Cyprus Value Investment Seminar 2016
The value investing seminar you always wanted to attend
Dear Fellow Investor
Have you also been looking for a different type of gathering of value investors, but have not yet found one?
- Either the speakers were inaccessible, or
- You just got ideas and nothing else, or
- There were not enough opportunities to network?
Like you these are the problems I had at the seminars I attended…
and I decided to do something about it.
I would thus like to invite you to attend a different kind of seminar, one where you can:
- see old friends again
- make new friends
- learn from other value investors just like you
- share ideas but also the thinking behind the idea
- share your interest and fascination with value investing
- network with other value investors through speed dating and a detailed profile of all speakers and participants
- become a better investor
When: Thursday 29 and Friday 30 September 2016
Where: In Nicosia on the island of Cyprus
Here is the program for the seminar (you can read a short bio of all speakers further down on the page):
September 29th 2016
8:30 – 9:00 Registration
9:00 – 9:15 Welcoming speech by organizers
9:15 – 10:15 Meet the participants: “Speed dating”
10:15 – 10:30 Coffee Break
10:30 – 11:00 Investment Idea No.1 & Quant Value (Japan – Tim du Toit)
11:00 – 11:30 Topics from Behavioural Finance (Sophocles Sophocleous)
11:30 – 12:00 Investment Idea No.2 (Eastern European – Pavel Begun)
12:00 – 12:30 Investment Idea No.3 (U.S. Value – David Kessler)
12:30 – 13:00 Investment Idea No.4 (U.S. Value – Steve Gorelik)
13:00 – 14:00 Lunch
14:00 – 14:30 Investment Idea No.5 (Global banks – Charis Charalambous)
14:30 – 15:00 Coffee Break
15:00 – 15:30 Q&A Session with John Hourican – CEO Bank of Cyprus
20:30 – 24:00 GALA MEZE DINNER by the Pool
September 30th 2016
09:00 – 09:30 Investment Idea No.6 (U.K. Deep Value – Simon Caufield)
09:30 – 10:30 Investment Idea No.7 (European Value – Diego Moreno)
10:30 – 11:00 Coffee Break
11:00 – 11:30 Investment Idea No.8 (Greece – Florentzos Kassoumis)
11:30 – 12:00 Investment Idea No.9 (Small and Mid-Cap – Pasi Havia)
12:00 – 12:30 Investment Idea No.10 (U.S. Short – Sophocles Sophocleous)
12:30 – 13:00 Investment Idea No.11 & 12 (US Value – Raman Minhas)
13:00 – 14:00 Lunch
14:00 – 14:30 One on One with Bob Robotti – CEO Robotti & Company
14:30 – 15:00 Coffee Break
15:00 – 15:30 Panel Discussion: “The Seven Sins of Fund Management”
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Your seminar organising analyst
John Patrick Hourican
John Patrick Hourican has been CEO of Bank of Cyprus Public Company Ltd since October 2013. He served as Chief Executive of The Royal Bank of Scotland Group’s Investment Bank (Markets & International Banking) from October 2008 until February 2013. Between 2007 and 2008, he served on behalf of a consortium of banks (RBS, Fortis and Santander) as Chief Financial Officer of ABN AMRO Group and as a Member of its Managing Board. Mr. Hourican joined RBS in 1997 as a Leveraged Finance banker. He held a variety of senior positions within RBS’s wholesale banking division, notably on the division’s board as Finance Director and Chief Operating Officer. He also ran the bank’s Leverage Finance business in Europe and Asia. He started his career at Price Waterhouse and is a Fellow of the Institute of Chartered Accountants in Ireland. He is a graduate of the National University of Ireland and Dublin City University.
Robert (Bob) Robotti
Robert Robotti is the President and CEO of Robotti & Company. Prior to forming the firm in 1983, Bob was a vice president and shareholder of Gabelli & Company, Inc. He worked in public accounting and is currently an inactive CPA. Bob holds a BS from Bucknell University and an MBA in Accounting from Pace University. Bob currently serves on the Board of Directors of Panhandle Oil & Gas Company, a NYSE-listed diversified mineral company located in Oklahoma City; as Chairman of the Board of Directors of Pulse Seismic Inc., a seismic data licensing business located in Calgary, Alberta; and was previously on the Board of Directors of BMC Building Materials Holding Corporation, prior to the completion of its merger with Stock Building Supply Holdings, Inc. in 2015. In addition, he serves on the Boards of many non-profit organizations where he generously donates his time and expertise. Previously, Bob was a member of the SEC’s Advisory Committee on Smaller Public Companies, established to examine the impact of Sarbanes-Oxley Act and other aspects of the federal securities law.
Pavel Begun from Canada
Pavel co-founded 3G Capital a concentrated value investment fund manager. He has over sixteen years of experience in value investing and is a board member of AlarmForce Industries Inc. (Canadian listed USA residential alarm company) and a director at Grafenia PLC (UK listed short-run on-demand printer). Pavel has an M.B.A. from the University of Chicago and is a Chartered Financial Analyst. He has been a guest speaker at a number of universities and also at various investing conferences since 2001.
