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
TAM Stock Screener – Stocks Appearing in Marks, Greenblatt, Grantham 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 10/25/2019
Here’s a list of this week’s best investing reads: Five Questions: Tackling Some of the Toughest Questions in Investing with Michael Mauboussin (Validea) A Eulogy for the 60/40 Portfolio (A Wealth of Common Sense) Let Your Cash Flourish (bps and pieces) Global Stocks Starting to Inflect Higher (Reformed Broker) How did Mohnish Pabrai inspire … Read More
Bloomberg: A Real Shift May Be Underway Towards Value Investing
Here’s an article from Bloomberg titled – For a Strategy Left for Dead, Value Stocks Sure Do Return a Lot, which discusses the possibility that a real shift may be underway towards value investing: Ask any Wall Street wag and he’ll tell you: the time-honored strategy known as value investing is … Read More
Michael Price: 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 Should Consider Companies That Utilize The Freemium Effect
https://www.youtube.com/watch?v=IMXXZTqIp8I?start=1305 During his recent interview with Tobias, Joseph Boskovich, Co-Founder and Partner at Old West Investment Management, discusses the significant revenues that mobile gaming companies generate utilizing the freemium effect. Here’s an excerpt from the interview: Tobias Carlisle: Right. So I think the one spin that we didn’t discuss was … Read More
David Einhorn: Our Research Process Reverses The Analytical Framework That Most Traditional Value Investors Use
We’ve just been re-reading David Einhorn’s book – Fooling Some of the People All of the Time, A Long Short Story, in which he discusses how Greenlight’s research process reverses the analytical framework that most traditional value investors use. Einhorn also provides insights into his portfolio construction. Here’s some excerpts … Read More
One Of The Best Investors You’ve Never Heard Of – Howard Jonas
https://www.youtube.com/watch?v=IMXXZTqIp8I?start=379 During his recent interview with Tobias, Joseph Boskovich, Co-Founder and Partner at Old West Investment Management, discusses one of the best investors you’ve never heard of – Howard Jonas. Here’s an excerpt from the interview: Tobias Carlisle: I’ve got you. Right. So the next biggest position is RFL, Rafael. Talk … Read More
Peter Lynch: Lessons From An Investing Legend
Here’s a recent interview that Peter Lynch did at Fidelity in which he discusses a number of insightful investing lessons: When Peter Lynch began work at Fidelity 50 years ago, you could buy lunch for less than a dollar, you had to wait for the mail to read an annual … Read More
Investors Should Focus On Companies That Are Owner Managed – Here’s Why
https://www.youtube.com/watch?v=IMXXZTqIp8I?start=58 During his recent interview with Tobias, Joseph Boskovich, Co-Founder and Partner at Old West Investment Management, discusses why investors should focus on companies that are owner-managed. Here’s an excerpt from the interview: Tobias Carlisle: My absolute pleasure. Tell me a little bit about Old West. How did you get … Read More
(Ep.33) The Acquirers Podcast: Joseph Boskovich – Owner Managers, Content, Uranium, Spectrum, Proxies & 13Ds
Summary In this episode of The Acquirer’s Podcast Tobias chats with Joseph Boskovich. Joseph is the Co-Founder and Partner at Old West Investment Management. Old West manages long only and long/short investment strategies based upon the companies that they uncover through a simple yet sound investment process. The firm is … Read More
TAM Stock Screener – Stocks Appearing in Greenblatt, Tepper, Griffin 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