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JEFF UBBEN: "I don’t know how much of the bid every day is really somebody buying intrinsic value on the other side. It feels like computers to computers. December was kind of just the race to the bottom." Value as analytical style not a statistical factor google.com/amp/s/www.valu…
"There’s this huge volatility around quarterly earnings that didn’t need to exist. It seems like somebody wants to beat somebody else to the punch on headline earnings and stuff like that which rewires the brain of directors and they think quarterly earnings is really important."
JEFF UBBEN: "In the end intrinsic value will win. And because we have the long-term capital, we have the time horizon that will allow our thesis to play out. And we really tend to make money in year three, four and five. Not year one and two."
