Investment Analysis
Pzena Fourth-Quarter Newsletter Commentary - Although no two cycles are exactly alike, the current cycle is remarkably consistent with the four prior. If history is a guide, there should continue to be significant opportunity in the deep value space.
Pzena Third-Quarter Newsletter Commentary - Fears and uncertainty have created a wide range of opportunities in good businesses with healthy balance sheets trading at depressed valuations. A challenging growth environment does not mean low profits.
Pzena White Paper: Assessing Risk and Return - For the long-term investor, risk is more appropriately defined as the permanent impairment of capital rather than short-term volatility.
Pzena 2Q10 Commentary on Volatility - Our research suggests that the value advantage can be exploited while reducing volatility in a deep value portfolio. We now utilize volatility as an input to our long established investment process.
Publications
- Pzena Quarterly Newsletter - Our Letter to Clients, Investment Commentary, Quarterly Strategies, Review and Outlooks, and Pzena News.
- The Search For Value - a compilation of Pzena commentaries from our first 11 years.
- Firm Summary - an introduction to Pzena.
To request a copy of the publications above, please complete the publications request form.
Other Resources on Value Investing
- The Little Book that Beats the Market
by Joel Greenblatt - Value Investing: From Graham to Buffett and Beyond
by Bruce C. N. Greenwald, Judd Kahn, Paul D. Sonkin, Michael Van Biema - What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of
All Time
by James P. O’Shaughnessy - The Intelligent Investor
by Benjamin Graham, Jason Zweig - Margin of Safety: Risk Averse Value Investing Strategies for the Thoughtful Investor
by Seth A. Klarman - Security Analysis
By Benjamin Graham and David Dodd - The Cross-Section of Expected Stock Returns
by Eugene F. Fama and Kenneth R. French. Journal of Finance 47(1992)
