The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
HSBC Hldgs PLC 6.2% Ser A (Cal PFD 404280604 618 24,150 SH   SOLE   0 0 24,150
ABB Ltd. COM 000375204 4,456 251,314 SH   SOLE   0 0 251,314
Abbott Laboratories COM 002824100 300 6,675 SH   SOLE   0 0 6,675
Alibaba Group Holding Ltd COM 01609W102 7,138 87,830 SH   SOLE   0 0 87,830
Alken Euro Opp Fd COM G78994947 3,986 39,652 SH   SOLE   0 0 39,652
Allianz RCM Technology Fund Cl COM 018919464 3,477 64,040 SH   SOLE   0 0 64,040
Alphabet Inc. Cap Stk CL A COM 02079K305 4,218 5,421 SH   SOLE   0 0 5,421
Alphabet Inc. Cap Stk CL C COM 02079K107 9,664 12,735 SH   SOLE   0 0 12,735
Amazon.com, Inc. COM 023135106 832 1,231 SH   SOLE   0 0 1,231
American Express Inc. COM 025816109 661 9,497 SH   SOLE   0 0 9,497
Apple Computer COM 037833100 7,767 73,793 SH   SOLE   0 0 73,793
Avon Products, Inc. COM 054303102 1,008 248,768 SH   SOLE   0 0 248,768
BP p.l.c. ADR COM 055622104 2,692 86,113 SH   SOLE   0 0 86,113
Banco Santander Centl Hispano COM 05964h105 611 125,520 SH   SOLE   0 0 125,520
Bank of America COM 060505104 1,371 81,434 SH   SOLE   0 0 81,434
Barclays Bank PLC COM 06739H362 225 8,470 SH   SOLE   0 0 8,470
Berkshire Hathaway, Inc. CL A COM 084670108 1,780 9 SH   SOLE   0 0 9
Berkshire Hathaway, Inc. CL B COM 084670702 9,105 68,954 SH   SOLE   0 0 68,954
BlackRock Global Funds, Alloca COM L10491972 961 19,587 SH   SOLE   0 0 19,587
Chevron Corp. COM 166764100 8,363 92,965 SH   SOLE   0 0 92,965
Cisco Systems COM 17275r102 7,975 293,670 SH   SOLE   0 0 293,670
Citigroup Inc. COM 172967424 12,907 249,419 SH   SOLE   0 0 249,419
Coca-Cola Co. COM 191216100 427 9,950 SH   SOLE   0 0 9,950
Colgate Palmolive Co. COM 194162103 223 3,351 SH   SOLE   0 0 3,351
Conagra Inc. COM 205887102 735 17,426 SH   SOLE   0 0 17,426
Deutsche Global Real Estate Se COM 25159L109 154 17,745 SH   SOLE   0 0 17,745
Devon Energy Corporation COM 25179m103 213 6,645 SH   SOLE   0 0 6,645
Diageo PLC Spons. ADR COM 25243q205 739 6,778 SH   SOLE   0 0 6,778
Exxon Mobil Corporation COM 30231g102 1,636 20,983 SH   SOLE   0 0 20,983
Facebook Inc. COM 30303m102 8,754 83,640 SH   SOLE   0 0 83,640
Franklin Income Fund - Class I COM L4058T635 551 31,529 SH   SOLE   0 0 31,529
Franklin India Fund Cl Z COM L4059C490 806 66,473 SH   SOLE   0 0 66,473
Freeport Mcmoran Copper & Gold COM 35671d857 666 98,446 SH   SOLE   0 0 98,446
General Dynamics Corporation COM 369550108 796 5,795 SH   SOLE   0 0 5,795
General Electric COM 369604103 6,160 197,749 SH   SOLE   0 0 197,749
General Motors Co COM 37045v100 7,035 206,839 SH   SOLE   0 0 206,839
Glencore Xstrata PLC - OTC US COM g39420107 493 369,375 SH   SOLE   0 0 369,375
Glencore Xstrata PLC(ADR) COM 37827x100 177 67,295 SH   SOLE   0 0 67,295
Goldman Sachs Group, Inc. COM 38141g104 4,455 24,720 SH   SOLE   0 0 24,720
Health Care Select Sector SPDR COM 81369Y209 8,490 117,861 SH   SOLE   0 0 117,861
