Value Investing Congress — Day One

Special Value Investing Congress Notes for the Irregulars


Well, it’s been a busy, busy first day of the Value Investing Congress — they reorganized the event this year to include more presentations, which means I have more notes to share with you.

Much of the time I posted these thoughts in real time, and the more in-depth consideration of any stocks that look appealing to me will be coming later as I have time to get more information and sleep on these ideas — since pretty much all of them, of course, look pretty good the first time you see them presented. These notes might lack some grammatical perfection and may include mistakes, as I’m writing them on the fly. If I notice errors I’ll go back and fix them later, but do keep in mind that these are notes and reactions to live presentations — I’m simply doing my best to share what I think are key points about some interesting ideas.

I always come up with at least one interesting “Idea of the Month” piece from these Conferences, so I’ll also over the next week or two narrow these ideas down to that one favorite (or maybe a couple favorites, we’ll see). And I may well write more about these in the days and weeks to come if they survive the winnowing process in my head.

I’ve got notes and comments to share now on eleven different presentations, from analysts and investment managers who are in every case, I’m quite sure, better investors than I am — the stocks that are most initially appealing to me after hearing these presentations are the first and last ones — Rosetta Stone from David Nierenberg, and Atlas Financial Holdings from Chris Mayer … but that’s just my initial reaction after a long and dense day of presentations so my opinion may well change after more time and analysis.

I’ve put the notes on each presentation as a separate posting here on the site, to avoid confusion as much as possible, you can find them all by following the links below (you’ll need to be logged in as an Irregular to read these — login is a the top right of this page):

Nierenberg D3 Funds — Rosetta Stone

Tim Eriksen — First Internet Bancorp

Marcelo Lima — Hargreaves Services

Steven Romick (FPA Crescent) — Big and Undervalued Ideas

Iraq and the “Pepsi Challenge” — Not Really Buy-Able, but worth some more research

Zack Buckley — Blucora as a Tech Value

Creating Value when the FBI Raids Your Office — Bulldog Investors

Investing Value in Kazakhstan — Halyk Savings Bank

“The Elephant is Moving” Investments in India

Investing In Single Family Homes — Jeff Pintar

Chris Mayer’s Owner Operators — First Citizens (FCNCA) and Atlas Financial Holdings (AFH)

So that’s a wrap on day one — day two of the Congress will bring presentations from Guy Gottfried, whose ideas I often like, Mark Boyar, who has an incredible value investing track record, Mongolia Growth Group’s CEO Harris Kupperman, and several others who should have some great insight to share with us. I’ll be posting through the day again tomorrow, and you can always see all of the notes from the Value Investing Congress in chronological order (most recent at the top) here.

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3 Comments on "Value Investing Congress — Day One"

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yikesnotagain
Irregular
0
yikesnotagain
May 7, 2013 12:29 am

Hello Travis
You mention the one fellow really likes farmland – how do I (in Canada) invest in farmland? Other than buying a section of course! If I had cash for that I would be all over it!
Agrium has lost its lustre, POT likewise. But that is fertilizers and farm supply anyway.

Thanks Travis.

alainbm
Member
1
alainbm
May 7, 2013 4:35 pm
You might want to check out Sprott Resource Corp. which trades on the TSX ticker SCP. They have a private investment in One Earth Farms Corp. which have huge land holdings in Western Canada. Their web site is http://www.oneearthfarms.com/ It’s not a pure Ag play as they invest Energy and precious metals the last being a bit of a drag recently on the share price. Keep in mind you will be paying 2 and 20 for the privilege of Sprout asset managing the fund that said the fund has done well over the years. You can check them out here… Read more »
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