Steve Romick — Big Picture, some Big Undervalued Ideas
Steve Romick is a very well-respected investment manager with First Pacific Adisors and manager of the FPA Crescent Fund (FPACX), and he gave a talk very much built on a “where to now” look at the...
View ArticleIraqis and the “Pepsi Challenge”— Geoffrey Batt
This is an interesting one — one we can’t necessarily buy. Geoffrey Batt runs Euphrates Advisors and has a fund that buys stocks on the Iraqi Stock Exchange, and he thinks Iraq is going to have an...
View ArticleZack Buckley and Tech Value
Zack Buckley, who last year talked up a short in the tech space, today argued that there’s a small tech company that’s very undervalued. The company used to be called InfoSpace and (since investors...
View Article“Grahamanddoddistan” and Kazakh Margin of Safety
It’s been interesting to see that we’re getting a broader international spectrum of ideas at this Value Investing Congress than in years past — so far we’ve seen Iraq and the UK … and India, Mongolia,...
View Article“The Elephant is Moving”— notes on Amitabh Singhi’s India-listed Investment...
Amitabh Singhi has spoken at Value Investing Congresses in the past, and he typically talks about India-listed stocks that, frankly, we probably can’t easily buy — but he talks about the state of the...
View ArticleMaximizing Shareholder Value when the FBI Raids Your Office
Phillip Goldstein of Bulldog Investors talked this afternoon about his experience with Imperial Holdings (IFT), which is in the life settlements business. The business is and was pretty compelling —...
View ArticleResidential Real Estate Investing — Jeff Pintar
Jeff Pintar talked up the fairly simple premise that residential real estate, and particularly single family homes, are a compelling discount when purchased for rental. This is something that’s not...
View ArticleChris Mayer’s “Focus on Owner Operators”
Chris Mayer, who we’ve covered from time to time as Agora has teased his letters, was the last presenter of the day. He talked about owner operators, which generally means “skin in the game” —...
View ArticleValue Investing Congress — Day One
Well, it’s been a busy, busy first day of the Value Investing Congress — they reorganized the event this year to include more presentations, which means I have more notes to share with you. Much of the...
View ArticleMark Boyar’s Three Undervalued Companies
Mark Boyar does excellent value investing research that he publishes (his firm also manages a mutual fund, Boyar Value (BOYAX) — it’s an expensive fund so I wouldn’t necessarily want to invest there,...
View Article“Dumb and Dumber”— Zeke Ashton on learning from mistakes, and a safer real...
Zeke Ashton runs Centaur Capital Partners and does long/short and he’s also a manager of Tilson Dividend (TILDX), which uses covered calls. I’ll flip his presentation and start with his investment...
View ArticleFour Ideas from COMPOUND Catpital Management
Joe Altman and Chris Kyriopoiulos at COMPOUND started out their talk with a quick mention of the TARP Warrants that they think are excellent buys — we wrote about those warrants last month and did not...
View ArticleDavid Hurwitz — Hope for Growth vs. Real Assets and earnings
David Hurwitz of SC Fundamental presented a thought exercise on valuing a steady and boring company versus a rapid grower that has been steadily losing more money on each new sale. The key is to look...
View ArticleVitaliy Katesenelson’s Big Downhill Dividend
Vitaliy Katesenelson presented at the Value Investing Congress five years ago, one that I didn’t attend, and he talks about market cycles. He notes that what we think of as bear markets have really...
View ArticleMittleman — Invest like a Private Equity firm
Chris Mittleman spoke on behalf of his family-run investment firm, Mittleman Brothers, and says he applies a more selective criteria to find real extremes of value. The presentation was about applying...
View ArticleOri Eyal and Value Investing in Israel
Ori is a global value investor, and he thinks it’s critical to research the country as much as the company. Great individual companies can be crushed by a bad geopolitical situation. You have to like...
View ArticleHarris Kupperman — Creating Ways to Invest in Unique Trends
Harris Kupperman is an international growth hedge fund manager who basically launched Mongolia Growth Group (YAK.V MNGGF) because he was looking for a way to invest in a trend that wasn’t really...
View ArticleWhitney Tilson — new positions and updates on past suggestions
Whitney Tilson presented on several of his older ideas and a few new ones, and started off by telling us that the most dangerous three word phase in investing is “I Missed It.” That’s the phenomenon of...
View ArticleValue Investing Congress — Day Two
The Congress has concluded, with a couple dozen sessions over two days exposing your friendly neighborhood Gumshoe to probably 50+ interesting investment ideas. I’ve shared notes on almost all of those...
View ArticleFriendly Takeover = Sell For Me
Sprott Resource Lending (SILU) is being taken over by what was effectively their manager, Sprott Inc (SII.TO, SPOXF), in a friendly transaction that I’d guess should go through fairly easily and close...
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