A Positive Note at the End of a Tough Year
Discoveries like these will generate significant benefits in the coming decades. Companies will harness their power and disseminate their value throughout the global economy. Diversified and patient investors will capture much of that value.
Webinar Replay: Osterweis
Carl Kaufman gives the Fed a C+ for their moves this year. Like the embarrassing uncle, the Fed is late to the party with raising rates and may be overstaying their welcome.
BEW Webinar with DFA’s Apollo Lupescu, PhD
Apollo is matchless at weaving together data, anecdotes, and behavioral biases to educate investors on how to make sound, evidence-based decisions. His lessons are evergreen, but they are especially important to recognize in the face of harrowing markets, like we see today.
Replay: Webinar with Tony Coniaris of Oakmark Funds
We find it fascinating to hear Tony describe how much process, consideration, and analysis goes into building Oakmark portfolios. We encourage everyone who missed the webinar to watch the replay. Let us know if you have any questions or feedback on the discussion.
BEW Webinar with David Polak of Capital Group
David then unpacked how 2021 has affected his views on China (made him more wary), taking us through how the government approaches which sectors to support and which to regulate. He addressed how the global surge in venture capital may lead to more dominant international companies, the mechanics around Brexit, and what sectors and trends he believes may be interesting opportunities in the years ahead.
Watch: Q&A with the Portfolio Managers of the Osterweis Strategic Income Fund
The Fed actions in suppressing interest income is like Aesop’s fable where the wind and the sun try to see who can make a man remove his coat. The sun wins because the harder the wind blows the tighter the man holds onto his coat. Similarly, the more the Fed pushes rates lower, the more people save and the less they spend.