14th Annual Value Investor Conference - Omaha

Date: Thursday and Friday, May 4 and 5, 2017
Location: University of Nebraska at Omaha, College of Business, Mammel Hall

Presenter Bios:

Corporate Values Summit
Summit Series Speakers 2017:  Peter Lefferts, Lawrence Cunningham, Paul Lountzis, L.J. Rittenhouse, Robert Miles, and more...
Omaha Value Dinner
Value Investor Conference Dinner:
Keynote Speaker: David Poppe

Dr. Robert Cialdini
Author, Influence and Pre-Suasion
Topic: “A Revolutionary Way to Influence and Persuade
Dr. Robert Cialdini
Dr. Robert Cialdini has spent his entire career researching the science of influence, earning him an international reputation as an expert in the fields of persuasion, compliance and negotiation.

His books including, Influence: Science & Practice, are the result of decades of peer-reviewed research on why people comply with requests. Influence has sold over three million copies, is a New York Times Bestseller and has been published in over 30 languages.

Because of the world-wide recognition of Dr. Cialdini’s cutting-edge scientific research and his ethical business and policy applications, he is frequently regarded as the “Godfather of Influence.”

To read more detailed information about Dr. Cialdini, click here.

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Elizabeth Lilly, CFA
CFA, Portfolio Manager, TETON Fund
Topic: "TBA"

Elizabeth Lilly, CFA

Elizabeth Lilly joined the portfolio management team of the TETON Westwood Mighty MitesSM Fund in July, 2011. 

Ms. Lilly has been associated with GAMCO Asset Management since 2002 following the acquisition of Woodland Partners by GAMCO. Prior to co-founding Woodland Partners in 1996, she spent six years as a portfolio manager with First Asset Management (FAM), following a stint at Fund American Companies. 

Ms. Lilly began her career at The Goldman Sachs Group in 1985 as a research analyst and holds a B.A. degree from Hobart/Williams Smith College.

To read more about Ms. Lilly, please click here.


Pat  Dorsey
Author, Founder, Portfolio Manager, Dorsey Asset Management
Topic: “Competitive Advantage and Capital Allocation"

Key Takeaways:
  1. Competitive advantage drives the duration of excess ROIC, which increases long-term business value
  2. Capital allocation links shareholder value and business value, amplifying or reducing the returns received by equity owners
  3. Competitive advantage and capital allocation have quantitative outputs, but the inputs require qualitative evaluation
Pat Dorsey

Pat Dorsey is the founder of Dorsey Asset Management. Prior to starting Dorsey Asset, he was Director of Research for Sanibel Captiva Trust, an independent trust company with approximately $1 billion in assets under management serving high net worth clients.

From 2000 to 2011, Pat was Director of Equity Research for Morningstar, where he led the growth of Morningstar’s equity research group from 10 to over 100 analysts. Pat developed Morningstar’s economic moat ratings, as well as the methodology behind Morningstar's framework for analyzing competitive advantage. Pat is also the author of two books — The Five Rules for Successful Stock Investing and The Little Book that Builds Wealth — and has been quoted in publications such as the Wall Street Journal, Fortune, the New York Times, and BusinessWeek.

Pat holds a Master’s degree in Political Science from Northwestern University and a bachelor’s degree in government from Wesleyan University. He is a CFA charterholder.


Key Takeaways:
  1. Identifying great managers is difficult, but important.
  2. It provides the thoughtful investor with the opportunity to beat the market through superior insight.
  3. Key attributes to look for are those which are different and overlooked.
Robert Vinall

Rob Vinall is the founder of RV Capital. RV Capital advises the Business Owner Fund, a long-only equity fund. The fund invests worldwide with a high level of concentration in individual companies. Its focus is great businesses run by honest and talented managers.

Prior to starting RV Capital in 2006, Rob worked at CDL Investors, a boutique advisory firm in Zurich. He began his career at Goldman Sachs Asset Management in London in 1997. From 1998 to 2004, he worked as an telecoms analyst at DZ Bank in Frankfurt.

Rob graduated from Cambridge University in 1996 with a BA Hons in Modern and Medieval Languages. He lives in Zurich with his wife and three children.

