The stock market has been consolidating gains after surging nearly 30% in 2013. So far in 2014, the S&P 500 suffered a shallow correction of 5.8% early in the quarter, yet managed to post a 1.3% gain overall. As we anticipated, the market became more volatile as troubling events unfolded overseas. You may recall we first forecasted problems for the emerging markets in our July 2013 Investment Strategy. This prediction quickly became more accurate than even we anticipated as unrest surged across the world. Not foreseen by anyone was the rapid fall of the Ukrainian government and the subsequent move by Russia to annex Crimea, home to Russia’s strategic Black Sea ports. A more economically significant situation is developing in China as their credit-fueled hyper-growth is showing increased signs of distress. These overseas disruptions increase our confidence the U.S. will be the ultimate investment winner over the next few years. We believe investors and corporations will continue to move capital to America, resulting in faster growth, higher stock prices, and a stronger dollar.