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2015 Ibbotson Capital Market Assumptions

Submitted by Your Personal CFO - Bourbon Financial Management on October 23rd, 2015

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Emerging Market Continues to Trade at an Attractive Discount

Submitted by Your Personal CFO - Bourbon Financial Management on October 23rd, 2015

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Real Yields: Long-Term Mean Reverting

Submitted by Your Personal CFO - Bourbon Financial Management on October 23rd, 2015

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Asset Class Correlations with S&P 500

Submitted by Your Personal CFO - Bourbon Financial Management on October 23rd, 2015

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Ample Active Opportunities in International Space

Submitted by Your Personal CFO - Bourbon Financial Management on October 23rd, 2015

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Relative Valuation U.S. Small vs U.S. Market (1987-2014)

Submitted by Your Personal CFO - Bourbon Financial Management on October 23rd, 2015

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Performance Spread in Some Fund Categories is Tighter Than in Others

Submitted by Your Personal CFO - Bourbon Financial Management on October 23rd, 2015

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Evolution of the Top Quartile Funds from 2009 to 2014

Submitted by Your Personal CFO - Bourbon Financial Management on October 23rd, 2015

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China's Gold Mystery Ends

Submitted by Your Personal CFO - Bourbon Financial Management on October 14th, 2015

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U.S. Equity Markets: Dividends and Repurchases: 1871 - 2014

Submitted by Your Personal CFO - Bourbon Financial Management on October 14th, 2015

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