April 3 2020- Tye Bousada, portfolio manager
Dear fellow investors,
We understand that the last few weeks have been extremely trying. The virus has created a difficult situation for the whole world and the uncertainty has caused significant declines in global stock markets. This has caused losses in your Portfolio. Although we deem the declines to be temporary in nature, we understand that drawdowns like this are difficult to experience. We understand the gravity of our responsibility to you, and we have not wavered from our goal of helping you achieve your long-term financial objectives. Furthermore, we stand shoulder-to-shoulder with you in the Portfolios – the internal EdgePoint partners are collectively the second largest owner of the same Portfolios you own.
Let us start by saying that in our entire careers, we have rarely seen an opportunity to add as much long-term value for our investors as we do right now. This isn’t to say that we believe that things will start getting better tomorrow, as we have no idea how this situation is going to play out over the next few weeks or months. But we do believe that the long term is what really matters in investing, and our confidence level is much higher for the longer term.
With that as a backdrop, here are seven things we know to be true even in today’s very uncertain environment:
Read the 7 things here >> EdgePoint 1st Quarter 2020