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Hi Doug,

You asked for comments on the fate of the L'union Port.

For many years, even before discount brokers and their low fees, I made it a point to sell all my holdings on a reasonably regular basis and stay in cash for a week or two.

I did this so that I could start with a clean slate. If I thought that one of the issues I had sold offered potentially greater returns than other candidates, I repurchased. To be honest, I did not repurchase the same issue all that often.

With today's low commission schedules, and capital gains after only one year I generally clear my portfolio out on a yearly basis.

Long term buy and hold has its place, particularly for very large portfolios, but I believe we can get better returns by more actively managing our accounts.

My suggestion would be to sell all L'unions's portfolio and start anew. We may even wind up with many of the same issues now held, but we will have justified again our reasons for owning them



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