Message Font: Serif | Sans-Serif
 
No. of Recommendations: 15
http://www.gurufocus.com/news/236339/tweedy-browne-investmen...

"So where does that leave us today? We are a bit out of step. Our cash has been rising at a time when we read of more money wanting to get into the market. To the extent that markets keep rising, our cash will more than likely cause our Funds to underperform relative to a benchmark. We would like to beat our competitors, including the benchmark, every day, but we know that is never going to happen. We think of ourselves as being in a marathon, not a sprint. We don't consider cash as a market prediction, but rather as an outcome of our assessment of the valuation of each individual security we own. We like to think of cash as "optionality" in the portfolio, rather than a drag on returns. As a practical matter, we are no more than a handful of investment opportunities away from being fully invested, and past history suggests we will have those opportunities again. Markets don't move in a straight line, and there are many uncertainties in the world which could upset "investors." We believe a little patience will be rewarded."
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.