ENDP - Miller Value Partners Deep Value Strategies 3Q 2020 Letter
- Miller Value Partners is a value investor. It values businesses, and not just stocks, and invests in them for the long term.
- During the third quarter, the Deep Value Strategy led the overall marketplace and S&P 1500 Value index, generating returns in excess of 25%.
- While cyclicals have been adversely impacted by the Covid-19 led recession, themarket seems to be forgetting that cyclicals should also be some of the biggestbeneciaries from the ongoing economic recovery.
- The Deep Value Strategy today has a normalized earnings yield greater than 25% and greater than 40% normalized free cash flow yield which are multiples of the overall market today.
For further details see:
Miller Value Partners Deep Value Strategies 3Q 2020 Letter