January 5, 2016 Dear Investor: 2015 was the year nothing worked, as recently reported in Bloomberg.com. Most bonds and stocks delivered negative returns. The relative winner, cash, went nowhere fast. Overseas indices were big losers compared to their domestic cousins, down anywhere from single digits to 33%. Our investments in energy, steel and emerging markets did poorly, underperforming most major indices. A young 2016 has provided little...