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Mastering the Mental Game of Investing
A video series to help you develop the mindset of a successful investor.
Watch the Series68 Videos
PM Chris Davis Update on Davis NY Venture Fund
- What investors need to focus on through 2024
- Why the fund’s attractive growth and low valuations position it well for a market in transition
Lessons Learned from Charlie Munger
PM Chris Davis on the deep insights he gained from Berkshire Hathaway’s Charlie Munger on successful investing, the importance of stewardship, and “living a life in a web of deserved trust”
Davis NY Venture Fund – A Complement or Alternative to the S&P500
Our highly selective portfolio of durable companies with attractive growth – at a greater than 40% discount to the S&P500 – may be a viable compliment or alternative to index positions
A Return to Rationality
Traditional business fundamentals are finally being rewarded again, driving our performance
Investing in a Transitioning Market
The end of the “easy money” era is unwinding the market distortions of the past decade, reinventing the landscape for businesses and investors
Rising Multiples Carried the Markets through the “Easy Money” Decade. What’s Next?
With normalizing rates, companies will need to earn their higher valuations. Find lower-multiple companies with sustainable and growing margins.
Recession Coming? Timing Investment Decisions to Predictions is a Loser’s Game
Buy and hold regularly outperforms guessing the timing of the next recession. Align with companies that can ride out the storms.
What to Own and Avoid in a Changing Environment
As rates normalize, specific companies attributes may be rewarded or penalized by the markets
How does the Current Market Compare to Others?
Examples when attractive stock-picking opportunities could be found in otherwise expensive markets
Investment Themes We’re Focusing On Today
Why we’re focusing on select opportunities within Financials, Tech at a reasonable price, Healthcare and Industrials
Opportunities in Financials
We’re focusing on several categories across this underappreciated sector, with durable business models and low valuations
Why All Financials are Not Created Equal
“Financials” are often mistakenly lumped together, despite their wildly differed risk and opportunity profiles. The best are being rewarded by investors, but remain undervalued
Tech – The Magnificent 7 and Beyond
Focus on the Tech Stalwarts with reasonable valuations, in addition to the Online Giants
AI Impact Across Industries and Sectors
Ways artificial intelligence will be impacting business costs and productivity – in ways not yet reflected in their valuations
A Closer Look at Healthcare and Industrials
Demographic tailwinds benefitting Healthcare Services, a focus on electrification and energy efficiency among Industrials
How Davis NY Venture is Benefiting in this Transitioning Market
The end of the easy-money era, why fundamentals matter again and drivers of recent performance
The Return to Rationality
The bursting of the easy money bubble marks a huge transition for the markets
Investor Implications of Rising Rates
How the end of the free money era is ending the distortions of the past decade and returning rationality to the markets
The Easy Money Era – Who Was Helped
The long period of low interest rate fueled a bubble, creating widespread market distortions and irrational valuations
Companies Who Rode the Easy Money Bubble
Examples of how the low interest bubble era fueled speculation and irrational valuations
The Easy Money Era – Who Was Hurt
The long period of low interest rates punished companies who were succeeding by traditional measures
Davis NY Venture Fund – Well-positioned for the Coming Decade
Our top 15 companies grew earnings at an attractive rate while their multiples compressed – a compelling combination as the distortions of the easy money era fade
The Bursting of the Speculative Bubble
The speed of the current rate-hiking process and how it’s impacting companies who benefitted in the easy money era
What to Own and Avoid in Today’s Market
In our view, what types of companies should be avoided, and which stand to benefit from the end of the easy money era
Investment Themes We’re Focusing on Today
Tech, Semis, Financials and other themes we expect to drive returns
Navigating Headwinds with Active Management
The ever-expanding margins and valuations of the past decade are unlikely to be sustained
Evolution of the Economy is Creating Unique Opportunities
Electrification is driving copper demand, and the “decarbonizing” of energy is driving biofuels
Finding Value Stocks in a Market Dominated by the Magnificent Seven
Investors have rushed to a narrow universe of companies, driving valuations higher and placing the stocks in danger if growth disappoints
Separating Risk from Opportunity in China
Reduce potential risk by aligning with founder-led companies that have strong fundamentals and benefit from a growing middle class
Investing in World-Class International Banks
European banks often have different industry dynamics than U.S. competitors, are often the market leaders of financially-responsible countries, have high dividend yields and attractive multiples
The Case for Investing in Strong International Companies Today
After an extended period of underperformance vs the U.S., a case can be made for a turn in this cycle. Today’s 30% discount to domestic markets may offer a compelling starting point
Our PM on the Davis Global and International Funds
Portfolios built on fundamental bottom-up research. Our companies have grown faster yet trade at significant discounts to their respective index
Why We Believe Select Banks are Undervalued Today
Why we believe select banks are attractive, given their durability, long-term growth, competitive advantages, growing market share and attractive valuations.
