In response to Dan Loeb’s letter to Disney, Chris Bloomstran has written his own letter to Disney CEO Robert A. Chapek, encouraging him to “not act by reflexively endorsing the “advice” of well-known activist hedge fund managers.” Instead he’s suggesting a myriad of alternatives regarding its capital allocation. Here’s an … Read More
Stock In Focus – TAM Stock Screener – Propetro Holding Corp (NYSE: PUMP)
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 Propetro Holding Corp (NYSE: PUMP). ProPetro Holding Corp is a … Read More
Inflation And Value
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Inflation And Value. Here’s an excerpt from the episode: Tobias: Yeah, I’ll take a shot at it. So, we’ve had this massive crash. We’ve been printing pretty hard, globally, the central banks, Bank of Japan, … Read More
This Week’s Best Investing Articles, Research, Podcasts 10/16/2020
Here’s a list of this week’s best investing reads: Elections and Markets (Jamie Catherwood) This Time Was Different (Irrelevant Investor) Activist Investor Dan Loeb on Why Disney Needs to Double Its Streaming Spending (Variety) COVID & Global Valuations (Verdad) Tobias Carlisle – How To Play On Market’s Reversion To The Mean (Economic Times) … Read More
Peter Lynch: In Investing Your Stomach Is More Important Than Your Brain
In his interview with PBS, Peter Lynch provided a number of great insights into his successful investing approach including why your stomach is more important than your brain in investing. Here’s an excerpt from the interview: The market itself is very volatile. We’ve had 95 years completed this century. We’re … Read More
Eric Cinnamond: Value Investors Spinning Their Wheels While Suckerfish Get A Free Ride
In their latest Q3 2020 Market Commentary Eric Cinnamond and Jayme Wiggins at Palm Valley Capital provide an interesting analogy of what it’s like to be a value investor while passive and momentum investors get a free ride for little effort. Likening the two groups to remoras, or suckerfish (passive … Read More
Acquirer’s Multiple Stock $HWM Appearing In Romick, Gabelli, 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
VALUE: After Hours (S02 E40): Inflation And Value, Puggy Pearson’s Portfolio, Aerospace And $SPR
In this episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle chat about: Inflation And Value Puggy Pearson’s Portfolio The Definition Of Value Absolute Versus Relative Returns Aerospace And $SPR Dividends Versus Buy-Backs Wonderful Companies At Wonderful Prices Big Opportunities In Small Value How Inflation Swindles the Equity … Read More
Should Michael Burry Have Been Fired?
During his recent interview with Tobias, David Horn, Adjunct Professor of Applied Value Investing at Columbia Business School, discussed Should Michael Burry Have Been Fired?. Here’s an excerpt from the interview: David: But it doesn’t mean it’s not frustrating. It also comes back to time horizon, it comes back to … Read More
Howard Marks: Comparing Today’s Tech Goliaths With The Nifty Fifty
In his latest memo titled – Coming Into Focus, Howard Marks included a great piece on comparing today’s tech goliaths with the Nifty Fifty. Marks makes the point that while the FAAMG’s may be larger, faster growing, and have greater growth potential than the Nifty Fifty, no one’s valuing them … 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
Allergic To Hype
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Allergic To Hype. Here’s an excerpt from the episode: Bill: There’s something that you said reminded me and I had been noodling on this lately. I have a visceral aversion to things that people love. … Read More
Greenwald – “We Didn’t Get Growth Right!”
During his recent interview with Tobias, David Horn, Adjunct Professor of Applied Value Investing at Columbia Business School, discussed Greenwald – “We Didn’t Get Growth Right!”. Here’s an excerpt from the interview: Tobias: If it’s the Greenwald class, you’re teaching to the Greenwald from Buffett and Graham– [crosstalk] David: Yeah, … Read More
Joel Greenblatt: Investors Should Focus On Causation Not Correlation
In his recent interview with Barry Ritholtz on The Masters In Business Podcast, Joel Greenblatt discussed his not-for-profit charter school, alternative credentials, too big to fail banks, and why investors should focus on causation not correlation. Here’s an excerpt from the interview: RITHOLTZ: Let’s pivot to your bread and butter … Read More
Lindsell Train: The Investor’s Dilemma – How Long To Hang On To Winners
In their latest Q2 2020 market commentary Lindsell Train, the company co-founded by Nick Train and Michael Lindsell, provided some great insights into the age old dilemma that faces investors – how long to hang on to winning stocks. Here’s an excerpt from the commentary: To summarise then, here’s a … Read More
This One Stock Is Popular With Investing Gurus
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
The Big Con
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed The Big Con. Here’s an excerpt from the episode: Tobias: I might punt a little bit on Edward. We can talk about Edward in a moment. But your pitch reminded me about a book that … Read More
Endogenous Versus Exogenous Rates Of Return
During his recent interview with Tobias, David Horn, Adjunct Professor of Applied Value Investing at Columbia Business School, discussed Endogenous Versus Exogenous Rates Of Return. Here’s an excerpt from the interview: David: Let’s get in a little bit. And this came into– we’ve tweaked a little bit about this, and … Read More
Adam Smith: Somebody ‘Must’ Know Something We Don’t
In Adam Smith’s book The Money Game, there’s a great piece in which he discusses the ‘logic’ of the market. Here’s an excerpt from the book: Logic, to an outsider, would say that you have a company selling at 10 and you go and do a lot of research on … Read More
Eugene Fama: There’s No Such Thing As Behavioral Finance
In his recent interview with The Market NZZ Eugene Fama discussed interest rates, inflation, oil prices, and why he’s not a believer in behavioral finance. Here’s an excerpt from the interview: Against that backdrop, what do you make of the growing discipleship of behavioral finance which focuses on the influence … Read More