As we have worked together over the years it has been human nature to get to know each other better. For you it is probably obvious that we enjoy laughing at humor of all kinds, including cringe creating puns.

Nowhere is it written that the Joy and Seriousness of the Christmas season precludes sharing jokes, silly or eye-rolling or knee-slapping, so here are two of our favorite cartoons. We’ll bet that because he was human, Jesus would laugh at them with us, maybe over a glass of Pinot Noir.

As for the investment scene: Of course, like you and so many others we will be enjoying this special time with family and friends, but that does not preclude us performing our fiduciary responsibilities. We’ll be watchful for opportunities—often presented by tax selling—to acquire more Great American Companies and, of course, also watchful for our favorite secular gift giver, Santa Claus.