A: Again Apple is a great example. When the first iPod came out, browsing the Internet and visits to all music stores revealed that this was going to be a really big phenomenon and we thought the market was greatly underestimating the long-term growth outlook for iPods. Furthermore, we felt that iPod, being such a good integrated software package, would stimulate growth of iMac. Thus, we had a proven winner like Steve Jobs in the company, an excellent product and an attractive valuation. This is the kind of dream situation that gives great confidence.

Research in Motion is an example where despite the fact that stock price dropped after a patent litigation, we still maintained confidence in that stock. In fact, it has been our largest position for the last two years. We were Blackberry customers and we realized that they were indispensible to our business. We realized that we were cutting edge in terms of using it and felt that there was a market that currently had a million subscribers which could grow to over 50 million subscribers in ten years from now.