The Absolute Return Letter – February 2012

Europe is going from crisis to crisis at the same time as stock markets climb higher. Meanwhile, investors are left confused. The key to understanding the apparent disconnect between stock market behaviour and economic fundamentals is the aggressive policy being pursued by the ECB which has eased credit conditions in the crisis-stricken European banking industry. With more QE from the ECB in the pipeline, we expect equity prices to benefit.

Enjoy the read.

http://www.arpllp.com/core_files/The_Absolute_Return_Letter_0212%282%29.pdf

The_Absolute_Return_Letter_0212(2).pdf

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