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It appears that many investors might be losing their
stamina and conviction for the stock market. This fact is partly a result
of the continued stock price volatility, the Enron and Arthur Andersen affair
and the uncertain corporate earnings outlook.
We believe, however, that investors with solid conviction,
patience and focus -- particularly of well-researched and undervalued securities
will do well in the long run. While it is unfortunate that many investors
today are demanding instant gratification, we continue to believe that patience
and courage of one's convictions will be key factors of investment success over
the next 12 months. |
