Brandes' point of view

Often it’s the element of discomfort that gives rise to a security selling at a discount to its fair value. Conversely, while it’s certainly warmer in the herd, it is often this comfort from purchasing what others are purchasing, or what is “highly regarded,” that results in an elevated stock price portending underwhelming returns. Instead, with thorough research married with a contrarian tilt, Brandes frequently finds what we consider to be attractive opportunities in areas that are less traveled. To paraphrase Warren Buffett, value investing is simple, but it’s not easy.