Arnold Van Den Berg

Arnold Van Den Berg

Last Update: 10-14-2016

Number of Stocks: 46
Number of New Stocks: 1

Total Value: $619 Mil
Q/Q Turnover: 2%

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

Arnold Van Den Berg Watch

  • Arnold Van Den Berg Exits Synalloy

    Guru Arnold Van Den Berg (Trades, Portfolio), who founded Van Den Berg Management in 1974 and later changed its name to Century Management, sold out his remaining -342,749 shares of Synalloy Corp (NASDAQ:SYNL) for an average price of $7.79 per share during the third quarter. Van Den Berg purchased his initial stake in Synalloy Corp during the third quarter of 2013 at an average price of $15.98 per share. Since his initial purchase three years ago, the company's market price has plummeted an estimated 40%.


    Synalloy Corp has a market cap of $86.59 million, an enterprise value of $112.9 million, a price-book (P/B) ratio of 0.92, a current ratio of 3.34 and a quick ratio of 1.05.

      


  • Arnold Van Den Berg Makes One Buy and Three Large Increases in 3rd Quarter

    Century Management founder Arnold Van Den Berg (Trades, Portfolio) added one new stock to his portfolio and made significant increases to his positions in three others in the third quarter, he reported Monday.


    Century Management is based in Austin, Texas, and has $1.026 billion in assets under management. Van Den Berg, a Holocaust survivor, started the fund in 1974, focusing on buying stocks at discounts to what he believes they are worth.

      


  • Van Den Berg's Best-Performing Buys

    Arnold Van Den Berg has handily beaten all of the indices since founding Century Management in 1974. He manages a portfolio composed of 46 stocks with a total value of $619 million. The following are the best performers of his investments.


    Agnico Eagle Mines Ltd. (AEM) with a market cap of $10.2 billion has performed 74.7% year to date. The stake represents 0.08% of the company's outstanding shares and 1.49% of Van Den Berg's total assets.

      


  • 10 Questions With Conference Speaker Dave Sather

    Dave Sather is the founder of Sather Financial Group, an asset management firm overseeing $400 million, based in Victoria, Texas, and a speaker at the 2017 GuruFocus Value Conference. He answers the questions below to introduce himself.


    1. How did you get into value investing?

      


  • Arnold Van Den Berg Exits Cloud Peak Energy

    Guru Arnold Van Den Berg (Trades, Portfolio) sold out of his position in Cloud Peak Energy (NYSE:CLD) at an average price of $2.04 per share during the second quarter. Van Den Berg originally purchased his stake in the company in the first quarter of 2015, paying an average price of $7.37 per share. Van Den Berg lost an estimated -65% since then, causing him to sell  367,315 shares.


    Cloud Peak Energy is a Delaware corporation that was organized on July 31, 2008. The company is headquartered in Wyoming and is one of the largest U.S. coal producers based on its reported 2015 coal sales. Cloud Peak Energy mines low sulfur, subbituminous coal and provides logistics supply services. The company owns and operates three surface coal mines in the Powder River Basin (PRB), the lowest cost major coal producing region in the nation. The Antelope and Cordero Rojo mines are located in Wyoming and the Spring Creek Mine is located in Montana. In 2015, Cloud Peak Energy shipped approximately 75 million tons from its three mines to customers throughout the U.S. and around the world.

      


  • Arnold Van Den Berg's CM Update: The Fed's Cautious Approach and Our Portfolios

    Federal Reserve Chair Janet Yellen's most recent statements suggest that the federal funds rate could increase this year. Should this occur, we believe it will be modest and have little impact on the long-term values of our various portfolios.

      


  • Van Den Berg Shares What Shaped His Investing Philosophy

    GuruFocus contributor Jae Jun wrote a good article here about value investor Arnold Van Den Berg (Trades, Portfolio). Van Den Berg is the CEO and founder of Century Management, which began in 1974. I had never heard of him but serendipitously learned that he recently gave a lecture at Google. I’ve posted the video below. It’s titled “Experiential Wisdom on Value Investing.”


