January 7, 2014 Dear Investor: Nearly all stocks appreciated last year. Nearly all bonds lost money. According to Bloomberg, 460 out of the S&P 500 rose in value in 2014. A monkey (or a money manager–same thing) throwing darts could have done well as long as the dartboard was on the “stocks” wall. Sadly, most investors were not focused on stocks, mired as they were in fighting the last war, paralyzed by fears of market declines and...