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Economy

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The Average annual Real Returns of 60% and 40% Bond Portfolio from 1900-2014

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S&P Indices Versus Active Fund Results at the End of 2014

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S&P Composite Index: Regression to Trend (Inflation-Adjusted Price Since 1871)

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S&P Composite Index: Regression to Trend (With Standard Deviations Highlighted)

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The Commodity Index - Still Way Over Trend

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Dynamic Glidepath: +/- 20% "Channel"

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Impact of Hedging on "Tail Events" for an Investment in MSCI EAFE or MSCI Switzerland

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Six Month Average Forecasted Direction vs. Actual Direction of Interest Rates

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Mid-Cap Value Has Provided High Returns With Relatively Low Volatility

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Current USD Strenght Cycle Has Further To Go

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