Friday, April 21, 2006

Wallace Weitz; Be prepared April 21, 2006

Wally Weitz wrote in his shareholder letter: "We continue to believe that excessive credit creation and speculation in both real estate and securities markets will cause some anxious moments, at best, and possibly some serious financial distress for the stock market over the next few years. We are not cheering for trouble, but we think it is important to be prepared, just in case. So, we have continued to focus our portfolios on companies with strong balance sheets and managements that are flexible enough to deal with both favorable and hostile business environments. We offer no predictions about the next few quarters, but we feel very optimistic about the long-term prospects for the companies in our portfolios."

To read the complete letter

Thank you GuruFocus for this link.

All the best,
Dah Hui Lau (David)

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