Chris Clark On Value Investing In Today’s Environment by Royce Funds
“We are in the business of buying mispriced assets, things that challenge the conventional wisdom—and the payoff can require a long-term commitment.”
On March 25, 2015, President and Co-Chief Investment Officer Chris Clark joined ClearBridge Investments Co-Chief Investment Officer and Portfolio Manager Scott Glasser and Western Asset Deputy Chief Investment Officer and Head of Global Credit Michael Buchanan for “Time, Money and Security Selection: The Art of Value Investing,” a panel discussion that emphasized the importance of a long-term investment horizon when utilizing a value strategy.
“Value is in the eye of the beholder,” said Chris. “We are in the business of buying mispriced assets, things that challenge the conventional wisdom—and the payoff can require a long-term commitment.”
The panel, which was hosted in Los Angeles and moderated by Consuelo Mack of WealthTrack, was part of an advisor forum sponsored by Legg Mason. Assessing risk, using volatility to create opportunity, and the attractiveness of stocks in today’s investing landscape were also topics of discussion.
“The impact of QE in [the small-cap space] is that businesses receiving artificial support are the ones that have been thriving,” said Chris. “But the next five years will look very different, and we are likely to see a switch in investor preferences.”
Chris Clark has 27 years of investment industry experience, seven of which at Royce. On May 20, 2014, Chris was named President of Royce & Associates, LLC, investment adviser to The Royce Funds.
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