Value investing insights directly from senior investment personnel at Pzena Investment Management.
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Timely and impactful interviews with prominent investment managers. Frontier Asset Management has a long history of investing in active mutual funds . In this podcast, we seek to shine a light on the investment managers who run these mutual funds. We believe, these professionals need to stay on top of economic events, the political environment, and business trends worldwide. They also need to have in-depth knowledge of the businesses that drive our economy. In short, many of the investment m ...
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I think this Podcast is going to blow you away. I was left speechless. The implications of AI are truly outstanding. And we don’t know of any investment firm that is more of the forefront of this revolution than Alger. You are in for a treat, so tune in for a fascinating ride.由Geremy van Arkel, CFA®
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CEO/Portfolio Manager Caroline Cai and Founder/Portfolio Manager Rich Pzena discuss the current opportunity for disciplined value investors, hosted by Director of Business Development and Client Services, Kate Phillips. The discourse is followed by a live Q&A session. Topics include: the importance of having a long-term perspective the continuing i…
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Our Vice Chairman Bill Lipsey sits down with Founder Rich Pzena and our Head of Leveraged Loans/High Yield Credit Mark Heron to discuss the launch of the Pzena Focused Credit Opportunities strategy – including how it came to be, how it aligns with our value philosophy, and how it benefits from the industry expertise of our equity research team. Thi…
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I have been waiting a long time to host a quality podcast about value investing. As most of you know, the investment world has been dominated by growth and technology themes over the last 2 years. But how does that leave the rest of the investable universe? Value stocks, small stocks, international stocks, and especially emerging markets stocks hav…
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Portfolio Managers Allison Fisch and John Goetz discuss value opportunities in the Chinese market. Recording Date: April 2024 For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The v…
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Want to know Pzena’s “best ideas”? Portfolio managers discuss the stocks they are finding most interesting right now on the latest episode of PzenaPerspectives. Recording Date: February 2024 Disclosure For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties…
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Welcome to 2024! Feeling optimistic? The economy seems to be dieseling along, asset prices are high, and the Fed is likely to cut rates. What’s not to like? We kick off the year with a roadmap tour the opportunities and risks ahead for 2024 with Rob Almeida, Global Strategist for MFS Investments. Tune in and buckle up, let’s go for a ride.…
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Co-CIO and Portfolio Manager John Goetz and Portfolio Manager Dan Babkes discuss the current opportunity for disciplined value investors. Topics include: · Finding value when the equity risk premium is low · The opportunity in China for value investors · The impact of the “Magnificent Seven” (January 2024) For Professional Investors Only. This reco…
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Portfolio Manager Akhil Subramanian and Co-Chief Investment Officer John Goetz discuss the current opportunity in China for value investors, including companies they find most compelling (Haier, China Overseas Land & Investment, Alibaba) on the latest episode of PzenaPerspectives. Recording Date: December 13, 2023 These materials are intended solel…
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Did you know that there are three types of non-investment grade (credit) bonds in the marketplace today? When investors think about credit bonds, they are usually referring to just high-yield bonds. Post the Great Financial Crisis (GFC) though, the non-investment grade bond market has changed and is no longer dominated by just high-yield bonds. Inv…
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Portfolio Manager John Flynn and Director of Business Development & Client Services Adrian Jackson discuss value investing, taking a deep dive into the historical return profile of the asset class and addressing common misconceptions around the risks of value stocks. John also exposes the flaws of seeking value exposure through value indices and “v…
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Many of you may have never heard of the Rainier International Discovery Fund. However, Henrik Strabo, the founder and lead portfolio manager of this fund has been managing portfolios for over 30 years. Henrik is steeped in experience and joins us to discuss how changes around the world can lead to winning investments, and to losers. Surprises often…
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Co-CIO Rich Pzena and Portfolio Manager Miklos Vasarhelyi discuss the current opportunity for disciplined value investors. Topics include: · The YTD growth outperformance driven by mega-caps, and the associated historical context · Our view of the banking sector in both the US and Europe · Where we are finding value now Recording Date: July 25, 202…
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For the twelve years following The Great Financial Crisis, money market yields had remained close to 0%, and bond yields were consequently repressed. However, today the entire bond spectrum appears to exhibit different characteristics than when the Fed Funds Rate was 0%. Instead of low inflation, we have inflation higher for longer. We currently ha…
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In this episode we discuss managing resilient equity portfolios that can endure multiple market environments with Adam Sues of Yacktman Funds. For those of you who don’t know Yacktman, they have been a pillar of quality focused equity management for the past 30 years. Morningstar might classify Yacktman as a large cap value manager, but they are so…
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In this episode, Portfolio Managers Evan Fox and Matt Ring sit down with Pzena’s Co-Head of North American Distribution, Valerie Mignone Arnold to discuss the attractive valuations of small cap stocks across the globe. Recording Date: May 8, 2023 Disclosure For Professional Investors Only. This recording is for institutional investors, and in the U…
