In 2017, we had the pleasure of interviewing highly regarded Spanish value investor Iván Martín about his philosophy.
Iván shares insights into contrarian investing, what he looks for in CEOs, how Spanish companies stack up in terms of competitiveness on a global scale, among other topics. Iván names one of the CEOs he admires most, shares an investment case study, and recommends two books for honing one’s contrarian investment approach.
MOI Global: Tell us about the genesis of Magallanes and the principles that have guided you since then.
Iván Martín: I have always dreamt of having my own asset management company. By this, I fulfilled two aspects that were very important to me: to become an entrepreneur and to implement my investment philosophy with total freedom.
Mr. Francisco García Paramés introduced Blanca Hernández and myself several years ago and encouraged us to launch an independent value oriented investment company. Blanca, Mónica and I started Magallanes Value Investors in December 2014 with €30 million in AUM. Our core mandate has always been to preserve and grow the capital of our clients, thereby generating long-term returns above standard market returns.
Investors are our top priority. They represent the most important part of Magallanes. We aim to be a reference in value investing. We understand value investing as a philosophy of life applied to investing. Alignment of interests, long-term vision, integrity and independent thinking are the most relevant aspects of our philosophy.
MOI: How do you define your ‘investable universe’ and how do you generate ideas?
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