1. Econ Advisory
September 19, 2017

2. Portfolio Performance

3. S&P 500

4. Portfolio Highlights Alphabet to invest $1B in Lyft
Will announce end to first click free policy, will stop penalizing websites who opted out
Constellation Brands P/E at the subsector average, below the S&P average
Ingersoll Rand acquired a compressor business in Maine
Chevron to divest 64.5k acres in Permian Basin to a private upstream company; exit from nonprofitable businesses to improve cash flow
Cloudistics to sponsor Splunk conference
Salesforce to invest $50m in AI companies

5. Econ / Market Summary Economy: M&A: Scandal: Other:
Fed announcing its unwind of the balance sheet
Stocks reach record high
Gold near yearly high
M&A:
Roku to IPO, valued at about $1.1B to $1.3B
DowDupont to split into $40b, $20b, and $14b from the advice of consultants and activist shareholders
Scandal:
Details surrounding Facebook’s involvement in election ($100k from Russian Ads)
Equifax: unknown extent of damages done to143m consumers
Other:
Bitcoin continues to sink, as China cracks down

6. Upcoming Events Market’s reaction to Fed meeting
Meeting to discuss NAFTA in Toronto on Sunday
SIC Events…
Industry group meetings and opportunities to lead
Activities Fair
Moelis & Co. Tomorrow night
Fidelity next Tuesday