Iberian Value 2017, a great step forward for value investing in Spain

Iberian Value 2017

Value investors are in luck. On July 3, we will be able to enjoy the largest value investing event of the year in Spain, Iberian Value 2017. In it, we will be able to see together the main figures of value investing in the country explaining their investment style and sharing some of their latest ideas. In this article I will explain, I will share my opinion about Iberian Value 2017, I will explain the details of the event (date, time, place, price, program and speakers) and I will give you a code to attend with a 20% discount.

Tabla de contenido

  • 2.5 Discount for Investment Academy readers
  • value investing Spain has grown strongly during the last decade. I remember that when I started, 10 years ago (how time passes!), The role of value investing was completely residual compared to other countries with a much more developed financial culture. Despite still being a very minority today, the situation is very different. On July 3, we will see how value investing in Spain is going to take another big step in its evolution with a great event in which we will be able to see the best managers in the country together for the first time.

    What would you highlight from the event?

    Without a doubt, the most remarkable thing about Iberian Value 2017 is the quality of the invited managers. For the first time we will see together in the same event legendary investors in Spain of the stature of Francisco García Paramés, Álvaro Guzmán de Lázaro, Iván Martín or Javier Ruiz, along with other new managers who are hitting hard like Luis de Blas or Alejandro Estebaranz. Just for the quality of the speakers, it is an event that no value investor should miss.

    I also like the place chosen for the event, the Madrid Stock Exchange. It could have been organized elsewhere without much trouble, but the Palacio de la Bolsa has a special charm.

    Are there things that could be improved? I believe that a couple of aspects could be improved for the 2018 edition (which I hope will be organized).

    On the one hand, I think that it should have been announced somewhat more in advance. Although for residents in Madrid a couple of weeks may be enough, for those of us who have to travel from abroad, planning ahead can mean a significant saving of money in both travel and accommodation.

    In addition, I consider that the format of the presentations can be improved. Personally, I would opt for one similar to those usually used in international value investor conferences, in which each investor has half an hour to present an investment idea. It is true that at the conference managers will share investment ideas, but more depth may be needed in these presentations. For example, the talk by Alejandro Estebaranz, Javier Ruiz, Arturo Benito and Luis de Blas lasts only 45 minutes. It's a shame, as with just over 10 minutes per speaker they will hardly be able to delve into their investment ideas.

    If the problem is that there is no time to bring in such a large group of managers, a possible solution would be to extend the event to two days next year. I believe that there are enough quality managers in Spain to cover a two-day event.

    Finally, in relation to the price, although it may seem quite high, it is much more affordable than other similar events internationally. These types of events are designed for investors with a certain wealth or also for value investing “geeks” like me. 🙂

    I consider that these are two small aspects that can be improved for the Iberian Value 2018.;)

    Information and details of Iberian Value 2017

    Date

    3 July

    Opening times

    From 8: 30 to 18: 00

    The venue

    Plaza de la Lealtad, 1 Madrid (Madrid Stock Exchange)

    Price

    € 450 (€ 360 with the Investment Academy discount code)

    Discount for Investment Academy readers

    If you are interested in attending the event, you can buy your ticket with a 20% discount if you use the promotional code IBERIANVALUE-AI when registering.

    Buy Tickets

    Program and speakers

    08:30 - 09:00 Registration

    09:00 - 09:25 Welcome

    Jorge Izaguirre, Director of Markets at BME - Javier Planelles, Corporate Director of Operative Services at Cecabank

    09:25 - 09:50 Interview: Francisco García Paramés, COBAS

    The philosophy of the creator of Cobas Asset Management and author of Investing for the long term

    09:55 – 10:40 Panel: AGAIN SPAIN

    Does Spanish equities offer opportunities given the recovery of the economy?

    José Ramón Iturriaga, ABANTE - Gonzalo Lardiés, AyG - Frngel Fresnillo, MUTUACTIVOS

    10:45 – 11:30 Panel: OUT OF THE BOX

    Strategies other than traditional management to obtain uncorrelated returns

    Marc Garrigasait, KOALA AND PANDA - Juan Cruz, CYGNUS - Georgina Sierra, SOLVENTIS

    11:30 – 12:00 Coffee Break

    12:05 - 12:30 Presentation: Beltrán de la Lastra, BESTINVER

    The Chairman and Chief Investment Officer of Bestinver will comment on their investment style and the evolution of their portfolios

    12:35 - 13:00 Presentation Javier Rillo, IBERCAJA

    Looking for profitability through alternative management

    13:05 - 13:50 Panel: Is there value in fixed income?

    What to do in the most conservative portfolios in these days of low interest rates

    Pablo González, ABACO CAPITAL - Miguel Jiménez, RENTA 4 - Francisco Sainz, Imantia Capital

    14:00 – 15:30 Comida – Networking

    15:30 - 16:00 Presentation: Iván Martín, MAGALLANES

    The investment style and ideas of the chief investment officer at Magallanes Value Investors

    16:05 – 16:50 Panel: Next Gen

    The 'revelation' managers of the Spanish industry will comment on their strategies and investment cases

    Alejandro Estebaranz, TRUE VALUE - Javier Ruiz, METAGESTIÓN - Arturo Benito, ALPHA PLUS - Luis de Blas, VALENTUM

    16:55 - 17:25 Paper: Álvaro Guzmán de Lázaro, AZVALOR

    The philosophy of the chief investment officer and partner of azValor Asset Management

    17:30 Conclusion and closing