Watch Matt McLennan alongside Evercore ISI's Ed Hyman as they discuss what has changed in financial markets over the last year and what that means for the U.S. economy and markets.
"If you're a long-term investor, it matters less what's happening to the markets as a whole, and matters more what you can find bottom up. At the end of the day, we're not betting on being all into markets. We're selectively buying into markets around the world and I think that's the key distinction."
Matt McLennan, Kimball Brooker and Manish Gupta managers of First Eagle Global Fund, recently spoke with Advisor Perspectives to discuss the Fund’s go-anywhere approach and investment philosophy centered on the protection of wealth with the primary objective of avoiding permanent impairment of capital.
It’s by design that companies in Matthew McLennan’s portfolios aren’t exactly those that set investors’ hearts racing with excitement. “We’re happy to own businesses with what we consider a gradual positive drift to them,” he says. In this article, Matthew McLennan and Kimball Brooker describe how they assess “fade risk” in a number of industries, what makes them uneasy about the state of the world today, why their exposure to gold is higher than normal, and why they see mispriced value in Fanuc, Orkla, Schlumberger, Jardine Matheson and Weyerhaeuser.
Watch Matt McLennan alongside Evercore ISI's, Ed Hyman, as they discuss what has changed over the last year and what that means for the U.S. economy and markets.
"We go wherever we can find what we believe are good businesses with a "margin of safety" and price. And the U.S. does not have a monopoly on great businesses.
Market participants are on edge as investors weigh global trade disputes, political insurgency in Europe, of course, and diverging global central bank policy.
The short term zigs and zags don't worry us as much. What worries us a little bit more is when we stand back and look at the market environment today, a lot of things have gone right.