market outlook presentation

Presented by:Louis Navellier, CIO

Market Outlook

Please see important disclosures at end of presentation

2

Avalanche of Good News

3

Leading Economic Indicators

On the Upswing

Please read important disclosures at end of presentation. Graphs are for discussion purposes only.

4

Auto Sales

Bottomed Out

On the Upswing


5

Consumer Confidence


Bottomed Out

On the Upswing

6

Retail Sales

Bottomed Out

On the Upswing


Source: Yardeni.com

7

Free Fall in Existing Home Prices Over?


-15.13-15.44

Source: FactSet, Navellier Applied Research

8

Existing Home Sales on the Rebound

3.45

5.10


Source: FactSet, Navellier Applied Research

9

Source: CNBC (http://www.cnbc.com/id/32208531), National Association of Realtors, Navellier Applied Research

Total Home Sales Up But High End is Slow


10

China Performing Well in 2009


Source: FactSet, Navellier Applied Research. The free-float market capitalization weighted MSCI China A index includes A share securities listed on both Shanghai and Shenzhen Stock Exchanges.

11

Latin America Also Strong


Source: FactSet, Navellier Applied Research. The MSCI EM (Emerging Markets) Latin America Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of emerging markets in Latin America.

12

CFO’s Economic Optimism at Five Year High

Copyright 2009 Ned Davis Research, Inc. Further distribution prohibited without prior permission. All Rights Reserved. See NDR Disclaimer at www.ndr.com/copyright.html. For Data vendor disclaimers refer to www.ndr.com/vendorinfo/


13

Opportunities created from leveraged hedge

fund “blow-ups”

14

Mortgage and Corporate Yield Spike



15

Navellier/Dial High Income Series Crosses Over $100 Million In Assets Raised

Source: Advisors Asset Management. Navellier Applied Research. Chart is for discussion purposes only. Past performance is no assurance of future results. Not an offer to sell nor a solicitation to buy any security. Important Disclosure InformationThis is a Unit Investment Trust (UIT). UITs are sold only by prospectus. You should consider the trust's investment objectives, risks, charges and expenses carefully before investing. Contact your financial professional or call Advisors Asset Management at 866-606-7220 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest or send money. Estimated Current Return is calculated by dividing Estimated Net Annual Interest Income per unit by the Public Offering Price. Estimated Long-Term Return is calculated using a formula which (1) factors in the relative weightings of the market values, yields (which takes into account the amortization of premiums and the accretion of discounts) and estimated retirements of the bonds and (2) takes into account the expenses and sales charge. There is no assurance that the Estimated Current and Long-Term Returns set forth will be realized in the future because the various components used to calculate these figures, such as trust expenses, market values and estimated retirements of the Securities, will change. In addition, neither rate reflects the true return you will receive, which will be lower, because neither includes the effect of certain delays in distributions. For informational purposes only and not a recommendation to purchase or sell any security. Securities offered through your financial professional. Complete prospectus available for download at: http://www.aamportfolios.com/AAM/FISIntegration/OurProducts.aspx?search=navellier Investing in securities, including UIT’s , involves substantial risk and has the potential for partial or complete loss of funds invested.

7.17%6.76%

6.42% 6.53% 6.36%6.74%

6.15%

5.54%5.86%

5.39%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

Series 1 Date of Deposit

6/24/09

Series 2 Date of Deposit:

7/17/09


8/07/09


8/26/09

Series 5 Date of Deposit

9/11/09

Percent (%

)

Navellier/Dial High Income Opportunities Portfolio

Estimated Current & Estimated Long Term Return

Est. Current Return Est. Long Term Return

WeightedAverage Maturity

4.517 Years

PrincipalAmount

$15,000,000

Weighted Average Maturity

4.367 Years

Principal Amount

$28,550,000


4.646 Years

Principal Amount

$23,200,000


4.093 Years

PrincipalAmount

$26,625,000


4.30 Years

PrincipalAmount

$26,000,000

16

Money Fund Assets Still High but Pulling Back


Money Market Fund Assets/NDR Total Market Value

(scale right)8/31/2009 = 30.7%

Money Market Fund Assets/NDR Total Market Value

(scale right)8/31/2009 = 30.7%

Record levelRecord level


17

Where is the cash going?


