Independent registered investment advisor, First Wiltshire has been managing money for clients since the 90s, using a value-focused investment approach.
According to the investment manager's fourth-quarter 2019 newsletter, its portfolio continues to have a value slant.
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At the end of 2019, the top 50 positions in the portfolio were trading at a discount to the major indices with an estimated median P/E of 13.1 for 2020. That's compared to 18.5 for the S&P 500 and 22.7 for the NASDAQ 100.
The average price-to-book ratio of the portfolio at the end of 2019 was 1.4. The average market capitalization of positions...
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