We are bottom-up, fundamental investors; as such, we invest with conviction where we believe we have differentiated views and insights. We are mindful of risk; therefore, we are constantly asking: are we being compensated for bearing risk? We accomplish this in one of two ways: by uncovering different or better information, or by interpreting information differently. We then marry the differentiated, fundamental research process with a disciplined approach to valuation in an effort to uncover the most promising investment opportunities.
Portfolio Manager Kevin Preloger discusses the implications for value investing in a market receiving mixed signals.
As trade tensions potentially distort the economic outlook, investors should prepare for market volatility and focus on defensive growth companies.
Portfolio Manager Justin Tugman says slowing growth and rising multiples are making for a difficult investment environment. In his opinion, equities remain attractive, but investors should consider a defensive approach.