We are not happy with the performance of the markets, not unexpected given our last Quarterly Newsletter; but certainly, we are not happy to be correct with the markets thus far in the year.
From the glass half full standpoint, had the markets not dropped in the manner we have seen, much of the recent less than respectable folks in the investment community would have never been discovered. This is a cleansing process, not fun, and a lot of fire for the negative stories, but very much a cleansing process for the investment community.
We will emerge, stronger, safer, and with a solid foundation for the future.
Does this mean more paperwork for us in the future? Sure, but that is a small price to pay to prevent some of the less than honest events from recurring. Glass Half Full! Patience… JK