A director of European equities at BMO Global Asset Management, Moss argues that, while anything that fits into that obvious quality area, the classic bond proxies, are looking very expensive, increasingly it makes sense to be less proscriptive about where you look for quality.
“We think you can find quality in many areas outside of those traditional, but you can buy them at much better prices because investors don’t want to touch them – banks are a good example.”
According to Moss, more than 25% of his portfolio is in financials, much of this in banks.
“We think there are a lot of good businesses out there that just happen to be banks,” he said.
