As the economy stabilizes and eventually moves higher, we believe that current conditions bode very well for lending banks. Furthermore, as the economy recovers we should see an increase in the number of mergers and acquisitions and in turn, more initial public offerings coming to the market. The markets should also start to look better as earnings visibility increases, thus increasing trading volume on the different exchanges. Our long-term view of technology continues to be bullish. We believe that corporations have seen the benefits technology delivers in terms of productivity and competitive positioning.
Technology is now an integral part of our corporate culture.
Short-term we are more guarded on technology. However, recent events may trigger an increase in technology spending in certain sectors as affected companies replace lost equipment and the corporate global community realizes the need to have contingency back-up systems in place. This demand may overwhelm the excess supply that had been built-up in recent years. We believe that in the current environment the best strategy is to own those companies that are capturing market share. In this light, we are buyers of Dell Computer.