Rich Pzena: How To Be A Successful Value Investor In Disruptive Times

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In his latest shareholder letter, Rich Pzena at Pzena Asset Management provides some great advice for investors who are finding it difficult to invest in disruptive times saying: “We are handling the current wave of disruptions the way we always have: by conducting intensive research to find skewed risk / reward opportunities in companies with resilient business franchises.” Here’s an … Read More

Rich Pzena – There Are Many Factors Contributing To The Opportunities In Value Stocks Today

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Pzena Investment Management recently released its Q2 2017 commentary saying: Improving fundamentals coupled with wide valuation spreads make for an attractive environment for deep value stocks. Self-help measures have been an important contributor to an improved profit picture. The article goes on to say: The strong value run of 2016 paused in the first half of 2017 as market leadership … Read More

Pzena Investment Management: Investing In The Cheapest Stocks Provides Superior Investment Performance Over The Long Term

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One of the investors we follow closely at The Acquirer’s Multiple is Rich Pzena at Pzena Investment Management (Pzena). Pzena recently released its Q1 2017 commentary in which they demonstrate how investing in the cheapest stocks provides superior investment performance over the long term. Here’s an excerpt from the Q1 2017 commentary:

What Makes a Great Value Investor – Richard Pzena

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(Image Credit, Richard “Rich” Pzena is the founder and chief investment officer of Pzena Investment Management, a New York-based deep value investment firm with over $20 billion in assets under management. According to Graham and Doddsville, Pzena Investment Management’s Value fund has compiled an annualized compounded return of 16.3% since inception, compared to a compounded annualized return of 9.3% … Read More