The Evolution of Value Investing

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Quality investing has a long-term track record of outperformance that has stood the test of time. Value investing, on the other hand, has struggled in the last decade, leading some to question its merits. But one strategy,  the Jensen Quality Value Strategy, has a long history of successfully combining the two: buying high-quality companies below their intrinsic value and outperforming its mid-cap value peers.

In this webinar, you will learn:

• How businesses have evolved and what it means for value investors.
• What DCF models are and whether they are worth the extra effort.
• What constitutes a “quality” stock and why a consistent approach to identifying value are the keys to long-term outperformance.
• Why “deep value” may no longer deliver the returns that investors expect, and the role that “relative value” can play inside a manager lineup.
• Why value investors need to look for long-term partners to invest on their behalf.

Speakers

Adam Calamar, CFA
Portfolio Manager
Jensen

Joined Jensen Investment Management in 2008. Adam conducts fundamental and quantitative research for both the Jensen Quality Growth and Jensen Quality Value investment strategies. Adam previously held the position of Manager, Institutional Services at Jensen, where he assisted in relationship management with the company’s institutional clients. Adam began his career at Broadmark Asset Management, LLC, a hedge fund management company specializing in low-volatility equity strategies. He earned his BS and MBA degrees from Oregon State University, and has a broad background in finance, small business, and the sciences. Adam is a CFA charterholder and a member of the CFA Society of Portland, as well as the Portland Alternative Investment Association.

Richard Clark
Director, Sales and Marketing
Jensen

Joined the firm in 2001. Richard is responsible for sales and client service for advisor and intermediary channels. He began his career in the investment industry with Morgan Stanley and also worked with Merrill Lynch, spending three years as a financial advisor. Before entering the investment industry, Richard was a professional counselor. He was awarded the title of Youth Worker of the Year in the State of Texas for his work with at-risk teens. He earned a degree in Rehabilitation Studies with an emphasis in Psychology from The University of North Texas and an MHA from The University of Mary Hardin-Baylor.

Kurt Havnaer, CFA
Portfolio Manager
Jensen

Joined the firm in 2005. Kurt conducts fundamental research on potential companies as well as monitors portfolio companies.

Kurt spent nine years with Columbia Management Group, Inc. as a high yield analyst and co-portfolio manager of the Columbia High Yield Fund. Prior to joining Columbia, he held positions as Portfolio Manager, Analyst and Trader at SAFECO Asset Management in Seattle. Kurt’s career began as a Staff Accountant and Auditor at Price Waterhouse. He earned a BA in Business Administration from the University of Washington. He earned his MBA from Seattle University and is a Chartered Financial Analyst (CFA) charterholder.

Tyra Pratt, CFA
Portfolio Manager
Jensen

Joined Jensen Investment Management in 2017. Tyra conducts fundamental research for the Jensen Quality Value Strategy. Tyra joined Jensen from CTC | myCFO where she held the position of Hedge Fund Research Analyst. In that role, she was involved in the sourcing, due diligence and monitoring of hedge funds. Prior to CTC, Tyra worked as a Financial Analyst on the Consulting Services Team at M Benefit Solutions. Tyra earned her BA in Finance from Roger Williams University in Rhode Island and is a CFA charterholder.

Jorge Rivas, CFA
Portfolio Manager
Jensen

Joined Jensen Investment Management in 2017. Jorge conducts fundamental research for the Jensen Quality Value Strategy. Jorge joined Jensen from Craig-Hallum Capital Group where he held the position of Sell-Side Equity Research Associate Analyst. In that role, Jorge performed fundamental analysis on primarily Small to Mid- capitalization companies in the Semiconductor space. He earned a BS in Business and an MBA from the University of Saint Thomas, MN and is a CFA charterholder.

Eric Schoenstein
Managing Director, Portfolio Manager
Jensen

Joined the firm in 2002. Eric is chairman of the Investment Committee and coordinates the fundamental research conducted across the investment team. Eric spent nearly fourteen years with Arthur Andersen LLP, as a Senior Audit Manager, providing a wide variety of services to clients of all sizes in both the public and private sectors. He earned a BS in Business Administration, with a focus in Accounting, from Oregon State University. Eric is currently serving as a trustee for the Oregon State University Foundation and is a past president of the Oregon State University Alumni Association. He serves as a director for the Western Golf Association, which administers and oversees the Evans Scholars Foundation and serves on the Executive Committee for the Oregon Golf Association, currently as its Treasurer and immediate past President.

Robert Huebscher
CEO and Founder
Advisor Perspectives

Robert Huebscher is the founder and CEO of Advisor Perspectives and serves as its editor-in-chief. He is a frequent speaker at industry conferences and has written extensively on topics including investment management, portfolio construction, financial planning and global economics.