Pzena Investment Management

Shows

PzenaPerspectives The Value Stocks to Watch - 2026In this episode, a selection of our Portfolio Managers across different strategies weigh in on their 'stocks to watch' for the upcoming year. Thanks to:Rich Pzena, Founder, Co-CIO and Portfolio ManagerJohn Flynn, Portfolio Manager Takashi Okumura, Portfolio Manager Jason Doctor, Portfolio Manager Akhil Subramanian, Portfolio Manager John Goetz, Co-CIO and Portfolio ManagerEvan Fox, CFA, Portfolio Manager Dan Babkes, Portfolio Manager Miklos Vasarhelyi, Portfolio Manager Further Information This recording is for institutional investors, and in the UK for professional investors and eli...

2026-02-1253 min

PzenaPerspectives 2026 Global Outlook for ValueCo-CIO and Portfolio Manager John Goetz and Portfolio Manager Dan Babkes discuss our 2026 global outlook, hosted by Director of Business Development and Client Services, Adrian Jackson. Their discussion covered momentum investing cycles, their impact, and how opportunities have shifted our portfolios for 2026. The discourse is followed by a live Q&A session. Further Information This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to...

2026-01-2853 min

PzenaPerspectives 30 Years at Pzena: Lessons from the Past, Vision for the FutureIn honor of Pzena Investment Management's 30th Anniversary, founder Rich Pzena and CEO Caroline Cai consider the firm's past and future on our latest podcast. With host Lisa Roth they discuss three decades of lessons learned as unwavering value investors, lessons about both investing and leadership, and applying that wisdom in the next generation. Further Information This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and a...

2025-12-0239 min

Compound Insights Unpacking Value Investing with Rich PzenaRich Pzena, Chairman and Co-CIO of Pzena Investment Management, shares the principles and framework for the company's disciplined value approach underpinning its approximately $80 billion in assets under management. In addition, he weighs in on where he finds value opportunities today, portfolio construction and overall market trends.

2025-11-1739 min

PzenaPerspectives Extreme Valuations & Durable Fundamentals: The Case for Small Caps GloballyTyler Zedalis, Director of Client and Portfolio Services, sits down with Portfolio Manager Evan Fox, CFA to discuss Global Small Caps, the valuation gap between GSC and Large Caps, and what it could mean for active investors focused on fundamentals. Further Information This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is...

2025-10-1424 min

PzenaPerspectives From Controversy to Conviction: Pzena’s Approach to International Small CapsTyler Zedalis, a Director of Client and Portfolio Services, sits down with Portfolio Manager Jason Doctor to discuss Pzena's International Small Cap strategy. Further Information This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These materials are intended sol...

2025-09-1622 min

PzenaPerspectives 2025 Mid-Year Global Outlook for Value WebinarCo-CIO and PM John Goetz and PM Evan Fox discuss our mid-year global outlook and how markets react in volatile times, hosted by Director of Business Development and Client Services, Paul Whymper-Williams. Their discussion covers Pzena’s perspective on the turbulence that has defined 2025, value’s role in volatile markets, and where we’re finding opportunity today. The discourse is followed by a live Q&A session. Click here to view the chart referenced at 28:07. Further Information This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any...

2025-07-2947 min $The Acquirer\'s Multiple®$

The Acquirer's Multiple®Weekly Investing Roundup – News, Podcasts, Interviews (06/27/2025)This week’s best investing news: The Way to Win w/ Bill Nygren (RWH) How Countries Go Broke — Ray Dalio on why timing is everything (FT) AQR’s Cliff Asness Sides With Jim Chanos in Critique of Michael Saylor’s Strategy (Bloomberg) Ken Griffin on Building Citadel, AI & Independent Thinking (S&P) The Real Estate Drag on Corporate Japan (Verdad) Michael Mauboussin on valuation, capital allocation & competitive advantage: Create More Value (Fortuna) How Richard Pzena Teaches You to Think: Moats and Valuation (Thematic) Wharton’...

2025-06-2700 min

QAV America (free feed)QAV AMERICA 006 – Blood on the Balance Sheet In this episode of **QAV America**, Cameron and Tony dive into the volatile world of commodities, classic value investing strategies, and a surprising value opportunity in **Ford Motor Company (F)**. They unpack how iron ore and wheat commodities are back in a buy state, dig into Rich Pzena’s investing philosophy from a **Tobias Carlisle** interview, and debate whether Ford is a deep value play or a trap. With historical nods to **Cisco (CSCO)**, **GE (GE)**, and **U.S. Steel (X)**, the episode blends macro insights, personal investing war stories, and a no-BS breakdown of Ford’s financials and risk...

