A few months ago, Federal Reserve Chairman Ben Bernanke made headlines when he coined a new catchphrase by describing the economic outlook as “unusually uncertain.” Although he was talking about the economy, his remark applied with equal force to the investment markets. Still, since the market turn in March 2009, the S&P 500 was up 67 percent through November 2010,1 global stocks posted similar results and bonds produced some banner performance — but in all cases with notable volatility ...

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