Jean-Marie Eveillard

Published on
3 August, 2018
Topic
Portfolio Management, Career, Investment Framework
Duration
62 minutes

Jean-Marie Eveillard

Featuring Jean-Marie Eveillard

The dean of investment writers sits down with famed value manager Jean-Marie Eveillard, who spent more than two decades as the lead portfolio manager for First Eagle Investment Management Global Value. In this deep-diving conversation, Mr. Eveillard discusses his long track record of impressive performance, recounts the most formative moments of his career, and shares his overall philosophy about the practice of value investment. In addition, Mr. Eveillard and Mr. Grant also discuss today’s markets, paying particular attention to bonds and gold. Filmed on May 24, 2018 in New York.

Published on
3 August, 2018
Topic
Portfolio Management, Career, Investment Framework
Duration
62 minutes
Rating
112
Sharing

Comments

  • MA

    Mohammed A.

    8 8 2018 13:59

    0       0

    i looked up Jean book in amazon but its in German ? is there an English version ? and how to buy it.

  • CM

    C M.

    8 8 2018 00:25

    5       0

    JME: "She was a member of a cult..."
    JG: "Like the Democrat party?"

    Hysterical...

  • lb

    larry b.

    6 8 2018 22:44

    4       0

    Love Jean Marie and Jim Grant but not enough meat on it. Would love more discussion about gold and other things. Interesting though..

  • F

    Floyd .

    6 8 2018 22:40

    5       0

    I agree with some of the other comments about solid historical perspective rather than hot tips. I would add that while it was VERY subtle there was a warning investors can't hear enough,valuation matters and know where you are in each and every market. Also it is OK to stay away from an overvalued asset class,market or individual security,be patient!

  • JW

    James W.

    6 8 2018 02:24

    0       0

    Mr. Grant's sense of humor is priceless, and his attempts to draw out Mr. Eveillard were valiant, but it seems the latter does not tend towards the loquacious. The sound quality for the guest was rather poor - dark and muffled.

  • Xd

    Xavier d.

    6 8 2018 02:11

    4       0

    Jean-Marie has what Tom Russo calls the “capacity to suffer” which makes, in the long run, both companies and investors successful.

  • SS

    Steven S.

    6 8 2018 00:36

    3       1

    B I L L B R O W D E R --------> usa watchdog https://www.youtube.com/watch?v=0fGuNthLmNQ
    -----Witch Hunt----

  • JH

    Jesse H.

    5 8 2018 22:06

    1       0

    Is fitting that he interject and even present key discussion points at times. A less fitting interviewer would do well to keep quiet, but I for one consider many of his interruptions useful.

  • JH

    Jesse H.

    5 8 2018 22:04

    0       0

    ...interviews, and so is bound to be more conversational vs. interview-esque, and (b) Jim Grant is an incredibly thoughtful, educated and erudite investment professional himself and so it...

  • JH

    Jesse H.

    5 8 2018 22:02

    1       0

    ...truly is one of a kind. I felt that in this interview, Jim did give more leeway to the guest to speak / answer. The other thing people need to bear in mind is that (a) Jim often knows the people he

  • JH

    Jesse H.

    5 8 2018 22:01

    1       0

    Wholeheartedly agree with Gordon and also somewhat with Hans. This series is for thoughtful reflection, historical perspective and arguably entertainment. I love Grant and his idiosyncratic style - he

  • HG

    Hans G.

    5 8 2018 09:30

    13       1

    The one drawback I see with the JG series - as much as I usually enjoy reading and listening to Jim Grant - is that he has a tendency to speak more than the guests he interviews. In that respect I would like to see him hold back a bit and allow the interviewees more room to phrase their thoughts.

  • GF

    Gordon F.

    5 8 2018 04:21

    18       0

    Not everyone listens to RVTV for the same reasons. I really enjoy the historical interviews, as I always come away with perspective and insights I didn't have before. I ran across a quote the other day from Harry Truman, "There's nothing new in the world except the history you don't know."
    I really enjoy the reminiscences of people who have a long history of the markets, and who have been generally successful. Sustained success is not accidental, although luck often plays a part. I encourage RVTV to continue with this "channel". If it's not your cup of tea, then skip them.

  • PB

    Pieter B.

    5 8 2018 01:20

    0       0

    Thanks a lot for the great content JME & Jim!

  • GB

    Gary B.

    4 8 2018 22:51

    13       0

    I get a kick out of reading some of the negative comments. I invested In a JME fund for over 26 years. No portfolio manager ever made more money for me. If you didn’t get any value or learn anything from this interview you weren’t listening. If all you want is some hot tips JME is not your guy. If you want insight in how to make money over the long term, there is plenty in this interview.

  • WM

    Will M.

    4 8 2018 19:52

    4       0

    Not the best Jim Grant interview but some clear principles from JME. I think this series is not really trying to give anyone sharp tips or specific names, rather you are getting experience from folks who have succeeded hugely in their career and are giving us the benefits of their extensive experience.

