Investing through Adversity - Chris Davis on Consuelo Mack’s WealthTrack
The mindset that fosters investing success through difficult markets; emerging opportunities for long-term wealth building
- 0:00 How the resilience and adaptability of the U.S. economy has allowed us to recover and thrive following previous crises
- 2:00 Why we believe today is more like the aftermath of 9/11 than the Great Recession
- 6:50 “You make most of your money in a bear market, you just don’t realize it at the time” – Shelby Cullom Davis
- 9:45 The characteristics that help a company to survive and thrive through a crisis
- 11:00 Why well-capitalized Financials may be significantly mispriced and offer an attractive opportunity
- 14:00 Four investment themes we are focusing on now
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Prospectuses and Forms
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Davis Advisors paid MackTrack Inc. their customary licensing fee to reprint this video. MackTrack Inc. is not affiliated with Davis Advisors, and Davis Advisors did not commission MackTrack Inc. to create or publish this video.
This video includes candid statements and observations regarding investment strategies, individual securities, and economic and market conditions; however, there is no guarantee that these statements, opinions or forecasts will prove to be correct. These comments may also include the expression of opinions that are speculative in nature and should not be relied on as statements of fact.
Objective and Risks. Davis New York Venture Fund’s investment objective is long-term growth of capital. There can be no assurance that the Fund will achieve its objective. The Fund invests primarily in equity securities issued by large companies with market capitalizations of at least $10 billion. Some important risks of an investment in the Fund are: stock market risk: stock markets have periods of rising prices and periods of falling prices, including sharp declines; common stock risk: an adverse event may have a negative impact on a company and could result in a decline in the price of its common stock; financial services risk: investing a significant portion of assets in the financial services sector may cause the Fund to be more sensitive to problems affecting financial companies; foreign country risk: foreign companies may be subject to greater risk as foreign economies may not be as strong or diversified. As of December 31, 2019, the Fund had approximately 24.8% of assets invested in foreign companies; headline risk: the Fund may invest in a company when the company becomes the center of controversy. The company’s stock may never recover or may become worthless; large-capitalization companies risk: companies with $10 billion or more in market capitalization generally experience slower rates of growth in earnings per share than do mid- and small-capitalization companies; manager risk: poor security selection may cause the Fund to underperform relevant benchmarks; depositary receipts risk: depositary receipts may trade at a discount (or premium) to the underlying security and may be less liquid than the underlying securities listed on an exchange; emerging market risk: securities of issuers in emerging and developing markets may present risks not found in more mature markets; fees and expenses risk: the Fund may not earn enough through income and capital appreciation to offset the operating expenses of the Fund; foreign currency risk: the change in value of a foreign currency against the U.S. dollar will result in a change in the U.S. dollar value of securities denominated in that foreign currency; and mid- and small-capitalization companies risk: companies with less than $10 billion in market capitalization typically have more limited product lines, markets and financial resources than larger companies, and may trade less frequently and in more limited volume. See the prospectus for a complete description of the principal risks.
Davis Advisors is committed to communicating with our investment partners as candidly as possible because we believe our investors benefit from understanding our investment philosophy and approach. Our views and opinions include “forward-looking statements” which may or may not be accurate over the long term. Forward-looking statements can be identified by words like “believe,” “expect,” “anticipate,” or similar expressions. You should not place undue reliance on forward-looking statements, which are current as of the date of this report. We disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events, or otherwise. While we believe we have a reasonable basis for our appraisals and we have confidence in our opinions, actual results may differ materially from those we anticipate.
The information provided in this material should not be considered a recommendation to buy, sell or hold any particular security. As of 12/31/19, the top ten holdings of Davis New York Venture Fund were: Alphabet Inc., 8.09%; Wells Fargo & Co., 6.61%; Berkshire Hathaway Inc., 6.17%; Capital One Financial Corp., 6.05%; New Oriental Education & Technology, 5.59%; United Technologies Corp., 5.16%; Amazon.com, Inc., 5.10%; JPMorgan Chase & Co., 5.00%; Facebook Inc., 4.41%; and Applied Materials, Inc., 4.34%.
Davis Funds has adopted a Portfolio Holdings Disclosure policy that governs the release of non-public portfolio holding information. This policy is described in the prospectus. Holding percentages are subject to change. Visit davisfunds.com or call 800-279-0279 for the most current public portfolio holdings information.
Shares of the Davis Funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested.
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