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Presents...Who doesn't love to receive gifts? To: 2020, With love from: 2019

2019 capped off a pretty wild decade, which started with the recovery from the Great Recession, included European crises, Occupy movements, widespread unrest referred to as the Arab Spring, major developments in the War on Terror, new styles of leadership emerged in many countries, escalating natural disasters, and it ended with a tariff war. Yet despite all the challenges and angst, U.S. GDP/capita likely increased approximately 35% to $65k/person1 while China’s GDP/capita likely more than doubled to just over $10k/person2. U.S. stock market indexes increased quite nicely and commensurate with the increase in corporate earnings, in our estimation. Most people are left feeling grateful for t

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