I think a few words from you regarding how we protect against losses would be in order. Otherwise one can look at long term value and buy small undervalued positions when there is a vertical drop unrelated to that particular investment. This with a measured portion of the overall portfolio. The remainder will remain in a fairly defensive posture for now. I am most interested now in our research into socially beneficial fixed income opportunities. More on that as our research grows.

G. Benjamin Bingham
September 7, 2007