Investors initially downplayed news of the novel coronavirus outbreak in China, and equity indexes continued to press higher for the first weeks of 2020 as they did for much of 2019, led by growth-
First Eagle was built on the notion that a bottom-up, fundamental approach to equity investment could help uncover attractive opportunities in markets worldwide, to the potential benefit of investo
Though equity indexes have bounced off their worst levels of 2020, Matt McLennan, head of First Eagle’s Global Value team, appeared on Bloomberg TV to caution that the full impact of the pandemic’s “gut punch” to the world economy may yet to be fully appreciated by markets.
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 coronavirus outbreak represents a significant shock to both supply and demand in China and is likely to have repercussions for both Chinese and global economic growth.