We are in CA so finally have some time to relax and catch up. Just spent a half hour or so going through the entire year and am once again so impressed at the way you are able to capture these issues in a way that makes them understandable and so very thought-provoking. It also was interesting to see the evolution during the year; seeing one at a time makes that much less evident. Ed
Dan Nott 
Dear Dan:
We are in CA so finally have some time to relax and catch up. Just spent a half hour or so going through the entire year and am once again so impressed at the way you are able to capture these issues in a way that makes them understandable and so very thought-provoking. It also was interesting to see the evolution during the year; seeing one at a time makes that much less evident. Ed