Wednesday, September 18, 2013
Notes from Charles de Valux's Value Investing Congress Presentation
They're very cautious right now: "never been as cautiously positioned." He feels US stocks are fully priced right now.
They've reduced their gold position as well. He's worried a lot about China and says it's a big question mark. However, he thinks Japan is cheap mainly due to corporate governance.
He emphasized minimizing losses as a key to compounding wealth.
Posted by Bud Fox at 6:41 AM