Perspectives Newsletter: Q4, 2014
The fourth quarter was marked by an impressive performance from the US markets, highlighting a year in which the S&P 500 recorded 53 new all-time closing highs. The strong fourth quarter showing by US smallcap stocks allowed them to end the year with a positive return, though still far behind their large and midcap peers. International stocks, both developed and emerging, continued lagging in the quarter despite a 37% rise by the Shanghai A Shares Index, widening the 2014 gap between US performance and the rest of the world.
