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Q3 2015 Quarterly Review

Q3 2015 Market Commentary Market volatility returned in a profound way during the third quarter. Nearly all major equity markets entered correctional territory, falling at least 10% from a previous peak, as uncertainty surrounding the path of the global economy began to weigh on investor sentiment. The MSCI World Index dropped 8.4% in U.S. dollar…

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Q2 2015 Quarterly Review

Q2 2015 Market Commentary The second quarter of 2015 echoed many of the questions and concerns of the first. Global markets were volatile as investors continued to wait for the U.S. Federal Reserve to set a date for its first interest rate hike and contemplated the lack of economic growth in the consumer space. Overseas,…

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Q1 2015 Quarterly Review

Q1 2015 Market Update In the first quarter of 2015, markets remained volatile as the U.S. dollar continued to gain strength, Europe initiated quantitative easing (QE), China continued easing monetary policies to boost domestic growth, and investors tried to guess when the US Fed will begin raising rates. The optimistic outlook for global growth remained fragile, but initial…

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Q4 2014 Market Update

In the 4th quarter of 2014, global equities delivered positive returns amid heightened volatility. The IMF cut its global growth estimates, and increased volatility remained a key dynamic in the fourth quarter of 2014. At one point during October, almost all global equity averages were either down or flat for the year before the majority…

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Q3 2014 Market Update

Volatility reentered the market in the 3rd quarter of 2014. Geopolitical risks caused fluctuations in global markets, spurred on by the Ebola outbreak in West Africa, continued tensions on the Ukraine/Russia border, and by ISIS in Iraq. Despite this, the US GDP rose at a robust 4.6% annualized pace for the quarter. Currency moves were…

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Q2 2014 Market Update

Disappointing economic data from the first quarter was not enough to stop global equity markets from persistently pushing forward during the second quarter of 2014. Despite geopolitical tensions and continually shifting central bank policies around the world, global markets began to break away from their lackluster early year performances. The global equity and fixed income…

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Q1 2014 Market Update

2014 got off to a rocky start for investors as concerns about growth in a tighter monetary policy environment put pressure on developed equities despite signs of on-trend growth in the U.S. Europe, and Japan. Markets rebounded in February, however the rally stalled as investors focused on the situation in Ukraine and on comments made…

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The Waterloo 2014 Outlook

2014 Outlook: Back to Normal In 2013, the U.S. equity market experienced its best year in well over a decade. The Dow Jones Industrial Average was up 26.5%, the largest annual gain since 1997. Anything with a hint of equity beta did well in 2013, as the tailwinds from the market continued throughout the entire…

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Hedge Funds Explained

Introduction Hedge funds have grown significantly in popularity over the past decade. Total hedge fund industry capital has reached a record level of $2.41 trillion as of Q2 2013. (1) Originally, hedge funds offered little transparency and were limited to sophisticated institutions and ultra-high net worth individuals. Today, hedge funds have become widely accepted among…

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