Heartland CEO: Record Market Highs Haven’t Dried the River of Value

Heartland Advisors Value Investing CEO and Portfolio Manager Will Nasgovitz

In conversation with financial columnist Chuck Jaffe, Heartland CEO and Portfolio Manager Will Nasgovitz noted Energy and Commodities as areas increasingly on Heartland’s watchlists for potential investment. He noted Energy Services and Transportation-related companies as standout areas that appear to be “turning the corner.” 
 
Nasgovitz also stressed the importance of financial soundness—one of Heartland’s 10 Principles of Value Investing™. He said it is particularly important during times like the present “long cycle” of expansion. 
 
When asked about high valuations, Nasgovitz noted Heartland’s approach focuses on individual security analysis:
 
“There’s not one area of the market, Chuck, that really jumps out to me that screams as overvalued, if you will. People point the finger at Consumer Staples or Utilities, but the reality is there’s pockets of opportunities in those sectors, too. So, we’re going to be looking for ideas that are hitting the majority of our 10 Principles regardless of the sector they’re in. There’s always a bull market somewhere, in my opinion.”
 

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