BNC#6 Piet Viljoen - Value investing in an index-dominated era

Money manager Piet Viljoen's keynote address at BNC#6 in Hermanus unveiled the challenges and opportunities of value investing amidst the dominance of index funds. Drawing parallels to historical frauds and market shifts, Viljoen emphasized the importance of active management, focusing on small, undervalued businesses with competent leadership and active share buybacks. The speech warns against blindly following indices, especially when large-cap stocks dominate, echoing Warren Buffett's cautionary analogy about bull markets. He urged investors to adopt a nuanced approach, seeking out solid fundamentals and strategic capital allocation for long-term outperformance in today's dynamic investment landscape.