In this discussion with Rich Pzena and Pzena President Bill Lipsey, Pzena explains why they choose to stay the course with their value investing strategy, and why value investing requires discipline in periods where prices become so far detached from fundamental value. One of the question’s his firm regularly gets … Read More
Rich Pzena: The Day Is Coming For Value Investing
In his latest Q3 2020 earnings call, Pzena Asset Management CEO Rich Pzena outlined his reasons why the day is coming for value investing. Here’s an excerpt from that call: Pzena: Thank you, Jessica. Ride the winners. That’s always been obvious investment strategy favored at the end of every cycle. … Read More
Rich Pzena: Top 10 Holdings
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Richard Pzena: “The Longer And Deeper The Anti-Value Cycle, The Greater The Recovery For Undervalued Stocks When Markets Eventually Normalize.”
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
Rich Pzena – There Are Many Factors Contributing To The Opportunities In Value Stocks Today
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 … Read More
Pzena Investment Management: Investing In The Cheapest Stocks Provides Superior Investment Performance Over The Long Term
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