Scott Devitt Time Quotations

These businesses are not meant to be managed on a quarterly basis but people take quarterly results and extrapolate them to come up with a long-term value for the stocks. You have to look at them with time horizons of two or three years, not two or three months.

In our opinion, it's not time to become a holder yet, but certainly the shares are more attractive in the mid-$US300s than the mid-$US400's.