2025-05-211h 26

QAV Investing Podcast (Free Edition)QAV 820 — Wet Lettuce WatchdogsIn this episode, Cameron and Tony tackle the political earthquake caused by the breakup of Australia’s Federal Coalition, dig into the implications of the RBA’s latest rate cut, and explore how the U.S. credit downgrade might ripple through markets. We hit hot topics from taxing unrealized gains to a lesson in value investing resilience through the lens of a Tobias Carlisle interview with Rich Pzena. We close with a deep pulled pork on Cettire Ltd (CTT), the controversial drop-shipping retailer that’s either misunderstood genius or speculative flameout. Plus: the ASX plays dumb, and Helen Mirren gets name-d...

2025-05-2026 min

The Acquirers Podcast Legendary value investor Rich Pzena on his 30-year career and the opportunity today | S07 E15Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. See our latest episodes at https://acquirersmultiple.com/podcastWe are live every Tuesday at 1.30pm E / 10.30am P.About Jake Jake's Twitter: https://twitter.com/farnamjake1Jake's book: The Rebel Allocator https://amzn.to/2sgip3lABOUT THE PODCASTHi, I'm Tobias Carlisle. I launched The Acquirers Podcast to discuss the process of finding undervalued stocks, deep value...

2025-05-121h 01

PzenaPerspectives Tariffs and TurbulenceToday’s episode features Portfolio Manager John Flynn and Director of Business Development and Client Services Adrian Jackson. They discuss the topical subject of tariffs through the lens of a risk management framework of the business investment process. For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. PIM is...

2025-04-1426 min $The Acquirer\'s Multiple®$

The Acquirer's Multiple®Weekly Investing Roundup – News, Podcasts, Interviews (03/21/2025)This week’s best investing news: Berkshire Hathaway’s 2025 Proxy Statement (BH) Fundsmith 2025 Annual Shareholders’ Meeting (Fundsmith) Buffett Hates Selling Anything. The Sale of Berkshire’s Real Estate Unit Would Be Unusual (Barron’s) Three Reasons we’re Overweight Japanese Equities (GMO) Navigating Turbulence (Verdad) Oakmark Funds: Addressing Oakmark shareholder questions (Oakmark) Fairfax Is Enjoying a Favorable Moment (Morningstar) Pzena Investment Management: International small-cap update (Pzena) Avoid the Unforced Investment Errors Even Billionaires Make (Bloomberg) Ray Dalio and Salesforce’s Benioff on A...

2025-03-2100 min

PzenaPerspectives The Value Stocks to Watch - 2025In this episode, a selection of our Portfolio Managers across different strategies weigh in on their 'stocks to watch' for the upcoming year.Thanks to:John Goetz, Co-CIO & Portfolio ManagerMatthew Ring, Director of Research & Portfolio ManagerAkhil Subramanian, Portfolio ManagerEvan Fox, CFA, Portfolio ManagerMiklos Vasarhelyi, Portfolio ManagerTakashi Okumura, Portfolio ManagerDaniel Babkes, Portfolio Manager This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views...

2025-03-1434 min

PzenaPerspectives 2025 Global Outlook for ValuePresident/PM Allison Fisch and Co-CIO/PM Rich Pzena discuss the benefits of a disciplined approach to value investing in today’s market, hosted by Global Head of Consultant Relations, Dean Papas. The discourse is followed by a live Q&A session. Topics include: outlook for value in 2025 continued impact of concentrated markets the opportunity for stocks outside the US For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Man...

2025-01-3156 min

PzenaPerspectives Exploring the Impact of AI on Global Equity MarketsAs AI dominates headlines and reshapes market dynamics, how should value investors navigate this rapidly evolving landscape? Portfolio Manager and Director of Research Matt Ring and Partner and member of our Client Services team Tyler Zedalis discuss the ripple effects of AI across industries, the importance of valuation discipline, and how we use AI to enhance—but never replace—our fundamental research process. For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for i...

2024-12-0512 min

PzenaPerspectives Value Investing During DrawdownsDisclosure For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. PIM is a registered investment adviser registered with the United States Securities and Exchange Commission. Neither the speaker nor PIM undertake to advise you of any changes in the views expressed herein. There is no guarantee that any projection, forecast, or opin...

2024-10-2416 min

PzenaPerspectives Why Invest Outside the USIn today’s episode, our Director of National Accounts Peter Quinn speaks with Portfolio Manager and Co-Chief Investment Officer John Goetz about the current opportunity in non-US equities. For additional context on the data presented don’t miss our written piece, “Why Invest Outside the US?” available on www.pzena.com. For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as o...

2024-09-2317 min

PzenaPerspectives The Power of Patience: Unlocking Value Investing's Long-Term RewardsCEO/Portfolio Manager Caroline Cai and Founder/Portfolio Manager Rich Pzena discuss the current opportunity for disciplined value investors, hosted by Director of Business Development and Client Services, Kate Phillips. The discourse is followed by a live Q&A session. Topics include: the importance of having a long-term perspective the continuing impact of concentrated markets the opportunity in Chinese equities For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The...

