG UPDATED: Top Holdings

AMERICAN FUNDS HYPO: Top Holdings

Scenario Impact Summary MRP IFG UPDATED Return:

AMERICAN FUNDS HYPO Return:

BRICS Outlook: Return Of Growth What if global economic growth resumes, particularly in emerging markets and the BRICS economies?

19.8%

10.7%

Fed Stress Test: Adverse Scenario What if the economy falls into a recession with a severity like that modeled by the Federal Reserve's official supervisory adverse scenario?

-10.9%

-17.6%

Recovery Rally Continues What if the market continues to rally based on economic recovery expectations?

19.8%

10.0%

Syria + Middle East: Crisis Spreads Beyond Syria What if the civil war in Syria triggers sectarian conflict in other Middle Eastern countries like Saudi Arabia or Iraq, or even worse, in Iran?

-5.9%

-7.5%

Euro Zone: Collapse + Currency Run What if the deep financial woes in Cyprus begin domino effect across the PIIGS countries (Portugal, Ireland, Italy, Greece, Spain), leading to multiple defaults and a run on the Euro currency?

-8.5%

-17.3%

Euro Zone: Debt Crisis Averted

12.4%

6.0%

Scenario:

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario:

MRP IFG UPDATED Return:

AMERICAN FUNDS HYPO Return:

-11.5%

-32.5%

6.8%

3.0%

-5.5%

-2.1%

What if the efforts of the IMF + EU + ECB + Russia prevents defaults in the PIIGS, ultimately averting contagion in Europe? Even a managed default in Greece, Cyprus or other PIIGS would fall under this scenario, as the Euro zone would remain intact. Look for authoritative leadership and clear declarations of policy, without ambiguity and uncertainty. Past Crashes: Financial Crisis: Sep 2008 - Mar 2009 This scenario covers the most extreme portion of the global financial crisis, from the collapse of Lehman Brothers in September 2008 until the market lows of March 2009. Rising Interest Rates: Driven By Growth What if interest rates rise back to historical levels or above, with 10-year treasury rates at 5%, as a result of renewed growth in the US economy? End of QE: Bond Exodus What if the Fed decides to taper its QE programs in 2013, resulting in a 1994-style bond exodus and crash?

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario: BRICS Outlook: Return Of Growth Description: What if global economic growth resumes, particularly in emerging markets and the BRICS economies? Outcome: The BRICS (Brazil, Russia, India, China, and South Africa) are responsible for half of all global economic growth. If they are able to resume a pre-financial crisis growth pace, then resource producers, shipping, and global tech stand to benefit. Timeframe: 1 Year Scenario Expectation: 0% priced into market

Macro Impact 10Y UST Yield

Current Projected

Change

2.6%

3.86%

+1.26%

CPI

1.52%

2.05%

+0.53%

Euro

$1.37

$1.44

+4.87%

Gold

$1323 /oz

$1105.83

-16.41%

$100.7 /barrel

$117.85

+17.03%

Retail Sales

4.67%

6.73%

+2.06%

S&P 500

1744.5

2,068.35

+18.56%

Unemployment

7.3%

6.35%

-0.95%

US GDP Growth

2.5%

3.7%

+1.2%

169.66

+6.58%

72

-9.57%

Oil

US Home Prices USD Index

159.18 (2000 = 100) 79.62 (Index Value)

Portfolio Impact: MRP IFG UPDATED

BRICS Outlook: Return Of Growth Scenario Impact: 19.8%

Portfolio Impact: AMERICAN FUNDS HYPO

BRICS Outlook: Return Of Growth Scenario Impact: 10.7%

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario: Fed Stress Test: Adverse Scenario Description: What if the economy falls into a recession with a severity like that modeled by the Federal Reserve's official supervisory adverse scenario? Outcome: The Federal Reserve's supervisory adverse scenario calls for a moderate recession, with GDP falling to -2% growth and stock markets dropping by 25% at the recession's low point. Timeframe: 1 Year Scenario Expectation: 5% priced into market

Macro Impact 10Y UST Yield

Current Projected

Change

2.6%

4.52%

+1.92%

CPI

1.52%

3.34%

+1.82%

Euro

$1.37

$1.27

-7.31%

Gold

$1323 /oz

$1035

-21.77%

$100.7 /barrel

$73.7

-26.81%

Retail Sales

4.67%

-2.17%

-6.84%

S&P 500

1744.5

1,319.5

-24.36%

Unemployment

7.3%

9.6%

+2.3%

US GDP Growth

2.5%

-2.54%

-5.04%

145.18

-8.8%

89.22

+12.06%

Oil

US Home Prices USD Index

159.18 (2000 = 100) 79.62 (Index Value)

