Friday Morning Coffee Nr. 79: Underowned

081119 Friday Morning Coffee

Friday Morning Coffee Nr. 79: Underowned

My co-manager Allan Jensen and myself had the opportunity to present at the IVIC International Value Investment Conference taking place in Luxembourg this week. I wanted to thank the organizer VIMCO ( www.vimcolux.lu ), and especially Michael Gielkens, for organizing for the third time such a great value event here in Luxembourg. During the dinner on the night before the conference, where the investment case in Berkshire Hathaway was presented, one investor made the comment that he could not see European equities go through an imminent correction for the simple reason that investors are still on the sidelines and European equities are under-owned. He may have a very valid point!