Market panic creates bargains for the brave

There are plenty of opportunities still available for long-term investors, says Alec Cutler of Orbis Investments. Here, he picks three undervalued long-term winners.

Every stockmarket crash is different. But they are all the same in two respects: they are very scary at the time and they produce amazing long-term opportunities for investors who can remain calm and disciplined when they occur.

In the past few months we have been buying shares of world-class businesses at discounts that have rarely been on offer in the past decade, if not longer. As countries begin to reopen, markets are likely to remain volatile for some time.

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Alec Cutler joined Orbis Investment in 2004. Based in Bermuda, he leads the multi-asset team, is one of the portfolio managers for the Orbis Global Balanced Strategy, and has overall responsibility for the strategy. He previously worked for ten years at Brandywine Asset Management LLC managing the Relative Value strategy, co-managing the Large Cap Value area and co-managing the firm as a member of the executive committee.

Alec holds a Bachelor of Science degree in naval architecture from the United States Naval Academy, a Master of Business Administration from the Wharton School of the University of Pennsylvania, and is a Chartered Financial Analyst.