CIO Matthew Stadelman leads our expert panel of portfolio managers through the events that shaped markets in 2023 and where investment opportunities await in 2024 and beyond. (56 min video)
As of 30 November 2023, Diamond Hill owned shares of The Allstate Corp, Amazon.com Inc, American International Group Inc, Bank of America Corp, Berkshire Hathaway Inc, Caterpillar Inc, Extra Space Storage Inc, Ferguson plc, General Motors Co, Alphabet Inc, Deere & Co, KKR & Co, Marsh & McLennan Cos Inc, Microsoft Corp, Nasdaq Inc, Regal Rexnord Corp, SBAC Communications Corp, SS&C Technologies Holdings Inc, Target Corp, The Hartford Financial Services Group Inc, Truist Financial Corp, Union Pacific Corp, Visa Inc and Wells Fargo & Co.
As of 30 September 2023, Diamond Hill owned debt in Amazon.com Inc, Bank of America Corp, Extra Space Storage Inc, General Motors Co, John Deere Capital Corp, Truist Financial Corp, Visa Inc and Wells Fargo & Co.
S&P 500 Index measures the performance of 500 large companies in the US. Bloomberg US Aggregate Bond Index measures the performance of investment grade, fixed-rate taxable bond market and includes government and corporate bonds, agency mortgage-backed, asset-backed and commercial mortgage-backed securities (agency and non-agency). The index is unmanaged, includes net reinvested dividends, does not reflect fees or expenses (which would lower the return) and is not available for direct investment. Index data source: Bloomberg Index Services Limited. See diamond-hill.com/disclosures for a full copy of the disclaimer.
Convexity is used to measure a portfolio's exposure to market risk and is the curvature in the relationship between bond prices and bond yields. Convexity demonstrates how the duration of a bond changes as the interest rate changes. If a bond's duration increases as yields increase, the bond is said to have negative convexity. If a bond's duration rises and yields fall, the bond is said to have positive convexity.
The views expressed are those of the speakers as of December 2023 and are subject to change without notice. These opinions are not intended to be a forecast of future events, a guarantee of future results or investment advice. Investing involves risk, including the possible loss of principal. Past performance is not a guarantee of future results.