The Smith Company
介绍史密斯公司作为私人投资公司，其目标是为家族成员提供类似捐赠基金的股息流，并讨论了互联网泡沫、成长与价值股回报、公司税前股权业绩、标普500股息行为及企业现金滥用。
The Smith Company is a private investment company whose primary investment objective is to provide an endowment-like stream of dividends to the members of the Smith family. The company invests primarily in publicly traded equities, although it also owns a few municipal bonds. The president9s letter to shareholders for the year 2000 discusses the so-called Great Internet Bubble, the returns to growth and value stocks, the company9s pre-tax equity track record since the family sold its operating businessin 1974, the dividend behavior of the S&P 500, and the misuse of corporate cash.