Charles Brandes

Charles Brandes

Last Update: 08-11-2016

Number of Stocks: 190
Number of New Stocks: 26

Total Value: $6,546 Mil
Q/Q Turnover: 4%

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

Charles Brandes' s Profile & Performance

Profile

Charles Brandes is the chairman of Brandes Investment Partners. He started the firm in 1974. He manages multiple portfolios including US equity and Global Equity. Charles Brandes is listed as #488 in the Forbes List of World's Richest People with a net worth of $2 billion. He is author of the book Value Investing Today

Web Page:http://www.brandes.com/

Investing Philosophy

Charles Brandes is a Benjamin Graham disciple. Brandes consistently applies value investing to all portfolios managed by the Partnership. He seeks to purchase out-of-favor securities that are trading at discounts to their intrinsic values, and then hold them until the market recognizes their true worth.

Total Holding History

Performance of U. S. Value Equity

YearReturn (%)S&P500 (%)Excess Gain (%)
2015-4.341.19-5.5
201413.4513.69-0.2
201337.632.395.2
3-Year Cumulative49.3 (14.3%/year)52.3 (15.1%/year)-3 (-0.8%/year)
201218.54162.5
2011-1.042.11-3.1
5-Year Cumulative75.2 (11.9%/year)80.4 (12.5%/year)-5.2 (-0.6%/year)
201015.9515.060.9
20093526.468.5
2008-55.44-37-18.4
2007-15.265.49-20.8
200626.6715.7910.9
10-Year Cumulative31.2 (2.7%/year)102 (7.3%/year)-70.8 (-4.6%/year)
2005-4.594.91-9.5
200413.6110.882.7
200342.7828.6814.1
2002-22.08-22.10.0
200116.06-11.8927.9
15-Year Cumulative83.6 (4.1%/year)107.5 (5%/year)-23.9 (-0.9%/year)
200034.04-9.143.1
1999-12.4521.04-33.5
19981.6928.58-26.9
199732.9933.36-0.4
199629.4722.966.5
20-Year Cumulative277.2 (6.9%/year)381.4 (8.2%/year)-104.2 (-1.3%/year)
199520.9837.58-16.6
1994-3.541.32-4.9
19932410.0813.9
0000.0

Top Ranked Articles

Brandes Funds Comments on Embraer Guru stock highlight
For Embraer (NYSE:ERJ), which derives the majority of its sales outside Brazil, the real’s appreciation continued to present a headwind. The company has also been experiencing margin compression, mainly due to the mature state of its current product mix ahead of the launch of its second-generation models expected in 2018. We see the challenges facing Embraer as temporary in nature and we continue to believe the company represents an attractive investment opportunity. Read more...
Brandes Funds Comments on Nokia Guru stock highlight
Nokia (NYSE:NOK) has evolved quite significantly over the past few years, divesting several businesses while integrating and acquiring others in an effort to improve its scale and competitive positioning. Historically known as a mobile phone manufacturer, Nokia sold this business to Microsoft for $7.2 billion in 2013. The company also sold its HERE mapping business to a consortium of German carmakers for € 2.55 billion in 2015. Read more...
Brandes Funds Comments on Fuji Media Holdings Guru stock highlight
During the quarter, the Small-Cap Investment Committee initiated a position in Japanese Fuji Media Holdings (TSE:4676). Read more...
Brandes Funds Comments on Ericsson Guru stock highlight
The All-Cap Investment Committee initiated a position in Sweden-based Ericsson (NASDAQ:ERIC). The company is the global leader in wireless infrastructure, with 40% of the world’s mobile traffic running through its networks. Read more...
Brandes Funds Comments on Estacio Guru stock highlight
A bidding war for Estacio (BSP:ESTC3) erupted in early June after Kroton Educacional and Ser, two of Estacio’s peers, made non-binding merger offers for the company. In mid-June, Estacio’s chief executive officer resigned and was replaced on an interim basis by a member of the Zaher family. This development magnified the bidding war as there has been speculation that the Zaher family, which owns 14% of Estacio, is also considering a possible tender offer for 36%-61% of the company in order to acquire majority control. Read more...
» More Charles Brandes Articles

Commentaries and Stories

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Brandes Funds Comments on Ericsson Guru stock highlight
The All-Cap Investment Committee initiated a position in Sweden-based Ericsson (NASDAQ:ERIC). The company is the global leader in wireless infrastructure, with 40% of the world’s mobile traffic running through its networks. More...

