Value investing is not an investment approach but an investment philosophy, where investors see companies as entities producing cash flows rather than a ticker oscillating on a screen.
Value investing has been around since 1930, when the first principles were articulated by Benjamin Graham. While the world has changed and the purely quantitative approach established in the 1930’s is hard to apply, its philosophy of acquiring companies for less than what they are worth continues to be valid more than ever.
Investing sounds possible and approachable, however it is one of the most difficult activities in the world, as it is not only what you know that matters but how you behave. Behavior and the qualitative components of investing are not taught in classes or explained in books.
The times of today present us an interesting concept. Information is far easier to obtain but distinguishing non-sense from sense has become harder and harder. Today an essential skill is to be able to filter information.
After arriving to Vienna last year, I found an incredible interest in Value Investing from people of all different backgrounds, but could not find any venues where its principles and how to apply them are well taught. Therefore Value Investing College Austria (Vienna) is being created.
Yours runs a family partnership following the Value Investing Philosophy for more than five years and would love to share the leanings of this hard, challenging but extremely interesting journey, on which you realize, every day again, how little you really know. The idea is to welcome mistakes but not make the same ones twice and be in constant evolution.
If you are interested in Value Investing you are very welcome to join. The idea is to create a small group, where I can teach what is not seen in academia and organize events where this philosophy can be brought to Vienna. In addition, experienced investors are totally welcome to help me bring more diversity to the teaching, so get in touch too.
Sessions and topics will be announced periodically.