Presentations from leading value investors enhance the value investing skills that are taught in both the Ivey’s Value Investing program as well as the Value Investing and the Search for Value Seminars. Our speaker series allow students the opportunity to see value investors in action.
Practitioners’ involvement in the program is organized in two parts: First, practitioners present their basic approach to value investing and discuss their style; second, they take students through actual investment decisions. This includes decisions to purchase securities, and how large a position to take, or decisions not to purchase securities. Time is allowed at the end for open-ended student questions.
This page also features presentations from the keynote speakers at the Centre's Value Investing Conferences that cover broad areas of interest to the value investing community and to our students.
Upcoming Guest Speakers
Vice President, Head of People and Talent, Burgundy Asset Management Ltd., Toronto, ON, Canada (January 30, 2025 - Ivey Value Investing Class)
Ms. Ross has over 20 years of experience in the Financial Services industry. She joined Burgundy in 2006, and in 2013 she was appointed Operations Manager, Investments, where she supported the Investment Analyst team. In 2016, she transitioned to the role of Manager of Recruitment and Development, where she worked to design and deploy recruitment strategies to attract and retain exceptional people. In her current role as Head of People and Talent, Robyn applies these skills to cultivate a working environment that sets Burgundy’s people up for success and generates an outstanding employee experience. Before joining Burgundy, Robyn spent four years at Lines Overseas Management and two years at Lehman Brothers, London in the role of Executive Assistant. Robyn received her Canadian Securities Course certification in 2002. She is a member of GEM (Girls E-Mentorship) Scholarship Committee. Co-Chair, Portfolio Management Association of Canada HR Committee.
For more on Burgundy Asset Management Ltd., see www.burgundyasset.com
Vice President, Deputy Portfolio Manager, Director of Research, Burgundy Asset Management Ltd., Toronto, ON, Canada (January 30, 2025 - Ivey Value Investing Class)
Mr. Elkins joined Burgundy in September 2013 as an Investment Analyst focusing on U.S. equities. In September 2017, he transitioned to his current role as an Investment Analyst focusing on European equities. He was appointed a Vice President of the firm in July 2019. In September 2023, he was appointed Director of Research at Burgundy. In July 2024, Michael was appointed Deputy Portfolio Manager of European equities. Before joining Burgundy, he spent eight years with TD Securities Inc., most recently as an Equity Research Analyst. Prior to TD Securities, Michael worked with PricewaterhouseCoopers Corporate Finance Inc. as a Senior Associate. He began his career as a Senior Accountant with Ernst & Young LLP. Michael earned an Honours Bachelor of Business Administration degree from Wilfrid Laurier University in 2001. He qualified as a Chartered Accountant in 2004 and was awarded the Chartered Financial Analyst designation in 2007.
For more on Burgundy Asset Management Ltd., see www.burgundyasset.com
Senior Partner, Chief Investment Officer, Palisade Capital Management, Fort Lee, New Jersey, USA (February 27, 2025 - Ivey Value Investing Class)
Mr. Veru is a Senior Partner and serves as Palisade Capital Management’s Chief Investment Officer. He is also Chairman of the firm's Investment and ESG Committees and a member of our Operating Committee. In this capacity, he has oversight responsibilities for all of Palisade’s investment strategies that trade publicly traded securities. Dan became associated with Palisade’s founders in 1984 at Drexel Burnham Lambert and later at Smith Barney, where he held a variety of analytical positions. From 1992 through 1999, he was President and Director of Research at Awad Asset Management, a division of Raymond James & Associates. Dan rejoined his colleagues at Palisade in 2000 and was later promoted to Chief Investment Officer. A graduate of Franklin & Marshall College, Dan has appeared as a guest on CNBC, Bloomberg News, and Fox News. He also contributes market opinions to various financial publications.
For more information on Palisade Capital Management, see Palisade Capital | Fundamentally Different
Executive Director, Gabelli Center for Global Security Analysis, New York, NY, USA (March 13, 2025 - Ivey Value Investing Class)
Mr. Johnson runs Nicusa Investment Advisors, an advisory firm focused on helping CEOs and Boards of Directors deal with operational and financial strategy, management execution, shareholder value creation, and corporate communications. He was also the founding partner and investment manager of Nicusa Capital Partners, a private investment partnership that he started in 2003 and ran until December 2012. He has invested in virtually all sectors of the economy and participated in more than 100 venture capital investments and investment banking transactions in his career. He is also an Adjunct Professor at the Gabelli School of Business, Fordham University since 2015. He teaches Value Investing and is a Fellow to the Gabelli Center for Global Security Analysis at Fordham University. He is also is on the faculty of the Heilbrunn Center for Graham & Dodd Investing and has been an integral part of the Columbia Business School Value Investing Program for over 30 years. As an Adjunct Professor at CBS, he has taught 58 semester-long courses on securities analysis and value investing to more than 3,500 full-time and executive MBA students.
For more on the Gabelli Center for Global Security Analysis at Fordham University, see https://www.fordhamgabellicenter.org/
Chairman and Chief Executive Officer, Fairfax Financial Holdings Ltd., Toronto, ON, Canada (April 10, 2025 - Fairfax Annual Meeting of Shareholders)
Mr. Watsa, Chairman and CEO, Fairfax Financial Holdings Ltd. has invited Dr. Athanassakos and a group of his Value Investing MBA and HBA students to attend the Fairfax annual meeting of shareholders on April 10, 2025 at 9:30 a.m. in Toronto, Ontario, Canada. After the annual meeting, students will have an opportunity to meet Mr. Watsa and his team. Mr. Watsa is the Chairman and Chief Executive Officer of Fairfax Financial Holdings Ltd., a financial services holding company, which he took over in 1985. The company, through its subsidiaries, is engaged in property and casualty insurance and reinsurance, as well as investment management. Mr. Watsa is a Chartered Financial Analyst, a graduate of the prestigious Indian Institute of Technology with a degree in Chemical Engineering and a holder of an MBA from the Richard Ivey School of Business of the University of Western Ontario. He is a member of the Board of Trustees of the Hospital for Sick Children, a member of the Advisory Board for the Richard Ivey School of Business and a member of the Board of Directors of the Royal Ontario Museum Foundation, as well as Chairman of the Investment Committee of St. Paul’s Anglican Church. Fairfax has been one of the few companies to escape the ravages of the great recession of 2008 as Mr. Watsa and his team had anticipated the credit crisis and had taken the necessary steps to protect Fairfax. Mr. Watsa, also known as the Buffett of the North, had discussed his fears about the markets in a key note speech he gave to The Ben Graham Center of Value Investing First Annual Symposium on Value Investing on May 25, 2007. His key note speech can be viewed here.
For more on Fairfax Financial Holdings Ltd., see www.fairfax.ca
Past Guest Speakers
Chairman and Chief Executive Officer, Burgundy Asset Management Ltd., Toronto, ON, Canada
Mr. Arrell started his career in 1969 as an investment analyst at Pitfield, Mackay, Ross. In 1977 Tony joined Gardiner Watson Limited where he helped to develop the research department’s respected value-oriented research. In 1979 he was appointed President and CEO of Gardiner Watson. Tony subsequently joined Wood Gundy as Director of Research, later becoming Head of Wood Gundy’s equity division. In 1988, following the sale of Wood Gundy to CIBC, he became Chairman and CEO of Walwyn Inc. In late 1992, Tony joined Burgundy Asset Management Ltd. as Chairman and C.E.O. Today, Burgundy manages $9 billion for families, institutions and charitable foundations following a value philosophy and seeking undervalued opportunities in various countries. Tony is a Director of Gardiner Group Capital and Garbell Holdings. He is on the Advisory Board of the Schulich School of Business. He is on the Board of the Canadian Opera Company, and was on the capital campaign executive for the new Four Seasons Centre for the Performing Arts – a $200 million project. He is also a Director on the Board of St. Michael’s Hospital; Chairman of the Board of St. Michael’s Hospital Foundation, and Chairman of the St. Michael’s Hospital Pension Committee. Tony has also been active for many years with the Canadian Cystic Fibrosis Foundation. In 1998, Tony received the York University Award for Outstanding Executive Leadership, and in 2003 he was awarded the Lincoln Alexander Medal of Distinguished Service by The University of Guelph. In 2006, he received the Award of Merit from the St. George’s Society of Toronto for his work in philanthropy and in October 2008 York University granted Tony an Honorary Doctor of Laws degree. Tony has a Bachelor of Science degree from the University of Guelph and an MBA from York University.
Past Presentations
Ivey Value Investing Classes (2012)
PowerPoint Presentation
Watch Video
President and Portfolio Manager, Lionridge Capital Management Inc., Winnipeg, MB, Canada
Mr. Bains has been a dedicated practitioner of value investing for over 20 years. Prior to founding Lionridge he held the position of Vice-President, U.S. Equities with a major Canadian mutual fund company. Mr. Bains has been a finance professional since 1994, initially working in the areas of corporate finance and merchant banking. He also has previous experience as a corporate lawyer. He earned an undergraduate degree in economics and a law degree from the University of Manitoba, and an MBA from the Ivey School of Business at the University of Western Ontario. Mr. Bains has also held the designation of Chartered Financial Analyst since 1999. He serves as a Governor of St. John’s Ravenscourt School, where he also chairs its pension committee, and is a member of the Board of the Associates of the Asper School of Business.
