The views expressed are as of March 2012 and are a general guide to the views of Brown Brothers Harriman ("BBH").  The opinions expressed are a reflection of BBH's best judgment at the time this interview was conducted and any obligation to update or alter our views as a result of new information, future events, or otherwise is disclaimed.  Furthermore, these views are not intended to predict or guarantee the future performance of any individual security, asset class or markets generally. 

Market data is based on the S&P 500.  The S&P 500 is an index of the 500 largest capitalization stocks in the United States, and is generally considered a representation of the US economy. Indexes are unmanaged and unavailable for direct investment.

Securities mentioned were held by BBH portfolios as of March 9, 2012.  Information discussed during the interview should not be relied on in making investment decisions and should not be construed as research or investment advice.  Portfolio holdings may not be suitable for all investors, and nothing herein should be considered a recommendation to purchase or sell any security.  Investment decisions reflect a variety of factors, and we reserve the right to change our views about individual securities at any time.