Portfolio manager Ramona Persaud analyzes the current market trends and opportunities driven by the global economic reboot. Ramona likes to think with a long-term investment horizon, and believes that being extremely tactical today can create a lot of value for investors in the long term. Even though we’re in a muted valuation scenario, Ramona still believes there is good value in deeply cyclical areas. Many areas that are most affected by the virus (such as financials and consumer discretionary) still face dislocations. For this reason, she owns both quality companies and those which are exhibiting dislocated value. Although the market is signalling that this crisis is a passing situation, like a natural disaster, it hasn’t taken into consideration how we’ll pay for it. Ramona is focusing on the extent this is being implied in valuations.
Recorded on July 8, 2020.