How Investors Should Prepare for the End of the “Easy Money” Era
As rates normalize, certain business models are going to be severely challenged. What kind of companies do you want to own?
Volatility is the Price of Admission for Long-Term Returns
To benefit from the wealth-building potential of equities, investors need to understand that pullbacks and drama will be an inevitable part of the journey.
Market Distortions Caused by Historically Low Rates
We believe that select Banks may be among the best opportunities in the market today, as investors significantly overestimate the risks and underestimate the upside potential of these durable businesses
Equities Role During Periods of Inflation
How inflation quietly eats away at the purchasing power of consumers and how Equities – while volatile in the short term – can help investors build long-term wealth faster than inflation can degrade it
Davis NY Venture Fund – A Portfolio in the Sweet Spot for the Coming Decade
A portfolio of resilient, growing, cash-generating businesses – undervalued over a decade when low-interest rates deemed those attributes unnecessary
“Fragile Value” & “Speculative Growth” Areas to Avoid
Identifying vulnerable companies in both the Value and Growth camps – each dangerous in their own ways
The Incredible Value Advisors Can Add During Volatile Markets
How the guidance of a financial advisor can help investors successfully build wealth as they navigate inevitable market volatility.
Recession Potential and Impact on Portfolio Positioning
Predicting is futile. Buy businesses that have proven resilient through the inevitable storms. Investors are now being reminded of the critical importance of business durability.
Why Successful Investors Keep Emotions in Check
How emotion can impact the ability of investors to successfully compound wealth and the importance of partnering with a financial advisor.
Why Investors Should Disregard Short-Term Forecasts
Market forecasters have a terrible record of predicting the future. Investors influenced by them may be sabotaging their returns.
Recognize that Market Declines are Inevitable
10% market corrections happen once a year on average. Don’t allow these inevitable pullbacks to sway you from your investment plan.
Correlation Does Not Equal Causation
The danger of investment products built on back testing. Markets continuously evolve and factors that seemed to have worked in the past may not work going forward.
You Always Sound Smarter when You’re Bearish
The vast majority of factors across society and around the world have improved massively for decades. Betting against long term progress is a loser’s game.
Volatility – Emotion = Opportunity
How an unemotional investment approach can allow investors to see opportunity more clearly.
How Inflation Impacts Portfolio Positioning
The types of companies that may continue to thrive if inflation increases.
Tuning out the Tweets
The most important lessons on successfully compounding wealth from our 50 years in the equity markets
The Importance of Healthy Investor Behavior
Chris Davis on common pitfalls that often sabotage an investor’s return and how advisors can help.
Davis Advisors: Proven Active Management
Chris Davis on his firm’s time-tested, benchmark-agnostic investment approach, and two fundamental questions that lie at the heart of their research process.
The $1000 Hot Dog
Chris Davis tells Barron’s about the powerful lesson his grandfather taught him about thrift, financial independence and the miracle of compounding.
Experience, skin-in-the-game and low fees
Three important attributes of successful fund managers
Charlie Munger & the Fishing Lure
Chris Davis shares Berkshire Hathaway investing legend Charlie Munger's humorous wisdom on the futility of forecasts and predictions.
$2 Billion Invested Alongside Shareholders
Our exceptional co-investment ensures that we focus on generating attractive returns, managing risk and minimizing expenses.
Where is the Market Headed from Here?
No one can consistently predict the markets over the short term, yet there are ways to invest with confidence to reach your long-term goals.
Wisdom from Buffett, Munger & Graham
The profound influence these investment icons have had on our firm and philosophy.
Investment Lessons from My Grandfather & Father
“You make most of your money in a bear market, you just don't realize it at the time”, and other key insights.
The “Mistake Wall”
How the mistakes hung on the wall of our research department help us to improve investment returns.