Our thoughts are with all our readers at this time.

Leyland Private Asset Management is committed to doing all we can to help.

Our portfolio managers are available on the phone or email to chat with you about individual companies, outlook on the market or anything else you may wish to discuss.

As far as the markets themselves go, we have been through many troubling times in the past, including the great depression, world wars, recessions, oil panics, crashes and other major events.

Every time, the market has eventually recovered and those that held through have done very well.

Whilst it may seem like there is no light at the end of the tunnel, I can assure you, things will eventually improve. In fact, the cyclically adjusted price-to-earnings ratio (defined as price divided by the average of ten years of earnings, adjusted for inflation) – is at 20-year lows.

This market detraction has been broad, and very good quality business with strong balance sheets and exceptional management have been sold along with the market.

The point of maximum pessimism usually provides a reasonable basis for buying. We cannot predict short-term market movements but trust the tenants of the most successful investors in history, who tend to use market weakness as an opportunity.

To paraphrase Warren Buffet – The market is having a clearing sale and a lot of stock has been marked down.

Please see below an excellent interview which was recently conducted with Warren Buffett. The first 10-15 minutes in particular are excellent.

Take care, and reach out if you need us.

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