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Over the last 70 years, value stocks clocked a 13.4% average annual return, vs. 10.2% for growth stocks, according to Ibbotson Associates.

Jean-Marie Eveillard

Mutual-fund manager Jean-Marie Eveillard is a veteran buyer of value stocks, and when he surveys the global investment landscape nowadays, years of experience make him a cautious shopper.

"This is the worst financial crisis since the Great Depression," Eveillard, who runs First Eagle Overseas Fund  (SGOVX) , said in a recent telephone interview. Unlike many of his peers, Eveillard does not believe the storm is over. "The transition to a better economy may take quite a while and be quite painful," he said.

Jean-Marie Eveillard's First Eagle Funds/Arnhold and S. Bleichroeder Advisers have been very active in acquiring stakes in Japanese companies over the past six months from their filings with Japanese regulators.

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Eveillard has compiled an outstanding record since he came to New York in 1978 to take over the management of the First Eagle Global Fund. It was, at the time, a tiny mutual fund owned by Société Générale, with $15 million in assets. Today the fund has nearly $22 billion in assets, has earned a four-star rating from Morningstar, has been ranked no. 1 by Lipper in its category for more than 10 years running, and has returned on average more than 15% annually since its inception in 1970.

Jean-Marie Eveillard, who runs the $21.3 billion First Eagle Global Fund, talks with Bloomberg's Betty Liu in New York about Visa Inc.'s initial public offering, the outlook for gold prices and the banking industry, and his investment strategy, including the recommendation of American Express Co., Home Depot Inc. and Barnes & Noble Inc.

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Consuelo Mack WealthTrack interviews Jean-Marie Eveillard, Lead Portfolio Manager of First Eagle Funds.

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Jean-Marie Eveillard, who helps oversee $35 billion as a portfolio manager at First Eagle Funds at Arnhold & S. Bleischroeder Advisers, talks with Bloomberg's Carol Massar in New York about his investment strategy and the outlook for financial stocks, the impact of Federal Reserve monetary policy on the economy, and his recommendation of Cintas Corp.

Comcast Corp.'s 35 percent decline in 2007 makes the stock look cheap to Jean-Marie Eveillard, manager of the $22 billion First Eagle Global Fund.

The biggest U.S. cable network is worth $30 a share, says Eveillard, who buys stocks he deems inexpensive relative to potential earnings and sales growth. That's 73 percent higher than yesterday's closing price of $17.34 in Nasdaq trading.

Arnhold and S. Bleichroeder Advisers said on Tuesday it will reopen two of its First Eagle mutual funds that invest in overseas markets.Jean-Marie Eveillard, fund manager of First Eagle Funds, said the current volatile market environment may offer significant investment opportunities.

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Value investor Jean-Marie Eveillard's First Eagle Funds conference call transcript is released.

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Jean-Marie Eveillard, one of the most successful Global Value Investors in the last 25 years, was interviewed today on Consuelo Mack's Wealthtrack. The video can be viewed here. While the interview offers a glimpse of Eveillard and his outlook and expectations, a look at his portfolio and his current holdings is far more telling. But first, a bit of background info on Eveillard.

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