#MICUS: Value Managers Say Their Style Is Far From Over

Jacob Wolinsky

Published onSeptember 17, 2020

Note of Chuck Bath, David Wallack, and Ramona Persaud's presentation from the 2020 Morningstar Investment Conference.

Q2 2020 hedge fund letters, conferences and more

Dead Again? Value Managers Say Their Style Is Far From Over

For more than a decade, large value has been one of the most difficult factors to own. Moderator Linda Abu Mushrefov of Morningstar asks if clients should continue to stick it out to Chuck Bath of Diamond Hill Capital Management, Ramona Persaud of Fidelity Investments, and David Wallack of T. Rowe Price.

David Wallack

approach hasn’t change
Understand the intrinsic value -> discounted value of all future profits
Role is to find companies trading at those discounts
Low price is best catalyst for realizing value
Low price makes management and boards...

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Jacob Wolinsky

Jacob Wolinsky is the ex-Founder of Valuewalk.com (founded 2011, sold 2023). He is founder of HedgeFundAlpha (formerly ValueWalk Premium), a hedge fund focused intelligence service for institutional investors. Prior to founding Valuewalk, Jacob covered small caps, worked recruiting members for a large hedge fund community and freelance financial journalism. Jacob lives with his wife and five kids in Passaic Park NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal ID. Other methods of secure communication are also available. FD: Most of my portfolio is in I mostly purchase broad-based ETFs, mutual funds or individual bonds - I do this for performance reasons and to avoid any potential conflict of interest or occasional receipt of insider information. I will disclose if I have a stake in any company, but in general I have few stocks and I avoid any trading especially around topics I am covering.

#MICUS: Value Managers Say Their Style Is Far From Over

Dead Again? Value Managers Say Their Style Is Far From Over

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