Value investor Charles Brandes (Trades, Portfolio), chairman of Brandes Investment Partners, which he founded in 1974, applies Benjamin Graham’s principles to all the portfolios managed by his firm. That approach produced returns of 13.34% last year, 37.6% in 2013 and 18.54% in 2012.
In his second-quarter dealings, Brandes’ mix of buys and sales were normal for him, although he added to more stakes than is typical for him. Brandes added to his positions in 111 companies in the second quarter. Many of those additions were modest, but some were significant. Continue Reading »