Kevin M. Wilson, ChFC, PhDPresident/CEO/CIO

Dheenu Sivalingam, MBAAVP/CCO/Senior Analyst

1314 E. Superior StreetSuite 2Duluth, MN 55805

Office: 218-464-4399 Toll Free: 877-327-5062

Fax: 218-464-4397Email: info@bluewater-cap.com

www.bluewatercapitaladvisors.com

Monthly Market Review

“Superior Ideas for Investing”May 17, 2012

 

Ted A. Pavlovich, WMSVP Wealth Management

11

INTRODUCTION

TED A. PAVLOVICH

2

BLUE WATER’S MOVE TO 1405 MEDICAL ARTS BUILDING, 324 W. SUPERIOR ST., DULUTH MN 55802 – MAY 31, 2012

- CONVENIENT, FREE VALET PARKING - ACCESS THROUGH SKYWAY SYSTEM- IN-HOUSE SMALL GROUP MEETINGS (MMR)- OPEN HOUSE IN JUNE (DATE TBD)

KEVIN M. WILSON3

BRIEF SITUATION REPORT

TED A. PAVLOVICH

4

5

Global Economy Slowing

GS Now Says Drop Is >4% GDP, Causing Recession

6

7

Economic Surprises Are Negative, Moving Stocks Lower

8

TBTF Banks Still Gambling and Losing

THE BEST FOREIGN STOCK VALUES IN THE NEAR TERM

DHEENU V. SIVALINGAM

9

Relative Importance Of Foreign Markets Varies

10

11

The Sizes Of Foreign Markets Are A Factor

12

Market Valuations Must Be Monitored

13

Most Indexes Have Declined For A Year, So Cheaper

BIG IDEAS FROM THE BEST THINKERS: REPORT ON STRATEGIC INVESTMENT CONFERENCE (SPEAKERS INCLUDED MARC FABER, NIALL FERGUSON, MOHAMED EL-ERIAN, DAVID ROSENBERG, JEFFREY GUNDLACH, DAVID MCWILLIAMS, WOODY BROCK, DAVID HARDING, LACY HUNT, AND JOHN MAULDIN)

KEVIN M. WILSON14

L. Hunt: Recession Indicators Flashing Red (1)

15

16

L. Hunt: Keynesian Theory Is Wrong, So Our Policy Is Wrong

17

J. Gundlach: Federal Debt Is Killing Middle Class Outlook

18

J. Gundlach: Interest on Federal DebtNow $454 Billion Per Year!

19

L. Hunt: Debt-Deflation Cycle Will Continue

20

J. Gundlach: Composition Of Debt Important

21

M. El-Erian: Money Printing Instead of Solutions

22

J. Gundlach: Fed Manipulating The Markets

23

W. Brock: ECB Also Manipulating The Markets

24

D. Rosenberg: GDP Gap Makes Us Weak Going Into Slowdown

25

D. Rosenberg: Gaming The System (1)

26

D. Rosenberg: Gaming The System? (2)

27

D. Rosenberg: Gaming The System (3)

SUMMARY & CONCLUSIONS

28

KEVIN M. WILSON

This report is provided for informational purposes only and does not constitute an offer or solicitation to purchase or sell any security or commodity and is not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. Any opinions expressed herein are subject to change at any time without notice. Information has been obtained from sources believed to be reliable, for its accuracy and interpretation are not guaranteed.

Investing in securities involves risk, including possible loss of principal. Past performance should not be taken as an indication of guarantee of future performance and no representation, express or implied, is made regarding future performance.

The firm does not provide tax advice; clients should contact their attorney, accountant, or other tax adviser regarding tax matters.

Blue Water Capital Advisors, LLC is an SEC registered investment advisor. Not FDIC insured. No bank guarantee. May lose value. Not a deposit. Not insured by any federal government agency. Blue Water Capital Advisors, LLC is not affiliated with National Bank of Commerce or NATCOM Bancshares, Inc.

Disclaimer

2929