Hugh Cleland Update
Most of the letter was devoted to coverage of Webtech Wireless and Neptune Technologies. However, he closes with:
In any event, I expect our core positions (all of which are proving their “secular growth characteristics” quite nicely in this ugly recession) will all have had a strong 2009 by the time we get to December 31—even Vendtek and Intelgenx (which I will address in the next letter).
Thank you again for your patience and trust, and know that I am working hard to catalyze the value that I believe is being created by the companies in these portfolios. (Recent trips to Vancouver, Montreal and New York were all taken with that goal in mind!)
If you want to read the entire report, here's the link:
https://www.northernriversfunds.com/assets/downloads/Cleland_May_2009.pdf