The Importance of Maintaining Investment Discipline Amidst Political Dysfunction and Uncertainty

As we write this letter in the first days of the new fiscal year, much of the federal government has shut down for the first time in 17 years.  This situation resulted from Congress failing to pass a continuing resolution (CR) to fund the government for the next several months.  House Republicans have adopted a hard line, insisting that any CR be accompanied by significant cutbacks and/or delays in the implementation of the Patient Protection and Affordable Care Act, conditions that President Obama and Democrats find unacceptable.  To make matters worse, within the next couple of weeks, we...
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