Since founding Century Management in 1974, Arnie Van Den Berg has handily beaten all of the indices. Through September 30, 2007, he had managed to earn returns of 16.62% per year before fees versus 13.53% and 12.37% per year for the S&P 500 and the NASDAQ respectively. Arnie is a value investor, and considers himself a student of Benjamin Graham.
Investing Philosophy:
Arnie applies value investment strategies as his investment philosophy. His investment research seeks to determine the appraised value of a company, often referred to as intrinsic value. Investments are then made at a significant discount, normally 40% to 65% below the company's current intrinsic value. This is his margin of safety. Arnie usually holds 35-40 companies when fully invested, and invests primarily in U.S. headquartered companies.
GuruFocus, November 25, 2009) Value Investing Guru Arnold Van Den Berg deserves our special attention. Like Warren Buffett, he practices what he says and says what he practices.GuruFocus would like to draw your attention to the library on his company’s website, especially the historical newsletters. More...
(GuruFocus, November 25, 2009) One characteristic of value investing community is that we have so many Investment Gurus who has done very well in their lives practicing what Ben Graham preached some sixty years ago when he published the first edition of The Intelligent Investor in 1949. More...
“As we begin the fourth quarter, we would like to update you on our year‐to‐date results, as well as share with you some of our overall thoughts and current investment strategy. Let’s begin with our performance. From the low on March 9, 2009, through September 30, 2009, our CM Value I composite (a proxy for our average account) has appreciated 62.20%. On a year‐to‐date basis through September 30, the CM Value I composite has appreciated 19.01%. This has been a meaningful change from how the year began. As a matter of fact, except for the stock market recovery that took place at the bottom of 1932, this has been the most significant six month recovery in market history. More...
Austin is becoming another center for Value Investing after the famous Business School in Columbia University and Omaha Nebraska. First we have Ronald Yacktman, whom we covered extensively recently; today I would like to reintroduce Arnold Van Den Berg. More...
Arnold Van Den Berg likes companies selling at historical low P/S ratios. Although he learned that it can still go lower even when it is at historical lows in 2008, he is still a great investor if you look at his long term track record. Through his firm Century Management, Arnold Van Den Berg owns 91 stocks with a total value of $1.4 billion. These are the details of the buys and sells. More...
Arnold Van Den Berg had his third down year in his 20 plus years as professional money manager, down 33%. Does that make him a bad investor? Probably not. This is his portfolio update for Q1 2009. He bought a lot of new stocks! Arnold Van Den Berg owns 91 stocks with a total value of $1.3 billion. These are the details of the buys and sells. More...
Arnold Van Den Berg Shareholder Letter: Today’s market environment presents both the challenge and the opportunity for the long-term investor. In other words, we continue to carefully sift through the markets to find the greatest divergence between price and value, while at the same time do our best to avoid falling prey to the extreme emotions of the crowd. Presently, we see many stocks whose prices discount complete disaster. The difficulty lies in not knowing how much lower individual stock prices may go nor how much more shortterm pain we must endure before we become the potential beneficiary of what is likely to be much higher returns into the future. More...
Most of the money that the Federal Reserve has injected into the system is not going anywhere or is offsetting the loss of credit in the money market and other capital markets. In fact, the chart below highlights that today’s problem is one of deflation, not inflation. More...
Arnold Van Den Berg has been in the investment business for more than 30 years, he only had two down years. This year will probably be his third. Arnold Van Den Berg owns 65 stocks with a total value of $2.4 billion. These are the details of the buys and sells during the third quarter. You can buy all of his buys much cheaper now. More...
Century Management client meeting videos. Arnold Van Den Berg was one of people who warned us about the credit bubble a few years. Strongly Recommended!More...
Arnold Van Den Berg likes to buy good companies sold at historical low P/S ratios. This has been working for him for more than 30 years... unitl last year. But did it really stop working? Maybe not. These are his buys and sells during the second quarter. Arnold Van Den Berg owns 64 stocks with a total value of $2.4 billion. More...
Like many value peers, Arnold Van Den Berg's fund did not do well last year. This is his shareholder letter. Arnold Van Den Berg likes to buy stocks that are traded at historical P/S ratios. More...
Arnold Van Den Berg likes to buy stocks that are sold at rolling 10-year low price/sales ratios. It usually takes him 6-12 months to invest clients' capital. These are his buys and sells during the first quarter of 2008. More...
Arnold Van Den Berg likes to buy good companies with 10-year rolling low p/s ratios. The prices of these companies are in down-trends. But by buying these out of favor companies Arnold Van Den Berg has achieved outstanding results over long term. These are his buys and sells during the 4 th quarter. More...
Arnold Van Den Berg likes to buy stocks that are sold at multiyear low of price to sales ratio and enterprise value to earning ratio. This has worked well for him over many years. These are his buys and sells during the third quarter. More...
Arnold Van Den Berg likes to buy quality stocks when they have the lowest rolling 10-year price to sales (P/S) ratios. That is how he achieved more than 20% a year over the past 20 years. Arnold Van Den Berg owns 57 stocks with a total value of $3.7 billion. These are the details of the buys and sells during the second quarter. More...
Arnold Van Den Berg buys quality stocks when they have the lowest rolling 10-year price to sales (P/S) ratios. That is how he achieved more than 20% a year over the past 20 years. These are his buys and sells during the first quarter of 2007. Arnold Van Den Berg owns 54 stocks with a total value of $3.5 billion. More...
Conservative value investor Arnold Van Den Berg buys quality stocks when they have lowest 10-year rolling price to sales (P/S) ratios. He is finding values in large caps. Bought BRK-B, CDWC, CPWM, ELK, ITW, WPL during the 4-th quarter of 2006. Arnold Van Den Berg owns 55 stocks with a total value of $3.3 billion as of Dec. 31, 2006. More...
During an interview with OID, Arnold Van Den Berg talked about why we're buying large-cap stocks, and why he believes that large-cap stocks represent an opportunity we haven't seen in many years. "In fact, we don't remember a time since 1983 in which we've owned as many large-caps as we do today. ..." More...
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in 1949. 