Your portfolio down 2.4% over the last 30 days as markets pull back after 5 week rally

	Weekly Market Recap This week saw continued good US jobs and retail sales data. Global markets gave up some ground after a five week rally. Pullbacks after strong rallies like we saw this October are quite normal. The Organization For Economic Co-operation and Development (OECD) released its economic update highlighting a decline in global trade in 2015, but noting its expectation that the global economy will progressively strengthen in 2016 and 2017. It's worth remembering that the markets are relatively unpredictable in the short term. As such we believe day to day market performance is extremely hard to predict. However, for the longer term, such as over years or decades, our historical analysis suggests that markets are likely to deliver a positive performance. On any given day, the chance of the US market rising or falling is close to 50/50, essentially a coin toss. But over a decade, the US market has risen 93% of the time. This data is based on our analysis of the S&P 500's daily performance from 1950 to 2014. We believe one of the reasons for this is that a very small bias to positive performance on a daily basis adds up over time due to the effects of compounding. Using history as a precedent, the chance of the market rising on any given day is 53%. However, even that 3% advantage over a 50/50 outcome has added up to impressive historical performance for stocks. Though our analysis shows there is only a slight chance of the markets coming out ahead each day, statistically speaking, when you apply this probability across hundreds of days, the skew to positive outcomes becomes much greater. On the other hand the small bias to positive performance over the shorter term and can easily be overwhelmed by the volatility of the markets. This is one reason why we believe a portfolio weighted to stocks is prudent for investors with long term goals such as retirement. Notes Retail data: http://www.census.gov/retail/marts/www/marts_current.pdf Jobs report: http://www.dol.gov/ui/data.pdf OCED report: http://www.oecd.org/economy/economicoutlook.htm Market returns over time: http://blog.futureadvisor.com/the-benefit-of-being-a-long-term-investor/ Disclaimer: The views expressed are for informational purposes only and are not intended to serve as a forecast, a guarantee of future results, investment recommendations or an offer to buy or sell securities by FutureAdvisor. All expressions of opinion are subject to change without notice in reaction to shifting market, economic, or political conditions. The investment strategies mentioned are not personalized to your financial circumstances or investment objectives, and differences in account size, the timing of transactions and market conditions prevailing at the time of investment may lead to different results. Clients may lose money. Past performance is not indicative of future results. Investments in securities involve the risk of loss. Any tax strategies discussed should not be interpreted as tax advice and do not represent in any manner that the tax consequences detailed will be obtained. Clients should consult with their personal tax advisors regarding the tax consequences of investing. Your Portfolio Update Portfolio Total $9,176.71 30-Day Returns -2.4% Your Portfolio 0.0% Target Portfolio 22-Year Forecast Annualized +7.8% Your Portfolio +7.5% Target Portfolio Over the past month your portfolio was down 2.4%, and we have no recommendations at this time to improve it. Congratulations on maintaining one of the best portfolios among all our clients. We will, as always, continue monitoring your account and alerting you if there are actions to take (periodic rebalancing is required, etc). Ways To Improve Your Portfolio 0 Accounts with Actions Your portfolio has no recommended actions right now. We'll watch over your investments and alert you with an email when there are actions for you to complete. Sign in to see detailed steps Sign in to see your full dashboard If you wish to change your email settings, visit your Settings.
	FutureAdvisor | 580 Market St., Suite 500, San Francisco, CA 94104 Drop us a note anytime: advisor@futureadvisor.com

Your portfolio up 0.7% over the last 30 days with some tips to get on track with your taxes

