Climbing the Wall of Worry

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There is an old Wall Street adage that the market climbs a wall of worry. While last year had several periods when the equity markets were down and there were plenty of things to worry about, the S&P 500 index climbed that wall of worry without much apparent struggle. The Index was up 29.6% price-only. As we move into 2014, it is apparent that some of last year’s strong performance might have been…

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