We closed our bullish prediction on Chinese A Shares CSI 300 at 3,731 as of December 31, 2015. We were wrong on the prediction, as the Chinese government was not successful in saving the equity markets and the fiscal stimulus plans were limited to boost the economy as well. Currently, we don’t hold any views on the index. Should we form a view again on the index, we will re-initiate another piece to detail our thoughts.

We closed our neutral prediction on S&P 500 at 2,043.94 as of 12/31/2015, -3.33% difference from our prediction. The Fed did hike in December 2015, which is exactly what we predicted. Currently, we don’t hold any views on the index. Should we form a view again on the index, we will re-initiate another piece to detail our thoughts.