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2010 Q4 - Investment Letter (St. Joe)
The S&P 500 continued the sprint forward speeding ahead over 10% during the fourth quarter. The month of December alone rallied 6.68%, marking the best December performance in nearly 20 years. The total return for the S&P 500 index was 15.06% for the year. Comparatively, the average across our strategies posted a solid absolute return …