Honoring 40 Years of Investment Achievement
First Eagle’s Global Value Strategy marked its 40th anniversary on January 1, 2019. From the time that Jean-Marie Eveillard—a pioneer in global value investing—assumed leadership of the Global Value Strategy, it has consistently employed a disciplined, benchmark-agnostic, value-oriented philosophy. Jean-Marie was portfolio manager of the Global Value Strategy for over 25 years and now serves as a Senior Advisor. We sat down with the legendary investor to discuss his experience and outlook.
First Eagle Investment Management, Ltd, a wholly owned subsidiary of FEIM, is authorised and regulated by the Financial Conduct Authority of the United Kingdom.
There are risks associated with investing in securities of foreign countries, such as erratic market conditions, economic and political instability and fluctuations in currency exchange rates. These risks may be more pronounced with respect to investments in emerging markets.
Investment in gold and gold-related investments present certain risks, and returns on gold-related investments have traditionally been more volatile than investments in broader equity or debt markets.
The principal risk of investing in value stocks is that the price of the security may not approach its anticipated value or may decline in value. All investments involve the risk of loss.
The commentary represents the opinion of Jean-Marie Eveillard as of January 2019 and is subject to change based on market and other conditions. The opinions expressed are not necessarily those of the entire firm. These materials are provided for informational purpose only. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Any statistics contained herein have been obtained from sources believed to be reliable, but the accuracy of this information cannot be guaranteed. The views expressed herein may change at any time subsequent to the date of issue hereof. The information provided is not to be construed as a recommendation or an offer to buy or sell or the solicitation of an offer to buy or sell any fund or security.
First Eagle defines “margin of safety” as the difference between a company’s market value and our estimate of its intrinsic value. An investment made with a margin of safety is no guarantee against loss.
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