2024-07-2545 min

PzenaPerspectives Building on Value: A New Opportunity in CreditOur Vice Chairman Bill Lipsey sits down with Founder Rich Pzena and our Head of Leveraged Loans/High Yield Credit Mark Heron to discuss the launch of the Pzena Focused Credit Opportunities strategy – including how it came to be, how it aligns with our value philosophy, and how it benefits from the industry expertise of our equity research team. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. […]

2024-06-2025 min

2024-06-1319 min

Deconstructing Alpha Ep 27 Rich Pzena - Opportunities in value investingI have been waiting a long time to host a quality podcast about value investing. As most of you know, the investment world has been dominated by growth and technology themes over the last 2 years. But how does that leave the rest of the investable universe? Value stocks, small stocks, international stocks, and especially emerging markets stocks have been left behind by a very narrow thematic flow of capital to just seven stocks. Are value stocks and value themes now a bargain here? Is international investing still relevant? And where can investors look for future outsized returns? These are just a...

2024-05-0251 min

PzenaPerspectives The Case for China: Investing Beyond the HeadlinesPortfolio Managers Allison Fisch and John Goetz discuss value opportunities in the Chinese market. Recording Date: April 2024 For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. PIM is a registered investment adviser registered with the United States Securities and Exchange Commission. Neither the speaker nor PIM undertake to advise you of any changes in the views […]

2024-04-1229 min

PzenaPerspectives Pzena's Best Ideas 2024Want to know Pzena’s “best ideas”? Portfolio managers discuss the stocks they are finding most interesting right now on the latest episode of PzenaPerspectives. Recording Date: February 2024 Disclosure For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. PIM is a registered investment adviser registered with the United States Securities and Exchange Commission. Neither the speaker nor PIM […]

2024-03-1120 min

PzenaPerspectives Pzena's Best Ideas 2024Want to know Pzena's "best ideas"? Portfolio managers discuss the stocks they are finding most interesting right now on the latest episode of PzenaPerspectives. Recorded: February 2024 Disclosure For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. PIM is a registered investment adviser registered with the United States Secu...

2024-02-2729 min

PzenaPerspectives 2024 Global Outlook for ValueCo-CIO and Portfolio Manager John Goetz and Portfolio Manager Dan Babkes discuss the current opportunity for disciplined value investors. Topics include: · Finding value when the equity risk premium is low · The opportunity in China for value investors · The impact of the “Magnificent Seven” (January 2024) For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change...

2024-01-1655 min

PzenaPerspectives Finding Value in ChinaPortfolio Manager Akhil Subramanian and Co-Chief Investment Officer John Goetz discuss the current opportunity in China for value investors, including companies they find most compelling (Haier, China Overseas Land & Investment, Alibaba) on the latest episode of PzenaPerspectives. Recording Date: December 13, 2023 These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. PIM is a registered investment adviser registered with the United States Securities and Exchange Commission. Neither the speaker nor PIM undertake to advise you of any...

2023-12-1831 min

2023-12-1331 min

Wisdom, Wealth, and Wellness Joel Greenblatt — Beyond the Index: Emotions, Behavior, and Investing SuccessJoel Greenblatt is a preeminent investor, author, and educator, best known as the founder of Gotham Capital, an investment firm that achieved remarkable returns for over two decades. He's written highly acclaimed books such as “The Little Book that Beats the Market” and “You Can Be a Stock Market Genius.” Joel co-founded the Value Investing Program at Columbia Business School.Topics:Strategies behind Joel's enviable track recordInterplay between quantitative and qualitative methodsAge-old debate between active and passiveWatch clips:How Joel Greenblatt Picks StocksJoel Greenblatt's Easiest Investme...

2023-11-1433 min

Business Breakdowns Olin: Chemistry and Cash FlowsThis is Matt Reustle and today we are breaking down Olin Corporation. Olin is a key player in industrial chemicals but many of those chemicals are used in products that we encounter on a day-to-day basis. To break down Olin, I'm joined by Yinan Zhao from Pzena Investment Management. Together we cover the chlor-alkali market, what it means to be the lowest-cost producer of a given commodity, and how Olin has shifted its business model and its operational model to help sustain earnings through cycles. Please enjoy this breakdown of Olin Corp.Interested in...

2023-10-1858 min

PzenaPerspectives Active Value AdvantagePortfolio Manager John Flynn and Director of Business Development & Client Services Adrian Jackson discuss value investing, taking a deep dive into the historical return profile of the asset class and addressing common misconceptions around the risks of value stocks. John also exposes the flaws of seeking value exposure through value indices and “value-light” strategies. Recording Date: October 6, 2023 These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. PIM is a registered investment adviser registered with the Unit...

