Broyhill Asset Management: Rational Investing in Irrational Markets - By Christopher Pavese

Yesterday, I had the pleasure of speaking with the Bowden Group at ASU and meeting with this year’s CFA Research Challenge Team.  It’s still early, and we have a lot of work (and glazed doughnuts) ahead of us, but I’d say our chances of a three-peat are strong . . . to quite strong.

My presentation to the team is embedded below and covers 1) the current macroeconomic landscape, 2) the importance of finding your investment niche, 3) our own rather boring niche, 4) knowing where to fish, 5) speed kills and cheap thrills, and 5) the results of a value-oriented, high-quality investment approach.

At last year’s visit to ASU, we pitched our investment thesis in Oaktree Capital Group (OAK) to the Bowden Group.  This year, we explored our investment in Cedar Fair (FUN) which was first published in last month’s issue of Value Investor Insight.