Portfolio Impact: MRP IFG UPDATED

Fed Stress Test: Adverse Scenario Scenario Impact: -10.9%

Portfolio Impact: AMERICAN FUNDS HYPO

Fed Stress Test: Adverse Scenario Scenario Impact: -17.6%

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario: Recovery Rally Continues Description: What if the market continues to rally based on economic recovery expectations? Outcome: If the market continues to rally, high beta stocks may be a good choice as they have a tendency to outperform in rallies. Certain defensive sectors may underperform as risk appetite increases. Timeframe: 1 Year Scenario Expectation: 0% priced into market

Macro Impact 10Y UST Yield

Current Projected

Change

2.6%

4.64%

+2.04%

CPI

1.52%

2.08%

+0.56%

Euro

$1.37

$1.47

+7.31%

Gold

$1323 /oz

$1083

-18.14%

$100.7 /barrel

$118.7

+17.87%

Retail Sales

4.67%

6.47%

+1.8%

S&P 500

1744.5

2,084.5

+19.49%

Unemployment

7.3%

6.6%

-0.7%

US GDP Growth

2.5%

3.9%

+1.4%

169.18

+6.28%

71.62

-10.05%

Oil

US Home Prices USD Index

159.18 (2000 = 100) 79.62 (Index Value)

Portfolio Impact: MRP IFG UPDATED

Recovery Rally Continues Scenario Impact: 19.8%

Portfolio Impact: AMERICAN FUNDS HYPO

Recovery Rally Continues Scenario Impact: 10%

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario: Syria + Middle East: Crisis Spreads Beyond Syria Description: What if the civil war in Syria triggers sectarian conflict in other Middle Eastern countries like Saudi Arabia or Iraq, or even worse, in Iran? Outcome: While it seems unlikely now, the possibility of civil war in Syria seemed remote until events began unfolding. If Iran, Iraq, or Saudi Arabia were to suffer significant shutdown in oil production, this would immediately have a dramatic effect on oil prices. While the US Strategic Petroleum Reserve could initially prevent US shortages, high prices could still throw the world's economy back into recession. Timeframe: 1 Year Scenario Expectation: 0% priced into market

Macro Impact 10Y UST Yield

Current Projected

Change

2.6%

2.12%

-0.48%

CPI

1.52%

4.6%

+3.08%

Euro

$1.37

$1.19

-13.15%

Gold

$1323 /oz

$1623

+22.68%

$100.7 /barrel

$154.7

+53.62%

Retail Sales

4.67%

1.25%

-3.42%

S&P 500

1744.5

1,489.5

-14.62%

Unemployment

7.3%

8.3%

+1%

US GDP Growth

2.5%

1.1%

-1.4%

148.18

-6.91%

96.42

+21.1%

Oil

US Home Prices USD Index

159.18 (2000 = 100) 79.62 (Index Value)

Portfolio Impact: MRP IFG UPDATED

Syria + Middle East: Crisis Spreads Beyond Syria Scenario Impact: -5.9%

Portfolio Impact: AMERICAN FUNDS HYPO

Syria + Middle East: Crisis Spreads Beyond Syria Scenario Impact: -7.5%

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario: Euro Zone: Collapse + Currency Run Description: What if the deep financial woes in Cyprus begin domino effect across the PIIGS countries (Portugal, Ireland, Italy, Greece, Spain), leading to multiple defaults and a run on the Euro currency? Outcome: A Cyprus meltdown could trigger a run on banks in other Euro nations, leading to multiple sovereign debt defaults. Even with a last minute deal, the risk of deposit flights from fragile European banks is now heightened. A European contagion would likely mirror the 2008 US financial crisis with the collapse of Lehman, AIG, and other financials. European banks would suffer that same fate. Many of the vulnerable European countries would likely drop the Euro in order to devalue their currencies, and the Euro Zone might either disband or end up as a much smaller group of nations. Timeframe: Now Scenario Expectation: 0% priced into market

Macro Impact 10Y UST Yield

Current Projected

Change

2.6%

2.15%

-0.45%

CPI

1.52%

0.21%

-1.31%

Euro

$1.37

$0.9

-34.24%

Gold

$1323 /oz

$918.13

-30.6%

$100.7 /barrel

$65.27

-35.18%

Retail Sales

4.67%

0.11%

-4.56%

S&P 500

1744.5

1,298.39

-25.57%

Unemployment

7.3%

7.3%

+0%

US GDP Growth

2.5%

1.19%

-1.31%

146.06

-8.24%

100.61

+26.37%

Oil

US Home Prices USD Index

159.18 (2000 = 100) 79.62 (Index Value)

