The market has taken hints that the Fed might start winding down its program of quantitative easing with the same calm composure as a kid whose parents tell him that they’ve eaten all his Halloween candy. In other words, not well. Investors have pulled U.S. stocks down fairly hard, but have really lowered the boom on sectors (like emerging markets) where risk is perceived to be higher. Fortunately, although we’re giving one stock the axe, many of our stocks are still hold up well. We also have a very young, very hip Chinese company to add to our watch list.
