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Market Outlook 2009

Every year LPL Financial Research compiles its Outlook for the following year to let investors know where we believe the markets are heading and how to best position portfolios. The heightened uncertainty and conditional nature of the current macroeconomic and policy backdrop generated a wider range of possibilities for 2009 than for most years. As a result, we present three scenarios for 2009, our base case, a bear case, and a bull case.

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