Quarterly Commentary
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The Current Opportunity In Small Caps Globally
Small-cap stocks are trading near 20-year low valuations and remain an underfollowed corner of global equities rich with opportunity. (First Quarter 2023 Commentary)
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Equity Investing in an Uncertain Macro Backdrop
Despite recession, inflation, and geopolitical fears, we believe the value opportunity is compelling, even after its best relative performance in more than two decades. (Fourth Quarter 2022 Commentary)
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Opportunity in Times of Trouble – The Case for European Equities
European equities are trading near a 20-year low, driven by macro and geopolitical concerns. We are finding significant opportunity in well positioned, financially sound businesses, that should have the wherewithal to navigate a possible recession. (Third Quarter 2022 Commentary)
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Value’s Opportunity In Uncertain Times
As global stock markets enter bear market territory, we examine how equity markets perform around recessions, and the case for continued outperformance by value stocks. (Second Quarter 2022 Commentary)
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Fundamentals Point To An Enduring Value Cycle
Geopolitical shocks have usually been short-term in nature. We believe fundamentals for an enduring value cycle remain intact. (First Quarter 2022 Commentary)
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Are You Positioned For The Value Cycle To Run?
Severe underperformance by specific emerging-market countries has historically created a fertile hunting ground to find alpha-generating stocks. We are finding good value opportunities in 2021’s laggards. (Fourth Quarter 2021 Commentary)
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Maintaining Focus: Value’s Strong Fundamentals
The opportunity in value stocks remains compelling. Long-term investors should ignore the noise and focus on cheap valuations, strong operating metrics, and the solid real returns value stocks offer. (Third Quarter 2021 Commentary)
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