67 WALL STREET, New York - December 5, 2012 - The Wall Street Transcript has just published its Global Investing Strategies Report offering a timely review of the sector to serious investors and industry executives. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Global Investing - Investment Risk Management Strategies - Emerging Market Growth Dynamics - High Quality Companies
Companies include: Canadian Imperial Bank of Commerce (CM), Sun Life Financial Inc. (SLF), and many others.
In the following excerpt from the Global Investing Strategies Report, an experienced asset manager discusses the investment methodology of his firm for investors:
TWST: Please tell us about the firm's investment philosophy.
Mr. Bry: The way I would qualify our approach is one which looks for companies with sustainable business models. We are very focused on shareholder returns, free cash flow and how that cash flow gets either reinvested in the business or given back to shareholders.
As you probably know, the Canadian market is a fairly concentrated one. There are three sectors that really make up about 70% of the market - that would be materials, financials and energy. When you apply that to natural resources, whether it be energy or raw materials, which is really mining and gold mining for the most part, you look again for companies with very good quality resources, and we have a bias toward high-quality companies, no matter what sector we're looking at and that is really our primary focus.
TWST: How do you define high-quality companies? What does that mean to you?
Mr. Bry: High quality means sustainability, and that means barriers to entry. By quality, we also look at the historical returns the company has generated, what is the quality of management in terms of the ability and their history when it comes to execution.
When it comes to materials or energy, it's a question also...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.