  • DV

    Dimitri V.

    4 8 2018 16:57

    5       0

    More of these please! Love to listen to these older guys. If you can't draw anything from these, bummer. There's something for everyone on here, keep exploring.

  • HJ

    Harry J.

    4 8 2018 16:43

    6       23

    This was a waste of time.
    Not even close to RVTV standards.
    I’m not watching to find more books for my library.
    I’m short on two things Time and assets.
    Time is a commodity I have no hope of increasing. Assets are a different matter all together.
    This show won’t help on either account!
    I decided to listen hopefully to hear words of wisdom ie: Gold and bonds. After spending the required time I feel like I just bought a stock that won’t quit going down.

  • PM

    Patrick M.

    4 8 2018 16:32

    9       0

    I would like to convey my thoughts re: this interview and some of the comments, my premptive thanks for the license to do so.
    JME delivered real world results for my non accredited clients for years, as did his replacements. He tried to retire years ago but the game is the game and like the Godfather 3 " just when he thought he was out they pulled me back in." And why? It is here in front of us and with a little research and thought we can understand what the real investment recommendation is. JME is value, and he fought his early career to find a place to practice his dark art. Results accrued, The family behind First Eagle made their play. Somewhere along the way JME got a stake. Now he had a fund where he could apply his passion, his own money in the fund, and ownership in the asset manager which grabs 1.5% of many, many billions of client dollars.
    JME owns a castle (and they guy from a couple weeks ago owns a football team) be cause their best investment idea is ownership in private companies that provide a service to the street.
    The investment idea is then this: find something your good at, find a place to work, deliver, buy in, repeat for 50 years, age gracefully, get interviewed by Jim Grant, get sh*ttalked on RVTV.
    Also, buy gold.
    Thanks again for the interview, the new lower cost of the basic RV service, and the ability to comment.
    My best to JME and his family, and many thanks to him on behalf of my friends, family, and satisfied investors.

  • JD

    John D.

    4 8 2018 14:39

    1       24

    Real Vision is jumping the shark... Two old guys rambling about castles and getting lost along the way...Come on Raoul , you can do better than this...

  • MG

    Matteo G.

    4 8 2018 07:51

    10       1

    I love jim grant, but in this interview there were only a few memories and nothing else. Jim asked about gold and got no answer. Jim asked about value plays and got no answer. I like the videos where investors tell their view of the markets, sectors and asset classes and what facts and thoughts support them. Disappointing.

  • my

    markettaker y.

    4 8 2018 04:37

    4       0

    A little 'low energy', I feel. May have been better to get this guy on ten or fifteen years ago when he was a bit sharper? Enjoyable all the same. But if Jim went a bit deeper and got into the weeds a bit more with his guests, we'd all benefit. Walking through specific investment theses, how they played out, how the trades were put on and taken off, etc. - all that would be more valuable for RVers.

  • PM

    Patrick M.

    4 8 2018 00:49

    5       0

    Those looking for current investment ideas that fit a JME world view may do well to research Charles and Charles at IVA, & Matt McLennen and team at First Eagle. They appear to keep the flame afire for value investing while being their own men. Those mentioned worked for and with JME, and are currently active. Many thanks to JME and JG.

  • PW

    Phil W.

    3 8 2018 22:41

    3       0

    Two older gentlemen having a chat! Although, very enjoyable!

  • MK

    Michael K.

    3 8 2018 20:27

    3       0

    A delightful interview, all class. I do wish the guest were more open to discussing specific investment ideas, but after a certain age and career, it is understandable to take a more reflective reticent tone. They did discuss gold twice though, something to note.

  • DS

    David S.

    3 8 2018 19:23

    2       0

    Index investing, especially funds requiring full investment, are very tempting in a long bull market, as stated by Mr. Evelliard. He also asked the serious question "Will they be happy when the market drops sharply." IMO indexers underlying assumption is the Federal Government will bail the market out again and again with wealth-based socialism and the market will not fall. Gold will become important when governments no longer bail out Wall Street. DLS

  • DS

    David S.

    3 8 2018 19:08

    0       0

    The efficient market theory gave academia the false hope that they could describe the market mathematically; thereby predicting the future. DLS

  • V!

    Volatimothy !.

    3 8 2018 13:50

    8       0

    I like Jean-Marie's take on fixed income. I'm not interested in fixed income unless the yield is double digit.

  • YB

    Yuriy B.

    3 8 2018 13:16

    17       2

    I write this as someone who dotes on Jim Grant's every word. I subscribe to Grant's newsletter, listen to every one of his podcasts, and never miss his interviews on Real Vision. But I find that his Real Vision interviews are increasingly vague and rehash the same talking points. Jim, can you force your interviewees to talk through specific investment theses? Perhaps, their greatest mistakes (as cliched as that sounds)? Have them talk through how they would analyze a specific security that they feel strongly about. Just give us something tangible. Your head is in the clouds and we are stuck in the dirt.