About the Speaker

Individual Investors have advantage over institutional investors that can provide significant excess returns. They can go into corners of the market that are far less efficient than larger stocks, buy smaller companies that large institutions can, and they have no institutional mandate or shareholders and outside investors looking over their shoulder questioning every move. The corner of the market referred to as Deep Value is as cheap as it has ever been during my 40-year career. If you are running billions of dollars, deep value investing does not work for you most of the time. Individual investors do not need to sell a million shares in the blink of an eye. They can own smaller companies and unpopular yet profitable businesses that are mispriced. For individual investors, the combining valuation and credit analysis works consistently and can deliver market crushing returns. While we hear much talk of how value investing does not work, the truth is that it works just fine—it just does not scale.