The use of gold as a potential hedge against extreme market outcomes has long been a key tenet of First Eagle’s investment philosophy.
“One of the things that's important that we do a little bit differently at First Eagle, is we don't define value just in purely statistical terms."
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.
We live in interesting times. Over the past decade, we have witnessed the global financial system on the precipice of collapse, monetary interventions that are unprecedented in modern times, the European community on the brink of disintegration, and populist uprisings that would have been unimaginable as recently as five years ago.
Matt McLennan and Kimball Brooker, managers of First Eagle Global Fund (SGENX), recently spoke with Advisor Perspectives to discuss the Fund’s go-anywhere approach.
Valuation drives everything, according to Sean Slein and Kimball Brooker, portfolio managers of the First Eagle Global Income Builder Fund. Investing with a perceived “margin of safety” in equities and fixed income, the fund aims to provide both current and future income.
First Eagle High Yield Fund named one of the top bond funds in IBD’s 2018 Best Mutual Fund Awards. Read the full article to learn more.
How can investors protect their equity portfolios against a market crisis?
Kimball Brooker Jr. and Sean Slein discuss First Eagle Investment Management and the Global Income Builder Fund.
First Eagle's Thomas Kertsos believes that gold has unique risk-reward characteristics to be able to potentially preserve value in real terms in the long-term and provide diversification and resili
We think the alternative to benchmark-oriented investing is active value management that's oriented to absolute - not relative - returns.