For more on Lionridge Capital Management Inc., www.lionridgecapital.com
Past Presentations
Ivey Value Investing Classes (2021)
PowerPoint Presentation
Watch Video
President and CEO, PenderFund Capital Management Ltd., Vancouver, BC, Canada
Mr. Barr is the President and CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds: the Pender Small Cap Opportunities Fund, launched in June 2009 (now closed); the Pender Value Fund, launched in July 2013; and the Pender Select Ideas Fund, launched in September 2014. In November 2015, the Pender Small Cap Opportunities Fund won a Lipper Fund Award 2015 for Best Canadian Small/Mid Cap Equity Fund over both three and five year performance periods. In November 2016, the Fund once again won a Lipper Award, for Best Canadian Focused Small/Mid Cap Equity Fund over both three and five year periods. David has over 15 years of investment experience. He initially worked in private equity which gives him a unique background to investing capital. At the end of 2007 he became a partner at PenderFund Capital Management Ltd. and was appointed Chief Investment Officer with the objective of launching Pender’s mutual fund business. In April 2016, David was appointed President and CEO of Pender upon the retirement of Kelly Edmison. Mr. Barr holds a Bachelor of Science degree from the University of British Columbia and an MBA from the Schulich School of Business. He earned his Chartered Financial Analyst (CFA) designation in 2003 and is an active member of the Vancouver chapter. He is a past President of CFA Vancouver, having also served on its Board of Directors for four years. David is a regular guest on BNN’s Business Day program and has been interviewed for his opinions on small cap, the technology sector and value investing by the Financial Post, The Globe & Mail and other media. In December 2012, David was recognized as one of British Columbia’s “Top Forty Under 40” business leaders by Business in Vancouver.
Past Presentations
Ivey Value Investing Classes (2023)
PowerPoint Presentation
Watch Video
Seminar on Value Investing and the Search for Value (2018)
PowerPoint Presentation
Watch Video
Co-Founder & Managing Partner, 3G Capital Management LLC., Toronto, ON, Canada
Mr. Begun, CFA has over seventeen years of experience in valuation-based investing. Prior to co-founding 3G Capital in 2004 he worked as a research analyst for Fiduciary Asset Management and also for A.G. Edwards & Sons where he was responsible for equity research across multiple sectors. From 2010 through 2017 Mr. Begun sat on the Board of Directors of AlarmForce Industries, a leading Canadian residential alarm monitoring company, whose shares are traded on the Toronto Stock Exchange. From 2012 through 2017 Mr. Begun was a Non-Executive Director at Grafenia PLC, a UK-based provider of software and systems for the graphic arts industry, whose shares are traded on the London Stock Exchange. Mr. Begun graduated with Honors from the University of Chicago with an M.B.A. in Accounting and Finance and he also graduated valedictorian from Western Kentucky University with a B.S. in Finance. He is a Chartered Financial Analyst and a member of the Toronto Society of Financial Analysts. Mr. Begun has been a guest speaker at a number of universities and also at various investing conferences giving lectures on the topic of investments since 2001. He was named the recipient of CFA Magazine’s annual Most Driven honor in 2007.
For more on 3G Capital Management LLC., see www.3gcapital.com
Past Presentations
Seminar on Value Investing and the Search for Value (2024)
PowerPoint Presentation
Watch Video
Ivey Value Investing classes (2018)
Watch Video
Founder and Chief Investment Officer, Wincrest Capital, Nassau, NP, The Bahamas
Ms. Bernard, founder & CIO of Wincrest Capital, has a passion for investing that goes back to her days of growing up in The Bahamas. It was there that a 15-year-old Barbara Ann persuaded legendary value investor Sir John Templeton, a fellow Bahamian resident, to take her on board for the first of what would become a series of summer jobs at Templeton Global Advisors, instilling a fundamental value-oriented investment approach to the public markets. Later, working in investment banking at Goldman Sachs, followed by alternative asset management at Deutsche Bank, and as an investment analyst at Holowesko Partners, she acquired a robust grasp of private market valuation and the hedge fund industry. Today, she is the portfolio manager of the Wincrest Contraria Fund, which is a global long/short equity fund of niche, esoteric investment ideas based on bottom-up “Go-See” research. Barbara Ann was named a Young Global Leader in 2018 by the World Economic Forum. She is a graduate of Li Po Chun United World Colleges in Hong Kong, Lakefield College School in Canada, and the London School of Economics, where she Chaired the LSE Business Society. She currently serves on the Finance Committee of the Lyford Cay Foundation.
For more on Wincrest Capital, see www.wincrest-capital.com
Past Presentations
Ivey Value Investing Classes (2020)
View PowerPoint Presentation
Watch Video
Founding Partner, President and Co-Chief Executive Officer, EdgePoint Investment Group Inc., Toronto, ON, Canada
Mr. Bousada is a founding partner, President and co-CEO of EdgePoint Investment Group Inc. EdgePoint is a $30 Billion AUM business based in Toronto, Canada. Tye is Portfolio Manager of EdgePoint Global Portfolio, EdgePoint Canadian Portfolio, EdgePoint Global Growth & Income Portfolio and EdgePoint Canadian Growth & Income Portfolio. These portfolios have compounded wealth from inception to the end of March 2021 at a rate of 16.4%, 13.7%, 13.7%, and 12.1% respectively (Series I). Tye is Director of EdgePoint Wealth Management Inc. Tye also co-founded Cymbria Corporation in 2008. Cymbria is a TSX listed corporation which has delivered a compound annual return since inception to the end of March 2021 of 15.3%. Cymbria’s market capitalization is approximately $1.3 Billion (as of March 31st, 2021). Prior to founding EdgePoint and Cymbria, Tye was vice-president and portfolio manager at Invesco Ltd. (formerly Trimark Investment Management). Tye joined the company in April 1999 as a portfolio manager on the Canadian equity team. He was promoted to co-manager of Trimark Fund in 2000 and to lead manager in 2004, a position he held until his departure in January 2008. Under his management, Trimark Fund was recognized numerous times for investment achievement. Prior to joining Trimark, Tye spent three years at Ontario Teachers’ Pension Plan Board, from April 1996 to April 1999, where he progressed from junior analyst to portfolio manager. Before joining Ontario Teachers’, Tye worked at Procter & Gamble from September 1993 to April 1996. Tye earned an Honours Business Administration (HBA) degree from the University of Western Ontario in 1993 and became a CFA charterholder in 1999. Tye is also co-founder of Timbercreek Investment Management, one of Canada’s leading private real-estate companies with assets under management of approximately $7 billion. Tye lives in King City with his wife, Susie, of 23 years. Susie and Tye have three children, Noah, Isabella, and Liam.
For more on EdgePoint Investment Group Inc., see www.edgepointwealth.com
Past Presentations
Ivey Value Investing Classes (2023)
PowerPoint Presentation
Watch Video
President and Founder, Steadyhand Investment Funds Inc., Toronto, ON, Canada
Mr. Bradley is the President and founder of Steadyhand Investment Funds Inc. His education includes a Bachelor of Commerce degree from the University of Manitoba (1979) and an MBA from the Ivey Business School (1983). Tom has 25 years of experience in the investment industry. He started his career in 1983 as an Equity Analyst at Richardson Greenshields. Tom spent eight years with the firm, the last three of which he served as Director, Institutional Sales. In 1991, he joined Phillips, Hager & North Investment Management Ltd., where he continued his career as a research analyst and took on additional responsibilities as an Institutional Portfolio Manager. In 1996, Tom was appointed to the Board of Directors of PH&N. In 1998 he took on the role of Chief Operating Officer, and shortly thereafter, in 1999, he was appointed President and Chief Executive Officer, a role that he held until he resigned from the firm in 2005. Tom writes a column every second Saturday in the Report on Business section of the Globe and Mail.
Past Presentations
Ivey Value Investing classes (2009)
Video Not Available
Chairman, Brandes Investment Partners LP, San Diego, CA, USA
Mr. Brandes is Chairman of the firm’s five-member Executive Committee, where he shares responsibility for driving strategic decisions and monitoring implementation of the firm’s vision and objectives at Brandes Investment Partners, L.P. He is also a member of the all-cap investment committee and the Investment Oversight Committee, which monitors the processes and activities of the firm’s investment committees. Before founding Brandes in 1974, Mr. Brandes became an acquaintance of Benjamin Graham, widely considered the father of the value-investing approach. He has also authored a book on value investing. Mr. Brandes is a board member of several organizations involved in scientific, eleemosynary and cultural work. He earned his BA in economics from Bucknell University and has 46 years of investment experience.
Past Presentations
Ivey Value Investing Classes (2015)
PowerPoint Presentation
Watch Video
Ivey Value Investing Classes (2006)
Watch Video
Chief Executive Officer and Co-Founder, Turtle Creek Asset Management, Toronto, ON, Canada
Mr. Brenton is the CEO and a co-founder of Turtle Creek Asset Management, a Toronto-based independent investment management firm that invests in publically listed equities. Turtle Creek is focused on long term capital growth for a clientele of high net worth individuals, families and institutions and has an exceptional 15 year investment track record. Previously, Mr. Brenton founded and was the CEO of the private equity subsidiary of The Bank of Nova Scotia where he invested $300 million in control positions of a dozen Canadian mid-market private companies. In the early 1990's, Mr. Brenton was head of the high technology investment banking practice of Scotia Capital and prior to that, he was a founding member and Managing Director in the firm’s mergers and acquisitions practice. Mr. Brenton joined McLeod Young Weir (the predecessor to Scotia Capital) in 1984. Mr. Brenton received his MBA from the Richard Ivey School of Business (University of Western Ontario) in 1984 and his B.Sc. from Mount Allison University in 1980.
For more on Turtle Creek Asset Management, see www.turtlecreek.ca
Past Presentations
Ivey Value Investing Classes (2022)
PowerPoint Presentation
Watch Video
Seminar on Value Investing and the Search for Value (2015)
PowerPoint Presentation
Watch Video
Managing Director, Tweedy, Browne Company LLC, Stamford, CT, USA
Mr. Browne has been with Tweedy, Browne Company LLC, a registered investment advisor, since 1978 and is a member of the firm's Management Committee and Investment Committee. He is a Managing Director of Tweedy, Browne Company LLC, and Chairman of the Board of Directors and Vice President of Tweedy, Browne Fund Inc., a US-based mutual fund group, and is also Chairman of the Board of Directors of Tweedy, Browne Value Funds SICAV, domiciled in Luxembourg. Founded in 1920, and serving originally as a broker to Benjamin Graham and other highly noted value investors, Tweedy, Browne began managing money for clients in 1968, and today manages approximately $18B in value portfolios for individuals, family groups and institutions. Mr. Browne is a Trustee Emeritus of Colgate University, and holds the degrees of B.A. from Colgate University and M.B.A. from Trinity College in Dublin, Ireland. Additionally, he is a Member of the Executive Advisory Board of the Heilbrunn Center for Graham & Dodd Investing. Mr. Browne has over 40 years of experience in the investment management business, and is a frequent speaker on value investing, investment theory, and behavioral finance.
