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Over the last five decades, Brandes has curated a collection of quotes that resonate with our principles and beliefs. We are handpicking 50 of our cherished quotes to present to you throughout the year, accompanied by our point of view on why they encapsulate our core values.

Brent Woods Photo

"Consistent with our culture, we believe in thinking long term, in being independent, and doing things that we think are right, rather than are popular in a particular point in time."

Brent V. Woods, CFA, Brandes CEO

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Charles Brandes

"A value investor looks for companies that have a sustainable competitive advantage and a strong balance sheet, as these are the key indicators of long-term success."

Charles Brandes, CFA, Founder, Brandes Investment Partners

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“It's not what you buy, it's what you pay. And success in investing doesn't come from buying good things, but from buying things well. And if you don't know the difference, you're in the wrong business.”

Howard Marks, Co-Founder, Oaktree Capital Management

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Jeffrey Germain Photo

"When the risk/reward profile for a company changes for the better due to short-term or temporary market “noise,” we seek to capture that opportunity by initiating a position."

Jeff Germain, CFA, Brandes Director of Investments

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“[T]he secret to successful investing is relatively simple: Figure out the value of something and then—pay a lot less.”

Joel Greenblatt, Founder, Gotham Capital

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"Value investing is not just about investing. It is also about lifestyle."

George Athanassakos, Ivey Business School at Western University

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Charles Brandes

"You can't always find value in the stock market by looking for the best company, but you can always find the best company by looking for value."

Charles Brandes, CFA, Founder, Brandes Investment Partners

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"I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years. "

Warren Buffett, Chairman, Berkshire Hathaway, Inc., Forbes.com, September 25, 2013

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“For most investors in general, selling the expensive asset, and buying the cheap asset, seems like a logical strategy—except when you actually try to do it. Because most people are actually not wired to be selling what's expensive and going up, and buying what's cheap and going down.”

Bill Miller, Manager, Legg Mason Value Trust

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Joe Scafidi Photo

"[Technology] can streamline processes, reduce risk and costs, and improve client experience."

Joe Scafidi, Brandes Global Head of Trading

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“There is nothing esoteric about value investing. It is simply the process of determining the value underlying a security and then buying it at a considerable discount from that value. It really is that simple.”

Seth Klarman, CEO and President, Baupost Group

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“Superior investing is taking advantage of the errors of others.”

Howard Marks, Co-Founder, Oaktree Capital Management

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"We don't ask our analysts to recommend securities―we ask them to value businesses."

Brent V. Woods, CFA, Brandes CEO

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“The best investment you can make is in your own abilities. Anything you can do to develop your own abilities is likely to be more productive.”

Warren Buffett, Chairman, Berkshire Hathaway, Inc.

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Charles Brandes

"Patience is one of the most important traits of a successful value investor. You have to be willing to wait for opportunities and not get caught up in the short-term fluctuations of the market."

Charles Brandes, CFA, Founder, Brandes Investment Partners

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Mark Costa Photo

"...this environment―where we have the ability to buy what we consider good, resilient businesses that also have attractive return potential―is like a boxer being able to punch with both fists. It’s the sweet spot for our value oriented, bottom-up investment approach, seeking the absolute return potential that our clients are looking for while also seeking to preserve capital. It’s refreshing."

Mark Costa, CFA, Brandes Director of Investments

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"While the application of value investing continues to evolve, the underlying principles endure: Value investing is fundamentally about drawing on vast amounts of firm- and industry-level data to arrive at an independent assessment of firm value. "

Dr. Allan Timmermann, University of California at San Diego

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"[In spring 2023, the U.S. banking system] had a crisis of confidence .... It's not rational to create a bank run, but once a bank run is on, it is rational to participate, particularly if you have a significant amount of uninsured deposits. And it was definitely the case with the three bank failures that you had a large proportion of the deposit base (that) was uninsured."

Michael Hutchens, CFA, Brandes Director of Investments

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“The investor who says, ‘This time is different,’ when in fact it’s virtually a repeat of an earlier situation, has uttered among the four most costly words in the annals of investing.”

Sir John Templeton, Founder, Templeton Mutual Funds

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Charles Brandes

"By maintaining a strict focus on the relationship between business value and stock price at the company-specific level and largely ignoring the broader market’s fascination with short-term developments, value investors can exploit market behavior in pursuit of long-term gains."

Charles Brandes, CFA, Founder, Brandes Investment Partners

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Brent Fredberg Photo

"As value investors, we don't define value as simply cheapness or low price or low multiples. Instead, we consider growth, and quality, and moats to be components of value. However, we do appreciate that 'high-flying' narratives tend to get over-baked at times. So we look for other ways to take advantage of the attractive qualities of secular themes. "

Brent Fredberg, Brandes Director of Investments

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"Value investing is not just about investing. It is also about corporate finance."

George Athanassakos, Ivey Business School at Western University

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Charles Brandes

"The goal of a value investor is to find companies that are undervalued by the market and are likely to appreciate over time."

Charles Brandes, CFA, Founder, Brandes Investment Partners

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"We believe a team approach, in contrast to a star manager approach to managing portfolios, allows us to make better investment decisions and reduce biases. As a firm, this team approach also helps us develop future leaders and serve our clients over decades."

Louis Y. Lau, CFA, Brandes Director of Investments

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"Great investments typically aren’t born out of comfort. "

Brent Fredberg, Brandes Director of Investments

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Charles Brandes

"The key to successful value investing is to have a disciplined approach and stick to your strategy, even when the market is going against you."

Charles Brandes, CFA, Founder, Brandes Investment Partners

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"We take a holistic approach to the tech sector. Our approach involves quantitative screens backed by qualitative research, studying the technology, considering market trends, and having discussions with various market participants. Making sure that we understand the real-world drivers and phenomena that are driving the more quantitative numbers that we are looking at is the key."

Alex Yee, Brandes Equity Research Analyst

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Charles Brandes

"Value investing is timeless. It’s as relevant today as it was 100 years ago. The principles haven’t changed and never will."

Charles Brandes, CFA, Founder, Brandes Investment Partners

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