GRADUATIONS ARE not only a time of celebration and transition, they are also a time for reflection. The invitation to speak to you today has allowed me an extended period of reflection, and the task has borne down on me both as a wonderful opportunity and a heavy weight for several reasons. I greatly admire your accomplishments. I am deeply grateful for the care you have provided your patients and the stimulation you have provided your teachers. I look forward to the future leadership you will devote to pediatrics. It seemed an almost impossible challenge to have anything to say in these final moments that will add to the rich experience we have already shared.