“*There’s a lot of noise in markets today: Keeping an eye on big picture developments and avoiding the daily barrage of dramatic headlines is key for investing in this environment.*Income Over Interest Rates: The current environment offers a unique opportunity to lock in high-quality yield with minimal duration risk, we continue to like optimizing for income.*Equity Shifts: Diversifying some equity exposure, especially into regions and sectors that have been less favored recently, is attractive today. Though we maintain the thesis of owning companies with fast rivers of cash flow. One of the textbook drivers of alpha is an information edge. Having more information, advanced ways to use that information, and the ability to react to it before anyone else has been a massive advantage throughout the history of markets. Taking this at face value would imply that incorporating more information is always better. In reality, one of the most important skills in investing is determining what information is relevant and what is just noise.”
Morten W. Langer
