NEWS AND EVENTS

Russia says broker will take bids from March 25 for frozen assets swap

Bernard Horn, President and Portfolio Manager with Polaris Capital, discussed Russia's frozen asset swap move as "more of the fog of war and investing" and suggested that U.S. investors should continue operating fully under all sanctions. Mr. Horn referenced the move as a "backdoor way" for Russia to skirt sanctions. More details are available in the Reuters article from March 12, 2024.

Nikkei average stock price exceeds 40,000 yen; overseas investors are bullish, saying it's still cheap

Ken Kim, senior investment analyst at Polaris Capital, discussed three main reasons for the rise in Japanese stocks: 1) the Tokyo Stock Exchange's efforts to improve corporate governance; 2) the movement of overseas investors moving away from China to invest in Japanese stocks; and 3) the fact that Japanese stocks have lower valuations than U.S. stocks. Ken went on to discuss the two stages of the Japanese stock market movement, current Polaris investments in Japanese trading companies, and volatility metrics that favor Japan over the U.S. To read the complete article, please visit the Nikkei Asia website.

Polaris' Horn: The End of 'Free Money' Favors Value Investing For The Future
Money Life With Chuck Jaffe

Bernie Horn of Polaris Capital says that international value bested growth for several years now and expects the U.S. to follow suit as central banks keep interest rates higher, creating positive real returns for fixed income and ending some of the bubbles caused in equity sectors from years of borrowing at near-zero interest rates. While he expects the change to be global, Bernie favors international stocks now because their valuations are more attractive.

Listen in as Bernie speaks with Chuck Jaffe from the Money Life Show: THE END OF 'FREE MONEY' FAVORS VALUE INVESTING

Polaris Capital Hires Investment Analyst Kevin Xu

(BOSTON, MA., DECEMBER 01, 2023) Polaris Capital Management, LLC, today announced the hiring of Kevin Xu as an investment analyst. Mr. Xu will collaborate with an experienced team of portfolio managers and analysts, all of whom are considered generalists and perform fundamental analysis of potential investment opportunities.

A recent MBA graduate from the MIT Sloan School of Management, Mr. Xu has nearly 10 years of industry experience, starting with his work as an equity research analyst at Bank of America Merrill Lynch. He subsequently served as a research associate for fundamental long/short hedge fund Coatue Management, before taking on various operating roles at Jet/Walmart.com and Yamibuy.com.

In 2023, Mr. Xu received his master’s degree in business administration from MIT. He graduated summa cum laude with an undergraduate degree in operations research and financial engineering from Princeton University.

READ THE COMPLETE PRESS RELEASE HERE

NEWS APPEARED IN: Yahoo Finance, MarketWatch, HedgeWeek, ABL Advisor

Polaris Capital Appoints Jason Crawshaw as EVP

(BOSTON, MA., OCTOBER 09, 2023) Polaris Capital Management, LLC, today announced the promotion of Jason Crawshaw to Executive Vice President, where he will serve in an executive management position concurrent with his role as a Portfolio Manager at the firm.

"This new leadership role will enhance firm-wide operational and technological efficiency without compromising Polaris’ focus in research and investing. We get the best of both worlds by having a tenured professional like Jason in this position," said Polaris President & Portfolio Manager Bernie Horn.

Jason Crawshaw joined the Polaris team as an Analyst in January 2014, became an LLC Member in 2015, and was promoted to Assistant Portfolio Manager in early 2016. In January 2021, he was promoted to Portfolio Manager, alongside colleagues Sumanta Biswas and Bin Xiao. All three portfolio managers are considered generalists, conducting fundamental analysis of potential investment opportunities and driving portfolio management decisions.

