I just came back from the Value Investing Conference in Italy. This was the 2nd conference I’ve attended (the first was the London Value Investor Conference in 2014). Both were useful in getting ideas from other investors across the globe.
I also had the pleasure of finally meeting Whitney Tilson. I remember watching his lecture at Darden University back in 2010 – the first formal introduction to value investing I had. He gave a presentation on the fundamentals of investing, and also his investment thesis on Berkshire Hathaway (which he presented again at the conference this year).
It has done very nicely since then, although I never did pull the trigger to buy it as I never fully understood the insurance component of the business.
Unsurprisingly, investors mostly think that the US is fully valued, and Europe has few interesting bargains at this point (most of the high quality companies ......