DISCLOSURE: The information and opinions shared by The Portfolio Strategy Group, LLC (PSG) are for informational purposes only. This commentary identifies select developments that may be of interest to its readers. The material contained herein is summarized and abridged from various sources where the accuracy and completeness cannot be guaranteed. Reference to a particular company or strategy does not constitute legal, tax or investment advice, and should not be interpreted as a specific recommendation to buy or sell securities or other financial products (company or industry discussions do not necessarily reflect any or all buys or sells by PSG during the quarter). All investing includes the risk of loss, including the possible loss of principal. These observations are proprietary in nature and may not be reproduced or disseminated without PSG’s written consent.