I sat by the fire, today, reading a pile of annual Christmas letters.  I was multi-tasking, looking for inspiration to write our own 2008 Annual Report while trying to dry out my inner ear. It’s filled with water. I started swimming regularly this past year, figuring if our portfolio was rolling back the Bush years, then there is no better time to also lose our Bush Weight. Soon, we’ll be back to where we were in 2000, and the past eight years of fear and hate will be a distant memory.  While we may very well be living in a global depression, the least we can do is look good while trying to hold on to hope.

Just as we are closing the door in an amazing chapter of our collective history, opening another door to unknown opportunities, 2008 has been a year of transition to new horizons that we look greatly forward to exploring and sharing in 2009.

Warm regards,

Timothy State & Anthony Dornacher

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