READ THE COMPLETE PRESS RELEASE HERE

An overheated U.S. market has investors looking abroad

POLARIS BYLINE: Market dynamics shifted with the onset of the Federal Reserve’s aggressive rate hike campaign in 2022. In today’s “higher-for-longer” interest rate environs, some of the largest technology stocks continue to face untenable growth projections. This has given investors pause to reevaluate, noting the pronounced disparity between U.S. and international stock market valuations. International value stocks are cheaper still, with the MSCI EAFE Value Index sitting near 10-year low valuation multiples. Many industry pundits are advocating to broaden their foreign exposure… with good reason. To read the complete advertorial from Portfolio Manager Jason Crawshaw, please visit the POLARIS GLOBAL VALUE FUND WEBSITE.

Bernard Horn Exits Hyundai Mobis, Boosts Horizon Therapeutics

GuruFocus describes Polaris' efforts as "seeking to generate strong risk-adjusted returns and capital appreciation" by investing in discounted but high-quality stocks in developed as well as emerging markets. Among the the latest quarterly buys and sells from Polaris Capital Management and Bernard Horn (who was the featured speaker at the 2023 GuruFocus Seminar), were Teleperformance, Tecnoglass, TotalEnergies and Cullen/Frost Bankers, while Polaris also added to its position in Horizon Therapeutics and select other potentially undervalued holdings. The company exited Hyundai Mobis. For more information, please visit the gurufocus.com website.

Talking Stocks On MoneyLife Market Call

Bernie Horn, President & Portfolio Manager of Polaris Capital, was the featured speaker on a July radio spot with MoneyLife. He discussed travels worldwide, investing discipline and value methodologies. In particular, Mr. Horn talked about strong cost of capital and strong cash flows as the "recipe" for finding good values. Discussion turned to supply/demand and inventory, with specific companies garnering Polaris' attention. SK Hynix and Samsung are capitalizing on the rebound in semiconductors (on the back of Nvidia and AI frenzy); Kia Corp, Magna International and Michelin are benefiting from a ramp-up in auto production post COVID; and packaging companies in the portfolio have done well as a low-cost way of investing in higher priced stocks (like Walmart, etc.). To listen to the 18-minute Market Call radio segment, please visit THE MONEYLIFE SHOW.

The Largest Money Managers of 2023 - Pensions & Investments

Polaris Capital Management, LLC, a leading global equity manager headquartered in Boston, was named among the largest money money managers in 2023. Managers were ranked by total worldwide institutional assets under management through December 31, 2022.

7 Best Mining Stocks for the Energy Transition

In an article discussing the new era of energy production (renewable energy, electric vehicles and decentralized electricity grid), much depends on the mining metals -- the elements that make clean energy possible.

Sam Horn, senior investment analyst with Polaris, talks about a number of copper stocks that take advantage of the energy transition. "Copper is at the core of all types of renewable energy initiatives: EVs, wind farms, turbines and fuel-efficient airplane engines," he notes. But extracting copper is hard work, with mountainside mines and limited water sources in far-flung locations. The few dominant players in the copper industry are primed for success, taking advantage of the supply-demand constraints, he notes.

Polaris Global Value Fund Named to IBD's Best Mutual Funds 2023 Ranking

Polaris Capital Management, LLC, a leading global equity manager headquartered in Boston, announced today that the Polaris Global Value Fund (PGVFX) was ranked among the Best Mutual Funds of 2023, in the eighth annual ranking by Investor's Business Daily (IBD). IBD listed PGVFX in the top 20 Best International Stock Funds 2023 based on a 10-year record of performance through December 31, 2022. PGVFX also made IBD's list of Best International Stocks Funds in 2022.

For more information, please visit: www.polarisfunds.com

A Look At Bernard Horn's Top Holdings Ahead of Value Conference
The guru will be one of the keynote speakers during the annual event in May 2023

Bernie Horn, portfolio manager for Polaris Capital, seeks to generate strong risk-adjusted returns and capital appreciation by investing in discounted but high-quality stocks in developed and emerging markets. To learn more about Polaris' current holdings in its global and international portfolios, please visit www.gurufocus.com.

