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
Stock In Focus – TAM Stock Screener – Points International Ltd. (NASDAQ: PCOM)
As part of a new series here at The Acquirer’s Multiple, we’re providing a new feature called ‘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 Points International Ltd. (NASDAQ: PCOM). Points International Ltd is a … Read More
Ken French: How To Evaluate Your Investment Decisions
In his recent interview on the Rational Reminder Podcast, Ken French was asked how he evaluates his investment decisions. Here’s his response: When I think about the quality of the decisions I’ve made. I have spent most of my life studying empirical data and what I know is volatility, the … Read More
The State Of Value Address – Is Value A Value Trap?
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Tobias’ article titled – Is Value A Value Trap? Here’s an excerpt from the episode: Tobias Carlisle: All right. So I wrote it for … it’s up on the acquirers multiple website. I’ll link to … Read More
This Week’s Best Investing Articles, Research, Podcasts 5/29/2020
Here’s a list of this week’s best investing reads: Last Dance Lessons: Top Investors Weigh in on Key Takeaways from the 90s Bulls (YouTube) Bubble Behavior During a Depression (A Wealth of Common Sense) What We Leave Behind (Scott Galloway) Under Pressure (The Reformed Broker) 10 Reasons Why Stocks are More Dangerous than Sports … Read More
Howard Marks: Understanding The Market Cycle Tells Investors What’s Likely To Happen Next
In his recent Real Vision interview Howard Marks discussed how understanding the market cycle can tell investors what’s likely to happen next. Here’s an excerpt from the interview: I think the the key to understanding the business cycle is… and the market cycle is that you know most behavior is … Read More
Bill Ackman: Why We’re Selling Berkshire
In his latest earnings call on Wednesday Bill Ackman discussed the reasons why Pershing Square is selling its stake in Berkshire Hathaway. Here’s an excerpt from the call: Bill Ackman With that when why don’t we talk about Berkshire? And Ryan, why don’t you update our investors on investment in … Read More
TAM Stock Screener – Stocks Appearing In Greenblatt, Rogers, Miller 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, … Read More
As Long As You’re Not A Forced Seller, You’re Going To Do Fine
During his recent interview with Tobias, Moses Kagan, Co-Founder & Partner at Adaptive Realty discussed As Long As You’re Not A Forced Seller (Of Real Estate), You’re Going To Do Fine. Here’s an excerpt from the interview: Moses Kagan: Again, this doesn’t apply to some random place, but if you’re in a great … Read More
VALUE: After Hours (S02 E21): Is Value a Value Trap, Winchester Mystery House, Cash n’ Carry
In this episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle chat about: Is Value A Value Trap? The Winchester Mystery House Cash n’ Carry Frédéric Bastiat – The Parable Of The Broken Window Eugen von Böhm-Bawerk – The Positive Theory of Capital The Power Of Network Effects … Read More
Rich Pzena: Value Stocks Recover Stronger After Periods Of Volatility
Pzena Investment Management recently released an article titled Volatility, Wide Spreads, and Value Stock Returns which illustrates how value stocks recover stronger following periods of volatility like we’ve had this year. Here’s an excerpt from that article: Daily volatility of the average stock at the end of March was as … Read More
One Stock Superinvestors Are Buying Or Holding (14)
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
Aswath Damodaran: How To Value Companies During Covid-19
Here’s an interview with Aswath Damodaran with Forbes India in which he discusses how to value companies during times of uncertainty, like we have with Covid-19. Here’s an excerpt from the interview: Q. How do we value companies if we don’t know what cashflows are going to be like, what … Read More
You’re Confused Right Now? You’re Not Alone
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed You’re Confused Right Now? You’re Not Alone. Here’s an excerpt from the episode: Bill Brewster: Yeah, no doubt. Well, good. I’m going to get into more of it. Because, I’m going to talk about how … Read More
Successfully Invest In Hyperlocal Real Estate Using One Simple Equation
During his recent interview with Tobias, Moses Kagan, Co-Founder & Partner at Adaptive Realty discussed Successfully Investing In Hyperlocal Real Estate Using One Simple Equation. Here’s an excerpt from the interview: Tobias Carlisle: Right. Just to return to you, let’s talk about the neighborhoods. You describe it in your brochure as being … Read More
Peter Bernstein: The Riskiest Moment In Investing Is When You’re Right!
Here’s a great interview with Peter Bernstein, author of Against The Gods – The Remarkable Story Of Risk, speaking with Jason Zweig in which he discusses managing risk and surviving as an investor. Here’s an excerpt from the interview: Understanding that we do not know the future is such a … Read More
Baumol’s Cost Disease
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Baumol’s Cost Disease. Here’s an excerpt from the episode: Jake Taylor: I’m not going there. This 1960s economist named William Baumol. He came up with this idea that you start with this thought that imagine … Read More
David Abrams: Top Buys, Top Sells (Q1 2020)
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
Invest In Real Estate Like A Smart Family Would Own Real Estate
During his recent interview with Tobias, Moses Kagan, Co-Founder & Partner at Adaptive Realty discussed Investing In Real Estate Like A Smart Family Would Own Real Estate. Here’s an excerpt from the interview: Moses Kagan: Adaptive is a real estate private equity firm. A tiny one in the grand scheme of things. … Read More
(Ep.68) The Acquirers Podcast: Moses Kagan – Boutique Re, How Moses Kagan Built A Boutique Property Empire
In this episode of The Acquirer’s Podcast Tobias chats with Moses Kagan, Co-Founder & Partner at Adaptive Realty, a company that buys, renovates and manages apartment buildings in Los Angeles. During the interview Moses provided some great insights into: Invest In Real Estate Like A Smart Family Would Own Real … Read More
Joel Greenblatt: Top 10 Holdings (Q1 2020)
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