From Francis Chou´s Letter of the Manager from the Annual Report 2010: Before we invest in troubled companies we always ask questions and base our decisions on some of the criteria outlined below. It is impossible to list all the criteria but these are the main ones we look for: 1) Where does the debt … Continue reading Nugget: Francis Chou on Investing in Debt Securities
Tag: Francis Chou
Francis Chou | Deep Value Investor
Francis Chou is a Canadian value investor and principal of Chou Associates Management Inc. In 1981, together with six fellow telephone repairmen, Francis Chou started an investment club with $51,000. He left Bell Canada in 1984 and became a retail analyst at GW Asset Management. He turned the investment club into Chou Associates Fund in 1986. … Continue reading Francis Chou | Deep Value Investor
Francis Chou on Sovereign debt (in the Annual Letter of 2009)
"It is hard to believe that governments can and do default on their debts and, as the following table shows, even with their power of taxation and the ability to print money, governments have to obey the laws of economics. Just like an individual or a corporation, if governments cannot service their debt, they either … Continue reading Francis Chou on Sovereign debt (in the Annual Letter of 2009)