Richard Pzena: “The Longer And Deeper The Anti-Value Cycle, The Greater The Recovery For Undervalued Stocks When Markets Eventually Normalize.”

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Richard Pzena has just released his firm’s Q3 2019 Commentary, in which he discusses the similarities between today’s extended bull market, and the period leading up to 1998, and what that means for value investors, saying: “History has demonstrated that the longer and deeper the anti-value cycle, the greater the … 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 … Read More

What Makes a Great Value Investor – Richard Pzena

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(Image Credit, cnbc.com) 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% … Read More