Memo "Some Thoughts on Becoming an Independent Fund Manager

 


Kim Shannon

Kim founded Sionna in the summer of 2002 and has more than 30 years of investment management experience. She was previously chief investment officer and senior vice president at Merrill Lynch Investment Managers Canada Inc. Kim is a past president of the CFA Society Toronto. She is currently a member of the C.D. Howe Institute’s National Council, the CFA Institute Board of Regents (where she previously served as its chair), and on the board of the Brandes Institute. Kim also serves as a board member with the following: the Canadian Coalition for Good Governance, the Community Business Diversity Council, the Women’s College Hospital Investment Committee, and the United Corporation (a listed closed-end fund). Kim was awarded the Morningstar Fund Manager of the Year for 2005. She was also awarded the RBC Canadian Woman Entrepreneur Award, the Women’s Executive Network’s Canada’s Most Powerful Women: Top 100 Award in 2007, and has been continuously listed as one of Profit Magazine’s Top 100 Women of the year over the last several years. Kim was also one of the recipients of the 2015 Rotman Women in Management Association Top 10 Awards, under the Entrepreneur category.

For additional information on Ms. Shannon, please click here.


Jeff Stacey

Jeffrey Stacey is the Founder of Stacey Muirhead Capital Management Ltd.  Jeff has almost 30 years of investment industry experience. Prior to starting Stacey Muirhead Capital Management Ltd., he was employed with a boutique Toronto investment firm where he was also a shareholder.

Jeff has an Honours Bachelor of Business Administration degree from Wilfrid Laurier University and is a Chartered Financial Analyst. He is a member of the Finance and Investment Committee and an Advisory Board Member of the student managed School of Accounting and Finance Investment Fund at the University of Waterloo. He is also an Advisory Board Member of the student managed Ivey Value Fund at the University of Western Ontario. Additionally, he serves as a member of the Dean’s Advisory Council at the Wilfrid Laurier University School of Business and Economics and on the Board of Trustees at Parkminster United Church. He is a former director of Rainmaker Entertainment Inc. and previously served on the Board of Trustees and Investment Management Committee at the University of Guelph.


Yefei Lu
Author, Portfolio Manager, Shareholder Value Management [Germany]
Topic: “Inside the Investments of Warren Buffett”
Yefei Lu

Yefei Lu is a Portfolio Manager at Shareholder Value Management AG, a value investment company based in Frankfurt, Germany. Previous to Shareholder Value Management, Mr. Lu worked for a single family investment office in Munich, Germany and for McKinsey & Company in Berlin, Germany. Mr. Lu has an MBA from the London Business School, United Kingdom and a Bachelor of Arts in Economics from Stanford University, Palo Alto, USA.

Shareholder Value Management


Ron Muhlenkamp
Founder, President, and Portfolio Manager - Muhlenkamp & Co., Inc.
Topic: “TBA”
Muhlenkamp Fund

Ronald H. Muhlenkamp Founder, President, and Portfolio Manager - Investment Team Ronald H. Muhlenkamp is founder and president of Muhlenkamp & Company, Inc., established in 1977 to manage private accounts for individuals and institutions. In 1988, Muhlenkamp & Company launched a no-load mutual fund as an investment vehicle for all investors, large or small.

An award-winning investment manager, frequent guest of the media, and featured speaker at investment shows nationwide, Mr. Muhlenkamp’s entire business career has been devoted to the professional management of investment portfolios. His work since 1968 has been focused on extensive studies of investment management philosophies, both fundamental and technical. As a result of this research, he developed a proprietary method of evaluating both equity and fixed income securities, which continues to be employed by Muhlenkamp & Company. In addition to publishing his quarterly newsletter, Muhlenkamp Memorandum, Mr. Muhlenkamp is the author of Ron’s Road to Wealth: Insights for the Curious Investor.

Mr. Muhlenkamp received a Bachelor of Science degree in Engineering from M.I.T. in 1966, and a Masters in Business Administration from the Harvard Business School in 1968. He holds a Chartered Financial Analyst (CFA) designation. He and his wife, Connie, make their home on a farm near Pittsburgh, but travel extensively to meet and talk with companies and clients around the country.

The majority of Mr. Muhlenkamp’s long-term investment assets are invested in the Company’s self-named mutual fund.

For more information on Mr. Muhlenkamp, please click here.


Lauren Templeton
Author, Founder and President, Lauren Templeton Capital Management
Topic: “TBA”
Lauren Templeton

 

Lauren C. Templeton is the founder and president of Templeton & Phillips Capital Management, LLC; a value investing boutique located in Chattanooga, Tennessee.  The company is the general partner to the Global Maximum Pessimism Fund.

Ms. Templeton received a B.A. in Economics from the University of the South.  She is the founder and former president of the Southeastern Hedge Fund Association, Inc. based in Atlanta, Georgia.  Ms. Templeton currently serves the on the Board of Trustees at the Baylor School, Board of Advisors for The Beacon Center of Tennessee and the Atlas Board of Overseers. Ms. Templeton is also an active member of Rotary International.  She serves on the investment committee of Chattanooga Rotary Club 103 and the investment committee of The Rotary Foundation.

