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Steven Wood was one of three finalists in the first Value Investing Challenge in 2012, which had more than 110 submissions that were judged by a panel of top money managers. Here's an update on his thesis on Fiat.

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Value Investing Challenge Announces Three Fina
By Value Investing Challenge
The Character Group: The Teledyne of Toys
By Evan Vanderveer and David Shapiro, Vanshap Capital
Book Excerpt: The Permanent Portfolio
By Craig Rowland and J.M. Lawson

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The Character Group: The Teledyne of Toys
By Evan Vanderveer and David Shapiro, Vanshap Capital

Character Group Plc (LON: CCT) is the fourth largest U.K. toy company behind Mattel, Hasbro, and Lego. Based in Surrey on the outskirts of London, Character started life in 1991 as a pure distribution company, servicing other toy manufacturers. Through some turbulence, including the divestiture of a troubled digital camera distribution business, the company found its stride in the mid-2000s, morphing itself into a toy designer and marketer.

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