The latest update from Frank Jasper, chief investment officer at Fisher Funds. ---------------------------------------------------------------------------------------------------------------
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Finding great companies to invest in during the coronavirus crisis.
Much of what we are looking for stays the same as always but some company attributes have become more important than ever.
Fisher Funds has a time proven investment approach we call STEEPP. Using our STEEPP investment process we seek out well managed, high quality companies that can grow profits over time.
History shows that if a company can consistently grow it earnings or profits investors will ultimately be rewarded with a higher share price. That rarely happens in a straight line. As we are experiencing right now there are almost always setbacks along the way, but over our 21 year history that formula of quality, growth and great management has worked and worked well.
We believe it will continue to work well through this crisis although there are things we are putting extra emphasis on.
We still look for businesses that will be able grow profits over many years. We still want to invest alongside the best managers and boards we can find.
Where we are really focusing our microscope right now is on “Business quality” or Strength as we refer to it in our STEEPP process.
We want to ensure the companies we own are the leaders in their field.
We need to ensure they are financially sound with a robust balance sheet and clear strategies to manage costs.
And we want to ensure that they can use this crisis to gain share and position themselves well for the inevitable post coronavirus recovery.
Great companies emerge from tough times stronger than they went in. Those are the companies we want to own right now and good news is that many of them are available at really attractive prices.
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