David Després

Senior Portfolio Manager & Partner at Letko, Brosseau & Associates Inc.

David Després

David Després

Senior Portfolio Manager & Partner at Letko, Brosseau & Associates Inc.

Biography

Mr. David Després, CFA, is a Senior Portfolio Manager & Partner at Letko, Brosseau & Associates Inc.Prior to joining the firm in 2001, he worked at the Hydro-Québec Pension Fund in risk management.[He is a graduate of HEC Montréal (Master of Management Sciences and B.Com.) and is also a CFA® charterholder.

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17

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Founder at Letko, Brosseau & Associates Inc.

Relationship likelihood: Strong

Director at Letko, Brosseau & Associates Inc.

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Portfolio Manager & Partner at Letko, Brosseau & Associates Inc.

Relationship likelihood: Strong

Senior Portfolio Manager & Partner at Letko, Brosseau & Associates Inc.

Relationship likelihood: Strong

Senior Portfolio Manager & Partner at Letko, Brosseau & Associates Inc.

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Co-Founder & Vice President at Letko Brosseau Investment Management, Inc.

Relationship likelihood: Strong

Portfolio Manager & Partner at Letko, Brosseau & Associates Inc.

Relationship likelihood: Strong

Investment Analyst & Partner at Letko, Brosseau & Associates Inc.

Relationship likelihood: Strong

Investment Analyst & Partner at Letko, Brosseau & Associates Inc.

Relationship likelihood: Strong

Investment Analyst & Partner at Letko, Brosseau & Associates Inc.

Relationship likelihood: Strong

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David Després
Senior Portfolio Manager & Partner at Letko, Brosseau & Associates Inc.
Education

HEC Montréal is a university business school whose reputation as a leader in teaching and research is recognized in Québec, Canada, and around the world. HEC Montréal is a French-language university institution offering internationally renowned management education and research. The School has been training future managers who contribute to our society’s growth and prosperity, since 1907. HEC Montréal’s excellence in management teaching and research is recognized worldwide. As proof, the School was the first in North America to be awarded the three most prestigious international accreditations in its field: AACSB International, EQUIS and AMBA. HEC Montréal is a French-language institution solidly rooted in its community and open to the world. It is an international-calibre university business school that contributes to our society’s prosperity by providing leadership in all its spheres of activity, i.e. teaching at all levels, research and serving the community.

Career History
Senior Portfolio Manager & Partner
2001 - Current

Letko, Brosseau & Associates' (LBA) A provides investment management services using an approach based on fundamental analysis, broad diversification, an international perspective, careful stock selection and low turnover. Their style is conservative. LBA does not short securities, nor do they trade in options or derivatives. Types of mandates offered to US investors include: Global Balanced; Foreign (non-Canadian) Balanced; Canadian Balanced; Canadian Equities; Global Equity (Canadian and foreign equities)l; Canadian Equity Plus (with up to 40% foreign equity component); Foreign Equities (only non-Canadian equities); and Fixed Income. LBA's investment style is essentially the same for Canadian equities, US equities and other international equities. The firm doesn't use external managers.LBA is most interested in the characteristics of the businesses and industries in which they invest: their cost structures, growth, entry costs, market positions, etc. They are equally interested in what they pay for each investment. LBA employs an enterprise value approach and they must be able to justify the price they pay using standard financial principles. Longer investment horizons are stressed. LBA tends to avoid securities with a lot of valuation risk or those that are too dependent on extraordinary future growth or improvements in profitability. LBA's portfolios typically have lower p/e ratios, have higher current yields, trade at lower p/cf, and have higher EBITDA/TMV and REVENUES/TMV ratios.

Other Affiliations

David Després is affiliated with Letko, Brosseau & Associates Inc.

This web site is not endorsed by, directly affiliated with, maintained, authorized, or sponsored by David Després. The use of any trade name or trademark is for identification and reference purposes only and does not imply any association with the trademark holder. The Presence of David Després's profile does not indicate a business or promotional relationship of any kind between RelSci and David Després.
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