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
Warren Buffett: Why Utility Businesses Make Good Investments
It’s no surprise that Warren Buffett recently agreed to buy Dominion Energy’s natural gas assets in a $10 billion deal. Back in 1998, in a lecture at the University of Florida School of Business, he was asked specifically about his thoughts on utility businesses. Here’s his response: Well I’ve thought … Read More
TAM Stock Screener – Stocks Appearing In Dalio, Greenblatt, Einhorn 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
How Would A Young Warren Buffett Invest Today?
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed How Would A Young Warren Buffett Invest Today? Here’s an excerpt from the episode: Tobias: Got a good question. Got a Superchat. So, the question was, Buffett gets a million dollars. What does Buffett do to … Read More
Does Price-To-Book Still Work?
During his recent interview with Tobias, Cliff Asness, Co-Founder of AQR discussed Does Price-To-Book Still Work? Here’s an excerpt from the interview: Tobias: I wonder if I could just take you through, from your colleague’s paper Israel, Lawson, and Richardson. They identify five of these arguments and then they deal with each one … Read More
Julian Robertson: The Best Way To Invest Is To Go Long And Short Stocks
In this interview with the Graham & Doddsville Newsletter investing legend Julian Robertson provided some great insights into the best way to invest. Here’s an excerpt from the interview: JR: I believe that the best way to manage money is to go long and short stocks. My theory is that … Read More
Munger’s FOMO Moment Made Him Millions
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed how Munger’s FOMO Moment Made Him Millions. Here’s an excerpt from the episode: Tobias: So, I got a question, bit personal to me. But if I had to write Deep Value today, would I add … Read More
Do Fundamentals Still Matter?
During his recent interview with Tobias, Cliff Asness, Co-Founder of AQR discussed Do Fundamentals Still Matter? Here’s an excerpt from the interview: Tobias: That’s a good segue into– one of the questions that they ask is, do fundamentals still matter? They have a very interesting approach to assessing that– create this look– it’s … Read More
(Ep.74) The Acquirers Podast: Cliff Asness – Cliff’s Perspective, Systematic Value. Do Fundamentals Matter?
In this episode of The Acquirer’s Podcast Tobias chats with Cliff Asness, Co-Founder of AQR. During the interview Cliff provided some great insights into: Systematic Value Investing Do Fundamentals Still Matter? Does Price-To-Book Still Work? Is There A Correlation Between Value Investing And Interest Rates The Reason That Value Hasn’t … Read More
Charles Munger: Top 10 Holdings (Q2 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
Stock In Focus – TAM Stock Screener – Heidrick & Struggles International, Inc. (NASDAQ: HSII)
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 Heidrick & Struggles International, Inc. (NASDAQ: HSII). Heidrick & Struggles … Read More
Bernstein’s Deep Risk: How History Informs Portfolio Design
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed lessons learned from William Bernstein’s Book – Deep Risk: How History Informs Portfolio Design. Here’s an excerpt from the episode: Jake: All right. This week, I’m going to be talking about this neat little … Read More
This Week’s Best Investing Articles, Research, Podcasts 7/3/2020
Here’s a list of this week’s best investing reads: Fraud, Short Sellers & Media (Jamie Catherwood) Joe Granville: The Original Dave Portnoy (A Wealth of Common Sense) Asset Allocation Beyond the Zero Bound (Verdad) When should you sell your stocks? Only in these cases (Forbes) A Viral Market Update XI: An Ode … Read More
Aswath Damodaran: The Venetian Glassmaker – Dumbing-Down Valuation Techniques
In a recent interview with Barron’s, Aswath Damodaran discussed glamour stocks, gig-economy companies, buying Tesla, and valuation techniques including how investors can dumb-down their valuation process to the bare minimum. Here’s an excerpt from the interview: Barron’s: Tell us about teaching stock valuation. Aswath Damodaran: Everything I know about valuation I’ve … Read More
Michael Mauboussin: Perform A ‘Premortem’ Before You Invest
In Michael Mauboussin’s book, Think Twice: Harnessing the Power of Counterintuition, there’s a great passage on how investors can make better investment decisions using what he terms a ‘premortem’. Here’s an excerpt from the book: Many people are familiar with a postmortem, an analysis of a decision after the outcome is … Read More
TAM Stock Screener – Stocks Appearing In Klarman, Greenblatt, Simons 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
VALUE: After Hours (S02 E26): Bill’s Robinhood Follow-up, Bernstein’s Deep Risk, $INTC and $LMT
In this episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle chat about: Bernstein’s Deep Risk: How History Informs Portfolio Design Great Opportunities Today For Deep Value Investors Munger’s FOMO Moment Made Him Millions How Would A Young Warren Buffett Invest Today? Bill’s Robinhood Follow Up Comparing This … Read More
How Share-Based Compensation Lowers Returns
During his recent interview with Tobias, Partha Mohanram, a Professor of Accounting and John H. Watson Chair in Value Investing at The University of Toronto discussed How Share-Based Compensation Lowers Returns. Here’s an excerpt from the interview: Tobias: One of your papers that I discovered it after you got in contact with me, … Read More
Jim Simons: Make A Decision Even If It’s Wrong! Don’t Dawdle.
Here’s a great interview with Jim Simons on the Into The Impossible Podcast in which he discusses life lessons and leadership lessons, including his thoughts on decision making which is particularly relevant to investing. Here’s an excerpt from the interview: Q: You once told me that you read a fiction … Read More
One Stock Superinvestors Are Buying Or Holding (19)
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
Treacherous Markets
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Treacherous Markets. Here’s an excerpt from the episode: Tobias: So, I just been really enjoying watching Davey Day Trader on the Twitter machine and everything else. Clearly, there are lots of folks following him and … Read More