At the London Value Investor Conference 2025, Jonathan Boyar of Boyar Value Group spoke on the Finding Opportunities in Trophy Assets and Non-Traditional Value panel, where he outlined the firm’s catalyst-driven investment philosophy and discussed his investments in publicly-traded trophy assets such as sports franchises, iconic venues, and platform businesses.
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2025 London Value Investor Conference - Jonathan Boyar
We started in 1975 by my father as a research boutique. We have a unique investment philosophy. We look for catalysts and we are extremely patient. If there are no catalysts for the stock, the cheap stock may stay cheap. That is what my father told me.
What is our edge? We are looking at companies outside indexes that nobody is looking at. Our research is our competitive advantage. Writing research ideas.
There are many value investing strategies.
Boyar notes how the landscape has changed drastically since the 70s, stating:
"When we started the service in the 70s, you know, we found a lot of net-nets. You can't find them anymore. Generally, high quality businesses, they're selling a significant discount to whatever buyer will pay for them. It's simple, but not easy. "