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Brandes Funds Comments on Fuji Media Holdings Guru stock highlight
During the quarter, the Small-Cap Investment Committee initiated a position in Japanese Fuji Media Holdings (TSE:4676). More...

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Brandes Funds Comments on Nokia Guru stock highlight
Nokia (NYSE:NOK) has evolved quite significantly over the past few years, divesting several businesses while integrating and acquiring others in an effort to improve its scale and competitive positioning. Historically known as a mobile phone manufacturer, Nokia sold this business to Microsoft for $7.2 billion in 2013. The company also sold its HERE mapping business to a consortium of German carmakers for € 2.55 billion in 2015. More...

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Brandes Funds Comments on Embraer Guru stock highlight
For Embraer (NYSE:ERJ), which derives the majority of its sales outside Brazil, the real’s appreciation continued to present a headwind. The company has also been experiencing margin compression, mainly due to the mature state of its current product mix ahead of the launch of its second-generation models expected in 2018. We see the challenges facing Embraer as temporary in nature and we continue to believe the company represents an attractive investment opportunity. More...

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Brandes Global Equity Fund 2nd Quarter Commentary Review of markets and holdings Charles Brandes - Brandes Global Equity Fund 2nd Quarter Commentary
Market Overview More...

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Brandes Funds Comments on Kasikornbank Guru stock highlight
Established a year later in 1945, Kasikornbank (BKK:KBANK) is Thailand’s fourth-largest bank. The company provides a broad range of consumer, commercial and corporate banking services, including lending, deposit-taking, credit-card services, international-trade financing, custodian services, asset management, investment banking, life insurance and leasing. Moreover, Kasikornbank is the leader in Thailand’s small-/mid-enterprise lending market, which offers higher margins than retail and corporate lending segments. More...

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Brandes Funds Comments on Bangkok Bank Guru stock highlight
Founded in 1944, Bangkok Bank (BKK:BBL) is the largest commercial bank in Thailand with assets, loans, and deposits all commanding over 15% in market share. Bangkok Bank offers a universal banking platform with a full range of consumer, small-/mid-enterprise and corporate financial products and services. Additionally, the company boasts a strong franchise with nearly 1,200 domestic branches, 39 international branches and over 9,000 ATMs. More...

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Brandes Funds Comments on Companhia de Saneamento Basico do Estado de Sao Paulo Guru stock highlight
We’ve highlighted our investment in SABESP (NYSE:SBS) in past commentaries when economic fear in Brazil, coupled with a severe drought, brought the market valuation for the company down to what we considered attractive levels. However, there have been a number of incremental positives for SABESP over the past year, including: More...

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Brandes Funds Comments on Eletrobras Guru stock highlight
A long-time position in the Fund, Eletrobras (BSP:LIPR3) is a holding company that operates across the entire electricity value chain. The company is Brazil’s largest electricity provider, controlling 33% of the country’s generation capacity, mainly via hydro plants, and nearly 50% of the transmission grid. More...

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Brandes Funds Comments on Erste Group Bank Guru stock highlight
Also weighing on performance in the quarter was Erste GroupBank (WBO:EBS), an Austria-domiciled bank with a majority of assets in emerging Europe. European financial companies—Erste was no exception—were negatively impacted by the Brexit news due to increased fears of a euro break-up, prolonged macroeconomic uncertainty and more downward pressure on interest rates. Compared to other developing markets, emerging Central and Eastern European countries tend to have higher exposure to exports to the United Kingdom and the euro zone, as well as currencies that are more correlated to the euro. However, we believe Erste will be relatively resilient due to its strong capital adequacy and improving asset quality. More...

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Brandes Funds Comments on Embraer Guru stock highlight
For Embraer (NYSE:ERJ), which derives the majority of its sales outside Brazil, the real’s appreciation continued to present a headwind. The company has also been experiencing margin compression, mainly due to the mature state of its current product mix ahead of the launch of its next-generation models expected in 2018. We see the challenges facing Copa and Embraer as temporary in nature and we continue to believe they represent attractive investment opportunities. More...

