Event Details
April 8, 2014, 7:45 a.m.-4:30 p.m.
Location: Fairmont Royal York, Toronto
Speakers:
Amity Shlaes, Director of the George W. Bush Institute’s Economic Growth Project, Columnist and Author, New York, New York
Wilbur Ross, CEO & Chairman, WL Ross & Co. LLC, New York, New York
Mohnish Pabrai, Managing Partner, Pabrai Investment Funds, Irvine, California
Irwin A. Michael, MBA, CFA, I. A. Michael Investment Counsel Ltd., Toronto, Ontario
Richard H. Lawrence, Jr., CFA, Chairman and Executive Director, Overlook Investments
James B. Rosenwald III, CFA, Co-Chair, Management Committee, & Senior Portfolio Manager (Asian Equities), Dalton Investments LLC
Srinivas Pulavarti, President & Chief Investment Officer, UCLA Investment Company, Los Angeles, California
George Chryssikos, CEO/Chairman of Investment Committee, Eurobank Properties REIC
Murray Edwards, CEO, Canadian Natural Resources, Calgary, Alberta
Bruce Flatt, Senior Managing Partner and CEO, Brookfield Asset Management Inc., Toronto, Ontario
REGISTRATION CLOSED
About the Event
Stock picking, following the value investing process and carried out with the right temperament, works!
However, it is a commonly held misconception that all value investors do is sort stocks by P/E and invest in those with low P/E. But considering low P/E stocks is only part of the value investing process. This is because, on average, about 39 per cent of all low P/E stocks have a negative return for the 12 months following their selection. How do value investors separate the good low P/E stocks from the bad ones? They do so by valuing each low P/E stock to determine its intrinsic value and only invest in the stocks that afford them a satisfactory “margin of safety” – these are the good low P/E stocks. But this is not easy to do for the average investor and, even for professionals, it is a very time consuming exercise. Is it possible to identify the good low P/E stocks (i.e., the truly undervalued ones) without having to go through the time consuming estimation of each stock’s intrinsic value? Is there an additional screening, after the low P/E stocks have been chosen, which will enable an investor to identify the low P/E stocks worth investing in without having to go through the time consuming estimation of each stock’s intrinsic value? The answer based on Ivey Professor George Athanassakos’ research is a resounding yes!
If you want to find out more about this research, and/or you’re intrigued by value investing, join Athanassakos – Canada’s most sought after value investing expert – and a number of high-profile value investors and corporate executives at The Ben Graham Centre’s 2014 Value Investing Conference.