    Van Den Berg comes across as a very likeable and inspirational person. He spends the first 10 minutes talking about his rough childhood. Van Den Berg grew up during World War II and his family lived down the street from Anne Frank. If you are familiar with the “Diary of Anne Frank,” then you have a good idea of what Van Den Berg’s upbringing was like. He tells the story of two groups of people during the war. One group helped his family hide from the Nazis. Another group turned his family in for extra rations. That episode fascinated him and wanted to understand the difference between the two groups. He eventually realized that it came down to people’s perspective on principles. Some people prioritize their principles above life, and others value their lives over principles.

      


  • Gurus' Stocks With Negative 3 Months Returns

    While gurus are still holding stakes in these companies, the prices of the stocks and returns of the investors are dropping. These are the worst-performing stocks over the last six months that have a long-lasting presence in more than four gurus’ portfolio.


    Key Energy Services Inc. (KEGX) reports a negative performance over the last three months with a price drop of 87.1%. Regardless of this, four mutual funds are holding the company with a total weight of 0.02% on their portfolios.

      


  • Upgrade Your Success With the Upside-to-Downside Ratio

    Out of the millions of people who invest, only 2,600 have watched this video.


    Out of the 2,600 who have watched this video, I bet less than 10% (260 people) will apply this technique.

      


  • Arnold Van Den Berg Exits Stake in Total

    Total (NYSE:TOT) is an integrated oil and gas company. It explores and develops oil and gas properties, liquefied natural gas, petrochemicals and specialty chemicals. It is also engaged in trading and shipping of crude oil and petroleum products. 


    Total is engaged in every sector of the oil industry, including upstream (hydrocarbon exploration, development and production) and downstream (refining, petrochemicals, specialty chemicals, trading and shipping of crude oil and petroleum products and marketing). It also operates in the renewable energies and power generation sectors, where its projects power hundreds of thousands of households across the world including California, United Arab Emirates and Chile.

      


  • Van Den Berg's Best Investments of 2nd Quarter

    Arnold Van Den Berg is a value investor who has been managing Century Management since its founding in 1974. During the second quarter, the guru raised several stakes, and the following are the ones with the highest performances since those buys.


    Liberty Media Corp. (LSXMK)

      


  • Arnold Van Den Berg Buys 6 New Stocks, Gets More Bullish on Oil Companies

    During the second quarter, founder of Austin-based Century Management Arnold Van Den Berg (Trades, Portfolio) cut back on his sizable positioning in gold miners while increasing holdings in health care and oil.


    Overall, Century Management bought six new stocks and sold 36. It had 47 stock investments in total at quarter-end, valued at $597 million. Basic materials stocks as a portion of the portfolio had decreased to 7.9% from 12.2% one year ago. Health care stock representation also grew to 6.5% from 1.9%.

      


  • Van Den Berg Made 6 New Buys in 2nd Quarter

    Arnold Van Den Berg (Trades, Portfolio), who founded Century Management more than 40 years ago, invested in half a dozen new buys in the second quarter. Most of Van Den Berg’s new buys were in health care-related companies, but his largest was not.


    The largest was Van Den Berg’s purchase of a 323,733-share stake in Liberty Media Corp. (NASDAQ:LSXMK), a Colorado-based mass media company. Van Den Berg paid an average price of $31.35 per share in a deal that had a 1.67% impact on the guru’s portfolio.

      


  • Arnold Van Den Berg Sells Coca-Cola, DaVita

    Arnold Van Den Berg (Trades, Portfolio) is a value investor and considers himself a student of Benjamin Graham. His investment research seeks to determine the appraised value of a company, often referred to as intrinsic value.


    The investor reduced his stake in DaVita HealthCare Partners Inc. (DVA) by 75.89% and with an impact of -3.14% on the portfolio.

      


  • Arnold Van Den Berg Buys Stake in Cardinal Health

    During the second quarter, guru Arnold Van Den Berg (Trades, Portfolio) purchased a 77,330 stake in Cardinal Health (NYSE:CAH) at an average price of $79.76 per share. Cardinal Health is one of the largest health care supply chains in North America. The purchase had a 1.01% impact on Van Den Berg’s portfolio.


