March was a good test run for the inevitable market downturn. After being on cruise control for approximately two years the fear of inflationary pressures combined with quickly rising rates spooked the market resulting in a quick 10% drop. Sometimes when these "jolts" occur, other risks that may not have been appreciated or at least properly priced are exposed. For example, in 2008, auction rate securities quickly illustrated a risk not appreciated by investors. In the brief but violent downturn

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