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  • The R2000 returned 27.2% in 2009, modestly outperforming the S&P 500’s 26.5% total return.  It was a superb year to own small-caps, reinforcing yet again that stocks discount marginal change and forward events, not current news and that equity prices are heavily influenced by liquidity.  Investors that focused on current ’09 no...full article available after login

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