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A Matter of Time

Harris Associates
May 19th, 2014
A Matter of Time

Author: Edward S. Loeb, CFA, Partner and Portfolio Manager

Three months ago equity investors may have wiped the perspiration from their brows, basking in the heat of 2013’s 32% gain in the S&P 500. But after experiencing Mother Nature’s unusually brutal winter, performance so far in 2014 matched the quarter’s thermometer reading, frozen.


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