Just When You Thought It Was Safe to Go Back in the Water

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Returns for a globally diversified strategy over the last 10 years refute the notion of a “lost decade”.

Last week investors were complaining that things were too quiet and volatility was almost non-existent. Well, be careful what you wish for, it may just bite you. Yesterday was a wake-up call for complacent investors as Wall Street decided that all of the Washington drama might delay the long awaited pro-growth policies. Today investors are taking a sensible second look at the market and coming to the realization that companies will continue to do business regardless of what happens in Washington. A blowout manufacturing Philly Fed Index of 38.8 and a 4K drop in initial jobless claims on the economic front also added some comfort. Please see page 4 of the Global Perspectives™ book for a look at an effectively diversified portfolio designed to help reduce volatility when wading into the market waters.

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