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John Keeley Comments on NCR Corporation
Posted by: Holly LaFon (IP Logged)
Date: February 5, 2014 10:56AM

NCR Corporation (NCR) was the Fund's largest detrac tor during the fourth quarter, falling over 14 percent and detracting 25 basis points of return . The nancial technology company delivered a slightly weaker than expected quarter t hat surprised us as well as the Street. They reafrmed guidance which implies a strong fourth qu arter and suggested that cash ows will continue to be cautiously managed. Since we like th e business and valuation, as well as the improved balance sheet, we are inclined to stay the course.

From John Keeley (Trades, Portfolio)'s Keeley All Cap Value Fund fourth quarter 2013 commentary.




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