“Value” has a number of different components all tied at the hip. Internally, we simplify by mentally handicapping companies as either “Buffets or Grahams” based
There aren’t that many times in an investor’s career when the environment changes so much in a few weeks. The following interview on the ValueWalk’s
Our favorite new acronym (within an industry that has far too many) is “TINA”. TINA is not the name of a person or object. It
It’s nice to know we’re not alone…although it feels that way sometimes. Source: AYI Q1 2020 10-Q Looks like there were some other shareholders who
We really wanted to like what we read in the recently-released proxy statement for Acuity Brands (AYI). In response to an awful say-on-pay result from
Under the heading of things that just can’t last, today’s topic is venture capital firms continuing to invest in technology companies that consistently lose an
It may surprise you to hear that we sincerely believe there are aspects of the investment management industry that are truly unique. Before you start
Meb Faber is a SoCal-based investor I have known for a number of years. Meb is the CIO of a quant firm called Cambria Investments.
…show him or her the following chart, courtesy of Goldman Sachs (with a hat tip to the Wall Street Journal): For those of you who
I certainly have no interest in trying to call the top of any market cycle. No one has the ability to do that consistently. And
Continuing on the corporate governance theme, we are posting this oldie but goodie. A couple of years ago, I was interviewed by The Manual of
ESG investing is all the rage today. For any of you not familiar with ESG, it has become synonymous for socially responsible and sustainable investing.
I have known Toby Carlisle for close to 10 years now. Toby is a deep value investor who runs a firm called Acquirers Funds. At
Patience is not a virtue that is developed easily, especially if your primary job is to assemble portfolios of publicly traded equities. The amount of
Click here for Ben Claremon’s presentation on Axalta. This report is published for information purposes only. You should not consider the information a recommendation to
By: Ben Claremon | Principal & Portfolio Manager We are often evaluated by our current (and potential) partners based on our most glaring successes and
A friend of mine, Richard Lewis, runs a very interesting blog called Latticework Investing. Richard is a huge Charlie Munger fan and provides a great
by Ben Claremon, Principal and Research Analyst Before you start rolling your eyes, this is not what you might think it is. Sorry, you aren’t
by Ben Claremon | Principal, Research Analyst After taking a year off from partaking in the annual trek to Omaha, I returned to the home
by Ben Claremon | Research Analyst As of the huge currency moves the world has witnessed over the last year or so, the topic of
by Ben Claremon | Research Analyst As long-term-focused investors, we have a certain disdain for the quarterly earnings rigmarole and the associated maniacal focus on
by Jeffrey Bronchick and Ben Claremon We have been thinking about this issue for a few weeks, tempering our urge to dash out some heated
by Ben Claremon | Research Analyst BERKSHIRE This past weekend’s trek to Omaha for the Berkshire Hathaway annual meeting represented the fifth consecutive time I
by Ben Claremon | Research Analyst Under normal circumstances, the prospect of leaving sunny Southern California to travel to a place where the day-time temperature
A few weeks ago, Cove Street was asked to present a small cap stock idea for the 2013 Small-Cap Investing Summit. Our analyst Ben Claremon
Dear Value Investors, This was my fourth trip to the so-called Woodstock for Value Investors and my latest attempt to capture the majority of the
This report is published for information purposes only. You should not consider the information a recommendation to buy or sell any particular security, and this
by Ben Claremon | Research Analyst It was less than two years ago that I was sitting with some of my UCLA Anderson classmates, desperately
by Ben Claremon | Research Analyst Welcome to earnings season and the barrage of company press releases and conference calls. Securities analysts all over the
by Ben Claremon | Research Analyst All European banks are insolvent! Germany is going to leave the Euro! The US is going to default on
