Perhaps no question is more critical for investment management than the future of equity markets. Mr. Arnott presents recent research indicating that, for an array of reasons, the recent occurrence of difficult markets is likely to continue. This webcast presentation discusses additional research that explores how demographics are likely to affect the markets and the investment management industry. The presentation concludes with a synthesis of the various studies intended to show how asset managers can still find ways to prosper without putting their own interests ahead of the interests of their clients.