Topic: How To Invest

What is Pat’s commentary for the week of July 13, 2021

Article Excerpt

Here’s the text of my latest letter to our Portfolio Management clients, sent in May: “We’ve often written about an attractive market pattern that has paid off for us over the years. This pattern emerges when the following two factors come together to create what we’ve called a “double-barrelled buying opportunity”: Investors generally are fearful and have low expectations for stock-market performance; and There’s a lot of hidden value in the stock market—that is, value that is not widely recognized by investors. These two factors work together to improve your chances of making money in the stock market. To top it off, they can work their magic together for years at a time. The impact is subtle but can have great cumulative benefits for your investment returns, regardless of whether you’re a conservative or aggressive investor. Note that in factor 1, “fearful” and “low expectations” are relative terms. When we talk about this pattern, we mean investors are unduly concerned about one or…

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