Jean-Marie Eveillard was recently interviewed on Bloomberg. Eveillard is one of the best global value investors today. He is the senior investment advisor to First Eagle Funds. The fund family has a spectacular long term track record. It is always interesting to hear him speak due to his decades of experience in value investing.
Here are the highlights:
Eveillard sees emerging markets as the best place for growth.
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He questions whether the economic recovery can be sustained.
He thinks we are in a new era(of slow economic growth) but it is impossible to be sure.
He sees a lot of value in Japan.
He likes Kansai paint a Japanese company that produces a lot of it’s revenue in emerging markets.
Eveilard also likes Pargesa, a holding company which holds a lot of undervalued diversified companies.
He likes Vulcan material an American company which has a lot of good assets.
He is about to go to China to see if there are any companies that are attractive. He prefers stocks trading on the Hong Kong exchange over the Shanghai exchange.
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