A: A 10% drop in the stock automatically triggers a major re-examination. Continual drop of 5% would make the situation extremely serious and may mean the end of it. We try to avoid big volatility and the timing of the purchase is crucial.

Q:  How do you handle situations of market crisis?

A: In 2002 there was tremendous overall market panic and liquidation. We handled that situation very effectively. We had enough cash and we were able to buy more at the bottom. We came extremely well back in 2003 and 2004 and it worked out favorably for us.