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: Putting 75% Of Your Net Worth Into A ‘Lead-Pipe Cinch’
During this Berkshire Annual Meeting, Warren Buffett discussed putting seventy five percent of his net worth into one position when you’re working with smaller sums. Here’s an excerpt from the meeting: There have been times… well initially I had 70, several times I had 75% of my net worth in … Read More
Stock In Focus – TAM Stock Screener – Boise Cascade Co (NYSE: BCC)
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 Boise Cascade Co (NYSE: BCC). Boise Cascade Co is a … Read More
Ken Fisher: Investors Overlooking The Most Important Metric – GOPM
In his latest article on Linkedin titled – When Excess Fat Is GOPM Great for You, Ken Fisher discussed why Gross Operating Profit Margins (GOPM) are so much more important than net profit margins. Here’s an excerpt from the article: Earnings, earnings, earnings! Often, that is all pundits dissect. How … Read More
How Fishing Makes You A Better Investor
In their recent episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle discussed How Fishing Makes You A Better Investor. Here’s an excerpt from the episode: Jake: All right. Fish is on the menu today, not veggies. Tobias: Fish is good for you too. Jake: … Read More
This Week’s Best Value Investing News, Research, Podcasts 9/24/2021
This week’s best investing news: How Bill Ackman Finds His Targets (Validea) Panic Series (Pt. III) – 1825 (Jamie Catherwood) A Macro View of Factors (Verdad) Mistakes were made (I did a dumb thing) (Neckar) How Warren Buffett Rewards Berkshire’s Managers For Using Less Capital (#21) (Watchlist) Let’s Keep Humans At The Heart Of Hiring Practices … Read More
This Acquirers Multiple Stock Is Appearing In Cohen, Ainslie, Greenblatt 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
Weitz: How To Identify Quality Companies
In their latest Weitz Quarterly Connection Webcast, the team discussed how they use their Weitz Quality Score Matrix to identify quality companies. Here’s an excerpt from the webcast: So, a question may be how do we identify quality companies? And, you know, we go about our process using both quantitative … Read More
Chuck Akre: Timeless Lessons From Warren Buffett
In his 1988 Shareholder Letter, Chuck Akre discussed the lessons he learned from Warren Buffett. Here’s an excerpt from the letter: Over the years, I have been most significantly influenced by the writings of Warren Buffett. (Fortunately, I have been a shareholder of Berkshire Hathaway since 1977). Warren was a … Read More
VALUE: After Hours (S03 E35): Value Growth Spread Widest Ever, Fishing With Munger In China, Think Twice
In this episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle chat about: Investing Lessons From Fishing Value Growth Spread Widest Ever Lessons From Thinking Twice Bay of Pigs & The Dangers Of Groupthink Take A Swing At China Stocks Choose One Growth Stock One … Read More
Gamification Of Robinhood
During their recent interview on The Acquirers Podcast with Tobias, Dr Richard Smith, PhD in Systems Science discussed Gamification Of Robinhood. Here’s an excerpt from the interview: Tobias: When I look at Robinhood, I think that there are two issues. One is that, we don’t necessarily know what’s happening 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
James Montier: Anyone Can Create Their Own Currency
In his latest white paper titled – Part 2: What to Do in the Case of Sustained Inflation, James Montier discusses hedges against sustained inflation. He also discusses a simple thought experiment on the difficulties of creating your own currency, digital or otherwise. Here’s an excerpt from the paper: There … Read More
Mark Leonard: Great Management – You Don’t Need To Find The Reincarnation Of Peter Drucker On Roller Skates
CSI recently released a document titled – Selected Investor Questions Received Through September 17, in which CFO Jamal Baksh and Mark Leonard respond to selected investor questions. Mark Leonard’s response to the following two questions highlights the attributes he looks for in great management. Here’s an excerpt from the document: … Read More
Scale Advantage – Suspending The Laws of Economics
In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Scale Advantage – Suspending The Laws of Economics. Here’s an excerpt from the episode: Jake: And there’s that, yes, there’s all this demand, and I think that will probably continue, but we’ll go back to … Read More
Robinhood’s Deals With Wholesale Market Makers
During their recent interview on The Acquirers Podcast with Tobias, Dr Richard Smith, PhD in Systems Science discussed Robinhood’s Deals With Wholesale Market Makers. Here’s an excerpt from the interview: Tobias: What’s wrong with that? Dr. Richard: What’s wrong with that? It incentivizes Robinhood to put their novice customers into … Read More
Sequoia : Don’t Try To Emulate Your Investing Idols
In this interview on the Value Investing With Legends Podcast, Chase Sheridan & Will Pan from Ruane, Cunniff & Goldfarb who manage the Sequoia Fund discuss why you shouldn’t try to emulate your investing idols. Here’s an excerpt from the interview: A lot of folks getting into this business want … Read More
Steven Romick: History Shows That High Earnings Growth Is Unsustainable
In his latest presentation to Nedgroup Investments, Steven Romick illustrates, using historical data, why high earnings growth is unsustainable, and why price matters. Here’s an excerpt from the presentation: Romick: A lot has to go right for these companies in the 10th decile to earn equity-like rates of return. Some … Read More
One Stock Superinvestors Are Buying
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
GMO – Growth & Value Outperformance Phenomenon
In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed GMO – Growth & Value Outperformance Phenomenon. Here’s an excerpt from the episode: Tobias: Let me take a shot at mine briefly while my internet’s working and then see what happens. GMO has their 2Q … Read More
Gamblers ‘Enjoy’ Losing
During their recent interview on The Acquirers Podcast with Tobias, Dr Richard Smith, PhD in Systems Science discussed why Gamblers ‘Enjoy’ Losing. Here’s an excerpt from the interview: Dr. Richard: Then three, another one is that, if it’s a rich complex environment with lots of learning opportunities, that’s another thing … Read More