When you buy a depressed company it's not going to go up right after you buy it, believe me.

You have to have patience in this field.

Price is the most important factor to use in relation to value.

If there are not too many value stocks that I can find, the market isn't all that cheap.

I'm a passive investor. There are people who are very aggressive; they try to buy companies.

We basically followed the idea of buying comapnies selling below working-capital - at two thirds of working-capital.

Our average holding period is four years.