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Those Underestimated Airlines
Blog | September 10, 2020
By Blake Haxton, CFA
It’s clear airlines caught the brunt of COVID shutdowns. But what has surprised the market most over the past five months? Research analyst Blake Haxton, CFA, discusses some unexpected developments.
Catch up on the latest developments in the securitized market, including where consumer default levels stand today, with our August fixed income commentary.
Is Higher Inflation Looming?
Blog | September 4, 2020
By Grady Burkett, CFA
With inflation low worldwide but the longer-term outlook uncertain, how should international investors respond? Hear from international portfolio manager Grady Burkett, CFA.
Growth has been outpacing value for some time, but that’s increasingly a function of a narrow slice of mega-cap stocks that have been outperforming. For long-term investors who know where to look, we believe there are still opportunities available.
Fixed income portfolio manager Bill Zox projects new corporate bond issuance will exceed 20% of total outstanding corporate debt in 2020—enabled by the Fed’s massive buying power.
CIO and portfolio manager Austin Hawley discusses the growth versus value gap, and why identifying businesses selling at a discount to intrinsic value remains a viable approach.
The Fed’s facilities to buy corporate bonds seemed to have instilled some confidence—despite being little used—giving us insight into the health of corporate markets.
Fixed income portfolio manager Bill Zox discusses what US high yield investors can learn from the ECB’s intervention in European credit markets—and what the opportunity is today.
We are now a little over three months past the peak of recent market uncertainty—the day the U.S. government announced its multi-prong efforts to stimulate and support financial markets and the economy.
To understand how close we are to herd immunity for COVID-19, we need to understand the role of T-cells. Research analyst Chendhore Veerappan, PhD, CFA, discusses the challenges behind T-cell tests.
With high yield spreads materially narrower than the 1,087 basis point (bps) peak on March 23, many investors are asking whether the high yield market opportunity has already passed. A follow-on, related question is whether further, sharp disruptions could create...
The solvency and strength of consumers remain open questions, given the historic unemployment spike since the onset of the COVID-19 pandemic. The 2008-2009 Great Financial Crisis (GFC) is often used as a measuring stick to evaluate consumers’...
(For more, please listen to our recent podcast.) The current market environment has been challenging for bank stocks, with many trading below tangible book value amid concerns over the potential balance sheet impact of the pandemic. Banks are also contending...
Are meat shortages the next challenge consumers will face due to COVID-19? If so, why would a global pandemic impact the supply of protein? What’s going on?
A data leak in Gilead Science’s clinical trial of the antiviral remdesivir as a therapy for the virus causing COVID-19 is generating some excitement. Our view is the data are directionally encouraging, but without further information, that is as far...
It’s Not a Sprint…
Podcasts | April 22, 2020

Portfolio Manager John McClain discusses how the mental toughness and preparation required for running marathons helps make him a better, more balanced investor.

(disclosure)

The views expressed are those of Diamond Hill as of April 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

What a difference a few weeks make. Since our last blog post, High Yield Update: Pricing for Recession?, unprecedented actions taken by the Fed, the Treasury and Congress have injected some welcome confidence back into credit markets. Here, we answer...
COVID-19 Business Update from CEO Heather Brilliant.
Our Long-Short Fund portfolio managers discuss why the Fund’s long track record and straightforward approach are differentiators in the alternatives space.
Tremendous financial market volatility continues. Last week (March 16-20), we also saw historically wide spreads in credit markets and liquidity dried up even in the market for government bonds. The highly unusual fixed income environment exacerbated equity volatility since fixed...
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