During this presentation at the Ivey Business School Value Investing Program 2024, Francis Chou emphasizes the principles of value investing, highlighting that success in both bonds and equities stems from selecting companies based on their intrinsic worth rather than their market price. He explains that even underperforming companies, which he … Read More
Francis Chou: The Difference Between Having Conviction & Being Reckless
In his latest presentation to the Ivey Value Investing Classes, Francis Chou discusses his value investing strategy and the difference between having conviction and being reckless. Here’s an excerpt from the presentation: Chou: One advantage I had was because I’ve been in the market, been in the bond market and … Read More
Francis Chou: Ignore The Narratives
In his latest 2021 Annual Report, Francis Chou warns investors to ignore the narratives. Here’s an excerpt from the letter: When the stock is that cheap, assuming that you don’t own any shares, a rational investor should back up the truck and buy every share that is offered in the … Read More
Francis Chou: Buy Companies Where Intrinsic Value Is Growing, Rather Than Just Buying Below Intrinsic Value
In his recent interview on the Ivey Business School 2021 Virtual Seminar, Francis Chou discussed the importance of buying companies where the intrinsic value is growing, rather than just buying below intrinsic value. Here’s an excerpt from the seminar: If you’re asking me just based on my experience, it’s better … Read More
Francis Chou: Value Investors Have Exacerbated The Impact Of Low Returns
In his latest 2020 Semi-Annual Report, Francis Chou provided some great insights into how value investors have exacerbated the impact of low returns in recent years. Here’s an excerpt from the report: Does Value Investing Work? With the lackluster returns by value funds in recent years compared to growth and … Read More
Francis Chou: Value Investors Must Remain Confident When Your Strategy Does Not Appear To Be Working
One of the value investors we like to follow closely here at The Acquirer’s Multiple is Francis Chou, founder of Chou Associates Fund. Chou recently released his 2018 semi-annual report in which he urged value investors to stick with their value investing principles in the current market environment saying: “The … Read More