	Weekly Market Recap We're already in November, so now is good point to check-in on where you are with your overall tax planning for 2015. Tax efficiency can significantly help investment performance because investing through tax efficient accounts can help your money grow faster. Consider the following 3 topics: 401(k) contribution matching - Not only is a 401(k) a tax efficient way to save for retirement, but 401(k) matching can be an attractive way to boost your retirement savings. If your employer offers this, then it is something you should consider taking advantage of before the end of 2015. Consider increasing your 401(k) contributions now to ensure you take full advantage of any matching benefit before 2015 ends. Remember that any 401(k) contribution change may take a few weeks to impact your payroll. There are only a few pay periods left before the end of December, so, if you can afford it, this is one where action may be needed to take advantage of full employee matching for 2015. IRA contributions - you have more time on your IRA contributions than your 401(k) since, if eligible, you can still contribute to a 2015 IRA up until the general tax filing deadline of April 15, 2016. Nonetheless, if your 401(k) is on track, now may be a good time to start or add to your IRA subject to income limits (see link below). College savings plans - Contributing to college savings before the end of 2015 may improve your tax and gifting situation depending on which type of tax vehicle you use. FutureAdvisor now offers a free service that can help you get started saving for college with confidence. Notes IRA Income Limits for 2015: https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-Limits Disclaimer The information contained herein is for informational purposes only. FutureAdvisor does not provide legal or tax advice. The information expressed is educational in nature, is not individualized, and should not be considered legal or tax advice, a forecast or guarantee of future results, investment recommendations, or an offer to buy or sell securities by FutureAdvisor. The tax efficiency strategies discussed should not be interpreted as tax advice and it does not represent in any manner that the tax consequences detailed will be obtained. Tax laws and regulations are complex and subject to change, and the contents herein may not be updated on a real-time basis to reflect changes to the tax laws. Changes in such laws and regulations may have a material impact on pre- and/or after-tax investment results. Laws of a particular state or laws which may be applicable to a particular situation may have an impact on the applicability, accuracy, or completeness of the information contained herein. Clients should consult with their personal tax advisors regarding their specific situations and the tax consequences of investing in particular types of investments or through different types of accounts. FutureAdvisor makes no warranties with regard to the information herein or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Your Portfolio Update Portfolio Total $9,423.06 30-Day Returns +0.7% Your Portfolio +0.5% Target Portfolio 22-Year Forecast Annualized +7.8% Your Portfolio +7.5% Target Portfolio Over the past month your portfolio was up 0.7%, and we have no recommendations at this time to improve it. Congratulations on maintaining one of the best portfolios among all our clients. We will, as always, continue monitoring your account and alerting you if there are actions to take (periodic rebalancing is required, etc). Ways To Improve Your Portfolio 0 Accounts with Actions Your portfolio has no recommended actions right now. We'll watch over your investments and alert you with an email when there are actions for you to complete. Sign in to see detailed steps Sign in to see your full dashboard If you wish to change your email settings, visit your Settings.
	FutureAdvisor | 580 Market St., Suite 500, San Francisco, CA 94104 Drop us a note anytime: advisor@futureadvisor.com

Your portfolio up 5.5% over the last 30 days as US GDP grows 1.5%

	Weekly Market Recap This week the preliminary estimate for third quarter US GDP growth came in at 1.5%. This was a slower rate of growth than the prior quarter, as businesses drew down inventories and exports were lower. However, US consumers are continuing to spend, and we saw more healthy employment data this week. Internationally, the UK's GDP growth for Q3 came in lower than expected, but Japanese industrial production improved for September, as did economic sentiment in the European Union for October. See the BEA link below for more information on this data. A reminder this week on the dangers of chasing hot investments. It's tempting to look back and think that you should invest in a particular fund or sector, which has performed well in recent months. But, typically, top sector performers rotate over time, and what was hot last quarter or last year often may perform poorly in the future. In fact, Vanguard conducted a historical study (link below) that showed that chasing past top performing funds is likely to hurt your returns by 1.5% to 4.0% a year relative to opting for a more stable investment allocation. This is one reason we believe that investment allocations should be relatively stable with a rebalanced portfolio. We believe chasing short-term returns can be counterproductive. Not only can this drive up trading and tax costs, we believe it can also hurt portfolio performance and increase risk. Notes http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm https://pressroom.vanguard.com/content/nonindexed/Quantifying_the_impact_of_chasing_fund_performance_July_2014.pdf Disclaimer The views expressed are for informational purposes only and are not intended to serve as a forecast, a guarantee of future results, investment recommendations or an offer to buy or sell securities by FutureAdvisor. All expressions of opinion are subject to change without notice in reaction to shifting market, economic, or political conditions. The investment strategies mentioned are not personalized to your financial circumstances or investment objectives, and differences in account size, the timing of transactions and market conditions prevailing at the time of investment may lead to different results. Clients may lose money. Past performance is not indicative of future results. Investments in securities involve the risk of loss. Any tax strategies discussed should not be interpreted as tax advice and do not represent in any manner that the tax consequences detailed will be obtained. Clients should consult with their personal tax advisors regarding the tax consequences of investing. Your Portfolio Update Portfolio Total $9,429.10 30-Day Returns +5.5% Your Portfolio +5.6% Target Portfolio 22-Year Forecast Annualized +7.8% Your Portfolio +7.5% Target Portfolio Over the past month your portfolio was up 5.5%, and we have no recommendations at this time to improve it. Congratulations on maintaining one of the best portfolios among all our clients. We will, as always, continue monitoring your account and alerting you if there are actions to take (periodic rebalancing is required, etc). Ways To Improve Your Portfolio 0 Accounts with Actions Your portfolio has no recommended actions right now. We'll watch over your investments and alert you with an email when there are actions for you to complete. Sign in to see detailed steps Sign in to see your full dashboard If you wish to change your email settings, visit your Settings.
	FutureAdvisor | 580 Market St., Suite 500, San Francisco, CA 94104 Drop us a note anytime: advisor@futureadvisor.com

