The return of the value investor

Brandes’ Luiz Sauerbronn is excited because now, good companies are available at attractive prices, and says “Everything is on sale!”

Diana Cawfield 26 March, 2020 | 1:48AM

Value: Flower in hand

Editor's note:
 Read the latest on how the coronavirus is rattling the markets and what you can do to navigate it.


In the face of today’s coronavirus influenced market, value-based investment managers have a different perspective on the plummet in stocks prices.  Luiz Sauerbronn, a portfolio manager and director of investments at Brandes Investment Partners in San Diego, California, did not waiver from his core philosophy, despite a decade of being out of favour. Maintaining the discipline has earned a Bronze-rating for the Brandes Canadian Equity Series F mandate.

“The last 10 years in particular,” says Sauerbronn, “have been very tough for value investors like us. I guess I’m optimistic in what we’re able to invest in today; some good companies are available at attractive prices. I’m excited because everything is on sale!”

A valuable new beginning
Sauerbronn’s optimism is grounded in the Benjamin Graham value approach of seeking sound companies that are out of favour because of market conditions or short-term influences on a business. The global, long-tenured research team includes 24 analysts and more than 30 research associates. 

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Cameco Corp14.12 CAD8.62
Corby Spirit and Wine Ltd16.75 CAD1.27
E-L Financial Corp Ltd724.75 CAD2.80
Sodexo76.22 EUR2.20

About Author

Diana Cawfield

Diana Cawfield  Diana Cawfield is an award-winning writer who has been a regular Morningstar contributor since 2000. Her numerous publication credits include the Toronto StarAdvisor's Edge and Chatelaine, as well as the Canadian Securities Institute's online educational services.

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