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 ...