2023-10-1719 min

PzenaPerspectives 2023 Mid Year Outlook for ValueCo-CIO Rich Pzena and Portfolio Manager Miklos Vasarhelyi discuss the current opportunity for disciplined value investors. Topics include: · The YTD growth outperformance driven by mega-caps, and the associated historical context · Our view of the banking sector in both the US and Europe · Where we are finding value now Recording Date: July 25, 2023

2023-08-1047 min

Opto Sessions – Invest in the Next Big Idea How Top Investors Achieve Alpha: Sprott, Tema, GinsGlobal & PzenaGet Opto’s best content every day by subscribing to our FREE Newsletter: www.cmcmarkets.com/en/opto/newsletterWelcome to our Alpha Study series, where we collect insights from top investors & business leaders to better understand how they get their edge.In this exclusive episode, John Ciampaglia, CEO of Sprott Asset Management, a champion of precious metals investing, discusses how the firm's focus on metals and mining gives them a competitive edge in the thematic ETF space. Yuri Khodjamirian, CIO of Tema ETFs, a newly launched platform offering actively managed thematic funds, re...

2023-07-2717 min

Opto Sessions – Invest in the Next Big Idea Time to Invest in Emerging Markets?Get Opto’s best content every day by subscribing to our FREE Newsletter: www.cmcmarkets.com/en/opto/newsletterEmerging markets offer unique opportunities and challenges for investors, and understanding the key themes driving these markets is crucial. In this compilation episode, different experts from companies such as BlackRock, JPMorgan and Pzena Investment Management highlight both the challenges and the great potential they offer. The rise of the consumer class, driven by the emergence of the middle class, especially in Asian markets, presents a powerful secular trend. Innovation and technology, including blockchain and digi...

2023-05-3120 min

PzenaPerspectives The Big Opportunity in Small StocksIn this episode, Portfolio Managers Evan Fox and Matt Ring sit down with Pzena’s Co-Head of North American Distribution, Valerie Mignone Arnold to discuss the attractive valuations of small cap stocks across the globe. Recording Date: May 8, 2023 Disclosure For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. PIM is a registered investment adviser registered with th...

2023-05-1619 min

Opto Sessions (Video)Rakesh Bordia - Emerging Markets: Finding Value in A Diverse LandscapeGet Opto’s best content every day by subscribing to our FREE Newsletter: www.cmcmarkets.com/en/opto/newsletterToday, we are pleased to introduce Rakesh Bordia, Principal and Portfolio Manager at Pzena Investment Management, an American firm with recognised expertise in deep value investing.In this episode, Rakesh brings his understanding of emerging markets to the forefront, shedding light on Pzena's value approach to investing. He delves into the opportunities and challenges of investing in EM, sharing valuable insights on the crucial valuation metrics that Pzena considers.Rakesh also emphasises the significance of a long-term hor...

2023-04-2043 min

Opto Sessions – Invest in the Next Big Idea Rakesh Bordia - Emerging Markets: Finding Value in A Diverse LandscapeGet Opto’s best content every day by subscribing to our FREE Newsletter: www.cmcmarkets.com/en/opto/newsletterToday, we are pleased to introduce Rakesh Bordia, Principal and Portfolio Manager at Pzena Investment Management, an American firm with recognised expertise in deep value investing.In this episode, Rakesh brings his understanding of emerging markets to the forefront, shedding light on Pzena's value approach to investing. He delves into the opportunities and challenges of investing in EM, sharing valuable insights on the crucial valuation metrics that Pzena considers. Rakesh also emphasises the significance of...

2023-04-2041 min

PzenaPerspectives Banks, Volatility, and ValueIn this episode, Portfolio Manager John Flynn and Senior Research Analyst Eric Hagemann sit down with Pzena’s Co-Head of North American Distribution, Valerie Mignone Arnold to discuss the recent volatility and the banking crisis through the lens of value investors. Recording Date: April 11, 2023 Disclosure For Professional Investors Only. This recording is for institutional investors only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an in...

2023-04-1720 min

PzenaPerspectives ESG Opportunity ListAdrian Jackson hosts this lively discussion where Portfolio Manager John Flynn and ESG Research Analyst Luke Longinotti discuss Pzena’s approach to ESG. Pzena’s Opportunity List seeks to systematically identify opportunities in our portfolio where material ESG issues exist and engagement could have a positive impact. Recording Date: March 9, 2023 Disclosure For Professional Investors Only. This recording […]

2023-03-3024 min

PzenaPerspectives 2023 Outlook for Value WebinarCEO and Portfolio Manager Caroline Cai and President and Portfolio Manager Allison Fisch discuss the 2023 outlook for value in this special episode of the PzenaPerspectives podcast. Recording Date: January 25, 2023 Disclosure For Professional Investors Only. This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. These materials are intended solely for informational purposes. The views expressed reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof and are subject to change. PIM is a registered investment adviser registered with the U...

