Top Stock Picker on the Hunt for Value

A Barron’s article from July outlines an interview with Charles De Vaulx of International Value Advisers (IVA) in which the fund manager offers insights on various topics related to the markets. According to the article, the firm “won’t buy anything that isn’t at a big discount to intrinsic value” and “have lately struggled to find attractive investments.” De Vaulx noted that the market is exhibiting two “intriguing phenomena.” The labor markets have tightened but without… Read More

IVA’s Charles de Vaulx on Global Economy, Markets, and Value Investing

Barron’s recently reprinted the transcript of value investor Charles de Vaulx’s recent conference call with financial advisors. De Vaulx is chief investment officer of International Value Advisers (IVA). The call focused on recent market and economic changes, the firm’s performance (including its Worldwide and International portfolios), why IVA is holding cash, and why it has added to its gold holdings.  De Vaulx maintained that “value investing – if executed properly – is more relevant than… Read More

Top Strategist Sees Value in Cash

While stocks have been hitting all-time highs, top value fund manager Charles de Vaulx thinks there’s value in cash right now. De Vaulx’s IVA Worldwide Fund trimmed its stock holdings to 52% of its portfolio at the end of May, and boosted its cash holdings close to 30%, according to The Wall Street Journal. After the market stumbled a bit in June, de Vaulx did some equity buying, but still has about a quarter of… Read More

Top Managers Look To Unloved Japanese Stocks

While Japanese stocks have for years has yielded little for investors, some top value investors are keen on the country. In a column for SmartMoney, Brett Arends writes that Japan’s “stock market is cheap. Possibly very cheap — at a time when nearly everything else looks pricey. The Nikkei 225, Japan’s major stock market index, trades at just 10 times forecast earnings. The dividend yield is up to 2.3 percent — a hefty amount in… Read More

De Vaulx Likes Japanese & European Firms

Top value investor Charles de Vaulx is high on Japanese stocks and stocks of European companies with global exposure. De Vaulx tells Bloomberg that there are a lot of strong European firms that are “not that Euro-centric”. He also discusses why he’s putting a lot of his money into France, and why he thinks the European debt crisis is at its core a banking problem rather than a sovereign problem. [youtube=]

De Vaulx Likes Oil & Gas, Japan

Top value investor Charles De Vaulx has been cutting back on gold holdings and is high on oil and gas stocks and Japanese equities. De Vaulx tells Bloomberg that with cash yielding very little, bond yields low, and gold having gone “parabolic” over the summer, stocks of good companies with solid dividends look like attractive options right now. He’s still hesitant about Europe, where he says quality stocks haven’t come down enough in price to… Read More

Herro, de Vaulx Still Like Japan

A pair of top fund managers say the deadly earthquake in Japan isn’t shaking their bullishness on Japanese stocks. “Our view on Japan is still the same,” David Herro, one of Morningstar’s fund managers of the decade, told Bloomberg. “When you look at the valuation of Japanese companies, if you look at what’s happening with Japanese managements in terms of improving operating efficiency, we’re still excited about the Japanese equity market.” Another top value manager,… Read More

Opportunity in Japan?

Top value manager Charles de Vaulx continues to see opportunity in one of the world’s most unloved markets: Japan. “Japan is by far one of the cheapest markets in the world,“ de Vaulx tells The New York Times. “It’s so universally hated, yet it might be one of the world’s best-performing markets over the next five years.” De Vaulx, who has about 15% of his assets under management in Japan and is considering adding to… Read More

Look to Japan, Say Two Top Value Managers

Japan continues to deal with economic problems and a stagnant stock market, but top-performing fund manager David Herro says it’s time to buy Japanese equities. “People hate Japan,” Herro told Bloomberg. But he says the negativity has driven prices down to very attractive levels. “At these prices,” he says, “Japanese stocks are a steal.” Bloomberg reports that 24% of Herro’s equity holdings are now in Japanese firms. Herro isn’t alone in his optimism on Japan.… Read More

De Vaulx Talks Economy, Wal-Mart, and Margins of Safety

Top value manager Charles De Vaulx recently discussed some areas of the market he’s high on in an interview on Bloomberg Television. De Vaulx says he’s cautious about the current environment, and talks about some of the key economic factors he’ll be keeping an eye on in 2011, including interest rates. He also discusses how Benjamin Graham’s “margin of safety” concept plays into his investment strategy. [youtube=]