Our first-quarter commentary focuses on a pair of companies that you will not find among our holdings: one that has been publicly traded for almost a century while the other made its public debut just in the last few weeks.
Despite competitive changes to their industries, we believe the growth opportunity is still alive for Consumer Staples companies that are investing in their brands and in new ways to connect with their customers.
Companies worldwide are pursuing digital transformation to improve their returns on capital, capture new growth opportunities, and fend off rivals. But the returns from such projects may be greatest for companies in developing countries.
As investors, we always seek growth, even in places where it is not readily apparent. Despite Japan’s dismal economic performance, some Japanese companies are managing to grow. Our investment challenge is to find them.
Many ways to invest: products for institutions and individuals
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