There is a personal situation that I want to apprise our clients of, as well as investors that are following the progress of Steadyhand.

I’ve had a long-standing liver condition called primary schlorosing colengitis (PSC). It goes back to my youth and has been monitored for over 25 years. While not normal, it has always been stable and hasn’t held me back in my work or personal life.

Unfortunately, my PSC recently started to act up and is now impacting the condition of my liver. It is not unusual for a PSC patient to “hit the wall” at some point, and I’ve done just that (and my air bag didn’t go off). In essence, my condition has moved into an unpredictable stage and my liver function could deteriorate further.

Over the last two months, Lori and I have done a lot of research with the help of the excellent team of doctors, nurses and other health professionals at the B.C. Transplant Society. To make a long story short, the consensus of the team is that I should get a transplant. Earlier this month I was put on the list for an ‘executive driven’ liver and have been given a pager to wear 24 hours a day (I can tell you, it plays havoc with your sex life). The transplant means I will be out of commission for 3-4 weeks at some unknown time.

For lots of reasons, I feel very fortunate:

• While my health has deteriorated in recent months, I’m still able to function somewhat normally. I continue to work regular work days, and do as much light exercise as my energy will permit (walking mostly). But I’ve missed the sports … including the best ski season we’ve had in years!
• My blood type is A/B which is rare, but significantly increases my odds of getting an organ in a reasonable time frame (somewhere between one day and one year). Unfortunately, many transplant patients in B.C. wait much too long for suitable organs, which is why it is so important to think about becoming an organ donor. As noted in the BC Transplant Society material “There is a far greater chance that we will one day need a transplant than there is that we will ever be a suitable donor.” For those of you in B.C., see www.transplant.bc.ca for more info.
• The outcomes and prognosis for liver transplant patients are excellent. Most recipients report a complete return to health, fitness and quality of life and I intend to be one of them. The odds of surviving a transplant are good for someone of my age and fitness level, which is to say it’s about the same as Steve Nash at the foul line (90%).
• And most importantly, I feel fortunate to have a supportive wife and family, and my friends and business partners have been fabulous.

Now that we have visibility on my situation, Lori, Neil and I all felt it was important to communicate this news to people invested in our funds or following our company. We aren’t sure how often we’ll update people (months could go by with no change). At a minimum, however, we will update you if there is a significant change or event (got liver!).

As for the impact of my situation on Steadyhand and the funds’ investment returns, I am simultaneously posting a separate blog entitled – Bad Liver; Good Money Managers.