Uncertainty is at exceptional levels. The halt in activity today is unlike slowdowns we’ve seen before, and it’s affecting companies in a variety of ways. Our co-CIO John Goetz and portfolio manager Allison Fisch discuss our efforts to understand what bad looks like, company by company, and the research necessary to evaluate if companies can survive a prolonged downturn.
Recording Date: April 24, 2020
Disclosure
This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. Neither the speaker nor PIM undertake to advise you of any changes in the views expressed herein. There is no guarantee that any projection, forecast, or opinion in this material will be realized. Past performance is not indicative of future results. All investments involve risk, including risk of total loss.
The specific portfolio securities discussed in this document were selected for inclusion based on their ability to help you better understand our investment process. They do not represent all of the securities purchased or sold during the quarter, and it should not be assumed that investments in such securities were or will be profitable. PIM is a discretionary investment manager and does not make “recommendations” to buy or sell securities. Holdings vary among client accounts as a result of different product strategies having been selected thereby. Holdings also may vary among client accounts as a result of opening dates, cash flows, tax strategies, etc. There is no assurance that any securities discussed herein remain in our portfolios at the time you receive this presentation or that securities sold have not been repurchased.
This recording does not constitute a current or past recommendation, an offer, or solicitation of an offer to purchase any securities or provide investment advisory services and should not be construed as such.
Please click on the following link for important information: https://www2.pzena.com/PodcastDisclosure
© Pzena Investment Management, LLC, 2020. All rights reserved.
The impact of COVID-19 on Fresenius Medical Care is inherently transient. At the same time, favorable industry trends are emerging, the benefits of which...
As value investors, we look for good companies with temporary problems, and found one such opportunity in specialty vehicle manufacturer REV Group. Portfolio Manager...
In today’s episode, our Director of National Accounts Peter Quinn speaks with Portfolio Manager and Co-Chief Investment Officer John Goetz about the current opportunity...