For the most part, I am fundamentally driven, and believe earnings drive stock prices more than any other single factor. I am as comfortable owning a $200 million market cap company as I am a $50 billion one.In addition, I am constantly reviewing the overall environment for equities, based primarily on liquidity, valuations, and sentiment or investor psychology. Hays Advisory Group uses this framework, and I have been following it since early 2000, when I began managing money on a discretionary basis. I read a number of newsletters and equity strategists such as David Rosenberg at Gluskin Sheff & Associates, Whitney Tilson at Value Investor Insight, and also have an extensive network of other professional money managers, several of whom have over 30 years of industry experience. Meanwhile, SodaStream International (Nasdaq: SODA) delivered its second consecutive disappointing quarter. This one is on a very short leash. DISCLAIMER: The investments discussed are held in client accounts as of May 31, 2013. These investments may or may not be currently held in client accounts. The reader should not assume that any investments identified were or will be profitable or that any investment recommendations or investment decisions we make in the future will be profitable. Past performance is no guarantee of future results.
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