Is this time to buy, wait, or reconsider your positions?

That comes down to what you’re invested in. And where the opportunities are.

Part of my focus with equities is to consider the robustness of the underlying assets. I remain suspicious of companies that are priced too far beyond tangible book value.

Then there is leverage. In good times, debt can boost a business and accelerate shareholder returns. But in times like these, it becomes a noose. Squeezing tighter to garrotte the firm, unless a capital raise can be pulled from the hat.

So, once again, we take a careful ruler to our Lifetime Wealth portfolio. Considering current guidance and risk.

If there’s one in our portfolio I’d be looking at more closely than others right now, it’s this business…


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