Sarah Ketterer

Sarah Ketterer

Last Update: 02-17-2015

Number of Stocks: 79
Number of New Stocks: 8

Total Value: $3,461 Mil
Q/Q Turnover: 19%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Sarah Ketterer' s Profile & Performance

Profile

Ms. Ketterer is the Chief Executive Officer of Causeway since June 2001. Her firm manages more than $15 billion as of May, 2008. She is responsible for investment research in global financials and healthcare. Prior Experience From November 1996 to June 2001, Ms. Ketterer worked for the Hotchkis and Wiley division of Merrill Lynch Investment Managers ("HW-MLIM"). At HW-MLIM, she was a Managing Director and co-head of the firm's HW-MLIM International and Global Value team. Education Ms. Ketterer has a BA in Economics and Political Science from Stanford University and an MBA from the Amos Tuck School, Dartmouth College.

Web Page:http://www.causewayfunds.com/fundhome.aspx

Investing Philosophy

Sarah Ketterer focuses on global equities: International , global, and emerging market. She and her team begin with a screen of both large and mid-sized companies in the developed international markets. Their screens are applied to approximately 3,400 companies and use quantitative and value-oriented methods to find prospective stocks that meet their criteria for further analysis. Each stock also receives a "risk score" based on the additional volatility/risk it adds to the portfolio. Their final portfolio is built from those stocks with the highest expected risk-adjusted return. It will typically have 60-80 stocks that have a lower price/earnings ratio and higher dividend yield than the market.

Total Holding History

Performance of International Value Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201011.9815.06-3.1
200932.0126.465.5
2008-41.95-37-5.0
3-Year Cumulative-14.2 (-5%/year)-8.3 (-2.9%/year)-5.9 (-2.1%/year)
20077.875.492.4
200626.0715.7910.3
5-Year Cumulative16.7 (3.1%/year)12 (2.3%/year)4.7 (0.8%/year)
20058.134.913.2
200426.5910.8815.7
200345.8628.6817.2
2002-10.86-22.111.2

Top Ranked Articles

Causeway Capital's Sarah Ketterer Joins GuruFocus for Q&A - Ask Your Investing Question
Sarah Ketterer (Trades, Portfolio) is CEO of Causeway Capital Management LLC, an investment firm with $28 billion in assets. She joins two members of her team, Causeway portfolio managers Jamie Doyle and Conor Muldoon, for a Question & Answer session with GuruFocus readers. To submit a question to them about anything related to investing, simply post it in the comments section below. Read more...
Sarah Ketterer of Causeway Capital's Answers to GuruFocus Q&A
1. How did you get into value investing? Who influenced you the most? Read more...
Sarah Ketterer's Top New Stock Buys for Causeway International Value Fund
Sarah Ketterer’s Causeway International Value Fund (CIVIX) is populated by companies with market capitalizations over $750 million that have undergone rigorous bottom-up analysis. “We believe that companies derive their value from the contribution of yield and profitable re-investment back into the company,” the firm says on its website. Read more...
New Guru Added: Sarah Ketterer
GuruFocus is very glad to announce the addition of Sarah Ketterer into our List of Gurus. She is the first woman in our List of Gurus. Read more...
Causeway International Value Fund Buys 7 Stocks from Around the World
Causeway Capital Management LLC is a $28 billion firm run by Sarah Ketterer (Trades, Portfolio) and a team of analysts, using a “fusion of fundamental and quantitative research” to identify undervalued opportunities. Ketterer has significant experience in international investing, having founded the international equity strategy for Hotchkis & Wiley prior to the start of Causeway. Read more...
» More Sarah Ketterer Articles

Commentaries and Stories

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Betting on Emerging Markets Like Ray Dalio
Ray Dalio (Trades, Portfolio)’s Bridgewater Associates is one of the largest investors in iShares MSCI Emerging Markets Indx (ETF) (EEM) as it reported holding 78.54 million shares, down by 2% on the quarter. More...

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This San Diego-Based Chipmaker Looks Attractive
In this article, let's take a look at Qualcomm Incorporated (QCOM), a $121.62 billion market cap company, which designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the U.S. More...

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Sarah Ketterer's Top 5 New Buys in Q4 Sarah Ketterer - Sarah Ketterer's Top 5 New Buys In Q4
Sarah Ketterer (Trades, Portfolio) co-founded Causeway Capital Management in 2001, which now manages $36 billion in assets as of 2014. More...

SARAH KETTERER, CAUSEWAY CAPITAL


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Causeway Capital Global Value Equity Q4 2014 Commentary
Oil prices and economic weakness weighed heavily on equity performance during the quarter. Reflecting oversupply and concerns about demand, crude oil prices fell to their lowest level in over five years, and global equities echoed this downward trend. The weakest performing developed markets included Norway, Portugal, Italy, Spain, and Denmark. The top performing markets in the MSCI World Index (Index) included the United States, Hong Kong, New Zealand, Ireland, and Israel. The worst performing sectors during the final quarter of calendar 2014 were energy, materials, telecommunication services, industrials, and financials, while the best performing sectors in the Index were consumer discretionary, utilities, information technology, consumer staples, and health care. Every major currency except the Hong Kong dollar depreciated versus the US dollar during the period, thus diminishing returns on overseas assets for US dollar-based investors. More...

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Causeway Insights - European Central Bank Stimulus Program
Adhering to its goal of near 2% inflation in the Eurozone, the European Central Bank (ECB) announced its monetary stimulus package today. By purchasing €60 billion of Eurozone government, agency, asset backed and covered bonds (of maturities ranging from 2‐30 years) each month from March 2015 to at least September 2016, the ECB’s “Quantitative Easing” (QE) program should create approximately €1 trillion of liquidity. That is about twice the amount expected by the consensus of economists polled by Bloomberg in the weeks leading to today’s ECB announcement. While the scale of the bond purchases appears modest relative to similar QE programs in the US, Japan, and the UK, the ECB showed its commitment to price stability, with the useful byproduct of a weaker euro. From its peak in April 2011 to present, the euro has declined 23% versus the US dollar. In the past twelve months, the euro has declined 17% versus the US dollar. This devaluation of the euro should help to spur economic growth and offset some of the region’s deflationary pressure. More...

