Market Letter July 26, 2014

Wave (A) to the trough, Bonds, Gold & Emerging Markets Timeline.  Stretched end-to-end the remaining (A)-(B)-(C) Bear Market presents tremendous opportunity to compound capital with a price trajectory nearly 3x the Bull Market from 1982 to 2000, in just 12 years or so. Exceptional Bear Rated the Top-ranking Bear at mid-year by Timer Digest. Alpha is best quantified at major market reversals, to distinguish between portfolio returns due to the Rising Market versus skillin navigating reversals & Turbulent Bear Markets

Included: Relative Timeline for bounces in T-Bonds, Emerging markets & Gold