Francisco García Paramés, often called 'Spain's Warren Buffett,' has managed the Cobas Internacional fund to an average annual return of 20% over the past five years. The fund is worth approximately €1.2 billion.
Cobas Internacional fonunun son beş yıldaki yıllık ortalama getirisi.
Paramés describes his approach as buying companies trading below intrinsic value and waiting patiently. He credits the investment philosophies of Peter Lynch and Warren Buffett as providing a framework, and says he focuses on companies' intrinsic value rather than macroeconomic predictions.
Buy companies trading below intrinsic value and wait patiently.
Other asset management firms in Spain, including Azvalor Asset Management, Magallanes Value Investors, and A&G Global Investors, have adopted similar value investing strategies. Madrid has become one of Europe's important value investing hubs.
According to Morningstar, value investing funds' global equity market share has fallen from 13% in 2008 to 7.5% currently. A possible correction in tech stocks could bring renewed attention to value funds.