Joe Bauernfreund and value investing are nearly synonymous. The veteran manager runs the AVI Global Trust and AVI Japan Opportunity Trust, and has responsibility for all AVI’s investment decisions as the CEO and CIO. His £1bn global stocks fund scours the world for the best companies but whose shares stand at a discount to the value of their underlying assets.
In this podcast, funds editor Dave Baxter and Bauernfreund unpack his extreme value investment process, how Japanese valuations have changed, how to avoid value traps and more.
This episode was recorded on 27 March.
Timestamps
1:02 The investment process of the fund
2:34 Activist investing
4:27 Hipgnosis (HSF)
5:23 Baunerfreund’s take on investment trusts
7:07 Recovery in the trust space
11:00 The resilience of certain sectors
12:38 Private Equity
16:58 The era of higher rates
18:32 The Japanese market
21:04 Competition in the space
22:32 Interesting sectors or themes in Japan
23:33 Other nations the fund is gravitated towards
25:28 Emerging markets
27:26 The reasons to exit a position and selling Pershing Square
Hosted on Acast. See acast.com/privacy for more information.
The Companies and Markets Show: Focusrite, XPS Pensions and profiting from the energy switch
IC Interviews: Stuart Widdowson of Odyssean Investment Trust
The Companies and Markets Show: Avon Protection, the Autumn Statement and quality US shares
A store of value | Lee and the IC
The Companies and Markets Show: Diageo, Reits and Investment Trusts
IC Interviews: James de Uphaugh and Imran Sattar of Edinburgh Investment Trust
The Companies and Markets Show: ABF, Apple, and the ‘winner’s curse’
The Companies and Markets Show: HSBC, Asos and the problem with megaprojects
IC Interviews: UK equity manager Nick Train
The Companies and Markets Show: Lloyd’s of London and Aim 100 Part 2
‘You can’t get selling right every time’ | Lee and the IC
The Companies and Markets Show: The 2023 Aim special
The Companies and Markets Show: Wetherspoons, saving for retirement and Birkenstock’s IPO
IC Interviews: Small-cap stockpicker Rosemary Banyard
The Companies and Markets Show: Volution, investment trust discounts & the bond yield spike
Partner Content: AI – opportunity or threat?
The Companies and Markets Show: Pendragon, disinflation and pet care
‘You only need two things to become a successful investor’ | Lee and the IC
IC Interviews: Simon Barnard of Smithson Investment Trust
The Companies and Markets Show: Elixirr, Vodafone and Judges Scientific
Create your
podcast in
minutes
It is Free
THE ADAM BUXTON PODCAST
Wahlgren & Wistam
Mellan Himmel och Jord
Olösta Fall
Spår