Today, I repurchased Dolphin Capital Investors, after I made an exception in selling it after the Cyprus news.  Since then, we have seen (relative) stability in Cyprus, and the sale of Dolphin's interests in the Venus Rock resort to a Hong Kong investor.  This is a validation of the thesis that a non European market for Dolphin's assets still exists, and of course, brings a big lump of cash to the company that can be re deployed into the other developments.  Q1 NAV updated is expected next week.  This holding is now around 7.5% of my portfolio.  I will possibly be further re organising the portfolio shortly.  I am looking at a rights issue situation that looks compelling, and some of my holdings are looking a lot less attractive, in terms of potential upside.