Portfolio Impact: MRP IFG UPDATED

Euro Zone: Collapse + Currency Run Scenario Impact: -8.5%

Portfolio Impact: AMERICAN FUNDS HYPO

Euro Zone: Collapse + Currency Run Scenario Impact: -17.3%

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario: Euro Zone: Debt Crisis Averted Description: What if the efforts of the IMF + EU + ECB + Russia prevents defaults in the PIIGS, ultimately averting contagion in Europe? Even a managed default in Greece, Cyprus or other PIIGS would fall under this scenario, as the Euro zone would remain intact. Look for authoritative leadership and clear declarations of policy, without ambiguity and uncertainty. Outcome: In this scenario, the Euro will regain some of its value relative to the dollar, and commodities will gain as the dollar drops in relative terms. Borrowing rates in European Nations would go down, and gold should come in as riskier assets are sought. If the Russians are involved in the rescue, then there will be frictions between them and the ECB. Timeframe: Now Scenario Expectation: 6% priced into market

Macro Impact 10Y UST Yield

Current Projected

Change

2.6%

2.6%

+0%

CPI

1.52%

2.36%

+0.84%

Euro

$1.37

$1.54

+12.42%

Gold

$1323 /oz

$1347

+1.81%

$100.7 /barrel

$111.5

+10.72%

Retail Sales

4.67%

5.75%

+1.08%

S&P 500

1744.5

1,982.5

+13.64%

Unemployment

7.3%

7.3%

+0%

US GDP Growth

2.5%

3.9%

+1.4%

162.18

+1.88%

74.02

-7.03%

Oil

US Home Prices USD Index

159.18 (2000 = 100) 79.62 (Index Value)

Portfolio Impact: MRP IFG UPDATED

Euro Zone: Debt Crisis Averted Scenario Impact: 12.4%

Portfolio Impact: AMERICAN FUNDS HYPO

Euro Zone: Debt Crisis Averted Scenario Impact: 6%

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario: Past Crashes: Financial Crisis: Sep 2008 - Mar 2009

Macro Impact

Change

2.6%

1.69%

-0.91%

CPI

1.52%

-2.14%

-3.66%

Euro

$1.37

$1.13

-17.54%

Outcome: Arguably the worst financial crisis since the Great Depression, the 2008 financial crisis led the world into a global recession. The financial crisis unfolded in a number of stages, beginning with the pop of the housing bubble in late 2007. Although the crisis officially ended in mid-2009, the crippling after effects are still being felt today.

Gold

$1323 /oz

$987

-25.4%

$100.7 /barrel

$44.9

-55.41%

Retail Sales

4.67%

-4.33%

-9%

S&P 500

1744.5

894.5

-48.72%

Timeframe: September 2008 through March 2009

Unemployment

7.3%

8.8%

+1.5%

US GDP Growth

2.5%

-2.68%

-5.18%

142.18

-10.68%

88.42

+11.05%

Description: This scenario covers the most extreme portion of the global financial crisis, from the collapse of Lehman Brothers in September 2008 until the market lows of March 2009.

Scenario Expectation: 0% priced into market

10Y UST Yield

Current Projected

Oil

US Home Prices USD Index

159.18 (2000 = 100) 79.62 (Index Value)

Portfolio Impact: MRP IFG UPDATED

Past Crashes: Financial Crisis: Sep 2008 - Mar 2009 Scenario Impact: -11.5%

Portfolio Impact: AMERICAN FUNDS HYPO

Past Crashes: Financial Crisis: Sep 2008 - Mar 2009 Scenario Impact: -32.5%

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario: Rising Interest Rates: Driven By Growth Description: What if interest rates rise back to historical levels or above, with 10-year treasury rates at 5%, as a result of renewed growth in the US economy? Outcome: Interest rates appear to be rising worldwide after approaching zero during the financial crisis and recession. With the return of economic growth and with excessive debt loads being carried by many governments, interest rates look set to rise. Rising rates could compress margins at financial institutions and raise borrowing costs for leveraged businesses like REITs, finance firms, and others. Timeframe: 1 Year Scenario Expectation: 0% priced into market

