This presentation is intended to summarize trends in the American consumer economy for the past fifty years and to provide an explanation of how we determine a fair price when considering an investment.

Please send us your questions or suggestions so that we can improve upon the presentation in this format. 

Click here to review audience-asked questions and our responses to the live presentation from 12/4/03.

Sincerely, 
Ronald H. Muhlenkamp President, Muhlenkamp & Company, Inc.