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: 15 Book Recommendations Last 10 Years
CNBC recently compiled a list of book recommendations from Warren Buffett, taken from his shareholder letters over the past ten years. Here’s the list: 1. ‘Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger’ 2. ‘The Intelligent Investor’ 3. ‘Mitek: A Global Success Story, 1981-2011’ 4. ‘A Few … Read More
G.A.U.P – Growth At An Unreasonable Price
During his recent interview with Tobias, Vitaliy Katsenelson, author and CEO of Investment Management Associates discusses G.A.U.P – growth at an unreasonable price. Here’s an excerpt from the interview: Tobias Carlisle: What’s the difference between a growth at a reasonable price investor, and a Buffett style franchise, DCF style investor? … Read More
(Ep.41) The Acquirers Podcast: Vitaliy Katsenelson – Value Intellect, Softbank, Telsa And Value
Summary In this episode of The Acquirer’s Podcast Tobias chats with Vitaliy Katsenelson. He’s the CEO of Investment Management Associates, and the author of two books Active Value Investing and The Little Book of Sideways Markets. During the interview Vitaliy provided some great insights into: Before I Got Into Investing, I Thought … Read More
TAM Stock Screener – Stocks Appearing In Icahn, 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, … Read More
This Week’s Best Investing Articles, Research, Podcasts 12/6/2019
Here’s a list of this week’s best investing reads: Survivorship Bias: The Tale of Forgotten Failures (Farnam Street) The Portfolio Gap (The Irrelevant Investor) Where Have All The Stock Market Returns Come From This Decade? (A Wealth of Common Sense) The Big Thing Investors Have Trouble Accepting (The Reformed Broker) Why Warren Buffett Is The … Read More
Jeffrey Gundlach: US Stocks Will Be Crushed In The Next Recession
Here’s a great interview at Yahoo Finance with Jeffrey Gundlach, CEO of DoubleLine Capital in which he says US stocks will be crushed in the next recession. He also says that there is currently a forty per-cent chance of a recession in 2020. Here’s an excerpt from the interview: My … Read More
David Einhorn: Q3 2019 Top 10 Holdings
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
Seth Klarman: Q3 2019 – 3 New Buys, 3 Sold Out Positions
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
How To Screen For Potential Opportunities – Using Other Smart Investors 13F’s
During his recent interview with Tobias, the man behind the pseudonymous Twitter account, Bluegrass Capital discusses how he screens for potential opportunities, using other smart investors 13F’s. Here’s an excerpt from the interview: Tobias Carlisle: How do you find the companies that you like to invest in? What’s the search … Read More
Oh, How Times Have Changed: Ben Graham’s 10 Criteria For Valuing Stocks
In the 2004 addition of Forbes Greatest Investing Stories it lists Ben Graham’s ten criteria for valuing stocks. While this is not intended to be a criticism, it’s a great illustration of how this same criteria, which worked so well for many years, would be difficult to use when valuing … Read More
The First Question To Ask When Analysing Opportunities – What Is The Customer Value Proposition?
During his recent interview with Tobias, the man behind the pseudonymous Twitter account, Bluegrass Capital explains the importance of understanding the customer value proposition, when analysing potential investment opportunities. Here’s an excerpt from the interview: Tobias Carlisle: Okay. So you very kindly sent through a little bit about your investment … Read More
Jeff Bezos: Investors Should Focus On Free Cash Flow, Not Earnings
In Jeff Bezos’ 2004 Annual Shareholder Letter, he provided a great lesson for investors on the importance of focusing on free cash flow, as opposed to earnings. Here’s an excerpt from that letter: Our ultimate financial measure, and the one we most want to drive over the long-term, is free … Read More
Unit Economics – A Modern Value Approach
During his recent interview with Tobias, the man behind the pseudonymous Twitter account, Bluegrass Capital discusses how unit economics provide an alternative method for valuing companies today. Here’s an excerpt from the interview: Tobias Carlisle: Well, that’s very kind. I heard your podcast with Ryan Reeves and he had this … Read More
Greenbackd: (S01 E01) The VALUE: After Hours Podcast
In addition to The Acquirers Podcast, Tobias has just launched a new weekly podcast called – VALUE: After Hours on his Greenbackd website. Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment. Tobias is joined by co-hosts Bill Brewster of Sullimar Capital Group, and … Read More
(Ep.40) The Acquirers Podcast: Bluegrass Capital – Unit Economics, Incremental Returns And Intangible Capital
Summary In this episode of The Acquirer’s Podcast Tobias chats with the man behind the pseudonymous Twitter account, Bluegrass Capital. During the interview Bluegrass provided some great insights into: Unit Economics – A Alternative Method For Valuing Companies Today The First Question To Ask When Analysing Opportunities – What Is … Read More
TAM Stock Screener – Stocks Appearing In Greenblatt, Simons, Grantham 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
David Abrams: Q3 2019 Top 10 Holdings
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
This Week’s Best Investing Articles, Research, Podcasts 11/29/2019
Here’s a list of this week’s best investing reads: The 5 Types of Market Crash Predictions (A Wealth of Common Sense) No More Gurus (Collaborative Fund) How Performance Reviews Can Kill Your Culture (Farnam Street) Warren Buffett Attempted To Buy Tech Data Corp. In Thwarted $5 Billion Deal (CNBC) Is It Time To Get … Read More
Michael Burry: Q3 2019 – 4 New Buys, 7 Sold Out Positions
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
Mohnish Pabrai: 2 Investing Lessons I Have Yet To Learn Well
Here’s a great presentation with Mohnish Pabrai at Boston College (Carroll School of Mgmt). During the presentation he spoke about the two investing lessons he has yet to learn well. Here’s an excerpt from the presentation: So someone like me is still trying to learn to pay up and it’s … Read More