2023-02-2846 min

PzenaPerspectives Succession is a Process, Not an EventFounding partners Rich Pzena and Bill Lipsey discuss the process of succession and the next generation of leadership in this special episode of the PzenaPerspectives podcast. Recording Date: January 3, 2023 Disclosure This recording is for institutional investors. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These materials are intended solely for informational purposes. The views...

2023-01-0527 min

Value Investing with Legends Andrew Wellington & Dan Kaskawits - Finding the Gems Amid the Junk"Right next to the really cheap junk, there are some really cheap gems." Welcome to a new season of the Value Investing with Legends podcast! We're delighted to welcome our first guests for the season, Andrew Wellington and Dan Kaskawits from Lyrical Asset Management. In 2008, Andrew started the firm with three core pillars of investing: value, quality, and analyzability. That approach leads them to focus on building concentrated portfolios that generate great returns through the core principles of value investing with a long-term time horizon. Andrew Wellington...

2022-12-161h 12

PzenaPerspectives The Value Opportunity in Europe: As Cheap As It Gets?Portfolio Manager Miklos Vasarhelyi and Co-Chief Investment Officer John Goetz discuss the current opportunity in Europe for value investors, including some specific companies they find most compelling on the latest episode of the PzenaPerspectives podcast. Recording Date: October 11, 2022 Disclosure This recording is for institutional investors. Any views and statements expressed in this recording […]

2022-10-2434 min

PzenaPerspectives Value Opportunities in an Uncertain WorldMuch has changed since our 2022 outlook – a war, energy price shocks and broader inflation, Fed rate hikes, and recession concerns, to name a few. With equity markets under pressure, where do value stocks stand? Portfolio Manager Allison Fisch and Co-Chief Investment Officer John Goetz discuss their mid-year outlook. (Recorded in July 2022) Disclosure […]

2022-10-0535 min

Opto Sessions – Invest in the Next Big Idea Caroline Cai - Finding Deep Value in Emerging MarketsGet Opto’s best content every day, by subscribing to our FREE Newsletter:www.cmcmarkets.com/en/opto/newsletterThis week I had a wonderful conversation with Caroline Cai, Executive Vice President at Pzena Investment Management. She is also the co-portfolio manager at Pzena for the Global, International, European, and Emerging Markets strategies where she invests in deep value stocks. This strategy seeks to identify good-quality companies at low valuations, that are underperforming compared to their historic earnings potential. At Pzena, “Value isn’t a factor, it's a philosophy.”In this interview, we discuss which eme...

2022-09-2939 min

PzenaPerspectives A Look Into A Management Meeting with Lear CorpAuto supplier Lear’s profitability has been impacted by cost pressures and the supply chain, but its operating flexibility and product portfolio should help it thrive, as the industry normalizes and electrifies. Listen in on a real-life manager’s meeting with Lear CEO Ray Scott, Lear CFO Jason Cardew, and Pzena Portfolio Manager’s Ben Silver, Andrew Chung […]

2022-07-2136 min

PzenaPerspectives Value Investing: The Recovery of HopeManaging Principal and Co-Chief Investment Officer John Goetz touches on uncertainty — the quick, fearful response to geopolitical shocks and macro concerns — and the recovery of hope that typically sets the stage for strong value-stock returns. Recording Date: May 12, 2022 Disclosure This recording is for institutional investors, and in the UK for […]

2022-05-3131 min

Multi-Manager People Podcast Perspectives on value – meeting Pzena Investment ManagementOur recent (and much delayed) US research trip finished with a visit to New York and the offices of deep value specialist Pzena Investment. Adam and Scott chat to founder Richard Pzena about his approach to value investing – cheap doesn’t necessarily mean value so how do Richard and his team differentiate between good and bad investments? Richard also discusses how his father inspired him into investing, although he may have been a bit too early in a now very hot investment area…

2022-05-3031 min

Value Investing with Legends Allison Fisch - Unlocking Value in Emerging MarketsWelcome back to Season 7! From the move to Manhattanville to the new curriculum for the value investing program at The Heilbrunn Center, there have been many changes since we wrapped our last season at the end of 2021. Outside of that, a lot has happened in the markets. We've seen significant drawdowns in some growth stocks, conversations are centered around inflation and stagflation, and the geopolitical situation is bleak after the atrocious Russian invasion of Ukraine. For our upcoming episodes, we're exploring different aspects of how to navigate the...

2022-05-2047 min

PzenaPerspectives Interview with REV Group Inc. CEO, Rod RushingAs value investors, we look for good companies with temporary problems, and found one such opportunity in specialty vehicle manufacturer REV Group. Portfolio Manager Evan Fox is joined by REV Group CEO Rod Rushing on the latest episode of the PzenaPerspectives podcast. Recording Date: March 31, 2022 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute i...

