I hope everyone had an incredible holiday. Our family was blessed with mountains of worthless plastic toys and sugar. It is the most wonderful time of the year. Now we are in the doldrums between Christmas and New Year, where people are supposed to be working but are not. Despite the reluctance to jump on a call, I was happy to round out a syndicate for DWP Capital’s newest investment opportunity- more on that coming later.

Two things are an immediate priority as of right now, business-wise. One is to get this new deal closed, hopefully in the second week of January. The second is to get my annual letter written and sent out. I dread the latter as my outlook for the market was so dead wrong that I am hesitant to make predictions again this year. Someone once told me, however, that as an investor, you must have conviction. I believe that.