| FPA Insights
FPA Crescent Fund: March 2020 Special Fund Update
FPA Crescent Interim Fund Update
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Category: FPA Insights
| FPA Insights
Risk is Where You’re Not Looking
Due to elevated valuations in many of the equities we own and a lack of distress or adequate yields in the credit markets, the FPA Crescent Fund (“the Fund”) began 2020 with a net equity exposure of ~57%
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| FPA Insights
Rare Bond Market Conditions Set Up Complacent Investors for Subpar Returns
Rarely do intermediate and high-yield bonds look risky at the same time. However, it appears they are both risky today. Intermediate-term bonds are barely yielding more than short-term bonds, and “high-yield” bonds are not yielding much more than high quality bonds.
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| FPA Insights
Two Decades of Winning by Not Losing by FPA Crescent’s (FPACX) Steven Romick
Due to elevated valuations in many of the equities we own and a lack of distress or adequate yields in the credit markets, the FPA Crescent Fund (“the Fund”) began 2020 with a net equity exposure of ~57%
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| FPA Insights
Letter to Board of Directors at Arconic dated May 4, 2017
As you know, I have argued for the removal of the legacy directors. Today’s announcement is a step in the right direction.
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| FPA Insights
Letter to Board of Directors at Arconic dated February 6, 2017
First Pacific Advisors, LLC (“FPA”) currently beneficially owns approximately 20.1 million shares of Arconic Inc. (“Arconic” or the “Company”), which represents over 4.5% of the Company’s shares.
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| FPA Insights
Today’s Case for FPA New Income, Inc.
Due to elevated valuations in many of the equities we own and a lack of distress or adequate yields in the credit markets, the FPA Crescent Fund (“the Fund”) began 2020 with a net equity exposure of ~57%
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| FPA Insights
Will Brexit spark a much-needed market revaluation?
Markets globally have reacted negatively to the British having voted to leave the European Union (EU) after more than four decades.
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| FPA Insights
Don’t Be Surprised: Speech to CFA Society of Chicago
Steven Romick, CFA, speech to CFA Society of Chicago in June of 2015
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