Softest Landing October 10, 1999 Dear Investor, The last week of September brought a bruising sell-off that left the S&P 500 up only 4.4% year-to-date. Though, as of this writing, the market has recovered somewhat (and expected strong Q3 earnings could propel the market higher), we believe that American markets are doing what was inevitable: reverting to the mean. After 20-30% years in both 1995 and 1996, investors found themselves hooked,...