Investing periodically goes through difficult relative periods, particularly when markets become concentrated in a narrow group of companies, sectors or themes. During those periods, share prices can move well ahead of fundamentals in the favoured areas...
The MSCI ACWI ex Australia Index rose 5.2% in May, with Asia ex Japan leading regional performance, up 11.2%. Japan also posted strong gains of 6.2% in local currency, while the S&P 500 advanced 5.3% in the United States. P
The most important point to make this month is that the portfolio has not changed its character. We continue to own companies with strong competitive positions, high returns on capital, healthy balance sheets and long-term growth opportunities. What
In April, the concentrated selection of stocks we have in our portfolio delivered a return of 0.31%. The broader market, as measured by the MSCI ACWI ex Australia Index, rose 6.8% over the month while emerging market equities delivered their strongest absolute return since 2009.
In April, the concentrated selection of stocks we have in our portfolio delivered a return of 0.31%. The broader market, as measured by the MSCI ACWI ex Australia Index, rose 6.8% over the month while emerging market equities delivered their strongest absolute return since 2009.