2022-04-2748 min

Capital Literature Pzena Investment Management 1Q22Pzena Investment Management, 1st Quarter 2022"Geopolitical shocks have usually been short-term in nature. We believe fundamentals for an enduring value cycle remain intact."The Capital Literature Podcast brings you investment letters in audio. Capital Literature is a Sebids Capital service for the investment community.Follow @sebidscap and @CapitalLit on Twitter and become part of our community.Disclaimer: This podcast is for informational and educational purposes only and should not be relied upon as a basis for investment decisions. All rights belong to th...

2022-04-2107 min

PzenaPerspectives Highlighted Holding Podcast - AmbevBeer is big business for Ambev, the dominant producer and distributor of brew in Latin America and Canada. Near-term margin pressures provide a rare opportunity to invest in this market leader at a compelling valuation. Portfolio Manager Allison Fisch and Research Analyst Lawrence Paustian discuss Pzena’s investment in Ambev on the latest episode of the PzenaPerspectives podcast. Recording Date: January 25, 2022 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Inv...

2022-02-0119 min

PzenaPerspectives Highlighted Holding - Fresenius Medical CareThe impact of COVID-19 on Fresenius Medical Care is inherently transient. At the same time, favorable industry trends are emerging, the benefits of which should largely accrue to the world’s preeminent dialysis company. Senior Research Analyst Eric Hagemann and Portfolio Manager John Flynn discuss Pzena’s recent investment in Fresenius Medical Care on the latest episode of the PzenaPerspectives podcast. Recording Date: November 11, 2021 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those...

2021-11-2328 min

The Acquirers Podcast Value After Hours S03 E42: Pzena Value and Quality; $TSLA, and NFT Bubble; and Cynefin frameworkValue: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, Bill Brewster and Jake Taylor. See our latest episodes at https://acquirersmultiple.com/ About Jake: Jake is a partner at Farnam Street. Jake's website: http://farnam-street.com/vah Jake's podcast: https://twitter.com/5_GQs Jake's Twitter: https://twitter.com/farnamjake1 Jake's book: The Rebel Allocator https://amzn.to/2sgip3l About Bill: Bill runs Sullimar Capital Group, a family investment firm. Bill's website: https://sullimarcapital.g...

2021-11-0859 min

PzenaPerspectives The Utility of ESG Scores in the Investment ProcessESG analyst Rachel Segal and Portfolio Manager Rakesh Bordia examine the relationship between ESG scores and investment performance, and observe that there is a significantly stronger relationship between investment performance and a company’s potential for ESG improvement, as compared to the company’s ESG score. Recording Date: May 14, 2021 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not...

2021-05-1922 min

Gaining Perspective Rich Pzena on the Outlook for Value InvestingPzena Investment Management is well-known among financial institutions but is new to the advisor community. The firm was started by Rich Pzena, my guest today, in late 1995. It ended the first quarter of 2021 with $49.2 billion in AUM, which is an all-time high, and it has had positive net flows for the past four years. Rich and I will talk about the global deep value discipline his firm is known for, as well its concentrated, high-active-share strategies, and its bottom-up methodology that is focused on company-level research.

2021-05-1342 min

PzenaPerspectives Highlighted Holding - MichelinMichelin’s business franchise is, in many ways, second-to-none: technical leadership, brand loyalty, and premium pricing. A comprehensive restructuring plan is aimed at delivering structurally higher profitability. Research Analyst Akhil Subramanian and Co-CIO John Goetz discuss Pzena’s research process and our view of the opportunity. Recording Date: April 29, 2021 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not...

2021-05-1123 min $Validea\'s Guru Investor Podcast$

Validea's Guru Investor Podcast Weekly Highlights: The Basics of Low Volatility Investing, How Migration Drives the Value Premium and Greenblatt and Pzena on Value InvestingIn our weekly summary of the best posts on the Guru Investor blog, Jack Forehand and Justin Carbonneau discuss the original content we produced and their favorite outside articles we featured on the blog for the week ending 4/30/2021. The Posts We Discuss Some Thoughts on Low Volatility Investing – Validea's Guru Investor Blog Academic Research Spotlight: Migration by Eugene Fama and Kenneth French (Ep. 85) – Validea's Guru Investor Blog Hedge Fund Short Trade Collapses While Longs Rise – Validea's Guru Investor Blog Greenblatt and Pzena on Active Management in 2021 – Validea's Guru Investor Blog...

2021-04-3012 min

PzenaPerspectives Energy Investments in a Zero-Carbon WorldCo-CIO John Goetz, energy analyst TVR Murti, and ESG analyst Rachel Segal discuss the opportunities presented by the upcoming transition for the energy sector. Recording Date: March 12, 2021 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These materials are i...

