In his latest interview on The Rules of Investing Podcast, Jeremy Grantham discusses the 1970s high inflation period and the link between value and rates. Here’s an excerpt from the interview: Grantham: There should be. Arithmetically or mathematically. The higher the rate, the more the dividend counts. And the lower … Read More
Marrying Value With Options
During his recent interview on The Acquirers Podcast with Tobias, Tim Travis, founder and deep value investor at T&T Capital Management discussed Marrying Value With Options. Here’s an excerpt from the interview: Tobias: Can you describe your strategy? Tim: Sure. Definitely, we start first and foremost with identifying deeply undervalued … Read More
David Poppe: How To Earn Good Returns When You Get Market Sentiment Wrong
In his recent presentation at the Ben Graham VIII Annual Conference, David Poppe explains how you can still generate good returns over a longer time-frame, even if you get market sentiment wrong. Here’s an excerpt from the presentation: On the other hand a person with a five-year time horizon has … 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
(Ep.121) The Acquirers Podcast: Tim Travis – Options & Financials
In this episode of The Acquirers Podcast, Tobias chats with Tim Travis, founder and deep value investor at T&T Capital Management. During the interview Tim provided some great insights into: Big Disconnect Between Value & Growth Biggest Positions In Your Best Ideas FANMAG Valuations Marrying Value With Options Choose Managements … Read More
Dan Loeb: Top 10 Holdings, Top Buys & Sells
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
Guy Spier: Munger Sees What Others Cannot
In his latest interview on the What Got You There Podcast, Guy Spier explains why he would like to sit down with Charlie Munger. Here’s an excerpt from the interview Spier: I would love to sit down with Charlie Munger. I think that he’s got an extraordinary mind. At the … Read More
Julian Robertson: To Hit .400 Go Where The Pitching Is The Worst
Some years ago, Julian Robertson did a great interview with the Graham & Doddsville Newsletter in which he discussed a number of topics including his investment philosophy, his success at Tiger, seeding the ‘Tiger Cubs’, and how to find undervalued opportunities saying: “I would say that hedge fund investing is, … Read More
Michael Burry: Create Your Wish-List And Wait For Them To Hit Your Buy Price
In his 2001 shareholder letter, Michael Burry discusses his strategy of creating a wish-list of companies and then waiting for them to hit his ‘buy’ price. Here’s an excerpt from the letter: This is not to say that I am not a fan of larger, well-run businesses with fantastic economic … Read More
Charlie Munger: When You Make A Mistake, Act Quickly To Get Out
In their recent interview with CNBC, Charles Munger and Warren Buffett discussed what to do when you know that you’ve made a mistake. Here’s an excerpt from the interview: BUFFETT: Now, if the department store had succeeded, we’d have a nice little business then. Send us a nice little check, … 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
Asymmetric Returns
In their recent episode of the VALUE: After Hours Podcast, Taylor, Mitchell, Brewster, and Carlisle discussed Asymmetric Returns. Here’s an excerpt from the episode: Mike: My problem with all these is, I’ve had a couple of bites at that apple, and I do the stupidest thing, and I’m so consistent … Read More
This Week’s Best Value Investing News, Research, Podcasts 7/16/2021
This week’s best investing news: Cash and Equivalents (Verdad) The Underrated Role of Behavior in Investing (Validea) What is Robinhood? (Epsilon Theory) Dealing With Mistakes (Neckar) In Investing, Don’t Sweat the Small Stuff (NY Times) Ken Fisher Discusses Meme Stocks (video) (Fisher) Cathie Wood Takes A Non-consensus View (WTI) Charlie Munger: 11 Intelligent Things To Do … Read More
Joel Greenblatt On Meeting Warren Buffett
In this interview on The Knowledge Project Podcast, Joel Greenblatt discusses what is was like to meet his idol Warren Buffett. Here’s an excerpt from the interview: I don’t know if he was the wealthiest guy in the world at that time, or top three, or whatever, he might have … Read More
Calculating Return Rates
In their recent episode of the VALUE: After Hours Podcast, Taylor, Mitchell, Brewster, and Carlisle discussed Calculating Return Rates. Here’s an excerpt from the episode: Tobias: How do you set your personal return requirements? What are you basing that on? Mike: For me? Tobias: Yeah, or anybody but you raised … Read More
Buy Public Companies Using A VC Mindset
During his recent interview on The Acquirers Podcast with Tobias, David Barr, President & CEO of Pender Capital Management discussed Buying Public Companies Using A VC Mindset. Here’s an excerpt from the interview: Tobias: When you’re looking at something like this, how do you think about valuation? Do you have your … Read More
This Acquirers Multiple Stock Is Appearing In Watsa, Dalio, Miller, 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
Longleaf Partners: Value’s Recent Pullback Is A Temporary Blip
In their latest Q2 2021 Market Commentary, Longleaf Partners believe that the recent pullback in value’s performance over the last month is a temporary blip. Here’s an excerpt from the commentary: Our outlook on the stock market and our portfolio is not dramatically different than it was the last time … Read More
Aswath Damodaran: Greater Disclosure Is Hurting Investors
In his latest piece titled – Disclosure Dilemma: When more (data) leads to less (information)!, Aswath Damodaran explains why greater disclosure is actually hurting investors rather than helping them saying: As companies disclose more and more, investors should be becoming more informed and valuing/pricing companies should be getting easier, right? In … Read More
Howard Marks: Coping With A Falling Price
In his book The Most Important Thing, Howard Marks discusses what happens in an investor’s psychology after buying a stock and it starts to drop in price. Here’s an excerpt from the book: Let’s say you figure out that something’s worth 80 and have a chance to buy it for … Read More