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  In January 2016, we experienced the worst 10 day start of the stock market since 1897.  I’m an economics history guy and that’s saying something.  If not for the 396 point comeback on the last day of the month, the Dow decline of 5.5% would have looked a lot worse. In the  November 2015 newsletter  we talked about the formation and the independence of the US stock market.  In this letter, I want to talk about the interdependence…

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