The international value investor and Moerus co-founder on the importance of conviction, survivability, risk aversion, industry structure, and opportunities for value investors in today’s market. Episode Highlights Investing Versus the Business of Investing Why Macroeconomic Forecasting Often Fails Investors  Survivability as the Core of Risk Management Why “Trouble” Creates Opportunity for Value Investors Exploring Value-Accretive Corporate Activity Is Today’s Market Setting Up a Value Comeback?