The market decline has been swift and deep, but we believe now is not the time to give in to fear.
We remain confident in the long-term prospects for businesses with strong balance sheets but also realize uncertainty caused by the COVID-19 virus and declines in the market is a concern for investors.
You invest with a value manager for times like this. Instead of trying to outrun the tidal wave of angst, we are strategically attacking it. We believe this approach is the best path to the other side.
In the face of extreme volatility, we have not headed for the exits but instead have sought to capitalize on market distortions created by fear of the unknown. Our teams are scouring balance sheets and management teams and have been able to scoop up what we view as some exceptionally well-run businesses at unheard of valuations. When the markets come out on the other side of this near-term panic, our clients will own what we view as some world-class businesses at prices that many would have considered unimaginable.
In the meantime, we believe the best approach is to remain calm and continue to forge ahead.
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Past performance does not guarantee future results.
The statements and opinions expressed in the articles or appearances are those of the presenter. Any discussion of investments and investment strategies represents the presenters' views as of the date created and are subject to change without notice. The opinions expressed are for general information only and are not intended to provide specific advice or recommendations for any individual. Any forecasts may not prove to be true.
Economic predictions are based on estimates and are subject to change.
Value investments are subject to the risk that their intrinsic value may not be recognized by the broad market.