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  • Century Management's Perspective on the Brexit Vote

    After months of headlines about the so-called Brexit vote, last Thursday, June 23, the United Kingdom (“UK”) voted 52% to 48% to leave the European Union (“EU”). The issues fueling the frustration and unhappiness of so many British citizens with the previous status quo are three-fold:

      


  • Stocks Richard Pzena Has Bought for 2 Quarters

    Richard Pzena (Trades, Portfolio) is founder and co-chief investment officer of Pzena Investment Management LLC, with more than $24 billion under management. In both fourth quarter 2015 and first quarter 2016 the guru bought shares in the following stocks:


    Key Energy Services Inc. (KEG)

      


  • Kohl’s Makes Historical Low P/S and Historical Low P/B Lists

    The two “Historical Low” screeners, Historical Low P/S and Historical Low P/B, picked Kohl’s Corp. (NYSE:KSS) as one of the most undervalued stocks in the retail industry.


    Companies that have historical low P/S and P/B ratios usually become top stocks to buy among gurus. According to the January 2010 new feature announcement, Arnold Van Den Berg (Trades, Portfolio) of Century Management predominantly uses the low P/S strategy to choose stocks in which to invest. Since 2010, the historical low P/S and historical low P/B strategies have outperformed the Standard & Poor’s 500 index nearly each and every year, as summarized in the table below.

      


  • IBM Has More Than Doubled Dividend in 6 Years

    International Business Machines Corporation (NYSE:IBM) has raised its quarterly dividend to $1.40 per share or $5.60 on an annual basis from its previous $1.30 per share or $5.20 per year. The company has a great history of returning value to its shareholders, and we can state that because the firm has increased its dividend every year over the last 21 years.


    Last year the dividend payout was supported by $13.42 diluted EPS. Earnings were growing at a compound annual growth rate of 9%, while dividends grew at a rate of 18%. However, this situation of dividends growing faster than earnings can continue in the future as the current payout ratio is 0.39. During the past 13 years, the highest dividend payout ratio was 0.62, the lowest was 0.09 and the median was 0.19.

      


  • Arnold Van Den Berg Buys Shares of Helicopter Operating Company

    Guru Arnold Van Den Berg (Trades, Portfolio) began his investment career in 1968 after he received his securities license. From there, Van Den Berg worked at John Hancock Insurance and then for Capital Securities. It was during this time when the market saw one of the worst declines in Wall Street histroy when the stock market lost 46% of its value in a single calendar year from 1973 to 1974.


    In 1974, he founded Van Den Berg Management, which is now known as Century Management and currently owns 77 stocks with a total valuation of $583 million.

      


  • Arnold Van Den Berg's Largest Buys in 1st Quarter

    Arnold Van Den Berg is a value investor who founded Century Management in 1974. He applies value investment strategies as his investment philosophy. He focused his first-quarter buys as follows:


    The guru increased his stake in Allegheny Technologies Inc. (ATI) by 66.47%  with an impact of 2.16% on the portfolio.

      


  • Van Den Berg Almost Sells Out 4 Stakes in 1st Quarter

    Not so long ago Arnold Van Den Berg (Trades, Portfolio) regularly sold out several stakes in his portfolio each quarter. In the fourth quarter of 2015, he sold one stake – the first time he sold only one in a quarter since the second quarter of 2012 – and he sold only two in the first quarter, but he came close to selling out four more.


    Van Den Berg sold 99.87% – 721,883 shares – of his stake Chicago Bridge & Iron Co. NV (NYSE:CBI), a Chicago-based engineering, construction and oil and gas company, for an average price of $35.75 per share. The transaction had a -5.01% impact on Van Den Berg’s portfolio and left him with a stake in the company of 970 shares.

      


  • Early Oil Investor Arnold Van Den Berg Keeps Buying Energy Stocks in Q1

    A guru investor from Austin, Arnold Van Den Berg (Trades, Portfolio), predicted $70 oil by the end of the year. With the price of a barrel of Bren crude oil hovering around $44, Van Den Berg signaled he still believes his case by buying three new energy-related companies in the first quarter.


    Van Den Berg outlined his thesis on oil in a January paper, “CM Outlook for Oil,” from his advisory firm, Century Management. In the paper, Van Den Berg said the second half of the year should bring higher prices as U.S. production declines, OPEC continues full production and spare capacity falls to near zero.

