Charles de Vaulx

Charles de Vaulx Premium Guru

Last Update: 08-28-2015
Related: IVA International Fund

Number of Stocks: 81
Number of New Stocks: 2

Total Value: $5,016 Mil
Q/Q Turnover: 8%

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

Charles de Vaulx Watch

  • Charles de Vaulx's Stocks Trading with Low P/E

    Charles de Vaulx (Trades, Portfolio) is the chief investment officer and portfolio manager at International Value Advisers, LLC (IVA). He joined the firm in May 2008. Until March 2007, de Vaulx was portfolio manager of the First Eagle Global, Overseas, U.S. Value, Gold and Variable Funds, together with a number of separately managed institutional accounts.

    De Vaulx employs a value oriented approach and will seek investments in companies of any size that typically have one or more of the following characteristics: financial strength, temporarily depressed earnings or entrenched franchises. However, the overriding attribute of such companies is that their securities offer fundamental value. He is a global investor as most of his portfolio is invested in international companies.


  • IVA Worldwide Fund Q2 2015 Commentary

    The IVA Worldwide Fund Class A (NAV) (“the Fund”) ended the quarter on June 30, 2015 with a return of -0.90% versus the MSCI All Country World Index (“Index”) return of 0.35%, bringing YTD performance to 0.57% versus the Index return of 2.66% for the same period.

    The quarter was marked by bouts of volatility in global markets caused by political uncertainty in Greece, anxiousness over future interest rate increases in the U.S. and turbulence in the Chinese stock market. We continue to see stretched market valuations globally, driven by ultra-low interest rates as investors focus more on relatives than fundamentals in their search for yield. As bottom-up, fundamental investors, it remains difficult for us to find quality opportunities in this environment.


  • Charles de Vaulx Sells Portions of Three of His Most Valuable Stakes

    French-born asset manager Charles de Vaulx (Trades, Portfolio), partner, chief investment officer and co-portfolio manager at International Value Advisers, looks for many qualities in potential investments, but the most important is fundamental value. International Value Advisers’ record has been pretty good in recent years in spite of a certain amount of volatility in the market. IVA returned 3.2% last year, nearly 17% the year before and 6.63% in 2012.

    De Vaulx left most of the 12 most valuable stakes in his portfolio untouched during the first quarter. His top two holdings – Astellas Pharma Inc (TSE:4503) and Berkshire Hathaway Inc (NYSE:BRK.A) – haven’t been touched since 2014. Neither, for that matter, have his fourth- and fifth-most valuable stakes – Oracle Corporation (NYSE:ORCL) and Samsung Electronics Co Ltd (XKRX:005930).


  • Charles De Vaulx On The Absurdity Of Negative Interest Rates

  • Charles de Vaulx's IVA Funds Newsletter May 2015

    Dear Shareholder:


  • Charles de Vaulx Comments on DeVry Education Group Inc

    Conversely, one area that hurt us this quarter was our U.S. stocks. They averaged a return of -1.6%, compared to those in the benchmark which averaged a gain of 1.2%, and detracted -0.4% from our return led by poor performance from DeVry Education Group Inc. (DV), a for-profit higher education company in the consumer discretionary sector. We believe this company is suffering unfairly from issues plaguing its competitors and we think many investors fail to recognize the quality of DeVry’s medical and nursing schools, thus we took advantage of the share price weakness to add to our position.

    From Charles de Vaulx (Trades, Portfolio)’ IVA Worldwide Fund Q1 2015 Review.  

  • Charles de Vaulx’ IVA Worldwide Fund Q1 2015 Review

    The IVA Worldwide Fund Class A (NAV) (“the Fund”) ended the quarter on March 31, 2015 with a return of 1.49% versus the MSCI All Country World Index (“Index”) return of 2.31%. Since inception on October 1, 2008, on an annualized basis, the Fund returned 10.32% versus the Index return of 8.09% for the same period.

    Global equity markets delivered a moderate gain this quarter despite some big market developments. In January, the Swiss Central Bank announced they would abolish its peg between the Swiss franc and the euro, which resulted in the Swiss franc appreciating significantly against the euro. Additionally, the European Central Bank announced they would launch a quantitative easing program in March in order to boost the region’s inflation rate. This resulted in the euro falling significantly against the U.S. dollar, at one point to a 12 year low. Lastly, the World Bank cut its forecast for global growth in January, warning that the world economy remained overly reliant on the U.S. recovery.


  • IVA International Fund Adds Four Positions to Portfolio

    IVA International Fund (Trades, Portfolio) added four new positions to its portfolio during the fourth quarter of 2014. The Chief Investment Officer of the firm is guru Charles de Vaulx (Trades, Portfolio).

    There are currently 92 stocks in the portfolio, valued at $2.04 million with a quarter over quarter turnover of 9%.


  • Charles de Vaulx Adds Four New Positions to Portfolio

    Charles de Vaulx (Trades, Portfolio) of IVA Worldwide Fund added four new positions to his portfolio, which includes 90 stocks and has a quarter over quarter turnover of 10%.

    IVA Worldwide invests in stocks believed to be at a discounted price, in relation to the intrinsic value estimate. The firm's definition of intrinsic value is "the amount that a knowledgeable investor or corporate competitor would pay - in cash - for 100% of the economic and controlling interests of a company.”


  • Charles de Vaulx Buys 4 New International Stocks in Fourth Quarter

    Renowned global investor Charles de Vaulx manages the IVA Worldwide Fund and purchased four new stocks for it in the fourth quarter.

    ‘The high-priced environment of the past year has rendered it difficult for de Vaulx to find low-priced stocks, and he placed the fund’s cash exposure at 35.8%. In his fourth quarter letter, de Vaulx said:


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