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The Bloomberg Intelligence Fair Value Model is currently showing a 19.1x multiple on the S&P 500, which is lower than where we currently are, due to the Mag 7 driving a lot of the valuation premium in the index. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst with Bloomberg Intelligence and co-host Michael Casper, US small cap and sector strategist at BI, spoke with Christopher Davis, chairman and portfolio manager at Davis Advisors about the significance of the earnings yield and the selective nature of the Davis investment discipline. They also discuss why management culture is crucial for long-term success and why understanding management’s capital allocation decisions is vital.

The Bloomberg Intelligence Fair Value Model is currently showing a 19.1x multiple on the S&amp;P 500, which is lower than where we currently are, due to the Mag 7 driving a lot of the valuation premium in the index. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst with Bloomberg Intelligence and co-host Michael Casper, US small cap and sector strategist at BI, spoke with Christopher Davis, chairman and portfolio manager at Davis Advisors about the significance of the earnings yield and the selective nature of the Davis investment discipline. They also discuss why management culture is crucial for long-term success and why understanding management&rsquo;s capital allocation decisions is vital.

Reports of active management's demise have been greatly exaggerated. Active continues to grow and evolve in ETFs while mutual funds prosper and define benefit plans. Bloomberg Intelligence strategy team uncover active opportunities and gleam insights from active managers and those who cover the industry.

Reports of active management's demise have been greatly exaggerated. Active continues to grow and evolve in ETFs while mutual funds prosper and define benefit plans. Bloomberg Intelligence strategy team uncover active opportunities and gleam insights from active managers and those who cover the industry.

Inside Active by Bloomberg Intelligence

Davis Funds’ Chris Davis on the Earnings Yield

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e01ecce7-f891-4f00-9f59-b2490145addb/transcript

Recent quarterly results from Japanese companies came out better than expected, with quarterly year-over-year growth of around 26%. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst with Bloomberg Intelligence, along with co-host Laurent Douillet, senior equity strategist for Bloomberg Intelligence, spoke with Graeme Forster, an international equity strategy and global equity strategy portfolio manager at Orbis Investment Management, about the importance of intrinsic value and independent decision-making in stock evaluation. They also discuss how market inefficiencies can create significant investment opportunities, what industry he currently likes in Japan and the role of risk management in investment decisions.

Recent quarterly results from Japanese companies came out better than expected, with quarterly year-over-year growth of around 26%. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst with Bloomberg Intelligence, along with co-host Laurent Douillet, senior equity strategist for Bloomberg Intelligence, spoke with Graeme Forster, an international equity strategy and global equity strategy portfolio manager at Orbis Investment Management, about the importance of intrinsic value and independent decision-making in stock evaluation. They also discuss how market inefficiencies can create significant investment opportunities, what industry he currently likes in Japan and the role of risk management in investment decisions.

Orbis’ Forster on Importance of Intrinsic Value

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/5b9d7b41-a4b4-4357-9dbd-b24201284d5d/transcript

Themes ranging from decentralized energy to nuclear to solar have found fresh footing this year due to secular growth trends such as the acceleration of electrification needs. In this episode of Inside Active, host David Cohne, mutual fund and active-management analyst with Bloomberg Intelligence, along with co-host Breanne Dougherty, head of thematic strategy at Bloomberg Intelligence, spoke with Jonathan Waghorn, a portfolio manager on the Guinness Global Energy and Guinness Sustainable Energy strategies, about the energy transition. They looked at why fossil fuels will continue to play a role in the shift and how technology companies are focusing on renewable sources. They also discuss the firm’s top-down and bottom-up approaches, including its global energy model and quantitative screening criteria, as well as why the portfolio is equal-weighted.

Themes ranging from decentralized energy to nuclear to solar have found fresh footing this year due to secular growth trends such as the acceleration of electrification needs. In this episode of Inside Active, host David Cohne, mutual fund and active-management analyst with Bloomberg Intelligence, along with co-host Breanne Dougherty, head of thematic strategy at Bloomberg Intelligence, spoke with Jonathan Waghorn, a portfolio manager on the Guinness Global Energy and Guinness Sustainable Energy strategies, about the energy transition. They looked at why fossil fuels will continue to play a role in the shift and how technology companies are focusing on renewable sources. They also discuss the firm’s top-down and bottom-up approaches, including its global energy model and quantitative screening criteria, as well as why the portfolio is equal-weighted.

Guinness’ Jonathan Waghorn on Sustainable Energy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b19874e8-cd2e-4ccf-ace5-b23b01259648/transcript

Out of the 31 global stocks found in four or more BI themes, the ones exposed to physical environment issues have outperformed tech stocks dramatically so far this year. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst with Bloomberg Intelligence, along with co-host Breanne Dougherty, head of thematic strategy at BI, spoke with Albert Chu, a portfolio manager with the Man Group and manager for the American Beacon GLG Natural Resources ETF (MGNR). They discussed dispersion in commodities and why falling interest rates have historically been positive for commodity prices. They also spoke about the likelihood of a global restocking cycle amid rate cuts and a stimulus environment in China, and which subsectors Chu is bullish on.

Out of the 31 global stocks found in four or more BI themes, the ones exposed to physical environment issues have outperformed tech stocks dramatically so far this year. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst with Bloomberg Intelligence, along with co-host Breanne Dougherty, head of thematic strategy at BI, spoke with Albert Chu, a portfolio manager with the Man Group and manager for the American Beacon GLG Natural Resources ETF (MGNR). They discussed dispersion in commodities and why falling interest rates have historically been positive for commodity prices. They also spoke about the likelihood of a global restocking cycle amid rate cuts and a stimulus environment in China, and which subsectors Chu is bullish on.

Man Group’s Chu On Dispersion in Commodities

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/9a54e992-640b-459c-9608-b23301587287/transcript

Davis Funds’ Chris Davis on the Earnings Yield

Inside Active by Bloomberg Intelligence

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