Many investors have followed the rise of the FAANG stocks (Facebook, Apple, Amazon, Netflix, and Google (Alphabet)) during this economic cycle, but many are unaware of just how large a piece of the S&P 500 Index these five companies have become. If you include Microsoft, which boasts a market...
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Over the past two weeks, we have discussed the underperformance of value stocks relative to growth stocks during the current market cycle. However, when it comes to assembling a portfolio of value stocks with the strongest risk/reward characteristics, there are myriad different approaches. While...
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Last week, we discussed how value stocks have significantly underperformed growth stocks, and how broad market benchmarks such as the S&P 500 and the Russell 1000 have tilted further towards growth equities as a consequence of their market cap weighting methodology.
But all value investors are not...
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As can be seen in the chart below, value investing has underperformed growth investing significantly over the past thirteen years. This has resulted in broad market benchmarks such as the S&P 500 and the Russell 1000 tilting further and further towards growth investing as a consequence of their...
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Current Market Environment
While the first quarter of 2019 ended with a sense of optimism that trade negotiations were going well with China, the second quarter was a roller coaster of renewed tensions with Beijing, plus new...
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At the front end of our investment process, we screen financial databases with specific criteria to help us identify interesting ideas upon which we can do more work. Free cash flow yield...
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Portfolio Managers John Gillespie, Kevin O’Brien and Jason Kish recently sat down and answered 11 questions regarding the team’s unique value-investing philosophy as well as lessons learned from past experiences. Here’s an important one regarding mentorship:
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We believe the best partnerships are built upon strong relationships between people. In order for you to get to know us better, we’ve created a “Meet the Team” blog series.
Meet Jason Kish, Portfolio Manager and Analyst at Prospector Partners. Mr. Kish has been with the firm since 1997, beginning...
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We are officially halfway through 2019. As we wind down a little and enjoy the long hot lazy days of summer, maybe even take a few days off, it’s not a bad time to reflect on the year so far.
In 2019, we launched this new blogging site. Our market insights have been well received and we appreciate...
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We frequently receive questions around how we think about risk, and how we attempt to control it. We view investment risk as the risk of a permanent loss. We view volatility as a symptom of risk, but not an actual risk.
Risk management is embedded directly into the Prospector’s investment process,...
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