With some of the best, most innovative, and well-run businesses located beyond U.S. borders, limiting one's investments to the domestic market may inadvertently limit their portfolio's potential growth. While the world's economic activity is dynamic and diverse, smart investors are now exploring opportunities in previously seen as distant and foreign markets.

In this episode, Rusty and Robyn talk with Daniel Fields and Todd Morris, portfolio managers and analysts at Polen Capital Management. Before joining Polen Capital, Daniel spent eight years in Hong Kong, working for Gavekal Capital and Marshall Wace LLP as a research analyst evaluating Asian growth companies. Todd worked in research and marketing roles with Prudential Insurance and Millennium Global Asset Management, respectively, and served in the U.S. Navy for seven years. 

Managing Polen Capital's international growth strategy, Daniel and Todd discuss with Rusty and Robyn the case for high-quality and international investing. They emphasize the importance of investing outside the United States. They also highlight the potential for international outperformance in the future, as well as the attractive valuations currently available in international markets.

Key Takeaways

Quotes

[08:33] - "We feel that concentration specifically among high-quality, profitable businesses offers the best odds of success over the long run. And so that is very central to how we think and operate as investors." ~ Todd Morris

[09:02] - "If you're not investing outside the United States, you're missing out on a whole lot of really good companies. Some of the best, most innovative, and well-run businesses are located outside the United States." ~ Daniel Fields

[15:42] - "More than 75% of global activity is happening outside the United States. And while a US-centric or a US-biased allocation has been sensible and has worked well for the last 15 years, that may not always be the case. We should all remember that much of the world's economic activity is happening outside our borders." ~ Todd Morris

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3129-OPS-11/17/2023