Past Presentations
Ivey Value Investing Classes (2014)
Watch Video
Chief Executive Officer, Berkshire Hathaway, Omaha, NE, USA (Headquarter Visit)
Mr. Buffett, the world's best known investor and one of the world's richest persons, has repeatedly invited Dr. George Athanassakos, and his HBA and MBA Value Investing students to visit with him at the company's headquarters in Omaha, Nebraska. The itinerary involved a Q&A/tour at Nebraska Furniture Mart (A Berkshire Hathaway subsidiary), a Q&A with Mr. Buffett at the Berkshire Headquarters, and lunch with Mr. Buffett. The visit gave Ivey students a once in a life time opportunity to meet with one of the best value investors in the world, also known as “the Oracle of Omaha”.
Mr. Buffett is chairman and CEO of Berkshire Hathaway. Mr. Buffett was a student of Benjamin Graham at Columbia University and under Mr. Graham's guidance he learned his Value Investing skills. The Ivey Business School is one of only two Universities in the world to offer a formal program in Value Investing and Dr. Athanassakos' chair is named after Mr. Buffett's mentor Mr. Graham. Berkshire Hathaway's core business is insurance, including property and casualty insurance, reinsurance and specialty nonstandard insurance. In addition, Berkshire owns a diverse range of businesses including candy production, retail, home furnishings, encyclopedias, vacuum cleaners, jewellery sales, newspaper publishing, manufacturing and distribution of uniforms and manufacturing, importing and distribution of footwear. Under Mr. Buffett, the Company has averaged a 25%+ annual return to its shareholders for the last 30 years while employing large amounts of capital and minimal debt.
Past Interviews
(March 31, 2008)
A Discussion between Mr. Warren Buffett, Dr. George Athanassakos and Ivey MBA and HBA students
Read Transcription
Founder and President, Chou Associates Management Inc., Toronto, ON, Canada
Mr. Chou is the President of the Toronto-based Chou Associates Management Inc. Mr. Chou, a CFA, ended his formal education at Grade 12. While working as a technician for a phone company in 1981, he started an investment club that would later become Chou Associates Fund. Mr. Chou has operated five of the country’s most successful funds over the last 20 years (Chou Associates Fund, Chou Bond Fund, Chou RRSP Fund, Chou Asia Fund, and Chou Europe Fund). In 2004, the Canadian Investment Award named him the fund manager of the decade. His approach is to “find bargains and maintain discipline; if you cannot find bargains, stay in cash.” Currently (2024), Mr. Chou manages over $650 million in assets in his firm through five mutual funds and two insurance companies (Stonetrust and Loggerhead). The financial media have extensively covered Francis’ style, performance and character over the years. See media articles on Francis:
- How Lipper Award-winning money manager Francis Chou keeps his conviction in volatile markets
- It's a bird, it's a plane...no, it's mild-mannered Francis Chou
For more on Chou Associates Management Inc., see www.choufunds.com/associates.html
Past Presentations
Ivey Value Investing Classes (2024)
PowerPoint Presentation
Watch Video
Seminar on Value Investing and the Search for Value (2022)
Video Not Available
Ivey Value Investing Classes (2022)
PowerPoint Presentation
Watch Video
Virtual Seminar on Value Investing and the Search for Value (2021)
Watch Video
Seminar on Value Investing and the Search for Value (2016)
Watch Video
Seminar on Value Investing and the Search for Value (2013)
Watch Video
Ivey Value Investing Classes (2009)
Watch Video
Ivey Value Investing Classes (2008)
Watch Video
Ivey Value Investing Classes (2007)
Watch Video
Ivey Value Investing Classes (2006)
Watch Video
Principal, The Cundill Group, Vancouver, BC, Canada
Mr. Cundill was the Principal of the Cundill Group. In 1977, Peter founded Peter Cundill & Associates Ltd. Throughout his career Peter earned many distinctions including the Analysts’ Choice Career Achievement Award as the greatest mutual fund manager of all time.
Past Presentations
Ivey Value Investing Classes (2005)
Watch Video
Senior Adviser, First Eagle Investment Management, New York, NY, USA
Born in Poitiers, France in 1940, Mr. Eveillard is a graduate of Ecole des Hautes Etudes Commerciales, an esteemed French graduate school for business studies. He started his career in 1962 with Societe Generale until relocating to the United States in 1968. Two years later, Mr. Eveillard began as an analyst with the SoGen International Fund. In 1979, he was appointed as the portfolio manager of the Fund, later named the First Eagle Global Fund. He then went on to manage the First Eagle Overseas and First Eagle Gold Funds at their inception in 1993. After managing the Funds for 30 years, Mr. Eveillard now serves as Senior Adviser and member of the Board Trustees to First Eagle Funds and as a Senior Vice President of First Eagle Investment Management, LLC. Mr. Eveillard was named Morningstar's International Manager of the Year in 2001, and in 2003 received a Lifetime Achievement Award from Morningstar for building one of the most successful long-term records in the investment business.
Past Presentations
Ivey Value Investing Classes (2014)
Watch Video
Founder and Chief Investment Officer, Ewing Morris & Co Investment Partners, Toronto, ON, Canada
Mr. Ewing founded Ewing Morris & Co. Investment Partners in June 2011. Ewing Morris is a value-driven investment firm focused on small/mid cap North American companies and invests across capital structures. John serves as Chief Investment Officer and manages the firm’s flagship Opportunities Fund. Prior to Ewing Morris, John was Vice President and Director of Research at Burgundy Asset Management. John graduated with distinction from the University of Guelph in 2005 with an Honours Bachelor of Science in Engineering degree and a Minor in Business Administration. He won the President’s Trophy as Guelph’s top student-athlete in 2005 and has completed the Investment Management Workshop at Harvard Business School.
Past Presentations
Seminar on Value Investing and the Search for Value (2019)
PowerPoint Presentation
Watch Video
Chief Executive Officer, Head of Research and a Portfolio Manager, Southeastern Asset Management, Inc., Memphis, TN, USA
Mr. Glotzbach serves as Chief Executive Officer, Head of Research and a Portfolio Manager at Southeastern Asset Management, Inc. He is a Principal of the firm and serves as a Director on its board. Southeastern is a $13 billion investment advisor that focuses on long-term, concentrated, engaged value investing in public equities for institutional clients and the Longleaf Partners mutual funds and UCITS funds. As part of the firm’s engagement approach, Mr. Glotzbach and the research team often collaborate with corporate management teams and boards on ways to build long-term value for shareholders and prospective directors who could enhance companies’ strategic efforts. In 2019, Mr. Glotzbach was the keynote speaker at the 17th Annual Value Investor Conference and a panelist at the 10th Annual “From Graham to Buffett & Beyond” Dinner in Omaha, Nebraska during the Berkshire Hathaway shareholder meeting week. In 2020, he was a panelist on the “From Graham to Buffett & Beyond” Omaha Panel Webinar. He was recently featured on The Value Investing Legends podcast hosted by the Heilbrunn Center for Graham & Dodd Investing at the Columbia Business School. Mr. Glotzbach has been with Southeastern since 2004. He was a Corporate Finance Analyst at Stephens Inc. from 2003 to 2004. He has been a CFA Charter holder since 2006. Mr. Glotzbach received a B.A. in Economics from Princeton University in 2003. Mr. Glotzbach serves as Chairman of Memphis Grizzlies Preparatory Charter School.
For more on Southeastern Asset Management, Inc., see www.southeasternasset.com
Past Presentations
Ivey Value Investing Classes (2021)
PowerPoint Presentation
Watch Video
Founder & Managing Director, Rational Investment Group, LP, Boston, MA, USA
Mr. Gottfried is the founder and Managing Partner of Rational Investment Group, LP, a Boston-based firm following a concentrated, long-term and opportunistic investment approach. Prior to founding Rational, Mr. Gottfried was an analyst at Fairholme Capital Management. He began his career at Veritas Investment Research, Canada’s largest independent equity research firm. Mr. Gottfried graduated with a BBA with Honors from the Schulich School of Business at York University in Toronto, where he was a President’s Scholarship recipient.
Past Presentations
Ivey Value Investing Classes (2019)
PowerPoint Presentation
Watch Video
Chairman and Chief Executive Officer, Southeast Asset Management, Memphis, TN, USA
Mr. Hawkins is the Chairman and Chief Executive Officer of Southeast Asset Management. He has a BA from the University of Florida and an MBA from the University of Georgia. Since 1975, when Mason became the Chairman of Southeast Asset Management, he and his associates have made a habit of handily outperforming all relevant indices for pretty much whatever period you may want to choose.
Past Presentations
Value Investing Conference (2018)
Watch Video
Ivey Value Investing Classes (2005)
Watch Video
Head of Investments, Templeton Funds (now Franklin Templeton), The Bahamas
In his native Bahamas, Mr. Holowesko is head of investments for Templeton Global, operating in offices where Sir John, now 87, greeted his junior partner on his first day in 1985 with a copy of the book “Extraordinary Popular Delusions and the Madness of Crowds”.
