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
$BRK.B Berkshire Versus S&P 500
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed $BRK.B Berkshire Versus S&P 500. Here’s an excerpt from the episode: Tobias: Berkshire versus S&P 500. Bill: I don’t know. Tobias: Anybody want to take a go with that? Jake: Looking backwards or forwards? Tobias: … Read More
Warren Buffett: Appointing Ethical Leaders Using ‘The Newspaper Test’
In 2005 Bill Gates and Warren Buffett did a Q&A session with students from the University of Nebraska–Lincoln to discuss a number of topics including how to instil ethical leadership into their businesses. Here’s an excerpt from the session: How do you instil ethical leadership throughout your organization and to … Read More
One Stock Superinvestors Are Selling
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
Hedge Funds for Retail Investors? An Examination of Hedged Mutual Funds
During her recent interview with Tobias, Professor Nicole Boyson discussed Hedge Funds for Retail Investors? An Examination of Hedged Mutual Funds. Here’s an excerpt from the interview: Tobias: Last question, last topic. I just wanted to discuss your hedge funds for retail investors and examination of hedged mutual funds. It’s a … Read More
Gavin Baker: Investors Have To Be Able To Deal In Paradoxes
In his recent interview with The Market NZZ, Gavin Baker, founder and Chief Investment Officer of Atreides Management discussed how investors can navigate today’s challenging environment, the changing landscape for high ROIC companies, and why investors have to be able to deal in paradoxes. Here’s an excerpt from the interview: … Read More
Edward Chancellor: Is Value Investing Set For A Revival
In his latest interview with The Market NZZ, author of Capital Returns Edward Chancellor was asked about his thoughts on the current market, bubbles, and the impact on value stocks when inflation returns. Here’s an excerpt from the interview: What does this all mean for an investor? Financial assets do … Read More
One Stock Superinvestors Are Buying
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
$NKLA Goes Downhill
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed $NKLA Goes Downhill. Here’s an excerpt from the episode: Tobias: It’s so funny that in the moment, all of these things sort of seem to make sense. But given a few years’ distance from them, … Read More
Hedge Fund Contagion and Liquidity Shocks
During her recent interview with Tobias, Professor Nicole Boyson discussed Hedge Fund Contagion and Liquidity Shocks. Here’s an excerpt from the interview: Tobias: In the SSRN, I was looking at your most downloaded papers. So, that’s Hedge Fund Contagion and Liquidity Shocks. Why is that paper so popular? Nicole: Well, … Read More
Michael Burry: How And When To Participate In Market Rallies
In his 2001 shareholder letter Michael Burry discussed how and when investors should participate in market rallies. Here’s an excerpt from the letter: The optimal way to participate in a market rally, by definition, is to buy the better-known stocks that either are in the major indices or are comparable … Read More
John Paulson’s Top 10 Holdings (Q2 2020) – Plus Top Buys & Sells
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
(Ep.85) The Acquirers Podcast: Nicole Boyson – Activist Hedge: An Academic Approach To Hedge Funds And Activism
In this episode of The Acquirers Podcast Tobias chats with Professor Nicole Boyson. She’s the Patrick F. and Helen C. Walsh Research Professor of Finance at the D’Amore-McKim School of Business. During the interview Nicole provided some great insights into: How Does Past Experience Impact Hedge Fund Activism? Hedge Fund … Read More
Stock In Focus – TAM Stock Screener – Innoviva Inc (NASDAQ: INVA)
As part of our ongoing series here at The Acquirer’s Multiple, we provide this feature article titled ‘Stock in Focus‘ where we focus on one of the stocks from our Stock Screeners. One of the cheapest stocks in our Stock Screeners is Innoviva Inc (NASDAQ: INVA). Innoviva Inc develops biopharmaceutical drugs in … Read More
Butterflies, Trust, And Ethical Collapse
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Butterflies, Trust, And Ethical Collapse. Here’s an excerpt from the episode: Jake: That’s fair. All right. There are currently roughly 10,000 species that we know of who will parasitize ants. What that means is they’ll … Read More
This Week’s Best Investing Articles, Research, Podcasts 9/25/2020
Here’s a list of this week’s best investing reads: There Is No Size Effect: Daily Edition (Cliff Asness) The Road Ahead (Jamie Catherwood) Negativity Is Not an Investment Strategy (A Wealth of Common Sense) Sounding good or Doing good? A Skeptical Look at ESG (Aswath Damodaran) A Few Rules (Collaborative Fund) What’s in an Equity Return? … Read More
Acquirer’s Multiple Stock $PHM Appearing In Grantham, Greenblatt, Dalio Portfolios
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
Morgan Housel: The Importance Of Remaining Calm Through ‘Punctuated Moments Of Terror’ In The Market
In his new book – The Psychology of Money, Morgan Housel provides a great illustration of how success in investing is achieved by remaining calm through ‘punctuated moments of terror’ in the market. Here’s an excerpt from the book. Consider what would happen if you saved $1 every month from … Read More
VALUE: After Hours (S02 E37): Butterflies, Trust, And Ethical Collapse; $NKLA Goes Downhill; $QRTEA
In this episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle chat about: Butterflies, Trust, And Ethical Collapse $NKLA Goes Downhill Berkshire Versus S&P 500 Why $QRTEA Is A Great Asymmetric Bet Opendoor Going Public By Way Of Chamath Palihapitiya SPAC Buffett’s Rare Bet On Snowflake Gross Profitability … Read More
Is This The End Of Active?
During his recent interview with Tobias, Larry Swedroe, author of The Incredible Shrinking Alpha discussed Is This The End Of Active?. Here’s an excerpt from the interview: Tobias: Given that is the case and that the paradox of skill seems to indicate that everybody is standing on their tiptoes to … Read More
Dan Loeb: Q2 2020 – Invest In ‘Compounders’, But Only At An Attractive Entry Point
In his latest Q2 2020 investor letter Dan Loeb recommends investing in quality or ‘compounder’ companies, but only at an attractive entry point. Here’s an excerpt from the letter: In 2010, I remember sharing with investors at our annual event the quotation attributed to John Maynard Keynes: “When the facts … Read More