Posted: Thursday, November 15, 2018 - 12:06 EST
North American interest rates are on the rise, with important implications for equity valuations, both for the overall market and also between growth & value stocks. We are focusing on ensuring that our funds are well-diversified with high-quality holdings. We focus, first and foremost, on risk management. For every stock we own, or are considering purchasing, we quantify what we think is a worst-case downside target. In addition, we do our best to ensure that a downside trigger affecting one stock would not also cause other holdings to decline. This strategy allows us to take on intelligent risk with specific securities, with the knowledge that we are meaningfully diversified and not reliant on any one name for our performance. [pdf] of the full article.