Jean-Marie Eveillard

Jean-Marie Eveillard

Last Update: 2014-05-20

Number of Stocks: 391
Number of New Stocks: 48

Total Value: $37,719 Mil
Q/Q Turnover: 7%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Jean-Marie Eveillard' s Profile & Performance

Profile

Jean-Marie Eveillard is Chief Investment Officer of the Arnhold and S. Bleichroeder Advisers, LLC Global Value Team and Portfolio Manager of First Eagle Global, Overseas, Gold, U.S. Value and Overseas Variable Funds. He was born in Paris, came to the U.S. in 1968, and became portfolio manager in 1979. Mr. Eveilland is now the firm's adviser.

Web Page:http://www.firsteaglefunds.com/

Investing Philosophy

Jean-Marie Eveillard is a value oriented investor. His approach to asset management is defined by the conviction that absolute long-term performance is the best way to preserve capital, rather than attempting to compete against the short-term movements of the major indices, and rigorous application of bottom-up fundamental analysis intended to reduce risk. His strategy incorporates on-site research by actively visiting companies and talking to managers to gain rounded, first-hand knowledge of investment prospects. Eveillard buys securities whose intrinsic value and long-term potential outweighs market risk.

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of First Eagle Global Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201315.4931.55-16.1
201212.4615.4-2.9
2011-0.192.08-2.3
3-Year Cumulative29.6 (9%/year)55 (15.7%/year)-25.4 (-6.7%/year)
201017.5815.062.5
200929.9926.463.5
5-Year Cumulative98.1 (14.7%/year)125.5 (17.7%/year)-27.4 (-3%/year)
2008-21.06-3715.9
20079.95.614.3
200620.515.794.7
200514.914.9110.0
200418.37126.4
10-Year Cumulative181.7 (10.9%/year)104.1 (7.4%/year)77.6 (3.5%/year)
200337.6428.78.9
200210.23-22.132.3
200110.21-11.922.1
20009.72-9.118.8
199919.5621-1.4
15-Year Cumulative518 (12.9%/year)98.3 (4.7%/year)419.7 (8.2%/year)
1998-0.2628.6-28.9
19978.5433.4-24.9
199613.6423-9.4
199515.2437.6-22.4
19942.521.31.2
20-Year Cumulative798.2 (11.6%/year)483.2 (9.2%/year)315 (2.4%/year)
199326.1510.116.0
19928.417.60.8
199117.9330.5-12.6
1990-1.3-3.11.8
198917.2131.7-14.5
25-Year Cumulative1575.9 (11.9%/year)1050.7 (10.3%/year)525.2 (1.6%/year)
198814.1516.6-2.5
198713.765.18.7
198625.0218.66.4
198532.7131.61.1
19842.866.1-3.2
30-Year Cumulative3614 (12.8%/year)2235.1 (11.1%/year)1378.9 (1.7%/year)
198324.0322.41.6
198231.5621.410.2
19818-513.0
198031.6632.3-0.6

Top Ranked Articles

Jean-Marie Eveillard: Why You Should Emulate Him
A couple of days ago, I revealed that I had purchased an old investment book some time back entitled "Value Investing with the Masters" by Kirk Kazanjian. I was less than satisfied with the book and had placed it on my bookshelf mostly unread. Recently, I decided to endure what I felt was overall a lackluster performance at interviewing some investing greats and take the time to fully read it. After all, I reasoned, certainly there must be something I can take out of each chapter and apply it to myself or my investing style. Read more...
Volatility - Opportunity to the Investor, Risk to the Speculator
On January 19, Matt McLennan, portfolio manager of the First Eagle Global, Overseas, and U.S. Value Funds, in addition to being the successor of famed investor Jean-Marie Eveillard, appeared on WealthTrack with Consuelo Mack (here). When Consuelo asked him about volatility in equity markets, Mr. McLennan responded with something that’s worth talking about: Read more...
Will Tyco End Up Like ITT? Reviewing a Break-up
It’s now been four and a half months since ITT (ITT) broke itself up into three separate companies. I advocated investing in ITT before the break-up, and I wanted to review the position and see if it met my expectations. It’s also worthwhile to review this investing style since Tyco (TYC) is also doing a three way break-up by the end of the year. Read more...
FULL TRANSCRIPT and Video of Jean-Marie Eveillard's Interview with Consuelo Mack
CONSUELO MACK: This week on WealthTrack, a rare interview with Great Investor Jean-Marie Eveillard. First Eagle’s legendary value investor on the turbulent and shifting economic currents flowing around the world, from the U.S. to Europe to the Middle East to Asia and his personal strategies to navigate them, next on Consuelo Mack WealthTrack. Read more...
Made in Japan: A New Bull Market
Japan has now been through a 20-year bear market. Tokyo’s Nikkei – think of it as Japan’s Dow Jones Industrial Average – put in a new low last year. Even though it’s rallied a bit since then, it’s still down about 75% from its all-time high in 1989. That’s a brutal bear market. Read more...
» More Jean-Marie Eveillard Articles

Commentaries and Stories

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Potash Corp. Has Long Term Catalyst
In this article, let's take a look at Potash Corp. of Saskatchewan, Inc (POT), a $30.61 billion market cap company, which is the world's largest integrated fertilizer and related industrial and feed products company by capacity. More...

