October 31, 2026

Inside This Issue


Protecting the Castle

Pat Dorsey, Dorsey Asset Management

Pat Dorsey of Dorsey Asset Management explains how he assesses a company’s competitive moat, why he thinks business-quality-first investors have hit a rough patch, why he’s relying more on qualitative evidence in making decisions, and what he thinks the market is missing today in Veeva Systems, Tyler Technologies, Meta Platforms and Royalty Pharma.

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Before the Dawn

Brian Barish, Cambiar Investors

Cambiar Investors’ Brian Barish and Rich Carney describe why investing based on mean reversion is getting harder, how "noise" in areas like healthcare and consumer products is creating opportunity, the lessons they learned from the Internet bubble, and why they believe Medtronic, Elevance Health, Constellation Brands and Expand Energy are mispriced.

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Strategy: Compounders

AI is upending revered business models. Here's how one quality-first investor is responding.
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Uncovering Value: Grupo GPS

Is this a proverbial baby thrown out with the bathwater because of changing political winds?
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A Fresh Look: Nu Holdings

Envisioning the day when the share performance better reflects how well the business is doing.
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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.