In this interview with Goldman Sachs, Howard Marks discusses the discrepancy between private and public asset valuations. He emphasizes the importance of making intelligent investment choices based on relative value. He also references Warren Buffett’s analogy about buying more when prices are low, likening market declines to a sale, and … Read More
Mohnish Pabrai: Why Long-Only Portfolios Outperform Short Selling Strategies
In this article titled – Steer Clear of the Short Side, Mohnish Pabrai argues against short positions as a hedge, suggesting a long-only unleveraged portfolio as a better alternative. With over 100,000 publicly traded stocks, it’s possible to hedge against various macroeconomic factors without using derivatives. Pabrai highlights the risks … Read More
Cliff Asness – 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 (S06 E27): Quality Compounding’s Pieter Slegers on The Art of Quality Investing
In their latest episode of the VALUE: After Hours Podcast, Tobias Carlisle, Jake Taylor, and Pieter Slegers discuss: How to Use Reverse DCF and EPS Growth Models in Quality Investing Adapting Your Investment Strategy: Evolving with Market Changes Cybernetics as a Mental Model: Understanding Systems and Control Mechanisms The Power … Read More
McDonald’s Corp (MCD) 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, McDonald’s Corp (MCD). Profile McDonald’s is the largest restaurant … Read More
This Week’s Best Value Investing News, Podcasts, Interviews (08/02/2024)
This week’s best investing news: Ray Dalio & Deepak Chopra on Life and Death (RD) Mohnish Pabrai’s Session with CFA Society, United Kingdom (MP) Warren Buffett’s Berkshire Hathaway sells Bank of America for a ninth straight day (CNBC) GMO – Concentrate!: Is it like 2000 again? (GMO) Terry Smith – Our … Read More
HCA Healthcare (HCA): Is It a Buy? – Acquirer’s Multiple Stock Screener Analysis
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 a ‘buy’ based on key fundamentals. One of the cheapest stocks in our Stock Screeners is: HCA Healthcare Inc (HCA) HCA Healthcare is a Nashville-based healthcare provider … Read More
Unlocking Investment Intuition: Lessons from Chicken Sexing
During their recent episode, Taylor, Carlisle, and Adam Mead discussed Unlocking Investment Intuition: Lessons from Chicken Sexing, here’s an excerpt from the episode: Tobias: JT has got closer to the router, so he’s going to have another go. JT. Adam: I’m dying to know. [Tobias laughs] We want to know … Read More
Warren Buffett: The One Reason to Retain Earnings and Not Distribute to Shareholders
In his 1984 Berkshire Hathaway Annual Letter, Warren Buffett argues that companies should only retain unrestricted earnings if there is a reasonable prospect that retaining the earnings will create at least an equivalent amount of market value for shareholders. He acknowledges that managers often prefer to retain earnings for reasons … Read More
Mohnish Pabrai: Avoid Investment Pitfalls: Create An Aviation Safety Style Checklist
In this session with the CFA in the U.K, Mohnish Pabrai discusses the importance of learning from investment mistakes, both personal and those of renowned investors like Warren Buffett and Charlie Munger. He highlights the inevitability of errors in predicting the future and the value of studying past mistakes to … Read More
Large-Cap Stocks In Trouble: Here Are The 10 Worst Performers Over The Past 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) -56.44% Albemarle (ALB) -55.01% Paycom Soft (PAYC) -54.98% DexCom (DXCM) -47.65% Estee Lauder Companies (EL) … 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, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, … Read More
Regular Portfolio Cleaning Enhances Investment Focus
During their recent episode, Taylor, Carlisle, and Adam Mead discussed Regular Portfolio Cleaning Enhances Investment Focus, here’s an excerpt from the episode: Jake: I was just going to say, I know an investor who, if a position– He has a position, minimum, so if something falls below certain threshold, either … Read More
Warren Buffett: Prosperity Makes It Hard for Companies to Stay Disciplined
In the book – The Snowball, Warren Buffett discussed Coca-Cola’s costly “Project Infinity,” criticized by Herbert Allen for excessive spending with unclear benefits. Buffett, a board member, expressed frustration, noting that IT departments often pursue unnecessary projects. He believed the project wouldn’t boost Coca-Cola sales or reduce jobs, highlighting a … Read More
Stanley Druckenmiller: Take Big Swings Especially When You’re Up
In the book – The New Market Wizards there’s an interview with Stanley Druckenmiller in which he discusses George Soros’s investment philosophy, which emphasizes preserving capital and taking big swings for exceptional long-term returns. Unlike many managers who play it safe after achieving moderate gains, Soros believes in pushing for … Read More
The One Stock That 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, Jim Simons, Prem Watsa, Jeremy Grantham, Seth … Read More
Watchlist Investing And The Neighbor’s House Analogy
During their recent episode, Taylor, Carlisle, and Adam Mead discussed Watchlist Investing And The Neighbor’s House Analogy, here’s an excerpt from the episode: Tobias: [crosstalk] When you’re constructing your portfolios, Adam, do you take that idea of taking the big bets? Do you like that idea of narrowing down to … Read More
Howard Marks: The Best Investment Opportunities Arise from Unpopularity
In this Addendum titled – Random Thoughts on the Identification of Investment Opportunities, Howard Marks explains why psychology is more crucial in investing than accounting or economics. He explains that future price changes depend on whether an investment becomes more popular or less popular over time. Investing is compared to … Read More
Ian Cassel: Finding Companies That Can Double Your Money In 3 Years
During his recent interview on The Investor’s Podcast, Ian Cassel discusses his investment approach, emphasizing the importance of assessing potential downsides before considering upsides. He looks for opportunities where he believes he can double his money in three years, often focusing on undervalued companies with strong growth potential. Cassel highlights … Read More
The Undervalued Stock That 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, Jim Simons, Prem Watsa, Jeremy Grantham, … Read More