Charles de Vaulx: Opportunities for Global Value InvestingVW Staff
Charles de Vaulx, International Value Advisers is speaking now on ‘Opportunities for a Global Value Investor in Today’s Low Return World’ live at the 9th Annual Value Investing Congress.
Charles de Vaulx joined International Value Advisers, LLC (IVA) in May 2008 as a partner and PM, and currently serves as CIO, partner, and PM. Until March 2007, Charles was PM of the First Eagle Global, Overseas, U.S. Value, Gold and Variable Funds. He also managed several separately managed institutional accounts at First Eagle. Charles’ Sofire Fund Ltd. won an Absolute Return Award for “Fund of the Year” in the global equity category in 2005 and 2006. Check our a great recent interview Charles De Vaulx conducted with Steve Forbes here.
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Charles de Vaulx live coverage
(1:38pm EST) Talking aabout what types of companies they like and look for
Owner Operated, Eat our own cooking, Mindful of capacity
Value investing has become truly global
The big picture (macro) does matter, even for value investors
At times, bonds can be equitys in disguise
individual stock picking still make a big difference
some gold can play a role in a portfolio (different than gold mining stocks)
We have NEVER been as cautious as we are today!!!
US Outlook: Slow recovery, most stocks are fully priced
Europe Outlook: Weak economic growth, future of Eurozone remains very uncertain, Bifurcated equity markets
Japan Outlook: Beyond “Abenomics,” the real game changer may be the improvement in capital allocation by Japanese corporations, Stock picking remains very potent
Emerging Market Outlook: China remains a big worry and a big question mark, Poor corporate governance is still an issue
Gold Outlook: A hedge against extreme outcomes, IVA portfolio only 55% invested in equities, and gold is no longer as cheap as before, they have reduced their allocation to gold
Stock Idea: Millennium & Copthorne Hotel (LON:MLC) –Singapore based hotel company, with hotels around the world
ValueWalk readers can get a 53% discount on the Value Investing Congress in Vegas (April 3rd and 4th), just use this link to register.
Use code ‘WALK’ to save an extra $100.