Rough Sledding July 9, 1998 Dear Investor, Buy low, sell high is a piece of investment advice that few adhere to anymore–a shame, since it’s the only piece that ultimately matters. The adage won’t have meaning though, until that black day when selling high becomes history. On the equity side, it’s been rough sledding. We’ve resisted the mania to swim with the large caps. They’re just too expensive. Quarter 2 was difficult, with the widest...