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Abstract
At this time last year I mentioned that local stock returns weren’t good, but compared with the national market indexes, we had no reason to complain: local stock had fallen about 6% compared with double digit decreases for the three most widely followed national market indexes. It’s even better this year — the average West Michigan stock rose over 35%, far better than either the Dow Jones Industrials or the S&P 500 Index, but not quite as good as the NASDAQ’s 50% rise.
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