In a year where major body blows to our collective psyche never seem to end, the last few weeks of September into October appear to have stepped it up a notch. While one expects the final quarter heading into one of the most polarizing election seasons in history to alone dominate the headlines, the recent news flow has been virtually unprecedented…
September marked the first monthly decline for the domestic equity markets since March 2020, with the S&P 500 Index falling 3.8% and the Russell 1000 Value Index down 2.5%. For the month, the Coho Relative Value Equity portfolio performed modestly better than the indices, declining 1.9%. September also marked at least a temporary reversal of the Growth over Value style dominance that has been so strong all year long…
When looking at the competing priorities related to health-care reform between Donald Trump and Joe Biden, what is most striking is the degree of overlap. Both want to address surprise billing. Both want to allow drug reimportation. Both are considering an international reference price scheme. Both seek to reduce individuals’ out-of-pocket expenses. The means of getting to these outcomes are somewhat different, but the themes are consistent…
Our premise is simple: companies that have delivered strong and consistent shareholder returns over multiple market cycles have done so because they have built enduring and sustainable business models. They embody an organizational culture that is a true competitive advantage and not easily replicated….
Coho Relative Value Equity