Report Detail Summary

The Third Quarter Outlook

June 20, 2012

Our forecast calls for the continuation of an acceleration of the economy. However, the question that investors must consider is whether the expected improvement in the rate of economic growth includes an element of a false prosperity, where investors are simply accelerating income in anticipation of the tax increases. If this is correct, once 2013 comes around, the pace of economic activity will decline and we will return to sub-par economic activity.

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The ValueTiming™ strategy is based on the assumption that politicians and policymakers have particular views of the world, and that they will in general adopt policy measures that are consistent with these views.


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