First Eagle Investment Management
Insights
As long-term value investors, we subscribe to the teachings of Benjamin Graham and Warren Buffett, which we apply in distinctive ways. Our white papers explore the thinking that shapes our approach.
Gold as a Hedge Against Left Tail Risk
In this paper we discuss the reasons why First Eagle believes that gold may be an effective way to hedge a long-only equity portfolio against left tail risk; gold’s historical power as a hedge; and the differences between gold as a hedge and gold as an investment, among other topics.
Download “Gold as a Hedge Against Left Tail Risk”
Avoiding the Benchmark Trap
This paper examines the damage that benchmark-dominated investing has inflicted on institutional investors’ portfolios and outlines what First Eagle believes are the advantages of absolute-return-oriented, benchmark-agnostic strategies.
Download “Avoiding the Benchmark Trap”
The PMs' Perspective: Edward Meigs and Sean Slein Discuss Investing in High Yield
First Eagle launched its High Yield strategy in January 2012. In this issue, Ed Meigs and Sean Slein discuss their approach to investing in high yield in today’s volatile environment.
Download “The PMs' Perspective: Edward Meigs and Sean Slein Discuss Investing in High Yield”
The PM's Perspective: Colin Morris on Finding Inefficiencies in Large-Cap U.S. Equities
The PM’s Perspective is a series of interviews with senior members of First Eagle’s investment teams. In this second issue, Portfolio Manager Colin Morris shares his thoughts on where inefficiencies can currently be found in the large-cap U.S. equity market.
Download “The PM's Perspective: Colin Morris on Finding Inefficiencies in Large-Cap U.S. Equities”
The PM's Perspective: Matt McLennan on Emerging Markets
In the first issue of The PM’s Perspective, Portfolio Manager Matt McLennan shares his thoughts on investing in emerging markets.
Download “The PM's Perspective: Matt McLennan on Emerging Markets”