Value Invest

Event 2015

Howard Marks

Howard Marks, Oaktree Capital

Since the formation of Oaktree in 1995, Mr. Marks has been responsible for ensuring the firm’s adherence to its core investment philosophy; communicating closely with clients concerning products and strategies; and contributing his experience to big-picture decisions relating to investments and corporate direction.  From 1985 until 1995, Mr. Marks led the groups at The TCW Group, Inc. that were responsible for investments in distressed debt, high yield bonds, and convertible securities. He was also Chief Investment Officer for Domestic Fixed Income at TCW. Previously, Mr. Marks was with Citicorp Investment Management for 16 years, where from 1978 to 1985 he was Vice President and senior portfolio manager in charge of convertible and high yield securities. Between 1969 and 1978, he was an equity research analyst and, subsequently, Citicorp’s Director of Research. Mr. Marks holds a B.S.Ec. degree cum laude from the Wharton School of the University of Pennsylvania with a major in finance and an M.B.A. in accounting and marketing from the Booth School of Business of the University of Chicago, where he received the George Hay Brown Prize.  He is a CFA® charterholder.  Mr. Marks is a member of the Investment Committees of the Metropolitan Museum of Art and the Edmund J. Safra Foundation; a Trustee of the Metropolitan Museum; Chairman of the Board of Trustees of the Royal Drawing School; and an Emeritus Trustee of the University of Pennsylvania (where from 2000 to 2010 he the chaired Investment Board).

Jean-Marie Eveillard

Jean-Marie Eveillard, First Eagle

Jean-Marie became a senior adviser to the First Eagle Investment Management Global Value team in March 2009 and now serves as board trustee to First Eagle Funds. From 1993–2004, Jean-Marie was the lead portfolio manager for all of First Eagle Investment Management Global Value investment strategies. He left these duties on December 31, 2004 but continued to serve as a senior adviser to the Global Value team, and returned as lead portfolio manager and head of the team in 2007 until Matt McLennan became head of the team in September 2008. Jean-Marie started his career in 1962 with Société Générale before relocating to the United States in 1968. Two years later, Jean-Marie began as an analyst with the SoGen International Fund. In 1979, he was appointed portfolio manager of the SoGen International Fund, later named the First Eagle Global Fund. Jean-Marie was named Morningstar’s International Manager of the Year in 2001, and in 2003 received a Lifetime Achievement Award from Morningstar for building one of the most successful long-term records in the investment business. Jean-Marie is a graduate of Écoles des Hautes Études Commerciales, a French graduate school for economic studies.

James Montier

James Montier, GMO

James is a member of GMO’s Asset Allocation team. Prior to joining GMO in 2009, he was co-head of Global Strategy at Société Générale. James is the author of several books including “Behavioural Investing: A Practitioner’s Guide to Applying Behavioural Finance; Value Investing: Tools and Techniques for Intelligent Investment”; and “The Little Book of Behavioural Investing.” James is a visiting fellow at the University of Durham and a fellow of the Royal Society of Arts. He holds a B.A. in Economics from Portsmouth University and an M.Sc. in Economics from Warwick University.

 
 
 
 
 
 
 

Anne-Mette de Place Filippini

Anne-Mette De Place Filippini, Burgundy Asset Management

Anne-Mette has more than 20 years of experience in the investment industry. She joined Burgundy in June 2008 as Vice President and Portfolio Manager for Emerging Market equities, and was appointed a Senior Vice President of the firm in July 2012. Before joining Burgundy, Anne-Mette spent eight years with AIC Investment Services Inc. where she was a Senior Vice President and Portfolio Manager. Prior to AIC, Anne-Mette was five years at Monitor Group, a leading global strategy consulting firm. She worked closely with top management of large companies, across many industries and countries, on developing and implementing business strategies, including M&A advice. Anne-Mette began her career in 1992 with Braxton Associates, the strategy consulting group of Deloitte & Touche in London, England. Anne-Mette received her Masters degree in Economics in 1992 from the University of Copenhagen. Part of her Masters degree was earned at the London School of Economics. Anne-Mette is currently a Director of the National Ballet School Foundation. In 2006, she received the Arbor Award from the University of Toronto for outstanding volunteer

Marc Saint John Webb

Marc Saint John Webb – Quaero Capital

Marc Saint John Webb is a partner of Quaero Capital in Geneva, where he has co-managed The Argonaut Fund with Philip Best since 2006. Marc also began his career within the S.G. Warburg group at French broker Bacot-Allain in 1987. During his time as a European small cap specialist in Paris Marc became a qualified investment analyst with the French Analysts’ Association (SFAF), and followed this up with an Executive Program at INSEAD. The two share a very European background and an intellectual curiosity that leads them to seek out unknown stocks in obscure locations. The team also runs another fund (Quaero Family Enterprise), which invests in listed family-owned companies with a similar “value” bias. When not travelling, Marc lives between Paris and Geneva.

