The Bible On Capital Allocation plus His Checklist – Michael Mauboussin

Johnny HopkinsMichael Mauboussin, Resources Comments

There are a number of metrics that we use here at The Acquirer’s Multiple to establish a company’s valuation, quality and shareholder returns. One of my favorites, provided by our Deep Value Stock Screener, is Shareholder Yield. Shareholder Yield tells us what’s being returned to shareholders through a combination of dividends and share buybacks. Often investors only look at the Dividend Yield which … Read More

The Ten Attributes of Great Fundamental Investors – Michael J. Mauboussin

Johnny HopkinsMichael Mauboussin, Resources Comments

One of my favorite resources for sage advise on investing strategy is Michael J. Mauboussin. Mauboussin is the Head of Global Financial Strategies at Credit Suisse. Prior to rejoining CS in 2013, he was Chief Investment Strategist at Legg Mason Capital Management. Mauboussin is also the author of The Success Equation: Untangling Skill and Luck in Business, Sports and Investing, and Think … Read More

The Acquirer’s Multiple $45,000 – Deep Value Stock Portfolio – Real Money Game

Johnny HopkinsTAM Deep Value Stock Portfolio Comments

What is “The Acquirer’s Multiple $45,000 – Deep Value Stock Portfolio – Real Money Game”? The Acquirer’s Multiple $45,000 – Deep Value Stock Portfolio – Real Money Game is a Deep Value Stock Portfolio Game using Real Money! Huh! Well, I’ve just discovered someone that’s prepared to put their entire superannuation savings valued at $60,000 Australian Dollars (AUD) (US$45,000) into The … Read More

There are three central elements to a value-investment philosophy (Part 2) – Seth Klarman

Johnny HopkinsResources, Seth Klarman Comments

Seth Klarman is a value investor and Portfolio Manager of the investment partnership, The Baupost Group. Founded in 1983, The Baupost Group now has $27 billion in Assets Under Management. Klarman is also the author of the best selling book “Margin of Safety” which sells for around $1000 on Amazon. One of the best chapters in this book is Chapter 7, At … Read More

The Opportunity For Value Investing Right Now Is One of The Best I’ve Ever Seen – Charles Brandes

Johnny HopkinsCharles Brandes, Resources Comments

(Image Courtesy, institutionalinvestor.com) Charles Brandes is the chairman of Brandes Investment Partners. He started the firm in 1974, and manages multiple portfolios including US equity and Global Equity. Brandes Investment Partners has $26.6 Billion in Assets Under Management, as of June 2016. He has described his value investing strategy as: “Guided by the principles of Benjamin Graham widely considered the father of … Read More

Which Investing Style Is Better, Eddie Lampert or Seth Klarman? – Zeke Ashton

Johnny HopkinsResources, Zeke Ashton Comments

Zeke Ashton is the founder and managing partner of Centaur Capital Partners. Founded in 2002, Centaur Capital Partners specializes in value-oriented investment strategies. Prior to launching Centaur Capital, Ashton served as an investment analyst and featured writer for The Motley Fool, an investment media company. From 1995 – 2000, Ashton worked in treasury and risk management consulting, where he worked … Read More

How To Think About The Impact of Technlogy In Investing – Tom Gayner (Markel Corporation)

Johnny HopkinsResources, Tom Gayner Comments

Tom Gayner is the Co-Chief Executive Officer at Markel Corporation, a holding company for insurance, reinsurance, and investment operations around the world. Markel has often been compared to Berkshire Hathaway in the way that it invests its insurance float in other businesses. Gayner has been a very successful value investor over the years. His equity portfolio has earned a weighted average annual return of 11.2%, nearly … Read More

Undervalued Stocks | Argan, Inc. (NYSE:AGX)

Johnny HopkinsStocks Comments

Argan, Inc. is a holding company that conducts operations through its wholly-owned subsidiaries, GPS, APC, SMC and TRC. Through GPS and APC, Argan provides a full range of engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets for a wide range of customers including independent power project owners, public utilities, power … Read More

