So, for us, a few more key takeaways:
1) We intend to revisit the market's periods of stress in 2014. We want to find the key similarities and differences that were shown during each of the V-bottoms that occurred during the year. To be clear, we're by no means suggesting that we expect the same scenarios to play out in 2015 but this exercise will serve as a learning tool and a way of documenting history.
2) Plainly put, it was a really crappy year for many investors. While key benchmarks like the S&P and Nasdaq performed more than admirably, it was a much tougher go for individual stocks and most other asset classes. This simple observation doesn't really tell us anything other than being on the lookout for future rotation and reversion to the mean types of scenarios.
Take some time this weekend to revisit the trading year. You'll definitely find a useful observation or two.
A happy and healthy New Year to everyone.