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Dollar index since 1970

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EM and EAFE relative valuations

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Investments work, investors don't

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Equity returns during rising interest rate environments since 1977

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Bonds historically have weathered rate hikes

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Stocks and bonds experiencing similar declines in 2022

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Previous value cycles show the potential for prolonged outperformance

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5-year value-growth return differential recently touched historic lows since 1979

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Growth stocks remain far from valuation support since 1999

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