Zeke Ashton is the Founder and Managing Partner of Centaur Capital Partners. CCP is the advisor to the Centaur Value Fund, a long/short private investment partnership founded in 2002. Mr. Ashton is also the portfolio manager of the Centaur Total Return Fund (ticker TILDX), a retail mutual fund that follows an income-oriented equity strategy.
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Many value investors have given up on their strategy over the last 15 years amid concerns that value investing no longer worked. However, some made small adjustments to their strategy but remained value investors to the core. Now all of the value investors who held fast to their investment philosophy are being rewarded as value Read More
Zeke Ashton spoke at the 9th Annual Value Investing Congress, also see Tesla Motors Inc (TSLA): Buy On The Pullback?. Below are notes from his presentation.
Highlights from Zeke Ashton’s presentation
Founded in 2002. L/S value fund. And public mutual fund Centaur Total Return Fund (MUTF:TILDX) in 2005.
Idea: buy Bayerische Motoren Werke AG (ETR:BMW3) (FRA:BMW3) preferred at 25% discount to common ticker bmw3
BMW common 11pe with 2.8 percent yield.
3.9 percent yield
Non voting shares
Common could be worth 98-112 euro.
In the excellent presentation he contrasted valuation of Tesla Motors Inc (NASDAQ:TSLA) with BMW. BMW is coming with 45k electric cars. 2 years ahead of Tesla in that price range. Has a partner in China for different branded Chinese EV. Has 6000 car dealerships. Has spent $100 billion in capex over a decade and $40 billion in research n development.
This is a family controlled business. Non promotional.