Federated Hermes International Leaders looks for industry-leading companies trading at a discount of 60% or more to their intrinsic value. It’s willing to...
Patience is a virtue for contrarian investors, who often must wait to see their investments in unloved stocks get rewarded.
Winkowski, 53, sums up his strategy neatly: Take a contrarian view toward bottom-up stock selection to create a concentrated portfolio of 60 to 80 names of large, industry-leading companies that trade at a substantial discount to intrinsic value, and hold them for at least two to four years. The fund’s returns show that sticking with this philosophy has paid off.
The team starts its research with a front-end screen to flag potential candidates; then the legwork commences. Each analyst conducts more than 250 company meetings annually, looking for strong management teams with good governance practices, and Winkowski’s team compares notes with the larger Federated Hermes equity and fixed-income staff to incorporate more input.
Covid’s market impact offered Winkowski a rare chance to bank on a theme—that leisure and business travel would rebound to 2019 levels this year. Those picks have powered year-to-date and one-year performance. In addition to Rolls-Royce, International Leaders bought British-based Informa , one of the largest global trade-show and events operators, in March 2021.
International Leaders’ biggest county exposures are to the U.K. and France, but Japan now has the third-largest weighting. Winkowski is excited about Japan because, for the first time in decades, the country is starting to see growth, with both inflation and wages increasing.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Goldman says these rare 6 stocks are favorites of both hedge fund and mutual fund managersThe Wall Street firm found that there are six 'shared favorites' among hedge funds and mutual funds last quarter.
続きを読む »
Why Christopher Nolan Didn't Want To Cast Joey Pantoliano In Memento (& Why He Was Perfect)Joe Pantoliano almost missed out on Memento
続きを読む »
Study suggests global warming set to worsen snow shortages on Europe's ski slopesA scientific study published Monday projects that over half of Europe’s ski resorts will face a severe lack of snow if temperatures rise 2 degrees Celsius above pre-industrial levels, while nearly all would be by an increase of 4 degrees — presenting challenges for the tourism industry and policymak
続きを読む »
Study suggests global warming set to worsen snow shortages on Europe's ski slopesA scientific study published Monday projects that over half of Europe’s ski resorts will face a severe lack of snow if temperatures rise 2 degrees Celsius above pre-industrial levels, while nearly all would be by an increase of 4 degrees — presenting challenges for the tourism industry and…
続きを読む »
Study suggests global warming set to worsen snow shortages on Europe's ski slopesA scientific study published Monday projects that over half of Europe’s ski resorts will face a severe lack of snow if temperatures rise 2 degrees Celsius above pre-industrial levels, while nearly all would be by an increase of 4 degrees — presenting challenges for the tourism industry and policymakers, and threatening a cold reality for ski lovers
続きを読む »
Study suggests global warming set to worsen snow shortages on Europe's ski slopesA scientific study published Monday projects that over half of Europe’s ski resorts will face a severe lack of snow if temperatures rise 2 degrees Celsius above pre-industrial levels, while nearly all would be by an increase of 4 degrees — presenting challenges for the tourism industry and policymakers, and threatening a cold reality for ski lovers
続きを読む »