Source: Ned Davis Research, Navellier Applied Research

18


Evidence of Short Covering




19

Covering Shorts Can Be Tricky


Source: IDC/Exshare/FactSet

20

Volatility Spikes Signal Bear Market Bottoms

Historically large credit spreads have also signaled market bottoms


Eighty year spikeEighty year spike


21

Low Quality Stocks During 2009 YTD PerformanceS&P 500 Index: 12/31/2008 to 8/31/2009

Source: Factset. Standard & Poor's uses a computerized scoring system to compute basic scores for earnings and dividends, then adjusts the scores by a set of predetermined modifiers for growth, stability within long-term trend, and cyclicality. Adjusted scores for earnings and dividends are combined to yield a final score. The final score for each stock is measured against a scoring matrix determined by analyzing the scores of a large representative sample of stocks. S&P does not consider these rankings to be market recommendations. Presentation of Index data does not reflect a belief by the Advisor that any stock index constitutes an investment alternative to any Navellier equity strategy, or is necessarily comparable to such strategies. Among the most important differences between the Indices and Navellier strategies are that the Navellier equity strategies may (1) incur material management fees, (2) concentrate its investments in relatively few stocks, industries, or sectors, (3) have significantly greater trading activity and related costs, and (4) be significantly more or less volatile than the Indices. Although information in this presentation has been obtained from and is based upon sources that Navellier believes to be reliable, Navellier does not guarantee its accuracy and it may be incomplete or condensed. Please read important disclosures at end of presentation. Graphs are for discussion purposes only.

22

Market Leadership Shift

Source: Ned Davis Research. Past performance no assurance of future results. Stock Quality rankings are prepared by Ned Davis Research using a proprietary methodology. Copyright 2009 Ned Davis Research, Inc. Further distribution prohibited without prior permission. All Rights Reserved. See NDR Disclaimer at www.ndr.com/copyright.html. For Data vendor disclaimers refer to www.ndr.com/vendorinfo

Quality stocks benefit as bull market begins.


23

Advance Sector Alert ETF’s


Source: FactSet/Navellier Applied Research

24

Source: FactSet Navellier Applied Research. Index at 100 as of 12/31/08. The Russell 1000 Growth and Russell 1000 Value Indexes are unmanaged indexes of widely traded stocks. It is not possible to invest directly in an index. Past performance no assurance of future results.

Growth Style in Favor for 2009


126as of

September 24, 2009

114as of

September 24, 2009

25

Domestic Inventories Declining

Earnings may recover at an above average rate when economic conditions improve.


Retail Inventories inRecord pullback

Retail Inventories inRecord pullback


26

The “Wild Card”

27

What is the current state of the American consumer?

28

GDP Components

Source: Monthly Labor Review, June 1998. Please read important disclosures at end of presentation. Graphs are for discussion purposes only.

Classic definition used by economists:

GDP = Personal Consumption + Private Investment + Gov’t Spending + (Exports – Imports)

Approximate Contribution (%)

Personal Consumption

68%Private

Placement17%

Gov't Spending

16%

Exports20%

Imports(21%)

Personal Consumption

68%

29Source: Ned Davis Research, Navellier Applied Research. Please read important disclosures at end of presentation. Graphs are for discussion purposes only.

Ten Years of Job Growth – Gone Monthly Percent Change in Private Employment Trailing 10 Years

1/31/1950 – 8/31/2009

Per

cen

tag

e C

han

ge

Tra

ilin

g 1

0 Y

ea

rs (

Mo

nth

ly D

ata

)

30Source: Ned Davis Research, Navellier Applied Research. Please read important disclosures at end of presentation. Graphs are for discussion purposes only.

More People Employed 10 Years Ago

108.96

108.74

108.60

108.65

108.70

108.75

108.80

108.85

108.90

108.95

109.00

8/31/1999 8/31/2009

U.S. Private Sector Employment (millions)

31

Bank Card Delinquency Rate over 90 Days

Source: The Federal Reserve Bank of New York. Data as of 2nd Quarter 2009. Data for the smallest 10 percent of the counties by population have been removed and the counties are shaded grey because small population statistics are prone to extreme values and erratic fluctuations. Bank card delinquency rate 60+ days - Percentage of bank cards delinquent for 60+ days where bank cards are defined as credit card accounts available at banks and repayable in installments. Darker shading indicates higher percentage.

