In his latest article titled – The Suckers At The Investment Table, Larry Swedroe discusses new research that shows most professional investors can’t beat the market. Here’s an excerpt from the article: New research confirms that institutional investors, such as mutual funds, outperform the market before fees, and they do … Read More
Smead Capital: The McNealy Problem
In his latest paper titled – The McNealy Problem, Cole Smead at Smead Capital tests Scott McNealy’s thesis regarding the euphoria surrounding Sun Microsystems, using a modern day company DocuSign. Here’s an excerpt from the paper: We are using the corporate history of Microsoft and Cognizant Technologies to understand what … 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
The Impact Of China’s Widening Crackdown
In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed The Impact Of China’s Widening Crackdown. Here’s an excerpt from the episode: Tobias: I think the argument we had– not the argument, but JT and I discussing it last week, it’s undervalued. The only question … Read More
The New Value Factor
During his recent interview on The Acquirers Podcast with Tobias, David Trainer, CEO of New Constructs discussed The New Value Factor. Here’s an excerpt from the interview: Tobias: There’s a nice paper that’s just come out about New Constructs and its core earnings methodology. The line that really stood out … Read More
Rob Arnott: You Need Courage To Invest In Value Stocks
In his recent interview on WealthTrack, Rob Arnott discussed the courage needed to invest in value stocks. Here’s an excerpt from the interview: Arnott: With value investing you’re always buying companies that are out-of-favor and unloved, so that’s one element that requires courage. Chasing the most popular and beloved companies … Read More
Against The Gods: The Theory Police & When It Really Counts
In Peter Bernstein’s classic investing book – Against The Gods, he discusses how the abundance of market irrationality actually makes the market appear rational. Here’s an excerpt from the book: The evidence presented in this chapter gives only a hint of the diligence of the Theory Police in apprehending people … 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
Companies That Tell The Truth Outperform
During their recent interview on The Acquirers Podcast with Tobias, David Trainer, CEO of New Constructs discussed Companies That Tell The Truth Outperform. Here’s an excerpt from the interview: Tobias: So, David, you do the core earnings calculation, but then how are you deriving a trading signal from that? What is … Read More
Memetics – How Peter Thiel Turned $500K Into $1 Billion+
In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Memetics – How Peter Thiel Turned $500K Into $1 Billion+. Here’s an excerpt from the episode: Jake: Anyway, let’s see if we can keep going on this and then pull in memetics, which is a … Read More
Howard Marks: There Are No Sure Things In Investing
In his recent interview on The Investors Podcast, Howard Marks discussed comparisons between the Nifty 50 and the FAANG stocks of today, and why there are no sure things in investing. Here’s an excerpt from the interview: In every market cycle we get to the point where people say you … Read More
Bill Ackman 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
Aswath Damodaran: Value Investors Should Consider Young Growth Money Losing Companies
In his recent interview on Business Today, Aswath Damodaran discussed why value investors should consider young growth money losing companies at the right price. Here’s an excerpt from the interview: Damodaran: The alternative, and you’re not going to like what I say, requires that you do the hard work of … Read More
(Ep.128) The Acquirers Podcast: David Trainer – Core Earnings, New Data On Excess Alpha From Earnings Distortions
In this episode of The Acquirers Podcast, Tobias chats with David Trainer, CEO of New Constructs. During the interview David provided some great insights into: Truth Stocks Earnings Distortion Delivers Alpha Using AI To Decipher Footnotes What Are Persistent Earnings? Wall Street’s High-Priests Incentivized To Complicate Why Do Companies Understate Profits? … Read More
Aswath Damodaran: When Someone Tells You The Market’s Expensive, Check Out Their Age
In this interview with Nirmal Bang, Aswath Damodaran recommends that when someone tells you the market’s expensive, you should check out their age. Here’s an excerpt from the interview: Damodaran: The one thing though I’d caution you is when people tell you that the market is expensive check out their … Read More
Cliff Asness: Shorting Your Way to a Greener Tomorrow
In his latest insight titled – Shorting Your Way To A Greener Tomorrow, Cliff Asness examines the use of shorting in an ESG context. Here’s an excerpt from the insight: My colleagues (and even I) have written extensively on responsible investment, as in the use of ESG factors in investment … Read More
Stock In Focus – TAM Stock Screener – SciPlay Corp (NASDAQ: SCPL)
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 SciPlay Corp (NASDAQ: SCPL). SciPlay Corp develops, markets and operates … Read More
This Week’s Best Value Investing News, Research, Podcasts 9/10/2021
This week’s best investing news: The Panic Series (Pt. I) – 1792 (Jamie Catherwood) The Butterfly Effect (Verdad) Betting on change (Neckar) Legendary Investor Warren Buffett Prepares Berkshire For New Economy (Validea) Who’s Playing Championship Tetris? Gabe Plotkin, Stevie Cohen, or Ken Griffin? (ARC) Shorting Your Way to a Greener Tomorrow (Cliff Asness) Wallets Are Over. … Read More
NFTs: The Future of Art Or A Waste Of Money
In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed NFTs: The Future of Art Or A Waste Of Money. Here’s an excerpt from the episode: Bill: Oh, NFTs, I think it’s fairly easy to connect. I think within investing, meme stocks in general are very– … Read More
Warren Buffett: Beware Of Investment Activity That Produces Applause
In his 2008 shareholder letter, Warren Buffett discussed the U.S Treasury Bond bubble of 2008 and why investors should beware of investment activity that produces applause. Here’s an excerpt from the letter: The investment world has gone from underpricing risk to overpricing it. This change has not been minor; the … Read More