Heineken N V S ADR COM 423012301 6,595 154,820 SH   SOLE   0 0 154,820
Henderson Gartmore - Cont Eur COM 326895935 1,561 147,499 SH   SOLE   0 0 147,499
Home Depot COM 437076102 1,157 8,747 SH   SOLE   0 0 8,747
Honeywell, Inc. COM 438516106 6,826 65,908 SH   SOLE   0 0 65,908
IShares Russell Midcap Index F COM 464287499 4,033 25,177 SH   SOLE   0 0 25,177
Intel Corp. COM 458140100 6,463 187,604 SH   SOLE   0 0 187,604
Ishares US Aerospace and Defen COM 464288760 3,766 31,860 SH   SOLE   0 0 31,860
JPMorgan Chase & Co. COM 46625h100 11,432 173,132 SH   SOLE   0 0 173,132
Janus Cap Global Life Sciences COM 520456914 5,921 177,555 SH   SOLE   0 0 177,555
Johnson & Johnson COM 478160104 786 7,654 SH   SOLE   0 0 7,654
Lazard Emerging Mkts Equity Po COM 52106n889 4,913 365,551 SH   SOLE   0 0 365,551
Lehman Brothers Holdings, Inc. COM 524ESC100 0 12,000 SH   SOLE   0 0 12,000
Lockheed Martin Corp. COM 539830109 906 4,171 SH   SOLE   0 0 4,171
Lowes Companies, Inc. COM 548661107 712 9,370 SH   SOLE   0 0 9,370
M&T Bank Corporation COM 55261f104 475 3,918 SH   SOLE   0 0 3,918
MFS Global Total Return Fund C COM 552986853 462 30,024 SH   SOLE   0 0 30,024
MFS Meridan Global Total Retur COM L63667874 629 42,703 SH   SOLE   0 0 42,703
Market Vectors Oil Services ET COM 57060u191 4,535 171,454 SH   SOLE   0 0 171,454
Market Vectors Pharmaceutical COM 57060u217 345 5,279 SH   SOLE   0 0 5,279
Marsh & McLennan Companies, In COM 571748102 563 10,150 SH   SOLE   0 0 10,150
Matthews India Fund COM 577130859 623 23,554 SH   SOLE   0 0 23,554
Merck & Co, Inc. COM 58933y105 10,194 193,004 SH   SOLE   0 0 193,004
Microsoft Corp. COM 594918104 8,457 152,433 SH   SOLE   0 0 152,433
Newell Rubbermaid Inc COM 651229106 486 11,026 SH   SOLE   0 0 11,026
Oakmark International Fund Cla COM 413838202 7,948 372,098 SH   SOLE   0 0 372,098
Orbital ATK Inc COM 68557N103 406 4,550 SH   SOLE   0 0 4,550
PayPal Holdings, Inc COM 70450Y103 9,559 264,054 SH   SOLE   0 0 264,054
Pepsico Inc. COM 713448108 1,435 14,359 SH   SOLE   0 0 14,359
Petroamerica Oil COM 71647B600 411 444,908 SH   SOLE   0 0 444,908
Pfizer Inc. COM 717081103 14,413 446,489 SH   SOLE   0 0 446,489
Philip Morris International In COM 718172109 1,859 21,148 SH   SOLE   0 0 21,148
Pictet - Water Held by Eurocle COM 255787939 1,077 3,688 SH   SOLE   0 0 3,688
Pinebridge Invest India Eqty COM 452099914 1,272 3,336 SH   SOLE   0 0 3,336
Procter & Gamble COM 742718109 10,750 135,373 SH   SOLE   0 0 135,373
Pulte Group Inc COM 745867101 4,935 276,920 SH   SOLE   0 0 276,920
Quimica y Minera Chile Sp ADR COM 833635105 190 10,000 SH   SOLE   0 0 10,000
RWC Fds - Nissay Jap F - AUSDH COM 45645R924 3,548 31,722 SH   SOLE   0 0 31,722
Raytheon Co. COM 755111507 7,083 56,876 SH   SOLE   0 0 56,876
Regions Financial Corp. COM 7591EP100 220 22,929 SH   SOLE   0 0 22,929
S&P 400 Mid-Cap Dep. Recpt. COM 78467y107 2,854 11,234 SH   SOLE   0 0 11,234
S&P 500 Depository Receipt COM 78462f103 5,841 28,649 SH   SOLE   0 0 28,649