2021-03-1734 min

PzenaPerspectives Value Investing Masterclass: Joel Greenblatt and Rich PzenaListen to a discussion on value investing by legendary investors and long-time friends Joel Greenblatt (Gotham Funds) and Rich Pzena (Pzena Investment Management), moderated by investment strategist Steve Galbraith. Recording Date: March 4, 2021 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of...

2021-03-1059 min

PzenaPerspectives 2021 Outlook for ValueCEO/Co-CIO Rich Pzena and Portfolio Manager Allison Fisch talk about the turn in value’s favor and what’s in store in 2021. Recording Date: January 27, 2021 For slides accompanying this podcast, visit https://www.pzena.com/2021-outlook-for-value-podcast/ Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These...

2021-02-0547 min

The Acquirers Podcast Lyrical Value: Andrew Wellington on deep value and quality with Tobias Carlisle on the Acquirers PodcastAndrew Wellington co-founded Lyrical Asset Management and serves as the firm’s Chief Investment Officer. Mr. Wellington has been involved with active portfolio management for almost twenty years. He was a founding member of Pzena Investment Management, where he was the original equity research analyst, and later became a principal and portfolio manager. He then went on to Neuberger Berman where he became the sole portfolio manager for their institutional mid‐cap value product, growing that product from $1 billion to $3.3 billion in AUM, and earning a five-star Morningstar rating. He also was a managing director at New Mountain Capital, wher...

2021-01-0448 min

PzenaPerspectives The Beginning of the Great Rotation to Value?Co-CIO John Goetz discusses the drivers of a potential rotation back to sensible valuations, then answers questions about the current state of value investing and what the future may hold. Recording Date: December 10, 2020 For slides accompanying this podcast, visit https://www.pzena.com/the-beginning-of-the-great-rotation-to-value-podcast Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance...

2020-12-2934 min

PzenaPerspectives Giving Credit: Emerging Markets BanksPortfolio Manager Rakesh Bordia and Senior Research Analyst Jason Doctor discuss the investment opportunity in emerging markets banks. Recording Date: November 30, 2020 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These materials are intended solely for informational purposes. The views expressed reflect the current views of P...

2020-12-0830 min

CFA UK Episode 12: Managing Value Portfolios During Covid-19Listen to Bo Huang, CFA talk to Caroline Cai, CFA, Managing Principal and Portfolio Manager at Pzena, on her approach to managing value portfolios during the pandemic.

2020-11-2415 min

PzenaPerspectives Staying the Course, or Why Being a Disciplined Value Investor is so Hard!Listen as our CEO/Co-CIO Rich Pzena and President Bill Lipsey discuss Pzena Investment Management's value investing discipline and explain why we're staying the course when others deviate. Recording Date: November 12, 2020 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These materials are intended solely for i...

2020-11-1720 min

PzenaPerspectives Value: If Not Now, When?Value is not dead. Portfolio Managers Caroline Cai and Ben Silver discuss value’s underperformance and potential catalysts that may already be signaling a shift from growth to value. Recording Date: October 19, 2020 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These materials are intended solely for...

2020-10-2929 min

PzenaPerspectives Rare Opportunity in Small Cap StocksThe cheapest small cap stocks (based on our valuation) are trading at some of the lowest levels we've seen in almost a decade. Portfolio Manager Evan Fox and Senior Research Analyst Eric Hagemann discuss some of the opportunities we've uncovered. Recording Date: August 14, 2020 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is...

2020-08-2734 min

PzenaPerspectives Questioning Conventional Wisdom on Risk and ReturnWe think average 10-year returns present a fair picture of investment skill. But how to measure risk? The Sharpe ratio compares long-term returns with short-term volatility (standard deviation of monthly returns); we see the standard deviation of our 10-year returns as a better measure. Rich Pzena and Bill Lipsey provide a deep value perspective on risk and return. Recording Date: July 8, 2020 Disclosure This podcast discusses the applicability of past performance, risk metrics and valuation methodologies when assessing the performance of an Investment Manager. The views that are stated on these subjects are the...

2020-07-1317 min

PzenaPerspectives Global Banks: Resilience in the Face of CrisisAgainst the volatile backdrop of today’s economic environment, bank stocks stand out. In our view, the banking system today can sustain a once-in-a-century level of loan losses without meaningful dilution to equity owners. Portfolio Manager John Flynn and Senior Research Analyst Eric Hagemann analyze today's value opportunity in global banks. Recording Date: June 16, 2020 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are su...

