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Seminars

The Center for the Advancement of Value Investing Education holds an annual Seminar on Value Investing and the Search for Value.

About the Seminar

  • Competition for¬†portfolio management jobs¬†and¬†alpha (i.e., risk-adjusted excess returns)¬†is¬†fierce
  • Search for¬†value¬†and¬†valuation¬†skills and a¬†deep understanding¬†of¬†what¬†creates¬†value are essential
  • The¬†Seminar provides¬†the¬†skill¬†set and an¬†understanding of value¬†necessary¬†to¬†beat the¬†competition
  • This is done¬†by¬†bridging the¬†gap between theory¬†and¬†practice¬†and¬†hands on training‚Äč

Seminar Description

  • The Seminar explores¬†the underlying principles of value investing and sets¬†guidelines for its successful application
  • The Seminar¬†covers
    • The search for value process, how to find possibly underpriced securities and why such underpricing exists in the financial markets
    • How to determine the intrinsic value of a stock and invest in truly undervalued stocks
    • Alternative methods for constructing a portfolio that controls for risk without restricting investment returns
    • Applications - Valuing and investing in real life companies

Students Learn

  • Simple rules to identify stocks that are possibly undervalued with upside potential
  • To put together simple mechanical strategies to form portfolios that in the long run will outperform the market portfolio
  • How value is created
  • In depth valuation techniques to further narrow down the universe of stocks to those that are truly undervalued with larger upside potential than the stocks identified with the simpler rules mentioned above
  • To use the concept of ‚ÄúMargin of Safety‚ÄĚ to translate market and intrinsic value estimates into actual portfolio choices and limit risk in a way that goes beyond diversification

Seminar Structure

  • The Seminar, which spans¬†five¬†days¬†(and 35 contact hours),¬†consists of¬†two segments
    • The first segment¬†is¬†based on lectures, where the principles underlying the theoretical aspects of value investing¬†are¬†taught
    • The second segment¬†provides¬†an opportunity to apply these principles by working on, discussing and demonstrating their application through a number¬†of¬†valuations of real life companies
  • Break out groups of students work on each valuation exercise during class time for about an hour and a half
  • The class reconvenes¬†for another hour and a half¬†at which time¬†the valuation of each company¬†is¬†discussed and a recommendation of ‚ÄúInvest‚ÄĚ or ‚ÄúNot Invest‚Ä̬†is¬†made

Who Should Attend

  • Undergraduate and Graduate Business Students
  • Portfolio Managers
  • Finance Professionals
  • Finance Executives
  • Individual Investors*

*Please note: Having a basic knowledge in finance and accounting is strongly recommended. A one day tutorial to build the necessary prerequisite knowledge is offered prior to the Seminar.

Contact us at cavieinfo@valueinvestingeducation.com for more information.

Program Leader

Dr. George Athanassakos

  • Professor Athanassakos is a Professor of Finance and the Ben Graham Chair in Value Investing at the Ivey School of Business at Western University
  • He has been ranked among the top 10 researchers in Canada and among the top 10 Canadian professors
  • He has researched extensively the Canadian Capital Markets, Stock and Bond Market Anomalies, and Bond and Equity Valuation Issues both from a Traditional Valuation and Value Investing point of view
  • He is the¬†author of numerous academic¬†research papers¬†and of¬†two books, Derivatives Fundamentals and¬†Equity Valuation
  • He¬†has¬†offered valuation seminars¬†to Canadian and US¬†valuator societies¬†¬†and in¬†Australia,¬†Chile, Colombia,¬†Cyprus,¬†Denmark, France, Finland, Greece, Italy, South Africa and the UK
  • He is recipient of teaching awards - his¬†teaching ratings¬†are¬†among¬†the¬†highest given¬†at the University,¬†irrespective¬†of¬†whether¬†the¬†seminars¬†taught¬†were in Canada or¬†abroad
  • A Globe and Mail article entitled ‚ÄúFace time with the stars: High-profile names help business schools attract the brightest students‚ÄĚ indicated that Dr. George Athanassakos is a draw for students at the Ivey Business School at Western University and includes him in the club of Canadian superstar teachers
  • Click¬†here¬†to read a research paper by Dr. George Athanassakos that details the performance of the investing decision process taught in the Value Investing Seminar

Certificate

Upon completion of the Seminar, participants will receive a Value Investing Certificate

2020 Seminar Dates

July 27-31, 2020. The Seminar is limited to 34 participants, so please register early.

Seminar Location

Downtown Toronto, ON, Canada

2020 Guest Speaker

Mr. Francis Chou, Founder and President, Chou Associates Management Inc., Toronto, ON, Canada will be a guest speaker on July 31, 2020.

Testimonials

"The value investing program that George established and teaches at the Ivey School of Business for the last 5 years is #1 in Canada and at par with Columbia's program which has been in operation for over 70 years. It took us and Ivey some time to fill this position as we wanted to find the right professor with a value perspective, a professor like George, and boy did we luck out with George. He is a fabulous professor and has done an outstanding job teaching and developing value investing, which we are now thinking of expanding globally".

-Prem Watsa
 Chairman and CEO, Fairfax Financial Holdings Ltd.
 From speeches given on February 16, 2011 and April 25, 2012.

"I was very impressed by both the quality and the international representation of the participants in your seminar. You are to be congratulated for all you are doing to advance the craft of value investing."

-Jeffrey D. Stacey
 Chairman and Chief Executive Officer, Stacey Muirhead Capital Management & 2018 Seminar Guest Speaker

Read testimonials from Seminar participants

To read a review of the Seminar in Canadian Business Online click here.

Past Participants

For lists and photos of past participants click here.

Other Offerings

Alternative format and dates are available for groups of over 15 participants.

For more information, contact cavieinfo@valueinvestingeducation.com