Over Thursday and Friday of last week, major stock indexes fell more than 10% from their recent peak. Commentators (calmly) urged investors to remain calm, that "corrections" such as these occur periodically. While additional factors were at work -- including a prevailing concern of a worldwide economic slowdown, China's decision to devalue its currency in the hope of making its products more price competitive appears to have triggered the quick decline.
Over the next few days, it will be interesting to see whether Vietnam, Indonesia, and other Far East countries follow suit and devalue their currencies in order to preserve their competitive positions with China -- which could make this all an exercise in ring-around-the-rosie. An actual correction could be still in the making.
Thankfully, ETI investor relations people aren't burning the midnight oil over this -- because we don't have any investor relations people. We have no stock. We're privately held.
If we have any "safe haven," it's in the confidence of our people, the true value of our products, and the strength of our relationships with our customers.
We like it that way.
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