What a year - 2020! The market achieved record highs near year-end despite a collection of intertwined seismic events during the period - the worst global pandemic in a century, resulting in profound changes in our way of life, massive reactive policy shifts, presidential election controversy, “warp-speed” medical innovations, the most rapid materialization of a bear market on record, and among the largest and most rapid market recoveries in history. Yet, with the recent development and distribution of vaccines, accommodative and stimulative policies around the globe, and the likelihood of a divided US government; there looks to be light at the end of the tunnel and the prospects for global economic recovery appear to be on the upswing setting the stage for a constructive and hopefully more normal 2021. While the market ended up for the year, 2020 was marked with intense volatility. Reacting to the most profound health crisis in a century, the year featured the onslaught of the most rapid “bear market” (a decline of 20% or more) on record. Blackrock research sites that in just 23 trading days following the market hitting new highs on February 19, the S&P 500 declined 34%! In March alone the market was up or down more than 4% eight separate times! In comparison there were only 6 such days in 1929 during the Great Depression, and the annual average of plus or minus 4% days over the past 90 years is just 3.2 days. From its lows the marke