Subject: File No. S7-25-06
From: James M. Russell
Affiliation: Retired President Allegany Co-op Ins. Co.-responsible with board for investments

January 27, 2007

Dear gentlepersons,
I attach a copy of an article by John Mauldin that conveys my thoughts very well. I feel it is unfair and inappropriate for the smaller invester to be deprived of the choices available to only the rich in the U.S.
Thank you for your kind attention and concern.
James M. Russell

Comments attached