“Home of the brave and land of the free”; it’s good to be an American.

Our market-based economy isn’t perfect, but it has elevated so many out of poverty and has provided some of the best living standards in the world. As investors we are fortunate to be based in one of the most dynamic business environments anywhere. Being a broad-based owner in the U.S.A. has been rewarded.

So, thank you, our forefathers, for setting up a free society based upon a belief in and faith in individuals and their enterprise.

Thank you to all who came before us who helped build and defend what we have today; it’s the best legacy ever and one we all need to be grateful for and seek to add to. Happy Birthday, U.S.A.

The Lonely Bull