Ann: June 2009 Profit Update , page-5

I actually seem to have a preference for family managed businesses, when I look at my portfolio. I think these companies are more hesitant to do anything wrong than independent managers, as their family reputation is on the line for a start.

Also I like managers who feel the performance of their business strongly. I think the Cheetham's are in this category.

I visited SDI as a prospective equipment supplier about fifteen years ago and it was a common sense type of place, and without a strong sense of bullshirt hierarchy that you get with managementitis.