I hope this memo finds you well, happy and content during the fullness of the summer season. In general, our views are sanguine. We remain invested in the high technology, pharmaceutical and energy areas. We continue to hold substantial cash which we intend to put to work during periods of market decline.
While we expect progress in the second half of 2000, we see crosscurrents which will produce progress but not smooth sailing. Some areas where we see these crosscurrents are:
Area I – Inflation
Potential problem – Commodity prices have bottomed and are turning up, labor is in . . .
Continue Reading: July 5, 2000