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First Eagle Overseas Fund Second Quarter 2014 Commentary
Market Overview More...

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First Eagle Global Fund Comments on Teradata Corporation
The biggest laggard in the portfolio was Teradata Corporation (TDC), a data analytics company. We believe it is a stable cash flow generating business based on recurring maintenance revenues with high customer retention rates. More...

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First Eagle Global Fund Comments on Intel Corporation
Technology stocks also performed well, including Intel Corporation (INTC), as investors have recognized that that company’s scale in manufacturing may give it an edge in winning mobile device business as it evolves its product focus towards this market. More...

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First Eagle Global Fund Second Quarter 2014 Commentary
Market Overview More...

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Just Post-It: 3M Is a Good Bet for Your Portfolio Today
In this article, let's take a look at 3M Company (MMM), a $94.6 billion market cap, diversified global company that operates as a diversified technology company with manufacturing operations around 70 countries worldwide. I was impressed how the company survived to the last U.S. recession, reducing working capital to increase free cash flow and remaining profitable, so I think the next is worth to read and invest. More...

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No Semiconductor Company Has Been Able to Beat Linear Technology's Profitability
According to the Semiconductor Industry Association (SIA), worldwide sales of semiconductors reached $26.34 billion for the month of April 2014, an increase of 11.5% from the April 2013 with sales of $23.62 billion. The good news is that it is expected that this trend continue during the 2014 and 2015. More...

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This Hedge Fund Has Three Interesting Top Holdings
Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Paulson & Co Inc. More...

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A Hedge Fund with Strong Focus on China-based Companies
Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Shah Capital Management LLC.Recently the fund reported its equity portfolio, as at the end of June. The total value of the portfolio amounted to $134.9 million, up from $131.6 million disclosed at the end of the previous quarter. Consequently, the fund's total return was 2.5% in the last quarter. The filing revealed that at the end of June, the fund added 15 new positions to its equity portfolio. The top ten portfolio holdings as of the end of the quarter represented 95.31%. The largest changes from previous 13-F´s fillings are in the tech and consumer discretionary sectors.In this article, we have selected three companies, in which the fund holds the largest stakes, in terms of market value.The first on the list is China Yuchai International Limited (CYD), in which the fund disclosed a $49.83 million stake with over 2.34 million shares.Strategic AnnouncementsRecently, the company made two important announcements. Firstly, it announced that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited, has entered into an equity transfer agreement to restructure the ownership of its joint venture company - Yuchai Remanufacturing Services (Suzhou) Co., Ltd. The latter will become a wholly-owned subsidiary of Guangxi. Further, the firm announced that new-energy buses running on engines supplied by Guangxi Yuchai have been launched in a city located in the Northeast China.Since the same quarter one year prior, revenues rose by 18.3%. Also, it has improved earnings per share by 3 cents in the most recent quarter compared to the same quarter a year ago. The net income increased by 3.6% when compared to the same quarter one year prior, going from $27.94 million to $28.95 million. As a matter of fact, the share price is higher by 6.39% to $21.97 after the company announcement.Other hedge fund gurus have also been active in the company. Jean-Marie Eveillard (Trades, Portfolio) has taken long positions too.UTStarcom Holdings Corp. (UTSI) comes in next, the fund owning over 10.25 million shares, worth $30.02 million.Good SalesThe Company has sold over $250 million of packet optical transport products that form the backbone of telecommunications network infrastructure. We expect the company to improve in several on its businesses.It reported earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The firm has increased its ROE despite is still negative.Other hedge fund gurus have also been active in the company. Chuck Royce (Trades, Portfolio) and Jim Simons (Trades, Portfolio) have taken long positions in the first quarter of 2014.In Chiquita Brands International Inc. (CBQ) the fund disclosed ownership of over 1.23 million shares, worth $13.34 million.Ten YearsIts biodiversity partnership at the Nogal Nature and Community Project, created ten years ago in Costa Rica as a pilot contributing to the conservation of the region`s exceptional biodiversity continues to be an important driver for the company.Revenues and EPS declined in the most recent quarter compared to the same. Although its ROE greatly increased when compared to its ROE from the same quarter one year prior, is still negative.Other hedge fund gurus have also been active in the company. Steven Cohen (Trades, Portfolio) has taken long positions.Final CommentProbably the worst mistake a new investor can make is to not properly diversify their portfolio. But we already saw that this hedge fund has almost 70% of its portfolio in three stocks. The stock portion of the hedge fund portfolio won't be diversified, because it invests in a few individual stocks.Investors need at least twenty or thirty carefully selected individual stocks to be truly diversified. Diversify your portfolio asset allocation by spreading money amongst a variety of stocks is what I recommend, because it’s simple, diversification can work and can prevent your entire portfolio from losing value.Disclosure: Omar Venerio holds no position in any stocks or funds mentioned. More...

