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Returns

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European Small Cap was the Best Performing Asset Class in 2015...

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Recessions Normally Start With a Flat/Negative Yield Curve (1976-2014)...

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Small Cap Has Outperformed in 13 of the Last 16 Years

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History Suggests that Small Stocks Could Outperform for Another 2 Years

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Small Cap Has Given Positive Returns Over the Past 4 Years

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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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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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Recoveries Have Been Worse of Late (1982-2015)

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