Student of the Market - December 2020

Student of the Market

One of the best Novembers ever for stocks

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Value outperforms growth last three months

Largest value outperformance since 2002

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Best month ever for small cap stocks

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Lowest international equity fund weight since 2006

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Lower returns ahead?

The next 10 years might not look the same

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Record stock fund outflows and bond fund inflows

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Recent bond returns have drifted from interest rates

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