In the past, Ms. Templeton has served as President of the Atlanta Hedge Fund Roundtable and as the Director of the Galtere Institute: Finance for the Future Initiative at the University of Tennessee at Chattanooga.  Additionally, Ms. Templeton has been a member of the Board of Directors of the Memorial Hospital Foundation, a member of the Finance Advisory Board of the University of Tennessee Chattanooga, and also served on the Chattanooga Area Chamber of Commerce Board of Directors.

Lauren is the great niece of Sir John M. Templeton and is a current member of the John M. Templeton Foundation.  The John Templeton Foundation was established in 1987 by renowned international investor, Sir John Templeton.

Lauren Templeton began investing as a child under the heavy influence of her father as well as her late great-uncle, Sir John Templeton.  Professionally speaking, Lauren began her career working with managed portfolios and investments in 1998, beginning as a junior associate at the financial advisor Homrich and Berg and later the hedge fund management company New Providence Advisors both of Atlanta.  In 2001, Lauren launched her own hedge fund management company which dedicates its efforts to the practice of value investing across the global markets using the same methods learned from her great-uncle, Sir John Templeton.  Ms. Templeton is also the co-author of, Investing the Templeton Way: The Market Beating Strategies of Value Investing Legendary Bargain Hunter, 2007, McGraw Hill, which has been translated into nine languages.  Lauren lives in Chattanooga, with her husband, Scott Phillips, who is a portfolio manager of the Global Maximum Pessimism Fund and author of the investing book, Buying at the Point Maximum Pessimism: Six Value Investing Trends from China to Oil to Agriculture, 2010, FT Press, and co-author to the revised edition of The Templeton Touch, 2012, Templeton Press. Lauren and Scott produce a monthly investment report titled the Maximum Pessimism Report which is distributed worldwide (www.maximumpessimism.com).  Lauren and Scott enjoy spending their free time with their two daughters.

Read more information about Ms. Templeton.


Shane Parrish
Chief Operating Officer of Adventur.es, Founder "The Farnam Street Blog"
Topic: “TBA”
Shane Parrish

Tom Gayner
Executive Vice President and Chief Investment Officer - Markel Corporation
President, Markel Gayner Asset Management, Inc.

Topic: “TBA”
Mohnish Pabrai

Tom Gayner is the Executive Vice President and Chief Investment Officer of Markel Corp. and President, Markel Gayner Asset Management, Inc., the investment subsidiary of Markel Corp. since December of 1990. The asset under management is about $2 billion.


Bob Robotti
Founder and CIO - Robotti & Company Advisors LLC
Topic: “TBA”
Bob Robotti

Bob Robotti is the founder and CIO of Robotti & Company Advisors LLC, a registered investment adviser, and president of Robotti & Company LLC, a registered broker-dealer. Mr. Robotti began his career as an accountant, and served as CFO of Gabelli & Company before founding Robotti & Company in 1983. The firm’s success over time has been due to his and his team’s ability to identify companies trading at a significant discount to intrinsic value. While investing across a wide range of industries, Mr. Robotti has been particularly active in the energy sector for his entire career. Mr. Robotti graduated from Bucknell University and holds an MBA from Pace University.

Peter Lefferts

Peter A. Lefferts brings along his vast international experience in the financial and banking sector, having served the Citigroup and American Express for four decades. Peter is the former Executive Managing Director of American Express Financial Advisors (predecessor to Ameriprise Financial). He currently serves as an Independent Director on the Board of the American Express Bank, FSB, and on the Bank’s Audit & Risk Management Committee. The American Express Bank is the major provider of American Express Card products, lending services, and bank deposits in the USA. He is also an active member of NACD.
For more information on Mr. Lefferts, click here.


Larry Cunningham

Lawrence A. Cunningham, an expert and consultant on corporate governance and culture, is the Henry St. George Tucker III Research Professor at The George Washington University Law School in Washington D.C. and Founding Director of GW’s Business Law Program in New York City. He previously served as Professor of Law and Business at Boston College, including as Associate Dean, and Director of the Samuel and Ronnie Heyman Center on Corporate Governance in New York. Prior to that time, Mr. Cunningham served as of counsel for Roberts, Sheridan & Kotel and practiced corporate law with Cravath, Swaine & Moore.

Mr. Cunningham has published extensively on corporate culture and governance in journals of universities such as Columbia, Cornell, and Vanderbilt, and periodicals such as Directors & Boards, Harvard Corporate Governance Blog, NACD Directorship, and The Wall Street Journal. He has published numerous books, including The Essays of Warren Buffett: Lessons for Corporate America, in collaboration with Warren Buffett, and The AIG Story, with Hank Greenberg.