SPDR DJIA Trust COM 78467x109 361 2,076 SH   SOLE   0 0 2,076
SPDR S&P Homebuilders COM 78464A888 3,406 99,636 SH   SOLE   0 0 99,636
SPDR S&P Regional Banking COM 78464a698 5,710 136,222 SH   SOLE   0 0 136,222
SPDR SERIES TRUST BRCLYS 1-3MT COM 78464A680 209 4,575 SH   SOLE   0 0 4,575
Select Sector SPDR Consumer Di COM 81369y407 10,614 135,791 SH   SOLE   0 0 135,791
Select Sector SPDR Consumer St COM 81369y308 4,593 90,975 SH   SOLE   0 0 90,975
Select Sector SPDR Energy COM 81369Y506 4,075 67,549 SH   SOLE   0 0 67,549
Select Sector SPDR Financial COM 81369y605 3,887 163,128 SH   SOLE   0 0 163,128
Select Sector SPDR Industrial COM 81369y704 329 6,199 SH   SOLE   0 0 6,199
Select Sector SPDR Technology COM 81369y803 14,809 345,758 SH   SOLE   0 0 345,758
Strayer Education, Inc. COM 863236105 422 7,017 SH   SOLE   0 0 7,017
Telefonica de Espana SA Sponso COM 879382208 519 46,929 SH   SOLE   0 0 46,929
Templeton Growth Fund, Inc ClA COM 880199104 219 10,000 SH   SOLE   0 0 10,000
The Brink's Company COM 109696104 610 21,153 SH   SOLE   0 0 21,153
Toll Brothers, Inc COM 889478103 5,075 152,395 SH   SOLE   0 0 152,395
Total Fina S.A. ADR (N/C 6/14/ COM 89151E109 1,926 42,850 SH   SOLE   0 0 42,850
Toyota Motor Corp ADR COM 892331307 5,719 46,480 SH   SOLE   0 0 46,480
Vanguard Emerging Market COM 922042858 1,641 50,170 SH   SOLE   0 0 50,170
Vanguard Energy ETF COM 92204A306 1,349 16,227 SH   SOLE   0 0 16,227
Vanguard Intermediate Term Bon COM 921937819 233 2,800 SH   SOLE   0 0 2,800
Visa Inc COM 92826c839 5,289 68,202 SH   SOLE   0 0 68,202
Vista Outdoor Inc COM 928377100 521 11,700 SH   SOLE   0 0 11,700
Vodafone Group ADR (NEW) COM 92857w308 10,783 334,257 SH   SOLE   0 0 334,257
Vodafone Group(British Pounds COM GB00BH4HK 56 17,250 SH   SOLE   0 0 17,250
WPX Energy Inc. COM 98212b103 742 129,320 SH   SOLE   0 0 129,320
Wal-Mart Stores COM 931142103 636 10,375 SH   SOLE   0 0 10,375
Walt Disney Company COM 254687106 803 7,639 SH   SOLE   0 0 7,639
Wells Fargo & Co. COM 949746101 962 17,693 SH   SOLE   0 0 17,693
Wisdom Tree Europe Hedged Equi COM 97717X701 7,973 148,165 SH   SOLE   0 0 148,165
Wisdomtree Europe Smallcap Div COM 97717W869 6,714 119,894 SH   SOLE   0 0 119,894
Wisdomtree Germany Hedged Equi COM 97717W448 3,261 122,485 SH   SOLE   0 0 122,485
Wisdomtree TR Japan Total Div COM 97717W851 4,857 96,986 SH   SOLE   0 0 96,986
Zoetis Inc COM 98978v103 7,709 160,883 SH   SOLE   0 0 160,883
iShares DJ Select Dividend Ind COM 464287168 842 11,200 SH   SOLE   0 0 11,200
iShares MSCI Emerging Markets COM 464287234 1,125 34,947 SH   SOLE   0 0 34,947
iShares MSCI Mexico Capped COM 464286822 3,517 70,578 SH   SOLE   0 0 70,578
iShares Naftrac COM 54555P910 2,098 841,501 SH   SOLE   0 0 841,501
iShares Russell 2000 Growth COM 464287648 2,110 15,146 SH   SOLE   0 0 15,146
iShares S&P MidCap 400 Index F COM 464287507 6,061 43,505 SH   SOLE   0 0 43,505