Drew McIlroy: We have maintained an index sort position, typically against the f t y the spider or the triple cuse the knapsack 100. As we see the valuations of what we own approaching sort of fair price or fuller price, we can effectively take equity risk out of the portfolio by increasing our short position. The fund also can do individual security shorts. But again, i think it's important to point out that, yes, the short position has come down to about three % of ned asset.
IN THIS EPISODE, YOU’LL LEARN:
01:55 - What makes Weitz’s equity and fixed income funds different from others.
04:20 - Weitz’s overall investment process and how it has evolved over time.
04:20 - What their “quality at a discount” (QAD) investing framework is.
11:45 - What 6 factors they look for to assess the quality of a company.
14:16 - What discount rate they use when projecting out cash flows.
24:01 - Their thoughts on Google, Facebook and Amazon stocks.
26:44 - Their investment thesis for Liberty Broadband.
31:30 - What drives large discrepancies between a companies’ enterprise value and market cap, and what should investors be more focused on.
37:52 - Why Accenture stock has been one of their core holdings for 10+ years.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
EPISODE RESOURCES
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