Matthew McLennan–Value Investor seeing value in GOLD

Matthew McLennan runs the First Eagle Global Fund, taking over legendary value investor Jean Marie Eveillard.

4:10: What is wrong with the financial world
6:00: Generation low saving rate versus generation high corporate cash
6:30: Where he sees vulnerabilities, unstable political Europe, Asia instability due to China low investment and fighting with neighbors
8:30: Middle East complex
10:00: Government debt problems
11:30: Their strategy, 70% Equities, 20% Cash, not much margin of safety selection to be identified, 10% Gold
13:50: Gold is a hedge against uncertain times, and Gold Miner stocks have retraced a decade. While there are equity risks to it, they are certainly an interesting place to be. Goldcorp (GG),Fresnillo (FRSE)
15:20: They were early in Japan at Single PE. They have been net seller of Japan business
16:51: Fanuc Corp ADR (FANUY) 60% market share long term business
18:30: Hoya Corporation
20:00: Microsoft, corporate royalty, utterly misunderstood, high switching cost then people believe
21:47: One investment – GOLD

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Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.

Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.

Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.

You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.

His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.

You can read more about Kyith here.

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