Value Investing According to Browne
Those of you have read anything or even, possibly, everything written about Warren Buffett, you would know that he has said many flattering things about Charles Browne and Forrest Tweedy and the brokerage-come-funds-management firm they founded Tweedy Browne LLC.
From their website; The Firm’s 93-year history is grounded in undervalued securities, first as a market maker, then as an investor and investment advisor. The Firm’s investment approach derives from the work of the late Benjamin Graham, co author of the first textbook on investment research, Security Analysis (1934) and author of The Intelligent Investor (1949). Graham, through his investment firm Graham-Newman Corp., was one of the Firm’s primary brokerage clients in the 1930s, 1940s, and 1950s. It was through Graham that the original partners of the Firm developed brokerage relationships with investment legends Walter Schloss and Warren Buffett, and met Tom Knapp, who joined the Firm in 1957 from Graham-Newman and led its conversion from broker to investor.
In this half hour video (followed by an hour of very interesting Q & A), managing director William H Browne discusses his very successful brand of Value Investing to the Ivey Business School
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Neeraj Isukapally
:
Roger – Do you know of any value investors beside yourself in Australia?
Roger Montgomery
:
Yes, there are many. Some very good and some that rank at the very bottom of the Mercer and Morningstar rankings…
Malcolm Cavill
:
Great clip Roger. They say ‘you are what you eat’… and perhaps also ‘you are what you post’? I think his emphasis on ‘spread’ is a key point. What are your thoughts on fundamental indexing as a benchmark tool as compared to cap weighting? This clip on wealthtrack may be of interest… http://goo.gl/P1dC9V
Roger Montgomery
:
We like it. It’s often referred to as smart beta. Stay tuned on changes in the space…