Past Presentations
Ivey Value Investing Classes (2005)
Watch Video
Portfolio Manager, Robotti & Company Advisors LLC., New York, NY, USA
Prior to joining Robotti & Company Advisors, Mr. Jensen was employed by Third Avenue Management in various roles, including Chief Investment Officer (“CIO”), Co-CIO, portfolio manager and senior analyst from 1995 to 2014. Mr. Jensen co-managed the Third Avenue Small Cap Value Fund from its inception in 1997 until 2001 when he was named sole manager of the Fund. Mr. Jensen oversaw the firm’s “small cap” strategy, which advised as much as $4 billion of client assets. From 2003 until 2009, Mr. Jensen also served as Co-Chief Investment Officer, along with the firm’s founder, Martin Whitman, until being named sole CIO in January of 2010. At its peak, Third Avenue managed more than $28 billion of client assets across five strategies. Mr. Jensen was a member of the firm’s management and risk committees and oversaw the recruiting and mentoring of more than 30 members of the firm’s research team. During his tenure at Third Avenue Mr. Jensen was a member of the nominating committee of the Board of Directors at Investor AB, Sweden’s leading industrial holding company. In 1999, he was awarded the Richard L. Rosenthal award for Innovation in Investment Management / Corporate Finance. From 1989 to 1993, Mr. Jensen held the role of Chief Operating Officer at Ciao Bella Gelato, an award-winning manufacturer and distributor of frozen dessert products that was sold to a private-equity firm. From 1984 to 1989 Mr. Jensen held various corporate finance positions, including Assistant Vice President at Manufacturers Hanover Trust Company. Mr. Jensen holds a BA in Economics from Williams College and an MBA from Yale University School of Management.
For more on Robotti & Company Advisors LLC, see https://advisors.robotti.com/
Past Presentations
Ivey Value Investing Classes (2022)
PowerPoint Presentation
Watch Video
Chairman, Kahn Brothers & Company Inc., New York, NY, USA
Mr. Kahn is the Chairman of Kahn Brothers & Company. He was educated at the City College of New York and served as the second teaching assistant to Benjamin Graham at the Columbia Business School after Leo Stern. Mr. Kahn has over 78 years of experience in the investment business and is the founder of the Financial Analysts’ Journal.
Past Presentations
Ivey Value Investing Classes (2005)
Watch Video
Chairman and Chief Executive Officer, Glenair Inc., Glendale, CA, USA
Mr. Kaufman is Chairman and CEO of Glenair, Inc. in Glendale, California, a manufacturer of electrical and fiber optic components and assemblies primarily for aerospace applications. He first started working for Glenair while in college nearly 40 years ago, and has been CEO for many decades. He received a Bachelor of Science degree in Accounting in 1976 (Cum Laude), and a Master of Business Administration degree in 1977, both from the University of Southern California. He was a longtime director of Wesco Financial, a unit of Berkshire Hathaway, and is a current director of Daily Journal Corporation. In 2005 he edited and published Poor Charlie’s Almanack, a compilation of talks given by his longtime friend Charlie Munger. Peter is actively involved in a variety of local and national non-profit organizations. He and his wife, Mary Grace, are long-time residents of Pasadena, California, and have two grown daughters.
Past Presentations
Ivey Value Investing Classes (2017)
Video Not Available
President, The Baupost Group, Boston, MA, USA
Mr. Klarman is President of The Baupost Group, L.L.C. Founded in 1982, Baupost discretionarily manages $15 billion for a number of institutional and wealthy individual investors. Baupost uses a value discipline with an event-driven bias to find global opportunities in such diverse areas as publicly-traded and private equities, bankrupt and financially-distressed debt, and real estate. Seth has managed Baupost’s investments from inception. Baupost’s largest partnership vehicle has achieved net annual return to investors of just over 20% and has experienced only one money-losing year since it was formed in 1983. Seth is a 1982 MBA graduate of Harvard Business School, where he was a Baker Scholar. He received his Bachelor of Arts, magna cum laude, in Economics from Cornell University in 1979. In 1991, he wrote a now out of print book entitled ''Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor'', which sells for $1,200 on Amazon and $2,000 on eBay and has been stolen from most libraries. Seth is also a world-class worrier. In one letter, Mr. Klarman said, ''At Baupost, we are big fans of fear, and in investing, it is clearly better to be scared than sorry.'' In an earlier note, he wrote, ''Rather than ratchet up risk, our approach has been to hold cash in the absence of opportunity.'' Seth serves on several not-for-profit boards and lives in Chestnut Hill, Massachusetts with his wife and three children.
Past Presentations
Ivey Value Investing Classes (2009)
Watch Video
President, Hamblin Watsa Investment Counsel Ltd., Toronto, ON, Canada
Mr. Lace is currently President of Hamblin Watsa Investment Counsel Ltd., a wholly-owned subsidiary of Fairfax Financial Holdings Limited, a publicly listed insurance holding company. In this capacity, he and his team are responsible for managing Fairfax’s global investment assets. He leads the equity management group in uncovering investment opportunities worldwide using the value investing approach. He has served in the investment industry since 1975, initially receiving his training as a research analyst at Confederation Life under the tutelage of value investing specialist John H. Watson (cofounder of Sprucegrove Investment Management Ltd.) He subsequently worked in portfolio management at Scotia McLeod and has been a portfolio manager and principal at Hamblin Watsa since 1986. He received his SB in management from the Alfred P. Sloan School, MIT in 1973, his MBA from Ivey in 1975, and CFA in 1979.
Past Presentations
Ivey Value Investing Classes (2014)
Watch Video
Founder & Executive Director, Overlook Investments Limited, Hong Kong
Mr. Lawrence is the Founder and Executive Chairman of Overlook Investments Group, which he established in 1991. Overlook is an independent fund management company that invests US$ 7 billion in a concentrated portfolio of public equities throughout Asia, excluding Japan. Overlook has compounded investors’ capital in excess of 14% per year for 30 years. Richard grew up outside New York City and graduated from South Kent School in 1974, and Brown University in 1978 with a degree in Economics. From 1978 to 1981 Richard lived in South America and was a financial analyst for the Organización Diego Cisneros, a conglomerate based in Caracas, Venezuela. From 1981 to 1984, Richard lived in New York and was Vice President responsible for equity research at J. Bush & Company, Inc., a NYSE member firm. In 1984 he traveled to Asia and worked as Vice President at First Pacific before founding Overlook in 1991. In 1986, he became the second Chartered Financial Analyst in Asia. Richard is a director and co-founder of several non-profits including Proyecto Mirador Foundation, which has built over 230,000 fuel-efficient stoves in rural communities across Central America; Cool Effect, an online platform that supports high-quality carbon reduction projects worldwide; High Tide Foundation, a grant making foundation focused on climate change mitigation; and Carbon Mapper, which develops satellite technology to pinpoint and track point source emissions. He is also a member of the Board of Directors of The National Audubon Society. Richard’s first published book, The Model: 37 Years Investing in Asian Equities, is due for release in 2021. Richard currently lives in San Francisco, California, with his wife and two adult children.
Past Presentations
Ivey Value Investing Classes (2015)
PowerPoint Presentation
Watch Video
President, Lewin Capital Management Ltd., Vancouver, BC, Canada
Mr. Lewin is an investor who has managed equity portfolios for his entire career. He spent his first five years as a partner at Leith Wheeler Investment Counsel and the next ten years as a partner and senior equity analyst at Phillips, Hager & North Investment Management. He then went on to establish his own company, Lewin Capital Management (LCM), which recently celebrated its ten-year anniversary. Dan has a broad range of experience managing money. Over the years he has interviewed the senior management of more than one thousand companies, managed a US small cap deep value fund, traded several billion in fixed income securities, created and implemented a strategy to immunize the liabilities of defined benefit pension plans, and managed equities for institutional, high net worth and mutual fund clients. By far the most rewarding and challenging experience of Dan’s career has been building his own investment firm. Dan founded LCM in 2008 with the objective of earning competitive absolute returns for a limited number of large clients, utilizing a focused approach and a conservative definition of risk. According to surveys of Canadian institutional managers, LCM’s ten-year results since inception beat 95% of Canadian Equity Funds and 75% of US Equity Funds. Dan is a Leslie Wong Fellow, he earned a Bachelor of Commerce degree with Honors from UBC in 1993, and obtained his Chartered Financial Analyst designation in 1996. In addition to volunteering as a counselor for the UBCPMF, Dan is on the board of the Pennask Lake Fishing and Game Club, and previously served as Chairman of the Down Syndrome Research Foundation, a non-profit organization that provides research and programs for children and their families. He lives in Vancouver with his wife and three children.
For more on Lewin Capital Management Ltd., see www.lewincapital.com
Past Presentations
Ivey Value Investing Classes (2024)
PowerPoint Presentation
Watch Video
President, Lountzis Asset Management, LLC, Wyomissing, PA, USA
Mr. Lountzis is the President of Lountzis Asset Management, LLC, which he founded in 2000 and is based in Wyomissing, PA. Paul is a graduate of Albright College. He has more than twenty-five years, experience in the investment industry, beginning his career in 1989 with Royce & Associates, a New York City-based investment advisory firm managing the Royce Mutual funds. Paul spent nine years, including five years as a partner, at Ruane, Cunniff & Goldfarb Inc., an investment advisory firm managing more than $9 billion, including the Sequoia Mutual Fund. At Ruane, Cunniff & Goldfarb, Bill Ruane assigned him to conduct a number of specific research projects for the consideration of Warren E. Buffett, Chairman and CEO of Berkshire Hathaway, Inc.
Past Presentations
Ivey Value Investing Classes (2019)
Watch Video
UNITEDHEALTH GROUP Report
ZOETIS Report
Ivey Value Investing Classes (2017)
Watch Video
Founder and President, Patient Capital Management Inc., Toronto, ON, Canada
Mr. Maida has been in the investment industry since 1987. Prior to founding Patient Capital Management Inc. he held portfolio management positions at Trimark Financial Corp., Hamblin Watsa Investment Counsel and the Ontario Municipal Employee Retirement System (OMERS). Vito has managed a broad number of mandates including high net worth individuals, institutional pension plans and mutual funds. He has developed a reputation as a leading proponent of value investing in Canada. Vito received his MBA from the Ivey Business School (1987) and his B.B.A. from Wilfrid Laurier (1983). He graduated on the Dean’s List from both Wilfred Laurier and the University of Western Ontario. He was awarded the Chartered Financial Analyst’s designation in 1990. Vito is a member of the CFA Institute and the Toronto CFA Society.
