By
Borsgade
Bill Nygren and colleagues from Oakmark Funds give their assessment of the current stock market and reflect on developments in 2022 and 2023.
While the markets tend to focus on macroeconomic themes, often those themes do not apply broadly or do not reflect the corporate fundamentals of specific stocks. European natural gas prices didn’t prove to be a crisis and interest rates didn’t impact the big picture as much as had been predicted, so focusing on the past two years’ short-term blips wasn’t a productive approach for long-term investors.
Overall, international markets are trading at a significant discount; we believe the strongest opportunity is in Europe, where the fundamentals of select multi-nationals remain underappreciated.
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The above has been prepared by Børsgade ApS for information purposes and cannot be regarded as a solicitation or recommendation to buy or sell any security. Nor can the information etc. be regarded as recommendations or advice of a legal, accounting or tax nature. Børsgade cannot be held liable for losses caused by customers’/users’ actions – or lack thereof – based on the information in the above. We have made every effort to ensure that the information in the above is complete and accurate, but cannot guarantee this and accept no liability for errors or omissions.
Readers are advised that investing may involve a risk of loss that cannot be determined in advance, and that past performance and price development cannot be used as a reliable indicator of future performance and price development. For further information please contact info@borsgade.dk
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