Despite the long anticipated FOMC decision to raise interest rates and the increase in volatility that returned in earnest during the fourth quarter, the S&P 500 managed to gain 7% for the quarter and finish the year marginally positive. The Intelligent Index Model Portfolio finished the quarter positively as well gaining 4.4%. But the weakness that persisted in the small cap indices resulted in the Model Portfolio finishing slightly negative for the year. Below is a breakdown of the relevant indices:1
