The views expressed are those of Michael Mauboussin, Chief Investment Strategist, Legg Mason Capital Management, as of June 8, 2010 and are subject to change based on market and other conditions. These views may differ from other portfolio managers or the firm as a whole, and are not intended to be a forecast of future events, a guarantee of future results or investment advice. The mention of any individual securities or sectors should neither constitute nor be construed as a recommendation to purchase or sell such securities, and the information provided regarding such individual securities is not a sufficient basis upon which to make an investment decision. Forecasts are inherently limited and should not be relied upon as an indication of actual or future performance. Any statistics have been obtained from sources the portfolio manager believed to be reliable, but the accuracy and completeness of the information cannot be guaranteed.
The information provided is intended solely to describe the manager’s management style, investment strategies and securities selection process, and does not have regard to the specific investment objectives, financial situation or particular needs of any specific person who may receive it. The information provided does not constitute, and should not be construed as, an offer or solicitation with respect to any securities, products or services mentioned or discussed.
Past performance is no guarantee of future results. All investments involve risk, including possible loss of principal. There is no guarantee that investment objective(s) will be met. An investor cannot invest directly in an index. Investments are not CDIC insured or guaranteed by any government agency. Values may fluctuate due to market conditions and other factors.