Past Presentations
Seminar on Value Investing and the Search for Value (2016)
Watch Video
Ivey Value Investing Classes (2013)
Watch Video
President and Chief Investment Officer, Giraffe Capital Corp., Toronto, ON, Canada
Mr. Mandelman is the President and Chief Investment Officer of Giraffe Capital Corp. He has a BSc in Aeronautical Engineering from Israeli Technion University, an MBA from Stanford Graduate School of Business and an MA in English from San Francisco State University. He started Giraffe in 1999 to invest in value tech stocks. Before that he ran the research departments at Gordon Capital, First Marathon and Brown, Baldwin and Nisker, a brokerage research boutique with six analysts under Avner all of whom ranked by Brandon Woods #1 in their field. Avner himself was ranked #1 in tech stocks. Over the last five years Giraffe Capital has been the only technology fund in North America to have earned a positive return for its clients. Avner writes extensively about investments in Canadian and US newspapers and magazines, including the Globe and Mail and Baron’s.
Past Presentations
Ivey Value Investing Classes (2007)
Watch Video
Watch Q & A
Co-Chairman, Oaktree Capital Management, L.P., Los Angeles, CA, USA
Since the formation of Oaktree in 1995, Mr. Marks has been responsible for ensuring the firm’s adherence to its core investment philosophy; communicating closely with clients concerning products and strategies; and contributing his experience to big-picture decisions relating to investments and corporate direction. From 1985 until 1995, Mr. Marks led the groups at The TCW Group, Inc. that were responsible for investments in distressed debt, high yield bonds, and convertible securities. He was also Chief Investment Officer for Domestic Fixed Income at TCW. Previously, Mr. Marks was with Citicorp Investment Management for 16 years, where from 1978 to 1985 he was Vice President and senior portfolio manager in charge of convertible and high yield securities. Between 1969 and 1978, he was an equity research analyst and, subsequently, Citicorp's Director of Research. Mr. Marks holds a B.S.Ec. degree cum laude from the Wharton School of the University of Pennsylvania with a major in finance and an M.B.A. in accounting and marketing from the Booth School of Business of the University of Chicago, where he received the George Hay Brown Prize. He is a CFA® charterholder. Mr. Marks is a Trustee and Chairman of the Investment Committee at the Metropolitan Museum of Art; Chairman of the Investment Committee of the Royal Drawing School; and an Emeritus Trustee of the University of Pennsylvania where from 2000 to 2010 he chaired the Investment Board.
Past Presentations
Value Investing Conference (2023)
Watch Video
Watch Video Clips With Spanish Subtitles
Value Investing Conference (2021)
PowerPoint Presentation
Watch Video
Watch Video With Korean Subtitles - Video 1
Watch Video With Korean Subtitles - Video 2
Watch Video With Korean Subtitles - Video 3
Watch Video With Korean Subtitles - Video 4
Ivey Value Investing Classes (2013)
Watch Video
Founder, President & Chief Investment Officer, GreensKeeper Asset Management Inc., Oakville, ON, Canada
Mr. McCloskey founded GreensKeeper Asset Management in 2010 and has more than 27 years of industry experience. He started his career as a lawyer at Aird & Berlis LLP and became a partner four years after joining the firm. His legal career focused on the areas of Corporate Finance and M&A. Michael then joined Sprott Securities (now Cormark Securities) as an investment banker and partner of the firm. He participated in the management-led buyout of the firm from its founder Eric Sprott. At Cormark he led numerous IPOs, debt and equity financings, takeover bids and M&A advisory assignments. Before practising law, Michael earned a B.Sc. (Honours), Mathematics from the University of Western Ontario and also graduated with joint graduate degrees in law and business: J.D., Osgoode Hall Law School / M.B.A. (Honours), Schulich School of Business, York University. Michael is an Ironman finisher, an avid golfer, and a voracious reader. Michael and his wife Marie France live in Lorne Park, Mississauga with their two daughters.
For more on GreensKeeper Asset Management, see www.greenskeeper.ca
Seminar on Value Investing and the Search for Value (2023)
View PowerPoint Presentation
Video Not Available
Founder and President, McElvaine Investment Management Ltd., Vancouver, BC, Canada
Mr. McElvaine is the founder and President of McElvaine Investment Management Ltd. Tim established The McElvaine Investment Trust in 1996 and acquired The McElvaine Limited Partnership (previously Cundill Capital Limited Partnership) in the summer of 2000. Tim developed his value-oriented philosophy during his 12-year career with Peter Cundill & Associates Ltd. where, amongst other capacities, he served as Manager of the Cundill Security Fund (1992-99), Co-Manager of the Cundill Value Fund (1998-2003) and Chief Investment Officer (1998-2003). Tim has served as non-executive Director of Sun-Rype Products and Humpty Dumpty Snack Foods, Rainmaker Entertainment and Glacier Media. He also worked for the Bank of NT Butterfield in Bermuda and Touche Ross in Toronto. Tim earned a Bachelor of Commerce (B.Comm) from Queen’s University in 1986, qualified as a Chartered Accountant in 1988 and as a Chartered Financial Analyst in 1991.
Past Presentations
Ivey Value Investing Classes (2011)
PowerPoint Presentation
Watch Video
Chief Investment Officer, Managing Member and Co-Founder, Ides Capital Management LP, New York, NY, USA
Ms. McKeever is Chief Investment Officer, Managing Member and CoFounder of Ides Capital Management LP, a New York-based investment advisor focused on small and mid-capitalization public companies that are deeply undervalued and provide a margin of safety. Ides constructively engages with management teams and corporate boards to improve corporate governance practices and to implement changes that drive longterm value for the benefit of all shareholders. Prior to Ides, Ms. McKeever was a Partner at Park Row Capital. Ms. McKeever began her career at Barington Capital Group, a New York-based small cap activist fund, where she was a Partner and which she joined in 2001. Ms. McKeever has served as a public company director of LQ Corporation, Inc. and Sielox Inc., where she chaired the Nominating and Governance Committee and serves as a member of the Council of Institutional Investors’ Corporate Governance Advisory Council. She holds a JD from Fordham Law and received a BE in Chemical Engineering from Stevens Institute of Technology and a BS in Chemistry from New York University. Ms. McKeever was recently named to Fortune Magazine’s 40 Under 40, Marie Claire’s New Guard and Crain’s New York Business 40 Under 40. She is an American Swiss Foundation Young Leader and received the 2018 Stevens Distinguished Alumni Award in Business and Finance.
For more on Ides Capital Management LP, see www.idescapital.com
Past Presentations
Ivey Value Investing Classes (2021)
Video Not Available
Portfolio Manager and Head of Fixed Income, Picton Mahoney Asset Management, Toronto, ON, Canada
Mr. Mesman is a partner and lead portfolio manager of Picton Mahoney Asset Management’s income strategies. Phil’s previous investment experience includes working through the ranks at Scotiabank as a commercial lender, at Merrill Lynch as a proprietary analyst and trader, at Greywolf Capital as a credit analyst and at Harris Investments as managing director and portfolio Manager. Having joined the investment industry in 1993 and being a second-generation credit specialist, Phil brings extensive experience in all facets of income investing. Phil graduated from the University of Western Ontario with a degree in economics and is a CFA charterholder.
For more on Picton Mahoney Asset Management, see https://www.pictonmahoney.com/
Past Presentations
Ivey Value Investing classes (2024)
Video Not Available
President, I. A. Michael Investment Council Ltd., Toronto, ON, Canada
Mr. Michael is the President of I. A. Michael Investment Council Ltd. He earned his bachelor of commerce degree from McGill University in 1971. In 1973, he received an MBA from the Wharton School of Finance at the University of Pennsylvania and in 1979 he earned his CFA designation. Upon graduation from Wharton, Irwin started his career at Hodgson, Roberton, Laing & Company in the capacity of fixed income portfolio manager and bond trader. He then moved on to Morgan Stanley Canada Limited and worked in the areas of fixed income research and institutional sales. Prior to forming his own investment council firm, Irwin was a partner at Beutel Goodman & Co, where he served as vice-president of fixed income investments and portfolio manager of Dynamic Income Fund. He has also served as a director of the Toronto Society of Financial Analysts and is a former vice president of the Toronto Futures Exchange. I. A. Michael Investment Council Ltd., established in 1985, is dedicated to managing the ABC Funds. By concentrating on securities that are deemed to be undervalued, ABC Funds’ portfolios are structured for superior long term returns with limited downside risk. Irwin is the single largest individual unit holder of ABC Funds. He does not trade for his own account and has confined his and his family’s investments to ABC Funds.
Past Presentations
Ivey Value Investing Classes (2010)
Watch Video
Ivey Value Investing Classes (2007)
Watch Video
Watch Q & A
Chief Investment Officer, Portfolio Manager, Global Equity, Mawer Investment Management Ltd., Calgary, AB, Canada
Mr. Moroz is Chief Investment Officer and a director at Mawer Investment Management Ltd., which he joined in 2004. He is also co-manager of the Mawer Global Equity Fund and the Mawer Global Small Cap Fund. As Chief Investment Officer, he has broad responsibility for the research and analysis of global equities and fixed income securities. Mr. Moroz relocated to Singapore during 2016 to 2017 and served as CEO and Director of Mawer Investment Management Singapore Pte. Ltd. In 2013, Mr. Moroz won the prestigious Morningstar Foreign Equity Fund Manager of the Year award at the 19th annual Morningstar Awards. Prior to joining Mawer, Mr. Moroz was employed by Alberta Investment Management and Merrill Lynch Canada Inc. Mr. Moroz is a Chartered Financial Analyst charterholder. He earned a Bachelor of Commerce degree from the Haskayne School of Business at the University of Calgary. Mr. Moroz is a member of the CFA Institute and the Calgary CFA Society.
