David Neuhauser founded Livermore Partners, an opportunistic value-oriented hedge fund whose focus is in energy, industrials, and financials. Livermore works with the firm’s portfolio management teams to unlock value and realize strong returns. Prior to this, he worked with financier Leon Greenblatt III in a activist/risk arbitrage hedge fund.
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David Neuhauser spoke at the 9th Annual Value Investing Congress, also see First Pacific Advisors Buys Alcoa Inc, Cuts Lowe’s, Increases Qualcomm. Below are notes from his presentation.
Highlights from David Neuhauser’s presentation
Ideas:
1. Volt Information Sciences, Inc. (OTCMKTS:VISI)
Accounting issued solved. Still good upside.
2. Occidental Petroleum Corporation (NYSE:OXY)
3. TriOil Resources Limited (CVE:TOL)
David Neuhauser Pacific Rubiales Energy
Lisa Rapuano
Lisa Rapuano founded Lane Five Capital Management in 2007. Lane Five runs a long-biased, concentrated valuation-driven investment partnership to buy significantly undervalued securities of businesses it believes can create long-term value for shareholders and to hold them for many years.
Lisa Rapuano spoke at the 9th Annual Value Investing Congress, also see Markel Corporation (MKL): Generating High Intrinsic Value Since 1986. Below are notes from his presentation.
Highlights from Lisa Rapuano’s presentation
Talks about temperament.
Her firms’ edge is their probabilistic outcomes approach.
Her 3 categories of stocks are:
– Compounders a la Russo
– Contrarian
– Activist
Idea 1: Markel Corporation (NYSE:MKL) is a compounder at 1.25x book.
Idea 2. Bed Bath & Beyond Inc. (NASDAQ:BBBY) $68.5.
Net cash. Buybacks. Does not believe Amazon.com, Inc. (NASDAQ:AMZN) will hurt them. Aggressive with pricing. Two acquisitions are growth engines.