Macro Impact 10Y UST Yield

Current Projected

Change

2.6%

4.88%

+2.28%

CPI

1.52%

1.96%

+0.44%

Euro

$1.37

$1.29

-5.78%

Gold

$1323 /oz

$1095

-17.23%

$100.7 /barrel

$103.55

+2.83%

Retail Sales

4.67%

6.66%

+1.99%

S&P 500

1744.5

1,892.54

+8.49%

Unemployment

7.3%

7.06%

-0.24%

US GDP Growth

2.5%

3.05%

+0.55%

165.51

+3.98%

84.05

+5.57%

Oil

US Home Prices USD Index

159.18 (2000 = 100) 79.62 (Index Value)

Portfolio Impact: MRP IFG UPDATED

Rising Interest Rates: Driven By Growth Scenario Impact: 6.8%

Portfolio Impact: AMERICAN FUNDS HYPO

Rising Interest Rates: Driven By Growth Scenario Impact: 3%

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Scenario: End of QE: Bond Exodus Description: What if the Fed decides to taper its QE programs in 2013, resulting in a 1994-style bond exodus and crash? Outcome: The Fed may decide to begin tapering its QE programs this year if it believes that inflation may become a concern, or that additional asset purchases are unwarranted. If bond market participants try to front-run the Fed and head for the exits, this could precipitate a crash in bonds as yields spike upward. Timeframe: 1 Year Scenario Expectation: 21% priced into market

Macro Impact 10Y UST Yield

Current Projected

Change

2.6%

4.32%

+1.72%

CPI

1.52%

2.54%

+1.02%

Euro

$1.37

$1.37

+0%

Gold

$1323 /oz

$1263.65

-4.49%

$100.7 /barrel

$97.73

-2.95%

Retail Sales

4.67%

4.8%

+0.13%

S&P 500

1744.5

1,692.46

-2.98%

Unemployment

7.3%

7.09%

-0.21%

US GDP Growth

2.5%

2.93%

+0.43%

161.77

+1.63%

82.07

+3.08%

Oil

US Home Prices USD Index

159.18 (2000 = 100) 79.62 (Index Value)

Portfolio Impact: MRP IFG UPDATED

End of QE: Bond Exodus Scenario Impact: -5.5%

Portfolio Impact: AMERICAN FUNDS HYPO

End of QE: Bond Exodus Scenario Impact: -2.1%

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.


Disclosures: Kingsroad Financial Insurance Services, Inc. (KFIS) is an Registered Investment Advisor and Program Manager (PM) of Measured Risk Portfolios. Information regarding this investment program including investment management fees, as well as important information regarding KFIS, its services, compensation, and conflicts of interest is contained in its Form ADV, Part II or substitute disclosure document, available from KFIS upon request. Some Investment Advisor Representatives of KFIS are also Registered Representatives of Independent Financial Group, LLC, (IFG, LLC) member FINRA/SIPC. KFIS and IFG, LLC are not affiliated. Additional disclosures located online at http://www.measuredriskportfolios.com/disclosure.php

HiddenLevers, providers of the software used to generate this report, makes the following disclosures:

This report describes one or more potential scenarios that may or may not occur. HiddenLevers does not guarantee that any particular scenario will occur as modeled in this report. HiddenLevers uses historical analysis in the creation of this report, and past performance is not a guarantee of future results. The information contained in this report is not to be construed as advice and should not be confused as any sort of advice. GxWorks LLC (dba HiddenLevers), its employees, officers or affiliates, in some instances, may have long or short positions or holdings in the securities or other related investments of companies mentioned herein. Investors should consider this report as only a single factor in making their investment decision.

HiddenLevers' mission is to educate and provide useful macro risk analytical tools to help provide data to assist with the investment decision process. We rely on financial data, including stock prices, provided by third parties. The data is believed to be accurate, but HiddenLevers does not guarantee or warranty this data. This report is intended only as an informational tool for you and your investment advisor, and should not in any way be construed as investment advice by HiddenLevers. If you make investment decisions based on information you receive in connection with this report, you do so at your own risk and neither HiddenLevers nor its employees will be liable for any losses that you may incur. Users of this should conduct their own independent research and due diligence and consult with their investment advisor before making any investment decisions or recommendations.

This report has been reviewed by FINRA - the Financial Industry Regulatory Authority.

Measured Risk Portfolios | 5405 Morehouse Drive, Suite 230, San Diego, CA 92121 | 858-935-1125 IMPORTANT: The projections or other information generated by HiddenLevers regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Assumptions on rates of return and standard deviation used in HiddenLevers analysis are based on historical return data for each security and the benchmark index for its asset class. Past performance is no guarantee of future results. Results may vary with each use and over time. You cannot invest directly in a benchmark or index. Index results do not reflect fees, expenses, or sales charges incurred when making investments.

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