Day: October 15, 2022

3Q22 International Value Strategy Newsletter: Humming All the Way to Reno

[…] In our opinion, finding asset-rich businesses that are self-funding with low-cost capital structures (cheap debt) is the most interesting investment to make. You get the cover of macroeconomic fears as your discount tool to be the buyer. However, as the cost of capital rises and economic fears dissipate over the next few years, you are likely to have fewer competitors as operating costs and funding pressure keep new entrants out. We believe that this profile of stocks trading in international equity markets is “gonna be a star.” […]

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3Q22 U.S. Value Strategy Newsletter: At This Moment

[…] At this moment we are doubling down on our eight criteria for common stock selection and the bull market in commodities/land which broke out during the pandemic. What this means is that we are doing what we always try to do and that means that we expect to perform well going forward. […]

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