Past Presentations
Ivey Value Investing Classes (2019)
PowerPoint Presentation
Watch Video
Senior Vice-President & Chief Investment Officer, Empire Life Investments, Toronto, ON, Canada
Ms. Morphet, CFA is Senior Vice-President & Chief Investment Officer of Empire Life Investments. Prior to joining Empire Life in 2009, Gaelen was First Vice-President, Canadian Equities with CIBC Global Asset Management from 2002 to 2009, Senior Vice President at Merrill Lynch Investment Managers from 1999 to 2002 and Partner & Senior Portfolio Manager with AMI Partners Inc from 1996 to 1999. Ms Morphet began her career in 1984 at investment firm, McLeod Young Weir, following which she spent a decade with Scotia Investment Management as Senior Portfolio Manager heading up Canadian Equities. Throughout her 28 year career in the investment management industry Ms. Morphet has proven herself as a superior investment professional. She is a Chartered Financial analyst and a graduate of The University of Western Ontario. Ms. Morphet is a Trustee for the Art Gallery of Ontario and Chairman of the Investment Committee. She serves as a Trustee for the Ontario Science Centre, is a Director of the Ontario Arts Foundation and is a member of the Advisory Board for the Kingsett Real Estate Income Fund. Gaelen is a former Governor of the North York General Hospital Foundation.
Past Presentations
Seminar on Value Investing and the Search for Value (2014)
PowerPoint Presentation
Watch Video
Chairman, Oldfield Partners LLP, London, UK
Mr. Oldfield is chairman of a boutique investment management firm, Oldfield Partners LLP. He is also a director of Witan Investment Trust plc., and a trustee of the Prince’s Trust, Royal Marsden Cancer Charity, and Canterbury Cathedral Trust and president of Demelza House Children’s Hospice. Between 2007 and 2014, he was Chairman of Oxford University Endowment Management Ltd. and Oxford University investment committee. He is the author of the book Simple but not easy, a book about investing published in June 2007 with a second edition in 2020.
Past Presentations
Ivey Value Investing Classes (2016)
PowerPoint Presentation
Watch Video
Managing Partner, Pabrai Investment Funds, Irvine, CA, USA
Mr. Pabrai is the Managing Partner of the Pabrai Investment Funds. Since inception in 1999 with $1 million in assets under management, Pabrai Investment Funds has grown to over $549 million in assets under management in 2019. The funds invest in public equities utilizing the Munger/Buffett Focused Value investing approach. Since inception, the funds have widely outperformed market indices and most investment managers. A $100,000 investment in Pabrai Funds at inception in 1999 would have been worth almost $1.3 million as of December 31, 2019 – an annualized gain of 13.2%. Pabrai was the Founder/CEO of TransTech, Inc. - an IT Consulting and Systems Integration company. Founded in his home in 1990, Pabrai bootstrapped the company to over $20 million in revenue when it was sold in 2000. TransTech was recognized as an Inc. 500 company in 1996. Pabrai has been profiled by Forbes and Barron’s and appeared frequently on CNN, PBS, CNBC, Bloomberg TV and Bloomberg Radio. He has been quoted by various leading newspapers including USA Today, The Wall Street Journal, The Financial Times, The Economic Times and The Times of India. He is the author of two books on value investing, The Dhandho Investor and Mosaic: Perspectives on Investing. The Dhandho Investor has been translated into German, Mandarin, Japanese, Thai, Korean, Vietnamese, and Spanish. Pabrai is the winner of the 1999 KPMG Illinois High Tech Entrepreneur award given by KPMG, The State of Illinois, and The City of Chicago. He is a member of the Young President's Organization. He is the Founder and Chairman of the Dakshana Foundation. Dakshana Foundation is focused on providing world-class educational opportunities to economically and socially disadvantaged gifted children worldwide.
Past Presentations
Ivey Value Investing Classes (2012)
Watch Video
Vice President, U.S. and International Equities, Beutel, Goodman & Company Ltd., Toronto, ON, Canada
Mr. Parker joined Beutel Goodman in 2006 and has over 15 years of investment experience. He is a portfolio manager and research analyst specializing in U.S. and global equities. Prior to joining Beutel Goodman, KC was senior partner in an Ottawa-based technology firm. KC is a graduate of Simon Fraser University and a CFA charterholder.
For more on Beutel, Goodman & Company Ltd., see www.beutelgoodman.com
Past Presentations
Ivey Value Investing classes (2024)
Video Not Available
Managing Partner and Co-Founder, MSD Capital, L.P., Managing Partner and Co-Founder, MSD Partners, L.P., New York, NY, USA
Mr. Phelan is the Co-Founder and Managing Partner of MSD Capital, L.P. He is also the Co-Founder and Managing Partner of MSD Partners, L.P. Prior to forming MSD Capital, he was a Principal for seven years at ESL Partners, a Greenwich, Connecticut-based investment firm. At ESL, Mr. Phelan was responsible for ESL's Special Situation and Distressed Investments and helped grow the firm from $50 million to over $2 billion in assets under management. Prior to ESL, Mr. Phelan was a Vice President in the Equity Group and was in charge of Acquisitions (Western Region) for the Zell-Merrill Lynch Real Estate Opportunity Funds. He began his career at Goldman, Sachs & Co., where he worked as an Analyst in the Investment Banking Division. Mr. Phelan received his M.B.A. from Harvard Business School and graduated Phi Beta Kappa and cum laude with distinction from Southern Methodist University with a B.A. in Economics and Political Science. Mr. Phelan also holds a General Course degree with an emphasis in Economics and International Relations from The London School of Economics. Mr. Phelan is a member of the Board of Trustees at the Whitney Museum of Art, Aspen Art Museum (Chairman), Cold Spring Harbor Laboratory (Chairman of the Investment Committee), Spirit of America and Third Option Foundation. He also serves on the Board of Dean's Advisors for the Harvard Business School, the Investment Committee for the SMU Endowment and the North American Advisory Board for the London School of Economics. Mr. Phelan and his wife Amy have sponsored numerous fellowships and scholarships at Harvard Business School, London School of Economics and Southern Methodist University and in 2008 permanently endowed free admission to the Aspen Art Museum.
For more on MSD Capital, see www.msdcapital.com
Past Presentations
Ivey Value Investing Classes (2022)
Video Not Available
President & Portfolio Manager, Foyston Gordon & Payne Inc., Toronto, ON, Canada
Mr. Pilsworth joined FGP in 2007 as a senior analyst covering the Telecom and Financial sectors and became FGP’s Small Cap Canadian Equity portfolio manager in 2012. Bryan continues to manage FGP's small cap strategies, in addition to his role as President. He is a member of FGP’s Board of Directors, Executive Committee, and Investment Committee. Bryan graduated from the Richard Ivey School of Business at the University of Western Ontario (MBA) and from Carleton University (BComm). He was on the Dean’s Honour List at both universities. Bryan is also a CFA charterholder.
Past Presentations
Ivey Value Investing Classes (2018)
Watch Video
Founder and Chief Investment Officer, Robotti & Company Advisors LLC., New York, NY, USA
Mr. Robotti is the Founder and CIO of Robotti & Company Advisors LLC, a registered investment adviser, and president of Robotti & Company LLC, a registered broker-dealer. He started his career as an accountant and CPA, and served as CFO of Gabelli & Company. Building on his exposure to other prominent value investors, Bob founded Robotti & Company in 1983. The firm’s success over time has been due to his and his team’s ability to identify companies trading at a significant discount to intrinsic value. While investing across a wide range of industries, Bob has been particularly active in the energy industry for his entire career. Bob currently serves on the boards of Panhandle Oil & Gas Inc. (NYSE:PHX) and Pulse Seismic Inc. (TSX:PSD). He was a member of the Securities and Exchange Commission's Advisory Committee on Smaller Public Companies, established to examine the impact of Sarbanes-Oxley Act and other aspects of the federal securities law. Bob graduated from Bucknell University and holds an MBA from Pace University.
Past Presentations
Ivey Value Investing Classes (2013)
PowerPoint Presentation
Watch Video
Vice Chair and Co-Founder, Burgundy Asset Management Ltd., Toronto, ON, Canada
Mr. Rooney is the Vice Chair and Co-Founder of Burgundy Asset Management Ltd. He received a Bachelor of Arts degree from the University of Toronto in 1977 and an MBA from the Ivey Business School at Western University in 1981.
Mr. Rooney began his career in Price Waterhouse in 1981 and qualified as a Chartered Accountant in 1984. In 1984, he joined Sun Life as an Investment Analyst and, in 1986, he became investment officer of Sunimco, a subsidiary of Sun Life. In 1989, he joined AMI partners where he had extensive responsibilities for investment research and portfolio management in the Canadian Equities group. Burgundy, Mr. Rooney, joined in 1995 as a Senior Vice President and in 1997 he was appointed president of Burgundy Asset Management Ltd. Under his leadership, Burgundy has been ranked as one of Canada’s 50 best managed companies. In 2002, Mr. Rooney completed a three-year term on the Accounting Standards Board of the Canadian Institute of Chartered Accountants. Mr. Rooney is President and a Trustee of The Art Gallery of Ontario Foundation, a Director of Empire Life Insurance, a Director of the Historica-Dominion Institute and Past Chair of the Stratford Festival of Canada. In 2009, he was honoured by his peers and received the designation of Fellow of the Institute of Chartered Accountants.
Past Presentations
Ivey Value Investing Classes (2011)
PowerPoint Presentation
Watch Video
Ivey Value Investing Classes (2006)
Watch Video
President and Chief Executive Officer, Enerflex Ltd., Calgary, AB, Canada
Mr. Rossiter is responsible for Enerflex’s value creation and global growth strategy across the Company’s regions and through its four operating lines: Engineered Systems, After-Market Service, Integrated Turnkey, and Asset Ownership. Together with the Executive Management Team, he concentrates on sustainable growth opportunities while executing the Company's vision of "Transforming natural gas to meet the world's energy needs." With more than 24 years of experience at Enerflex in a progression of leadership roles, Mr. Rossiter, a Professional Engineer in the province of Alberta, brings an entrepreneurial mindset with a depth of leadership that is essential to the Company's success. Until his appointment to President and Chief Executive Officer in May 2019, Mr. Rossiter was Enerflex's Executive Vice President and Chief Operating Officer, where he was critical in driving revenue growth, while safely delivering reliable solutions. He joined the Company in Calgary as a Project Engineer and moved to the United States in 2003. Before his appointment as Executive Vice President and Chief Operating Officer in April 2018, Mr. Rossiter was President of the USA region and worked in a variety of engineering and sales management roles. Mr. Rossiter graduated from the Royal Military College of Canada with a Bachelor of Engineering in Chemical and Materials Engineering and served the country as an officer in the Canadian Army.
