Building a position in Wall Street lenders following the second- and third-largest bank failures in US history may seem like a contrarian play, but Cory Martin argues that those events have potentially created an unmissable opportunity., the chief executive of Perpetual-owned value manager Barrow Hanley started slowly increasing the global equities manager’s exposure to the sector.
Martin, who was in Melbourne last week for a roadshow with Barrow Hanley’s Australian equities team, says local investors are still anxious that theThat echoed concerns expressed by JPMorgan chief executive Jamie Dimon, who warned that the crisis is “not over yet” and the effects will be felt for years to come.
Barrow Hanley, which boasts $US44 billion in assets under management, has also been gradually adding to its positions in other corners of the market that have been hit by elevated inflation and higher interest rates.Martin points to global building materials company CRH as a classic example given its earnings are depressed from cyclical fears of a housing and construction slowdown.