We believe that we are currently enjoying an equity bull market similar to that of the mid-1990s.

Equity valuations are still appealing. We think investors are too cautious.

The equity market typically positions itself for economic recovery at the approximate mid-point of recession.

Historically, there has been a bull market in commodities every 20 or 30 years.

And if not for the gyrations in the equity market, it would have been a lot thinner.

We're in the throes of a protracted bull market.