Valuations Still Matter

In this conversation, Doug Winslow, Vice President and Portfolio Manager of U.S. equities, looks back at what has been a roller coaster of a year so far. Alongside Vice President and Senior Institutional Relationship Manager Paul Buligan, the two discuss value investing in today’s environment of disruptive technology and macro uncertainty. Amid the challenges of an ongoing pandemic and the uncertainties of an upcoming presidential election, Doug offers insight into what he is noticing in this geography. Please enjoy this thoughtful exploration into Burgundy’s investment approach.


Highlights of the session include:
  • 01:18: Managing a portfolio in an ‘unprecedented’ world
  • 13:40: The impact of interest rates on valuations and the associated risks
  • 17:40: Barriers to entry in an era of technological disruption
  • 25:28: Looking at investment styles in 2020: value vs. growth
  • 29:59: Thoughts on the upcoming U.S. presidential election
  • 35:14: What excites us about the portfolio

The transcript of the session has been edited for clarity.

 

 


This podcast does not consider unique objectives, constraints, or financial needs. The opinions expressed here are those of the speakers at the time of recording only. This podcast is for information purposes only and is not intended to offer investment, legal, accounting, or tax advice; provide recommendations or offers of solicitation; serve recruitment purposes; and/or serve marketing purposes. Burgundy assumes no obligation to revise or update any information to reflect new events or circumstances, although content may be updated from time to time without notice. Any numerical references are approximations only. Forward looking statements are based on historical events and trends and may differ from actual results. Content provided in this piece include proprietary information of Burgundy Asset Management Ltd. This content is not to be distributed without consent from Burgundy, and this is not intended as an offer to invest in any investment strategy offered by Burgundy. Listeners are advised that investments are not guaranteed, values change frequently, and past performance may not be repeated. Investing in foreign markets may involve certain risks relating to interest rates, currency exchange rates, and economic and political conditions.  Because Burgundy’s portfolios make concentrated investments in a limited number of companies, a change in one security’s value may have a more significant effect on the portfolio’s value. Characteristics described are also for illustrative purposes only and may exclude companies in the financial sector or with negative earnings as well as any outliers, as determined by Burgundy. Investors should seek financial investment advice regarding the appropriateness of investing in specific markets, specific securities or financial instruments before implementing any investment strategies discussed. Under no circumstances does any commentary provided suggest that you should time the market in any way. Please see more information here.

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