Value Investing: Personalities and Principles

Elena Chirkova—managing fund of GEIST shares, partner at Movchan’s Group—talks about value investing from a new angle. She doesn’t just share the views of individual outstanding investors; she compares their opinions on all the important questions—from choosing geographic markets to the need to diversify a portfolio and the reasonableness of timing as an approach—thus forming a coherent picture of value investing as an investment strategy. The author relies on the documented opinions of investors who have strongly outperformed the market. Among them are famous figures such as Warren Buffett, Benjamin Graham, Peter Lynch, Phil Carrett, and John Templeton, as well as less well-known in Russia names—Marty Whitman, Seth Klarman, and many others. Great attention is given to the question of how relevant value investing is today, when excellent results also show that investing in growth stocks works too. The listener will be able to form their own opinion about the best strategies in the stock market and avoid many mistakes typical of both beginners and experienced investors.