I extend my sincere wishes to all readers of this blog for a wonderful new year and new decade. May 2020 be full of good health, joy, and auspicious harmony.

One year ago today, I braced myself for a dicey 2019. The prior year had been exceptional, with a couple new investments and a couple nice exits from the portfolio. My trepidation for 2019 was proven wrong. On the contrary, 2019 turned out to be another incredible year for the portfolio (more on this soon).

Now as we embark on a new decade, extending our longest bull run in my memory, I have to confess that I am wondering when the music will stop. I expect to continue the usual methodical investment pace, but in parallel I am also encouraging all of my startup companies to keep their contingency plans up-to-date.

Recommended song of the year: Rat in mi Kitchen, by UB40

Recommended book of the year: King Rat, by James Clavell