Topic Archives: Value Investing Congress

The Value Investing Congress is a two-day conference featuring fairly lengthy, insightful presentations into interesting value investment ideas or bigger picture strategies from some of the most successful hedge fund managers and other value investing “thinkers”. I try to attend every year, and I’m extra delighted that the press and the large corps of bloggers […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. Guy Gottfried has suggested a lot of small cap Canadian stocks, some of which have done phenomenally — so what does he suggest this time? Holloway Lodging (HLC.TO, HLLOF)– […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. Michael Kao’s presentation is titled “Multiple ZONES of Optionality” — which sounds conceptually a little bit similar to his “asymmetric investing” pitch from the Spring Congress in Las Vegas. […]

Here are my notes from the presentations on the second day at the Value Investing Congress: Eric Sprott, “Investing Opportunity of Your Lifetime” (Gold market manipulation) Isaac Schwartz, “Hidden in Plain Sight” (Kazakh banks and Russian flooring) David Hurwitz, “Opportunities for Investment in Korea” Michael Kao, Akanthos “The TAO of Asymmetric Investing” (Tag Oil) Petra […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. Arnaud Ajdler runs a new special situations hedge fund called Engine Capital (he’s been at Crescendo for a decade and is an experienced activist investor, but moved to start […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. Dan Ferris, who we have covered many times, is presenting about Altius Minerals (ALS.TO, ATUSF), which he has covered for years and we’ve written about many times (it’s also […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. Petra presented on South Korean stocks last year in Las Vegas as well, so it’s likely that these stocks are also ones that individual investors have trouble buying. They’re […]

Should be an interesting day for us here at the Value Investing Congres — one “secret” presenter later in the afternoon, a presentation from Dan Miller at Gabelli who has picked a few great small cap growers in past years, more from Whitney Tilson, a presentation from newsletter guy Chris Mayer, and a presentation from […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. Richard Lashley at PL Capital has been involved in proxy contests and shareholder activism with small banks around the country for about 18 years. Chris Mayer talked about him […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. Lisa Rapuano presented about the importance of personality and temperament in managing your own investment portfolio. A common trait among successful investors is adherence to a process. I took […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. David Neuhauser from Livermore Partners planned his presentation primarily about Pacific Rubiales Energy (PRE.TO, PEGFF), but since he started investing in it in the first quarter it released good […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. Carlo Cannell has presented at past Congresses, though I don’t know if I’ve written about him before. He argued that boring and mundane industries are the way to go… […]

These are my notes and instant reactions from a presentation at the Value Investing Congress, the notes below might contain errors, paraphrases, incorrect quotes, or misinterpretations. Tim Eriksen of Eriksen Capital Management also presented at the Value Investing Congress a year ago, and his idea (Internet Bancorp, INBK) seemed pretty interesting at the time. It […]

Good morning, Gumshoe friends! The Value Investing Congress in Las Vegas starts tomorrow, but I decided to also attend the pre-conference workshop so I’ll be tied up most of the day in those more in-depth presentations and won’t likely be sharing my notes as we go like I try to do with the regular conference […]

Mick Mcguire’s title is “Don’t buy this Recovery,” but he started out by profiling a company that is a pure play on North American construction — but it’s commercial and industrial construction, not residential. There has not yet been much recovery in commercial construction, but he thinks it’s about to begin. His pick is United […]

Starboard Value is a company that looks for activist investment opportunities where there’s a clear path to potential success. Either they’re successful in working with management, or they try to go over management’s head and try to replace board members and management defends themselves by doing the right things to create value. They are the […]

Dan Miller works for GAMCO investors and the Gabelli funds, he manages 35 industry analysts. His talk is called “Investing with Conviction”, and he’s working with the Gabelli concept of “private market value” — they call it “PMV with a Catalyst” and he published a quarterly list of the “Focus Five” — the five most […]

David Shapiro and Evan Vanderveer presented for their Vanshap Capital, which is very small but has received seed funding from Markel (MKL). EGI Financial (EFH.TO, EGFHF pink sheets) is a small company in Missisauga, in property and casualty insurance in four segments — primarily non-standard auto insurance under the name Echelon General, but they also […]

Chris Mayer may be the presenter at the Value Investing Congress who is most familiar to Gumshoe readers, being as he edits a couple of newsletters for Agora Finance and we’ve revealed a few teaser picks of his over the years. He tends to be a pretty sober and value-focused guy, despite the wackiness of […]

