Hi there,
Yesterday afternoon I listened carefully to my old pal Piet Viljoen sharing his perspectives. A value investor to his toes, Viljoen has worked so hard at swimming against fashion he now genuinely loves it when a share he’s been buying falls in price. At the annual RECM conference yesterday he explained how he doubled and redoubled the bet after he first started accumulating Arcellor Mittal shares. They’d fell 57% from his first purchase in the early R50s until bottoming out months later at R24. The price is now in the mid R30s, so even those value investors who missed the absolute bottom will still be licking their lips. Viljoen the Unrepentant Value Investor is also big into the big three platinum stocks and Anglo American, calling it a “once in a generation” opportunity.
His presentation served as a timely reminder in my own notes for reporting back on the Value Investor’s Conference I attended in Omaha. The highlights will be shared on Saturday in a full day conference in Johannesburg. David Shapiro and Roelf and Ilze Alberts will be helping me by making presentations on what they learnt there about the greatest investor alive, the Oracle of Omaha Warren Buffett. The day costs R1 200 which is good value compared with the $1 695 Omaha conference ticket price. It’s for Standard Bank Online Share Trading clients with a cap at 50 people. By yesterday morning, 38 had booked, but the bank’s guys will make a plan for members of the Biznews community who might want to come as well. So if you’d like to spend Saturday with me, drop my better half an email ([email protected]) and she’ll sort things out. Will also be sharing the rest of Piet’s Picks – and a few from Mr Buffett too. Should be fun.
Best,
Alec
Yesterday’s top stories:
The “Meet South Africa” video that’s got the world talking
Zuma’s bloated cabinet in pictures: Global comparison
Tito Mboweni reacts to claims Zuma’s Left Wing shafted chance as Finance Minister
Cape Town property prices soar. More than 50% in places (tables)
Oscar Pistorius: My version of events. Brilliant summary of what athlete wants us to believe
Top Podcast:
David Shapiro gives his views on today’s markets
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