      


  • Arnold Van Den Berg Ups Holding in Comstock Mining

    Guru Arnold Van Den Berg (Trades, Portfolio) began his investment career 48 years ago working for John Hancock Insurance and then for Capital Securities. During this time, Van Den Berg saw some of the greatest bear markets in history, which helped him to fully learn and understand how the stock market functioned.


    In 1974, he founded Van Den Berg Management, which is now known as Century Management. Today Century Management currently owns 77 stocks with a total value of $583 million.

      


  • Undervalued Companies With Growing EPS

    Companies with growing EPS are often a good investment as they can return a very good profit to investors. Here is a selection of the most undervalued companies according to the DCF calculator that have a five-year growing EPS.


    Atwood Oceanics Inc. (ATW) EPS grew by 11% over the last five years and according to the DCF calculator, the stock is undervalued and is trading with a margin of safety of 95%.

      


  • Gold Miners Rebounding as Gold Rises

    As the market melts, gold is glittering and returning gold miners some of their lost luster.


    After a five-year, 56% slide, the S&P/TSX Global Mining Index has begun to form a second leg of a v-shape, rising 16.6% year to date. The SPDR Gold Trust ETF (GLD) traveled in almost lock step, up 17.7% year to date, defying the market’s 0.54% retreat.

      


  • Arnold Van Den Berg Cuts Stake in Coca-Cola by Nearly Half

    Arnold Van Den Berg, who founded Century Management in 1974, reduced 39 stakes in the fourth quarter with most reductions below 10%. Following are his largest reductions.


    The largest reduction was in Great Lakes Dredge & Dock Corp. (GLDD) in which he reduced his stake by 99.87% with an impact of -0.68% on the portfolio.

      


  • Guru Sheds Nearly Entire Stake in Great Lakes Dredge & Dock

    Guru Arnold Van Den Berg (Trades, Portfolio) slashed his stake by nearly 100% in Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) in the fourth quarter.


    Van Den Berg is a long-term value investor who got his securities license 48 years ago. He began his career working for John Hancock Financial insurance where he saw some of the toughest bear markets in the history of the stock market. It was during these years that Van Den Berg discovered Benjamin Graham and David Dodd. Through his research on their highly successful value discipline investment philosophy, Van Den Berg decided to start his own investing firm. In 1974 he founded Century Management. The firm currently owns 70 stocks with a total value of over $561 million.

      


  • Van Den Berg Reduces Position in 5-Star Company

    Guru Arnold Van Den Berg (Trades, Portfolio) began his investment career shortly after receiving his securities license in 1968. From there he began to work for John Hancock Insurance and then Capital Securities. Van Den Berg worked for the next six years while seeing some of the worst declines on Wall Street since the Great Depression. He turned adversity into his advantage and he began to study Benjamin Graham's mental models for investing. In 1974, Van Den Berg founded Van Den Berg Management, which is now known as Century Management.


    In the fourth quarter of 2015, Van Den Berg reduced his holdings in Chicago Bridge & Iron Co. (NYSE:CBI).

      


  • Arnold Van Den Berg's Top 4th Quarter Buys

    Arnold Van Den Berg (Trades, Portfolio) acquired 17 new stocks during the fourth quarter. He founded Century Management in 1974. As a value investor and student of Benjamin Graham, Van Den Berg has handily beaten all of the indices. The following are a few of his new buys


    He bought 145,130 shares in Jardine Matheson Holdings Ltd. (JMHLY) with an impact of 1.25% on the portfolio. He now holds 0.02% of the company's outstanding shares.

      


  • Van Den Berg Sells Nearly One-Third of Stake in Markel

    Arnold Van Den Berg (Trades, Portfolio), who founded Century Management in 1974, made 17 new buys in the fourth quarter, but his most noteworthy transaction was a reduction.


    Van Den Berg sold more than 32% of his stake in Markel Corporation (NYSE:MKL), a Henrico County, Virginia-based holding company, selling 11,007 shares for an average price of $871.24 per share. The deal had a -1.51% impact on Van Den Berg’s portfolio.

      


  • Arnold Van Den Berg's CM Outlook for Oil - January 2016

    •U.S. oil production is on the decline.


    •Global demand for oil is increasing.

