Full of optimism
December 2023
The conclusion of the quarterly commentary reads as follows: “We enter 2024 full of optimism despite, rather than because of, the global macro-economic backdrop. The portfolio looks well positioned after a relatively active 2023, valuations remain incredibly attractive (the portfolio yield remains close to all-time highs and new stocks added during the year all trade at single digit PEs), there is a rising interest in the types of stocks that Kennox loves (as shown by increased corporate activity) and we are comforted by continuing to hold very little that has significant levels of debt on the balance sheet.”
You can read more, including on specific stocks, in the quarterly report.