February 22, 2005

Inside This Issue


Defining “Normal”

Richard Pzena, Pzena Investment Management

In an in-depth interview, Rich Pzena describes his investment process, how he distinguishes between lethal and non-lethal company problems, why he sees value others are missing in Freddie Mac, Whirlpool and Hewlett-Packard, and much more. 

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Shooting the Gaps

Zeke Ashton, Centaur Capital Partners

Zeke Ashton and his Centaur Capital Partners’ colleague Matthew Richey share their thoughts on why value investors often underestimate business quality, where market perceptions are lagging reality – both long and short – and why they are particularly interested right now in Laboratory Corp. of America and Shimano. 

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Behind the Numbers: Costco

Low-margin and expensive, or perpetual growth machine trading at a discount?
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Uncovering Value: QQQQ

Puts “Like Miami hurricane insurance at Toronto prices.”
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Of Sound Mind

Should instinct play a key role in investment decisions?
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Editors’ Letter: Welcome to VII

Keep learning or other people will pass you by.
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Who's Behind VII?

John Heins, Co-Founder, Editor-in-Chief
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John Heins co-founded Value Investor Media, Inc. in 2004 and since then has served as its President and as the Editor-in-Chief of Value Investor Insight. In 2016 he took on an additional role as a Professor of Value Investing at the University of Alabama and is now the Director of the university's C.T. and Kelley Fitzpatrick Center for Value Investing.