Red Conditions haveworsened

Green Conditions have improved

White No change

4-quarter changes are stated as percentage point differences from 4 quarters ago.

The relative shade of each color is determined by the percentage change in each category, not the percentage point change.


32

This is gap hardly surprising

Source: Yardeni Research. Please read important disclosures at end of presentation. Graphs are for discussion purposes only.

33

However expectations are improving!


34

A healthy consumer = healthy economy

Confidence at multi-year low


35

Hit Bottom?

Improving Earnings = Improving Employment?

*52-week forward consensus expected S&P 500 operating earnings per share. Monthly through March 1994, weekly thereafter. Time-weighted average of current and next year’s consensus estimates.Source: Thomson Financial and U.S. Department of Labor, Bureau of Labor Statistics


36

What will be the shape of the recovery?

37

“U” shape?

Note: Shaded areas are recessions according to the National Bureau of Economic Research.Source: Bureau of Economic Analysis


38


“V” shape?


39


“W” shape?


40

What about Stagflation?



41

What about the dollar?

42

After Recovering, the Dollar is Falling

*Broad index is a weighted average of the foreign exchange rates of the U.S. dollar against the Euro Area, Canada, Japan, Mexico, China, UK, Taiwan, Korea, Singapore, Hong Kong, Malaysia, Brazil, Switzerland, Thailand, Philippines, Australia, Indonesia, India, Israel, Saudi Arabia, Russia, Sweden, Argentina, Venezuela, Chile, and Columbia.Source: Board of Governors of the Federal Reserve System


43

A Longer View of the Dollar: 1973 – 2009

Source: FactSetPlease read important disclosures at end of presentation. Graphs are for discussion purposes only.

44

Source: Navellier Applied Research.

Weak Dollar Good For Navellier Large Cap Growth Wrap PortfolioFrom 2/28/2002 through 7/31/2008 U.S. Dollar lost -26% while Navellier Large Cap Growth Wrap Portfolio grew +61%


45

Source: Navellier Applied Research.


Weak Dollar Good For Navellier International Growth Wrap PortfolioFrom 10/31/2002 through 7/31/2008 U.S. Dollar lost -25% while Navellier International Growth Wrap Portfolio grew +139%

46

Summary

Historically, Navellier’s stock selection method thrives when quality stocks are in favor.

Market extremes can present one of a kind opportunities.

47

Questions?

48

Disclosures

POTENTIAL INVESTORS SHOULD CONSULT WITH THEIR FINANCIAL ADVISOR BEFORE INVESTING IN ANY NAVELLIER INVESTMENT

PRODUCT. Investment in equity strategies involves substantial risk and has the potential for partial or complete loss of funds invested.

Navellier does not calculate the statistical information included in the attached report. The calculation and the information are provided by Zephyr

Associates, a company not related to Navellier. Although information contained in the report has been obtained from Zephyr Associates and is based

on sources Navellier believes to be reliable, Navellier does not guarantee its accuracy, and it may be incomplete or condensed. The report and the

related Zephyr sourced information are provided on an “as is” basis. The user assumes the entire risk of any use made of this information. Investors

should consider the report as only a single factor in making their investment decision. The report is for informational purposes only and is not intended

as an offer or solicitation for the purchase or sale of a security. Zephyr sourced information is the exclusive property of Zephyr Associates. Without

prior written permission of Zephyr Associates, this information may not be reproduced, redisseminated or used to create any financial products.

Although information in this presentation has been obtained from and is based upon sources that Navellier believes to be reliable, Navellier does not

guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute Navellier's judgment as of the date the

presentation was created and are subject to change without notice. Any decision to purchase securities mentioned in this research must take into

account existing public information on such security or any registered prospectus.

The S&P 500 Index measures the performance of 500 stocks that are considered to be widely held by Standard & Poors, a division of The McGraw-

Hill Companies, Inc., and comprises approximately three-quarters of the total capitalization of companies publicly traded in the United States. The S&P

500 index is weighted by market value and its performance is thought to be representative of the stock market as a whole. It is reported that over 70%

of all U.S. equity funds are tracked by the S&P 500. The index selects its companies based upon their market size, liquidity, and sector. Most of the

companies in the index are mid cap or large corporations. This index is composed of 400 industrial, 20 transportation, 40 utility, and 40 financial

companies. Many experts consider the S&P 500 one of the most important benchmarks available to judge overall U.S. market performance.

