A Long-Term Focus on Companies Capable of Benefiting From Change
Narratives and themes regularly influence parts of the economy and financial markets. Occasionally, such themes become so dominant that, for a period, they disproportionately drive groups of stocks, both positively and negatively.
Navigating Unpredictability Requires a Long-Term Approach
The fourth quarter, and 2023 in general, provided yet another example of how rapidly things can change in capital markets. After weak returns in the third quarter, intermediate and long-term interest rates moved down sharply to end the year.
The Importance of Earnings Power Amidst Changing Market Expectations
Against the backdrop of low expectations, 2023 helped wash away the sour taste of 2022. The S&P 500® index returned more than 26 percent and all major indices posted handsome advances.
Committing to a Long-Term Strategy in the New Year
Nearly every financial publication this time of year includes forecasts for everything from stocks to bonds to GDP growth, inflation, employment, interest rates, election season, and geopolitical unrest.
Strong Portfolio Companies in the Face of Economic Challenges
Both September and the third quarter have well-earned reputations for being the most challenging periods of the calendar year for investors, and both continued that trend in the third quarter of 2023 as all major equity indices posted losses.
How Being Generalists Leads to Stronger Portfolios
Last quarter, we wrote about Riverbridge’s investment culture and the ways that culture incentivizes behaviors we believe make our clients’ portfolios stronger over the long term.