Best Idea Show - David Marcus, Evermore Global Advisors - Do You Sell Things That You Like To Buy Things That You Now Love? | #285

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 3 February 2021

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode 285, we welcome our guest David Marcus, the co-founder and Chief Investment Officer of Evermore Global Advisors, where he manages the Evermore Global Value Fund. In today’s episode, we’re talking about David’s best idea: special situations in Europe. David’s been investing in Europe for almost his entire career and thinks now is the best opportunity for special situations he has ever seen. First, he explains what it was like for him to watch legendary investor Michael Price navigate the 1987 crash. Then David explains what led him to start Evermore Global and the firm’s investment philosophy. He touches on the different types of special situations he focuses on, including spinoffs, restructurings, and breakups, and why activism, catalysts, and cheaper valuations make Europe especially attractive. As the conversation winds down, David talks about some of his current holdings and the benefits of investing in family-owned businesses. Please enjoy this special “Best Ideas” episode with Evermore Global Advisor’s David Marcus. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Medfavor Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:18.8	Matt Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.3	Did it industry regulations, he will not discuss any of Cambry's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the
0:30.8	opinion of Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:35.6	What's up, friends?
0:40.4	Today, another installment of our Best Idea series.
0:43.7	Our guest is the co-founder and chief investment officer of Evermore Global Advisors,
0:48.5	where he manages the Evermore Global Value Fund.
0:52.0	In today's episode, we're covering our guest's best idea, special
0:55.5	situations in Europe. Our guest has been investing in Europe for almost his entire
0:59.7	career and thinks now is the best opportunity he has ever seen.
1:04.0	We start by hearing what it was like for our guest to begin his career under the legendary investor Michael Price
1:09.0	and how Price navigated the 1987 crash. Then we turn to what led our guest to start Evermore Global and hear about his
1:16.6	investment philosophy. We touch on the different types of special situations he
1:20.2	focuses on including spin-offs, restructuring, breakups, and why activism,
1:24.9	catalysts and cheaper valuations make Europe especially attractive today.
1:29.7	As we wind down, he talks about some of his current holdings and the benefits of investing in family-owned
	...

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