Spring 2017
Graham & Doddsville, issue 30 · 44 pages
Page numbers are the ones your PDF viewer shows. Each one opens the PDF at that page; if your browser lands on page 1, scroll to the number. Open the full issue on Columbia's site ↗
Interviews
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p. 1 ↗
A. Rama Krishna
ARGA Investment Management
Rama applies value investing worldwide, with a focus on emerging markets. He explains why ARGA put nearly a quarter of its emerging-markets portfolio in Russia when other investors were leaving.
InternationalDeep value -
p. 1 ↗
Clifford Sosin
CAS Investment Partners
Cliff runs a very concentrated, long-term book. He goes deep on two controversial ideas, Herbalife and World Acceptance, and gives some unusual career advice.
Portfolio constructionCareer advice -
p. 1 ↗
Christopher Begg
East Coast Investment Management
A Security Analysis adjunct at CBS on compounders, transformations and workouts, high-quality businesses that get overlooked like Sherwin-Williams, and learning across disciplines.
Quality compoundersCareer advice
Student pitches
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p. 28 ↗
Long Yum China
By Windsor Cristobal, Anji Lin and Isabella Lin
A two-year target 35% above the price, with earnings per share the team expected to grow 64% in three years.
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p. 30 ↗
Long Alaska Air Group
By Chris Waller, SK Lee and HK Kim
Alaska, Virgin America and Horizon together make the fifth-largest US carrier. The team saw 154% upside over 5 years.
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p. 32 ↗
Long Corning
By Griffin Dann, Joseph O'Hara and Vikas Patel
The team argues the market undervalues Corning's core assets and overlooks growth in optical fiber and Gorilla Glass.
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p. 34 ↗
Long Dollarama
By Gustavo Campanhã, Gilberto Giuzio and Thiago Maffra
New stores could triple earnings per share in five years, with five times as much reward as risk.