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David Winters, Bloomberg, and my story

December 3, 2010

Last spring I wrote a story about value investor David Winters. He visited Ivey in April to talk to our class and I filed an article for the Ivey website describing his investing strategies.

Yesterday, Charles Stein of Bloomberg wrote an article on Winters. He mentions that the investor spoke at Ivey in the spring and uses the same Wayne Gretzky analogy that I used in my lede! Neat.

David Winters and George Athanassakos

David Winters and George Athanassakos

Winters has a thought-provoking approach to investing. As the Gretzky quote perfectly encapsulates, Winters “skates to where the puck is going to be” instead of where it is at the current moment. Right now, Winters thinks the puck is headed toward emerging Asian economies, and he’s got his stick poised to receive the pass there.

Another piece of wisdom: When Winters visited our class, he handed out Nestle chocolate bars, making the (delicious) point that companies like Nestlé can significantly raise prices of a product like a chocolate bar over a very short period of time. A company with the ability to do this is attractive to a value investor who looks for companies that are undervalued. Obscure, misunderstood stocks are the value investor’s favourite. As Winters said, “Nestle is well known, but not necessarily well understood.”

Check out the two articles below.



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