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2nd Quarter 2018 Letter

Update on the Markets: Index 2nd Quarter 2018 Year-to-Date S & P 500 (Large US Stocks)          3.43%    2.65% Russell 2000 (Small US Stocks)          7.75%    7.66% FTSE All World ex US (International Stocks)        (2.54%)   (3.65%) Barclays US