Your portfolio up 6.9% over the last 30 days as Europe hints at further stimulus

	Weekly Market Recap This week saw continued good employment news in the US, accompanied by better housing data than many expected. In Canada, the Liberal Party won an election victory, bringing to an end a decade in power for the Conservatives. In China, economic growth for the most recent quarter came in at 6.9%. This is the slowest rate of Chinese growth in 6 years and China, once again, cut interest rates this Friday. Nonetheless, this rate of growth remains high by global standards and was a relief to those who feared a sharply weakening Chinese economy. In Europe, the European Central Bank left their accommodative policies unchanged, but hinted at more stimulus in December, which was viewed positively by markets. At the time of writing, global stock markets, as measured by the MSCI AWCI index, have risen over 9% [SM1] from the lows we experienced in late September. This serves as a reminder of how quickly investment sentiment can swing between the emotional extremes of fear and optimism. More importantly, we think this shows the importance of adhering to a consistent investment strategy. Those who sold stocks based on fear over the summer have missed a rally, and may still be on the sidelines. Those who have maintained a long-term strategy of remaining in the stock market, a strategy we generally advocate at FutureAdvisor, generally have seen gains and avoided the costs associated with excessive trading, which can erode savings. Of course, a few months is a very short period to analyze any investment approach. However, this shows what we believe has been true over many decades: a diversified portfolio including stocks historically has offered attractive returns for those able to remain invested and look through temporary market gyrations. However, dips in the market are not necessarily a reason to remain completely passive. FutureAdvisor views market volatility as an opportunity for tax loss harvesting and portfolio rebalancing, as appropriate for a client's account. . We believe this strategy has the potential to improve both pre and post-tax returns. Notes: Chinese growth: http://money.cnn.com/2015/10/23/investing/china-interest-rate-cut/ MSCI AWCI Index performance: https://www.msci.com/acwi Disclaimer: The views expressed are for informational purposes only and are not intended to serve as a forecast, a guarantee of future results, investment recommendations or an offer to buy or sell securities by FutureAdvisor. All expressions of opinion are subject to change without notice in reaction to shifting market, economic, or political conditions. The investment strategies mentioned are not personalized to your financial circumstances or investment objectives, and differences in account size, the timing of transactions and market conditions prevailing at the time of investment Your Portfolio Update Portfolio Total $9,516.50 30-Day Returns +6.9% Your Portfolio +6.1% Target Portfolio 22-Year Forecast Annualized +7.8% Your Portfolio +7.5% Target Portfolio Over the past month your portfolio was up 6.9%, and we have no recommendations at this time to improve it. Congratulations on maintaining one of the best portfolios among all our clients. We will, as always, continue monitoring your account and alerting you if there are actions to take (periodic rebalancing is required, etc). Ways To Improve Your Portfolio 0 Accounts with Actions Your portfolio has no recommended actions right now. We'll watch over your investments and alert you with an email when there are actions for you to complete. Sign in to see detailed steps Sign in to see your full dashboard If you wish to change your email settings, visit your Settings.
	FutureAdvisor | 580 Market St., Suite 500, San Francisco, CA 94104 Drop us a note anytime: advisor@futureadvisor.com

