The robust recovery in risk markets continued through the fourth quarter, although at a slower pace than that of previous quarters, as the bottoming process in the US and overseas became increasingly apparent and many central banks started to remove monetary policy accommodation, signaling an end to the worst of the crisis. (Duration: 5:35)

Recent market characteristics represented a meaningful change from the low quality rally we experienced through the second and third quarters of 2009. (Duration: 2:58)

A modest change in leadership was observed during the quarter, as performance favored higher quality stocks as opposed to the micro-caps and earnings depressed companies that led during the second and third quarters. (Duration: 4:02)

We believe that the first quarter 2010 will be a continuation of the liquidity-driven risk asset recovery we have seen in 2009. Major central banks remain on hold, although we expect some tightening from the US, Europe and UK by the third quarter. (Duration: 4:59)

After 2009’s big run up, many are wondering if there’s still value left in the market. Is it time to get defensive or shift allocations? (Duration: 4:20)

While we anticipate this recovery will be measured with some fits and starts to specific industries, we expect the direction of overall economic activity to trend higher. (Duration: 3:35)

As the market stumbled into early March, we started to see a variety of interesting investing ideas bubble to the surface. We were able to look at numerous companies from a value perspective that we had not analyzed for over a decade because the compression in valuations across all stocks created several compelling entry points. (Duration: 4:26)

The robust recovery in risk markets continued through the fourth quarter, although at a slower pace than that of previous quarters, as the bottoming process in the US and overseas became increasingly apparent and many central banks started to remove monetary policy accommodation, signaling an end to the worst of the crisis. (Duration: 2:13)

After 2009’s big run up, many are wondering if there’s still value left in the market. Is it time to get defensive or shift allocations? (Duration: 3:46)

Our strategy has been able to opportunistically purchase the new issue corporate deals at compelling price concessions to the existing debt and increase our investment grade credit exposure. (Duration: 3:32)

By overweighting the portfolio in depressed sectors such as corporate bonds and commercial mortgage-backed securities, we were able to benefit from both the attractive yields of these bonds, as well as their price appreciation as buyers have re-emerged. (Duration 4:13)