John Rogers: In Investing, Brains Are More Reliable Than Machines. Here’s Why

Johnny HopkinsJohn Rogers Comments

Just read a great article by John Rogers from Ariel Appreciation, who illustrates why brains are more reliable that machines in the world of investing. It reminded me of an article by Scientific American which says, “Computers are good at storage and speed, but brains maintain the efficiency lead”. The article went on to say: For decades computer scientists have strived to … Read More

Howard Marks: 7 Principles For Identifying Investment Opportunites

Johnny HopkinsHoward Marks Comments

Howard Marks is a modern day Superinvestor like Seth Klarman and Mohnish Pabrai. His memos provide investors with a great deal of insight on investing strategy. One of our favorites memos was an Addendum he added to his third quarter client letter in 1994 in which he provides seven principles for identifying investment opportunities. It’s a must read for all … Read More

(Month 8) TAM Deep Value Stock Portfolio Up 13.77% – Global Sources Ltd up 158%

Johnny HopkinsTAM Deep Value Stock Portfolio Comments

Today is the end of Month Eight of The Acquirer’s Multiple – Deep Value Stock Portfolio, and the portfolio is up 13.77%, leading the comparative Russell 3000 Index by 2.44%, since inception. The plan is to build my portfolio over the next twelve months and ongoing. After twelve months I’ll have thirty stocks equally weighted in the portfolio, then I’ll re-balance … Read More

50 Of The Best Investing Blogs On The Planet (2017)

Johnny HopkinsValue Investing News Comments

Every year Tobias and I sit down to pick out fifty of the best investing blogs on the planet. This list is by no means complete and is certainly not in any particular order. If you’re an investor take some time to read through the great blogs on this list, they’ll provide you with an awesome starting point for your investing education. … Read More

Jesse Livermore – 21 Investing Rules That Have Stood The Test Of Time For 77 Years

Johnny HopkinsJesse Livermore Comments

Before the modern day tweeter @Jesse_Livermore, there was a famous investing legend also called Jesse Livermore. The original Livermore was born in 1877 and died in 1940. Livermore was famous for making and losing several multimillion-dollar fortunes and short selling during the stock market crashes in 1907 and 1929. Livermore was an investing genius who unfortunately could not stick to his own rules … Read More

A Value Investors Mecca Should Extend Beyond Omaha To Toronto And Prem Watsa

Johnny HopkinsPrem Watsa Comments

Great article in the AFR that suggests Omaha is not the only place that value investors are heading to for great ideas. It seems Denver and Toronto are becoming equally important destinations, as are the annual meetings of Markel Corporation and Fairfax Financial, as investors prepare for life after Buffett and Munger. Toronto in time may become the next Omaha. For … Read More

America Is Great. Home Country Bias Ain’t (GMO)

Johnny HopkinsJeremy Grantham Comments

Here’s a great article from the team at GMO that demonstrates how “home country bias” may be hurting your performance. Home country bias means investors have a natural tendency to focus their investments in companies and markets in their own country. Here’s an excerpt from that article:

Rob Arnott: How “Smart Beta” Investing Can Become Dumb Investing

Johnny HopkinsRob Arnott Comments

One investor and writer that we follow closely here at The Acquirer’s Multiple is Rob Arnott. Arnott is the founder and chairman of Research Affiliates. He’s also the portfolio manager on the PIMCO All Asset and All Asset All Authority family of funds and the PIMCO RAE™ suite of funds. Earlier this year, Arnott and his colleagues at Research Affiliates … Read More

Global Sources Ltd. (Bermuda) Up 48.96% Overnight

Johnny HopkinsGSOL, Stocks Comments

One of the stocks I added to the TAM Deep Value Stock Portfolio last month was Global Sources Ltd. (Bermuda) (NASDAQ:GSOL). Global Sources Ltd. is a business-to-business (B2B) media company that provides information and integrated marketing services, with a particular focus on the Greater China market. I wrote about the purchase in my Month Six Update when it was trading at $8.25. So, it … Read More

Buffett Says Bogle Is a Hero. Bogle Says He Just Gave A Damn About Investors

Johnny HopkinsJohn Bogle Comments

During the recent Berkshire Hathaway Annual General Meeting Warren Buffett said Jack Bogle, the founder of Vanguard, had probably done more for investors than anyone. Bogle says, “I’m an ordinary guy just trying to do my best for investors and who gave a damn about investors”. Here’s a recent interview by Bogle with CNBC where he discusses Buffett’s comments and … Read More

Joel Greenblatt – Individual Investors Can Beat Large Institutions And Passive Strategies – Here’s How

Johnny HopkinsJoel Greenblatt Comments

One of our favorite Joel Greenblatt interviews is one he did with Steve Forbes at Intelligent Investing. In this interview, Greenblatt explains how small investors can still beat large institutions. Greenblatt also discusses why investing in indexes like The Russell 1000 and the S&P 500 are seriously flawed even though they beat most active managers. He highlights why value investors … Read More

The Olstein Funds – Look For Solid Businesses Facing Strategic Challenges

Johnny HopkinsRobert Olstein Comments

One of the firms we follow closely at The Acquirer’s Multiple is Olstein Capital Management and its Chairman, Bob Olstein. Last month, Olstein’s Executive Vice Chairman Eric Hayman did a great interview with The Wall Street Transcript (TWST) in which he discussed how the firm finds value opportunities in a world of information overload. Hayman says, “We believe that a forensic … Read More

Greenwald Says Mitch Julis Is One Of The Best Value Investors – Here’s Why

Johnny HopkinsMitch Julis Comments

One of our favorite investors at The Acquirer’s Multiple is Mitch Julis at Canyon Partners. In a recent Barron’s article, Bruce Greenwald was asked who are the best value investors to which he replied, “Warren Buffett, obviously; Seth Klarman [Baupost Group]; Howard Marks [Oaktree Capital Management]; Mitch Julis [Canyon Partners]. They are very disciplined. And you want people who are … Read More