What Are The Three Components Of An Equity Investment’s Return – Mason Hawkins

Johnny HopkinsMason Hawkins, Resources Comments

(Image Credit, marcellusdrilling.com) Mason Hawkins has been Chairman and Chief Executive Officer of Southeastern Asset Management since 1975. Southeastern Asset Management is a privately owned, global investment management firm and the investment advisor to the Longleaf Partners Funds with over $20 Billion in Assets Under Management. Southeastern Asset Management have consistently employed a time-tested value approach to long-only equity investing for … Read More

Deep Value Investing – Amit Wadhwaney

Johnny HopkinsAmit Wadhwaney, Resources Comments

(Image Credit, youtube.com) Amit Wadhwaney is a Portfolio Manager and Co-Founding Partner at Moerus Capital Management LLC, and the founding manager of the Moerus Worldwide Value Fund. Wadhwaney has over 25 years of experience researching and analyzing investment opportunities in developed, emerging, and frontier markets worldwide, and has managed global investment portfolios since 1996. Prior to founding Moerus, Wadnwaney was a portfolio manager … Read More

GuruFocus Book Review – Deep Value – Tobias Carlisle

Johnny HopkinsBook Review - Deep Value Comments

(Image Credit, returntome.info) Here at The Acquirer’s Multiple, we don’t like to ‘blow our own trumpets”. We like to let others do it for us! Our Founder, Tobias Carlisle, wrote an Amazon best-seller called Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations which describes the process of finding companies with a low rank based on The Acquirer’s Multiple®, … Read More

What Does It Take To Be A Successful Contrarian Value Investor – John Rogers

Johnny HopkinsJohn Rogers, Resources Comments

(Image Credit, cnbc.com) John Rogers is a true contrarian value investor. In 1983, Rogers founded Ariel Investments headquartered in Chicago. Since its inception, Ariel Investments has grown from 2 to 88 employees with $10.7 billion in Assets Under Management (2015). In 2008, he was awarded Princeton University’s highest honor, the Woodrow Wilson Award, presented each year to the alumnus whose career … Read More

Going For Too Much Certainty Can Hold You Back – There Is No Certainty – Glenn Greenberg

Johnny HopkinsGlenn Greenberg, Resources Comments

Glenn Greenberg is the founder and portfolio manager of Brave Warrior Capital. Previously, Greenberg ran Chieftain Capital Management, which he founded in 1984. Brave Warrior Capital has $3.2 Billion in Assets Under Management. Mr. Greenberg holds an English degree from Yale and is a graduate of Columbia Business School. When he was at business school, the only thing that appealed to … Read More

Advisors And Fund Managers Ignore Value Because It Carries Higher Career Risk

Johnny HopkinsValue Investing News Comments

Value investing requires a long term time horizon involving patience and discipline. Unfortunately for advisors and fund managers, their own performance is judged on much shorter time periods. As such, these ‘agents’ face a powerful incentive to minimize short-term drawdowns relative to peers and benchmarks. Here’s a great article that explains the disconnect between what’s best for investors and what’s … Read More

Look At Equities Like A Bond Buyer Would Look At Bonds – Donald Yacktman

Johnny HopkinsDonald Yacktman, Resources Comments

(Image Credit, youtube.com) Donald Yacktman is the President and Co-Chief Investment Officer of Yacktman Asset Management Co. He’s also a Co-Manager for the Yacktman Funds. Yacktman Asset Management  provides two no load funds, one diversified and one focused, aimed at providing a blend of growth and value investing. As of June 30, 2016, Yacktman Asset Management has $12.08 billion in Assets … Read More

Human Nature Makes It Hard For Markets To Be Efficient – Seth Klarman

Johnny HopkinsResources, Seth Klarman Comments

Seth Klarman is a value investor and Portfolio Manager of the investment partnership The Baupost Group. Founded in 1983, The Baupost Group now manages $27 billion in Assets Under Management, and has averaged returns of nearly 20% annually since their inception. Klarman is also author of the book “Margin of Safety“. Published in 1991, it is now out of print, … Read More