Charles Munger: “If You Won’t Attack A Problem While It’s Solvable And Wait Until It’s Unfixable, You Can Argue That You’re So Damn Foolish That You Deserve The Problem”

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While not specifically an investing book, The Art of the Good Life: Clear Thinking for Business and a Better Life, by Rolf Dobelli provides some great lessons for investors. There’s one passage in particular titled – Reality Doesn’t Care About Your Feelings; or, Why Every False Step Improves Your Life – which basically says … Read More

This Week’s Best Investing Reads 08/31/2018

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Here is a list of this week’s best investing reads: Why Doesn’t The Stock Market Care About the News? (A Wealth of Common Sense) The Disproportional Power of Anecdotes (Farnam Street) Show me the incentives and I will show you the outcome (The Reformed Broker) The Forgotten Bear Market (The Irrelevant Investor) For Whom The Economy Grows (NY … Read More

Mario Gabelli: There Are No Such Things As “Can’t Miss” Stocks. Habits evolve, Technologies Change, And Companies Mature. It’s A Cycle As Old As Capitalism Itself

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Mario Gabelli recently released his Q2 2018 shareholder letter. Gabelli reported for the quarter ended June 30, 2018, the net asset value (“NAV”) per Class A Share of The Gabelli Value 25 Fund increased 3.2% compared with increases of 3.4% and 1.3% for the Standard & Poor’s (“S&P”) 500 Index and the … Read More

Howard Marks: The Refusal To Catch A Falling Knife Is A Rationalization For Inaction. It’s Our Job To Catch Falling Knives. That’s How You Get Bargains!

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Here’s a great interview (below) with Howard Marks at the Wharton School of the University of Pennsylvania (2018). Marks was asked his thoughts on distressed debt investing, margin of safety, and catching falling knives when evaluating prospective investments. Here’s his response: Marks: You know there’s only one intelligent form of … Read More

This Week’s Best Investing Reads 08/24/2018

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Here is a list of this week’s best investing reads: $350 Discount for Acquirer’s Multiple Subscribers – Value Invest New York – Featuring Joel Greenblatt, Howard Marks, Robert Hagstrom, Dave Iben and others Sometimes (The Reformed Broker) The Half-Life of Investment Strategies (A Wealth of Common Sense) People vs. Companies (Collaborative Fund) Case Study on Managing … Read More

Steven Cohen: Investors Take Note! Model-Driven Companies Will Accelerate Away From The Pack Now That Software Has Become Ubiquitous

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One of the investors we follow closely here at The Acquirer’s Multiple is Steven Cohen, founder and chairman at Point 72 Asset Management. According to their last reported 13F filing for Q2 2018, Point72 has $25.056 Billion in managed 13F securities. Cohen recently wrote a great article together with Matthew Granade, … Read More

Warren Buffett: In The World Of Mergers And Acquisitions, A Limping Horse Could Be Peddled As Secretariat

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While all of the Berkshire Hathaway shareholder letters are a must read for investors, the 1995 letter is notable for two reasons. The first is Buffett’s explanation of Berkshire’s ‘Woody Allen’ approach to investing. The second is Buffett’s commentary on acquisitions saying: “In any case, why potential buyers even look … Read More

This Week’s Best Investing Reads 08/17/2018

Johnny HopkinsValue Investing NewsLeave a Comment

Here is a list of this week’s best investing reads: The Scapegoat (The Irrelevant Investor) If You’re a Seller, Sell Now. If You’re a Buyer, Wait. (The Reformed Broker) 8 Questions I’ve Been Pondering (A Wealth of Common Sense) Joel Greenblatt Mixes Active and Passive In the Same Fund (Barron’s) You Aren’t Going To Be Right … Read More