Lead Article
Though the bear market that began last year will be remembered as one of the most severe in history, financial crises ultimately come and go. The financial services industry on the other hand, has been permanently altered. The bear market of 2008 will come to be regarded as a watershed year that triggered an investor exodus from Wall Street “full service” brokers and actively managed funds . . .

Inside this Issue
Active Management, Bear Markets and Investor Anxiety
Lessions from the Crisis: Structure in the Equity and Bond Markets
The High-Yield Dow Investment Strategy
Recent Market Statistics
Recommended Investment Vehicles