The Price of Admission

We believe a significant investment opportunity is being formed in the current market, based on present economic fundamentals combined with attractive valuations due to the week's market correction. We are often reminded that this short-term volatility is "The Price of Admission" for long-term equity market investors.

Recent data ranging from a solid labor market, strong new and existing home sales, positive commentary from management teams at Home Depot, Lowes Corp, Morgan Stanley etc., suggest that the US economy remains on a solid foundation thus far in 2020.

However, due to the "unique" nature of the Coronavirus concern (health care epidemic/pandemic), which tends to be more psychology related (stay at home so I don't get sick/infected), social isolation, work and travel stoppage etc., the global capital markets may experience a period of extended volatility.

At Oliver Luxxe we will use this volatility to identify HIGH QUALITY INVESTMENTS TRADING AT ATTRACTIVE VALUATIONS for our clients' portfolios. We firmly believe investors with a long-term time horizon should be well rewarded.

In our most recent 4Q19 market commentary, we opined that "the recent market improvement in equity prices should act as a reminder that stocks can experience periods of sharp volatility both upward and downward in the short-term. However, business fundamentals and valuations are what ultimately drives equity prices in the long run."

It's an old aphorism, attributed to J.P. Morgan and other various legendary investors of the past, that states: "In bear markets, stocks return to their rightful owners." We believe we are currently in that environment.

Importantly, history has consistently shown that during periods of extreme volatility (falling equity prices) value is actually being created, not destroyed when investors can identify and acquire high quality businesses that are trading at undemanding valuations. This is precisely what your investment team at Oliver Luxxe Assets is doing in the current environment.

Sincerely,

Joseph Sharma, CFA

Chief Investment Officer

Oliver Luxxe Assets, LLC

[email protected]

Toll Free: 888-472-3281

Fax: 908-741-4902

www.oliverluxxe.com

Oliver Luxxe Assets, LLC is a SEC-Registered Investment Adviser. A copy of the Firm’s Current Disclosure Brochure can be found on the SEC’s IAPD site ( https://adviserinfo.sec.gov/IAPD) or may be requested at any time by contacting us.

Significant risk may accompany investments in stocks, bonds or other asset classes over short periods of time. Investment return and principal value will fluctuate with changes in market conditions. Your investment may be worth more or less than your original cost.

Past performance is not indicative of future results.

This report is a publication of Oliver Luxxe LLC. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of subjects discussed. All expressions of opinion reflect judgment of author as of date of publication and are subject to change. Information contained herein does not involve rendering of investment advice. A professional adviser should be consulted before implementing any of strategies presented. Information is not an offer to buy or sell, or a solicitation of any offer to buy or sell securities mentioned herein. Different types of investments involve varying degrees of risk. Economic factors, market conditions, and investment strategies will affect performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. This document may contain forward-looking statements relating to objectives, opportunities, and future performance of U.S. market generally. Forward-looking statements may be identified by the use of such words as; “believe,” “expect,” “should,” “potential” and other similar terms. Examples of forward-looking statements include, but are not limited to, estimates to financial condition, results of operations, and success or lack of success of any particular investment strategy. All are subject to various factors, including, but not limited to economic conditions, changing levels of competition in industries and markets, changes in interest rates, and other economic, governmental, regulatory and other factors affecting a portfolio’s operations that could cause results to differ materially from projected results. Such statements are forward-looking in nature and involve known and unknown risks, uncertainties and factors, actual results may differ materially from those reflected in forward-looking statements. Investors cautioned not to place undue reliance on forward-looking statements / examples. None of Oliver Luxxe LLC or any affiliates, principals nor any other individual / entity assumes any obligation to update any forward-looking statements as a result of new information, subsequent events or any other circumstances.