Friday, June 21, 2013

Michael Price speaking at the London Value Investor Conference 2013. Met...

 It’s not often that value investors have an opportunity to hear unedited investment advice from someone who has not only assembled a market-beating track record over decades but has also served as mentor to other accomplished value investors, including Seth Klarman, Meryl Witmer, and David Winters. 

Michael F. Price has managed money since 1974 when he joined Mutual Series under Max Heine. Price became partner in 1982 and took over Mutual Series after Heine’s passing in 1988. He amassed a market-beating track record, significantly growing the firm and selling it to Franklin Templeton in 1996.Price’s U.S. equity portfolio, valued at $763 million at the end of Q1 2013, included Alleghany (Y), Citigroup (C), FXCM (FXCM), Hess (HES), Intel (INTC), and McGraw-Hill (MHP) among its largest positions. 

In this speech, Michael Price spoke about portfolio construction and mentioned a few current ideas such as oil and gas company, Hess Corporation (HES) and Hospira (HSP), a manufacturer of generic drugs. He also recommended the book, There is Always Something to Do by Peter Cundhill

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