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Portfolio Manager John McClain, CFA, joins us to discuss why we find the BBB segment of the fixed income market compelling and where opportunities lie in the space.

(disclosure)

The views expressed are those of Diamond Hill as of April 2019 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

As of February 28, 2019, Diamond Hill owned shares of Ford Motor Credit Co. LLC; General Motors Financial Co., Inc.; Netflix, Inc.; and Altria Group, Inc.

Aircraft Engine Manufacturers: Providing the Thrust
Industry Perspectives: A Monthly Research Analyst Series
By Harsh Acharya, CFA
Delayed profitability makes commercial aircraft engine manufacturing companies susceptible to being undervalued, a fact that is especially evident to us as long-term investors.
Copa Holdings: Flying Below the Radar
Industry Perspectives: A Monthly Research Analyst Series
By Suken Patel, CFA
While the airline industry has a well-deserved reputation as an investing graveyard, Copa breaks this mold.
The “Edge Effect” in Investing: Advantages of a Global Mindset
Industry Perspectives: A Monthly Research Analyst Series
By Krishna Mohanraj, CFA
For investors, a global mindset is no longer just an edge, it has become table stakes for success.
Not All Mortgages Are the Same
Fixed Income Perspectives: An Educational Series
By Douglas Gimple
  • The mortgage-backed securities market has grown into a diverse market, offering investors a multitude of differentiated products to meet specific needs.
  • Agency and non-agency mortgage-backed securities have historically provided attractive yields and high credit quality, as well as a wide variety of available securities.
  • The market is complex and ever-evolving, but there are opportunities for managers to leverage different types of mortgage-backed securities to mitigate risk.
  • At Diamond Hill, we believe security selection is key and apply a bottom-up approach to identify, and capitalize on, market inefficiencies.
Stericycle: Waste Not, Want Not
Industry Perspectives: A Monthly Research Analyst Series
By Laura O’Dell, CFA
We believe that the recent stock depreciation is a market overreaction to near-term headwinds that are hiding the true long-term potential of the underlying business.
"We believe that thorough coverage of many domestic industries increasingly requires thorough coverage of international industries."
The Evolution of the Asset-Backed Securities Market
Fixed Income Perspectives: An Educational Series
By Douglas Gimple
  • Growth in the asset-backed securities (ABS) market over the past 10 years has provided diversification and strong risk-reward characteristics in a sector largely ignored by the Bloomberg Barclays U.S. Aggregate Index.
  • As growth in some historic sectors of the ABS market slows, the emergence of new securitization sectors has expanded the opportunities available to investors.
  • The Diamond Hill fixed income team is able to exploit some of the pricing inefficiencies in the ABS market through our bottom-up analysis, along with our deep understanding of deal structures and the companies bringing them to market.
Bargain Shopping in China Amidst Trade Wars
Industry Perspectives: A Monthly Research Analyst Series
By Kyle Schneider, CFA
While we hope for an amicable resolution to the trade dispute, Weigao should be a relative winner in the current economic climate.

Portfolio Manager John McClain, CFA, joins us to discuss recent developments in the high yield market and how volatility can provide opportunity for investors focused on security selection. After the difficulties of the previous month and the rough start to November, our high yield team believes that opportunities have been uncovered if investors focus on long term fundamentals.

(disclosure)

The views expressed are those of Diamond Hill as of November 2018 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

The ICE BofA Merrill Lynch U.S. High Yield Index tracks the performance of U.S. dollar denominated below investment grade corporate debt publicly issued in the U.S. domestic market. As of August 31, 2018 Diamond Hill held TEVA, GM, F, and GE.

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