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Fourth Quarter 2011

RETURN-FREE RISK

So much agitation, fear and anxiety in 2011 for such meager results, though at least US stocks were able to show a small gain after dividends are included.  It was a wild ride: there were 49 days in 2011 in which the S&P 500 Index saw 90% of its daily volume up or down, with 20 of those days occurring in the Third Quarter.

To read this Investment Outlook in its entirety, download the PDF