Original Thinking, our team’s mantra for over 40 years, has led to the identification of important investment themes for the coming decades. Our Investment Committee’s most recent White Paper discusses one of the most compelling opportunities among these themes: Cloud Computing.
This report can also be found on our website at: https://advisor.morganstanley.com/the-hansberger-group/professional_insights
The Hansberger Group is proud to give back to the community and provide these supplies for the deserving children at Children's Healthcare of Atlanta.
Once again, investors are confused as to why markets are so strong in the midst of so many negative headlines. Such times are a classic example of the disconnect between macroeconomics and current events versus the stock market. The stock market and economy are cousins, but they’re not twins. All that has ever mattered in investing are principles that never change: the stock market is a voting machine, not a weighing machine. Volatility is not the same as risk. Market events are different from economic events. In the end, what matters is the future direction of corporate profits and monetary policy; everything else creates volatility but is largely just noise.
The Hansberger Group wishes everyone a Blessed Easter and Happy Passover with your loved ones!
The Hansberger Group is on deck and fully focused on all the current dislocations in financial markets, from the virus to oil shock to geopolitical news. There have been quite a number of declines up to 20% from highs over the years, all coming from unique catalysts and influences. The current upheaval is not related to structural problems in the banking system, and liquidity is immense.
Tax policy and monetary policy are very constructive. In times of stress, we most want to remind investors to focus on the companies, the actual businesses that we most want to own, as if we would own them in their entirety. This would imply truly great businesses with rare characteristics, attractive valuations, and positioned squarely in long-term themes that will likely represent significant pathways for growth.
We will continue monitoring the situation as more information flows and cooler heads prevail.
The stock market and the ownership of great businesses are two different things entirely. The former is the collective wisdom of trillions of dollars being invested by millions of people, with all its occasionally irrational and emotional behavior and fears of possibilities. The latter is the ownership of shares of specific companies – owners of shares of the business – not focused on short term events and influences but concentrating on signals, not noise, and on probabilities.
I despise market sell-offs, but there is value in such difficult periods because they challenge our investment philosophy and process. This week’s sell-off prompts yet another occasion when I find it necessary to mobilize the language of rational, calm, yet original thinking, and proven, proprietary investment advice and send it into battle.
Every year for decades, I spend a lot of time at the end of the year to review the previous year. I believe 2020 was, and it carries over to 2021, a year in which there was a significant closing of the mind in some ways, and that cannot happen to investors.
At times to me, 2020 seemed insurmountable, but there’s nothing impossible with conviction, process, prayer, and attention to the art, the science, and these principles that we talk so much about.
For more information on The Hansberger Group's investment philosophy and principles, please visit our website: https://advisor.morganstanley.com/the-hansberger-group
The IRS has announced an extension on the federal income tax filing due date for individuals for the 2020 tax year from April 15, 2021 to May 17, 2021. Take advantage of the new deadline to get organized and review these resources for helpful tips and reminders: https://mgstn.ly/3vhwdGT
