We’ve launched a new investment firm called Acquirers Funds® to help you put the acquirer’s multiple into action. Acquirers Funds® Our investment process begins with The Acquirer’s Multiple®, the measure used by activists and buyout firms to identify potential targets. We believe deeply undervalued, and out-of-favor stocks offer asymmetric returns, with … Read More
PepsiCo Inc (PEP) DCF Valuation: Is The Stock Undervalued?
As part of a new series, each week we typically conduct a DCF on one of the companies in our screens. This week we thought we’d take a look at one of the stocks that is not currently in our screens, PepsiCo Inc (PEP). Profile PepsiCo is a global leader … Read More
This Week’s Best Value Investing News, Podcasts, Interviews (07/26/2024)
This week’s best investing news: Howard Marks – Getting The Odds On Your Side (3 Takeaways) The Rise of Alternatives (Verdad) Pzena Investment Management Q2 2024 Commentary: US Dominance and Global Market Trends (Pzena) Oakmark’s Bill Nygren on Alphabet’s Q2 earnings (CNBC) Aswath Damodaran – Country Risk: The 2024 Update (AD) … Read More
Why Unilever PLC (UL) 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: Unilever PLC (UL) Unilever is a diversified personal-care (52% of 2022 … Read More
Why Society Needs More ‘Elon Musks’ with Better Risk Management
During their recent episode, Taylor, Carlisle, and Luca Dellanna discussed Why Society Needs More ‘Elon Musks’ with Better Risk Management, here’s an excerpt from the episode: Jake: I wondered if reading biographies might have some problematic nature to it, because biographies are all Alice’s. No one’s reading Bob’s biography. So, … Read More
Mohnish Pabrai: Investing Success: The Case for Doing Nothing
In this article titled – Buffett Succeeds At Nothing, Mohnish Pabrai reflects on Blaise Pascal’s quote about misery stemming from an inability to sit quietly and applies it to portfolio managers. He discusses D. E. Shaw & Co., a firm that achieved spectacular risk-free returns through sophisticated bond arbitrage, allowing … Read More
Jeremy Grantham: Overcoming Fear in Investing: Key Steps to Avoid Terminal Paralysis
In this article titled – Reinvesting when Terrified, Jeremy Grantham discusses how to invest during periods of terminal paralysis, which in the context of investing refers to a state of inaction and indecisiveness caused by fear and uncertainty, particularly during market downturns or volatile periods. Investors in this state are … Read More
Large-Cap Stocks In Trouble: Here Are The 10 Worst Performers Over The Past 12 Months
Over the past twelve months ten Large-Cap stocks have underperformed all others. Here’s this week’s top 10 worst performing Large-Caps in the last twelve months: Name 1 Year Price Returns (Daily) Walgreens Boots Alliance (WBA) -60.67% Albemarle (ALB) -56.72% Paycom Soft (PAYC) -52.56% Estee Lauder Companies (EL) -42.15% Enphase Energy … Read More
Which Superinvestors Hold Acquirer’s Multiple Stocks?
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
Understanding Reproducible Strategies in Investment
During their recent episode, Taylor, Carlisle, and Luca Dellanna discussed Understanding Reproducible Strategies in Investment, here’s an excerpt from the episode: Jake: So, my segment this week, Toby, is asking Luca questions about the book. So, maybe I’ll keep going in this thread. How does this relate then to the … Read More
François Rochon: Market Opinions vs. Company Value: The Short-Term Stock Market
In his 2020 Giverny Capital Annual Letter, François Rochon explained how on April 20, 2020, a bizarre event occurred in the financial markets when the price of West Texas Intermediate crude oil futures for May delivery plummeted from $18 to -$37 per barrel. This unprecedented situation, where sellers paid buyers … Read More
Warren Buffett: Seizing Opportunities with Small Amounts of Capital
During the 2010 Berkshire Hathaway Annual Meeting, Warren Buffett discusses the perpetual presence of investment opportunities, particularly for those not managing large sums of money. He highlights the inherent conflict in the investment management industry, where asset gathering can overshadow asset management. Buffett illustrates this with an example from Charlie … 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
Value Investing and Ergodicity: A Framework for Long-Term Success
During their recent episode, Taylor, Carlisle, and Luca Dellanna discussed Value Investing and Ergodicity: A Framework for Long-Term Success, here’s an excerpt from the episode: Tobias: I think one of the things that value guys do, and probably the reason that Jake and I are so attracted to the idea … Read More
Leon Cooperman: As AI Captures Attention, One Overlooked Sector Offers Hidden Value
In this interview with Jon Schultz, Leon Cooperman observes that technological advancements can render existing technologies obsolete. Highlighting past market trends, he recalls the overvaluation of Cisco during the internet boom, and the collapse of the “Nifty Fifty” stocks in the 1970s due to the oil crisis. Cooperman suggests the … Read More
Howard Marks: 3 Investment Essentials For All Investors
In this interview with 3 Takeaways, Howard Marks provides his three investment essentials for all investors. Marks explains that the market is unpredictable and constantly changing, so one should not be overconfident in their predictions. He states that higher returns generally require higher risks, and that offers promising high returns … 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
Ergodicity in Action: A Story of Ski Racing and Investment
During their recent episode, Taylor, Carlisle, and Luca Dellanna discussed Ergodicity in Action: A Story of Ski Racing and Investment, here’s an excerpt from the episode: Luca: Yeah. So, the trick is to avoid defining it and make an example first. Because when people hear the story, they understand it … Read More
Nassim Nicholas Taleb: The Myth of Skill In Investment Management
In his book – Fooled by Randomness, Nassim Nicholas Taleb discusses how success can easily by attributed to luck, and introduces the Monte Carlo engine to simulate purely random situations, avoiding conventional methods of attribute analysis. By generating artificial scenarios with known attributes, the Monte Carlo engine can demonstrate outcomes … Read More
Warren Buffett: Investing Is All About Knowing What You Know
In his 1999 Berkshire Hathaway Annual Letter, Warren Buffett explains that he and Charlie Munger aren’t distressed by their lack of tech insights, as there are many areas where they lack expertise. They avoid making judgments in fields like patents and manufacturing, focusing instead on operating within their circle of … Read More
Rich Pzena – Top 10 Holdings – Latest 13F
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