Following the previous year’s rebound in Tech stocks, Tesla and Bitcoin there is much discussion of ‘investment bubbles’. We discuss why markets might be seen as “bubbly” and how we are positioning portfolios in light of this.
While our limited exposure to the headline-grabbing companies might suggest an absence of cutting-edge technology stocks, we prefer to survey a broader horizon of long-term opportunities.
Equity market returns have been narrowly concentrated in recent years. But the unpredictability of market timing highlights the need for a disciplined investment approach and a diversified portfolio of global companies.
Searching for soundly financed businesses with strong competitive positions has been fundamental to our investment approach since 1986 and has contributed to our long-term performance.