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In this episode, Portfolio Manager John Flynn and Senior Research Analyst Eric Hagemann sit down with Pzena’s Co-Head of North American Distribution, Valerie Mignone Arnold to discuss the recent volatility and the banking crisis through the lens of value investors. Recording Date: April 11, 2023 Disclosure For Professional Investors Only. This reco…
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Adrian Jackson hosts this lively discussion where Portfolio Manager John Flynn and ESG Research Analyst Luke Longinotti discuss Pzena’s approach to ESG. Pzena’s Opportunity List seeks to systematically identify opportunities in our portfolio where material ESG issues exist and engagement could have a positive impact. Recording Date: March 9, 2023 D…
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CEO and Portfolio Manager Caroline Cai and President and Portfolio Manager Allison Fisch discuss the 2023 outlook for value in this special episode of the PzenaPerspectives podcast. Recording Date: January 25, 2023 Disclosure For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and…
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For institutional investors, First Eagle has long been one of the most revered investment firms in the nation. Their mutual funds have been a pillar of strength in Frontier portfolios, providing consistent performance year after year, for decades, even during some of the most difficult of times. If you ask them how they have been able to achieve th…
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Welcome to 2023! Two big questions for the year; where will inflation likely end up, and what is the Fed’s plan? Let’s find out with Tony Crescenzi of PIMCO, after all PIMCO might know a thing or two about inflation and the Fed.由Geremy van Arkel, CFA®
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Founding partners Rich Pzena and Bill Lipsey discuss the process of succession and the next generation of leadership in this special episode of the PzenaPerspectives podcast. Recording Date: January 3, 2023 Disclosure This recording is for institutional investors. Any views and statements expressed in this recording are those of Pzena Investment Ma…
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So here we are, 9 months into a market decline. What now? In this interview we discuss what is likely to happen to the economy and earnings, what is next for capital markets, and where is the opportunity. Who doesn’t want to know that? I don’t know anyone that can deconstruct it better than Brad Neuman.…
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Triumph! What an honor it was to host the famed international investor Rezo Kanovich from the Artisan International Small Mid Growth Strategy. Frontier has been a long-term investor with Rezo and Artisan, and I was shocked to have been able to interview such an icon of international investing. We deconstruct the importance of security selection, th…
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Portfolio Manager Miklos Vasarhelyi and Co-Chief Investment Officer John Goetz discuss the current opportunity in Europe for value investors, including some specific companies they find most compelling on the latest episode of the PzenaPerspectives podcast. Recording Date: October 11, 2022 Disclosure This recording is for institutional investors. A…
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Much has changed since our 2022 outlook – a war, energy price shocks and broader inflation, Fed rate hikes, and recession concerns, to name a few. With equity markets under pressure, where do value stocks stand? Portfolio Manager Allison Fisch and Co-Chief Investment Officer John Goetz discuss their mid-year outlook. (Recorded in July 2022) Disclos…
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Auto supplier Lear’s profitability has been impacted by cost pressures and the supply chain, but its operating flexibility and product portfolio should help it thrive, as the industry normalizes and electrifies. Listen in on a real-life manager’s meeting with Lear CEO Ray Scott, Lear CFO Jason Cardew, and Pzena Portfolio Manager’s Ben Silver, Andre…
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Stocks down, bonds down, managed futures up! What are managed futures, how do they work, and why are they performing so well in this “everything down” environment? To answer these questions, we go right to the source - Yung-Shin Kung, Head of Quantitative Strategies, & Portfolio Manager of the Credit Suisse Managed Futures fund. Tune in and listen …
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Managing Principal and Co-Chief Investment Officer John Goetz touches on uncertainty — the quick, fearful response to geopolitical shocks and macro concerns — and the recovery of hope that typically sets the stage for strong value-stock returns. Recording Date: May 12, 2022 Disclosure This recording is for institutional investors, and in the UK for…
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As value investors, we look for good companies with temporary problems, and found one such opportunity in specialty vehicle manufacturer REV Group. Portfolio Manager Evan Fox is joined by REV Group CEO Rod Rushing on the latest episode of the PzenaPerspectives podcast. Recording Date: March 31, 2022 Disclosure This recording is for institutional in…
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In this podcast, we interview Max Belmont, Associate Portfolio Manager for the First Eagle Gold fund. What does First Eagle know about gold? Well, they just might own more gold than any other private entity in the country. How much gold can fit in a swimming pool, what is the difference between gold out of the ground and gold mining stocks, what is…
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While this podcast does hover around the growth vs. value debate, we will hone in on the misunderstanding of innovation and how a simple financial reporting measure can cause trillions of investor dollars to be misallocated. This podcast is the most important podcast that I have produced!由Geremy van Arkel, CFA® and Shannen Carroll
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EP 14: 2022 Kick Off – What the Heck is Going On Now, with Rob Almeida - Global Strategist, MFS Investments
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To kick things off for 2022, we welcome back to the show Rob Almeida – Global Investment Strategist and Portfolio Manager for MFS Investment Management. This time around, we recap the highlights and oddities of last year, and address some of the major issues for the New Year. High asset prices, inflation, the Fed…we address it all in this sprawling…
