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
Aswath Damodaran: Developing The ‘Right’ Investing Philosophy For You
In his book – Investment Philosophies: Successful Strategies and the Investors Who Made Them Work, Aswath Damodaran discusses how to develop the right investing philosophy for you. Here’s an excerpt from the book: Once you understand the basics of investing, form your views on human foibles and behavior, and review the … Read More
Charles Munger: Pay More Attention To Your Failures
In the book – Seeking Wisdom: From Darwin to Munger, Charles Munger discusses the point that we should pay more attention to our failures. Here’s an excerpt from the book: It is assumed by many business school graduates, and by almost all consultants, that a corporation can easily improve its outcome … Read More
Warren Buffett: Growth Can Have Both A Positive And Negative Impact For The Investor
In his 1992 Berkshire Hathaway Letter, Warren Buffett explained that growth can have both a positive and negative impact for the investor. Here’s an excerpt from the letter: Similarly, business growth, per se, tells us little about value. It’s true that growth often has a positive impact on value, sometimes … Read More
Bessembinder’s Lessons For Finding Outliers
In this recent episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle discuss Bessembinder’s Lessons For Finding Outliers. Here’s an excerpt from the episode: Bill: Hey, real quick. This is from the lessons from Bessembinder that Baillie Gifford had. So, the four big ones that … 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
Burton Malkiel: Risk Tolerance – What’s Your Sleeping Point?
In his book – A Random Walk Down Wall Street, Burton Malkiel discusses the investor’s risk tolerance using what calls the ‘sleeping point’. Here’s an excerpt from the book: Determining clear goals is a part of the investment process that too many people skip, with disastrous results. You must decide … Read More
James Montier: Growth Stocks Are The Attractive Defendants Of The Finance World
In his book – Value Investing: Tools and Techniques for Intelligent Investment, James Montier provides a great illustration of the human bias towards growth/glamour stocks. Here’s an excerpt from the book: Interestingly a recent psychology study may well relate to these findings. Taylor and Butcher (2007) gave 96 students identical accounts … Read More
The Cynefin Portfolio Framework
In this recent episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle discuss The Cynefin Portfolio Framework. Here’s an excerpt from the episode: Jake: Sure. Do some veggies. So, I recently came across this decision-making framework, that’s called Cynefin and its spelled C-Y-N-E-F-I-N. So, nothing … 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
Rob Arnott: Now Is One Of The Best Times Historically To Buy Value
In his recent keynote at The Morningstar Investment Conference, Rob Arnott explained why now is one of the best times historically to buy value stocks. Here’s an excerpt from the keynote: Rob Arnott: We always hear the observation that it’s different this time. It’s always true. Things are always different this … Read More
Bill Nygren: How To Pick The Winners In A Disruptive World
In his recent conversation at The Morningstar Investment Conference, Bill Nygren discussed a number of topics including how to pick the winners in a disruptive world. Here’s an excerpt from the conversation: Nygren: I’ve been doing this long enough that I remember when newspapers were viewed as about the safest business … Read More
Tom Gayner: If Your Stock Is A Rolling Train, Don’t Get Off!
In his recent interview with Barry Ritholz, Tom Gayner discussed the idea of not selling your winners. Here’s an excerpt from the interview: RITHOLTZ: So there are two data points I’m kind of fascinated about. One is, in your public investments, your 10 largest holdings, they’re almost half your portfolio. … Read More
Value Stocks Better Than The Market
In this recent episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle discuss Value Stocks Better Than The Market. Here’s an excerpt from the episode: Tobias: So, Rich Pzena, for folks who don’t know, he was one of the coauthors of one of Greenblatt’s early … Read More
Michael Mauboussin: How To Calculate The Present Value Of An Investment
In his book Expectations Investing, Michael Mauboussin provides a simple explanation of how to calculate the present value of an investment. Here’s an excerpt from the book: We return to first principles to see why the stock market bases its expectations on long-term cash flows. A dollar today is worth … Read More
Warren Buffett: Why We Continue To Hold Businesses That Are Unprofitable
During the 2014 Berkshire Hathaway Annual Meeting, Warren Buffett explained why he continues to hold businesses that are unprofitable. Here’s an excerpt from the meeting: Q. Berkshire is known to buy companies for many years. But that wasn’t the same earlier in your career. What do you do to gain … Read More
Li Lu 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 (S03 E42): Pzena Value And Quality; $TSLA, And NFT Bubble; And Cynefin Framework
In this episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle chat about: Pzena Value And Quality Cynefin: Four Frameworks Of Portfolio Management Bessembinder’s Lessons For Finding Outliers Value Investors Should Look In Niche/Private Corners The Roaming Bubble $TSLA Up 56% In A Month What’s … Read More
Stock In Focus – TAM Stock Screener – Perdoceo Education Corp (NASDAQ: PRDO)
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 Perdoceo Education Corp (NASDAQ: PRDO). Perdoceo Education Corp is an … Read More
This Acquirers Multiple Stock Appearing In Marks, Simons, Grantham 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