10 Best Energy Stocks to Buy in 2023

Energy investors may want to consider both traditional oil and gas companies, as well as pure-play renewable energy companies in the current market. Yet, renewable energy (solar, wind) sources (and the accompanying battery storage) can’t power current needs. Sam Horn, senior investment analyst with Polaris Capital, discussed the issue at length, pointing out the hurdles and expenses involved in renewable electricity storage capacity, while highlighting liquified natural gas as a transition fuel. He subsequently discussed a number oil/gas companies in the U.S. that are working to make their production greener.

Bloomberg Markets: Europe - Featured Guest Bernard R. Horn, Jr.

Bernard Horn, president and portfolio manager of Polaris Capital Management, was featured on a Bloomberg Markets: Europe segment with Anna Edwards, where he discussed current geopolitical risks, inflation and commodities in the context of investment opportunities and pitfalls. Watch the replay at Bloomberg Markets: Europe Part 2. Look for the segment at 48 minutes into the program.

Get Your Copy of "Value What Matters Most" today. Biography of Bernie Horn

This isn't the story of another Boston Brahmin money manager who was born with a silver spoon in his mouth. It is a story about a hardscrabble Irish/Italian who came from humble beginnings and was the first generation to go to college. Never mind reaching the elite status of MIT's Sloan School of Management. But Bernie Horn was never a man to rest on his laurels. Instead, he bucked convention, launching his first entrepreneurial effort right out of Sloan. High aspirations were met with heartache, long hours, and low pay. A brief stint in Corporate America followed; he chafed against the confines and the three-piece suits. Nearly fifteen years after first striking out in investment management, Bernie launched Polaris Capital. From there, it was a zigzag line to success. Nothing was simple, but nothing was insurmountable. Value What Matters Most is a testament to the resilience required to turn a one-man shop into a multimillion-dollar enterprise, without forgetting what is most important in life. To obtain your copy today, please feel free to contact Polaris Capital's administrative associate, Crystal Snapp.

The Importance of Investing Outside the U.S.

Portfolio Manager Sumanta Biswas discusses the Polaris investment philosophy (global value) and how the different investment strategies stem from this basic focus. He goes on to discuss international investments and the importance of holding a diversified portfolio of non-correlated assets (both U.S. and international). To watch the complete interview with Mr. Biswas, visit Asset Advisor Strategy’s YouTube channel.

The Wall Street Transcript -Investing Globally Across Industries and Market Caps

Mr. Horn's interview with The Wall Street Transcript has been selected as one of the Top Ten Portfolio Manager Interviews of 2013.

Bernard Horn Jr. of global and international investing firm, Polaris Capital Management, discusses some of the advantages of global value investment and how his outlook has evolved over recent decades. The Polaris Global Value Fund has holdings in at least 15 different countries and industry groups across market caps, and Mr. Horn explains where he sees additional opportunities. He also walks through the stock selection process and names key holdings.

Read the complete transcript.

BIOGRAPHY with Bernie Horn

Disclosure: Morningstar's 2006 International Stock Manager of the Year Criteria: Fund managers were ranked by performance, long-term records, sound strategy and manager commitment toward the funds' shareholders.

Consuelo Mack WealthTrack With Bernie Horn

Video Disclosure:
Morningstar's
2006 International Stock Manager of the Year Criteria: Fund managers were ranked by performance, long-term records, sound strategy and manager commitment toward the funds' shareholders

International Diversification: Why It Still Makes Sense

A few quick article highlights: 1) The past few years have masked performance data: U.S. and foreign stocks are not highly correlated over the long term. 2) U.S. and foreign stocks become more correlated during times of crisis and less correlated afterward. 3)Including foreign stocks in your portfolio can increase returns and decrease risk.

Read the published international investing article

Around The Horn - Profile on Polaris Capital Management

Bernard Horn, Sumanta Biswas and Bin Xiao of Polaris Capital describe the “purist” aspects of their value approach, what they consider some of the most undervalued sectors in the world, why less volatile stocks can often be more mispriced, and why they see upside in certain stocks.

Read the article