Boyar Blog


Lessons Learned from 40 Years in the Investment Business

John Schwartz Co-Founder of The Value Investing Congress invited our Chairman Mark Boyar to be one of the featured speakers at this year’s Value Investing Congress which took place in Las Vegas on May 6th & 7th.

The title of his presentation was, “History does not Repeat Itself but it Sure Does Rhyme.” Lessons Learned from 40 years in the Investment Business.

The five lessons discussed in detail were:

1) Price matters. You can purchase the best company in the world, but if you do not buy it at a reasonable price, you will not compound your capital at an acceptable rate of return.

2) Have the courage of your convictions. Do not be afraid to load up the truck with mispriced securities during bear markets or during temporary market dislocations.

3) Never take as gospel what the Chairman of the Board of a public company tells you.

4) The least obvious and the most difficult companies to discover and analyze offer the greatest potential rewards.

5) If you heed the advice of industry specific analysts on a particular stock you will often lose money.

The presentation also contains our investment rational for three publicly traded stocks that were recently featured in our institutional research publication Asset Analysis Focus and are currently owned by Boyar Asset Management clients.

In addition, it is worth noting that John Schwartz invited Mark back to speak at the Value Investing Congress that takes place this September in New York City.

To download the Boyar Value Group’s presentation from this year’s Value Investing Congress please click here.

 

 

 

Boyar’s Intrinsic Value Research LLC prepared this posting as a matter of general information. We do not intend it to be a complete description of any security or company. All facts and statistics referenced herein are from sources we believe to be reliable, but we do not guarantee their accuracy and it may be incomplete or condensed. Boyar’s Intrinsic Value Research LLC makes no commitment to update this posting and it may remove it at anytime from its website. This posting represents the views of Boyar’s Intrinsic Value Research LLC as of June 19, 2013 and may change without notice.

This posting is made available free of charge for all persons that may legally view this posting regardless of whether you have a relationship with Boyar’s Intrinsic Value Research LLC or its affiliates. This posting does not constitute an offer or solicitation to purchase or sell a security nor is it a solicitation of a proxy or a vote. The posting is not a research report.

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