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Hope all goes well. Big wk in Santa Barbara. May inflows are strong. Managing over $800mm now. And in our industry, where trillions change hands everyday, it’s easy to lose sight of a number like that. But truth is, it’s a mountain of trust and faith that some of the world’s best investors have placed in our hands. We’re humbled, real grateful. Overall: Mara woke me at 3am. Wanted to share an intimate moment. We snuc

Hope all goes well. We gathered Fri as an Investment Committee. Having mkts closed for 3days helps you relax, open the mind, be more objective. Plus a new friend visited, it’s pretty busy here in Santa Barbara.  Overall: What busy bodies we are. Just can’t help ourselves. Oh well, we’re Human. The British sent advisors to Libya, guess yelling orders at Mach 2 got old. And while the rebels don’t speak great English, t

Hope all goes well. Toured NY. Met 22 firms. Reminded me of my recent tour of Switzerland. And Texas. And St. Louis. And London. And Canada. And Miami. Why? Fellas want to talk about all the problems in our world. In these travels, haven’t found a raging bull. Not one. The globe’s filled with very nervous longs (and plenty of bankrupted bears). Overall: Those shifting plates beneath Japan won’t stop. And it ain’t jus

Hope all goes well. Had one of those Yin-Yang wks. Baby Charlie drooled in my mouth, gave me the flu, Mara and I moved house, I threw my back out. But the USD had an even worse time than I, so our portfolio blossomed. Life’s like that, right? I’ll take it. Overall: Yawn. Boring. Same stuff. The US Dollar extended its inexorable decline. Pretty much everything you can buy with devalued Dollars extended an inexorable r

Hope all goes well. Spring’s arrived. Migration’s in full swing. The S&P headed north, the USD south. Animal spirits are rising, it’s the season furry fellas get frisky. Of course, if you got no job, underwater mortgage, sleep on glowing tatami mats, drink Guinness, Sangria, etc, it’s still chilly. But those are worries for another season. Overall: Sadly, one-way bets are a rare find, usually got a short shelf li

Hope all goes well. Raised in NYC, live in CA, I’m a libertarian swimming in a deep sea of electoral Blue. Toured Texas this wk, met lots of fine folks in that Red state. Figured the Cowboys woulda been game for blasting Gaddafi from a Dark Age to the Stone Age. Wrong. No one’s got a clue why we’re there, or what the endgame is. All want out fast. Overall: Just took a little pinprick, and now we’re Comfortably Numb.

Hope all goes well. Spent some time focused on my kiddies this wk. Wasn’t alone. Prime Minister Kan led his children through an almost comically crowded pool of angry black swans. The G7 punished childish currency traders for front-running the flow of money back to Japan. The Libyan madman showered his errant children with tough love, then sent a touching note to his son in the White House. The Germans (and French),

Hope all goes well. Watched the sad footage, the hopeless flight of tiny creatures, chased by a monstrous wave, summoned by a capricious planet. Moments later I pierced the Zurich clouds, marveled at the heavenly Alps. Pictured the tiny creatures ascending those famous peaks, tempting fate, striving for higher ground. Said a quiet prayer for the low, the high, and everyone in between. ’Cause in life’s fleeting flight

Hope all goes well. Closed a big new investment for April. Booked a solid wk in Switz, fly out tonight, feels like the glaciers are melting and want to drink from that Alpine flow. Overall: Markets hate uncertainty; and that’s the only commodity not in short supply these days. With bulging deficits, oil at 29yr highs, recovering economies, and talk of easy-money exit strategies, investors are edgy. So leaders cut the

Hope all goes well. I’m off to NY for cold weather & warm friends. Was thinking about heading to the Middle-East but figured I’d wait till the boys change the names on their business cards. Mkts were a bit kinder this wk. China’s Renminbi finally rallied. So did Turkish Lira, Brazil and India. US short-rates softened. Overall: On a dark Mar ’09 morning, the world gazed intently into the rear-view mirror. Oh the H