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Chou Funds 2006 Annual Report

Submitted by admin on Sun, 03/18/2007 - 01:02
The Chou Funds 2006 Annual Report is out. Francis Chou of Chou Funds has average month-end cash balance of 37%. Chou chose to maintain cash because he was not able to find investments meeting his Margin of Safety criteria. He continues to have problems finding compelling bargains in the marketplace. Not only are the P/E ratios and price-to-book values still high, and dividend yields low, relative to historic valuations, the number of companies that are underpriced is at an all time low. Francis Chou cautions all investors that their chances of a large permanent loss of capital are high if they invest in today’s market leaders at current prices.
 
 
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