Excess Returns A $33 Billion Value Manager Who Has Actually Outperformed | Scott McBride
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Feb 13, 2025 Scott McBride, CEO and portfolio manager at Hotchkis and Wiley, shares his two decades of experience in value investing at a $33 billion firm. He discusses how market sentiment can create long-term opportunities and the significance of company governance over traditional valuation metrics. McBride emphasizes the importance of team culture, a contrarian mindset, and the benefits of analyzing less-covered stocks. He also touches on the impact of AI and the potential in international markets, particularly in Europe and the UK.
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Keys to Investment Success
- Success in investing requires a great team and the right culture.
- Focus on long-term thinking and be comfortable with contrarian positions.
Market Sentiment and Opportunity
- Market sentiment and emotion create opportunities for long-term investors.
- Don't focus on short-term value, but rather on long-term opportunities.
Navigating Bear Markets
- Focus on company quality, strong balance sheets, and good governance.
- Prepare for market downturns by investing in resilient businesses.