Presentation of Index data does not reflect a belief by the Advisor that any stock index constitutes an investment alternative to any Navellier equity

strategy, or is necessarily comparable to such strategies. Among the most important differences between the Indices and Navellier strategies are that

the Navellier equity strategies may (1) incur material management fees, (2) concentrate its investments in relatively few stocks, industries, or sectors,

(3) have significantly greater trading activity and related costs, and (4) be significantly more or less volatile than the Indices.

49

Disclosures (continued)

STOCK GRADER: As a matter of normal and important disclosures to you, as a potential investor, please consider the following: The performance presented is not based on any actual securities trading, portfolio, or accounts, and the reported performances of the A, B, C, D, and F portfolios (the "model portfolios") should be considered mere "paper" or proforma performance results based on Navellier's research. Investors evaluating any of Navellier & Associates, Inc.'s, (or its affiliates') Investment Products must not use any information presented here, including the performance figures of the model portfolios, in their evaluation of any Navellier Investment Products. Navellier Investment Products include the firm's mutual funds, managed accounts, and hedge funds. The model portfolios, charts and other information presented do not represent actual funded trades and are not actual funded portfolios. There are material differences between Navellier Investment Products' portfolios and the model portfolios, research, and performance figures presented here. The model portfolios and the research results (1) may contain stocks that are illiquid and difficult to trade; (2) may contain stock holdings materially different from actual funded Navellier Investment Product portfolios; (3) do not include trading costs, commissions, or management fees; and, (4) may not reflect prices obtained in an actual funded Navellier Investment Product portfolio. For example, while Navellier manages an equity strategy called "Fundamental A," the actual Fundamental A portfolio cannot own (for the reasons cited above) a significant number of stocks that may receive from time to time, based on Navellier's research, a fundamental grade of "A." For these and other reasons, the reported performances of model portfolios do not reflect the performance results of Navellier's actually funded and traded Investment Products. In most cases, Navellier's Investment Products have materially lower performance results than the performances of the model portfolios presented.

As a matter of important disclosure regarding the model results presented for Stock Grader, the following factors must be considered when evaluating the long-short performance figures presented:

1. Historical or illustrated results presented herein do not necessarily indicate future performance; Investment in securities involves significant risk and has the potential for partial or complete loss of funds invested.

2. The results presented were generated during a period of generally improving economic conditions in the U.S. and positive market performance. There can be no assurance that these favorable market conditions will occur again in the future. Navellier has no data regarding actual performance in different economic or market cycles or conditions.

3. The results portrayed reflect the reinvestment of dividends and other income.

4. The results portrayed do not include any investment advisory fees, administrative fees, or transaction expenses, or other expenses that a client would have paid or actually paid.

5. LIMITATIONS INHERENT IN MODEL RESULTS: The performance results presented are from a model portfolio, not an actually funded portfolio, and may not reflect the impact that material economic and market factors might have had on the adviser's decision making if the adviser were actually managing clients' money, and thus present returns which are greater than what a potential investor would have experienced for the time period. The results are presented for informational purposes only. No real money has been invested in this model portfolio. The model performance results should be considered mere 'paper' or pro forma performance results. The model results do not represent actual funded trades and may not reflect actual prices paid or received for actual funded trades.

6. The model results may or may not relate, or only partially relate, to the type of advisory services currently offered by Navellier & Associates, Inc.

7. In most cases, the adviser's clients had investment results materially lower than the results portrayed in the model.

Potential investors should consult with their financial advisor before investing in any Navellier Investment Product. It should not be assumed that any securities recommendations made by Navellier & Associates, Inc., in the future will be profitable or equal the performance of securities made in this report. For a list of recommendations made by Navellier & Associates, Inc., for the preceding twelve months, please contact Tim Hope at (775) 785-9416. Investment in equity strategies involves substantial risk and has the potential for partial or complete loss of funds invested.

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MO092509

market outlook presentation

Documents

end of presentation

important disclosures

discussion purposes

high end

informational purposes

ned davis research

market values

research total home