In any period of change there are winners and losers. Some react with fear and loathing, others with enthusiasm and hope. We have a choice which stance to take. In the investing world, we see that uncertainty can diminish confidence and cause stock prices to weaken, even those of high-quality companies. But it can be during times of uncertainty that rational investors have an opportunity to take advantage of temporary weaknesses. At Sionna, we are mindful of challenges, but focus our energies on the potential opportunities.