Markets Quotations | Page 5

We believe today's investment environment presents excellent opportunities for those with buy-and-hold strategies, and we encourage all investors ? particularly those with less experience in the markets ? to stay focused on their long-term investment goals.

We believe this would be a successful strategy, given the type of content and markets Apple has had success in.

What's so seductive about the efficient markets hypothesis is that it applies nine years out of ten. A lot of the time it works. But when it stops working, you blow up.

We've seen markets get ahead of themselves in bonds and in currencies as well. There are signs that markets have now gotten too optimistic about not only the size of the U.S. recovery, but the speed; our medium-term forecast is still very much of euro strength and dollar weakness.

We've seen markets get ahead of themselves in bonds and in currencies as well, ... There are signs that markets have now gotten too optimistic about not only the size of the U.S. recovery, but the speed; our medium-term forecast is still very much of euro strength and dollar weakness.

We've seen a sharp sell-off, bond markets have risen strongly, equity markets have basically collapsed very, very quickly.

We've seen a sea change in the way the financial markets and economy watchers are looking at the world, ... For many months, people thought the economy was so strong and robust, they could ignore these head winds.

We have had a bearish week in U.S. markets and people who had thought the range in rates would hold are now re-evaluating that view as the evidence points to a stronger U.S. economy.

We have restored the volume growth momentum of our domestic beer company. We are in the process of restoring revenue per barrel growth through the implementation of our 2006 price plan, and are working to restore cost stability through a number of cost reduction programs. With our substantial leadership position and competitive advantages in domestic beer and our important strategic positions in key high growth markets internationally, we are confident we will restore our profit growth in 2006(1) and beyond.

What we're anticipating is a soft landing nationally. The markets will be coming back to their long-term average, which is a 4 percent to 6 percent (annual) appreciation rate.