Back on 5/17/1999 Michael Burry, a self confessed value investor, wrote a post on an investing message-board called – The Silicon Investor. His post detailed his valuation on AAPL stock, which at that time traded at around $1.59. Currently the stock trades at around $218. Here’s an excerpt from that post: … Read More
Howard Marks: One Thing That Makes Great Investors Great
Here’s a great interview with Howard Marks from his own series called – The Marks Investor Series. In this Q&A session Marks discusses what makes great investors great. Here’s an excerpt from that interview: I think we can lump the explanation under the heading of emotion. You mentioned Seth Klarman … Read More
Ken Fisher: Time In The Market Beats Timing The Market – Almost Always
Ken Fisher, founder of Fisher Investments, wrote a great article in USA Today which illustrates the importance of spending time in the market as opposed to trying to time the market, in order to achieve outstanding results. Here’s an excerpt from that article: Riding all of the stock market’s ups … Read More
Mohnish Pabrai: 20 Books That Every Investor Should Read
We recently started a series called – Superinvestors: Books That Every Investor Should Read. So far we’ve provided book recommendations from: Charles Munger: 32 Books That Every Investor Should Read Seth Klarman: 32 Books That Every Investor Should Read Warren Buffett: 35 Books That Every Investor Should Read Bill Ackman: … Read More
This Week’s Best Investing Reads 09/14/2018
Here’s a list of this week’s best investing reads: Ser Jamie (The Reformed Broker) Trillion Dollar Toppers: Market Triggers, Value Drivers and Pricing Catalysts! (Aswath Damodaran) Is Software Eating Value Investing (A Wealth of Common Sense) Long-Term News (Collaborative Fund) Fraud, Lies, Social Proof, and the Will to Believe: Theranos (csinvesting) Comprehensive Review of EV/EBITDA (Michael Mauboussin) … Read More
TAM Stock Screener – Stocks Appearing in Dalio, Greenblatt, 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
Prem Watsa: Top 10 Holdings, New Buys, Sold Out Positions
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
Francis Chou: Value Investors Must Remain Confident When Your Strategy Does Not Appear To Be Working
One of the value investors we like to follow closely here at The Acquirer’s Multiple is Francis Chou, founder of Chou Associates Fund. Chou recently released his 2018 semi-annual report in which he urged value investors to stick with their value investing principles in the current market environment saying: “The … Read More
WSJ: How Did Warren Buffett Respond To Lehman and AIG When They Asked For Help In 2008
Here’s a great video from the WSJ in which Warren Buffett discusses the 2008 financial crisis, how he was approached by both Lehman Brothers and AIG when they asked for help, and why he turned them down. Buffett recalls being contacted by AIG saying: On Friday, preceding the weekend, I got … Read More
Bill Nygren: Intangibles Are The Key To Business Valuation Today
Bill Nygren, Portfolio Manager at The Oakmark Funds, has just released a video which highlights the importance of considering intangibles when valuing businesses today saying: “The linkage between book value and business value has been broken because so many important assets today are intangibles and don’t even show up on … Read More
Ray Dalio – FREE Book – A Template For Understanding Big Debt Crises
Ray Dalio has just released a new book titled – A Template For Understanding Big Debt Crises, which he’s giving away for FREE. Here’s what he had to say about the book on his Linkedin page: Ten years ago this month, the world’s financial system nearly ground to a halt. … Read More
Charlie Munger: Look For Businesses Using The Cancer Surgery Formula
In a 1995 edition of The Outstanding Investor Digest, Charlie Munger recounted the types of business models that he and Warren Buffett like to invest in. Most noteworthy is what he calls the ‘cancer surgery formula’ model saying: “I’ve had many friends in the sick-business-fix-up-game over a long lifetime. And … Read More
Joel Greenblatt: 17 Books That Every Investor Should Read
We recently started a series called – Superinvestors: Books That Every Investor Should Read. So far we’ve provided book recommendations from: Charles Munger: 32 Books That Every Investor Should Read Seth Klarman: 32 Books That Every Investor Should Read Warren Buffett: 35 Books That Every Investor Should Read Bill Ackman: … Read More
TAM Stock Screener – Stocks Appearing in Tepper, Greenblatt, Griffin Portfolios
Some 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
This Week’s Best Investing Reads 09/07/2018
Here’s a list of this week’s best investing reads: The Decision Matrix: How to Prioritize What Matters (Farnam Street) I Quit My Dream Job Because There’s Sadly No Such Thing (Financial Samurai) The Unreachables (The Reformed Broker) What Does it Mean to be a Financial Expert? (The Irrelevant Investor) Lessons Learned Since the Financial Crisis (Validea) Could Index Funds Become Too … Read More
George Soros: Top 10 Holdings, New Buys, Sold Out Positions
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
Bruce Flatt (Brookfield): “Being Contrarian And Not Being Where The Crowd Is Going – Is Hard To Do – But The Most Lucrative If Accomplished”
Here’s a great presentation from Bruce Flatt, CEO of Brookfield Asset Management, speaking to the folks at Google about – Durable Principles for Real Asset Investing. Flatt makes some great points on the importance of going against the crowd and maintaining a contrarian approach to investing saying: “We’ve always tried to adhere … Read More
David Einhorn: Greenlight Capital’s Big August Loss Compounds 2018 Woes
Here’s an article at Institutional Investor which discusses David Einhorn’s ongoing underperformance. According to this article at Reuters – Billionaire investor David Einhorn’s Greenlight Capital hedge fund, whose bets on car companies General Motors and Tesla both moved against him in August, lost 7.6 percent this month, leaving the fund … Read More
Howard Marks: At Oaktree We Say, “Well Bought Is Half Sold.”
One of our favorite books from our list of 50 Of The Best Investing Books Of All Time is – The Most Important Thing: Uncommon Sense for the Thoughtful Investor, by Howard Marks. There’s one passage in particular in which Marks highlights the importance of buying at the right price without consideration … Read More
Chuck Royce: Deep Value Investing Using Enterprise Value To EBIT As A Valuation Metric
One of the investors we like to follow closely here at The Acquirer’s Multiple is Chuck Royce and his team at The Royce Funds. The Royce Funds recently released their commentary (see video below) on the success that they’re having with their deep value investing strategy using Enterprise Value to EBIT … Read More