      


  • 5-Year Lows: Hecla Mining, Solar Capital, Atwood Oceanics, Harsco

    According to GuruFocus' list of five-year lows, these guru stocks have reached their five-year lows: Hecla Mining Co., Solar Capital Ltd., Atwood Oceanics Inc., Harsco Corp.


    Hecla Mining Co. (NYSE:HL) reached $1.96

      


  • Ensco, Atwood Oceanics, Allegheny Technologies Among Van Den Berg's Holdings With High Yields

    Arnold Van Den Berg (Trades, Portfolio) founded Century Management in 1974 and since then the fund has provided separate account money management services for individuals, families, trusts, partnerships, pensions, foundations and businesses. Following are stocks that have high dividends in his portfolio.


    Ensco PLC (ESV)

      


  • Arnold Van Den Berg Sells Nine Holdings in Third Quarter

    Since founding Century Management in 1974, value investor Arnold Van Den Berg has handily beaten all of the indices. His investment research seeks to determine the appraised value of a company, often referred to as intrinsic value. He manages a portfolio of 54 stocks with a total value of $585 million, and during the third quarter he sold the following nine stocks.


    He sold out his stake in Diamond Offshore Drilling Inc. (DO) with an impact of 2.5% on the portfolio.

      


  • Arnold Van Den Berg Buys China, Oil in New Q3 Holdings

    Value investor Arnold Van Den Berg (Trades, Portfolio) did not let a choppy quarter go by without adding some low-priced names to his portfolio, namely more oil and gas stocks and a small interest in China.


    Van Den Berg’s total portfolio contained 54 stocks, including four new buys in the third quarter, which gave it 21% turnover. The value of his stocks is $585 million, weighted most heavily with Industrial positions at 25.2% followed by Financial Services at 24.4%.

      


  • Atwood Oceanics Discounting 2016 Concerns

    Atwood Oceanics (NYSE:ATW), which is in the business of offshore drilling, has delivered strong results for the first nine months of FY15. However, from a peak of $35.35 in May 2015, the company’s stock has slumped to current levels of $19.4. This article discusses the reasons for this decline and my current view on the stock.


    Before talking about the steep decline in the company’s stock, I would like to briefly discuss the company’s results for the first nine months of FY15. For nine months ended June 2015, Atwood Oceanics reported revenue of $1.0 billion as compared to revenue of $850 million for the nine months ended June 2014. For the same period, the company reported an operating cash flow of $484 million as compared to $339 million. Therefore, the results have been strong and this has been backed by continuing contracts for the company’s modern rig fleet.

      


  • Offshore Driller's Valuation After the Dividend Cut

    In this article let's take a look at Ensco PLC (NYSE: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 that is the newest in the industry.


    We all know that a dividend cut, even a little one, is not welcome in the market. So let´s take a look at the new intrinsic value generated. For investors looking at a buy recommendation, we have seen in a previous article that Duke Energy (NYSE:DUK) has an upside potential.

      


  • 5-Year Lows: Atwood Oceanics Inc, HMS Holdings Corp, Advanced Micro Devices Inc, and Government Properties Income Trust

    According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: Atwood Oceanics Inc, HMS Holdings Corp, Advanced Micro Devices Inc, and Government Properties Income Trust


    Atwood Oceanics Inc (NYSE:ATW) Reached $22.39

      


  • Arnold Van Den Berg Initiates Position in General Motors

    Arnold Van Den Berg (Trades, Portfolio) is the founder of Century Management. Van Den Berg is a value investor, and considers himself a student of Benjamin Graham.


    Arnold 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. Arnold usually holds 35-40 companies when fully invested, and invests primarily in U.S. headquartered companies.

      


  • Van Den Berg Adds Four Stakes to Portfolio in Second Quarter

    Arnold Van Den Berg (Trades, Portfolio), whose Century Management recorded return percentages in double digits in 2013 and 2012, prefers to apply value investment strategies as his investment philosophy. With that in mind, he added four new stakes to his portfolio in the second quarter.


    The most significant acquisition was his 478,985-share stake in General Motors Co (NYSE:GM), an automotive company based in Detroit, for an average price of $35.7 per share. The transaction had a 2.42% impact on his portfolio.

