Who would have thought back in dark days of March of last year, we would look back on 2009 and see one of the largest market recoveries since 1933. Most of the year was filled with some level of anxiety for nearly all clients but market returns demonstrated the importance of rational investing and controlling emotions, something that is often hard to do! The S&P500 was up +26.5%, the Russell 2000 was up +27.2% and the MSCI EAFE (International Index) was up +32.5%. The Emerging Markets soared with the MSCI Index up +79%. Meanwhile those who looked to keep their money safe saw a return on U.S. T-Bills of 0.15%. In fact many money market funds are now subsidizing the fees they charge to prevent what would otherwise amount to a negative return for holding low risk investments!