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Comstock Partners, Inc.
Happy Holiday Season
December 23, 2003
To: Charlie & Marty, I know that many of your faithful readers regard you as dedicated bears, but I know your real identity and your avowed purpose... You are insightful, perennial realists who relish publishing information and forecasts based on factual analyses that put most contemporary market forecasters to shame. Your twice-weekly reports are like a breath of fresh air in a sea of financial gibberish masquerading as common-sense investment advice these days. Bravo, keep up the good work! I wish you both a happy holiday season and a productive New Year filled with continued success in what you do best.

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