Resilient Equity in a Volatile World Investment Lunch

Presentation: Seeking Resilience and Navigating Risk with a Long-Term Perspective

Speakers: Matt McLennan, co-head and portfolio manager, and Julien Albertini, portfolio manager and senior research analyst, from the Global Value team at First Eagle Investments

Matt McLennan, co-head and portfolio manager, and Julien Albertini, portfolio manager and senior research analyst, from the Global Value team at First Eagle Investments will discuss how they are navigating the risks, uncertainties and vulnerabilities of the current environment with a value-oriented philosophy that seeks investments with the potential to demonstrate resilience across multiple states of the world. For more than 40 years, the Global Value team has sought to generate real absolute returns across business cycles through upside capture and downside mitigation. Matt and Julien will explore:

• How does the Global Value team discern systemic risks and vulnerabilities—like unrelenting geopolitical tensions and unrestrained government debt—from the freeform market uncertainty that cannot be quantified and thus managed?
• Why they focus on assets that we believe demonstrate scarce quality and value may simultaneously provide opportunity and ballast in a portfolio.
• Why active avoidance of areas of the market that don’t meet our strict underwriting standards—whether individual stocks, sectors or regions/countries—has partially contributed to a historical track record of successfully preserving capital.
• First Eagle’s structural allocation to gold, which has been used as a store of value for millennia, complements our security selection and serves as a potential hedge against extreme market outcomes.

Matt is a sought-after authority on global equity markets and was featured in William Green’s seminal book Richer, Wiser, Happier, which distills lessons from some of the world’s most successful investors about wealth, life, decision-making and long-term thinking.