      


  • Van Den Berg Sells UCP, Houston Wire & Cable

    Value investor Arnold Van Den Berg (Trades, Portfolio) is the portfolio manager for the CM Value I fund at his Century Management firm. On June 30, the fund sold out of two holdings — UCP Inc (NYSE:UCP) and Houston Wire & Cable Co (NASDAQ:HWCC) — according to data reported by GuruFocus Real Time Picks.


    Van Den Berg sold 620,335 shares of UCP for an average of $8.35 per share. UCP acquires and develops land and sells lots to third-party homebuilders. The stock dropped 45% over the last year, closing at $7.15 on July 9.

      


  • Arnold Van Den Berg Decreases His Position in UCP, Inc.

    Arnold Van Den Berg (Trades, Portfolio) of Century Management has been actively trading UCP, Inc. (NYSE:UCP) in the past few months. On April 30 he added 62,831 shares increasing his portfolio stake in the stock by 10.13%. On June 30 he decreased his position in UCP, Inc. by 91.39% selling 624,353 shares. He currently holds 58,813 shares.


      


  • Arnold Van Den Berg's Undervalued Stocks Trading At Low P/E

    Arnold Van Den Berg (Trades, Portfolio) is a value investor with 43 years of industry experience and founder of $2 billion firm Century Management. The company closely align their interests with those of their clients.


    His portfolio is composed of 61 stocks, and five have been bought during the last quarter. Total value of the portfolio is $710 million with 15% Q/Q Turnover.

      


  • Oil Companies Dominate Highest-Yielding S&P 500 Stocks

    Three of the five highest-yielding S&P 500 stocks are oil and gas related companies, according to results from GuruFocus’ All-In-One-Screener.


    The screener can be used to sort stocks with more than 150 filters. To find S&P 500 companies with high dividend yields, I selected Yes in the “In the S&P 500” field on the Fundamental tab. Then I sorted the resulting list by clicking the Yield” column to sort from highest to lowest.

      


  • Arnold Van Den Berg and the Importance of Dreams

    Last year, The Manual of Ideas interviewed Arnold Van den Berg in what was, in my humble opinion, one of the most inspiring interviews I have ever read from a great value investor. Van Den Berg founded Century Management in 1974 with no formal college education. It was through self-study, dedication and experience that Van Den Berg gained his market knowledge. I won’t comment much on this interview, since his words are very candid and inspiring by themselves.


    On perseverance:

      


  • Arnold Van Den Berg Keeps Buying Chicago Bridge and Iron Company

    Arnold Van Den Berg (Trades, Portfolio) is the founder of Century Management. Van Den Berg is a value investor, and considers himself a student of Benjamin Graham.


    Arnold 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. Arnold usually holds 35-40 companies when fully invested, and invests primarily in U.S. headquartered companies.

      


  • Model Portfolio Review – May 19, 2015

    In the past six years, the S&P 500 gained 24.71% in 2009, 11.65% in 2010, 0% in 2011, 12.1% in 2012, 31.8% in 2013, and 11.39% in 2014. The market performance looks good. Could investors make more money by investing in GuruFocus Model Portfolios? It is time to check the performances. The following are the details of the performances of the four value strategies:


    Value Strategies (Long):

      


  • Arnie Van Den Berg increases His Stake in Chicago Bridge and Iron

    Since founding Century Management in 1974, Arnold Van Den Berg has handily beaten all of the indices. Mr. Van Den Berg is a value investor, and considers himself a student of Benjamin Graham.


    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.

      


  • Van Den Berg Trades in Canadian Mining Stocks in First Quarter

    Value investor Arnold Van Den Berg (Trades, Portfolio) founded Century Management in Austin, Texas, more than 40 years ago. Austin is a long way from the Canadian border, but that didn’t keep Van Den Berg from dealing in – mostly selling but, in one case, buying – shares in eight Canadian-based stocks in the first quarter.


    Van Den Berg sold his 365,155-share stake in Asanko Gold Inc (TSX:AKG), a Vancouver-based gold mining company whose crown jewel is a gold mine in Ghana. Van Den Berg sold the shares for an average price of $1.54 per share with an impact of -0.064% to his portfolio.

      


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