01.29.14

Hi Folks,

I want to update a few issues and share a few thoughts.

Assumptions:

Hope is not a strategy. Hedging prevents losses. I don’t like hoping for a stock to rebound. Hope is for religion, weather, gambling, horse shoes, and the Super Bowl outcome. 

1. Our holdings are strong. Many possess a catalyst for upward movement. 

2. Any name that has weakness – and we can sell and own an improved position – will be replaced.  If our portfolio can be improved – then that’s the action I’ll take. 

3. We have hedges for market weakness. 

4. OCI Partners LP (OCIP) bounced today as it benefits with lower natural gas; and higher methanol prices. Methanol is pricing extremely well right now. 

5. Position without hedges cause panic. Thus I hedge. 

6. The emerging markets are causing a few hiccups in the market place. 

7. There are a few changes I want to make – and will send those out.

Thanks & please feel free to ask any questions on the forum.

Todd

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