As we look back at 2014, an environment categorized by slow economic growth, low interest rates and minimal inflation rewarded investors that followed a long-term strategy and took prudent risk. Looking ahead, many investors expect a continuation of the post-crisis bull market, which is now the second-longest annual winning streak on record. While the global economic backdrop appears to be generally supportive of this view, there are several risks confronting investors ranging from geopolitical tension arising from falling oil prices to the eurozone’s ongoing battle with deflationary forces.

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