Argosy Investors, an investment management company, recently released its first-quarter 2024 investor letter. The fund ended the quarter with 46.4% of the portfolio in cash and short-term government bonds, while the S&P 500 returned 10.6% year-to-date.
The firm follows a long-term oriented approach, choosing to invest less aggressively when opportunities are scarce and more aggressively when market opportunities are abundant. For more details, you can download a copy of the investor letter from their website.
In the letter, Argosy Investors highlighted stocks like Diageo plc (NYSE:DEO), a company engaged in the production and distribution of alcoholic beverages. Despite a one-month return of -7.14%, the firm believes that Diageo plc has the potential to provide attractive long-term returns. The stock closed at $126.08 per share on June 28, 2024.
Regarding their investment in Diageo plc, Argosy Investors stated, “We believe we’re paying a high-teens multiple of stable and growing earnings, and benefit from a healthy 3% dividend in the interim.” The firm sees value in Diageo plc’s established brands and believes it can weather market volatility.
While Diageo plc is not among the 31 Most Popular Stocks Among Hedge Funds, the firm acknowledges its investment potential. However, Argosy Investors remains focused on AI stocks, which they believe offer greater promise for higher returns within a shorter timeframe.
For further insights on Diageo plc and other investment opportunities, you can explore additional articles on the best alcohol stocks to buy and hedge fund investor letters for Q1 2024. Stay informed about market trends and potential investment opportunities to make informed decisions.
In conclusion, Argosy Investors’ strategic approach to investing and focus on long-term growth set them apart in the market. As always, it’s essential to conduct thorough research and analysis before making any investment decisions.