DELL - Patient Capital Management Opportunity Equity Strategy Q1 2024 Commentary
2024-04-18 13:05:00 ET
Summary
- Patient Capital Management are long-term, contrarian, value investors focusing on growing wealth through Time, not Timing. We operate with the singular purpose of serving clients and helping them enhance their long term investment returns.
- Patient Opportunity Equity strategy advanced 11.8% net of fees in the first quarter, beating the S&P 500’s 10.6% gain.
- Low multiple stocks’ recent outperformance might surprise you given talk of the dominance of the Magnificent 7 - these darlings have continued to lead, up 16.5% on average over the period but the gains didn’t come at the expense of classic value’s recovery.
- We are still in a bull market, but valuations, cost of debt and sentiment are higher, and in this environment, we think being more opportunistic makes sense.
By Samantha McLemore
A Differentiated View on Diversification
Patient Capital Management Opportunity Equity Strategy Q1 2024 Commentary"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change." - Misquote by Charles Darwin