No. of Recommendations: 3
> One of GG's challenges was the constant turnover in advisers.
> When first Bill and then Tim were drafted into asset management
> it suggested GG was a farm club designed to provide talent to more
> lucrative activities.

These events shook my confidence in Global Gains. I mean no disrespect to Nathan and Nate. They have done a tremendous job. Nevertheless, it was discouraging to see Bill and Tim leave behind their (sometimes colorful) recs to be followed by other advisers. It subtly undermined my trust in these recs, and in the Fool's commitment to GG.

The growing number of Euro blue chip recs also did not help. Companies like Henkel, Novartis or Nokia are front page material where I live (Germany). Even by American standards, these are well-covered businesses. I had hoped for something different: stocks from around the world that I would not think of, and would have trouble following by myself. This is what drew me to GG, and this is what kept me around. But it became a smaller and smaller portion of the service.

So, I have sold the companies that I feel are close to fully valued, or am not comfortable in following on my own (BIP, CCH, CCSC, CLPHY, FHCO, PVD, RDY, TLK).

I am holding on to BLX, COSWF, PDS, SCPZF, SYT and YUM. All solid long-term plays on trends that I am following.

Finally, I am keeping CGA and YONG. Mostly for education and amusement, only very speculatively for enrichment. I need to see how their story plays out. My positions have become very small over time, and it will not hurt me too much if they go to zero.

> Thanks to all for the conversation. The dialogue was always the most
> interesting part of GG.

Well said. I rarely contributed, but frequently read the boards. And I found them to be something truly special. Very high quality discussions, diverse and well-argued. And the interaction with the advisers was outstanding.

Sad to see all that go, but I'm sure I'll meet you on the other side.

V.
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