I am the founder and a director of the Vltava Fund, a global equity investment fund based in Malta (EU). Since 2004, we’ve been serving qualified investors by managing a carefully selected portfolio of stocks.
I have been investing on financial markets since the early 1990s (my entire professional career) and have shared my experience in two best-selling books about value investing in Czech: Learn to Invest (Naucte se investovat, 2005) and Stock Investments (Akciove investice, 2015).
However, as with many other accomplished investors, most of my published work consists of regular letters to shareholders and occasional analyses and investment views — some of which I have selected below.
An important part of my work is raising awareness of value investing as a writer and public speaker, as well as a co-organizer and host of the largest Czech investment conference, which has been held annually since 2014 with my fellow investors from all over the world as speakers.
People often ask me what value investing is all about. Perhaps the best answer for a layperson would be that it is an investment strategy that is both rational and safe. As value investors, inspired by all-time greats like Benjamin Graham and his disciple Warren Buffett, we strive to identify companies that are both excellent and undervalued against our conservative estimate with a large safety margin. In times like these, where companies that have never turned out a profit are trading for billions of dollars, we skip the hype and look for more rational choices.
As you can see, educating the public in terms of understanding value investments is a vital part of my professional mission. If you are working towards the same goal anywhere in Europe, feel free to reach out to me. I may be busy, but I’ll do my best to respond one way or another.