- PEJ oversees a concentrated portfolio of meticulously selected U.S. high-quality leisure & entertainment names. In the current version, it is overweight in solidly profitable companies with growth characteristics.
- The tempestuous 2022 so far has vividly illustrated the importance of taking the value factor seriously. It would be more reasonable to opt for a better-balanced mix of profitability & valuation.
- I believe that despite an over 19% price decline since the beginning of the year that might misleadingly provoke buy-the-dip thoughts, the fund deserves a Hold rating at best.
For further details see:
PEJ: A Reopening Play Battered By Inflation And Its Repercussions