GuruFocus is excited to announce an upcoming interview with Jeff Auxier (Trades, Portfolio), the president and chief investment officer of Auxier Asset Management.
As such, we would like to give our readers the opportunity to ask him questions. Please submit your investing-related inquiries in the comments below by Thursday, Dec. 7.
Combining fundamental value investing with a top-down macro approach, his Oregon-based firm seeks to invest in “compelling, undervalued” companies that have, among other attributes, strong or improving fundamentals, consistent operating results, a significant competitive advantage, understandable products and a demonstrated ability to earn a high return on capital.
Auxier, who has been a GuruFocus member since 2007, has been a guest on our Value Investing Live stream series and has been a speaker at the GuruFocus Value Conference in Omaha, Nebraska.
In his third-quarter letter to shareholders, Auxier shared some of his observations on market trends, including bond rates, interest rate hikes and the increasing popularity of weight loss drugs. He also cautioned investors about buying into the hype, noting a number of companies in recent years have gone public with “sky-high valuations, little-to-no profit and big promises of transforming their markets.”
“When money was cheap it was easy for a new business to attract significant investment. Not so today as the spigot is shut off,” he wrote.
Examples he gave of companies that fell victim to being overhyped included Beyond Meat Inc. (BYND, Financial), WeWork Inc. (WEWOQ, Financial) and Rivian Automotive Inc. (RIVN, Financial).
As for Auxier's recent trades, 13F filings for the three months ended Sept. 30 show new positions in Kenvue Inc. (KVUE, Financial), Tractor Supply Co. (TSCO, Financial), SM Energy Co. (SM, Financial) and Johnson Controls International PLC (JCI, Financial). He also sold out of Equifax Inc. (EFX, Financial), ASML Holding NV (ASML, Financial), Laboratory Corp. of America Holdings (LH, Financial) and Fortrea Holdings Inc. (FTRE, Financial). See all of his holdings here.
Do not forget to submit your questions in the comment section!
