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

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 12 Commandments of Warren Buffett’s Hero, Philip Carret

Johnny HopkinsStocks Comments

Late last year The Telegraph did a great piece on value investing legend Philip Carret, who Warren Buffett described as one of his hero’s. After founding his Pioneer Fund in 1928, one year before the great depression, Carret successfully steered his fund consistently upwards through the Great Depression and the Second World War and his career ultimately encompassed a total … Read More

Howard Marks And Joel Greenblatt: “I Think You And I Would Agree That People Are Nuts.” Time Favors The Rational.

Johnny HopkinsStocks Comments

Earlier this year, Howard Marks and Joel Greenblatt came face to face at the inaugural Forbes and Shook Research Top Financial Advisor Summit in Las Vegas where it became apparent that their worldview is nearly identical. When speaking about the current market conditions the pair said, “Most people, including most people in the investment business, don’t have the ability to take advantage … Read More

New Evidence Shows Graham and Dodd Were Right About Most Quant Investing Strategies

Johnny HopkinsGraham and Dodd Comments

A recent publication in the Financial Analysts Journal called Facts about Formulaic Value Investing, by U-Wen Kok, Jason Ribando and Richard Sloan demonstrates that most quantitative investing strategies used today are unlikely to generate superior investment performance even with the advent of computers and financial databases. The research states, “We found little compelling evidence that a strategy of buying US equities that seem underpriced … Read More

Jason Zweig: You Should Approach All Claims Of Market-Beating Patterns With Extreme Skepticism

Johnny HopkinsJason Zweig Comments

One of our favorite finance writers at The Acquirer’s Multiple is Jason Zweig. Zweig is a personal finance columnist for The Wall Street Journal. He’s also the editor of the revised edition of Benjamin Graham’s The Intelligent Investor (HarperCollins, 2003), the classic text that Warren Buffett has described as “by far the best book about investing ever written.” He recently wrote a … Read More

Aswath Damodaran: The Story Is What Gives ‘Soul’ To Your Business Valuation

Johnny HopkinsAswath Damodaran Comments

One of the finance professors we follow closely at The Acquirer’s Multiple is Aswath Damodaran. Damodaran holds the Kerschner Family Chair in Finance Education and is Professor of Finance at New York University Stern School of Business. Recently, Damodaran did an awesome presentation for the folks at Google on business valuation saying, “Business valuation is not just about numbers”. He adds, “The story is … Read More

Bruce Greenwald: You Will Do Much Better Investing In Ugly Diseased Stocks Than Glamorous Stocks

Johnny HopkinsBruce Greenwald Comments

One of our favorite finance professors here at The Acquirer’s Multiple is Bruce Greenwald. Greenwald holds the Robert Heilbrunn Professorship of Finance and Asset Management at Columbia Business School and is the academic Director of the Heilbrunn Center for Graham & Dodd Investing. Described by the New York Times as “a guru to Wall Street’s gurus,” Greenwald is an authority … Read More

John Huber – Short-Termism Provides Value Investors With A Significant Sustainable Advantage

Johnny HopkinsJohn Huber, Saber Capital Comments

One of the value investors we like to follow closely at The Acquirer’s Multiple is John Huber at Saber Capital Management LLC. Huber writes some of the best shareholder letters for his clients. In his latest 2016 investor letter he wrote a great piece that provides some awesome value investing nuggets: Investing is a marathon, and each year can be … Read More

George Athanassakos: The Shift Towards Passive Investing Is Creating An Opportunity For Active Investors

Johnny HopkinsGeorge Athanassakos Comments

One of the academics we like to follow closely at The Acquirer’s Multiple is George Athanassakos. Athanassakos is the Director of the Ben Graham Centre for Value Investing Ivey Business School. He recently wrote a great article that makes the case for why the market needs stockpickers now more than ever. The article, written at MoneySense, is titled, Stockpickers Turn To Shine … Read More

Pzena Investment Management: Investing In The Cheapest Stocks Provides Superior Investment Performance Over The Long Term

Johnny HopkinsRichard Pzena Comments

One of the investors we follow closely at The Acquirer’s Multiple is Rich Pzena at Pzena Investment Management (Pzena). Pzena recently released its Q1 2017 commentary in which they demonstrate how investing in the cheapest stocks provides superior investment performance over the long term. Here’s an excerpt from the Q1 2017 commentary:

David Wallack (T. Rowe Price) – How Be A Successful Contrarian Investor

Johnny HopkinsDavid Wallack Comments

David Wallack is the portfolio manager of the T. Rowe Price Mid-Cap Value Fund and was recently named by Morningstar as the 2016 U.S. Domestic-Stock Fund Manager of the Year. Wallack is known as a contrarian value investor. He recently did a great interview with WealthTrack in which he discusses his contrarian investing approach. In terms of finding contrarian investing opportunities he … Read More

Meb Faber – Here’s Why Investors Are Missing Out By Ignoring Total Shareholder Yield

Johnny HopkinsMeb Faber Comments

One of the blogs that we follow closely here at The Acquirer’s Multiple is mebfaber.com. Meb provides a lot of great investing insights in his articles. Earlier this year he wrote a great piece on the importance of looking at total shareholder yield instead of simply looking at dividend yield when considering stocks to purchase. The article is titled Cash Cows of the … Read More

Jeremy Grantham: The Rules Have Changed for Value Investors

Johnny HopkinsJeremy Grantham Comments

GMO Co-founder Jeremy Grantham recently did an interview with Wealthmanagement.com in which he discusses how the world has changed for value investors. He says, “Since 2000, it’s become much more complicated. The rules have shifted. We used to say that this time is never different. I think what has happened from 2000 until today is a challenge to that. Since … Read More

TAM Deep Value Stock Portfolio Up 12.25%, Outpacing Russell 3000 Index by 1.55%

Johnny HopkinsTAM Deep Value Stock Portfolio Comments

The TAM Deep Value Stock Portfolio is up 12.25% today outpacing the Russell 3000 Index by 1.55%, since inception. The portfolio has been boosted by the recent Q1 2017 earnings results of Bridgepoint Education Inc (NYSE:BPI), which had a 200% turnaround in Q1 earnings compared to the previous corresponding period, and Eastman Kodak (NYSE:KODK), which is expected to release its … Read More