| Dear Friend,
It was a boring final week to 2021, with the Composite inching lower. Boomer's Revenge and Honey Badger notched small gains, while Rising Tide put in a final disappointing week.
We enter 2022 with four portfolios using underlyings that collectively had a solid year. We discuss that and why we're excited about 2022 in the report. Enjoy.
Happy New Year! Stay safe.
Terry
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