The upcoming Value Investing Congress will take place in less than a month in Pasadena on May 3rd and 4th, some of the world’s greatest investors have spoke at previous conferences, including David Einhorn and Bill Ackman. You not only get to hear the speakers, but the conference is specifically limited in seats available to allow interaction between the speakers and yourself. The conference is also a great networking opportunity with other great analysts, fund managers, media and wealthy individuals. I attended the last conference in New York and it was an amazing event. I met many people there who attend the conference year after year.
What makes this the most exciting event of all is that , Charlie Munger will be speaking as usual right after the Congress ends. Charlie Munger is the chairman of Wesco and gives a speech each year at the Wesco shareholder meeting. Wesco is being bought out by Berkshire Hathaway and this will be the last time EVER you will get to hear Charlie Munger speak at the Wesco annual meeting.
It was recently announced that Howard Marks would be speaking at the next Value Investing Congress in Pasadena, CA in May.
Welcome to our latest issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback! Featuring Point72 Asset Management losing about 10% in January, Millennium Management on a hiring spree, and hedge fund industry's assets under management swell to nearly Read More
Howard Marks is an extremely unique value investor. Since 1969, Marks has held various roles as an equity analyst, and senior roles responsible for investing in r investments in distressed debt, high yield bonds, and convertible securities Mr. Marks holds a B.S.Ec. degree cum laude from the Wharton School of the University of Pennsylvania with a major in Finance and an M.B.A. in Accounting and Marketing from the Graduate School of Business of the University of Chicago, where he received the George Hay Brown Prize. He is a CFA charterholder and a Chartered Investment Counselor.
Howard Marks founded Oaktree in 1995, with value oriented investment principles which include; not looking at the macro picture, risk control, and a strong dis-emphasis on market forecasting. Today, Howard Marks’s Okatree manages over $80 billion, making it one of the largest value firms in the country.
Marks true to his past, is not a typical value investor in the sense that he looks for very esoteric securities, in a sense similar to Seth Klarman’s investment style. Oaktree invests a lot of money in high yield debt, converts, distressed debt, “control investing”, real estate, and a tiny percentage of assets in stock. Marks is known for his famous memos, which can be found here.
Marks is coming out with a new book titled;The Most Important Thing: Uncommon Sense for the Thoughtful Investor. The book focuses explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Utilizing passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. I hope to be doing a review of the book shortly.
Warren Buffett had the following comment: “When I see memos from Howard Marks in my mail, they’re the first thing I open and read. I always learn something, and that goes double for his book.” The book also received praise from Joel Greenblatt, Seth Klarman, Jeremy Grantham and John Bogle.
Howard Marks’ speech will likely be the highlight of the next Value Investing Congress.
There is a special deal; Value Walk readers will receive a $300 discount on the Congress. But act soon as the discount expires on midnight PT on Thursday, April 14, 2011. Just follow the link below and use promo code W11VW10. Buy a holiday gift (or rather an investment that will likely yield rewards) for a loved one, friend neighbor or even yourself. But act soon before the huge discount expires: Value Investing Congress promo code- W11VW10
The full line-up as of today includes:
…with many more to come!