Donald Yacktman is a legendary value investor who runs two excellent mutual funds, Yacktman Fund and Yacktman Focused Fund. They’re one of the many funds affiliated with Affiliated Managers Group (AMG). What is unique about him? He thinks about 70% of investors (or maybe 95%) are rear-looking and momentum-driven investors. He thinks that you have […]

Chris Mittleman runs private money for Mittleman Brothers, and he presented at the last Value Investing Congress as well — he said he hopes to buy stocks that are great companies that have gotten cheap for temporary reasons. The ideas last time were Carmike Cinemas and Revlon, both of which have done quite well since. […]

Mark Boyar is a well-respected longtime value investor, he publishes a research-intensive newsletter and has an excellent record over many decades. He first mentioned the stocks that he talked about last time he presented, at the Las Vegas iteration of this Congress back in May (we covered that here) — he did well with Dole […]

Blue Harbour advocates a “private equity approach to the public markets”, focusing on backing the right management teams and “thinking like an owner.” He advocates collaborative work with companies and boards (they’re not doing proxies or fighting, they’re looking for people who want help) — this has improved because directors are now much more aware, […]

Alex Roepers speaks at most of the Value Investing Congress events, and he has often shared excellent ideas of (mostly) larger industrial stocks which can benefit from what he calls “constructive shareholder activism” … he’s planning to share five new investment ideas, but started with “insights from 25 years.” He is a concentrated investor, typically […]

John Mirshekari is a fund manager at Fidelity, specializing in industrial stocks, and he’s talking about capital allocation and incentives. He started by talking about a mistake — Pinnacle Airlines, which was written up as a value stock dozens of times … the CEO had little incentive to help investors. He thinks that capital allocation […]

Michael Castor is a healthcare hedge fund guy, and he talked about accounting He started out by sharing a couple names that he’s interested in — he thinks there is attractive valuation at Cardinal Health (CAH) and Select Medical (SEM) And he says there is a compelling value in Aratana (PETX), a pet medicine company. […]

Guy Gottfried has a nice, albeit short, record of choosing excellent little Canadian value stocks that have risen in value pretty substantially over the year or so following his presentation. Of course, that doesn’t mean his pick this year will jump right up — but he’s presenting before the market opens, and the 500 or […]

Zeke Ashton runs Centaur Capital Partners and does long/short and he’s also a manager of Tilson Dividend (TILDX), which uses covered calls. I’ll flip his presentation and start with his investment idea, which is title insurance — but he also did a good presentation about investment mistakes so I’ll share those notes on as well. […]

Phillip Goldstein of Bulldog Investors talked this afternoon about his experience with Imperial Holdings (IFT), which is in the life settlements business. The business is and was pretty compelling — lending money to wealthy senior citizens against their life insurance — even as it’s been very controversial. Bulldog invested in them by buying debt with […]

Zack Buckley, who last year talked up a short in the tech space, today argued that there’s a small tech company that’s very undervalued. The company used to be called InfoSpace and (since investors hated Infospace), it’s been renamed Blucora (BCOR) and owns two businesses, the old search distributor Infospace and their recently acquired third-place […]

Just had an interesting presentation from Mick McGuire of Marcato Capital Management, he called out three different companies who have good operating businesses but also understated values that are hidden by their balance sheets … in this case because they are carrying real estate at purchase prices. The three are Alexander and Baldwin (ALEX), Gencorp […]

I’m tempted to buy some puts in Splunk (SPLK) following the presentation by Zack Buckley late this morning — he brought the shares down by 5%, but his brief look at the business model and the growth prospects, and the accelerated revenue recognition that makes the business look better than it is, point to some […]

A quick note for you during the lunch break for today’s congress: I heard some very good presentations backed up by stupendously thorough analysis this morning, including a great presentation by Kyle Bass on Japan’s debt and the debt of other heavily leveraged countries, and an argument from Michael Kao that the convertible bonds of […]

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    Hi Travis, where to send teaser requests these days? I don't see an obvious e-mail contact on the site. Can you look int...

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    Hi can anyone tell what Casey research is tonting about the comming thired industrial power shift...

  • Travis Johnson, Stock Gumshoe

    That's a teaser pitch that has been around for a few months, the "device" is just the lithium ion battery -- haven't wri...

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