Sarah Ketterer: 'Forget Value, Think Valuation'

Sep 6, 2022 · 54 min · Episode 178 · 52.6 MB

0:00-54:49

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Our guest this week is Sarah Ketterer. She is CEO and fundamental portfolio manager at Causeway Capital Management, the firm she co-founded in 2001. In her role, she is responsible for overseeing investment research across all sectors and is a member of the firm's operating committee. As a part of her duties, Ketterer manages Causeway's flagship international value strategy, including the Causeway International Value fund, which she has run since its 2001 inception. Prior to founding Causeway, she was a senior leader and portfolio manager at Hotchkis & Wiley. She earned her bachelor's degree in economics and political science from Stanford University and an MBA from the Tuck School, Dartmouth College.

Background

Women in Institutional Investments Network

Causeway International Value Fund Investment Team Named Morningstar’s 2017 International-Stock Fund Manager of the Year

Investment Approach

“A Topnotch Foreign Large-Value Vehicle for the Long Haul,” by William Samuel Rocco, Morningstar.com, Nov. 8, 2021.

“Growth and Value Equity Opportunities: Morningstar Investment Conference,” by Charles Paikert, familywealthreport.com, May 23, 2022.

“Combining our Time-Tested Abilities in Developed and Emerging International Markets,” causewaycap.com.

“Investors Should Be Ready to Buy When We Are Clearly in a Recession,” by Cristoph Gisiger, causewaycap.com, Dec. 6, 2022.

“Where to Invest $10,000 Right Now,” by Suzanne Woolley, Bloomberg.com, May 18, 2022.

The StarMine Analyst Revisions Model (ARM)

Value Investing and Turnarounds

“'We Started Jumping Out of Our Shoes': Auto Share Drop Revs Up Value Shop,” by Vicky Ge Huang, citywireusa.com, April 2, 2018.

“Buy ‘Dull’ Cash-Flowing Stocks, Causeway’s Ketterer Says,” by John Gittelsohn, financialpost.com, June 5, 2022.

“Top Global Value Manager Sarah Ketterer Identifies Some ‘Outstanding’ Bear Market Opportunities,” Wealthtrack podcast, wealthtrack.com, July 8, 2022.

“Why This Top Manager Thinks Markets Are Less Risky Now,” by Katie Rushkewicz Reichart, Morningstar.com, May 17, 2022.

“Where a Value Manager and a Growth Manager See Opportunities, Risks Now,” by Dinah Wisenberg Brin, thinkadvisor.com, May 23, 2022.

“Activist Investors Descend on ‘Bargain Basement’ UK Companies,” by Harriet Agnew and Arash Massoudi, ft.com, Feb. 1, 2022.

Portfolio Positioning

“Sarah Ketterer’s 5 Favorite Energy Stocks,” by Sydnee Gatewood, gurufocus.com, June 20, 2022.

“Sarah Ketterer’s 5 Favorite Tech Stocks,” by Sydnee Gatewood, gurufocus.com, June 15, 2021.

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