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Margins Could Soon be Bottoming Out in Europe (1990-2016)

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European Small Cap is Becoming Attractive with P/E ratios but Premium Vs. Large Cap Below Historical Average

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Growth is Continuing to Recover After 2 Years of Underperformance

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We Are 7 Years into this Bull Market but the Longest one Lasted 13 Years (Since July 1956)

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10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity

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Emerging Economies as a Percentage of the Total World

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US/EUR Fair Value Price (1999-2015)

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Summary of Expected Long-Run Real Return Estimates for Major Asset Classes

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Historical Rolling 5-Year Sharpe Ratios for Four Asset Classes (1960-2015)

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Insured Unemployment Rate is Historically Low (Mar 1970-Dec 2015)

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