Ketterer Explains Causeway’s Shift to Defensive Stocks

The transcript discusses investment strategies during market dislocations, focusing on trading up and investing in undervalued stocks. It highlights investments in aerospace and software sectors, emphasizing post-pandemic beneficiaries like Walt Disney. A case study on Volkswagen illustrates cyclical stock management and risk-adjusted returns.

How did the investors view the software companies in travel and tourism?

What was the outcome of Volkswagen's stock performance after the crisis?

Why is it important for value managers to reduce positions in cyclical stocks?