article 05-11-2017

Charlie Dreifus Makes the Case for Corporate Accountability with CFA Society of Nebraska

Portfolio Manager Charlie Dreifus discussed the importance of corporate governance and accountability with the CFA Society of Nebraska.

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Royce Portfolio Managers Chuck Royce, Charlie Dreifus, and Portfolio Specialist Steve Clark attended Berkshire Hathaway's shareholder meeting in Omaha last week.

Charlie Dreifus, Chuck RoyceCharlie Dreifus, Nebraska Governor Pete Ricketts, and Chuck Royce

Charlie delivered the keynote speech at the CFA Society of Nebraska's eighth annual Value Investing Dinner on May 4. This was the second year in which investment management at Royce & Associates delivered the keynote address as Steven McBoyle and Steve Lipper spoke at the seventh annual Value Investing Dinner for the CFA Society of Nebraska.

Charlie shared insights on the importance of corporate accountability and governance and why these issues are important for investors in his presentation "Governance: Accounting and Accountability." Through "deep dives" into the accounting and corporate governance of companies, Charlie focuses on four key elements of risk management: audit committees, accounting principles, incentive compensation, and ownership.

Charlie Dreifus and Steve Clark
Charlie Dreifus and Steve Clark

While in Omaha, Charlie also presented at the GuruFocus conference, where he shared his focus on misleading account practices, like increased non-GAAP earnings, a topic Charlie has written about extensively. The article quotes Charlie: "We don't need more accounting principles…we need more accountants with principles."

Read more about the event here and read the GuruFocus article summarizing Charlie's keynote speech here.

Important Disclosure Information

The thoughts and opinions expressed in the interview is solely that of the person speaking and may differ from those of other Royce investment professionals, or the firm as a whole. There can be no assurance with regard to future market movements.

This material is not authorized for distribution unless preceded or accompanied by a current prospectus. Please read the prospectus carefully before investing or sending money.Smaller-cap stocks may involve considerably more risk than larger-cap stocks. (Please see "Primary Risks for Fund Investors" in the prospectus.)

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