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Neither the vengeance of Mother Nature, North Korea's threats of nuclear retaliation, an increasingly fractious political environment both at home and abroad, a rising terrorism threat, nor the prospects for coordinated monetary tightening by central banks in the US, the UK, and Europe were enough to shake investor conviction over the last several quarters. Global equity markets continued their advance unabated. (400-0)
Global equity markets continued to gain strength in the third quarter off their Brexit lows back in late June, shrugging off worries about the impact of negative interest rates, anemic global growth, currency volatility, and pre-election jitters. Despite continuing to carry above-average cash reserves, the Tweedy Browne Funds also produced solid absolute returns in this buoyant environment, and three out of our four Funds are besting their benchmark indices year-to-date.
Greetings and welcome to the AMG Second Quarter 2016 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
The lobby of the Hyatt Regency in New Brunswick, N.J., had been transformed into a bazaar of medical-supply exotica. One booth showcased a large machine that sterilized surgical instruments in 24 minutes, a fraction of the normal time. Nearby was a slick little mealtime insulin dispenser and, not far away, an acne-treating light-therapy mask that looked like a prop from the slasher flick Friday the 13th.
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Greetings and welcome to the AMG's First Quarter 2016 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.