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EDOUARD CARMIGNAC'S LETTER

EDOUARD CARMIGNAC'S LETTER

   Dear investor,

   The extreme volatility in financial markets we have seen this year may have left many of you feeling bewildered, along the lines of what Bob Dylan described so eloquently:

"It’s getting dark, too dark to see, I feel like I’m knockin’ on heaven’s door"

   In light of the many uncertainties now facing us, it is understandable to be alarmed. However, upon closer analysis, these uncertainties stem from three factors that could end up being less disruptive than feared: Read more