Christopher Davis Quotations

I think that in the high-tech area there were obvious areas of tremendous excess, and yet, of course, it's one of the great growth engines of the economy. Every investor thinking about the long term wants to own growth, but you have to buy it at a sensible price. And in the tech area, there are wonderful concepts, wonderful ideas, great productivity drivers, but still many overpriced issues,

It is a potential sea change in mutual funds.

I think there will certainly be some concern about earnings, but there are also parts of the market that will probably be grossly overvalued. I may not be an expert in all of them, but I do know that the earnings that would be produced by the businesses over their lifetime could never justify their market capitalizations; people bought them because they thought they have to go up, so in that sense, they're thinking about psychology rather than economics.

I believe he still knows where they are and may still have access to them somehow, ... They're going to be so hot now I can't imagine anybody wanting them.

There will be so many different levels of involvement. Whether it is leadership or whether it's managing the construction process or coming up with our business strategy or our branding types of things, and designing our Web site and marketing, and contacting sponsors and things like that.

Portfolio manager Bob Smith has been in charge since 1997 and is a very smart, capable investor who won't throw caution to the wind,

We put together this 25-page book of essentially our ideas on how we would go about doing the project, and we submitted that to the Department of Energy.

It wouldn't be catastrophic if they lost it.

It's one of our favorite large value funds, and has offered very good long-term returns with a lot of stability.

Rogers is finding value in some unusual places.