Okay, I have to confess that I have been reading the Skënderbeg report for a long time. I have met both Bruno and Miranda at various conferences, and yes they look as young as their photos (which are at the end of the attached PDF.) They run a fund of hedge funds. The first few pages are an analysis of the state of the hedge fund industry, then they get to the meat of the matter. They provide charts and graphs of all things bearish. You should probably remove sharp objects from your immediate vicinity. Further, they will probably offend at least half of my readers with their somewhat biased view of American foreign policy. But I find the overall work enlightening and entertaining, and some of the charts are downright fascinating. I would appreciate your feedback as to whether you think this is too much over the top or you like this type of letter.