Schroders' Nick Kirrage and Kevin Murphy believe out of favour sectors offer great opportunities.
So far, the events of 2011, both inside and outside the financial markets, have been dramatic – highlighting what an uncertain and unpredictable place the world can be. Resulting volatility serves as a reminder of the difficulties of attempting to forecast investor sentiment or economic developments. Instead of striving to predict factors that are inherently unknowable, as disciplined value investors we focus on those factors we can understand. By placing emphasis on cash-generative businesses with robust balance sheets, strong management teams and cheap valuations, we believe we can ...
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