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So far Poplar Forest Research has created 41 blog entries.

March 31, 2022 Quarterly Letter

2022-05-23T15:36:38+00:00

These days, the investment highway seems more treacherous than an L.A. freeway in a rainstorm. Defensive techniques aren’t just for driving. Value has become defensive again, just as it was in the aftermath of the late 1990s Tech Bubble.

March 31, 2022 Quarterly Letter2022-05-23T15:36:38+00:00

Questions of Value — What Do You Have to Believe For Growth to Outperform Value

2022-03-21T23:21:38+00:00

This is the first in a series of memos in which we will address common questions from our clients about the Partners Strategy and Value investing. In this insight, we discuss why we believe the value opportunity in our Financial Services holdings is compelling in the current interest rate environment.

Questions of Value — What Do You Have to Believe For Growth to Outperform Value2022-03-21T23:21:38+00:00

December 31, 2021 Quarterly Letter

2022-01-07T22:26:14+00:00

Poplar Forest’s portfolios are currently valued at one of the largest price-to-earnings discounts to the S&P 500 since we’ve been in business. In effect, the market is suggesting that the outlook for our companies is less attractive than it has ever been. We disagree. Our companies may be underdogs, but when we look out over the next 3-5 years, we believe that their fundamentals will more than beat the spread.

December 31, 2021 Quarterly Letter2022-01-07T22:26:14+00:00

Questions of Value — Interest Rates and Financial Services Stocks

2021-11-18T15:51:28+00:00

This is the first in a series of memos in which we will address common questions from our clients about the Partners Strategy and Value investing. In this insight, we discuss why we believe the value opportunity in our Financial Services holdings is compelling in the current interest rate environment.

Questions of Value — Interest Rates and Financial Services Stocks2021-11-18T15:51:28+00:00

September 30, 2021 Quarterly Letter

2021-10-04T17:03:47+00:00

With the economy getting back to normal more quickly than expected, the U.S. Federal Reserve will soon start the multi-year process of normalizing monetary policy. In the face of potentially rising interest rates, investor worries are growing: stocks look expensive, bond prices go down when yields rise, and cash earns nothing. But, there is a fourth option: value stocks.

September 30, 2021 Quarterly Letter2021-10-04T17:03:47+00:00
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