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Allen Bond

Managing Director and Portfolio Manager at Jensen Investment Management
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Joined the firm in 2007. Allen is vice chairman of the Investment Committee and conducts fundamental research on potential companies as well as monitors portfolio companies. Allen joined Jensen from Washington Mutual where he held the position of Credit Analyst. In that role, Allen performed fundamental analysis on investment grade corporate bond issuers. Prior to Washington Mutual, he was a High Yield Credit Analyst and Trader for Columbia Management Group. Allen began his career as a Trader at Ferguson Wellman Capital Management. He earned a BS in Business and an MBA from the University of Oregon and is a CFA charterholder. Allen is past president of CFA Society Portland.

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  • We are seeing a major disconnect between capital market returns and economic stability. As we know, equity markets have roared back from mid-March lows. However, while the economy appears to be recovering from the recession that occurred from February to June, there continues to be an increase in corporate bankruptcies and S&P 500 earnings are expected to be down. This contrast is explained by the market's forward-looking nature. In this instance, the stock market rally appears to be grounded in hopes that a potential vaccine will allow for rapid economic and earnings growth in 2021. At Jensen, we share this optimism but warn that the current market/economy disconnect remains risky until earnings visibility improves, thereby setting the baseline from which we can gauge sustainable growth in 2021 and 2022.

  • In our view, quality is location and domicile agnostic but economic exposure matters. As with all things at Jensen, we have devoted a great deal of care and consideration in evaluating the impact of this launch on our current clients.

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