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European stocks gained 9.9% in the fourth quarter and 24.9% for the year (Vanguard FTSE Europe ETF). After struggling in the third quarter, emerging-market (EM) stocks shot up almost 12% in the fourth quarter and returned 20.8% for the year (Vanguard FTSE Emerging Markets ETF). ... (A traditional 60%/40% U.S. stock/bond portfolio had its ... ................
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