Identifying Ways to Win in Difficult Markets

Good day, this is Mark Giambrone from barrow, Hanley. Since the last time we were together, the market has been struggling with some significant issues. The first being very high and persistent rates of inflation. The second being the Fed now becoming less accommodative, raising rates significantly and taking some liquidity out of the markets. And the third, how both of those relate to what a future business cycle might look like as we try to discount the future. And while we expect these things to persist for a while, we think there are clearly still ways to win in a difficult environment, and those ways are specific to the strengths of Barrow Hanley. So focusing on active, focusing on value, focusing on being very selective about the names that we put in the portfolio and take into account the way we believe the future will unfold and how that impacts earnings and cash flows for those specific businesses are critically important. So as we built a portfolio to maximize upside and minimize downside, position us squarely in the value camp focus on cash flows earnings yield. We believe that that's what's going to matter most as we move through this difficult environment and will help us to shine on the other side. Thank you for joining us.