VALUEx Vail 2013
The Third Annual VALUEx Vail will be held in Vail, Colorado, June 19th through 21nd (Wednesday – Friday)
VALUEx Vail is created for serious investors to share ideas and learn from one another’s experiences, all while enjoying each other’s company and fun activities in the gorgeous Colorado mountains.
We’ll have about six presentations every evening (Wednesday, Thursday, and Friday) starting at 4:30 pm for about two and a half hours, followed by dinner (we’ll change restaurants every night). In addition we’ll have a “dessert speaker,” who will do an informal talk and Q&A on an interesting subject. (In 2011 Jim Chanos shared his insights on subjects from short selling to his favorite value traps. In 2012 Jon Markman talked about his latest work, an annotation to Reminiscences of a Stock Operator.) To conclude each day, the more adventurous types are welcome to join us at the bar for drinks.
Success of VALUEx Vail depends on participants’ presentations. Therefore, all attendees will be asked to share ideas, whether they are shared in a 15-minute presentation, in a “dessert talk,” or more informally late at night in the bar. We’ll only have time for about twenty 15-minute presentations; therefore, while everyone should be willing to present, we’ll choose only twenty presenters. The presentation could be on any investment topic, including but not limited to stock ideas (long or short), macroeconomic or geopolitical discussion, sector or industry analysis, insights into the investment process, etc. (Once the attendee list is finalized, attendees will be contacted about their presentations.)
In the morning, if you can get up after the night before (!), please join the group for breakfast. Sometime after breakfast we’ll do a fun activity. Last year we went to two different ranches, played volleyball, threw horseshoes, and tried our hand at bocce ball; and the kids did some fishing. The location of the group lunches will depend on which fun activities we choose.
VALUEx is a perfect opportunity for a family vacation. Family members, including children of all ages, are encouraged to participate in activities during the day. I’ll bring my whole family.
My family has been going to Vail for almost twenty years. We spend a few weeks there every summer, riding bikes, going for long walks, riding the gondola to the top of the mountain, or simply doing nothing.
Accommodations: In late April or early May we’ll send a list of recommended hotels. Mid-June is fairly slow in Vail, hotel prices are very reasonable, and you should not have a problem (with a reasonable lead time) finding a decent room. Almost everything in Vail is within walking distance. There are no cars allowed in Vail Village or Lions Head (the western side of Vail), so you either walk, ride the free bus (which comes along every 10 minutes), or ride a bike, which you can also rent nearby.
Dress code: Very casual, comfortable clothes
Cost: This is a not-for-profit event. There will be a nominal fee of $250 to cover organizational expenses (it is nonrefundable).
Attendees will be responsible for hotel, food, and activities. It is important to note that we are not in the conference business. All we are doing is taking your hard-earned money and transferring it to the even more hard-working service providers (restaurants, activity providers, etc.) Last year the cost of exclusive use of the facility where presentations were held, plus food and drinks, averaged about $150 an evening per attendee. As we get closer to the event we’ll send you a link where you’ll be able to prepay for dinners and activities.
How to apply: Since all content is attendee-generated, we are more concerned about the quality than the quantity of attendees (also, for the best flow of ideas, we limit size to 40 attendees). If you’d like to attend, send us an email, and in a few paragraphs tell us about yourself, your experience, your areas of expertise, and a topic/idea you’d like to discuss at the conference. I understand that things may change in a few months, but this will give me a general idea. It is important to note that you don’t have to be a professional value investor to apply. Though we envision that the majority of attendees will be professional value investors, there is also value in a diversity of views, so if you are a diehard nonprofessional value investor, please apply!
Deadline to apply: April 7h. We will not be able to accept requests to attend after April 7th.