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Top Insider Sells Highlight: Google Inc.
CEO and 10% Owner of Google Inc (GOOG) Lawrence Page sold 33,332 shares on July 14 at an average price of $586.48. The total transaction amount is $19,548,551. More...

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In a Weak-Dollar Environment, Gold Is Sought as "Safe-Haven" Asset
Gold is a limited commodity that retains consumer´s purchasing power even under inflationary economies. The advantages are that gold is not at the mercy of government policy, so it cannot be easily issued or mined. Additionally, it is used to hedge, so it is a currency hedge an inflation hedge and most importantly, a diversification tool in your portfolio. More...

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5-Year Lows: Pacific Coast Oil Trust, Sears Hometown & Outlet Stores Inc, Dynex Capital Inc, and Landauer Inc.
According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: Pacific Coast Oil Trust, Sears Hometown & Outlet Stores Inc, Dynex Capital Inc, and Landauer Inc. More...

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5-year lows: Arch Coal Inc, Infoblox Inc, Schnitzer Steel Industries Inc, Ply Gem Holdings Inc.
According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: Arch Coal Inc, Infoblox Inc, Schnitzer Steel Industries Inc, Ply Gem Holdings Inc. More...

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Top Guru Owned Large-Cap Stocks James Barrow,Jean-Marie Eveillard - Top Guru Owned Large-Cap Stocks
Using the GuruFocus Aggregated Portfolio Screener you can filter results to see what companies maintain the highest amount of guru ownership. By using this screener, we filtered down to see large cap companies which are held by the most gurus. The following five large-capped companies are held by the largest number of gurus during the past quarter. More...

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Ensco Could Be a Good Bet
In this article let's take a look at Ensco PLC (ESV), the international offshore oil and gas contract drilling company, which is the world's second largest offshore drilling rig fleet amongst competitive rigs, with an ultra-deepwater fleet which is the newest in the industry. More...

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Top African Guru Held Stocks All Come from the Gold Industry Jean-Marie Eveillard,John Paulson - Top African Guru Held Stocks All Come From The Gold Industry
Using the GuruFocus Aggregated Portfolio Screener you can filter results to see what companies maintain the highest amount of guru ownership. By using this screener, we filtered down to see which African-based companies are held by the most gurus. By doing this we found out that the top three companies held by gurus during the first quarter are headquartered in Africa are based in the gold and natural minerals industries. More...

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Philip Morris Is a Leading Tobacco Maker in an Incredible Profitable Industry Jean-Marie Eveillard,Joel Greenblatt - Philip Morris Is A Leading Tobacco Maker In An Incredible Profitable Industry
In this article let's take a look at Philip Morris International Inc. (PM), the global tobacco giant that sells cigarettes in over 200 countries, which manufactures and markets the number one cigarette brand: Marlboro. More...

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The Top Guru-Held Canadian Stocks of the First Quarter Jean-Marie Eveillard,PRIMECAP Management - The Top Guru-Held Canadian Stocks Of The First Quarter
Using the GuruFocus Aggregated Portfolio Screener you can filter results to see what companies maintain the highest amount of guru ownership. By using this screener, we filtered down to see which companies based in Canada were held by the highest number of gurus. The following five companies come from a variety of industries, are Canadian-based and are held by the largest number of gurus. More...

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Gold-Focused Guru John Paulson Reports First Quarter Holdings John Paulson,Jean-Marie Eveillard - Gold-Focused Guru John Paulson Reports First Quarter Holdings
John Paulson is the President and Portfolio Manager of Paulson & Co. The guru became a guru by short-selling subprime mortgages in 2007, but is most known for his stance on gold. According to Paulson’s Investing Philosophy, the fund seeks to make money from situations when one public company announces plans to take over another. Merger arbitrage hedge funds primarily study equity markets, but they also research the market for credit default swaps, a form of insurance that starts paying out as soon as a credit security falls in value. More...

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First Eagle Global Fund First Quarter 2014 Commentary
Market Overview More...

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