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Beer is big business for Ambev, the dominant producer and distributor of brew in Latin America and Canada. Near-term margin pressures provide a rare opportunity to invest in this market leader at a compelling valuation. Portfolio Manager Allison Fisch and Research Analyst Lawrence Paustian discuss Pzena’s investment in Ambev on the latest episode o…
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Can we deconstruct Advisors Alpha? This is a first. We interview an investment advisor – Brandon Jansma. We figured that since most of our listeners are investment advisors, maybe we should interview one. In this episode, we define Advisors Alpha with Brandon Jansma, whom we believe to be an all-around thought leader and contemplator of finer subje…
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This year, we reported on the current themes of why interest rates are so low, what is going on in China, and whether inflation is transitory or persistent. However, we have saved one of the biggest issues for last to help prepare you for 2022 – Do Valuations Matter? With U.S. equity markets so overvalued currently – if you believe traditional valu…
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What better way to end 2021 than to talk about some heavy hitters? Spending. Taxes. China. Russia. Mid-Term Elections – we discussed it all in this interview with Libby Cantrill, Head of US Policy at PIMCO. Tune in to hear a thought-provoking discussion on some of today's hottest U.S. policy topics and the potential impact on the markets and taxes.…
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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 should largely accrue to the world’s preeminent dialysis company. Senior Research Analyst Eric Hagemann and Portfolio Manager John Flynn discuss Pzena’s recent investment in Fresenius Medical Care…
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Regulation is a four-letter word in American politics, but in China, is it business as usual? This year, Xi Jinping – the leader of the Chinese Communist Party – passed down a laundry list of regulations that resulted in cascading unintended consequences for businesses and investors alike. These new regulations address real estate construction leve…
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Risk managed small-cap equity investing? How to manage a large small-cap portfolio? Can underperforming a bull market lead to multiple market environment outperformance? For how long can poor quality businesses outperform? Why is the beta ripping Russell 2000 Small Cap Index chock full of non-profitable companies? Do these questions sound like “Jum…
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Inflation at 5%, 10-year treasury yields at 1.5%, how is that sustainable? In the post-COVID investment environment of explosive growth coinciding with inflation concerns, it seems implausible that interest rates could remain this low. However, for my entire career, investors have decried, “Interest rates are just about to rise, so watch out!”. But…
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The big macro-economic surprise in 2021 is INFLATION! The latest CPI-U year-over-year inflation print for the 12 months ending May 2021 is 5%. Regardless of whether the rise in general prices – influenced by the sectors of energy, lumber, or used cars – has been lumpy or not, it does appear that most of us are witnessing pockets of inflation in our…
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EP6: Is this the new normal, or will we return to the old normal one day? - Robert Almeida
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While you may have never heard of Frontier Asset Management, you likely have heard about MFS Funds. They manage about $500 billion in assets, and Rob Almeida is their Global Strategist! Given that the big story for strategists now is clearly “what the heck is going on with markets”, we quickly devolve from “deconstructing alpha” to all the weirdnes…
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In this episode, Geremy and Shannen interview Carl Kaufman, Co-President, Co-Chief Executive Officer, Chief Investment Officer of Osterweis funds, but more importantly, manager of the Osterweis Strategic Income Fund. With inflation fears on the horizon - leading to investors' big fear of rising interest rates - talking bonds, interest rates, and in…
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ESG analyst Rachel Segal and Portfolio Manager Rakesh Bordia examine the relationship between ESG scores and investment performance, and observe that there is a significantly stronger relationship between investment performance and a company’s potential for ESG improvement, as compared to the company’s ESG score. Recording Date: May 14, 2021 Disclo…
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Michelin’s business franchise is, in many ways, second-to-none: technical leadership, brand loyalty, and premium pricing. A comprehensive restructuring plan is aimed at delivering structurally higher profitability. Research Analyst Akhil Subramanian and Co-CIO John Goetz discuss Pzena’s research process and our view of the opportunity. Recording Da…
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Co-CIO John Goetz, energy analyst TVR Murti, and ESG analyst Rachel Segal discuss the opportunities presented by the upcoming transition for the energy sector. Recording Date: March 12, 2021 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements e…
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Listen to a discussion on value investing by legendary investors and long-time friends Joel Greenblatt (Gotham Funds) and Rich Pzena (Pzena Investment Management), moderated by investment strategist Steve Galbraith. Recording Date: March 4, 2021 Disclosure This recording is for institutional investors, and in the UK for professional investors and e…
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Geremy van Arkel of Frontier Asset Management and George Shipp of Sterling Capital Management talk about the stock market and the U.S. economy.由Geremy van Arkel, CFA®
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Geremy van Arkel of Frontier Asset Management,John Walthausen, CFA, Chief Investment Officer, and Portfolio Manager and Gerard Heffernan, Jr., CFA, Portfolio Manager of Walthausen & Co. LLC discuss long term success in security selection.由Geremy van Arkel, CFA®
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