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: Approval Is Not The Goal In Investing
In his 2008 Berkshire Hathaway Annual Letter, Warren Buffett says some people are keeping their money in the “boring place” because they feel safe. But in the long run, that’s not a smart move because the money won’t grow, and it will lose its value. Instead, he suggests thinking carefully, … Read More
Bill Nygren: How To Increase Your Odds Of Success
In this interview with Value Investing With Legends, Bill Nygren explains his investing strategy in simple terms. His team typically invests around 2% in each stock and avoids buying if the stock exceeds 3%. If a stock grows beyond 4%, they trim their holdings. They focus on managing risks sensibly … Read More
One Stock Superinvestors Are Dumping: Is It Time to Sell?
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, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray … Read More
The Casino Mentality in Modern Markets
During their recent episode, Taylor, Carlisle, and Dan Rasmussen discussed The Casino Mentality in Modern Markets. Here’s an excerpt from the episode: Dan: I wonder too if it’s not like so many things in life, the presence of cell phones, that it’s just fun to trade. Jake: Like, activity and … Read More
Warren Buffett: The Price Of A Stock Doesn’t Tell Me Anything About A Business
In this television interview, Warren Buffett explained that most professional investors focus on short-term stock price movements rather than viewing stocks as ownership in a business. True value investing means not being concerned about whether the stock market is open tomorrow. A good investment should hold its worth even if … Read More
Chris Davis: Stock-Picking Strategies for a Disconnected Market
In his recent interview with Barron’s, value investor Chris Davis discusses two key investment questions: the type of businesses to own and the price to pay for them. Viewing investments as business acquisitions, not just stock purchases, Davis highlights evaluating liabilities, undervalued assets, and long-term durability over short-term gains. He … Read More
One Stock Superinvestors Are Loading Up On
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, Prem Watsa, Jeremy Grantham, Seth Klarman, … Read More
Buying High and Hoping Higher: A Strategy as Solid as Jello
During their recent episode, Taylor, Carlisle, and Dan Rasmussen discussed Buying High and Hoping Higher: A Strategy as Solid as Jello. Here’s an excerpt from the episode: Tobias: There was a question in our comment stream about gold. I don’t know if you’ve said something about gold or– They wanted … Read More
Warren Buffett: Find Businesses That Can Thrive With Less Ongoing Effort
During the 1995 Berkshire Hathaway Annual Meeting, Warren Buffett explained the difference between businesses that require one-time smart decisions and those needing continuous smart management. Retailing, he notes, demands constant adaptability since competitors quickly mimic successful strategies. In contrast, some businesses benefit from structural advantages, allowing them to thrive with … Read More
Terry Smith: Passive Investing: The Self-Reinforcing Momentum Strategy
In his latest letter to shareholders, Terry Smith explained why passive funds are effectively momentum strategies that create a self-reinforcing cycle, driving up large-cap stocks. In late 2023, passive investments via index funds surpassed active funds in Assets Under Management (AUM), now exceeding 50%. During the Dotcom boom, only 10% … Read More
Prem Watsa – Top 10 Holdings – Latest 13F
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
VALUE: After Hours (S07 E01): Dan Rasmussen on Investing in Europe, Japan, US Small Value and The Humble Investor
In their latest episode of the VALUE: After Hours Podcast, Tobias Carlisle, Jake Taylor, and Dan Rasmussen discuss: AI: Will the Innovation Wave End in Overbuild? The Casino Mentality in Modern Markets Minsky’s Four Conditions for a Bubble: Do They Resonate Today? Is the US Holding Back Value Investing? The … Read More
Walmart Inc (WMT) DCF Valuation: Is The Stock Undervalued?
As part of a new series, each week we typically conduct a DCF on one of the companies in our screens. This week we thought we’d take a look at one of the stocks that is not currently in our screens, Walmart Inc (WMT). Profile Walmart serves as the preeminent … Read More
Weekly Investing Roundup – News, Podcasts, Interviews (01/10/2025)
This week’s best investing news: Howard Marks Memo: On Bubble Watch (OakTree) Terry Smith – Fundsmith 2024 Annual Letter (Fundsmith) Cliff Asness – 2035: An Allocator Looks Back Over the Last 10 Years (AQR) Bill Ackman Chases 1,200% Profit on a Trump Trade (Bloomberg) Bill Nygren – Why the odds … Read More
Sasol Ltd (SSL): Is This Deeply Undervalued Stock a Hidden Gem?
As part of our ongoing series here at The Acquirer’s Multiple, each week we focus on one of the stocks from our Stock Screeners, and why it’s possibly a deeply undervalued gem. The Stock this week is: Sasol Ltd (SSL) Sasol Ltd operates as a vertically integrated chemicals and energy company through … Read More
Warren Buffett on Knowing Your Strengths and Avoiding the Spotlight
In his 2019 Berkshire Hathaway Annual Letter, Warren Buffett reflects on his experience with corporate directors, acknowledging their decency, likability, and intelligence, though many lacked the aptitude for handling money or business matters. He humorously notes that everyone has areas of incompetence saying, if I were ever scheduled to appear … Read More
Joel Greenblatt: How Warren Buffett Simplifies Smart Investing
In this interview with Barry Ritholz: Joel Greenblatt highlights Warren Buffett’s analogy comparing investing in stocks to owning businesses. He explains that if someone sold a business, analyzed local businesses, and prudently invested in eight well-researched companies, it would be seen as sensible. However, when the same logic is applied … Read More
10 Worst Performing Large-Caps Last 12 Months
Over the past twelve months ten Large-Cap stocks have underperformed all others. Here’s this week’s top 10 worst performing Large-Caps in the last twelve months: Name 1 Year Price Returns (Daily) Walgreens Boots Alliance (WBA) -58.98% Moderna (MRNA) -58.26% Intel (INTC) -57.76% Celanese (CE) -54.28% Estee Lauder Companies (EL) -44.94% … Read More
Which Superinvestors Hold Acquirer’s Multiple Stocks?
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, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and … Read More
Warren Buffett: The Secret to Great Business Returns: Stability Over Decades
In his 1987 Berkshire Hathaway Annual Letter, Warren Buffett discussed the value of stability in businesses, arguing that severe change and exceptional returns rarely coexist. Many investors chase exotic, rapidly evolving companies, imagining future profitability while ignoring current realities. In contrast, Buffett highlights that the best returns often come from … Read More