Our guest on the podcast this week is Charles de Vaulx. De Vaulx is chief investment officer and portfolio manager at International Value Advisers, where he is also a partner. With his colleague Chuck de Lardemelle, de Vaulx manages the IVA International and IVA Worldwide strategies. Before joining IVA in 2008, de Vaulx had been the portfolio manager of First Eagle Global, First Eagle Overseas, First Eagle U.S. Value, and First Eagle Variable. For his accomplishments, Morningstar has recognized de Vaulx several times in the past, awarding him and his comanager our International-Stock Manager of the Year Award in 2001 and nominating them for the same award in 2006. De Vaulx began his career at Societe Generale Bank as a credit analyst in 1985. He graduated from the Ecole Superieure de Commerce de Rouen and holds the French equivalent of a master's degree in finance.BackgroundCharles de Vaulx bioCharles de Lardemelle bioIVA Worldwide IVWIX IVA International IVIOX ReferencesModern monetary theory (MMT) definitionHerfindahl-Hirschman Index (HHI) definitionCreative destruction definitionA History of Interest Rates, by Sidney Homer and Richard Sylla; 2007"The Irresistible Charm of the Family Factor," by Credit Suisse, Sept. 27, 2017Jean-Marie Eveillard bio"The Superinvestors of Graham-and -Doddsville," by Warren Buffett, Columbia Business School, May 17, 1984Berkshire Hathaway 2013 shareholder letter, Page 20Edward O. Thorp bioSuperforecasting: The Art and Science of Prediction, by Philip E. Tetlock and Dan Gardner, 2016