Equities: Is the value rotation over… or is the best yet to come?

Tony Coniaris, Harris Associates, explains how the firm seeks to take advantage of the ups and downs in market cycles by staying true to its time-honored philosophy and process.

Tony Coniaris, partner, chairman and portfolio manager, Harris Associates, answers questions around their value approach and whether value still has something to offer. Some highlights from this conversation include answers to such questions as:

  • Has the value rally run out of steam, or is the best yet to come?
  • As a bottom-up stock picker, how do you think about the changing economic cycle versus business valuation?
  • What is Harris’s average holding period and does that change during times of volatility?
  • Intrinsic value versus relative value: is one better than the other?
  • Can value managers really do ESG?
  • When do you expect corporate profits to peak?
This material is provided for informational purposes only and should not be construed as investment advice. The views and opinions expressed are as of 16th June 2021 and may change based on market and other conditions. There can be no assurance that developments will transpire as forecasted. Actual results may vary.

Harris Associates L.P. - An affiliate of Natixis Investment Managers. Investment adviser registered with the U.S. Securities and Exchange Commission (IARD No. 106960), which is licensed to provide investment management services in the United States. 111 S. Wacker Drive #4600 Chicago, IL 60606, USA.