Investors should look to Europe's unpopular region for opportunities, according to fund manager Sean Peachey, who said there were some “very attractively priced” companies in the region.
Europe has lost popularity, and investors have been distracted by the United States under Donald Trump, Besh, of Ranmore Fund Management, told CNBC's Silvia Amaro. Winning the elections.
“At the same time that Europe was struggling, I felt Trump’s euphoria,” Piech said. “So everyone was rushing to invest in the United States…but running away to the latest and greatest thing is usually not a good way to make money.”
Bish ignored investors' concerns about France, which – Together with Germany – has been in the midst of political turmoil in recent weeks. French President Emmanuel Macron appointed François Bayrou as his new prime minister Last week after Overthrow of Michel Barnier's government.
Macron called for early elections last June, which produced results without a clear majority, sparking months of political chaos and stalemate.
But Bish remains unfazed. He added: “Maybe the euro will collapse, maybe it won't. The companies we own are very attractively priced.”
These stocks include the French bank BNP Paribas – which he pointed out has constantly increased the book value (or net worth) – and the Dutch Investment Bank ABN Amrwhich has a dividend yield of 10.2%. “This is very attractive,” Beachy said.
Looking at the UK, the fund manager said “attractive” stocks such as… Associated British foodswhich owns retail giant Primark, has also been overlooked by investors.
“Primark is doing really well. It's a nice, diverse business with a great management team. I'm not going to wake up tomorrow and find that the management team has done something stupid,” he said.
“They are attractively priced. We are getting good dividends. They are buying back shares, but it is not preferred because it is mid-cap and is listed in the UK.”
Eyes on the playmaker
Besh is bullish on mid-cap companies on the other side of the Atlantic, such as the US gaming giant Mattel.
With household brands like Barbie and Hot Wheels under its umbrella, the toy maker has diversified beyond its core products.
Mattel's management team has “transformed the business so that debt is now very manageable, and it has taken off $1 billion buybackBish said.
The release of a new Barbie Netflix animated series in November and a second documentary series in September charting Mattel's rise gives the toy maker — currently worth about $6.2 billion — “growth potential,” Bish said.
Mattel saw a sharp rise in purchases of Barbie toys after the huge increase The success of the movie “Barbie”. In 2023, Highest profit That year the film grossed more than $1.4 billion worldwide. It has also produced toys for hit movies like “Moana” and “Wicked.” The last hit the obstacle She had to recall her character doll collection after a typo in the package linked to a porn website.
In October, both Mattel and competitor Hasbro They lowered their guidance at the end of the year With game sales declining during the third quarter. Mattel said it expects sales for the final three months of the year to be “comparable to a slight decline” from the previous guidance update.
— CNBC's Christian Burt contributed to this report.