For more on Enerflex, see www.enerflex.com
Past Presentations
Ivey Value Investing Classes (2021)
PowerPoint Presentation
Video Not Available
Managing Member, Gardner Russo & Quinn LLC, Lancaster, PA, USA
Mr. Russo joined Gardner Investments as a partner in 1989. In 2014, Mr. Russo became the Managing Member of the firm. Mr. Russo serves as Managing Member of Gardner Russo & Quinn LLC and of Semper Vic Partners GP, LP, which oversees two “global value,” long-only, equity investment partnerships, the first of which Mr. Russo founded in 1983. Mr. Russo oversees more than $8 billion distributed between Semper Vic partnerships and separate accounts managed in parallel fashion. In his role as a global value investor, Mr. Russo attempts to commit clients’ capital to globally leading companies whose brands permit them the capacity to develop market shares in those parts of the world that are undergoing economic growth and increasing political stability. Such economic growth, coupled with increased consumer disposable income, creates a large total addressable market (TAM) for our businesses to address. He prefers companies with sufficient cash flows from existing operations to allow them to underwrite long-term-oriented investments required to build market share and develop enduring franchises. In selecting investments, Mr. Russo looks for companies that possess two valued “capacities,” i.e., the “Capacity to Reinvest” and the “Capacity to Suffer.” It is rare to find a company that possesses the above-mentioned “Capacity to Reinvest.” It is even more rare to find management teams that have the “Capacity to Suffer.” Our company managements have the “Capacity to Suffer” when investments, required to ensure strong growth in intrinsic value on a per share basis, inevitably burden current, reported profits. He has found over the years that family-controlled public companies are often best positioned to withstand criticism which comes from Wall Street when the burden of such long-term investments weighs negatively upon reported short-term profits. Hence, he has relied over time on public company investments where founding families still retain control and significant investment exposure. Typically over 50 percent of Mr. Russo’s portfolio companies remain family controlled. Founding families of our public companies, like Mr. Russo and his investors, prefer the ability of investments, intended for long-term gains, to allow one to hold positions tax efficiently for as long as franchises, built by such long-term investments, continue to deliver growth in intrinsic value on a per share basis. Thomas Russo is a graduate of Dartmouth College (BA 1977), and Stanford Business and Law Schools (JD/MBA 1984). Memberships include Dean’s Advisory Council for Stanford Law School, Dartmouth College’s President’s Leadership Council, and California Bar Association. Mr. Russo is a charter member of the Advisory Board for the Heilbrunn Center for Graham & Dodd Investing at Columbia Business School. He serves on the boards of the Winston Churchill Foundation of the U.S., Facing History and Ourselves, and Storm King Art Center. In May 2017, he was awarded The Graham & Dodd, Murray, Greenwald Prize for Value Investing.
Past Presentations
Ivey Value Investing Classes (2018)
PowerPoint Presentation
Watch Video
Value Investing Conference (2017)
PowerPoint Presentation
Watch Video
Ivey Value Investing Classes (2012)
PowerPoint Presentation
Watch Video
Founder, President and Chief Executive Officer, Sarbit Asset Management Inc., Winnipeg, MB, Canada
Mr. Sarbit, a Canadian financial services veteran, is the founder, president and CEO of Sarbit Asset Management Inc. After obtaining a BA honors and an MA degree in Geography from York University, Larry started his career in 1979 with Richardson Securities as an analyst. Larry went on to become a portfolio manager for Investors Group in 1987. He managed the US Growth Fund (now called IG US Large Cap Value Fund) from November 1987 - March 1998. Larry inherited just over $185 million in assets, and by the time of his departure from Investors Group, he was managing over $3 billion in assets. In November 1999, Larry went to AIC and launched the AIC American Focused Fund. He managed the AIC Focused Fund from November 22, 1999 - March 29, 2005 managing to grow the fund’s assets from 0 to just over $2.2 billion. With over 26 years of experience, Larry is an industry leader with a proven track record and a strong reputation for achieving superior results. Undeterred by industry fads and trends, Larry has consistently returned above average gains by following his successful investment philosophy of buying a great business at a bargain price, while managing with discipline and patience.
Past Presentations
Ivey Value Investing classes (2008)
Video Not Available
Founder, Walter & Edwin Schloss Associates, New York, NY, USA
Mr. Schloss started on Wall Street in 1934, at the age of 18, in the midst of the depression (working for Loeb Roades, then called Carl M. Loeb & Co). During the late 1930’s, Schloss took courses from Benjamin Graham at the New York Stock Exchange Institute. He was in good company. His fellow students included Gus Levy, head of the arbitrage department of Goldman Sachs; Cy Winters of Abraham, at one time president of the New York Society of Security Analysts; and other Wall Street heavyweights. At the time Schloss was working at Carl M. Loeb and Company, Graham’s brother Leon was a customer’s man at the firm and Graham kept his account there, allowing Schloss to confirm that Graham did indeed practice what he preached in class. Graham hired Schloss in 1946 as soon as Walter was discharged from the service” (from “Value Investing” by Greenwald, Kahn, Sonkin and van Biema, 2001, p. 265). The rest is history. Mr. Schloss started his limited partnership in the middle of 1955. In 1963, he earned the Chartered Financial Analyst designation. Waller’s son Edwin joined the partnership in 1973 and the fund changed its name to Walter & Edwin Schloss Associates. Over the period 1956 to 2000, Mr. Schloss and his son Edwin provided investors a compounded return of 15.3% compared with the S&P 500’s annual compounded return on 11.5%.
Past Presentations
Ivey Value Investing Classes (2008)
Watch Video
Past Interviews
(May 8, 2008)
An interview during a dinner meeting with Dr. George Athanassakos
Read interview
Founder and Co-Chief Investment Officer, Sionna Investment Managers, Toronto, ON, Canada
Ms. Shannon founded Sionna in 2002 and has more than 35 years of industry experience. She is the Founder and Co-Chief Investment Officer at Sionna, and was previously chief investment officer and senior vice president at Merrill Lynch Investment Managers Canada. Kim serves as a board member with the Canadian Coalition for Good Governance and is the Chair of its Governance Committee. She is also on the board for the Brandes Institute, the Ontario Arts Foundation, United Corporation (a listed closed-end fund), a member of the C.D. Howe Institute’s National Council and the CFA Institute Board of Regents (she previously served as its chair). Kim is also a past president of the CFA Society Toronto. She was awarded Morningstar Fund Manager of the Year (2005), the RBC Canadian Woman Entrepreneur Award, the Women’s Executive Network’s Canada’s Most Powerful Women: Top 100 Award (2007, 2017), continuously listed as one of Profit Magazine’s Top 100 Female Entrepreneurs over the last several years and a recipient of the 2015 Rotman Women in Management Association Top 10 Awards (Entrepreneur Category).
Past Presentations
Ivey Value Investing Classes (2023)
PowerPoint Presentation
Watch Video
Ivey Value Investing Classes (2015)
PowerPoint Presentation
Watch Video
Ivey Value Investing Classes (2009)
Watch Video
Founder and Managing Partner, Aquamarine Capital, Zürich, Switzerland
Mr. Spier is the founder and managing partner of Aquamarine Capital, an investment partnership styled after the original 1950’s Buffett partnerships. In 2008 Guy, along with Mohnish Pabrai, had lunch with Warren Buffett after submitting the winning bid for Buffett’s annual Glide charity auction. Guy completed his undergraduate studies at Oxford and earned an M.B.A. from Harvard Business School.
Past Presentations
Ivey Value Investing Classes (2016)
Watch Video
Chairman and Chief Executive Officer, Stacey Muirhead Capital Management, Waterloo, ON, Canada
Mr. Stacey is the founder of Stacey Muirhead Capital Management Ltd. Jeff has over 35 years of investment industry experience. Jeff has an Honours Bachelor of Business Administration degree from Wilfrid Laurier University and is a Chartered Financial Analyst. He is an Advisory Board Member of the student managed Ivey Value Fund at the University of Western Ontario. He is also an Advisory Board Member of the student managed School of Accounting and Finance Investment Fund at the University of Waterloo and a member of the Board of Trustees of Parkminster United Church. Past experience includes serving as a member of the Finance and Investment Committee at the University of Waterloo, the Dean’s Advisory Council at the Wilfrid Laurier University School of Business and Economics. He is also a former director of Rainmaker Entertainment Inc. and previously served on the Board of Trustees and Investment Management Committee at the University of Guelph.
Past Presentations
Seminar on Value Investing and the Search for Value (2023)
View PowerPoint Presentation
Video Not Available
Seminar on Value Investing and the Search for Value (2022)
View PowerPoint Presentation
Watch Video
Seminar on Value Investing and the Search for Value (2018)
PowerPoint Presentation
Watch Video
Value Investing Conference (2017)
PowerPoint Presentation
Watch Video
Ivey Value Investing Classes (2017)
Watch Video
Ivey Value Investing Classes (2010)
PowerPoint Presentation
Watch Video
President and Portfolio Manager, Lorne Steinberg Wealth Management Inc., Montreal, Québec, Canada
Mr. Steinberg founded his firm in 2009. From the outset, the firm has been focused on creating value for clients by responsibly growing their capital while safeguarding their assets. The research team uses a fundamental approach to investing, and a strong price discipline, with a bias for businesses that meet strict financial criteria. Prior to founding the firm, he was President and Chief Investment Officer of AGF’s investment counsel business in Montreal, Magna Vista Investment Management Ltd., which he joined in 1999. Before Magna Vista he spent 10 years at Lafferty, Harwood and Partners, where he began as a research analyst and was later responsible for the fixed income desk. Lorne received his MBA from the Wharton School of the University of Pennsylvania and his BA from McGill University. He has been a Chartered Financial Analyst (CFA) charterholder since 1996.
