19 November 2009
Dear Fellow Investor
I am always on the lookout to find out if there are any parts of the investment universe that are undervalued.
I do not have the resources or time to be able to do such analysis and thus rely on a few fund managers and market commentators I have come to respect.
I read their commentary and try to combine what they have said or written to form my own picture.
Usually one or two of them have ideas that I investigate further but its usually not all that clear as to what is undervalued.
The recent third quarter commentaries was however so clear as to what is undervalued that it was hard to miss.