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Causeway International Value Fund Q4 2014 Commentary
After a liquidity-fueled ascent in the first half of 2014, international equities reached a plateau during the third quarter. The MSCI EAFE Index (“Index”) posted a small positive return in local terms, but US dollar strength versus international currencies pushed dollar-denominated returns into negative territory. The top performing countries during the quarter were Israel, Singapore, Japan, Hong Kong, and Finland. Several markets declined steeply over the period including Portugal, Austria, Germany, New Zealand, and Italy. The best performing sectors in the Index were health care, information technology, financials, telecommunication services, and utilities. The worst performing sectors were energy, materials, consumer discretionary, industrials, and consumer staples. More...

Causeway International, Commentary


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Causeway Funds Commentary - Why Invest Internationally?
Prolonged periods of underperformance versus the mighty US equity market have cast a shadow over international equity allocations. In these periods of US-market dominance, US domiciled clients habitually ask us to defend their exposure to foreign markets. With international equities and currencies delivering inferior recent performance, and market correlations at high levels, why bother venturing from home? One could argue that overall superior country and company management continues to distinguish US companies from non-US peers. More...

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Causeway Funds October Newsletter - 'Scrappy Small Caps: Introducing Causeway International Small Cap Fund'
As Mark Twain once said, “It’s not the size of the dog in the fight, it’s the size of the fight in the dog.” We recognize that smaller, less researched stocks can offer valuation discounts and more growth potential than their larger capitalization peers. But what is the most effective method to exploit those pricing inefficiencies? Quantitative research and portfolio construction typically have flexibility in investment style and the agility to react to upside opportunities. Combine that quantitative rigor with fundamental industry knowledge, and the result can exceed what either investment approach could do in isolation. More...

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The Largest U.S. Toy Manufacturer
In this article, let's take a look at Mattel Inc. (MAT), a $11.44 billion market cap company, which is a large toy company, and successful brands and products include Barbie dolls, Fisher-Price toys, American Girl dolls and books and Hot Wheels. More...

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Causeway International Value Fund Buys 3 New Stocks Sarah Ketterer - Causeway International Value Fund Buys 3 New Stocks
Causeway Funds is a money management firm focused on global stocks and led by Sarah Ketterer (Trades, Portfolio), CEO and fundamental portfolio manager. The firm commented on its Causeway International Fund second quarter performance in its quarterly letter: More...

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Weekly Guru Bargains Highlights: TWTR, VOD, DB
According to GuruFocus updates, these stocks have declined the most since Gurus have bought. More...

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Sarah Ketterer's Causeway Capital - 'What Happened to Hedge Fund Alpha?'
American economist and Nobel laureate, Eugene Fama, would make a tough client. But we understand his skepticism. He once admitted, “I don’t believe anyone wants to hear what I have to say.” Maybe investors will tune us out as well, but the message is worth delivering. Performance deconstruction can reveal much about manager skill. We focus on the elusive “alpha” component of the investment return, which is not derived from beta (a measure of an asset’s sensitivity to market movements) or common factor risks. Alpha matters because it captures the portion of returns that moves independently of stock market cycles. Why pay hedge fund fees for beta and common factor returns when they are available for very low passive management fees? Investors tell us they seek diversification and want alpha uncorrelated with financial markets. They expect capital preservation in down markets, and aim for returns that do not depend on any particular economic environment. These all-weather funds are increasingly hard to find. Opaque attribution of hedge fund returns has added to some of the confusion surrounding the asset class. More...

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Weekly Guru Bargains Highlights: VOD, DB, TWTR
According to GuruFocus updates, these stocks have declined the most since Gurus have bought. More...

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Weekly Guru Bargains Highlights: DB, TWTR, VOD
According to GuruFocus updates, these stocks have declined the most since Gurus have bought. More...

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Weekly Guru Bargains Highlights: VOD, DB, TWTR
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Weekly Guru Bargains Highlights: SMFG, VOD,
According to GuruFocus updates, these stocks have declined the most since Gurus have bought. More...

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What Is Your Moat? Bill Ackman,Sarah Ketterer - What Is Your Moat?
During the Value Investor Conference held just before Berkshire Hathaway's annual shareholder meeting, I had the opportunity to hear from some of the best investors in the value investing field. One thing I observed during the conference is that they all claim that they are different from other investors and it is the difference that produces the superior returns. More...

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Causeway Funds Commentary - Global Opportunities in Technology
Technology stocks have presented two related chal- lenges for global value investors: valuation and geo- graphic concentration. Nevertheless, Causeway has found overlooked opportunities in the sector. To shed some light on investing in information technol- ogy (IT) stocks, we spoke to Jamie Doyle, portfolio manager, and Brian Cho, technology research analyst. More...

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Weekly Guru Bargains Highlights: SMFG, EOG
According to GuruFocus updates, these stocks have declined the most since Gurus have bought. More...

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Weekly Guru Bargains Highlights: VOD, LBTYA, CEO
According to GuruFocus updates, these stocks have declined the most since Gurus have bought. More...

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User Comments

Sperrella@facebook
ReplySperrella@facebook - 1 year ago
I like pharm and biotech what about Mannkind and blood labs quest and Bio referrnce? Seems chances for approval are good for Mannkind and next direction for labs are total counseling. Blood tests market is strong w heslthcare opportunities also.

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