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VALUE CHECK - JULY 26, 2002
With the incredible decline and volatility of common stock prices over the past month, media headlines have spawned growing investor fear and confusion.  In consequence, it may be very difficult to blot out a budding "chicken little paranoia" which is now starting to permeate the securities marketplace.  Regardless, we believe it is of paramount importance to focus on corporate fundamentals and investment disciplines.  Overall, we believe this difficult period is transitory and will prove to be an excellent buying opportunity -- perhaps even the buying opportunity of this young decade.

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