One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
VALUE: After Hours (S05 E39): Grizzly Rock’s Kyle Mowery on European and US Industrials and Value
In their latest episode of the VALUE: After Hours Podcast Jake Taylor, Tobias Carlisle, and Kyle Mowery discuss: Value Investing in Industrials with a Growth Twist Everything Is Falling Off a Cliff! Higher Incomes, Lower House Prices, or Lower Interest Rates Unit Economics: The Root of Free Cash Flow and … Read More
This Week’s Best Value Investing News, Podcasts, Interviews (10/27/2023)
This week’s best investing news: Ray Dalio – Economic Empires: Past, Present & Future | Endgame (GW) Mohnish Pabrai’s Q&A session at the Harvard Business School (MP) Michael Mauboussin – Total Shareholder Return (MS) Tom Gayner – Planting Long-Term Investment Seeds (RussellReynolds) Shorting Socialism (Verdad) Bill Ackman Says He Covered His … Read More
Why The Home Depot Inc Stock Is A Buy? Acquirer’s Multiple Stock Screener Analysis
As part of our ongoing series here at The Acquirer’s Multiple, each week we focus on one of the stocks from our Stock Screeners, and why it’s a ‘buy’ based on key fundamentals. One of the cheapest stocks in our Stock Screeners is: The Home Depot Inc (HD) Home Depot is the world’s largest … Read More
Cash is King: How Stable Capital Structures Define Reliable Businesses
During their latest episode of the VALUE: After Hours Podcast, Taylor, Carlisle, and Jakab discussed Cash is King: How Stable Capital Structures Define Reliable Businesses. Here’s an excerpt from the episode: Spencer: Yeah. This obviously doesn’t really apply to the meme stocks and things like that, but I feel like … Read More
Bill Nygren: The Art of Smart Selling: When to Part Ways with Overvalued Stocks
During this interview with Millennial Investing, Bill Nygren emphasises the importance of regularly reassessing the intrinsic value of their long-term stock holdings, which often exceed their initial estimates. Their analysts continually update their business value estimates based on new information and aim to do this formally, at least quarterly. If … Read More
Gautam Baid: The 4% Rule: How Top-Performing Stocks Drive Wealth Creation
During this interview with The Investor’s Podcast, Gautam Baid discusses the success of his India fund, which has grown 18 percent in its first 12 months. He emphasises the importance of holding onto winning stocks, as he found that only a small percentage of stocks contributed significantly to the fund’s … Read More
This Acquirers Multiple Stock Is Undervalued, According To Simons, Dalio, Greenblatt
Part of the weekly research here at The Acquirer’s Multiple features some of the top picks from our Stock Screeners and some top investors who are holding these same picks in their portfolios. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, … Read More
Navigating the ‘Q’ Designation and ‘Greater Fool’ Theory in Investing
During their latest episode of the VALUE: After Hours Podcast, Taylor, Carlisle, and Jakab discussed Navigating the ‘Q’ Designation and ‘Greater Fool’ Theory in Investing. Here’s an excerpt from the episode: Tobias: It’s not far wrong. One of the other interesting things that happened through that period was anytime a … Read More
Aswath Damodaran: Investor Awareness: The Changing Relationship with Cash and Risk Capital
In this interview with Invest Like The Best, Aswath Damodaran discusses a notable change in investors’ behavior. In the past, they didn’t pay much attention to the cash sitting in their brokerage accounts due to low interest rates. However, with current higher inflation rates, they have become more aware of … Read More
Mohnish Pabrai: Investment Wisdom Without a Degree: Learning from Buffett for Free
During this Q&A session with Harvard Business School, Mohnish Pabrai emphasizes that formal education isn’t necessary for learning about successful investing. He sees value investing as a niche, allowing him to discover market inefficiencies and mispriced businesses. He compares this to a scenario where two economists ignore a visible $100 … Read More
The One Stock That Superinvestors Are Dumping: Is It Time to Sell?
As part of the weekly research here at The Acquirer’s Multiple we’re always interested in superinvestors who hold the same stocks that appear in our Acquirer’s Multiple Stock Screeners, based on their latest 13F’s. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth … Read More
Investment Insights from Mimicry in the Natural World
During their latest episode of the VALUE: After Hours Podcast, Taylor, Carlisle, and Jakab discussed Investment Insights from Mimicry in the Natural World. Here’s an excerpt from the episode: Tobias: JT, have you got veggies there? Was that our veggies earlier? Jake: No, no, I’ve got something. We can– [crosstalk] … Read More
Charles Munger: Public Hangings and the Transformation of Corporate Behavior in Earnings Reporting
In the 2005 Wesco Financial Annual Meeting, Charles Munger discussed the obsession with companies meeting quarterly earnings targets, sometimes resorting to unethical practices like manipulating financial figures, selling assets, or using channel stuffing to boost short-term results. The penalties for such behavior were relatively lenient. Here’s an excerpt from notes … Read More
Cliff Asness: The Role of Luck in Investing Cannot Be Underestimated
During this interview with Masters in Business, Cliff Asness discusses the role of luck in investing. His fortunate position of being involved in both the traditional long-only and long/short investment worlds. He also highlights the tax efficiency gained by separating an active stock portfolio into an index fund and a … Read More
The Undervalued Stock That Superinvestors Are Loading Up On
As part of the weekly research here at The Acquirer’s Multiple we’re always interested in investing gurus who hold the same stocks that appear in our Acquirer’s Multiple Stock Screeners, based on their latest 13F’s. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, … Read More
GameStop Mania: What Went Wrong
During their latest episode of the VALUE: After Hours Podcast, Taylor, Carlisle, and Jakab discussed GameStop Mania: What Went Wrong. Here’s an excerpt from the episode: Spencer: For sure. Yes. Investing to some extent is a zero-sum game. They got zeroed out almost. They lost close to $7 billion, this … Read More
David Einhorn: Beyond Benchmarks: The True Advantage of Absolute Return Investing
In his book Fooling Some of the People All of the Time, David Einhorn explains why he’s an absolute return investor, saying absolute return investors focus on the risk-reward trade-off of an investment, while relative return investors focus on outperforming a benchmark. Here’s an excerpt from the book: We consider … Read More
Warren Buffett: Cigar Butts and Low Returns on Equity: Time is the Enemy of Poor Businesses
During the 1998 Berkshire Hathaway Annual Meeting, Warren Buffett explained why he gave up his “cigar butt” approach to investing. Arguing that businesses with low returns on equity are not good investments, even if they are purchased cheaply, because time is the enemy of the poor business and the friend … Read More
VALUE: After Hours (S05 E38): WSJ’s Spencer Jakab on The Revolution That Wasn’t: GameStop and Reddit
In their latest episode of the VALUE: After Hours Podcast Jake Taylor, Tobias Carlisle, and Spencer Jakab discuss: GameStop Mania: What Went Wrong Investment Insights from Mimicry in the Natural World Proxy Statements: The Key to Honest Investment Signals Navigating the ‘Q’ Designation and ‘Greater Fool’ Theory in Investing Cash is King: … Read More