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Brandes Funds Comments on Copa Guru stock highlight
After starting the year with strong performance buoyed by the currency strengthening of a number of Latin American countries in which it operates, Copa (NYSE:CPA) saw its shares decline due to downward revisions to its 2016 guidance on revenue per available seat mile (or RASM, normally used to measure an airline’s efficiency) and operating margins. More...

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Brandes Funds Comments on Lifestyle International Guru stock highlight
Lifestyle International (HKSE:01212) announced in April a proposal to spin off all of its businesses and investments in China as a separate entity in an effort to unlock hidden value. Lifestyle’s Hong Kong and Chinese assets have different growth paths, risk profiles and historical cash-flow generation properties. We generally view the spinoff as positive news as it may increase financial transparency, enable management teams to better focus on their respective businesses, and allow greater access to debt and equity markets. More...

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Brandes Funds Comments on Estacio Guru stock highlight
A bidding war for Estacio (BSP:ESTC3) erupted in early June after Kroton Educacional and Ser, two of Estacio’s peers, made non-binding merger offers for the company. In mid-June, Estacio’s chief executive officer resigned and was replaced on an interim basis by a member of the Zaher family. This development magnified the bidding war as there has been speculation that the Zaher family, which owns 14% of Estacio, is also considering a possible tender offer for 36%-61% of the company in order to acquire majority control. More...

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Brandes Emerging Markets Value Fund 2nd Quarter Commentary Discussion of markets and holdings Charles Brandes - Brandes Emerging Markets Value Fund 2nd Quarter Commentary
Market Overview More...

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Charles Brandes Continues to Buy Avon, Higher One Holdings Guru adds to several holdings for 2nd consecutive quarter Charles Brandes - Charles Brandes Continues To Buy Avon, Higher One Holdings
Charles Brandes (Trades, Portfolio) is the chairman of Brandes Investment Partners, the firm he started in 1974. In both fourth quarter 2015 and first quarter 2016, the guru bought shares in the following stocks: More...

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Brandes Investments Comments on Chesapeake Guru stock highlight
The uncertainty with Chesapeake (NYSE:CHK) is (and has been) the natural gas price. We believe that supply and demand warrant a much higher price than the current sub-$2 per mmBtu level (currently even lower in Pennsylvania where Chesapeake has a significant percentage of its acreage), likely in the $4-$6 range in the medium to long term. At the current natural gas price, producers are cutting capex significantly, which could ultimately impact the supply of natural gas. The path of natural gas prices is uncertain with a lag between capex cuts and changes to production levels. At higher long-term price levels we believe that Chesapeake’s enterprise value would be substantially more than what was valued by the market. More...

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Brandes Investments Comments on Total Guru stock highlight
We purchased France-based Total (NYSE:TOT), a vertically integrated oil company operating at all levels within the oil & gas industry, including exploration & production as well as refining & marketing. We had owned Total in the past and sold it in 2014 after the company had several positive developments. However, over the past year the stock declined significantly with the fall in oil prices and has traded near book value. We believe the company has positive attributes, including: More...

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Brandes Investments Comments on Express Scripts Guru stock highlight
Express Scripts (NASDAQ:ESRX) declined 20% during the quarter due to a dispute with its largest client, health insurer Anthem (which accounts for 15%-20% of Express Scripts’ sales), as Anthem believes that Express Scripts needs to pass on larger drug cost savings to its customers. Under the existing contract, Anthem is entitled to a good-faith repricing of the contract terms, the deadline for which was December 15, 2015. As the deadline has passed and Express Scripts still has not provided Anthem with an offer that Anthem deems acceptable, Anthem has recently decided to take legal action against Express Scripts. Express Scripts’ CEO stated the company intends to resolve the dispute and keep Anthem as a customer. More...

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Brandes Investments Comments on Credit Suisse Guru stock highlight
Credit Suisse (NYSE:CS) declined over 30% during the quarter as the market remained concerned about the company’s restructuring/turnaround and the possible negative effect on financial results over the next year. Nonetheless, we continue to believe Credit Suisse has an economically attractive business model and is significantly discounted at its current valuation of 0.7x tangible book value. Accordingly, we increased our allocation during the quarter. More...

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