Since the stock market lows set in early March of this year, we’ve experienced a significant run-up in stocks earning back half of the losses surrendered in last year’s crash. The relevant questions that are being voiced now are: what’s behind this move upwards and has the market come too far too fast. With our portfolios, we want to answer these questions and try to be prepared for the near-term while keeping our strategies geared for the long run. Historically in recoveries