Merry Christmas from QIS Capital
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Posted: Thursday Dec 27 6:50:41PM 2007
And a Very Happy New Year.
Thanks for getting this thread going. I have been quite impressed by the depth of knowledge submitted by most of the posters and also the politeness exhibited by all.
Posted: Thursday Dec 20 11:11:08PM 2007
A Merry Christmas and Happy New Year Doren to you and all at QIS. Thanks for providing us with a great site to exchange ideas so that we can become better investors/traders.
Posted: Thursday Dec 20 4:20:26PM 2007
I would like to wish all of our subscribers a very Merry Christmas and a Happy and Prosperous 2008! May the spirit of Christmas bring you and your families much joy this holiday season.
I think it would be an understatement to say that 2007 was a challenging year for many investors including QIS Capital. I believe one of my colleagues at Microcap said it best when he stated, "I like to think this is a classic opportunity to buy at rock bottom lows while market depression is at its peak... buts its tough catching a falling fridge!" Tax loss selling has been pronounced for stocks that have fallen throughout the year while investors are also apt to sell their winners to provide liquidity to their portfolios that have suffered due to a myriad of losers. The result is a significant lack of buying in the small-cap markets while selling pressure continues unabated.
There are several pressures that I believe will continue into 2008. The credit crisis is far from over while we have mounting pressures on the US housing market and economy. Commodity prices moved significantly in 2007 which increases the risk of a significant pullback. At the same time, market capitalizations in the public market have not responded to any real extent to record high oil, gold, metals, and food prices. A deterioration in the pricing of these commodities could lead to further decline in corporate valuations. Currency fluctuations, pressure on labour forces and salaries, and inflationary pressure on other costs will likely continue to impact the earnings ability of Canadian corporations. On the positive side, astute investors with cash reserves or those just entering the markets should find ample opportunities to invest in value plays. We have identified several oil and gas producers trading at under 2 times cash flow (a historical low at the bottom of the cycle) along with attractive valuations for mining producers and several industrial companies that have continued to post positive financial results. Once we are able to improve liquidity in our own portfolio, we look forward to taking advantage of some of these opportunities.
QIS Capital is making several changes to its website and email updates to improve and increase services to investors. We are also putting the final touches on our Spring Symposiums for The Small-Cap Conference along with our major conferences in the Fall of 2008. More information on these conferences will be available soon on The Small-Cap Conference website. Early in the New Year we will be highlighting the many changes to QIS Capital as we look forward to an expected volatile yet exciting 2008.
Again I would like to thank our investors for their support during 2007 and wish you all the best this Christmas season.