Your portfolio up 2.9% over the last 30 days as markets rebound from summer lows

	Weekly Market Recap This week saw international stock markets continue to rise from the pullback we saw over the summer, rewarding investors with a long-term strategy. US jobs figures showed continued strength remaining near historic lows, though inflation remains subdued, both in the US and in many developed countries. Disappointing earnings releases this week from Walmart and Netflix have attracted headlines. Walmart's stock had its worst decline in 25 years; down almost 10% on Wednesday. It's worth noting that since 1980, 320 companies have been removed from the S&P 500 due to business distress according to JP Morgan research (find the full report linked below), and looking at the broader Russell 3000 index, 40% of stocks have seen a decline of 70% or more from their peak value. The J.P. Morgan research suggests that, despite the gloomy statistics surrounding individual stocks, the prospects for tracking an index have historically been superior to the outcome of owning many individual stocks. This research suggests that historically, the returns to individual companies do not follow stock indexes as closely as one might expect. Despite the disappointing data on the performance of lagging stocks, benchmark global stock returns have been attractive in most periods of a decade or more. This is possible because only a small proportion of companies (about 6-8% of companies in most sectors) enjoy extremely high returns, while, on the other hand, a large number of companies lag the index. Statistically speaking, if you are attempting to pick stocks, you're far more likely to pick a loser than a winner. Of course, this distribution of company returns such as this creates yet another problem for stock pickers. It means that missing out on just a small handful of strongly performing stocks can materially hurt your returns. This may be one reason why 7 out 10 US active funds underperform their benchmarks on a 10 year view according to the S&P Dow Jones SPIVA Scorecard for 2014. It's one reason why we believe tracking an index offers a better proposition than trying to beat it, and why a concentrated position in a single stock could be a risk to your portfolio. Footnotes: Information regarding Walmart's earnings report can be found here: http://www.bloomberg.com/news/articles/2015-10-14/wal-mart-tumbles-after-predicting-drop-in-fiscal-2017-earnings The full JP Morgan report can be found here: https://www.chase.com/content/dam/privatebanking/en/mobile/documents/eotm/eotm_2014_09_02_agonyescstasy.pdf The data on the majority of active funds underperforming their benchmarks is here http://www.spindices.com/documents/spiva/spiva-us-year-end-2014.pdf Disclaimer: The views expressed are for informational purposes only and are not intended to serve as a forecast, a guarantee of future results, investment recommendations or an offer to buy or sell securities by FutureAdvisor. All expressions of opinion are subject to change without notice in reaction to shifting market, economic, or political conditions. The investment strategies mentioned are not personalized to your financial circumstances or investment objectives, and differences in account size, the timing of transactions and market conditions prevailing at the time of investment may lead to different results. Clients may lose money. Past performance is not indicative of future results. Investments in securities involve the risk of loss. Any tax strategies discussed should not be interpreted as tax advice and do not represent in any manner that the tax consequences detailed will be obtained. Clients should consult with their personal tax advisors regarding the tax consequences of investing. Your Portfolio Update Portfolio Total $9,440.36 30-Day Returns +2.9% Your Portfolio +2.5% Target Portfolio 22-Year Forecast Annualized +7.8% Your Portfolio +7.5% Target Portfolio Over the past month your portfolio was up 2.9%, and we have no recommendations at this time to improve it. Congratulations on maintaining one of the best portfolios among all our clients. We will, as always, continue monitoring your account and alerting you if there are actions to take (periodic rebalancing is required, etc). Ways To Improve Your Portfolio 0 Accounts with Actions Your portfolio has no recommended actions right now. We'll watch over your investments and alert you with an email when there are actions for you to complete. Sign in to see detailed steps Sign in to see your full dashboard If you wish to change your email settings, visit your Settings.
	FutureAdvisor | 580 Market St., Suite 500, San Francisco, CA 94104 Drop us a note anytime: advisor@futureadvisor.com