The Rules of Investing Andrew Mitchell: The market always wins
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May 24, 2025 Andrew Mitchell, founder and senior portfolio manager at Ophir Asset Management, navigates the complexities of the current equity market landscape. He discusses the challenges posed by rising bond yields and the need for adaptability amid recession concerns. Mitchell emphasizes the potential of small and mid-cap stocks, shares insights on a promising tech company under the radar, and highlights the vital role of strong management teams in driving investment success. His optimistic outlook showcases the importance of resilience in market strategies.
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Market Rally Amidst Earnings Pause
- Despite earnings stagnation and rising bond yields, markets continue to rally driven by multiple expansion.
- Volatility and pullbacks create opportunities to buy great companies at better valuations.
Value of Growth Quietly Rising
- Slowing global growth increases value in companies that can grow through any economic cycle.
- Investors will shift towards resilient growth stocks as economic indicators weaken.
US Companies' Guidance Withholding
- Early in 2023, US companies withheld guidance fearing economic turmoil that didn't materialize.
- Cautious pessimism was corrected as markets stabilized, showing the unpredictability of economic reactions.
