In February 2000, Sacajawea & Company, LLP felt strongly that the equity markets were badly out of balance. To reassure our clients we wrote our first ever Client Letter to share our opinion with all of our clients. The next letter came nine years later when the markets were again badly out of balance. We have since increased the frequency of our letters, writing an annual letter the past few years. These letters are intended to give our clients some insight into topics that interest us at the time.