The principal sources of our returns (and risk) are security selection, the acceptance of
aggressive investment positions during market climates characterized by both favorable valuations and market action, and the acceptance of defensive investment positions during market climates characterized by neither.
In contrast, the recent «bull market» (probably better viewed as an upward correction in an ongoing secular bear market) started at valuations too rich to justify
an aggressive investment position.
Not exact matches
At an
investment conference in May, Ackman explained that his long
position in the pharma firm stemmed from his belief that Valeant's
aggressive acquisition style — and the outsized returns it had so far produced — made the company akin to a younger version of Warren Buffett's Berkshire.
While that would benefit our existing
positions, our current
investment stance is not
aggressive in any event.
I have been more
aggressive in adding
investment positions.
The Bisrams are in an unusual
position: because they adopted Moechia when she was nine, they're starting her RESP halfway through the usual
investment horizon and aren't in a
position to be
aggressive.
Its leadership
position in the menthol segment,
aggressive Newport strategy and emphasis on returning cash to shareholders make it a good
investment.