ABOUT US EPOCH INSIGHTS INVESTMENT APPROACH STRATEGIES & RESULTS IN THE NEWS

Epoch Capital Markets Outlook - July 23rd, 2014

Growth expectations for different regions have diverged along with trends in labor demographics, debt and inflation, and the policies being put in place to address them. Bill and David will discuss the macroeconomic outlook and the implications for portfolios while Josepha will provide insights from a recent European research trip.

Epoch Capital Markets Outlook - July 23rd, 2014

Money Talk with Bill Priest

In this one on one interview with Bill Priest on Money Talk, Bill speaks to Kim Parlee about his outlook on capital markets, shareholder yield and the 9% solution.

Money Talk with Bill Priest

The Power of Zero + The Power of the Word

Bill Priest, David Pearl and Ken Hightower outline how the “power of zero” (quantitative easing and ultra-low interest rates) and the “power of the word” (the most significant being Mario Draghi’s “whatever it takes” statement) have held sway over equity markets. The paper describes the perils and opportunities ahead as these influences wane. 

The Power of Zero + The Power of the Word
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We are global equity investors with a distinct perspective on the long-term drivers of shareholder return.

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OUR INSIGHTS

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Advantage from Perspective

Long-term investment success demands a focus on essential truths that are not always obvious. We focus on investing in companies with the enduring elements that create value: free cash flow and managements committed to providing positive returns to shareholders. Like the companies in which we invest, we are committed to transparency. This includes sharing our global market perspectives and insights that help drive our investment decisions.

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OUR INVESTMENT PHILOSOPHY

Investors often view a company through the prism of accounting measures such as price-to-book value and price-to-earnings ratios. Epoch adopts a different approach. Earnings growth and dividends drive shareholder returns, and they come from a single source: cash flow. We focus on companies that are growing free cash flow and allocating it intelligently.

Reinvesting cash flows in internal projects or acquisitions is preferred when those actions will generate returns above the cost of capital. Otherwise, we believe company managements should return excess cash to shareholders through dividends, share buybacks or debt repayments -- collectively known as "shareholder yield."

Learn more >

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IN THE NEWS

Bloomberg Radio - David Pearl

David Pearl discusses the importance of focusing on free cash flow and the uses of cash in the context of the current market and macroeconomic environment.  Listen Here >

Money Talk - Bill Booth

Bill Booth speaks about global opportunities within Europe, Japan and the Emerging Markets. View Video >

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