Portfolio Commentary – Second Quarter 2014

The summer has brought with it a welcome reprieve from the harsh winter, and the markets around the world are participating in a global recovery. World markets have shrugged off a variety of concerns including the U.S. surprise GDP miss (attributed to the unusually bad winter weather), Russia’s hijinks with Ukraine, and continued slow growth from Europe. Emerging markets still have the most attractive relative valuation with China deftly navigating the delicate balance of shifting…

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