As the GGFS Strategic Investment Committee looks forward into 2010, we are certainly optimistic about the future. Although the worst of the financial crisis is behind us, we continue to see challenges ahead for the economy and the markets. Broadly speaking, we believe stocks should outperform bonds in 2010, while commodities and other alternative asset classes will fluctuate greatly all the while remaining in a relatively tight trading range. As some investors look for ways to enhance investment returns and lower portfolio volatility by introducing commodity ETF's or commodity mutual funds into their portfolios, they should exercise caution and make sure to understand the investment strategies and hedging techniques employed by the portfolio managers of these instruments. As the saying goes "things are never as simple as they appear". This certainly holds true when building and managing an investment portfolio. At the risk of sounding self-serving, we strongly believe that all investors should seek out advice and guidance from a qualified investment advisor or better yet, a money management firm who's only job is to manage investor assets.