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 Reads 6/7/2019
Here’s a list of this week’s best investing reads: Tobias Carlisle – The Risks And Rewards Of Deep Value Investing (Bloomberg) The Danger of Comparing Yourself to Others (Farnam Street) Tesla’s Travails: Curfew for a Corporate Teenager? (Aswath Damodaran) Financial Advice For My New Daughter (Collaborative Fund) The Coddling of the American Investor … Read More
Carl Icahn – Top 10 Holdings Q1 2019
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Seth Klarman: “Value Investing Is At Its Core The Marriage Of A Contrarian Streak And A Calculator.”
We’ve just been re-reading Michael Mauboussin’s book – The Success Equation. There’s a great passage in the book with discusses investor psychology, and some of the findings of Daniel Kahneman and Amos Tversky. There’s also an great explanation of one of Seth Klarman’s most famous investing quotes: “Value investing is … Read More
Investors Must Continue To Challenge Their Long Held Beliefs
https://www.youtube.com/watch?v=PUGIb1SfpvU?start=2518 During his recent interview with Tobias chats with Jim O’Shaughnessy, best selling author and Co-Chief Investment Officer at O’Shaughnessy Asset Management (OSAM), discusses why investors must continue to challenge their long held beliefs. Here’s an except from the interview: Jim O’Shaughnessy: This is a classic example of a practice … Read More
Mohnish Pabrai – Investors Can Take Advantage When Markets Get Confused Between Risk And Uncertainty
At his recent presentation at Trinity College in Dublin, Mohnish Pabrai explained how investors can take advantage when markets get confused between risk and uncertainty, saying: If you have a business which exhibits very high uncertainty then that business generally will get very extreme kind of valuations in a auction … Read More
Investors Should Beware When They Start To See ‘Information Cascades’
https://www.youtube.com/watch?v=PUGIb1SfpvU?start=2056 During his recent interview with Tobias chats with Jim O’Shaughnessy, best selling author and Co-Chief Investment Officer at O’Shaughnessy Asset Management (OSAM), discusses why investors should beware when they start to see ‘information cascades’. Here’s an except from the interview: Jim O’Shaughnessy: The stock market is a complex adaptive … Read More
(Ep.13) The Acquirers Podcast: Jim O’Shaughnessy – What Works, Legendary Entrepreneur, Investor And Author
Summary In this episode of The Acquirer’s Podcast Tobias chats with Jim O’Shaughnessy. Jim is Chairman and Co-Chief Investment Officer at O’Shaughnessy Asset Management (OSAM). He is also the author of the investment classic, What Works On Wall Street. During the interview Jim provides some great insights into: – Why … Read More
Value portfolios formed on price-to-earnings are underperforming glamour for the longest time *EVER* going back to 1951 — 9 years
The chart below shows the relative performance (blue, left-hand side) and underperformance from the nearest peak (orange, right-hand side) of equal-weighted decile portfolios formed on price-to-earnings from 1951 to April 2019. The blue line (left-hand side) is the cumulative value premium-the outperformance of value over glamour. The blue line is … Read More
As Long As Human Beings Price Securities, There Will Always Be Investment Opportunities
https://www.youtube.com/watch?v=PUGIb1SfpvU?start=3796 During his recent interview with Tobias chats with Jim O’Shaughnessy, best selling author and Co-Chief Investment Officer at O’Shaughnessy Asset Management (OSAM), discusses why there will always be investment opportunities as long as human beings price securities. Here’s an except from the interview: Jim O’Shaughnessy: People used to say … Read More
This Week’s Best Investing Reads 5/31/2019
Here’s a list of this week’s best investing reads: Five Lessons from History (Collaborative Fund) What I Learned from Doing a Financial Plan (The Irrelevant Investor) Jeff Bezos: Big Things Start Small (Farnam Street) The David Bowie Hedge When Buying a Home (A Wealth of Common Sense) Danger Ahead (Humble Dollar) This is Why … Read More
TAM Stock Screener – Stocks Appearing in Greenblatt, Rogers, Gabelli 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
The SMID-Cap Universe Provides Greater Opportunities Over Large And Small Caps – Here’s Why
https://www.youtube.com/watch?v=Mx47JRpbWaw?start=2508 During his recent interview with Tobias, Ben Claremon, the Principal and Portfolio Manager at Cove Street Capital outlines the reasons why he believes the SMID-Cap Universe provides greater opportunities over Large and Small Caps. Here’s an excerpt from the interview: Tobias Carlisle: You and I were at a conference … Read More
Michael Burry – Top 10 Holdings Q12019
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 Should Spend More Time Focusing On The Culture Of The Business Behind The Stock
https://www.youtube.com/watch?v=Mx47JRpbWaw?start=1724 During his recent interview with Tobias, Ben Claremon, the Principal and Portfolio Manager at Cove Street Capital provided some great insights into how investors can better understand the culture of the business behind the stock. Here’s an excerpt from the interview: Tobias Carlisle: It sounds like a great process, … Read More
Walter Schloss: How To Invest Stress-Free For 40 Years
Here’s a great extract from a lecture given by Walter Schloss on May 16th, 1996 at the Behavioral Economics Forum at the Harvard Faculty Club in Cambridge, Mass. Schloss provides some great insights into how to invest stress-free for 40 years: How to Invest Stree-Free for 40 Years A friend … Read More
Successful Investors Need A Devil’s Advocate To Try To Kill Potential Investment Ideas
https://www.youtube.com/watch?v=Mx47JRpbWaw?start=1116 During his recent interview with Tobias, Ben Claremon, a Principal and Portfolio Manager at Cove Street Capital provided some great insights into why successful investors need a devil’s advocate to try to kill potential investment ideas. Here’s an excerpt from the interview: Ben Claremon: And the proxy statement is … Read More
(Ep.12) The Acquirers Podcast: Ben Claremon – SMID Value, Opportunities In Small And SMID Cap Value
Summary In this episode of The Acquirer’s Podcast Tobias chats with Ben Claremon, a Principal and Portfolio Manager at Cove Street Capital. Ben’s focus is on the SMID-Cap Universe, where he believes the best opportunities exist for investors. Ben provides some great insights into: – How To Identify Buffett Style … Read More
TAM Stock Screener – Stocks Appearing in Marks, Greenblatt, 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
KEYNOTE: Deep Value and the Acquirer’s Multiple with Tobias Carlisle | SNN Network
Here’s a recent keynote presentation by Tobias Carlisle at the Planet MicroCap Showcase 2019 in Las Vegas, NV. The topic for his speech: “Deep Value and the Acquirers Multiple”. (Source: YouTube)