When I last wrote to you in June, previous turbulence in the markets had subsided and we were hitting new highs. This is despite the turbulence on the geopolitical front, which has only magnified in the past months in the Mideast, Ukraine and elsewhere. Of course, the situation here at home has been incredibly challenging as well, as we head to uncertain results in November. Yet the public markets continue to hit new highs, recently boosted by a 50-basis-point reduction in interest rates announced by the Fed.