The Absolute Return Letter – March 2013

The Absolute Return Letter, March 2013

Expect the Unexpected

With real interest rates being negative in many countries we expect low returns on both equities and bonds going forward. Many investors have responded to that by allocating more and more of their assets to passive strategies such as ETFs. We believe it is the wrong approach for this type of environment.
http://arpinvestments.com/The%20Absolute%20Return%20Letter%200313.pdf

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