UPDATE: It's a 'golden age' for activist investors, but not us
UPDATE: Family Dollar fights the billionaires at the gate
Peltz's Trian Plants Its Flag in BNY Mellon - 3nd Update
Some static in the Comcast-TWC tie-up, Yellen and Pepsi stay the course, and slow and steady pays dividends for Realty Income.
Our top managers remain cautious, focusing more on relative valuation and increasing their willingness to book gains in the face of a rising (but potentially overvalued) market.
Our top managers continue to focus on higher-quality businesses rather than seeking out bargains in a market that (in many of their minds) has become fully valued.
Corporate credit spreads are fairly valued--albeit at the tight end of the range that we view as fairly valued.
Widening investment-grade credit spreads and rising interest rates lead to losses.
Modest pockets of value emerge among consumer defensive companies.
Despite the distraction created by the proxy fight H.J. Heinz HNZ has waged with activist investor Nelson Peltz for much of the year, the company reported better-than-expected results for its fiscal first quarter. While we are comfortable with our long-term assumptions for the company, we are ...