We own L-3 because it's a good solid stock as opposed to being part of an industry theme play, ... The defense industry has the wind at its back now but most companies don't have the earnings consistency we're looking for.

285

We are not heavily invested in tech and are not likely to be so until we see fundamental progress. We've always selected companies with strong earnings growth and most technology companies don't have that at this point.

212

I can't figure out why people want to own unprofitable companies with no prospect of making money in the near future. That's just trading paper.

196

When you are selling a $20,000 item, it's not unusual to have financing arm.

164

The stock is expensive but you'd expect it to be expensive. We consider it a core holding.

153

At this point, we're watching tech carefully but we are not ready to pull the trigger yet and buy more with this volatility, ... What seems to be consistent is that whoever just went up is likely to get clocked soon afterward.

152

Once you get a more stable environment with a consistently growing economy, that would favor a better return for larger quality names.

131

The real strength in the market in 2003 was from small-cap and mostly busted companies. It was a huge sigh of relief that many unprofitable companies did not go out of business.

98

Some of the worst companies have been the best performers. But a lot of the recovery in the poorer-quality companies was just relief that they survived. We're finally starting to see some better action in the higher-quality names.

92