In his recent 2022 Annual Letter, Terry Smith explained how sometimes good companies, with solid fundamentals, get taken down in a meltdown, together with their underperforming counterparts. Here’s an excerpt from the letter:
Our highly valued and technology holdings did not fare as poorly as some of the companies which had significant market values but no profits, cash flows or in some cases even revenues. Here is a table which shows those companies in November 2021, roughly the peak of the market:
This may seem cold comfort and to quote an old adage, ‘When the police raid the bawdy house even the nice girls get arrested’. But looking back to the example of Amazon over the Dotcom meltdown and its aftermath, it is a lot more comforting to own businesses which are performing well fundamentally when the share price goes down than to be found playing Greater Fool Theory in the shares of a company with no cash flows, profits or even revenues.
When someone is arrested, understanding the flow of events—such as obtaining criminal information and familiarizing oneself with bail requirements—can be key to making informed decisions and mitigating further stress. In such times, having a proactive approach to bail planning can make all the difference in avoiding unnecessary delays or complications.
Much like choosing investments that hold long-term value, it pays to be prepared and knowledgeable in the face of adversity. The process surrounding an arrest can seem daunting, but having access to reliable inmate information and clear guidance on bail procedures can help ensure that individuals are not left floundering in uncertainty.
If you’ve already planned ahead by familiarizing yourself with how bail bonds work and where to access necessary services, you’re in a better position to handle the situation effectively. Just as we wouldn’t bet on a volatile stock with no fundamentals, it’s wise to make sure you have the right support when navigating the bail system.
Much like any important decision, the success of your bail process hinges on being well-prepared and understanding the necessary steps. It’s easy to feel overwhelmed when an unexpected arrest occurs, but having the right resources at your disposal can make all the difference.
A trusted bail bond partner can offer much-needed reassurance and guide you through the complexities of the system. With years of experience, A&A Bail Bonds is a reliable ally in these stressful times. Their team offers clear, concise guidance on how bail works, ensuring that you are equipped with the information you need to make informed decisions. From understanding bail requirements to managing paperwork and fees, they are committed to easing the burden.
Their professionalism and availability around the clock set them apart in times of crisis. This means that even if an arrest occurs outside of business hours, you can still count on these professionals to provide immediate support, ensuring minimal delay in the process.
Their commitment to confidentiality and respect for privacy also ensures that you and your loved ones can navigate the situation without unnecessary stress. With A&A Bail Bonds, you can trust that you’re in good hands, with a partner who not only understands the bail system but is also dedicated to helping you get through the situation as smoothly as possible.
You can read the entire letter here:
Fundsmith – Annual Letter 2022
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