A Subtle But Crucial Data Point

Below is a synopsis of this investment report:

• A key component to our secular bull thesis on equities is the overall strength and direction of the U.S. economy.
• As third quarter earnings wrap up, small cap stocks have significantly outperformed large cap stocks on the back of solid earning – an important leading indicator for our economy.
• Given the setup for a slow and steady rise in equities, we strongly urge investors to continue to focus on the long-term fundamental drivers of stocks rather than media-driven, short-term noise.

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