June 26, 2019

Inside This Issue

Not-So-Sure Things

Graeme Forster, Orbis Investments

Orbis Investments’ Graeme Forster, Alexander Bowles and Michael Heap describe what they consider “bizarre” about today's global investing environment, why they focus so heavily on individual accountability, what they do differently when it comes to fees, and why they're seeing unrecognized value in BMW, Honda Motor, Autohome and Golar LNG.

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Continental Divide

Pieter Taselaar, Thijs Hovers, Lucerne Capital Management

Pieter Taselaar, Thijs Hovers and Jaap Pannevis of Lucerne Capital Management explain why they think European mid-caps are as inefficiently priced as ever, the "sense of urgency" they're trying to impart on portfolio companies, what they look for in shorts, and why they see upside today in Epiroc, Infrastrutture Wireless Italiane, TKH Group and Bawag.

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Uncovering Value: Signature Bank

Why is the market treating this historically standout banking performer as an also-ran?
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Uncovering Value: Par Technology

Betting that the company's long period of dysfunction is firmly in the rear-view mirror.
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Editor's Letter

Talking without knowing; Buffett and overdelivering; How the market is like an excitable dog.
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Who's Behind VII?

John Heins, Co-Founder, Editor-in-Chief
Project Image

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 the C.T. Fitzpatrick Professor of Value Investing at the University of Alabama.