Market Update from Senior Managing Director and Portfolio Manager, Sandy Sanders
Earlier this summer we hosted an intimate gathering with Sandy Sanders, Senior Managing Director and Portfolio Manger at John Hancock Asset Management Boston, MA and Manulife Investments for some of our local clients who we have worked with extensively.
It was our pleasure to bring Sandy’s investment wisdom in such a special format. Our clients were impressed and inspired by Sandy’s intimate knowledge of the US economic situation and his access to world class business leaders like those at Bank of America and Amazon. We are very fortunate to have someone as knowledgeable as Sandy Sanders, not only to manage our money, but to share in his wisdom. He is an incredible portfolio manager whose strong returns and low risk metrics arise from decades of experience and the team of professionals with which he collaborates. Here is a great article from last fall outlining the step-by-step process Sandy shared at the event as he explained his investment philosophy and experience.
We would also like to share with you a few of our own key takeaways from the evening:
- The only time Sandy has seen today's events previously were near the bottom of the 2008 financial crisis and the .com bubble of the early 2000’s.
- We cannot time the bottom or the top of market cycles, but we can know when investments are expensive or cheap relative to norms. Run in the opposite direction to that of the world!
- When the world is fearful, be greedy, and when the world is greedy, be fearful.
- Portfolio target is to purchase companies valued at 70 cents on the dollar. The entire portfolio is currently sitting at 60 cents which is an extremely attractive entry point over the long term.
- US consumers are not as heavily debt burdened as Canadians so recessionary pressures will be felt differently across the border.
Below you will find a few photos from the evening. We look forward to hosting many more of these educational events in the future and sharing that knowledge with our clients.