The U.S. has significant debt and deficit problems to solve. Our take is that the solutions will come, but most likely in a series of partial remedies developed over time. Any actions that reduce the budget deficit will, by definition, remove fiscal stimulus and thus be a drag on the economy. However, deficit reduction is necessary and the negative short-term affects will be positive for long-term business values. If the specific "fiscal cliff" actions are actually triggered on January 1, we would expect squeals of outrage and market volatility, but no lasting damage. We have large cash reserves available to take advantage of any near-term weakness, and we believe our portfolios are in position to cope with any of the potential "fiscal cliff" outcomes that we can envision.
- Wally Weitz
Investors should consider carefully the investment objectives, risks, and charges and expenses of the Funds before investing. The Funds' Prospectus or Summary Prospectus contains this and other information about the Funds and should be read carefully before investing. Remember that there can be no assurance that an investment objective of any mutual fund will be achieved. Portfolio composition is subject to change at any time and references to specific securities, industries and sectors are not recommendations to purchase any particular security. Current and future portfolio holdings are subject to risk. A Prospectus or Summary Prospectus and additional information are available from Weitz Funds, 1125 South 103 Street, Suite 200, Omaha, NE 68124-1071, weitzfunds.com, 800- 304-9745, 402-391-1980. Weitz Securities, Inc. is the distributor of the Weitz Funds.
- Wally Weitz
Investors should consider carefully the investment objectives, risks, and charges and expenses of the Funds before investing. The Funds' Prospectus or Summary Prospectus contains this and other information about the Funds and should be read carefully before investing. Remember that there can be no assurance that an investment objective of any mutual fund will be achieved. Portfolio composition is subject to change at any time and references to specific securities, industries and sectors are not recommendations to purchase any particular security. Current and future portfolio holdings are subject to risk. A Prospectus or Summary Prospectus and additional information are available from Weitz Funds, 1125 South 103 Street, Suite 200, Omaha, NE 68124-1071, weitzfunds.com, 800- 304-9745, 402-391-1980. Weitz Securities, Inc. is the distributor of the Weitz Funds.
