Isaac Schwartz is a Portfolio Manager for Robotti & Company Advisors LLC, an investment adviser that seeks to invest in companies trading at a significant discount to intrinsic value. In 2005, Mr. Schwartz launched the Robotti Global Fund, to apply fundamental investing in overseas markets.
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Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
Isaac Schwartz spoke at the 9th Annual Value Investing Congress, also see Emerging Markets: Waiting On Exports. Below are notes from his presentation.
Highlights from Isaac Schwartz’s presentation
Idea: Tarkett SA (EPA:TKTT)
Family business has 130 year history
Smart CAO allocation
Valuable business in Europe and emerging markets
Last fall went public at 29 euro
1.6B euro market cap
2.1B enterprise value
Decorninck family 50%
KKR & Co. L.P. (NYSE:KKR) 20% stake
Russian growth will continue
Lots of old houses there
Scale brand built over decade
North American market will recover