European Capital immediately understood the investment thesis and acted quickly to complete the transaction. We are impressed with their flexibility and hard work.
Wal-Mart continues to show strong momentum and operating performance. Its food and apparel sales did well, which fits in with our thesis that Wal-Mart is really taking on the supermarkets. By adding new apparel name brands like Levi's, I think it's in a position to see tremendous success in apparel too.
I don't know if college actually changes your viewpoint; it just gives you more depth. There is actually a theory called the reinforcement thesis, which says that people acquire a mental lens or filter at a very young age. As you get older you tend to accept more readily the information that reinforces that view and reject information that contradicts it.