2020-06-2437 min

PzenaPerspectives The Staying Power of Global Businesses in an Environment of Extreme UncertaintyUncertainty is at exceptional levels. The halt in activity today is unlike slowdowns we’ve seen before, and it’s affecting companies in a variety of ways. Our co-CIO John Goetz and portfolio manager Allison Fisch discuss our efforts to understand what bad looks like, company by company, and the research necessary to evaluate if companies can survive a prolonged downturn. Recording Date: April 24, 2020 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzen...

2020-04-2938 min

PzenaPerspectives The Next Great Depression or the Next Value Opportunity?The next depression? A virus-driven recession? Cyclical recovery? How long? How deep? Our CEO discusses value investing during the COVID-19 crisis. Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These materials are intended solely for informational purposes. The views...

2020-04-2333 min

PzenaPerspectives Investment Management in Times of CrisisCEO and Co-CIO Rich Pzena talks with our President Bill Lipsey to explain how Pzena Investment Management is conducting business and managing portfolios during the COVID – 19 crisis. They discuss: The strength of our business Comparisons to previous crises during our 25-year history The extreme opportunities created by these volatile markets Recording Date: March 17, 2020 Disclosure This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to...

2020-03-1735 min

PzenaPerspectives GE: A Classic Value OpportunityCo-CIO and Portfolio Manager John Goetz and Senior Research Analyst Daniel Babkes take a deep dive into our research process and recount how Pzena chose to make GE one of the largest positions in our US and Global value portfolios. John Goetz and Daniel Babkes discuss the following: The fundamental strength of GE's businesses and the problems that led it to become a value stock. How we analyzed these problems to determine that GE was still a strong, worthwhile investment. The decision process to add a new company to the portfolio. How position monitoring allows us...

2020-01-2137 min

Conversations with Institutional Investors 30: Pzena's Rich Pzena - Value Investing, Tech Disruption and IncumbentsRichard 'Rich' Pzena is the founder and Chief Investment Officer of Pzena Investment Management, a value-style investment firm. Unlike what some investors believe, technological disruption is not destroying value-style investing, but is creating opportunities for them, Rich says. This because history tells us that ultimately it is the incumbent that benefits from innovation, not 'the next guy on the block'. Rich Pzena podcast overview: 2:11 My father was a value investor until, 25 years ago, he became convinced electric cars would take over the world 3:30 Trying to recreate Benjamin Graham's work from 'The Intelligent Investor' 4:30 But we didn't have unlimited resources, so...

2019-04-031h 02

Podcast - Picture Lock Picture Lock PR After Show: Fake News Writer- Eric Pzena & Dani Hanks Happy Monday folks! I’ve got another great After Show for you with Eric Pzena and Dani Hanks of Fake News Writer. We talk about using analytics to engage the right audience with your work, how to navigate the festival circuit for optimization, and more. Let me know what you think below or on social! Sit back, relax, and enjoy this episode! Thanks for listening.The after show is where I ask my guests two questions that cut straight to great takeaways for how to improve the PR and marketing for your production and the...

2019-04-0100 min

Podcast - Picture Lock Picture Lock Radio: Ep. 114- Indie Grits & DC Web Fest Happy Friday my peoples! Filmmakers, be sure to get your films in to the DC Black Film Festival as the regular deadline period ends on Sunday. Visit dcbff.org for more information!Today on the show I’m talking with Seth Gadsden, director of the Indie Grits Festival. The fest, now in its 13th year is going on now in my hometown of Columbia, SC and they have a lot of stuff cooking you’ll want to know about. I also talk with director and founder of DC Web Fest, Otessa Ghadar. The...

2019-03-2900 min

Conversations with Institutional Investors 12: Pzena's Allison Fisch - Value Investing and Emerging MarketsMarketFox columnist Daniel Grioli speaks with Allison Fisch, a Portfolio Manager and Senior Analyst at Pzena Investment Management, about how you can apply a value strategy in emerging markets. Is it possible in the first place? Fisch believes so, but some adjustments are necessary to make it successful. Overview: 4:00 – Value investing is really all about psychology, the psychology of markets. 8:00 – Can you use value strategies in emerging markets? Yes, but with some differences. 11:00 – Country selection hasn't mattered buch in developed markets, but in emerging markets it does 13:00 – Using quant tools to screen the universe. 15:30 – You are looking for companies that are sick a...

2018-06-2047 min

Masters in Business Joel Greenblatt Discusses the Thrill of InvestingBloomberg View columnist Barry Ritholtz interviews Joel Greenblatt, co-chief investment officer and managing principal at Gotham Asset Management, LLC. He has also been a director of Pzena Investment Management Inc. since October 2007. An adjunct professor at Columbia Business School since 1996, he teaches classes on value and special situation investing. He is the author of “You Can Be A Stock Market Genius,” “The Little Book That Beats the Market,” “The Little Book That Still Beats the Market” and “The Big Secret for the Small Investor.” See omnystudio.com/listener for privacy information.

2018-04-201h 15