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The philosophy of creating value over the long term also drives our approach to
product innovation and entering new businesses. We focus on areas where we
believe we have the potential to create returns consistently year after year. This
philosophy is evident in the disciplined approach we take to managing the firm's
risk, as demonstrated by the low volatility in our quarterly trading results. Seeking to
avoid the pitfalls of following passing fads, we may forgo short-term reaction for
what we believe is a more sustainable future.
Excerpt of the Bear Stearns annual report to the shareholders November 30, 2006.
www.bearstearns.com
The philosophy of creating value over the long term also drives our approach to
product innovation and entering new businesses. We focus on areas where we
believe we have the potential to create returns consistently year after year. This
philosophy is evident in the disciplined approach we take to managing the firm's
risk, as demonstrated by the low volatility in our quarterly trading results. Seeking to
avoid the pitfalls of following passing fads, we may forgo short-term reaction for
what we believe is a more sustainable future.
Excerpt of the Bear Stearns annual report to the shareholders November 30, 2006.
www.bearstearns.com