In last year's annual letter I broke tradition and wrote a piece full of predictions. Of the predictions, most of which were longer term in nature, some have come true already, others will take more time, a few will not come true. So, as time sorts out of what I said a year ago, we will take some time to review what went on in 2010 and how that will impact us the next few years. But first, take a second to reread my January 2008 letter where I warned "I believe that the problems at Bear Stearns are the tip of the iceberg regarding problems that are likely to emerge in the financial sector." If you never read that letter, now would be a good time because some of the things I am going to say will be very challenging and that letter will help you understand my perspective.

Hello, you must be a registered user of this website to read Kirk's letters and special reports.

Please login here - or - register for access.