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On June 21st we held our first in-person and live Zoom event with guests both here in our new offices and attending from home. Our speaker was “live from London” and it was a great success. Learn a little more about why we are optimistic about international investing today.
Andrew Goodwin from Oldfield Partners spoke to us live from London! He explains their investment philosophy as “simple but not easy,” which is also the name of a book written by Richard Oldfield, who founded their investment firm. Price is absolutely important to them, he says. And now is “absolutely the right time to be a value investor.”
In a startling example, Andrew mentioned that during the Covid crash, the market value of one American company, Apple, was greater than the entire market value of all the stocks traded on the London Stock Exchange. I know the United Kingdom has troubles, but that big of a difference is an error sure to be fixed over time. Andrew views this time as a stunning opportunity for long-term value investors.
In case you are curious, here are today’s Apple Market Capitalization vs. United Kingdom. Apple is priced at approximately ⅔ of all the UK companies combined; note that the UK is the third-largest stock market in the world!
If you are a current client, you may find value investing particularly compelling. If you are thinking about investing internationally, you might enjoy the video. Or if you are not sure if you already have money with our international equities investments, like this one, make sure to talk to your financial planner!
