July 28, 2006

Inside This Issue


Noise Reduction

William Nygren, Oakmark Funds

Bill Nygren of Chicago’s Oakmark Funds describes why he’s high on “fallen angels,” how he reads between the lines in company communications, why value investors can be schizophrenic when it comes to selling and what he thinks the market is missing in Washington Mutual, H&R Block, Limited Brands and Discovery Holding. 

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Kissing Frogs

David Nierenberg, D3 Family Funds

D3 Family Funds’ David Nierenberg, Cara Denver and Henry Hooper explain their unique approach to international investing, why they hold an average 9% stake in companies they own, why they avoid “cigar butts,” and why they think the market is mispricing Natus Medical, Superior Energy, Brooks Automation, Electro Scientific Industries and Yamana Gold. 

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Uncovering Value: Amex

Why Joel Greenblatt likes the virtuous cycle of its card business.
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A Fresh Look

With the shares off 53%, do they still have further to fall?
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Of Sound Mind: On Giving

Whitney Tilson on the obligations of financial good fortune.
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Editors’ Letter

Managing “the biggest risk public-equity owners face.”
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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.