The end of the easy-money era, why fundamentals matter again and drivers of recent performance
The bursting of the easy money bubble marks a huge transition for the markets
How the end of the free money era is ending the distortions of the past decade and returning rationality to the markets
The long period of low interest rate fueled a bubble, creating widespread market distortions and irrational valuations
Examples of how the low interest bubble era fueled speculation and irrational valuations
The long period of low interest rates punished companies who were succeeding by traditional measures
The speed of the current rate-hiking process and how it’s impacting companies who benefitted in the easy money era
In our view, what types of companies should be avoided, and which stand to benefit from the end of the easy money era
Tech, Semis, Financials and other themes we expect to drive returns
The huge, long-term tailwinds driving Semiconductor growth
The ever-expanding margins and valuations of the past decade are unlikely to be sustained
Electrification is driving copper demand, and the “decarbonizing” of energy is driving biofuels
Investors have rushed to a narrow universe of companies, driving valuations higher and placing the stocks in danger if growth disappoints
Why we believe select banks are attractive, given their durability, long-term growth, competitive advantages, growing market share and attractive valuations.
As rates normalize, certain business models are going to be severely challenged. What kind of companies do you want to own?
To benefit from the wealth-building potential of equities, investors need to understand that pullbacks and drama will be an inevitable part of the journey.
The danger of following the “experts” who try to predict the markets. Wealth compounds by remaining steadfast through inevitable adversity, not by trading in-and-out based on what is inherently unpredictable.
How inflation quietly eats away at the purchasing power of consumers and how Equities – while volatile in the short term – can help investors build long-term wealth faster than inflation can degrade it
Identifying vulnerable companies in both the Value and Growth camps – each dangerous in their own ways
Four areas we are finding opportunities now among resilient, cash-generative companies with attractive growth profiles and surprisingly low multiples
Predicting is futile. Buy businesses that have proven resilient through the inevitable storms. Investors are now being reminded of the critical importance of business durability.
High quality, resilient, cash-generating businesses bought at attractive prices may be the place to be if you are concerned with protecting long term purchasing power in a period of higher inflation
How the guidance of a financial advisor can help investors successfully build wealth as they navigate inevitable market volatility.
How emotion can impact the ability of investors to successfully compound wealth and the importance of partnering with a financial advisor.
Market forecasters have a terrible record of predicting the future. Investors influenced by them may be sabotaging their returns.
10% market corrections happen once a year on average. Don’t allow these inevitable pullbacks to sway you from your investment plan.
The danger of investment products built on back testing. Markets continuously evolve and factors that seemed to have worked in the past may not work going forward.
The vast majority of factors across society and around the world have improved massively for decades. Betting against long term progress is a loser’s game.
The types of companies that may continue to thrive if inflation increases.
Chris Davis on the all-important investing question, “When I look back two years from now, what will I be wishing I had done today?”
The most important lessons on successfully compounding wealth from our 50 years in the equity markets
Chris Davis tells Barron’s about the powerful lesson his grandfather taught him about thrift, financial independence and the miracle of compounding.
Our exceptional co-investment ensures that we focus on generating attractive returns, managing risk and minimizing expenses.
Chris Davis shares Berkshire Hathaway investing legend Charlie Munger's humorous wisdom on the futility of forecasts and predictions.
No one can consistently predict the markets over the short term, yet there are ways to invest with confidence to reach your long-term goals.
The profound influence these investment icons have had on our firm and philosophy.
“You make most of your money in a bear market, you just don't realize it at the time”, and other key insights.
How the mistakes hung on the wall of our research department help us to improve investment returns.