Ben Graham Value Conference IV

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Ben Graham Value Conference IV

Tuesday, June 20 2017 8:00 am – 7:00 pm

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Fees

Members $145 Nonmembers $395

Location

Fordham University – Law School Building 150 W. 62nd St. New York, NY 10023

The momentous occasion marks the 80th anniversary of CFA Society New York—formerly known as New York Society of Security Analysts (NYSSA)—and honors the legacy of honor the legacy of our society’s founder, Warren Buffett’s mentor, and the man renowned as the “Father of Value Investing,” Benjamin Graham.

The theme of this year’s annual event revolves around the allegorical Mr. Market—as introduced in Graham’s 1949 book “The Intelligent Investor”—and will be presented by a host of portfolio managers combining to represent more than $100 billion worth of AUM. It aims to be the largest conference in society history with a slate of speakers consisting of a myriad of protégés and other individuals with connections to Graham and Buffet themselves.

CFA Institute Continuing Education: 8.0 credits
Sponsored by Kaplan Schweser

Time Subject
8:15-9:00AM Check-In, Continental Breakfast & Networking
9:00-9:30AM Opening Remarks & Keynote: “Can Man + Machine Beat Mr. Market”
Michael Oliver Weinberg, CFA, Chief Investment Strategist, Protégé  Partners
9:30-9:35AM Sponsor Remarks: Fordham University
James Russell Kelly, Director, Gabelli Center for Global Security Analysis
Sris Chatterjee, Chair, Global Security Analysis, Gabelli School of Business
Dr. Donna M. Rapaccioli, Dean, Gabelli School of Business
9:35-10:05AM Opening Keynote: “Non-Consensus Investing”
Rupal J. Bhansali, Chief Investment Officer, International & Global Equities, Ariel Investments, LLC
10:05-10:15AM Break
10:15-11:00AM Presentation: “My Valuation Journey: Have Faith, You Must!”
“A collection of lessons that I have learned about valuation over the last 30 years.”
Aswath Damodaran, Finance Professor, Stern School of Business, New York University
11:00-11:30AM Best Ideas Presentation
Jason Karp, CEO and CIO, Tourbillon Capital Partners
11:30-11:40AM Break
11:40-12:40PM Panel Discussion: “Investing in Family Controlled Companies and Mr. Market”
Panelists
Thomas Russo, Managing Member, Gardner Russo & Gardner, LLC
Paul Isaac, CEO & Founder, Arbiter Partners Capital management, LLC
CHRISTOPHER C. DAVIS, Portfolio Manager, Davis Large Cap Value PortfoliosModerator
Vishal Mishra
12:40-1:25PM Lunch
1:25-1:30PM Phil Taylor, CFA, Chairman, Board of Directors, CFA Society New York
1:30- 1:35PM Sponsor Remarks: Options Industry Council
Frank Tirado, Vice President, Options Industry Council Education
1:35-2:20PM Panel Discussion: Mr. Market and His Fluctuations: When is he wrong? When is he right?
Panelists
John Andrew Levin, Chief Executive Officer, Portfolio Manager,  Chairman, Levin Capital  Strategies
Murray Stahl, Chief Executive Officer, Chairman of the Board of Horizon KineticsModerator
Michael Oliver Weinberg, CFA, Chief Investment Strategist, Protégé Partners
2:20-2:50PM Presentation: “Seeking value through accountability”
CHARLES R. DREIFUS, CFA, Portfolio Manager, Managing Director, Royce & Associates, LP
2:50-3:20PM Author Interview “The Richest Man Who Ever Lived: The Life and Times of Jacob Fugger” by Greg Steinmetz
Greg Steinmetz, Securities Analyst at Ruane, Cunniff & Goldfarb
3:20-3:30PM Break
3:30-4:00PM Presentation “The Hidden Variable Connecting Growth and Value Investing”
FRED MARTIN, CFA, President & Chief Investment Officer, Disciplined Growth Investors
4:00-4:45PM Fireside Chat
Paul Hilal, CEO, Mantle Ridge LP
Lawrence Cunningham, Professor, George Washington University
4:45-4:55PM Break
4:55-5:40PM Panel Discussion “Investment Mistakes and Mr. Market”
Panelists
MARIKO O. GORDON, CFA, Founder & CEO, Daruma Capital Management
Joe Hall, Managing Director, Head of CROCI, Americas: Deutsche Asset Mgt., New York
Steve Courtney, Managing Director and Co-Head of Research and Portfolio Management for Value Equity, QMA

Moderator
Elliot Trexler
5:40-5:55PM Recap Remarks
Michael Oliver Weinberg, CFA, Chief Investment Strategist, Protégé  Partners
5:55-6:00PM Closing Remarks
Harumi Urata-Thompson, CFA, Chief Operating Officer,  CFA Society New York
6:00-7:00PM Cocktails and Networking Reception

