Charles Brandes (Trades, Portfolio), chairman of Brandes Investment Partners, the firm he founded in 1974, is an adherent of value investing, applying its principles to the portfolios that are managed by the firm as well as his own. The strategy has been successful. Last year, when many investors struggled in a challenging environment, Brandes’ U.S. Value Equity Fund produced positive returns exceeding 13%.
Brandes’ most noteworthy transaction in the third quarter was his purchase of a 2,571,543-share stake in Emerson Electric Co. (NYSE:EMR), a Ferguson, Mo.-based electrical equipment company. Brandes paid an average price of $49.17 per share. The deal had a 1.66% impact on Brandes’ portfolio. Continue Reading »