When Sanjay Sen was 10 years old, his first investment was in special edition stamps commemorating the 1987 Halley’s Comet, hoping they would appreciate when the comet is poised to return in 2061. He may not have been familiar with value investing then, but by high school, he had discovered Warren Buffett and Peter Lynch, and now describes himself as a “value investor to the bones.” Today, as co-founder of the $1.6 billion (CAD) AUM fund, BloombergSen, Sanjay isn’t quite as long-term oriented as his 10-year old self, but he has built an outstanding track record investing in a concentrated portfolio of great businesses that the fund holds for an average of seven years. Sanjay and his partner search the globe for companies with high returns on capital, recurring revenue, free cash flow, great management, and limited competition. They will sit on cash until they find these promising investments that they can also buy cheaply.
At the 2016 Santangel’s Investor Forum, Sanjay will talk about a company he calls a classic great business that has gotten too cheap.