How Allan Gray values stocks and why it likes Naspers, Glencore, Implats

JOHANNESBURG — Value investing is a refrain famously repeated by Warren Buffett. At its core, it simply involves buying securities that appear underpriced as per fundamental analysis. And in this interview, Allan Gray's chief investment officer, Andrew Lapping, explains how his firm has used value investing to identify Naspers, Glencore and Impala Platinum as hot stocks. Take a listen. - Gareth van Zyl