New Bull Market for Value Stocks on the Horizon? (BNN)
Kim Shannon, President and Co-Chief Investment Officer
Sionna Investment Managers
published April 29, 2020
published April 2020
posted in Insights
Waiting for Dawn
Throughout human history, irrational investors have fluctuated between fear (value) and greed (growth speculation). Behavioural psychology of finance demonstrates we are more frequently and strongly collectively moved by fear of loss. This type of emotion has not been present in our markets for a long time; however, we firmly believe it will return and will benefit patient value investors who are focused on the long term.
published March 2020
posted in Soundbites
Value Opportunities in Today’s Volatile Market
Co-CIO Stephen Jenkins, outlines where Sionna has been finding opportunities during the recent market volatility.
published January 2020
posted in Insights
Energy Stocks: Unloved, Under-Owned and Undervalued
A situation currently exists that shares some similarities to the technology craze of the late 1990s to early 2000 period. During this time, everything but technology, telecom and media companies were labelled “old economy” and shunned by most investors as they chased the growth and promises of the new economy market darlings. Today, energy stocks feel like the “old economy” stocks of 20 years ago, many being left for dead with virtually no investor interest of any significance.
published November 2019
posted in Soundbites
Value Earnings Outpace Growth Earnings
Stephen Jenkins outlines a surprising discrepancy that adds further support to the case for value.
published November 2019
posted in Soundbites
The Value Minsky Moment is Near
Kim Shannon discusses the extreme spread between value and growth, reminiscent of the year 2000.
published October 2019
posted in Soundbites
Hype Indicator Suggests Caution
Kim Shannon shares her observations about the growth of IPOs with negative earnings.
published October 2019
posted in Soundbites
Dispersion Shows How Relatively Attractive Underperforming Value Is
Kim Shannon shares her observations about a chart outlining the current dispersion between growth and value.
published October 2019
Value Investing: Art vs. Science
Some say value investing is both an art and a science. It is an art because successful investing requires judgement honed from experience, an understanding of history to recognize patterns and the emotional fortitude to shield against psychological biases. Investing is also a science because cold hard analytics can be applied. However, when investors focus too narrowly on any single metric, there is a temptation to rush to judge the attractiveness of a security or portfolio.
published September 2019
Stock Market Shakeout: Big Investors now Shun the Growth-at-all-Costs Model (The Globe and Mail)
Kim Shannon offers thoughts on the market's collective mania.