Why valuations, not forecasts, still matter most

In this edition of his Quarterly Insights article, Richard Oldfield, Founder and Chair/Partner of Oldfield Partners, reflects on the: • Importance of factoring in macroeconomic factors, even if the overall investment approach is on the quality of companies • Near-term economic impact of the Strait of Hormuz’s closure • Vital role geographical diversification can play in portfolio allocations • Earnings yield of the US stock market, and how it compares to Oldfield Partners’ portfolios Read the full article for a closer look at the conflict in the Middle East’s impact on economies...