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It was inevitable, I suppose, that just a few trading days before the broad equity market finished doubling its panic lows of March 2009, the headline in the financial section of USA Today read: "Is It Too Late To Get Into Stocks?"...keep reading

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You'll find two of the only four numbers you really need to know about 2011 in the accompanying Client's Corner: the year-end closes of the S&P 500 for it and the previous year. This was probably as close to a perfectly unchanged net year as we are ever likely to see in our lifetimes. But as this essay makes clear, we were unchanged on the year after two major changes in market direction, a five-month correction that brought us as close to an "official" bear market as you ever get without actually crossing the line (indeed, we were there intraday), and the most horrific day-to-day volatility I ever saw....keep reading

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I always try to finish up the January edition of NMI a little earlier than usual--specifically, a few days before Christmas....keep reading

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1. The most delightful novel I've read in years is Justin Cartwright's Other ...
2. Knopf will publish in January Robert Harris' novel The Fear Index; I snagged a ...
3. Treat yourself to the film Margin Call, if you haven't already. This is by far the

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