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The value of patience and flexibility

Jun 23, 2021

Redacción Mapfre

The investments made by IAC's president and senior executive, Barry Diller, have proved to be very successful, thanks in no small part to strategic thinking and patience. The company, which is part of the MAPFRE US Forgotten Value Fund portfolio, has developed significantly in recent years by bringing offline businesses to the digital marketplace.

In an joint interview with Joey Levin, CEO of IAC, in Forbes magazine, Jonathan Boyar, president of Boyar Value Group, discusses the importance of seeking out opportunities in the marketplace and the comparative advantage of "being indifferent to short-term performance if it delivers superior results over the long-term”.

In this regard, he says that IAC cannot be considered a "value" company that sells at a discount. In fact, "the shares of companies like this are usually not statistically cheap." However, he stresses that this doesn’t mean that it doesn’t represent good value at its current price levels.

For Boyar, the main strategy followed by MAPFRE AM's fund consists of acquiring shares in high-quality companies at a reasonable price. It was in December 2019 when MAPFRE's fund management unit and Boyar Value Group agreed to create this fund by going after high-quality companies at fair prices. Since the beginning of the year, the portfolio has risen 20 percent, outperforming its benchmark index and becoming one of the best-performing funds in its sector.

Click here to read the full interview.

High volatility in stock markets: why it happens and how to act

In recent weeks, international markets have faced their most challenging period since 2020. In a situation marked by surging volatility, emotions like fear take center stage in the minds of many investors, and market movements shift from linear to exponential. Such situations, although not frequent, do tend to recur periodically, and it’s important not to get swept up in the negative atmosphere or act impulsively with a short-term mindset, as the experts at MAPFRE remind us.

The dollar's hegemony under scrutiny

The US dollar’s role as the world’s reserve currency, historically underpinned by institutional credibility, financial depth, and trade dominance, is now facing mounting structural challenges that go beyond short-term economic fluctuations.

The tariff war shakes the global economy and casts doubt on U.S. debt

The tariffs are a problem that’s marking a major shift in the economic relationships we've built and developed over the past few decades. The U.S. President is using them as a tool to bring manufacturing back home and, in turn, boost government revenue through both direct and indirect taxation. But the ends don't always justify the means, and in pursuing these goals, the U.S. is now facing slower economic growth and rising inflation.