For more on Lorne Steinberg Wealth Management Inc., see https://steinbergwealth.com
Seminar on Value Investing and the Search for Value (2024)
PowerPoint Presentation
Watch Video
General Partner, Greenlea Lane Capital Partners, LP, New York, NY, USA
Mr. Tarasoff is the general partner of Greenlea Lane Capital Partners, LP, a private investment partnership he founded in 2006. Josh graduated from Duke University in 2001 with a degree in philosophy. He has worked at Goldman Sachs and holds an MBA from Columbia Business School.
Past Presentations
Seminar on Value Investing and the Search for Value (2017)
Video Not Available
Executive Vice-President and Senior Portfolio Manager, Howson Tattersall, Toronto, ON, Canada
Mr. Tattersall is Executive Vice-President and Senior Portfolio Manager of Howson Tattersall. He holds an M.A. from St. John’s College, Cambridge (1969) and an MBA from Ohio State University (1971). Bob earned the Chartered Financial Analyst designation in 1977 and is a recognized expert on small cap stocks in Canada. Over an investment career spanning over thirty years, he has been a senior research analyst and a portfolio manager. He has lectured on investments for pension funds at Humber College and has written numerous articles for professional journals. Bob joined Howson Tattersall in 1985, after a career at Confederation Life and Bolton Tremblay. Bob’s responsibilities include Canadian small cap equities as well as international equities.
Past Presentations
Ivey Value Investing Classes (2010)
Watch Video
Ivey Value Investing Classes (2008)
Watch Video
Founder and President, Templeton & Phillips Capital Management, LLC, Chattanooga, TN, USA
Ms. Templeton is the founder and president of Templeton & Phillips Capital Management, LLC; a value investing boutique located in Chattanooga, Tennessee. The company is the general partner to the Global Maximum Pessimism Fund. Ms. Templeton received a B.A. in Economics from the University of the South. She is the founder and former president of the Southeastern Hedge Fund Association, Inc. based in Atlanta, Georgia. Ms. Templeton currently serves the on the Board of Trustees at the Baylor School, Board of Advisors for The Beacon Center of Tennessee and the Atlas Board of Overseers. She is also an active member of Rotary International. She serves on the investment committee of Chattanooga Rotary Club 103 and the investment committee of The Rotary Foundation. Additionally, Ms. Templeton has been a member of the Board of Directors of the Memorial Hospital Foundation, a member of the Finance Advisory Board of the University of Tennessee Chattanooga, and also served on the Chattanooga Area Chamber of Commerce Board of Directors. Lauren is the great niece of Sir John M. Templeton and is a current member of the John M. Templeton Foundation. The John Templeton Foundation was established in 1987 by renowned international investor, Sir John Templeton. Lauren began her career working with managed portfolios and investments in 1998, beginning as a junior associate at the financial advisor Homrich and Berg and later the hedge fund management company New Providence Advisors both of Atlanta. In 2001, Lauren launched her own hedge fund management company which dedicates its efforts to the practice of value investing across the global markets using the same methods learned from her great-uncle, Sir John Templeton. Ms. Templeton is also the co-author of, Investing the Templeton Way: The Market Beating Strategies of Value Investing Legendary Bargain Hunter, 2007, McGraw Hill, which has been translated into nine languages. Lauren lives in Chattanooga, with her husband, Scott Phillips, who is a portfolio manager of the Global Maximum Pessimism Fund and author of the investing book, Buying at the Point Maximum Pessimism: Six Value Investing Trends from China to Oil to Agriculture,2010, FT Press, and co-author to the revised edition of The Templeton Touch, 2012, Templeton Press.
Past Presentations
Ivey Value Investing Classes (2016)
PowerPoint Presentation
Watch Video
Value Investing Conference (2012)
Watch Video
Chief Executive Officer & Co-Chief Investment Officer, Century Management, Austin, TX, USA
Mr. Van Den Berg began his investing career in 1968, at the start of what turned out to be the worst bear market since the Great Depression. While selling mutual funds in the declining market, Arnold became concerned for his clients and noticed that some money managers seemed to suffer fewer losses. He embarked on an exhaustive study, discovering that those who practiced the value investing style pioneered by Benjamin Graham protected their client’s capital better and provided more consistent results. While the consensus opinion was to avoid stocks at the bottom of the bear market in 1974, Arnold became convinced of the many great values that were available. He founded Century Management at this time and made Value Investing the cornerstone of Century’s practice. Today, he serves as the company's CEO and Co-Chief Investment Officer. Arnold has been profiled in the books The Great Minds of Investing and The World's 99 Greatest Investors: The Secret of Success. He has also been interviewed by many media outlets including: Outstanding Investor Digest, The Wall Street Journal, Outlook Profit Magazine (India), Money Manager Review, Graham and Doddsville and GuruFocus.com. Arnold has no formal education beyond high school. His rigorous self-study, dedication, and 48 years of industry experience form the foundation of his market knowledge. For over 25 years Arnold has worked side-by-side with son Scott Van Den Berg (Co-Portfolio Manager) and son-in-law Jim Brilliant (Co-Chief Investment Officer and Portfolio Manager). Arnold frequently speaks to middle and high school students about the lessons he learned as a Holocaust survivor. He lives in Austin, Texas with his wife Eileen. They have three children and seven grandchildren.
For more on Century Management, see https://centman.com/
Read Mr. Van Den Berg's Past Interviews:
Interview 1
Interview 2
Past Presentations
Ivey Value Investing Classes (2020)
View PowerPoint Presentation
Watch Video
Presentation's Supplementary PDFs:
Supplementary PDF 1 - Books
Supplementary PDF 2 - Discipline & Emotions
Supplementary PDF 3 - Quotes
Value Investing Conference (2017)
View PowerPoint Presentation
Watch Video
Chairman and CEO, Fairfax Financial Holdings Ltd., Toronto, ON, Canada
Mr. Watsa is the Chairman and Chief Executive Officer of Fairfax Financial Holdings Ltd., a financial services holding company, which he took over in 1985. The company, through its subsidiaries, is engaged in property and casualty insurance and reinsurance, as well as investment management. Mr. Watsa is a Chartered Financial Analyst, a graduate of the prestigious Indian Institute of Technology with a degree in Chemical Engineering and a holder of an MBA from the Richard Ivey School of Business of the University of Western Ontario. He is a member of the Board of Trustees of the Hospital for Sick Children, a member of the Advisory Board for the Richard Ivey School of Business and a member of the Board of Directors of the Royal Ontario Museum Foundation, as well as Chairman of the Investment Committee of St. Paul’s Anglican Church. Fairfax has been one of the few companies to escape the ravages of the great recession of 2008 as Mr. Watsa and his team had anticipated the credit crisis and had taken the necessary steps to protect Fairfax. Mr. Watsa, also known as the Buffett of the North, had discussed his fears about the markets in a key note speech he gave to The Ben Graham Center of Value Investing First Annual Symposium on Value Investing on May 25, 2007.
Past Presentations
Ivey Value Investing Classes (2011)
Watch Video
1st Symposium on Intelligent Investing (2007)
Watch Video
Founder and Chairman, Third Avenue Management LLC, New York, NY, USA
Mr. Whitman has proven for more than 50 years that active, opportunistic investors can find under-priced securities in companies with strong balance sheets. He is also an adept control investor who has led the rehabilitations of Nabors Industries and Covanta Energy among others. In 2013 he received the Harvey R. Miller Outstanding Achievement Award for Service to the Restructuring Industry. In 1990, he was named Morningstar’s Mutual Fund Manager of the Year. After serving in the Navy during World War II and then attending college on the G.I. Bill, Mr. Whitman joined the ranks of Wall Street as an analyst at Shearson Hammill & Co. The Street’s simplistic analysis and focus on short term earnings was not for him. When he encountered a timber company rich with assets but with no visible earnings power he realized there was a better way. Later, while working at the family office of William Rosenwald, son of a founder of Sears Roebuck, he developed a risk aversion commensurate with the responsibility of managing another family’s legacy. His ability to find safety through the careful study of assets enabled him later to venture where other investors wouldn’t, like the bankrupt Penn Central railroad or troubled utilities like Consumers Power Co. of Michigan and the Public Service Company of New Hampshire. Mr. Whitman founded the predecessor to the Third Avenue Funds in 1986 and affiliated broker-dealer, M.J. Whitman, in 1974. He managed the flagship Third Avenue Value Fund since inception in 1990 through March 1, 2012. He was Third Avenue’s Chief Investment Officer from its founding through January 2010. For over 30 years, Mr. Whitman was a Distinguished Management Fellow at the Yale School of Management. He is also an honorary trustee at Syracuse University, his undergraduate alma mater and home to the Whitman School of Management. He is the author of The Aggressive Conservative Investor, Value Investing – A Balanced Approach, Distress Investing: Principles and Technique and, most recently, Modern Security Analysis: Understanding Wall Street Fundamentals, which he views as a modern successor text to the work of Benjamin Graham and David Dodd. He holds a master’s degree in Economics from The New School for Social Research and is a magna cum laude Syracuse graduate. Mr. Whitman is a board member at Tel Aviv University’s Institute for National Security Studies.
Past Presentations
Ivey Value Investing Classes (2016)
Watch Video
Ivey Value Investing Classes (2007)
Watch Video
Managing Director, Wintergreen Advisers, LLC, Milwaukee, WI, USA
Mr. Winters, the managing director of Wintergreen Advisers, LLC, is primarily responsible for the management of the Fund's portfolio, and has responsibility for the day-to-day management of the Fund.
Prior to forming Wintergreen Advisers in May 2005, Mr. Winters held various positions with Franklin Mutual Advisers, LLC, including, president, chief executive officer and chief investment officer. Mr. Winters led the Mutual Series group of global and domestic equity value funds and served as the chief investment officer of Franklin Mutual Advisers, LLC with assets under management in excess of $35 billion as of March 31, 2005. Mr. Winters also served as the portfolio manager of the Mutual Discovery Fund during the period beginning February 1, 2000 through May 10, 2005, and other client accounts managed in a similar investment style. Mr. Winters had been a member of the management team of the Mutual Series since 1987. He was named director of research in 2000, and was promoted to president and chief investment officer in 2001.
Past Presentations
Ivey Value Investing Classes (2010)
PowerPoint Presentation
Watch Video