First Eagle Managers Find Reasons for Optimism

Amid great uncertainty around the globe, the managers of the First Eagle Global fund still see some reasons for optimism, they wrote in their semi-annual letter to shareholders, released this week.

"We live in an age where good ideas are being generated in abundance, and can be transmitted around the globe in a fraction of a second. The most important asset in the global economy is intangible human capital. This provides some shield against the severe scenarios of doomsayers, and keeps us focused on meeting our investment objective of seeking long-term growth of capital on behalf of our shareholders," Matthew McLennan and T. Kimball Booker Jr. wrote.

To read their full letter, which also addresses how scarcity is an important investment consideration for the fund, click here.

First Eagle Global is a component of the Bradway Strategic Portfolio, which consists primarily of investments with top money managers.