2024-07-09 10:55:00 ET
Summary
- ClearBridge is a leading global asset manager committed to active management. Research-based stock selection guides our investment approach, with our strategies reflecting the highest-conviction ideas of our portfolio managers.
- The Strategy outperformed its benchmark in the second quarter, led by stock selection in the IT sector.
- The challenge for value-disciplined investors is that long-term winning often comes with short-term losing, and navigating it is a critical part of our investment process.
- Given extreme levels of concentration and historically low levels of volatility, we are well-positioned to adapt to surprises that would wake a complacent market.
By Reed Cassady, CFA, Sam Peters, CFA, & Jean Yu, CFA, PhD
Embracing the Uncertainty You Can't Escape
Market Overview
In a recent commencement speech, eight-time Wimbledon champion Roger Federer noted that despite winning almost 80% of his 1,526 matches, he only won 54% of the points. His message is powerful: perfection is impossible, and that after each point you must quickly learn and then move on, "because it frees you to fully commit to the next point and the next point after that, with intensity, clarity, and focus." Federer's true strength was overcoming short-term noise and setbacks to remain focused on the long-term signal of winning....
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For further details see:
ClearBridge Value Equity Strategy Q2 2024 Commentary