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Stansberry Investor Hour

Value Investing Is Still Possible in Today's Bloated Market

Sep 23, 2024
Chris Pavese, the president and chief investment officer of Broyhill Asset Management, shares his insights on value investing amidst today's challenging market. He discusses Broyhill's unique approach, which prioritizes safe, long-term success and has outperformed the S&P 500 without relying on major tech stocks. Chris also explains the dynamics of closed-end funds and his macro outlook regarding Federal Reserve policies. Despite a concentrated market, he identifies emerging pockets of value and emphasizes the importance of risk management and maintaining a margin of safety.
01:05:02

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Podcast summary created with Snipd AI

Quick takeaways

  • Broyhill Asset Management demonstrates a value-driven investment philosophy that prioritizes capital preservation and rigorous evaluation of mispriced securities.
  • The market's concentration highlights the importance of seeking value in underutilized areas like closed-end funds and international investments.

Deep dives

The Importance of Client Service in Investment

The discussion highlights the significance of client service in the investment industry, drawing insights from the book "Unreasonable Hospitality" by the manager of the renowned restaurant 11 Madison Park. The principles of exceptional service outlined in the book resonate with the core values that investors should embody, regardless of their specific industry. This perspective emphasizes that effective communication and understanding the needs of clients can lead to a competitive edge in investment management. The speaker underscores that, much like in hospitality, the focus should be on creating lasting relationships and ensuring that clients feel valued.

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