New Omicron data suggests patients need less medical intervention

We continue to watch for updates on the global health situation, which will inform the policy response. “Initial data from a major hospital complex in South Africa’s omicron epicenter show that while Covid-19 case numbers have surged, patients need less medical intervention … Most originally sought treatment for ailments unrelated to the coronavirus and were discovered to have it in testing required for admission.” (Bloomberg) In the meantime, the U.S. economic data have shown momentum … View More

It will take more than 55 million barrels of oil to reduce energy costs

Late last week, President Biden announced he was going to release 55 million barrels of oil from our strategic oil reserve to combat high energy prices and inflation. Because we currently use 18mm Barrels of oil per day in the U.S. we are confident there will have to be further actions to solve the high price of oil (and its contributions to the inflation we have been seeing over the last few months). Although the announced policy attempts to bring down energy prices, we don't believe it will be… View More

Q3 Earnings and Inflation... both higher than expected

There was a growth scare in 3Q (especially in the U.S. and China), but as we move through 4Q growth looks to be reaccelerating. Yet price gains are continuing. U.K. CPI inflation rose to 4.2% y/y in Oct. The stagflation scare has morphed into a “sticky” inflation concern in numerous locations. “A trio of policy makers – Vice Chairman Richard Clarida, Governor Christopher Waller and St. Louis Federal Reserve Bank President James Bullard – signaled … that the topic of a faster taper m… View More

A change in market leadership?

We came across an interesting article from one of our research providers this week and thought we would share it with you. This piece makes an interesting argument for why commodities and materials may be among the better performing investments for the next few years. Although so much of the media’s coverage these days seems to focus on social unrest or geopolitical conflict, there are still nuggets of information that may help identify investment opportunities. Since the start of quantitativ… View More

Stagflation update based on Q3 Data

We believe we are seeing the peak in the 2021 stagflation scare, with the 3Q data reports from the U.S. last week & the weak China manufacturing PMI in Oct. There’s still plenty to worry about, as growth has stalled & bottlenecks keep inflation elevated. Wage pressures are building. Energy prices remain elevated. Yet these stories are becoming well known. There are key positives for economic growth. European 3Q GDP data was solid q/q. The U.S. yield curve is not inverted & consume… View More

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PRIVACY NOTICE REGARDING CLIENT PRIVACY

Fortem Financial Group, LLC, has adopted this policy with recognition that protecting the privacy and security of the non-public personal information we obtain about our customers is an important responsibility.

All financial companies choose how they share your non-public personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your non-public personal information. Even when you are no longer our customer, we will only share your non-public personal information as described in this notice. So, please read this notice carefully to understand what we do.

The types of non-public personal information we collect and share depend on the product or service you have with us. This information can include items such as your Social Security number and income, your account balances and transaction history, and your investment experience and account transactions.

We collect your non-public personal information in a variety of ways. For example, we obtain your non-public personal information when you open an account or give us your income information, tell us about your portfolio or deposit money, or enter into an investment advisory contract. We also collect your non-public personal information from other companies. For example, from the custodians who hold your account assets.

All financial companies need to share customer’s non-public personal information to run their everyday business. Below, we describe the reasons we can share your non-public personal information and whether you can limit this sharing.

We share your non-public personal information for our everyday business purposes such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, report to credit bureaus, to protect the confidentiality or security of your records, or as permitted by law. We may also share your non-public personal information for our own firm’s marketing purposes; so that we can offer our products and services to you.

Federal law gives you the right to limit only sharing non-public personal information about your credit worthiness for our affiliates’ everyday business purposes; sharing non-public personal information about you with our affiliates to market to you; and sharing non-public personal information with non-affiliates to market to you.

We don’t share non-public personal information about your creditworthiness with our affiliates for their everyday business purposes. We don’t share your non-public personal information with our affiliates to market to you. We don’t share your non-public personal information with non-affiliates to market to you. We also don’t share your non-public personal information for joint marketing with other financial companies. State laws and individual companies may give you additional rights to limit sharing.

We share non-public personal information with our parent company affiliate, Focus Financial Partners, Inc, for its internal and external auditing purposes. We also share your non-public personal information with a non-affiliate for the purpose of aggregating it and providing summary information based on this data to our parent company, Focus Financial Partners, Inc.

To protect your non-public personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

Our policy about obtaining and disclosing non-public personal information may change from time to time. We will provide you notice of any material change to this policy before we implement the change.

If you have questions please call us at 760-206-8500 or go to our website at www.fortemfin.com.

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Fortem Financial Group, LLC ("Fortem Financial" or the "Firm") is a federally registered investment adviser with offices in California and Arizona. Fortem Financial and its representatives are in compliance with the current registration and notice filing requirements imposed upon federally registered investment advisers by those states in which Fortem Financial maintains clients. Fortem Financial may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements.

This website is limited to the dissemination of general information regarding the Firm's investment advisory services offered to U.S. residents residing in states where providing such information is not prohibited by applicable law. Accordingly, the publication of Fortem Financial' website on the Internet should not be construed by any consumer and/or prospective client as a solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment, tax or legal advice. Furthermore, the information resulting from the use of any tools or other information on this website should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from Fortem Financial. Any subsequent direct communication from Fortem Financial with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. Fortem Financial does not make any representations as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to this website or incorporated herein, and takes no responsibility therefore. All such information is provided for convenience purposes only and all users thereof should be guided accordingly.

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