This is the commentary from legendary investor Jean-Marie Eveillard: "Sometimes when investing seems most scary it's the best time to invest. This may be one of those times."
We increased our hedge on the Japanese yen to 30% in the fourth quarter from 0% in the third quarter though we still believe Asian currencies should ultimately be revalued against the U.S. dollar. We decreased our hedge against the euro to 60% in the fourth quarter from 65% in the third quarter.
We are focusing on the types of companies we always have--a combination of “cigar butts” (as Warren Buffett called Benjamin Graham-type stocks) and some truly exceptional businesses trading at appealing prices. Sometimes when investing seems most scary it's the best time to invest. This may be one of those times.
Read the complete commentary
We increased our hedge on the Japanese yen to 30% in the fourth quarter from 0% in the third quarter though we still believe Asian currencies should ultimately be revalued against the U.S. dollar. We decreased our hedge against the euro to 60% in the fourth quarter from 65% in the third quarter.
We are focusing on the types of companies we always have--a combination of “cigar butts” (as Warren Buffett called Benjamin Graham-type stocks) and some truly exceptional businesses trading at appealing prices. Sometimes when investing seems most scary it's the best time to invest. This may be one of those times.
Read the complete commentary
