Lead Article: Active Managers versus Free Markets

The question of "free markets" versus "socialism" is in the news.  We take this opportunity to remind investors that it is logically consistent for investors who accept the primacy of free markets to adopt passive, asset class management over the alternative of active management.  In our discussion we draw upon a transcript of a presentation given by Rex Sinquefield, co-founder of Dimensional Fund Advisors and currently President of the Show-Me Institute . . .

Inside This Issue:
Risk and Return: One Year Later
The Lost Decade
The High-Yield Dow Investment Strategy
Recent Market Statistics
Recommended Investment Vehicles