Charles Lemonides, founder and CIO of ValueWorks LLC, stops by The Business Brew to discuss his investment philosophy. Charles started his career as a high yield bond analyst. Over time, he gravitated towards equity. In this episode he says "I find the best investment opportunities are where you can find something that is a real growth opportunity but it is selling for a value price."
Today, ValueWorks LLC, tends to run portfolios with 25-30 long securities in them. Charles tries to have 15 "very, very different" bets in each portfolio.
We hope you enjoy this conversation.
John Hempton on "When do you average down?")
Detailed Show Notes:
5:15 - Best investment setups/opportunities
7:30 - Conceptual position sizing
9:40 - ValueWorks different vehicles and philosophy
17:45 - How Charles built his firm around a philosophy
20:00 - Why Rivian may be a value investment
28:20 - Comcast
31:00 - How Charles manages different types of theses?
35:00 - Where are we in a market cycle?
39:30 - What stocks do you want into a top?
44:40 - What makes Charles tick
