Dave Iben is the founder and CIO of Kopernik GlobalInvestors, a $6bn global value investment shop which prides itself on independent thought and is comfortable with contrarian positions.

Steve invited Dave on the podcast because at a recent NewYork conference, Dave was cheerleading that value was back, and Steve wanted to discuss the rationale for his enthusiasm, given value’s massive underperformance in the last 15 years. Luckily Dave was spending the summer in London looking for cheap UK stocks, and they could record in person.