During their recent interview on The Acquirers Podcast with Tobias, Jeffrey C. Hooke, finance professor and author of The Myth of Private Equity discussed The 3 Pillars Of Private Equity That Hurt Investors. Here’s an excerpt from the interview: Jeffrey: Exactly. I don’t think I could summarize it any better. High … Read More
Warren Buffett: All Earnings Are Not Created Equal
In his 1984 Shareholder Letter, Warren Buffett discussed his dividend policy and why all earnings are not created equal. Here’s an excerpt from the letter: Dividend policy is often reported to shareholders, but seldom explained. A company will say something like, “Our goal is to pay out 40% to 50% … Read More
Rich Pzena: Why Returns Deteriorate As You Grow
In his recent interview on the ValueWalk Podcast, Rich Pzena discusses why returns deteriorate as you grow. Here’s an excerpt from the interview: This is one of those businesses where the bigger that you get the harder it is to win. It’s almost the opposite of every other business which … Read More
Rob Arnott: Value Stocks Only Asset Class Likely To Generate 5%–10% Real Return Over Coming Decade
In his latest article titled – Did I Miss The Value Turn?, Rob Arnott and associates discuss whether the recent value rebound, cresting in May, is over or is the start of a bigger rebound. Here’s an excerpt from the article: All indications are that 10 years from now Covid-19 … 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
Value Enticing Relative To Growth
In their recent episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle discussed Value Enticing Relative To Growth. Here’s an excerpt from the episode: Tobias: So, I retweeted this this morning. It’s just showing the spread of growth over value, and it runs back … Read More
IRR – The Faulty Metric of Private Equity
During their recent interview on The Acquirers Podcast with Tobias, Jeffrey C. Hooke, finance professor and author of The Myth of Private Equity discussed IRR – The Faulty Metric of Private Equity. Here’s an excerpt from the interview: Tobias: The part of the problem I understand is the calculation of the … Read More
Terry Smith Top 10 Holdings (Q2 2021)
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
(Ep.130) The Acquirers Podcast: Jeffrey C Hooke – LBO MYTHS: Private Equity Myths
In this episode of The Acquirers Podcast, Tobias chats with Jeffrey C. Hooke, finance professor and author of The Myth of Private Equity. During the interview Jeffrey provided some great insights into: IRR – The Faulty Metric of Private Equity The 3 Pillars Of Private Equity That Hurt Investors The … Read More
Jim Simons: The Golden Rule Of Investing
In this presentation at the AMS Einstein Public Lecture, Jim Simons discusses his golden rule for investing. Here’s an excerpt from the presentation: And then the only rule is we never override the computer. No-one ever comes in any day and says the computer wants to do this that’s crazy … Read More
Rob Vinall: The Most Important Factor In Investing
In this interview with Good Investing, Rob Vinall discusses the most important factor in investing. Here’s an excerpt from the interview: But what I realized over time was that although I do my best to be a diligent analyst, a lot of the stuff you don’t really see from the … Read More
Warren Buffett: Putting 75% Of Your Net Worth Into A ‘Lead-Pipe Cinch’
During this Berkshire Annual Meeting, Warren Buffett discussed putting seventy five percent of his net worth into one position when you’re working with smaller sums. Here’s an excerpt from the meeting: There have been times… well initially I had 70, several times I had 75% of my net worth in … Read More
Stock In Focus – TAM Stock Screener – Boise Cascade Co (NYSE: BCC)
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 Boise Cascade Co (NYSE: BCC). Boise Cascade Co is a … Read More
Ken Fisher: Investors Overlooking The Most Important Metric – GOPM
In his latest article on Linkedin titled – When Excess Fat Is GOPM Great for You, Ken Fisher discussed why Gross Operating Profit Margins (GOPM) are so much more important than net profit margins. Here’s an excerpt from the article: Earnings, earnings, earnings! Often, that is all pundits dissect. How … Read More
How Fishing Makes You A Better Investor
In their recent episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle discussed How Fishing Makes You A Better Investor. Here’s an excerpt from the episode: Jake: All right. Fish is on the menu today, not veggies. Tobias: Fish is good for you too. Jake: … Read More
This Week’s Best Value Investing News, Research, Podcasts 9/24/2021
This week’s best investing news: How Bill Ackman Finds His Targets (Validea) Panic Series (Pt. III) – 1825 (Jamie Catherwood) A Macro View of Factors (Verdad) Mistakes were made (I did a dumb thing) (Neckar) How Warren Buffett Rewards Berkshire’s Managers For Using Less Capital (#21) (Watchlist) Let’s Keep Humans At The Heart Of Hiring Practices … Read More
This Acquirers Multiple Stock Is Appearing In Cohen, Ainslie, 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
Weitz: How To Identify Quality Companies
In their latest Weitz Quarterly Connection Webcast, the team discussed how they use their Weitz Quality Score Matrix to identify quality companies. Here’s an excerpt from the webcast: So, a question may be how do we identify quality companies? And, you know, we go about our process using both quantitative … Read More
Chuck Akre: Timeless Lessons From Warren Buffett
In his 1988 Shareholder Letter, Chuck Akre discussed the lessons he learned from Warren Buffett. Here’s an excerpt from the letter: Over the years, I have been most significantly influenced by the writings of Warren Buffett. (Fortunately, I have been a shareholder of Berkshire Hathaway since 1977). Warren was a … Read More
VALUE: After Hours (S03 E35): Value Growth Spread Widest Ever, Fishing With Munger In China, Think Twice
In this episode of the VALUE: After Hours Podcast, Jake Taylor, Bill Brewster, and Tobias Carlisle chat about: Investing Lessons From Fishing Value Growth Spread Widest Ever Lessons From Thinking Twice Bay of Pigs & The Dangers Of Groupthink Take A Swing At China Stocks Choose One Growth Stock One … Read More