we regret to report a return of –86.25 pct for the month, which brings our total return for the year to –95.83 pct and to -89.63 pct since inception.
At first I was afraid, I was petrified.
Kept thinking I could never live without you by my side.
But I spent so many nights thinking how you did me wrong.
And I grew strong. And I learned how to get along.
Ebullio Capital Management LLP is also strong and has, as a token of confidence in the future, waived its 2 pct management fee for 2010
And so you're back, from outer space.
I just walked in to find you here with that sad look upon your face.
I should have changed that stupid lock,
I should have made you leave your key.
If I had known for just one second you'd be back to bother me...
Lessons have been learned from this and the challenges that have caused this draw-down have been brought under control and cannot impact us again going forward
Go on now, go. Walk out the door.
Just turn around now, you're not welcome any more.
Weren't you the one that made my money go goodbye ?
But did I crumble ? Did I lay down and die ?
Oh no not I, I will surviiiiiivveeee....