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Guest Speakers – Value Investing Classes and Seminars

The value investing skills taught in the program are enhanced from the presentations that leading value investors  make in the classes. The speaker series is an integral part of the program and allows students the opportunity to see value investors in action. Practitioners’ involvement in the program is organized in two parts. The first part covers the investors’ basic approach to value investing and a discussion of their style. The second part involves practitioners taking students through actual investment decisions, including decisions to purchase securities, how large a position to take, and decisions not to purchase securities. At the end of the second part, time is allowed for open-ended student questions.

2018/2019 Guest Speakers

President, Lountzis Asset Management, LLC, Wyomissing, PA (March 14, 2019 -- Ivey Value Investing Classes, Room 1100, 6:20pm - 8:00pm)

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.

Chairman and Chief Executive Officer, Stacey Muirhead Capital Management, Waterloo, ON (July 20, 2018 -- Seminar on Value Investing and the Search for Value)

Jeffrey Stacey is the founder of Stacey Muirhead Capital Management Ltd. Jeff has almost 30 years of investment industry experience. Prior to starting Stacey Muirhead Capital Management Ltd., he was employed with a boutique Toronto investment firm where he was also a shareholder. Jeff has an Honours Bachelor of Business Administration degree from Wilfrid Laurier University and is a Chartered Financial Analyst. He is a member of the Finance and Investment Committee and an Advisory Board Member of the student managed School of Accounting and Finance Investment Fund at the University of Waterloo. He is also an Advisory Board Member of the student managed Ivey Value Fund at the University of Western Ontario. Additionally, he serves as a member of the Dean’s Advisory Council at the Wilfrid Laurier University School of Business and Economics and on the Board of Trustees at Parkminster United Church. He is a former director of Rainmaker Entertainment Inc. and previously served on the Board of Trustees and Investment Management Committee at the University of Guelph.

President and CEO, PenderFund Capital Management Ltd., Vancouver, BC (July 17, 2018 -- Seminar on Value Investing and the Search for Value)

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.

Chairman and CEO, Fairfax Financial Holdings Ltd., Toronto, ON (April 26, 2018 -- Fairfax Annual Meeting of Shareholders at Roy Thompson Hall)

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 Thursday, April 26, 2018 at 9:30 a.m. in Toronto, Ontario. 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.

RussoPartner, Gardner Russo & Gardner, Lancaster, PA (March 15, 2018 -- Ivey Value Investing Classes, Room 1100, 6:20pm - 8:00pm)

Mr. Russo is a partner at Gardner Russo & Gardner, which he joined in 1989. Eugene Gardner, Thomas Russo and Eugene Gardner, Jr., as partners, each manage individual separate accounts and share investment approaches and strategies. Mr. Russo oversees $4 billion through separately managed accounts and partnerships. Mr. Russo’s investment approach is one of an absolute return rather than a relative return, and he continues his long-term investment objective of compounding assets between 10 and 20 percent per year without great turnover. Mr. Russo is also General Partner of Semper Vic Partners, L.P., and Semper Vic Partners (Q.P.), L.P., limited partnerships whose combined investments exceed $1 billion, along with overseeing substantially more funds through separate accounts for individuals, trusts, and endowments. He is a graduate of Dartmouth College (B.A., 1977), and Stanford Business and Law Schools (JD/MBA, 1984) and member of the California Bar Association and Board of Visitors for Stanford Law School. Mr. Russo is also a charter member of the Advisory Board for the Heilbrunn Center for Graham & Dodd Investing at Columbia Business School and a member of Dartmouth College’s President’s Leadership Council.

President & Portfolio Manager, Foyston Gordon & Payne Inc., Toronto, ON (March 1, 2018 -- Ivey Value Investing Classes, Room 1100, 5:45pm - 7:00pm)

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.

Co-Founder & Managing Partner, 3G Capital Management LLC., Toronto, ON (February 1, 2018 -- Ivey Value Investing Classes, Room 1100, 6:20pm - 8:00pm)

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.

Past Guest Speakers