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These charts demonstrate the benefits of a well-diversified portfolio.

Returns were erratic, with one-year returns ranging from +36% to -37%.

But record volatility was mediated because asset classes are not always correlated.

INTERNATIONAL DEVELOPED EX-US MARKET International ex-US Developed Markets (EAFE); AQR Global ex US MKT Factor (AQR Data Sets) 1986-1999; Vanguard Developed Markets Index Fund (VTMGX) 2000+

US STOCK MARKET AQR US MKT Factor Returns 1972-1992 (AQR Data Sets)

10-YEAR TREASURY FRED Interest Rate Data (10-year maturity) 1972+

LONG TERM CORPORATE BONDS Vanguard Long-Term Investment Grade Fund (VWESX) 1974+

REAL ESTATE (REIT) DFA Real Estate Securities I (DFREX) 1994-1996

GOLD Gold Fixing Price in London Bullion Market 3:00 PM (London time) 1972-2004

60/40 EQUITY S&P 500/10-Year U.S. Treasury

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