Amit Wadhwaney - From Montreal to Moerus: Amit Wadhwaney's Deep Value Discipline

In this episode of the Value Investing with Legends podcast, Tano Santos and Michael Mauboussin interview Amit Wadhwaney, the founding manager of Moerus Worldwide Value Fund, about his background, investment philosophy, and career. Wadhwaney discusses his early life in India, his academic journey into finance, and his experiences working with Marty Whitman at Third Avenue Management. He details his investment process, emphasizing valuation, safety of capital, and a long-term horizon, and shares insights into portfolio construction, risk management, and currency hedging. The conversation also covers specific investments, such as those in the materials sector and companies like Despegar.com, as well as Wadhwaney's concerns about current economic and political issues. He concludes by recommending several books that have influenced his thinking on investing and portfolio construction.