The AAII Los Angeles Chapter presents...

Global Value: Spotting Bubbles, Avoiding Crashes, and Big Returns

    Discussed by:

    Mebane Faber
    Portfolio Manager, Cambria Investment Management

Investment bubbles and manias have existed within markets throughout human history, but investors can learn to avoid the extreme losses that occur when those bubbles burst. Using the time-tested method of valuing securities with earnings smoothed over many years can be very helpful. We can then create a trading system to build global stock portfolios based on valuation, and find significant outperformance by selecting markets based on relative and absolute valuation. In this presentation, Mebane Faber will explain how to do this.

Attend This Meeting and Learn...
How to evaluate international stock markets
Which markets are expensive now and which are cheap
Where the U.S. market stands and what returns can we expect going forward

Expose the Chicanery, Avoid Losses

    Discussed by:
    John Del Vecchio & Tom Jacobs
    Co-Authors, “What’s Behind the Numbers?”

Most stocks underperform the averages, but many investors may not realize it. Revenue can be (and is) manipulated, cash flow statistics may be misleading, and earnings reports matter less than you think. In this presentation, John Del Vecchio and Tom Jacobs will tell you how to sort through the noise to avoid losses by selling, avoiding or shorting stocks that no one wants to own.

Attend This Meeting and Learn...
Why increasing market complexity means more bubbles and crashes
Why risk management is more important than chasing gains
Which factors are the best predictors of poor stock performance

Saturday, April 19, 2014
8:30 a.m.    Registration/Social/Refreshments
9:00 a.m.    Program
10:00 a.m.    Q&A
Skirball Center
2701 N. Sepulveda Blvd.
Los Angeles, CA
[ Map This Location ]
In Advance (by 4/15), Everyone, $8/person;
At the Door (space permitting only) Everyone, $10/person
No Refunds

  Special Interest Groups (SIGs)


Members should check the LA chapter website for latest schedules. Click on for details.

NEW! Retirement Group:
Evan Press,
Richard Erkes,
Date/Time: First Saturday of odd-numbered months, 9:30 a.m.
Location: Culver City Veterans Memorial Complex, 4117 Overland Avenue, Culver City

NEW! Strategic Investing Group
Don Gimpel,
Date/Time: The first Saturday of even-numbered months, 9:00 a.m.
Location: Culver City Veterans Memorial Complex, 4117 Overland Ave., Culver City

Stock Selection Group
Norm Langhout,, 310/391-6430
Date/Time: Fourth Wednesday of the month, 7:00 p.m.
Location: Fairview Branch, Santa Monica Library, 2101 Ocean Park Blvd., Santa Monica.

Mutual Fund Group
The chapter needs a volunteer to coordinate meetings. Please contact
Howard Staniloff at

Neighborhood Subgroups

Pasadena Group
The chapter needs a volunteer to coordinate meetings. Please contact
Howard Staniloff at

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