We’re pleased to present our first quarterly commentary on the Gavekal Knowledge Leaders Indexes, the intellectual property behind our new strategic beta products. As a data driven firm, we spend significant time working with data, from sourcing it to scrubbing it to identify Knowledge Leaders, to thinking of creative ways to present it in such a way as to improve our chances of identifying trends. Each quarter in this report, we’ll offer our analysis on the indexes, the equity and fixed income markets, commodities, currencies and economic indicators. You can download the report at the link below. We welcome your comments and questions.