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Slideshows From The Value Investing congress

October 18, 2010
This will be my last article on the value investing congress.

Most of the speakers had slideshows which accompanied their presentations. I have embedded all the speakers slideshows from the congress and embedded them here. Each document will contain a brief introduction.

Enjoy!

Amitabh Singhi is Managing Director at Surefin Investments, an India based portfolio management and investment advisory company. Since inception in mid-2001 the fund has returned 29.8% annualized, net of all fees to investors. Mr. Singhi graduated with a B.S. in Economics from the Wharton School at the University of Pennsylvania, with concentrations in Finance and Management.

To read more about investing in India check out-Billions of Entrepreneurs: How China and India Are Reshaping Their Futures--and Yours.

The Emerging Indian Investing Landcape (Amitabh Singhi)


David Einhorn is the Chairman of Greenlight Capital (a value-oriented investment advisor), believes an investment approach emphasizing intrinsic value will achieve consistent absolute investment returns and safeguard capital regardless of market conditions. Prior to founding Greenlight, he was at SC Fundamental. Before that, he was at DLJ.

He is particularly famous for his short call on Lehman Brothers and Allied Capital shortly before their collapse.

Before Einhorn spoke Whitney Tilson stated that David Einhorn’s book Fooling Some of the People All of the Timeir?t=valueinves08c-20&l=as2&o=1&a=047007 (which details Einhorn’s short of Allied Capital), is one of the best books on investing he ever read.

Field of Schemes: If You Build It, They Won’t Come: David Einhorn


Francisco Garcia Paramès is the CIO of Bestinver Asset Management (€4.8 billion AUM). In 2009 Morningstar elected him as the Best European Manager in European Equities due to his historical returns (16.9% annualized in Spanish equities over the last 18 years and 9.7% annualized in global equities over the last 12 years) and the consistency of his investment philosophy. Mr. Paramès has an Economics degree from the Universidad Complutense and holds an MBA from IESE Business School (Barcelona-Spain).

GO EAST: VALUE INVESTING IN EUROPE


Zeke Ashton is the founder and Managing Partner of Centaur Capital Partners, a Dallas-based value-oriented investment firm, which serves as the advisor to the Centaur Value Fund. Mr. Ashton also manages the Tilson Dividend Fund, which is ranked five stars by Morningstar and was recently awarded a Lipper Leader award as the #1 performing fund in the equity income category for the trailing three year period ending December 31, 2009.

Zeke Ashton: NEGLECTED, HATED, & FEARED INVESTING IN OUT-OF-FAVOR INDUSTRIES


Whitney Tilson and Glenn Tongue were the final speakers of the Value Investing Congress. Whitney R. Tilson is the Founder and a Managing Partner of T2 Partners LLC, which manages three private investment partnerships and the Tilson Mutual Funds. He is Co-Editor-in-Chief of Value Investor Insight. Tilson has been a guest on Lou Dobbs Moneyline and Wall $treet Week, has been profiled by the Wall Street Journal and is a regular columnist for Kiplinger's. He is the Co-Founder and Chairman of the Value Investing Congress. He also is the author of More Mortgage Meltdownir?t=valueinves08c-20&l=as2&o=1&a=047050, and co-author of Poor Charlie's Almanackir?t=valueinves08c-20&l=as2&o=1&a=157864, the definitve book on Charlie Munger.

Whitney Tilson’s T2 fund has a net return of 203.7% since February 1999, versus 14.2% for the S&P 500.

tilson


Michael Lewitt is the author of The Death of Capitalir?t=valueinves08c-20&l=as2&o=1&a=047046 which discusses the causes of the financial crisis and why it will happen again. He is also the editor of The HCM Market Letter, which discusses finance and economic policy. He is the President of Harch Capital Management, LLC, a firm specializing in below-investment grade corporate debt and structured products based in Boca Raton, Florida. Lewitt manages over $1 billion in capital.

Opportunities Amidst the Continuing Crisis Michael E. Lewitt


Mohnish Pabrai, is Managing Partner of Pabrai Investment Funds, a group of focused value funds. Since inception in 1999 with $1 million, Pabrai Funds has grown to over $500 million in assets under management. Pabrai is the author of two books on value investing, Mosaicir?t=valueinves08c-20&l=as2&o=1&a=097479 and The Dhandho Investorir?t=valueinves08c-20&l=as2&o=1&a=047004.

Mohnish Pabrai’s talk centers on checklists for investing. Mohnish “highly, highly recommends reading Dr. Atul’s book, The Checklist Manifesto: How to Get Things Rightir?t=valueinves08c-20&l=as2&o=1&a=080509.”

Checklist 2.0: Analyzing Great Investor Mistakes to Reduce Your Own: Mohnish Pabrai


Guy Spier is the Manager of Aquamarine Fund, an investment partnership inspired by the original 1950’s Buffett partnerships. The fund’s market-beating returns have received mentions by Lipper and Nelson’s World’s Best Money Managers. Mr. Spier graduated from Brasenose College, Oxford and earned an MBA from Harvard Business School.


Value Investing for Mere Mortals Guy Spier


Alexander Roepers is the President of Atlantic Investment Management, Inc., which he founded in 1988, a $1.5 billion global equity hedge fund firm, with offices in New York and Tokyo. Mr. Roepers holds an MBA from Harvard University.

The Atlantic Approach: Clear Values Today Alexander Roepers


http://www.valuewalk.com/

http://twitter.com/#!/valuewalk

About the author:

Jacob Wolinsky
My investment ideas have been inspired by many of value investors including Benjamin Graham, Charles Royce, John Neff, Joel Greenblatt, Peter Lynch, Seth Klarman,Martin Whitman and Bruce Greenwald. .I live with my wife and daughter in Monsey, NY. I can be contacted jacobwolinsky(AT)gmail.com and my blog is www.valuewalk.com

Visit Jacob Wolinsky's Website


Rating: 4.6/5 (27 votes)

Comments

paulwitt
Paulwitt - 4 years ago
CORRECTION: Allied Capital did not collapse after Einhorn's call. It survived. Allied Capital was bought out by Ares Capital (ARCC) during the worst of the crisis.

yswolinsky
Yswolinsky - 4 years ago
I meant a collapse in their stock price, Lehman Brothers (a tleast part of them) was bought out by BarCap.
paulwitt
Paulwitt - 4 years ago
By the way Jacob, great job on the reporting from the Value Investing Congress!

*Sorry about Allied Capital, it's just that I was a shareholder for a couple of years....
yswolinsky
Yswolinsky - 4 years ago
It is fine, thank you for the compliments. Perhaps I should have been more clear in that sentence.
hpmst3
Hpmst3 - 4 years ago
Thanks for the great post!
dealraker
Dealraker - 4 years ago
Einhorn's presention on St. Joe is one of the more shocking things I've ever seen. When Bruce Berkowitz waded in on this one I became very interested in his reasoning and even without Einhorn's view I still am sort of unsettled by it. I've been in that area several times and I'll just say quite frankly that I would quickly put a value on the land at $1000 per acre. I am a licensed contractor and a licensed real estate broker.
yswolinsky
Yswolinsky - 4 years ago
I would be curious to know how much Berkowitz would price the land at.
superguru
Superguru - 4 years ago
"Many investors lose much or all of their intra-crisis gains during the succeeding crisis." - Lewitt.

This exact experience is what prompted me study investing and to become a value investor, hoping value investing will get me out of this cycle. But looking at how many value gurus got crushed in this crisis, I am not that optimistic anymore.

I would think the above statement by Lewitt applies to majority of retail investors.

Please leave your comment:


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