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The last few weeks have probably seen the worst market action in over a year, and the same holds true for our Current Portfolio, which has been pretty well tattered. And, obviously, we did not close any positions during this period.
A few months ago, the markets were much healthier despite rising interest rates, climbing energy prices, and a steady dose of Iraq on our TV sets 24/7. Like now, we even had a slew of good to great earnings and economic news. So, without sounding like a broken record, we still feel that the major drag on the markets is the uncertain political situation. The markets are not in love with Bush, but he has become a known commodity, while Kerry has many market pros very very worried. We had been outright bulls for the coming summer months, but as Dubya keeps sinking in the polls so does our enthusiasm.