It has been a marvelous year for stocks. From the beginning of 2013, the U.S. stock market as measured by the S&P 500 Index exploded higher and never looked back. But for those investors that were allocated to anything other than the stock market, the year has taken on a far more sobering complexion. For in the place of stellar gains are scant returns if not outright losses across nearly all other major asset class. This has been a most unpleasant development for investors accustomed to using broad asset class diversification to achieve respectable returns while managing risk.
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