ValueWalk's Raul Panganiban interviews Mitchell Kovitz, Founder and Principal of Kovitz Investment Group, and with Joel Hirsh, Principal and Portfolio Manager at Kovitz Investment Group. In this part Mitchell and Joel discuss how they define their best ideas, their investment mentors, favorite books, how Alexander Hamilton contributed to the country post revolution, if good health helps with investing, and allocating time just for thinking.
Q2 hedge fund letters, conference, scoops etc
- See part 1 here.
- See part 2 here.
- See part 3 here.
And then how do you position your best ideas?
So it’s an interesting question, in terms of how would you define our best ideas. Our biggest positions are the ones we’re most sure of. You know, the ones with the most upside are not always the ones that you’re the most sure of. And when I say most sure of, I mean truly that you’ve stress tested it, that the odds of losing money over five years is very low. So generally our largest positions are the ones that we think have the widest margins of safety. And if you were looking for the ones that have the most upside, they can be sprinkled throughout the portfolio really depending on quality of the business and price, yeah, and total exposure just in that area.
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