Paramés is known in the financial world by the strong belief he keeps in his "Margin of Safety" investment philosophy, which prevented him from investing in technology stocks in 2000 or in companies in the banking and overheated Spanish real estate sector in 2007. Wikipedia link.
When many people were in a panic during the financial crisis, Parames showed his investors, that the time to invest heavily in equities had come.
The "Net Asset Value" is the "Mr. Market" stock price of the Fund. That is the price at which you can buy and sell on the day. The "Target price" is the intrinsic value as calculated by Parames. The "Margin of Safety" is the gap between the intrinsic value and the market price. When buying (investing) the larger the gap the better. In the short run the market price can swing wildly, but in the long run it approaches the intrinsic value. Investors who bought at 57 Euros in 2009, could sell today in 2016 for 175 Euros. A return of roughly 25% per year.
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