In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discuss Lyapunov Time. Here’s an excerpt from the episode: Jake: Yeah, sure. [laughs] All right, so, this topic is called the Lyapunov time. That’s spelled L-Y-A-P-U-N-O-V. That was a Russian mathematician. This has to do with … Read More
Horizon Kinetics: How the Markets Might Distract, or Harm (or help)
In their latest Q4 2021 Quarterly Review, Horizon Kinetics provide some great illustrations of how the markets might distract, or harm (or help) investors. Here’s an excerpt from the review: This section was prompted by a professional-investor client, who suggested an update on the concentration in the S&P 500. It’s … Read More
David Poppe: Arguing With Mr. Market
In his latest Q4 2021 Letter, David Poppe discusses arguing with Mr. Market. Here’s an excerpt from the letter: At various points we pruned Alphabet, Carmax, Arista Networks, Credit Acceptance, Eurofins, and JP Morgan. Of those, we reduced JP Morgan to make room for M&T Bank, but the others were … 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
Second Derivative Suffering
In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discuss Second Derivative Suffering. Here’s an excerpt from the episode: Tobias: It’s funny how hot all of these topics get. Someone reminded me that I had something nasty to say about beyond meat right at the … Read More
David Herro: Volatility Is Not A Proxy For Risk
In his latest presentation with the ALIGN Spotlight Series, David Herro explains why volatility is not a proxy for risk. Here’s an excerpt from the presentation: The object is to beat the index, and I would also add I mean there has to be a real rate of return. Now we … Read More
Terry Smith: Good Companies Don’t Become Bad Companies
In his latest presentation with MeDirect Malta, Terry Smith illustrates why good companies don’t become bad companies. Here’s an excerpt from the presentation: This slide (below) shows quite a long period of time back to 1966 and it shows the return on capital for companies, the ones in the red … Read More
One Stock Superinvestors Are Buying Or Holding
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
Defying Base Rates
In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discuss Defying Base Rates. Here’s an excerpt from the episode: Bill: I just think with base rates, I really think it’s got to be contextualized and especially, when you overlay the idea of such a few … Read More
Michael Mauboussin: A Framework To Analyze Any M&A Deal
In his latest interview with TMF, Michael Mauboussin offers a framework for investors to analyze any M&A deal. Here’s an excerpt from the interview: M&A deals generally have a strategic and a financial rationale. A target company may be a great business but the acquirer still risks overpaying if its … Read More
Carl Icahn: The Death of Activism
In his latest interview with CNBC, Carl Icahn discusses the death of activism. Here’s an excerpt from the interview: Icahn: It makes no sense to make it tougher and tougher for the activism to work and with me we take big positions, we make tender offers, we have permanent capital, … Read More
Chris Bloomstran Top 10 Holdings – Latest 13F, Buys DLTR, VIAC, ALK, BRK.B, HFC
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 (S04 E03): Greenwald On Buffett’s Moats, Defying Base Rates, The Lyapunov Window
In this episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle chat about: Defying Base Rates Second Derivative Suffering Lyapunov Time Greenwald on Buffett’s Moats Brewster On Chamath IEP, Berkshire, IAC, or Markel? Hedging At The Extremes Oil Is The Natural Interest Rate Sol Price … Read More
Stock In Focus – TAM Stock Screener – Quidel Corporation (NASDAQ: QDEL)
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: Quidel Corporation (NASDAQ: QDEL) Quidel Corp is engaged in the development, … Read More
Jeremy Grantham: Let The Wild Rumpus Begin*
In his latest commentary titled – Let The Wild Rumpus Begin*, Jeremy Grantham explains why we are currently in the fourth superbubble of the last hundred years. Here’s an excerpt from the commentary: All 2-sigma equity bubbles in developed countries have broken back to trend. But before they did, a … Read More
This Week’s Best Value Investing News (1/21/2022)
This week’s best investing news: Innovation Hubs – Past, Present & Future (Jamie Catherwood) How A Flood Swamped Wood’s ARK (Verdad) You’re Not Wrong, Walter (Epsilon Theory) Dr. Copper: The Arbiter Of Inflation Truth (Felder) How A Flood Swamped Wood’s ARK (Validea) Taking Their Chances (Humble Dollar) Web3 (Scott Galloway) Beware the Winning Streak (Safal) How to Buy … Read More
Cytokine Storms
In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discuss Cytokine Storms. Here’s an excerpt from the episode: Jake: Yeah. Let’s do cytokine storms first. Last time we talked about E. O. Wilson and this idea of group selection over just purely gene selection. It … Read More
This Acquirers Multiple Stock Appearing In Simons, Cohen, 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
Albert Bridge Capital: The Market Will Always Be A Weighing Machine
In the latest commentary by Albert Bridge Capital, Drew Dickson explains why the market will always be a weighing machine. Here’s an excerpt from the commentary: Dear Stock Picker, I know, these are weird and trying times. It all makes you wonder what the point of stock-picking is. What is … Read More
Seth Klarman: Speculative Holdings Are Like Roach Motels
This article on Markets Insider has 11 of the best quotes from Seth Klarman’s latest Annual Letter. Here are three of our favourites which illustrate the sentiment of current investor psychology: 1. “We see today’s market as characterized by stretched valuations, deep complacency, and a host of looming risks.” 2. … Read More