Speakers
Christopher C. Davis
, Portfolio Manager, Davis Large Cap Value Portfolios
Murray Stahl, Chief Executive Officer, Chief Investment Officer, Chairman of the Board of Horizon Kinetics
John Andrew Levin, Chief Executive Officer, Portfolio Manager, Chairman, Levin Capital Strategies
Thomas Russo, Managing Member, Gardner Russo & Gardner LLC
Jim Grant, Founder and Editor, Grant’s Interest Rate Observer
Rupal J. Bhansali, Chief Investment Officer, International & Global Equities, Ariel Investments, LLC
Fred Martin, CFA, President & Chief Investment Officer, Disciplined Growth Investors
Jason Karp, CEO and CIO, Tourbillon Capital Partners
Paul Hilal, CEO, Mantle Ridge LP
Paul Isaac, CEO & Founder, Arbiter Partners Capital management, LLC
Mariko O. Gordon, CFA, Founder & CEO, Daruma Capital Management
Joe Hall, Managing Director, Head of CROCI, Americas: Deutsche Asset Mgt., New York
Charles R. Dreifus, CFA, Portfolio Manager, Managing Director, Royce & Associates, LP
Aswath DamodaranFinance Professor, Stern School of Business, New York University
Steve Courtney, Managing Director and Co-Head of Research and Portfolio Management for Value Equity, QMA
Frank Tirado, Vice President, OIC Education
James Russell Kelly, Director, Gabelli Center for Global Security Analysis
Sris Chatterjee, Chair, Global Security Analysis, Gabelli School of Business
Dr. Donna M. Rapaccioli, Dean, Gabelli School of Business
Lawrence Cunningham, Professor, George Washington University
Greg Steinmetz, Securities Analyst at Ruane, Cunniff & Goldfarb

2016 Ben Graham Value Conference—A Look Back

Thomas Russo (left) and Michael Oliver Weinberg, CFA
 Thomas Russo (left) and Michael Oliver Weinberg
 

 Organizers Elliot Trexler and Michael Oliver Weinberg pose with Jim Grant (center)

(left to right) Michael Lipper, [organizers] Vishal Mishra & Michael Oliver Weinberg, Paul J. Lountzis and Edwin Schloss
Panel 1: “Rule No. 1 is never lose money.” – Warren Buffet
  • Seth Turkeltaub, CFA, Portfolio Manager, Catapult
  • David Poppe, CEO and President, Ruane, Cunniff & Goldfarb
  • John A. Levin, CEO, Portfolio Manager and Chairman, Levin Capital Strategies, LP
  • Michael Weinberg, CFA (Moderator), Chief Investment Strategist, Protege Partners

Other speakers included:

John M. Bader, Leon Cooperman, Thomas A. Russo, James Grant, Steven Bregman, Miguel Fidalgo, Brian M. Gillott, Jason Karp and John D. Spears

LiveStream

Member Fee: $72
Nonmember Fee: $197

Register for LiveStream

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CFA Society New York expects all attendees to comply with CFA Society New York’s Code of Conduct while attending CFA Society New York events or meetings. CFA Society New York expressly reserves the right, in its sole discretion, to grant or deny access to any individual, or to expel any individual from any CFA Society New York event or meeting.

CFA Society New York is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFA Society New York seeks to present accurate and reliable information, CFA Society New York does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFA Society New York has no duty to update and maintain the information, reports, or statements made during events. The information presented is provided for information purposes only, and is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice, is general in nature, and is not specific to you. None of the information presented is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund. CFA Society New York is not responsible for any investment decision made by you. You should not make any financial, investment, trading or other decision based upon any of the information presented at CFA Society New York without undertaking your own independent due diligence and consulting with a qualified and registered securities professional. You understand that your use of any of the information presented at CFA Society New York is at your own risk. There is a substantial amount of risk in trading securities, and the possibility exists that you can lose all, most or a portion of your capital. CFA Society New York does not, cannot, and will not assess or guarantee the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The securities mentioned in any CFA Society New York presentation may not be suitable for investors depending on their specific investment objectives and financial condition.

All requests for Withdrawals must be submitted in writing and dated. The date of the request will be the date it is received by CFA Society New York. Requests may be faxed to (212) 541-4677, or emailed to seminars@nyssa.org. Withdrawals from events, live or streaming, are subject to the following policy:

  • 24 HOURS ADVANCED NOTICE OR MORE: Credit to be issued (to be used within 6 months)
  • LESS THAN 24 HOURS OR AFTER EVENT HAS STARTED: No refund

For more information: Policies and Procedures

All requests for Withdrawals must be submitted in writing and dated. The date of the request will be the date it is received by NYSSA. Requests may be faxed to (212) 541-4677, or emailed to seminars@nyssa.org.

Withdrawals from events, live or streaming, are subject to the following policy:

  • 24 HOURS ADVANCED NOTICE OR MORE: Credit to be issued (to be used within 6 months)
  • LESS THAN 24 HOURS OR AFTER EVENT HAS STARTED: No refund

For more information: Policies and Procedures