On the heels of the Asian Financial Crisis that gripped much of the continent, Burgundy ventured into uncharted waters, launching its first strategy outside North America: Japan. After more than 20 years in this often-overlooked region, Burgundy’s bottom-up approach continues to endure despite unabating headwinds from stagnant economic growth, aging demographics, natural disasters, and now, a global pandemic. Does the West face a similar future?

On September 30th, Investment Counsellor Lauren Davis Landau sat down with Portfolio Manager Craig Pho to discuss Burgundy’s experience in Asia, lessons learned from investing in a difficult business environment, and how these lessons might be applied to a future where much of the world may face similar headwinds.

Highlights of the session include:

  • 01:42: Burgundy’s start to investing in Japan
  • 04:39: Investing through crises and how improbable things happen a lot more frequently than we think
  • 10:09: Being a contrarian and standing apart
  • 14:14: The importance of focusing on quality and having a long-term perspective

For an alternate format, access the transcript via the “Download PDF” link at the top of this post. The transcript has been edited for clarity.

Craig Pho

Craig Pho, CFA

Senior Vice President, Portfolio Manager

Lauren Davis Landau

Lauren Davis Landau, CFA

Vice President, Investment Counsellor

If you would like to see the full video to learn about the following, among other discussion points, please contact us.

  • How our investments in Japan have done during COVID-19?
  • What are the consequences of overpaying for a company?
  • What role has volatility and the Japanese central bank played?

 


This post is presented for illustrative and discussion purposes only. It is not intended to provide investment advice and does not consider unique objectives, constraints or financial needs. Under no circumstances does this post suggest that you should time the market in any way or make investment decisions based on the content. Select securities may be used as examples to illustrate Burgundy’s investment philosophy. Burgundy funds or portfolios may or may not hold such securities for the whole demonstrated period. Investors are advised that their investments are not guaranteed, their values change frequently and past performance may not be repeated. This post is not intended as an offer to invest in any investment strategy presented by Burgundy. The information contained in this post is the opinion of Burgundy Asset Management and/or its employees as of the date of the post and is subject to change without notice. Please refer to the Legal section of this website for additional information.