The Outlook for Value Stocks, Inflation and More

December 21, 2020

In this video conference call, Prospector Portfolio Managers John Gillespie, Kevin O’Brien (CFA), Jason Kish (CPA, CFA) and Steve Labbe (CFA) and Stacy Havener, Founder & CEO of Havener Capital Partners, discuss the state of the markets, their outlook for 2021 as well as an array of topics including:

– Firm update and year-to-date relative performance 

– Positioning changes to the portfolios

– Bull and bear cases for 2021

– Whether the Fed’s actions could lead to inflation

– ETFs’ exposure to the good, the bad and the ugly

To access the call replay, please click below.

(Call recorded on November 18, 2020 @ 1pm ET)

Watch Video Replay (MP4)

Read Transcript (PDF)

For standardized performance, click: POPFX and PCAFX.

Performance data quoted represents past performance and does not guarantee future results. Investment returns and principal value will fluctuate, and when sold, may be worth more or less than their original cost. Performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained for POPFX and PCAFX by calling 877-734-7862.

Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Funds nor any of its representatives may give legal or tax advice.  References to other products and services are not an offer to sell those products.

Prospector Partners, LLC, Quasar Distributors, LLC and Foreside Financial are not affiliated with Havener Capital Partners. 

Diversification does not assure a profit nor protect against loss in a declining market.

Fund holdings and sector allocations are subject to change and should not be considered recommendation to buy or sell any security. [Click here for top ten holdings for PCAFX and POPFX]  

References to price deciles describe the companies in the S&P 500 Index.

References to “twos and tens” describe the two year and ten-year Treasury yields

Russell 1000 Value Index measures the performance of the large cap value segment of the US equity universe. It includes those Russell 1000® companies with lower price-to-book ratios and lower expected growth values.

Russell 3000 Value measures the performance of the broad value segment of the US equity value universe. It includes those Russell 3000® companies with lower price-to-book ratios and lower forecasted growth values.

S&P 500 Value Index measures the performance of the large-capitalization value sector in the U.S. equity market. The Index consists of those stocks in the S&P 500 Index exhibiting the strongest value characteristics.

Russell 1000 Growth Index measures the performance of the large cap growth segment of the US equity universe. It includes those Russell 1000® companies with higher price-to-book ratios and higher forecasted growth values.

S&P 500 Growth Index measures the investment return of large-capitalization growth stocks 

KBW Bank Index (BKK) tracks the stock prices of prominent banking companies in an attempt to be a bellwether for banking industry watchers.

Price to trailing operating earnings is a company’s current share price of a stock divided by its earnings per share.

Price to sales is calculated by dividing a stock’s current price by its sales per share over the trailing 12 months.

Basis point is a unit of measure used in quoting yields, changes in yields or differences between yields. One basis point is equal to 0.01%, or one one-hundredth of a percent of yield and 100 basis points equals 1%.