Be careful of leverage. It can go against you.

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

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

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

My job was to find stocks that were undervalued.

Before selling, try to re-evaluate the company again and see where the stock sells in realtion to its book value.

Making a decision to sell is the most difficult thing we do.