🔎💎 Get rich by... following the rich! JOE Bauernfreund built his investment advantage with a very unconventional perspective: following the billionaires, but not buying flashy flagship stocks, instead buying their holding companies and closed-end funds when the market undervalues ​​their net asset value (NAV). He currently manages AVI Global Trust, which has a portfolio of approximately $1.6 billion. The fund's focus is on businesses that: - Very strong underlying assets (media, real estate, luxury, logistics, etc.) - Because these families/billionaires are skilled at allocating and controlling Capital . However, the stock is trading at a 20–40% discount to its NAV due to its complex and confusing ownership structure. For example: - News Corp once traded at a discount of approximately 41%, despite owning The Wall Street Journal and 61% of REA Group – one of Australia's most valuable online real estate companies. - Vincent Bolloré's holdings (Bolloré SE, Vivendi) have been undervalued for many years despite holding a large stake in Universal Music Group. - Christian Dior – the parent company of LVMH – also traded at a discount of approximately 18% compared to its net asset value. AVI's strategy is clear: buy at a deep discount → apply moderate pressure (buyback, simplify structure, improve shareholder rights) → narrow the discount. Then, investors reap double benefits: asset appreciation + "unlocked" valuation. The effectiveness has been proven: over approximately 40 years, funds managed by AVI have achieved a compound annual return of approximately 11.8%, higher than the MSCI ACWI index by about 2.4% per year – a very significant difference in the long term. Notably, AVI also maintains self-discipline. As a closed-end fund, they regularly repurchase their own shares to keep the discount around 7%, avoiding falling into the same traps they might encounter elsewhere. 📌 According to Forbes Vietnam twitter.com/gm_upside/status/2...