Charles Lemonides, founder and portfolio manager of ValueWorks, gives a rather upbeat message for his outlook on investing in equities. Here are some of the highlights:


***"We're in an environment that is improving fundamentally and I see that in the company specific results and I see that in the macro data."


***"We do recognize that there is uncertainty and risk in the world and we don't think that everyone's last nickel should be in equities. But we do think that today probably represents a better opportunity than most moments over the past fifteen, twenty years and we think not being in equities is probably a huge mistake."


***"The conclusion that we draw on where the markets are is primarily driven by the fact that we go out there into the market and look at the investments one by one, stock by stock, bond by bond, day in and day out; and when we do that we're finding more investments that we find attractive and compelling than I have in fifteen, twenty years."


***"The opportunities are there not because we have a grand macro call, but because when we look at the things we want to buy--they are legion."





ValueWorks Year End Message

This is a recording of a Phase 1 due diligence interview which took place May 4, 2012. 

ValueWorks Due Diligence Call - Phase 1 Interview

An interview of Charles Lemonides, CIO and PM at ValueWorks, that took place September 14th, 2012. 

Interview - Charles Lemonides, CIO and PM at ValueWorks LLC

Charles Lemonides is a seasoned value investor. He has a 25 year tenure in financial services: first as an accomplished analyst, then as a successful portfolio manager.	Charles founded ValueWorks LLC in October 2001 and is the firm's Portfolio Manager and Chief Investment Officer

Before founding ValueWorks, Charles was a partner and the CIO at M&R Capital. Responsible for the investment process there, he brought his asset-based value approach to the firm when he joined in 1999. During his tenure, he managed the accounts that comprise the ValueWorks Long/Short Composite as well as the ValueWorks long-only composites.

Charles' portfolio management role began at Sterling Advisors, an investment advisory unit of Gruntal & Co.
He served as PM and Managing Director of Sterling Advisors from 1995 until 1999. At that time, the investment management responsibilities for those portfolios were transferred to Charles as CIO of M&R Capital, and Gruntal's advisory unit was closed. Those accounts he managed without interruption were branded as ValueWorks for the first time at M&R Capital in March 1999 to identify them and to distinguish his particular investment style.

In 1986 Charles joined the research department of Gruntal & Co. in 1986. He followed risk arbitrage transactions, the banking industry, special situations, and spearheaded the addition of High Yield Bonds and Distressed Securities to the department's coverage area.

Charles received his Bachelor's degree in History from Vassar College and pursued graduate studies in Economics at New York University. He received his Chartered Financial Analyst designation in 1989 and is a member of the New York Society of Security Analysts; he frequently contributes to the financial media and is  regularly featured in Barron's, on Bloomberg, and on CNBC.

After several years serving on the board of Enact, a non-profit serving New York City public schools with creative drama therapy, Charles was appointed Chairman of the Board in November 2010.