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The value of patience and flexibility

Jun 23, 2021

Redacción Mapfre

Redacción Mapfre

The investments made by IAC's president and senior executive, Barry Diller, have proved to be very successful, thanks in no small part to strategic thinking and patience. The company, which is part of the MAPFRE US Forgotten Value Fund portfolio, has developed significantly in recent years by bringing offline businesses to the digital marketplace.

In an joint interview with Joey Levin, CEO of IAC, in Forbes magazine, Jonathan Boyar, president of Boyar Value Group, discusses the importance of seeking out opportunities in the marketplace and the comparative advantage of "being indifferent to short-term performance if it delivers superior results over the long-term”.

In this regard, he says that IAC cannot be considered a "value" company that sells at a discount. In fact, "the shares of companies like this are usually not statistically cheap." However, he stresses that this doesn’t mean that it doesn’t represent good value at its current price levels.

For Boyar, the main strategy followed by MAPFRE AM's fund consists of acquiring shares in high-quality companies at a reasonable price. It was in December 2019 when MAPFRE's fund management unit and Boyar Value Group agreed to create this fund by going after high-quality companies at fair prices. Since the beginning of the year, the portfolio has risen 20 percent, outperforming its benchmark index and becoming one of the best-performing funds in its sector.

Click here to read the full interview.

How to invest with the stock market at maximums?

How to invest with the stock market at maximums?

We are facing a high price scenario, in which questions for investors arise: Should one enter a market that is already “expensive,” or wait? Should you hold your investments, or is it time to sell? MAPFRE experts explain that being in a moment when stock markets are at record highs should not deter investment if we have a long-term outlook—the most suitable for retail investors—and good diversification.

Fed Highlights “High Prices” in Equities: Are We Facing a Bubble?

Fed Highlights “High Prices” in Equities: Are We Facing a Bubble?

The U.S. Federal Reserve has dominated much of the economic and financial discussion in recent weeks, largely due to the debate over possible rate cuts, which were confirmed last week. On Tuesday, Chair Jerome Powell again drew attention by referring in a speech to the “fairly high” prices in U.S. equities. With Wall Street at historic highs, the question arises whether we are dealing with an equity bubble.

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