Insights

Matt McLennan, head of First Eagle’s Global Value team, appeared on Fox Business to talk about the parallels between the 1960's and now, most notably in the fundamtenal transition in the currency markets.

The integration of emerging markets into the global economy in recent decades has lifted hundreds of millions of people out of poverty.

The emergence of the novel coronavirus and the economic impact of efforts to contain its transmission led to a deep, sharp repricing of risk assets during the first quarter as liquidity concerns emerged across financial markets. The first-quarter market rout began as a typical flight to safety, with risk assets declining sharply while traditional safe havens rallied. 

In the second quarter of 2020, the high yield market recouped much of the steep loss it had suffered in the first quarter of the year. The turning point for the market appeared to be the Federal Reserve’s March announcement that it would take aggressive measures to counteract the economic effects of the Covid-19 pandemic. 

The price of gold was volatile in a momentous first quarter that saw both the emergence of a global health crisis and a significant correction in global equity markets, though the metal very much served its purpose as a potential hedge against extreme outcomes.

Gold’s unique risk-return characteristics have given it the rare ability to maintain its real value in both inflationary and deflationary environments, while also serving as a potential hedge against extreme equity market drawdowns and thus a source of resilience for stock portfolios.

While it’s true a large proportion of the “new economy” names that dominated markets in recent years call the US home, there is no shortage of companies worldwide whose combination of scarce assets

On April 7, 2020, we spoke with Idanna Appio about recent market developments and the potential short- and long-term macroeconomic impacts of the coronavirus pandemic.

The latest Social Security Trustees Report revealed that the program’s 75-year deficit had increased and the depletion of the Social Security trust fund continues to be projected for 2035.

The co-managers say times like these make the case to own gold strategically as a potential hedge and not as a bet for higher prices.

The shift from defined benefit plans to defined contribution plans over the past few decades has had an unexpected effect on Late Boomers

Renewed easing by central banks worldwide was the defining move in financial markets during 2019, instigating a robust rally that left a number of major equity indexes at or near all-time highs by

Equity markets have overcome their end-cycle anxiety to deliver impressive gains thus far in 2019. Given the magnitude of returns across stock markets globally, it is perhaps not surprising to see widespread reports of FOMO among investors.

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."  

Conventional wisdom dictates that everyone should save as much as they can, as early as they can, for as long as they can in order to live a dignified life in retirement.

Nurtured by ever-cheaper computing power and the datafication of modern life, the rate of advancement in technologies based on artificial intelligence (AI) and offshoots like machine learning has a

The timing and conditions of Brexit remain unclear, but most estimates suggest that both the UK and EU economies will suffer as frictions are introduced into their economic connection.

Investors and consultants frequently ask for the Global Value team’s views on sustainable investing. While we do not offer strategies that focus in this area, we do pay close attention to issues of sustainability because they may be a key to a company’s resilience over the long term. Some investors see the energy sector as the antithesis of sustainability, but we see things differently. In this interview, Benj Bahr, energy-sector analyst on the Global Value team, explains why.

First Eagle’s Global Value team has adopted the value investment philosophy first developed by Benjamin Graham and later refined by Warren Buffett.

Rising volatility spurs many investors to sell indiscriminately and, in particular, to flee stocks they see as underperformers. This fear-driven flight may send share prices down into bargain territory, where value investors can acquire them.