Markets are not always efficient. Sometimes investors are compelled to sell not because a business has lost its value, but for reasons entirely unrelated to its fundamentals. Analyst Jay Hill explains what forced selling is, why it happens, and how Tweedy, Browne looks to turn that market inefficiency into an opportunity.
All investing involves the risk of loss, including the loss of principal.
Value investing involves buying stocks that are out of favor and/or viewed as undervalued by the Adviser in comparison to their peers or their prospects for growth. Securities of companies with micro-, small- and mid-size capitalizations tend to be riskier than securities of companies with large capitalizations. This is because micro-, small- and mid-cap companies typically have smaller product lines and less access to liquidity than large cap companies, and are therefore more sensitive to economic downturns.
International investing may be subject to special risks, including, but not limited to, currency exchange rate volatility, political, social or economic instability, less publicly available information, less stringent investor protections, and differences in taxation, auditing and other financial practices.
ETFs are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a premium or discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact an ETF’s ability to sell its shares. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns.
An investor should consider the investment objectives, risks, and charges and expenses of the fund carefully before investing. Click here or call 1-800-617-0004 for a copy of the Fund’s
prospectus, which contains this and other information about the fund. The prospectus
should be read carefully before investing.
The Tweedy, Browne ETFs are distributed by Quasar Distributors, LLC.