Mr. Cunningham is on the board of directors of Ashford Hospitality Prime, a New York Stock Exchange listed real estate investment trust, and Pearl West Group, a private investment company based in Vancouver. He is a Member of the Dean’s Council of Lerner College of Business of the University of Delaware and a Member of the Editorial Board of the Museum of American Finance in New York.
He resides in New York City with his wife and two daughters. He resides in New York City with his wife and two daughters.

To read more about Mr. Cunnighham, please click here.


Lountzis Asset

Lountzis Asset Management, LLC is a registered investment adviser founded by Paul Lountzis in October 2000 to manage customized portfolios serving high net worth individuals, institutions and retirement plans.

Our investment objective is to maximize the long term after tax returns for our clients in various economic and market conditions while emphasizing the preservation of capital.

Prior to forming Lountzis Asset Management, LLC, Mr. Lountzis was employed by Ruane, Cunniff & Company, Inc., New York, NY, a registered investment adviser managing the Sequoia Mutual Fund as well as private accounts, from 1990 through 1999 as an analyst, and as a partner from 1995 through 1999.

Mr. Lountzis was an analyst at Royce & Associates, Inc., New York, NY from 1989 through 1990 where he evaluated small and mid-cap stocks for purchase in institutional accounts as well as various mutual funds including the Pennsylvania Mutual Fund.

Mr. Lountzis received a Bachelor of Science degree with a concentration in Finance and Management from Albright College, Reading, Pennsylvania in 1986.

For more about Mr. Lountzis, please click here.


L.J. Rittenhouse

Rittenhouse Rankings works with Fortune 500 companies to strengthen execution and financial performance.  L.J. Rittenhouse coaches corporate teams to identify blind spots and create trust-building stakeholder communication and action strategies.

Rittenhouse’s new book, Investing Between the Lines, (McGraw 2013), reports on companies that lead with Candor and those which have not.  It was endorsed by Warren Buffett in his 2013 shareholder letter.

For additional information on L. J. Rittenhouse, please click here.


Robert P Miles

Robert P. Miles is an internationally acclaimed keynote presenter, author and distinguished authority on Warren Buffett and Berkshire Hathaway.

Pursued by journalists and media moguls on just about each and every move that Mr. Buffett makes, Robert is not only a long term shareholder of Berkshire Hathaway [nyse: BRKa/BRKb], he has had the great honor of getting to know Warren Buffett, the man and the remarkable wealth-building strategist.

He is the author of 3 books, has created assorted audio and video programs, and has appeared on many radio and television programs on five continents, including NPR, CNN, CNN International, CNBC, FOX Business, Channel News Asia, Sky Business News, Shanghai Today, CNBC Asia, CNBC Africa and Bloomberg TV. His Buffett CEO book was featured as a special on National Public Television's Nightly Business Report.

As the writer of the top-selling books, The Warren Buffett CEO: Secrets From the Berkshire Hathaway Managers  and 101 Reasons To Own the World's Greatest Investment: Warren Buffett's Berkshire Hathaway [Wiley], Robert has relentlessly followed his passion and found great success in doing so. 

He is the author and presenter of Warren Buffett Wealth: Principles and Practical Methods Used by the World’s Greatest Investor[Wiley (book) and Nightingale (audio)]. He is host of the Buffett CEO Talk video series, conversations with the Berkshire Hathaway managers filmed before live studio audiences and broadcast on public television.

Many of his live keynotes, along with his hardcover and paperback books have been translated into assorted foreign languages, including Chinese, Korean, Thai, Japanese, and Vietnamese.

Known for his subtle wit and entertaining stories, this author without borders has shared his valuable insights, strategies, philosophies, and anecdotes with enthusiastic audiences throughout the world.

For more than a decade, Miles has given hundreds of live presentations throughout North America, Europe, Asia, Africa and Australia in 15 countries, over 45 cities and 12 universities.

Miles is the founder and host of the original Value Investor Conference held each year immediately preceding the Berkshire Hathaway annual meeting. Attendees from all 6 continents enjoy this unique retreat style forum featuring presentations from Warren Buffett CEOs, global investment managers and best-selling authors. 

In the fall of 2011, at the University of Nebraska at Omaha, Robert Miles created the curriculum and began teaching a graduate Executive MBA course based on his worldwide lectures and titled The Genius of Warren Buffett: The Science of Investing and the Art of Managing. This one of a kind program includes a distinguished speaker series, multiple valuation case studies of actual businesses and stocks purchased by Warren Buffett, and for the final exam, student presentations of businesses they think would best fit into the Berkshire family of businesses.

Miles is a graduate of the University of Michigan Business School and resides in Tampa, Florida.

Read more detailed information about Mr. Miles here.