For many investors, the word “volatility” conjures images of whipsawing markets, plummeting portfolios, and sleepless nights refreshing stock tickers. And lately, thanks largely to policy changes out of Washington, volatility has returned with a vengeance.
The headlines have been relentless, and...
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For years, we have read numerous articles and seen countless television commentators refer to Berkshire Hathaway’s “massive cash hoard” as if the company’s entire cash and fixed income balance (which is in the hundreds of billions) could be viewed as “dry powder” for potential acquisitions. This...
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Broad sector performance—whether upward or downward—often obscures individual opportunities lingering beneath the surface. As bottom-up stock pickers, we specialize in identifying these businesses, uncovering those we believe are mispriced and/or overlooked. Currently, two sectors where we’re...
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The investment landscape is shifting. In the decade leading up to COVID-19, the environment was characterized by low interest rates, easy money, and rapid growth in a handful of dominant technology companies. However, the next 10 years look far less certain.
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Editor’s note: The following was adapted from our 4Q 2024 Commentary..
In a world where geopolitical tensions are escalating and global conflicts are high, the defense sector faces unprecedented challenges and opportunities. Despite the recent downturn in these stocks, we believe that the current...
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Editor’s note: The following was adapted from our 3Q 2024 Commentary
In the months leading up to election day, both presidential candidates made promises of tax cuts and credits, housing incentives, childcare assistance, and other proposals. Unfortunately, little explanation was provided for how...
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The post was originally published October 10, 2019 and updated November 21, 2024.
“We are attracted to the downside protection that a convertible security’s bond feature offers, while also offering the ability to capture a significant portion of the upside in the issuer’s stock, given the...
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The contrasting views of Republicans and Democrats on banking regulations could be one of the starkest differences in the upcoming U.S. presidential election: Republicans believe in a more laissez-faire approach while Democrats favor a tighter regulatory environment.
During President Biden’s term,...
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Editor’s note: The following was adapted from our 2Q 2024 Commentary
As the U.S. economy absorbs the most aggressive Federal Reserve tightening cycle in recent history, the historically elusive "soft landing" increasingly is becoming the base case for investors. While economic growth has...
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With less than three months before Election Day, the race for U.S. presidency is heating up.
Every election brings the potential for unknown outcomes and volatility. However, this cycle has already had more than its share—from a debate performance by President Biden widely viewed as so disastrous...
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