“The art of knowing how to wait”, but with a positive attitude
This post is especially important at this time of volatility for all those of us who are “value” investors and who have savings invested in equities.
05 · 04 · 2018
Selection, diversification, prudence, patience and perseverance
Some foundations invest their assets in equity funds too. One such example is Fundación Carmen Gandarias. Over the last 24 years, this Foundation has been able to use its yield of 489% to advance its social projects.
21 · 03 · 2018
The importance for an Asset Management Company of having a presence in London
Why is there an American, living in London, working with Madrid-based Cobas Asset Management?
07 · 03 · 2018
Volatility – Mind the Gap
Volatility has reared its ugly head again, panic (and blood) has struck wall street and Bitcoin-land. What should you do? Run? Fight? Play dead?
21 · 02 · 2018
Ingenious initiative for family savings
Promoting savings in the form of long-term investment is a core principle at Cobas and there are different ways of doing so. One of our investors tells us about an ingenious initiative he has developed to introduce the youngest members of his family to this line of thought.
01 · 02 · 2018
Value Investing, a work method
"Investing is fun, exciting and dangerous if you don't do your homework". Peter Lynch.
15 · 01 · 2018
Post from Japan: Why we invest in Asia
A few weeks ago, Francisco García Paramés and Mingkun Chan travelled around Japan to meet with several companies and investors in the country. As a result, in this post Mingkun explains why Cobas Asset Management invests in Asia, and what benefits it gives us to have a personal presence in that continent to thoroughly analyse their markets.
02 · 01 · 2018
A Christmas present that goes on giving
Every year around this time we think about a gift we should ask the Three Kings to bring our children which they'll be able to enjoy for a long time and that's also useful. Some time ago I opted for a long-term value investment for my daughters. They didn't understand it at first and called me a weirdo, but now they're more and more grateful with each passing day.
15 · 12 · 2017
The evolution of contrarian thinking
"I have known no wise people who didn't read all the time". Charlie Munger
04 · 12 · 2017
Munger, Buffett’s competitive advantage
Anyone who has ever paid any attention to the investment world knows the legendary Warren Buffett, but fewer people have heard of his partner and friend, Charlie Munger, and his major contribution regarding competitive advantages of companies.
16 · 11 · 2017
Value speak for the uninitiated
Investors who are new to us often ask about some of the concepts that we tend to employ in our letters and presentations. What follows are some informal definitions which should help understanding the logic behind our thinking.
02 · 11 · 2017
The journey to becoming a value investor
Over the last twenty years, investing in stocks - both directly and indirectly - has become ever more popular, rising fourfold. This has accompanied an increase in the range of possibilities on offer to investors.
15 · 10 · 2017
Qui resistit, vincit
Perseverance, patience and commitment to an investment philosophy are the indispensable cornerstones of value investing
01 · 10 · 2017
Breaking the bank
In his previous article – " To be or not to be… a fortune-teller, that is the question" – Andrés Allende made it very clear that in his opinion, in order to invest you do not need to guess, there is more to it than that, you need to get away from anything that is remotely similar. Now, the author offers us some key guidelines to follow to make a good investment.
15 · 09 · 2017
Passive and/or active management
The majority of those buying and selling on the Markets are not looking for value but rather profits, which are usually found in a cyclical and reckless manner between loss and loss. They are not looking for good businesses to buy, but rather winning tickers on which to bet.
01 · 09 · 2017
The daily life of an analyst
Being an analyst requires effort and perseverance so as to be well prepared, combined with an ability for continual learning and underpinned by a financial framework.
14 · 08 · 2017
Thank you for joining us
The Cobas Asset Management team would like to thank over 12,000 investors who have entrusted their savings to our great endeavour.
13 · 07 · 2017
To be, or not to be… a fortune teller
The virtuous circle of hard work at some point turned into the vicious circle of fortune telling. In many ways the toughest words in finance are “I DON´T KNOW”.
23 · 05 · 2017
Refinement
Refinement is the fruit of time, dedication, intelligence, a deepening of knowledge and maximum self-rigour
03 · 05 · 2017
Some of my value investing experiences
In the spring of 1991, two friends of mine encouraged me to get on board a venture headed up by Francisco García Paramés. Now, here I am again, with my money under Francisco's guidance, after so many years and such great returns – subject though they of course were to natural ups and downs over time.
03 · 05 · 2017
The best pension, a good investment
If we don't want our retirement to depend solely on economic circumstances, political decisions, birth rates or employment figures, the best option is to put our savings into a long-term investment plan
18 · 04 · 2017
DON´T be water, my friend
An investment philosophy must keep faith with certain immovable principles. We need to protect ourselves from our own emotions and biases.
04 · 04 · 2017
Optimism and the search for opportunities
Media noise and confusion makes it harder for us to see the bright side, which means the pursuit of investing becomes more complicated.
21 · 03 · 2017

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