TWST: Would you tell us about some of the companies that you feel are representative of your investment approach and the reasons why you found them attractive?
Mr. Simon: On the large-cap side, we go through a strict screening process. It's not going to be as much about a story; it's more about the earnings momentum and the quality behind it. On the large-cap side, our most recent purchase was Visa (V) and we sold State Street (STT). State Street had made a significant recovery from the low point during the financial meltdown. On the positive side, we were able to reap all of that upside. Unfortunately their latest earnings report had indications that their recovery was not as strong as we had hoped. The momentum was starting to shift to the negative and it was time to sell.