April 30, 2026

Inside This Issue


Value First

Richard Oldfield, Sam Ziff, Oldfield Partners

Richard Oldfield and Sam Ziff of U.K.-based Oldfield Partners describe the virtue they still see in low absolute valuations, why they’re comfortable with non-binary potential outcomes, what they learned from investing in a Russian oil company, and why they see unrecognized value today in Swatch, Merck KGaA, ArcelorMittal and RIT Capital Partners.

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Trouble Is Opportunity

Amit Wadhwaney, Moerus Capital

Moerus Capital's Amit Wadhwaney and Michael Campagna explain why they often run toward proverbial fires, what's interesting to them in long-time area of interest metals and mining, why they take an asset-based valuation approach, and what they think the market is missing today in Natura, Arcos Dorados, Cromwell Property and Hammerson Plc.

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Uncovering Value: Carlisle

A potential candidate fitting the "HALO" profile value investors have been talking about?
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A Fresh Look: Nike

Assessing how temporary the rough patch might be in the company's turnaround journey.
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A Fresh Look: Hyster-Yale

"The stock doesn't know or care that I've owned it for a while and that I'm disgusted."
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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.