Skinny dipping

It has been a magnificently bad start to the year for equity markets. According to commentators, one of the worst, if not the worst, start to a January on record. While episodes like this can be painful for investors, they can also serve to highlight how dependent many investment strategies really are on the direction the wind is blowing at any point in time. As Warren Buffett famously said, you only find out who is swimming naked when the tide goes out. There is no perfect approach to investing in markets, but one of our key aims at the Global Value Fund is to protect shareholder capital during market episodes such as this. We recently hosted a series of investor presentations around Australia discussing how we manage risk at the fund. A video of this presentations is now available here: (VIEW LINK)