Ray Dalio has just written a great piece on his Linkedin page titled – The World Has Gone Mad And The System Is Broken. In the article he outlines the reasons why he believes the world is approaching a big paradigm shift. It’s a must read for all investors. Here’s … Read More
Is Value Investing A Bet Against Tech?
https://www.youtube.com/watch?v=xj1V8AFXIA0?start=1138 During his recent interview with Tobias, Jack Forehand, Partner at Validea Capital Management, discusses whether value investing is a bet against tech. Here’s an excerpt from the interview: Tobias Carlisle: And the final argument that you made is that value is a bet against tech, which that certainly seems … Read More
David Einhorn: The Bear Case For Netflix
In his latest Q3 2019 Shareholder Letter, David Einhorn, discusses how he successfully shorted Netflix, and his ongoing bear case for the company. It provides a great insight into how top investors analyse these companies. Here’s an excerpt from the letter: Our Netflix (NFLX) short was another material contributor as … Read More
Michael Mauboussin: 3 Lessons Investors Can Learn From The Quest To Win The Triple Crown
In 2015, Michael Mauboussin wrote a great paper titled – Triple Crown Teachings, Three Takeaways from the Quest for the Elusive Feat. In the paper he discusses how the quest to win the prestigious Triple Crown provides three great lessons for investors. Here are some excerpts from the paper: “When … Read More
Does Big Data Lead To More Value Traps?
https://www.youtube.com/watch?v=xj1V8AFXIA0?start=1015 During his recent interview with Tobias, Jack Forehand, Partner at Validea Capital Management, discusses whether big data leads to more value traps. Here’s an excerpt from the interview: Tobias Carlisle: The next point you make, which I think is a an interesting one, big data leads to more value … Read More
Philip Carret: Why Investors Should Avoid Stock Tips
In his great investing book, The Art of Speculation, Philip Carret provided some great insights into why investors should avoid stock tips, saying: If a trader could select the stock which is to be the star performer for the next week or two, take his profit on that and move … Read More
How To Recreate A Buffett Style Portfolio
https://www.youtube.com/watch?v=xj1V8AFXIA0?start=63 During his recent interview with Tobias, Jack Forehand, Partner at Validea Capital Management, discusses how to recreate a Buffett style portfolio. Here’s an excerpt from the interview: Tobias Carlisle: Thanks so much for joining me here today. You’re a partner at Validea. Can you just tell me a little … Read More
(Ep.35) The Acquirers Podcast: Jack Forehand – Practical Quant, Applied Value, Momentum, And Guru Replication
Summary In this episode of The Acquirer’s Podcast Tobias chats with Jack Forehand. He is a Partner at Validea Capital Management and responsible for the firm’s overall operations and portfolio management. During the interview Jack provided some great insights into: How To Recreate A Buffett Style Portfolio Is The Under-Performance Of … Read More
What Do The Top Value Funds Have in Common?
Over the past two days we posted Part 1, and Part 2 of Morningstar’s three part series on Value Investing. Following is the final part in the series which examines the common themes linking the top value funds during the past several years. Here’s an excerpt from that article: Which … Read More
TAM Stock Screener – Stocks Appearing in Greenblatt, Griffin, Fisher 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, … Read More
This Week’s Best Investing Articles, Research, Podcasts 11/1/2019
Here’s a list of this week’s best investing reads: How to Use Occam’s Razor Without Getting Cut (Farnam Street) The Spectrum of Wealth (Collaborative Fund) Everything You Need to Know About Recessions (A Wealth of Common Sense) This Is What Monetization Of The Debt Looks Like (The Felder Report) The Most Bullish Signal in … Read More
Value Managers On Why Value Investing Has Underperformed
Yesterday we posted Part 1 in a three part series by Morningstar titled – Morningstar: Value Investing: A Deep Dive Into Performance. Today we look at Part 2 in which Morningstar analysts provide their opinions on why value investing has underperformed for most of the last two decades, based on what … Read More
Bruce Berkowitz: Q2 2019 Top 10 Holdings
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
Investors Can Find Great Opportunities In Stocks With A Masking Effect
https://www.youtube.com/watch?v=N8poJe2osJg?start=869 During his recent interview with Tobias, Connor Haley, Founder of Alta Fox Capital Management, discusses how investors can find great opportunities in stocks that have a masking effect. Here’s an excerpt from the interview: Tobias Carlisle: And one of the things in your presentation you say you’re looking for … Read More
Morningstar: Value Investing: A Deep Dive Into Performance
Here’s a great article at Morningstar that does a deep dive on the underperformance of value investing over the past twenty years. The article is the first in a three part series. The second part will include Morningstar’s fund analysts providing color on what they have picked up in their … Read More
James Chanos: How To Spot A Fraud
James Chanos is well known for his specialization in short-selling. One of the best known examples was his prediction on the fall of Enron Corp, before it filled for bankruptcy in 2001. In order to understand how he made his prediction here is an excerpt from a prepared statement that … Read More
The 3 Investment Edges Every Investor Should Be Seeking
https://www.youtube.com/watch?v=N8poJe2osJg?start=1626 During his recent interview with Tobias, Connor Haley, Founder of Alta Fox Capital Management, discusses the three investment edges that every investor should be seeking. Here’s an excerpt from the interview: Tobias Carlisle: Let’s talk about edges. This is an interesting part of your presentation. You said there are … Read More
Mohnish Pabrai: How To Beat Wall Street With Third Grade Math
In Monish Pabrai’s book, The Dhando Investor, he provides a real-life illustration of how, with third grade math, you can beat Wall Street if you’re prepared to do a little research. Here’s an excerpt from the book: A good case study of a low-risk, high-uncertainty business is the situation with … Read More
How To Find Investing Gems That Don’t Screen As Cheap
https://www.youtube.com/watch?v=N8poJe2osJg?start=141 During his recent interview with Tobias, Connor Haley, Founder of Alta Fox Capital Management, discusses how investors can find investing gems that don’t screen as cheap. Here’s an excerpt from the interview: Tobias Carlisle: Tell us a little bit about your fund. How’s it structured? And what are you … Read More
(Ep.34) The Acquirers Podcast: Connor Haley – Micro Master, Long/Short Micro Cap Compounders, And Chess
Summary In this episode of The Acquirer’s Podcast Tobias chats with Connor Haley. Connor is the Founder of Alta Fox Capital Management. He’s a Harvard graduate, Magna cum laude. He’s the number one ranked investor in the MicroCapClub, and he’s got a some fascinating approaches to investing. During the interview … Read More