In their latest episode of the VALUE: After Hours Podcast, Tobias Carlisle, Jake Taylor, and Phil Pearlman discuss: Fitness Alpha: Unlocking Outperformance Through Health and Well-Being Stupid Simplicity: Four Pillars of Health and Wellness Overachiever’s Dilemma: Rest, Injury, and Staying Consistent How Bacterial Mutation Informs Investment Strategy What Simone Biles … Read More
American Express Co (AXP) DCF Valuation: Is The Stock Undervalued?
As part of a new series, each week we typically conduct a DCF on one of the companies in our screens. This week we thought we’d take a look at one of the stocks that is not currently in our screens, American Express Co (AXP). Profile American Express is a … Read More
This Week’s Best Value Investing News, Podcasts, Interviews (11/22/2024)
This week’s best investing news: Oaktree’s Howard Marks on China Opportunities, Trump’s Cabinet, Market Sentiment (Bloomberg) Mohnish Pabrai’s Guest Lecture at UNO’s Maverick Investment Club (MP) Cliff Asness on the “Less Efficient Market Hypothesis” (Excess Returns) Shorting Credit (Verdad) Interview with Oakmark’s Bill Nygren (Inside Active) The Value Perspective with … Read More
Dillard’s Inc (DDS): Is It a Buy? – Acquirer’s Multiple Stock Screener Analysis
As part of our ongoing series here at The Acquirer’s Multiple, each week we focus on one of the stocks from our Stock Screeners, and why it’s a ‘buy’ based on key fundamentals. One of the cheapest stocks in our Stock Screeners is: Dillard’s Inc (DDS) Dillard’s Inc is an American fashion apparel, cosmetics, … Read More
Bruce Berkowitz, Sears, and the Perils of Concentrated Investing
During their recent episode, Taylor, Carlisle, and Tim Travis discussed Bruce Berkowitz, Sears, and the Perils of Concentrated Investing. Here’s an excerpt from the episode: Tobias: I vastly prefer spreading the bets a little bit more, just because there’s so much idiosyncratic risk in every– I’ve worked in a public … Read More
Cliff Asness: The Next 20 Years Will Be A Golden Era for Rational Investors
In his latest interview with Excess Returns, Cliff Asness discusses the challenges and opportunities of rational investing, particularly during periods of extreme market inefficiency. He argues that historical valuation changes are poor guides for the future, as they reflect shifts rather than fundamentals. While rational strategies often pay off, they … Read More
Howard Marks: 2 Reasons Exiting the Market Will Cost You Big
During his recent interview with Bloomberg, Howard Marks discusses the importance of distinguishing between high and overpriced markets, suggesting that valuations should guide whether investors adopt a defensive or aggressive approach. He advises against making drastic decisions, like exiting the market entirely, as it often leads to missed opportunities. Marks … Read More
10 Worst Performing Large-Caps Last 12 Months
Over the past twelve months ten Large-Cap stocks have underperformed all others. Here’s this week’s top 10 worst performing Large-Caps in the last twelve months: Name 1 Year Price Returns (Daily) Walgreens Boots Alliance (WBA) -55.68% Moderna (MRNA) -48.55% Estee Lauder Companies (EL) -46.41% Humana (HUM) -44.93% Celanese (CE) -42.70% … Read More
Which Superinvestors Hold Acquirer’s Multiple Stocks?
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, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and … Read More
Great Opportunities In REITs
During their recent episode, Taylor, Carlisle, and Tim Travis discussed Great Opportunities In REITs. Here’s an excerpt from the episode: Tobias: In other areas, you were talking about REITs a little bit before we came on. Do you want to give us your thoughts on REITs? Tim: Yeah. So, REITs … Read More
Joel Greenblatt: Common Sense is Essential for Successful Investing
In his book – You Can Be A Stock Market Genius, Joel Greenblatt explains that becoming a skilled investor requires time, practice, and good judgment. He advises beginners to start by investing a small portion of their assets in special corporate situations and increase their commitment as they gain confidence … Read More
Warren Buffett: Only 5-10% of Companies Fall Within My Circle of Competence
In this interview with Yahoo Finance, Warren Buffett reflects on his admiration for Jeff Bezos, praising his visionary execution in transforming Amazon from a bookseller to a massive enterprise. Buffett acknowledges that certain innovations, like Microsoft or Netscape, fall outside his “circle of competence,” so he doesn’t regret missing them. … Read More
The One Stock That Superinvestors Are Dumping: Is It Time to Sell?
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, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray … Read More
Why Investment-Grade Bonds Offer an Attractive Hedge
During their recent episode, Taylor, Carlisle, and Tim Travis discussed Why Investment-Grade Bonds Offer an Attractive Hedge. Here’s an excerpt from the episode: Tim: It’s hard. I don’t know. Whenever I buy puts as a hedge or something like that, which isn’t very likely or maybe I’ll have a client … Read More
Warren Buffett: Investors Must Consider Stocks as Businesses, Not Speculations
In this interview with CNBC, Warren Buffett emphasizes the long-term perspective in investing, comparing stock investments to purchasing businesses, farms, or real estate. Using an example from 1932, he notes that General Motors had 19,000 dealers but sold only a fraction of a car per dealer during tough times, which … Read More
Howard Marks: Misconceptions of Risk in Investing
During his recent interview with Barron’s, Howard Marks highlights a key misconception about risk: many attempt to quantify it using formulas, typically relying on volatility or standard deviation as proxies. However, he argues that these metrics fail to reflect the true nature of risk, which is the possibility of an … Read More
The Undervalued Stock That Superinvestors Are Loading Up On
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, Prem Watsa, Jeremy Grantham, Seth Klarman, … Read More
Why Buffett Slashed His Apple Stake
During their recent episode, Taylor, Carlisle, and Tim Travis discussed Why Buffett Slashed His Apple Stake. Here’s an excerpt from the episode: Tobias: Tim, one of the things we were talking about– Well, Buffett has been selling Wells Fargo for quite a while. So, Wells Fargo has idiosyncratic problems that … Read More
Mohnish Pabrai: Munger – The Abominable No Man: Avoiding Bad Investments
In this interview with UNO’s Maverick Investment Club, Mohnish Pabrai highlights the importance of Charlie Munger’s role as Warren Buffett’s trusted critic at Berkshire Hathaway. Known as “The Abominable No Man,” Munger often rejected Buffett’s investment ideas, providing a vital filter against poor decisions. Pabrai cites Berkshire’s problematic $20 billion … Read More
Bill Ackman: There’s One Strategy for Sustained High Investment Returns
In this interview with Reuters, Bill Ackman explains why he prefers concentrated investing, emphasizing the value of owning 10 to 11 exceptional investments instead of diversifying across many ideas. He believes great opportunities are rare, and focusing on fewer investments enhances potential returns. However, this approach often leads to more … Read More