Truth or Consequences


International Value Advisers’ Charles de Vaulx, Charles de Lardemelle, Simon Fenwick and Michael Malafronte explain why they focus on worst-case scenarios, how they define “good” and “bad” cyclicals, the key lessons learned from Jean- Marie Eveillard, and why they believe International Speedway, Cintas, Fresnillo and Temp Holdings are mispriced. 

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