I can think of at least six important reasons to invest outside the United States -- Top performance... Lower portfolio volatility... Currency diversification... Protection from professional liability and other claims... Enhanced privacy... Safety and security..." MORE>>

Unfortunately writing this report has been like trying to hit a moving target. Every time one entertains the hope that things have stabilized one is proven wrong. In the wake of the attacks of September 11, 2001 governments have stepped up their attacks on political and financial freedom, seemingly with an eye towards ending both as we have known them within our lifetimes. Our attempts below to summarize the current situation cannot replicate the impression obtained from following the news and seeing the ongoing stream of repressive measures introduced. MORE>>