First Eagle Funds

Press

April 15, 2013

"We tend to thrive when there is some uncertainty risk, dislocations in the stock market and the fadct of the matter is for the most part markets are not in distress" - Abhay Deshpande

April 1, 2013

"At First Eagle, we've always viewed gold as a potential hedge for those types of systemic risks that you can't protect a portfolio against." - Rachel Benepe

March 4, 2013

"We're value investors at First Eagle and the tendency is for us to become more cautious as prices get closer to fair value." - Abhay Deshpande

January 7, 2013

"We just want prices to be lower, not because we want calamity, but because we're investing with a margin of safety." - Abhay Deshpande

December 14, 2012

"We're looking for companies that will have some relevance and staying power, and ability to withstand whatever the world throws their way." - Kimball Brooker

December 10, 2012

"We look across the entire market cap spectrum. The key is the nature of the assets that a company owns, be it the market position or be it the actual underlying commodities they own." - Matthew McLennan, CFA

The managers want to see free cash flow rising and sustainable, and conservative liabilities. When valuing the enterprise, they give credit for surplus cash and penalties for debt and other liabilities. The process leads them to companies with strong balance sheets and modest valuations.

October 9, 2012

"Despite contrarian talk of a bond 'bubble', we believe that the current state of the credit cycle and improved corporate fundamentals bode well for high yield in the coming years."

September 30, 2012

Given the dual threats of inflation and capital destruction, retirees who are interested in protecting the real value of their future income should consider capital appreciation as an investment objective in addition to income generation.

September 21, 2012

"If you have some form of scarcity and duration, and you combine that with a strong capital structure, limited amounts of debt, so that the assets don't transfer to the debt holders, and a management team that operates prudently, you have scarcity and resilience. And that's really what we look for at First Eagle." - Matthew McLennan, CFA

June 19, 2012

"We think of ourselves as investment managers rather than asset gatherers. We focus on preserving purchasing power over time." - John Arnhold