Jonathan Mills

Jonathan Mills, Metropolis Capital

Jonathan is one of the two founders of The SF Metropolis Valuefund, a focused portfolio of global equities, applying value disciplines, which draw extensively from the founders’ experience of private company buy-outs. Before running the fund, Jonathan founded Metropolis International Group in 1994 prior to which he worked for Bain & Company as a strategy consultant and then for Schroders in Corporate Finance and M&A. Using a conservative valuation for Metropolis International Group today, the original investors have returned 30% per annum. Jonathan graduated from Oxford University with a First Class Degree in Philosophy, Politics and Economics.

Philip Best

Philip Best – Quaero Capital

Philip Best is a founder of Quaero Capital in Geneva, where he launched The Argonaut Fund in 2003. The fund specializes in seeking out stocks across Europe that are little-known and poorly followed because of being too small to interest mainstream investors. Using a strong value-driven philosophy the team aims to identify stocks in the small/micro-cap category that have been mis-priced by the market because of their illiquidity and that stand at a significant discount to intrinsic value. Over the ten years since launch the fund has given an annualized return of 13.8% with volatility of 16.5%- substantially lower than large cap over the period. Philip started his career following European small cap stocks at Mercury Asset Management in 1984, later becoming a broker at Enskilda Securities and The Europe Company Ltd, before returning to fund management in 2003.

Dan Abrahams

Dan Abrahams, Alfreton Capital

Daniel Abrahams is the Managing Partner at Alfreton Capital, which advises a private investment fund focused on European equities. Previously, Daniel had been a Partner at Praxient Capital at the launch of that firm’s first fund in 2007. Daniel and team spun out from Praxient to establish Alfreton Capital in March 2015. Earlier in his career, Daniel worked in M&A at Deutsche Bank and began his career at Arthur Andersen. Daniel graduated from the University of Oxford with a First Class degree in Economics and Management and was previously the co-chair of the Value Investing Special Interest Group of the UK CFA Society

 
 

Alex Morozov

Alex Morozov, Morningstar

Alex Morozov, CFA, is the director of European equity research at Morningstar. In this capacity, Morozov leads the team of Europe-based analysts, covering European and global companies across all major sectors of the economy. Prior to his current role, Morozov was a head of the global healthcare equity research team at Morningstar, where he led a team of 10 healthcare analysts, covering more than 150 companies across the healthcare sector worldwide. In addition to being responsible for team stock recommendations, research quality and consistency, as well as analyst development, Morozov has been frequently featured in various media and print media, including CNBC, Reuters, Fox Business and others. He has performed public speaking engagements on healthcare trends at several conferences, including various CFA events. Prior to this position, Morozov served as senior equity analyst, covering medical instruments, life sciences, and diagnostics industries. Before joining Morningstar in May 2006, he worked in the insurance industry.

David Shapiro

David Shapiro, Towers Watson

David is the Portfolio Manager for the Global Equity Focus Fund at Towers Watson and Director of the Equity Research team. Alongside his portfolio management responsibilities David provides regular research input to a number of clients, including a large UK based investment trust. David joined from Stamford Associates where he was Deputy CIO responsible for devising and implementing investment strategies for a range of its largest investment clients. Prior to Stamford Associates, David established Greentrees Partners LLP as a joint venture with Collins Stewart before which he gained broad investment experience as a UK equity portfolio manager with UBS Global Asset Management (formerly Phillips and Drew) from 1998 and then as a UK equity portfolio manager with Morley Fund Management from 2003. In total David has 20 years of portfolio management and investment analyst experience. David is a member of the Chartered Institute for Securities and Investment (CISI).

Richard Oldfield

Richard Oldfield – Oldfield Partners

Richard Oldfield is Executive Chairman of Oldfield Partners, which he founded in 2005, after 9 years as Chief Executive of a family investment office. Prior to this, he was director of Mercury Asset Management plc, which he joined in 1977. He became Chairman of the Oxford University investment committee and Oxford University Endowment Management Ltd in January 2007, was Chairman of Keystone Investment Trust plc from 2001 to 2010 and is a director of Witan Investment Trust plc. He is the author of “Simple But Not Easy”, a “slightly autobiographical and heavily biased” book about investing

Sign up for value investor digest

  • “It’s very much the Rolls-Royce of the investor conference market”
    Paul Scott, Stockopedia
  • “Very good event with excellent quality of speakers. Well done!”
    Andrew Hardy, Momentum GIM
  • “Please make this an annual event, thought it was brilliant, learnt lots and the topics were well diversified. Very interesting day. Thank you”
    Mary Allen, Rothschild
  • “Very well organised and it was a treat for investors like us to hear some great speakers”
    Roli Saxena, Drona Capital
  • “A fantastic conference with lots of superb speakers and interesting discussions- well done!”
    Paul McNulty, Setanta Asset Management
  • “Great conference overall. Hard to complain – good job”
    Travis Moss, JP Morgan