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April 4, 2017

DM – Q1 Portfolio Commentary

Gradual improvements don’t make great headlines – Geopolitically speaking, the year’s opening quarter brought more of the same: North Korea lobbed some missiles into the Sea of Japan, Russia continued to stir up trouble, and, back on our shores, one could be forgiven for mistaking actual White House press briefings for their subsequent Saturday Night Live parodies. Against this disconcerting backdrop, however, stocks behaved as if the outside world had somehow stumbled into a rare state of tranquility.

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