We are currently proceeding through an extremely negative
emotional environment for serious long-term Canadian investors of common
shares. Important factors impacting decision making include the Toronto
SARS scare, the fallout of Canada's non-participation in the Iraqi War, the
uncertainty of the Iraqi War aftermath, worldwide economic confusion caused by
SARS, etc.
Although perhaps easier said than done, we believe
investors should focus instead on the merits of individual common stocks as
opposed to the growing emotional crescendo of the present "Chicken
Little" paranoia. Overall, we believe these serious investment concerns
will eventually pass. |
