Articles tagged as "BAT"
COVID-19: Evaluating market risk versus opportunity
We have managed our portfolios through a range of different crises since 1974. Over the last 20 years, the dotcom collapse in 2001/02, the global financial...
The year of payback
Excess returns from the FTSE/JSE All Share Index (ALSI) relative to cash have disappointed over the last five years, with cash now outperforming, on average....
Equity Fund update: Taking a look at British American Tobacco
2018 was a disappointing year for South African equity investors, with the FTSE/ JSE All Share Index returning -9%. The good news is that based on our resear...
The global opportunity set
Orbis does not invest in "the market". Instead, they focus entirely on finding the most compelling individual opportunities on offer. There's no better way t...
Balanced Fund update: What is a 'high-quality' company?
The Fund’s performance over the past quarter was helped by overweight positions in Standard Bank and Impala Platinum, and by underweight positions in SABMill...
How 'active' is your manager?
Regular readers of our commentaries will know that we follow a valuation-based investment philosophy. At the same time, we are not afraid of investing contra...
