10 Investing Insights From the 6th Annual University of Virginia Investing Conference

  1. “Public equities have become the ‘there is no alternative,’ or TINA, asset class for those seeking positive, real returns over a period of time.”
    — Jason DeSena Trennert, managing partner, Strategas Research Partners LLC
  2. “Quality companies have pricing power, and they have high entry barriers, free cash flow and consistent revenue. They also have a unique boardroom DNA, which causes company leaders to consistently make the right decisions. Look for all those qualities.”
    — Richard L. Chilton Jr., chair and CEO, Chilton Investment Company
  3.  “The shale gas revolution is a game changer and will revolutionize the future. … Another game changer is 3-D printing.”
    — Donald W. Lindsey, chief investment officer, The George Washington University
  4. “There are very few billion dollar businesses. Scale is hard. It’s much easier to build a billion dollar valuation than a billion dollar business.”
    — Ned Hooper, partner, Centerview Capital
  5. “Television is growing and all other media are shrinking. … People enjoy sight, sound and motion.”
    — Scott Ferber, CEO, Videology
  6. “Buy when there is little confidence and sell when there is too much confidence. Risk is when there’s too much confidence in the price of an asset.”
    — Howard Marks, chair, Oaktree
  7. “North America is experiencing an energy renaissance and will soon hit an all-time high for energy production. … This year, China surpassed the U.S. as the largest importer of oil.”
    — Wil VanLoh, president and CEO, Quantum Energy Partners
  8. “It’s all about valuations. You have to be willing to be unloved and buy things out of favor.”
    — D. Ellen Shuman, managing partner, Edgehill Endowment Partners
  9. “Asset bubbles and protectionism worry me now.”
    — Scott C. Malpass, vice president and chief investment officer, University of Notre Dame
  10. “Emerging market fixed income has received big inflows. There is a record issuance of emerging market corporate bonds and a shortage of investment grade paper.”
    — Joyce Chang, global head of Fixed Income Research, JP Morgan Securities

These tips were captured from the sixth annual University of Virginia Investing Conference, held 14-15 November 2013 at the Darden School of Business. 

About the Faculty

Kenneth M. Eades

Eades’ broad expertise covers corporate finance issues including dividend policy, mergers and acquisitions, investments, defined benefit pensions and pricing of convertible securities. He is also the author of 50 Darden cases.

In 2013 Eades wrote “Best Practices in Estimating the Cost of Capital: Survey and Synthesis” with Todd Brotherson, Robert Harris,... Learn More