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
David Einhorn: Losing Money When You’re Holding High-Performing Winners
In his latest Shareholder Letter, David Einhorn discusses the frustration associated with owning two of the companies in his portfolio, GRBK and BHF, that have performed above expectations, but their share price it falling. Here’s an excerpt from the letter (H/T ValueWalk): What we (and we assume you) find frustrating … Read More
Howard Marks: This Latest Cycle Was Like A Meteor Hitting Earth From Outer Space
In his latest interview at The Milken Institute Global Conference, Howard Marks described this latest cycle like a meteor hitting earth from outer space. Here’s an excerpt from the interview: Marks: We’re in an unusual circumstance. First of all the cycle we’ve gone through in the last 18 months of … Read More
Daniel Kahneman: How Investors Can Make Significantly Better ‘Noise-Free’ Decisions
In his latest book – Noise: A Flaw in Human Judgment, Daniel Kahneman provides a simple method that will help investors make significantly better ‘noise-free’ decisions. Here’s an excerpt from the book: There is a limit to the accuracy of our predictions, and this limit is often quite low. Nevertheless, we … Read More
Even The Best Strategy Will Go Backwards Sometimes
In their recent episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle discussed Even The Best Strategy Will Go Backwards Sometimes. Here’s an excerpt from the episode: Bill: Dude, just real quick, because you turn yourself quant. So, I’m curious of your thoughts on this. … 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
Pzena: The Opportunity In Value Stocks Is Compelling
In their latest Q3 2021 Market Commentary, Pzena discuss the compelling opportunity in value stocks. Here’s an excerpt from the commentary: We have argued for some time that the opportunity in value stocks is compelling: valuations are cheap, operating metrics are strong, and they offer high single-digit to low double-digit … Read More
Bill Miller: Forget The Headlines And Focus On Stocks
In his latest and final market commentary, Bill Miller discusses why investors should forget headlines and focus on stocks. Here’s an excerpt from the commentary: When I am asked what I worry about in the market, the answer usually is “nothing”, because everyone else in the market seems to spend … Read More
Peter Lynch: Invest In Small-Cap Stocks, If You Have The Stomach
In his book – Learn to Earn, Peter Lynch discusses why you should invest in small-cap stocks instead of large-cap. Here’s an excerpt from the book: Over time, it’s been more profitable to invest, in small companies than in large companies. The successful small companies of today will become the … Read More
Late Innings Complacency
In their recent episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle discussed Late Innings Complacency. Here’s an excerpt from the episode: Jake: Sure. Like I said at the intro, sometimes, there’s a lot of sometimes people complaining that I don’t share personal things, whatever. … Read More
Daniel Kahneman: The Illusion Of Skill In Investing
In Daniel Kahneman’s book – Thinking Fast and Slow, he provides some research that exposes the illusion of skill in investing. Here’s an excerpt from the book: Some years ago I had an unusual opportunity to examine the illusion of financial skill up close. I had been invited to speak … 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
Jim Chanos: China’s “Leveraged Prosperity” Model is Doomed
In this interview with the Institute For New Economic Thinking, Jim Chanos discusses all things China, Evergrande, and China’s doomed leverage prosperity model. Here’s an excerpt from the interview: Chanos: What distinguishes China and what makes it so unique from my perspective, putting on the financial historian’s hat, is that … Read More
Aswath Damodaran: Humility Is The Single Most Important Characteristic You Need To Be A Successful Investor
In his latest webinar titled – The Illusion of Smart Money, Aswath Damodaran says that humility is the single most important characteristic you need to be a successful investor. Here’s an excerpt from the webinar: Humble vs Arrogant: I think that investors are better grouped into humble and arrogant, with: … Read More
Stanley Druckenmiller: There’s Less Than A Handful Of People That Can ‘Pull The Trigger’ When It’s All On The Line
In Michael Kaufman’s book – Soros: The Life and Times of a Messianic Billionaire, there’s a great passage on Stanley Druckenmiller in which he discusses that there is less than a handful of people that can pull the trigger when its all on the line. Here’s an excerpt from the … Read More
Gamification Of Digital Advertising
In their recent episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle discussed the Gamification Of Digital Advertising. As businesses continue to navigate the ever-changing landscape of online promotion, staying ahead requires innovative approaches. This is where Marketing automation steps in, seamlessly blending technology and … Read More
Howard Marks: The Impact Of Investor Psychology On Markets
In Howard Marks’ Book – Mastering The Market Cycle, he provides some great statistical data that shows just how much investor psychology impacts markets. Here’s an excerpt from the book: Putting it all together, fluctuations in attitudes and behavior combine to make the stock market the ultimate pendulum. In my … Read More
Rich Pzena: Earnings Growth Rates Higher For Value Stocks Than Growth Stocks Next Two Years
In his recent interview on ValueWalk, Rich Pzena discussed why earnings growth rates are higher for value stocks than growth stocks for the next two years. Here’s an excerpt from the interview (H/T Forbes): “A typical value cycle that’s tied to an economic cycle lasts for quite some time,” Pzena … Read More
James Montier: The Dangers Of Diversification
In his book – Value Investing: Tools and Techniques for Intelligent Investment, James Montier discusses the dangers of diversification. Here’s an excerpt from the book: If religion has been the cause of most wars, then ‘diversification’ lies close to the heart of many financial disasters. All too often, too narrow … Read More
Dan Loeb 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