Lionridge Quarterly Portfolio Manager Commentary Spring 2018

Includes: KODK
by: Hardev Bains

Stock valuations are not meaningfully lower as compared to the end of 2017 and have still not provided the kind of new opportunities we like to see. Our cash position remains high and we remain patient.

Most of the stocks we hold in the Lionridge Total Equity Portfolio do pay a dividend. That said, we don’t make the payment of dividends a requirement in our stock selection process.

Relying too heavily on dividends from equity investments to meet current cash flow needs may lead to the risk of permanent losses of capital. This is what we strive to avoid.

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