Quarterly Commentary

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2017 Third Quarter Newsletter

Sequence of Return Risk This quarter’s update introduces the concept of Sequence of Return Risk and how this under-appreciated risk especially relevant in today’s market …

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2017 Second Quarter Newsletter & Outlook1

If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 2.68% so far this year (through June 30, …

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2017 First Quarter Newsletter & Outlook1

If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 1.67% after fees through March 31, 2017. The …

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2016 Year End Newsletter & Outlook1

If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 3.47%1 after fees this year through December 31, …

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2016 Third Quarter Report1

If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 4.71% after fees this year through September 30, 2016.

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2016 Second Quarter Report1 – Global Interest Rate Mania

If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 3.67% after fees through June 30, 2016. The …

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