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2011 Q4 - Investment Letter (Corning & CR Bard)
2011 saw political revolts in Egypt and the Middle East, a tsunami in Japan, commodity prices spiking, housing prices double-dipping, stubbornly high unemployment, a Greece bail-out, a U.S. debt downgrade, an ongoing sovereign debt crisis in Europe, and signs of slowing in China. After such a rollercoaster year, we were surprised to notice the S&P …