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Has A Market High Ever Felt So Bad?
2013 brought good and bad news for investors. Unfortunately, the good AND bad news were one and the same: diversification worked extremely well. The divergence in performance between asset classes was significant, meaning the pistons in the diversification engine did what they were supposed to do. However, U.S. equities dominated all other asset classes, including developed and emerging foreign equities, real assets, and global fixed income.