I can only tell you that the secret has been out for 50 years, ever since Ben Graham and Dave Dodd wrote Security Analysis, yet I have seen no trend toward value investing in the 35 years I’ve practiced it. There seems to be some perverse human characteristic that likes to make easy things difficult.
- Warren Buffett, 1984
Austria was successful in pushing through policies which are popular all over the world. Austria has most impressive records in five lines: she increased public expenditures; she increased wages; she increased social benefits; she increased bank credits; and she increased consumption. After all these achievements she was on the verge of ruin.
Fritz Machlup, The Consumption Of Capital In Austria, 1934
Governments everywhere are still trying to cure by public works the unemployment brought about by their own policies. They are imposing heavier and more expropriatory taxes than ever. They still recommend credit expansion. Most of them still make “full employment” their overriding goal. They continue to impose import quotas and protective tariffs. They try to increase exports by depreciating their currencies even further. Farmers are still “striking” for “parity prices.” Governments still provide special encouragements to unprofitable industries. They still make efforts to “stabilize” special commodity prices.
Henry Hazlitt, Economics in One Lesson, 1979
Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, statism and socialism.
Ludwig von Mises, The Causes of the Economic Crises, 1928
MUST READ: The Intelligent Investor, edition 1949, by Graham
MUST READ: A behavioral critique of traditional asset management by Montier
Welcome to my website. Over the 2006-2012 period I developed various quantitative value investing strategies. Starting early 2011 the initial strategy is being used within CAPITA, a global equity fund managed together with Christophe De Wit (Director - Saffelberg Investments) which in the upcoming months will be transformed into CAPITA Global Quant Value Fund managed by CAPITA Asset Management. A second strategy will be implemented within the Quant Asia Fund managed by Grit Capital. Grit Capital is currently started up by Arthur van der Linden (Head of M&A - RMA Group - Thailand). Arthur holds an MBA in value investing from Columbia University. A third and at the same time global quantitative value strategy, provisionally named Diversified Global Quant Value, was devised within the scope of the Good Money project by Bart Van Coppenolle (CEO - Right Brain Interface). In the next few months and years I will work towards the further development of these projects into valuable value funds, each one tuned to the intended target audience. The philosophy underlying the three value strategies is invariably based on Benjamin Graham’s investment philosophy. I gladly refer to the CAPITA Global Quant Value Fund presentation and the corresponding explanations on my blog for more information concerning this investment philosophy and the quantitative value strategy (with matching results) within the CAPITA Global Quant Value Fund. In particular within the scope of the Diversified Global Quant Value strategy I’m definitely looking for an exclusive institutional partner.
CAPITA Global Quant Value Fund
- Global quantitative value fund managed by CAPITA Asset Management
- Managing partners: Christophe De Wit & Steven De Klerck
- Target audience: HNW & UHNW
- Potential AUM ≅ €500 Million
- Monthly valuations of international stock markets on my blog
Quant Asia Fund
- Quantitative value fund with focus on the Asia-Pacific region managed by Grit Capital
- Managing partner: Arthur van der Linden
- CIO: Steven De Klerck
- Target audience: HNW & UHNW with focus on the Asia-Pacific region
- Potential AUM ≅ €150 Million
- Website will be up soon
Diversified Global Quant Value Strategy
- Strategy developed within the scope of the Good Money project by Bart Van Coppenolle
- Potential AUM ≅ +€5 Billion
- Target audience: institutional and retail investors
- Bi-annual stock portfolios and corresponding annual results on my blog