Presently, the securities market is fraught with excessive fear, uncertainty and extraordinary price volatility. Investors’ nerves are frayed and their conviction is being severely tested. Worldwide financial issues such as banking, corporate and even government solvency concerns are depressing common share prices and valuations. Nonetheless, we believe, a number of selective stocks are simply dirt-cheap. In spite of the current chaotic market conditions, it is our opinion that investors with a 12-18 month time horizon, patience and resolve, will eventually achieve exceptional investment performance. The present escalating market stress of the disciplined and opportunistic stock picker is a shorter-term phenomenon. It is our belief that as market conditions and investor psychology improve today’s diligent analytical efforts will pay off immensely.
|
