Here’s an excerpt from an article at The Globe and Mail which discusses five reasons why value investing may never regain its appeal: There has been a lot of talk about the death of value investing. The strategy, embraced by Benjamin Graham and Warren Buffett and many followers, has beaten … Read More
Nassim Nicholas Taleb: If An Investor Has A Risk Of Terminal Blowup, The “Potential Returns” Of His Strategy Are Totally Inconsequential
Just been re-reading Nassim Taleb’s book – Antifragile: Things that Gain from Disorder, which includes a great passage on risk and a real-life example of how it applies in investing. Here’s an excerpt from the book: Under path dependence, one can no longer separate growth in the economy from risks of … Read More
Avoid Selling Too Early – Investors Need To Allow Their Stock Positions To Exceed Their Expectations
https://www.youtube.com/watch?v=fHdKAzxnRnI?start=1780 During his recent interview with Tobias, Ian Cassel, Founder of MicroCapClub and Intelligent Fanatics Capital Management, discusses avoid selling stocks too early by letting the stocks that you own exceed your expectations, saying: Tobias Carlisle: It’s very clever. On the Monster Beverage Hansen’s, do you think, is it luck … Read More
Warren Buffett: There’s No Easier Game Than Stocks
Here’s a great excerpt from an interview that Warren Buffett did in India some years ago. Buffett is discussing how there is no easier game than stocks, but investors turn that fundamental advantage into a disadvantage saying: If you look at the typical stock on the New York Stock Exchange, … Read More
Investors Can Generate Outsized Returns Using The Three Buckets of Micro-Cap Investing
https://www.youtube.com/watch?v=fHdKAzxnRnI?start=690 During his recent interview with Tobias, Ian Cassel, Founder of MicroCapClub and Intelligent Fanatics Capital Management, discusses his three buckets of successful micro-cap investing saying: Ian Cassel: I wouldn’t characterize myself as a value investor. I would say it’s more of a situational type investor, this has evolved over … Read More
(Ep.25) The Acquirers Podcast: Ian Cassel – Intelligent Fanatic, A Masterclass In Microcap Investing
Summary In this episode of The Acquirer’s Podcast Tobias chats with Ian Cassel. Ian is the Founder of MicroCapClub and Intelligent Fanatics Capital Management. He specialises in micro-cap investing, and believes that the key to outsized returns is finding great companies early, because all great companies started as small companies. … Read More
TAM Stock Screener – Stocks Appearing in Greenblatt, Pabrai, Spier 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 Reads 8/23/2019
Here’s a list of this week’s best investing reads: Why Complexity Sells (Collaborative Fund) Learning from other Industries (csinvesting) The (Not So) Fantastic Four (The Felder Report) Michael Burry Urges GameStop to Buy Back $238 Million of Stock with Cash on Hand (Scion Capital) Are Value Stocks Good Value? (Morningstar) Tesla Has Failed Massively … Read More
Seth Klarman – Top 10 Holdings Q22019
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Value Investor Insight: Alexander Roepers Interview
Here’s an excerpt from an interview by Value Investor Insight with Alexander Roepers. Making highly concentrated bets, as Alexander Roepers can attest, requires conviction in one’s research, flexibility of mind and, at times, a cast-iron stomach: Excerpt: While he spends considerable time and effort on “constructive activism” with his portfolio … Read More
The Secret To An Outstanding Growth Strategy Is To Prune Those Growth Ideas That Are Not Working Out
https://www.youtube.com/watch?v=dmEMWylsmb8?start=2668 During his recent interview with Tobias, Daniel Grioli, the Managing Partner at Guisgard Capital, discusses the secret to developing an outstanding growth strategy that will outperform. Here’s an excerpt from the interview: Daniel Grioli: And then there’s obviously the risk that you have with growth stocks where some disappoint, you … Read More
Why Value Investing Works – In A Single Chart
Here’s an excerpt from an article by fund manager Nick Kirrage at Schroders titled – Why Value Investing Works – In A Single Chart. Kirrage illustrates why value investing has worked in the past and will continue to work in the future, saying: New visitors to The Value Perspective might, … Read More
Stanley Druckenmiller: Never, Ever Invest In The Present
Here’s a great except from Stanley Druckenmiller’s 2015 Speech at the Lost Tree Club. Druckenmiller provides some great insights into why investors should never, ever invest in the present, saying: Now, I told you it was kind of dumb luck how I fell into this. Ken Langone knows my first … Read More
Concentrated Investing – The Successful One Stock Portfolio
https://www.youtube.com/watch?v=dmEMWylsmb8?start=2084 During his recent interview with Tobias, Daniel Grioli, the Managing Partner at Guisgard Capital, demonstrates how very concentrated portfolios can be successful, using a real-life example. Here’s an excerpt from the interview: Tobias Carlisle: So, when you’re looking for the value managers, you’re looking for that more traditional Buffet style … Read More
Charlie Munger: Great Investors Remain Rational, Objective, and Dispassionate
Here’s some great Charlie Munger quotes from the book Charlie Munger: The Complete Investor, by Tren Griffin. Munger is highlighting the importance of investors remaining rational, objective, and dispassionate: Rationality is not just something you do so that you can make more money; it’s a binding principle. Rationality is a … Read More
Investors Could Be Missing Out On Some Big Gains By Selling A Stock That Reaches Its ‘Target Price’
https://www.youtube.com/watch?v=dmEMWylsmb8?start=2987 During his recent interview with Tobias, Daniel Grioli, the Managing Partner at Guisgard Capital, provides a real-life example of how investors can miss out on big gains by selling a stock that reaches its ‘target price’. Here’s an excerpt from the interview: Daniel Grioli: Definitely. So, I’ll add a couple … Read More
(Ep.24) The Acquirers Podcast: Daniel Grioli – Market Fox, Liquid Alternatives, Investment Strategies
Summary In this episode of The Acquirer’s Podcast Tobias chats with Daniel Grioli, the Managing Partner at Guisgard Capital. Daniel constructs his portfolios using the best ideas of a group of carefully selected fund managers. He distills the portfolios of up to twenty mutual funds, investment advisors and hedge funds investing … Read More
TAM Stock Screener – Stocks Appearing in Greenblatt, Dalio, Simons 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 Reads 8/16/2019
Here’s a list of this week’s best investing reads: Investing in a Negative Interest Rate World (A Wealth of Common Sense) Is the Yield Curve Coming to Kill You? (The Reformed Broker) The Laws of Investing (Collaborative Fund) Bonds Are Frickin’ Expensive (Cliff Asness) Country Risk: A Mid-year 2019 Update (Aswath Damodaran) Stocks Plunge As … Read More
Seth Klarman Protege David Abrams – Top 10 Holdings Q22019
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