International Countries Thriving
While recent events have caused pessimism in the U.S. which has led to a decrease in trade and spending, many other countries are thriving. Germany, for example, recently announced a massive €500 billion plan to boost defense, stimulate their economy, drive innovation, and support business growth. This is a major opportunity for companies we own – like Vinci, the world’s largest infrastructure firm – who are well-positioned to benefit from the substantial increase in spending.
Key Decisions Paying Off
In April, the portfolio manager added to four high-quality Japanese businesses, each at attractive valuations. Fast forward to today, that decision has paid off. As you can see below, these businesses rebounded quickly, delivering meaningful growth in just a few months.
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