Simon discusses the current transitional, consolidation phase the stock markets appear to have entered. He talks about the market and economic backdrop and how WIG is positioning portfolios. He also decries the healthy percentage of investors who, according to recent data, sold all their stock at the lows in March. While such sweeping sell decisions rarely make sense, he offers some reasons when selling is rational at both the portfolio and individual security level. He also reviews some of the recent promising developments at Facebook.