Steve Gorelik from the USA
Steve is a Portfolio Manager with Firebird Management, a value oriented asset manager with over 20 years of experience investing in the Eastern European and North American markets. Steve’s investment experience includes both public and private equity investments in Eastern Europe with particular focus on Baltic Countries, Romania, Georgia and banks across the whole region. Steve is also lead portfolio manager of Firebird U.S. Value Fund. Steve is a graduate of Value Investing Program at Columbia University Graduate School of Business and is a CFA (chartered financial analyst).
Pasi Havia from Finland
Pasi works for Helsinki Capital Partners (HCP), which is one of the fastest growing asset managers in Finland. In 2016, HCP received Fund Manager of The Year Finland reward from The European. Pasi is a Portfolio Manager of the HCP Quant fund, a global small and mid-cap quantitative value fund. It uses systematic, quantitative and statistical methods to identify stocks that are undervalued, by using financial modelling. Pasi’s personal blog was ranked the second most popular economic blog in Finland in 2011 and 2014. He is also a co-author of a best-selling personal finance book in Finland.
Simon Caufield from the UK
Simon has been a professional investor since 2007 and manages family capital and has a private client advisory business. He specialises in deep value, cyclical and cheap compounders in the industrial, consumer discretionary and non-bank financial sectors. He is an active member of the value investing special interest group of the CFA in the UK and a regular visitor to value investing events.
Diego Moreno from Germany
Diego is an Investment Associate at Forum Family Office, an investment company based in Munich, Germany. Forum Family Office manages the wealth of a German industrial family and has returned 17% p.a. since its inception 25 years ago. Forum also advises a fund for institutional investors under the same value investing, long-term oriented philosophy. Previously, Diego held various management positions in the aerospace and automotive industries. During this period, he also studied and applied the value investing principles in the management of his private wealth before deciding to become a professional investor. He holds a MSc. in Industrial Engineering by the University of Zaragoza (Spain) and a BSc. in Economics and Management by the LSE/UoL (UK). Diego speaks Spanish, English, German and French.
Raman Minhas from UK
Manages a small private fund which focuses on Growth At Reasonable Price (GARP) and value. Opportunities are sourced from US and UK, and are sector and size agnostic. He is a contributor to SumZero, Gurufocus and Seeking Alpha. Previously an ER doctor and life sciences analyst.
David Kessler from the U.S.
David Kessler is a Senior Investment Associate with Robotti & Company Advisors, LLC. Prior to joining the firm in 2009, he was a Research Analyst Consultant with Aquamarine Capital (Guy Spier’s firm) and a Portfolio Management Associate with Rochdale Investment Management. David received a BS in Finance and Marketing from the University of Maryland and an MBA from Columbia Business School where he was a member of Columbia’s Applied Value Investing Program.
Tim du Toit from Germany
Tim du Toit was born in South Africa in 1967 and moved to Germany in 2001. In between he completed a B. Com. Hons. and MBA (Indiana USA) degree, worked in banking and asset management in South Africa and Germany for 15 years. Since 2010 he manages his own money, writes investment newsletters (focus on Europe) and started an investment screening service (www.quant-investing.com).
Charis Charalambous from Cyprus
Charis Charalambous is currently the fund manager of the Active Banking Sector Fund, an equity fund which invests exclusively in large cap banks in the United States and Western Europe. Previously he worked for six years for Citigroup in London where he was Vice President of M&A activities in the EMEA region. At Citigroup, Charis worked on multiple M&A deals with transaction values ranging from $100mn to $6bn. He has also worked in the Treasury Departments of the Bank of Cyprus (London) Ltd and the Cyprus Development Bank Ltd. He holds a B.A. in Economics from Cambridge University, an M.Phil. in Economics from Oxford University and an MBA (with distinction) from London Business School.
Florentzos Kassoumis from Cyprus
Florentzos Kassoumis is founder and CEO of FAMco, a financial intermediary firm which puts fundamentals first. A value investor with over twenty years of experience in asset management and advisory services, Florentzos currently supervises the wealth management and financing activities for private clients. Previously Florentzos was Head of Wealth and Asset Management at WSFIS Ltd, while he held positions at Sharelink Securities & Financial Services Ltd, as Head of Asset Management, CDB Bank and Hellenic Bank as Analyst, while he was also an advisor to the Government of Cyprus. He has a BSc and MSc. (Government of Cyprus scholarship) in finance from the University of Cyprus and is a recipient of several awards in Investment Games and Projects.
Sophocles Sophocleous from Cyprus
A Fulbright scholar and Chartered Financial Analyst, he currently manages institutional money based on his proprietary equity strategy (known as FatAlpha) which combines quantitative value methods with qualitative analysis. He spent over 11 years with London-based EM fund manager Argo Capital Management as Executive Director. Previously, he was employed in the brokerage and the investment banking industry. Sophocles graduated from the University of Illinois at Urbana-Champaign with a double major in Economics and Finance.