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S&P 500 performance one year after the Fed raises rates, since 1994

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Percentage of funds outperforming S&P 500 on a 5-year basis since 1970

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Value still remarkably cheap relative to growth, based on composite fundamentals as of 12/31/21

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Inflation and value as of 12/31/21

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S&P 500 returns following select market moving events

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Two-year US treasury PE multiple since 1977

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Ten-year US treasury since 1962

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Two-year US treasury since 1977

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Performance of "disinflation/deflation assets" vs. "inflation assets" since 1960

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Guggenheim recession probability forecast since 1970

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