We’ve just been reading the latest Q318 market commentary by Murray Stahl which discusses the possible benefits of concentrating ones portfolio to achieve outperformance. His article illustrates how this concentrated approach led to some serious outperformance by three of the greatest investors of all time, Warren Buffett, Charles Munger, and … Read More
Graham & Doddsville Fall Newsletter 2018
The Graham & Doddsville Fall Newsletter has recently been released featuring interviews with the team at Tweedy Browne Company, Scott Miller at Greenhaven Road Capital, and JP Morgan’s Steve Tusa. Of particular interest to value investors is the interview with the folks at Tweedy Browne who discuss how Ben Graham’s … Read More
Charlie Munger On Telsa and Elon Musk
We’ve just been watching a great recent interview with Charlie Munger in which he was asked his thoughts on Telsa and Elon Musk. Here’s his response: Munger: Well it’s already created more significance than anybody would have predicted and its founder is bold and brilliant and swings for the fences. … Read More
Howard Marks: Markets Have Flipped From Being All Good to All Bad
Here’s a great video with Howard Marks at Bloomberg. During the interview Marks says: “I think, as it often does, the market has flipped from being all good to all bad. Prior to October the 4th it was ignoring some possible problem sites and now it’s obsessing about them. That’s … Read More
Jamie Dimon: 11 Books That Every Investor Should Read
We recently started a series called – Superinvestors: Books That Every Investor Should Read. So far we’ve provided the 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 … Read More
The World According to Boyar Podcast with Jonathan Boyar of the Boyar Value Group
I recently sat down with Jonathan Boyar of the Boyar Value Group to record The World According to Boyar Podcast. We cover deep value investing and the acquirer’s multiple.
TAM Stock Screener – Stocks Appearing in Fisher, Greenblatt, 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, Ray Dalio, … Read More
This Week’s Best Investing Reads 10/19/2018
Here’s a list of this week’s best investing reads: How the Many Sides to Every Story Shape our Reality (Farnam Street) The Worst Kind of Bear Market (A Wealth of Common Sense) Haste Makes Waste (Collaborative Fund) These Are the Goods (The Irrelevant Investor) The Laws of Medicine (Barel Karsan) “There Ain’t Gonna Be No Core” … Read More
Bruce Berkowitz: 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
Aswath Damodaran: Investors Have Three Choices When It Comes To Investing In Marijuana Businesses
Aswath Damodaran has just released his latest video in which he discusses the businesses that are involved in the marijuana market and the three choices that investors have when assessing their investment choices in this space saying: “If the marijuana market is likely to grow strongly, it should be a … Read More
Warren Buffett Predicted The Fall Of Eddie Lampert And Sears Over 10 Years Ago
Here’s an article at Yahoo Finance discussing the bankruptcy of Sears and the prediction by Warren Buffett 10 years ago regarding the fall of Eddie Lampert and Sears. Here’s an excerpt from that article: The end for Eddie Lampert, the hedge fund manager in charge of Sears Holding Group, appears … Read More
Jonathon Tepper: Buffett Is The Antithesis Of Capitalism
We’ve just been reading the introduction and first chapter of Jonathon Tepper’s new book – The Myth of Capitalism: Monopolies and the Death of Competition, which are free online. The book tells the story of how America has gone from an open, competitive marketplace to an economy where a few … Read More
Mohnish Pabrai: The Ten Commandments of Investment Management
We’ve just been watching a recent presentation with Mohnish Pabrai at the Carroll School of Management – Boston College. Pabrai is discussing his ten commandments of investment management as follows: 1. Thou shall not skim off the top [fees] 2. Thou shalt not have an investment team 3. Thou shalt … Read More
Nassim Taleb: 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 the 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 … Read More
James Montier – The World’s Dumbest Idea – Shareholder Value Maximization
Some years ago, James Montier wrote a great paper called – The World’s Dumbest Idea, that explored the problems surrounding the concept of shareholder value and its maximization saying: “Before you dismiss me as a raving “red under the bed,” you might be surprised to know that I am not … Read More
Seth Klarman’s Protege David Abrams: 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
This Week’s Best Investing Reads 10/12/2018
Here’s a list of this week’s best investing reads: You Never Know (A Wealth of Common Sense) Time Horizon vs Endurance (Collaborative Fund) U-G-L-Y (The Irrelevant Investor) And then they came for the tech stocks… (The Reformed Broker) Lessons from Howard Marks’ New Book: “Mastering the Market Cycle – Getting the Odds on … Read More
TAM Stock Screener – Stocks Appearing in Munger, Watsa, Chou 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, Ray Dalio, … Read More
Howard Marks: The Pendulum of Investor Psychology
We’ve just been reading Howard Marks’ new book – Mastering The Market Cycle. In it there’s a great chapter titled – The Pendulum of Investor Psychology which discusses the impact of investor psychology on markets. Marks writes: One of the most time-honored market adages says that “markets fluctuate between greed … Read More
John Hussman: Fish Don’t Know They’re In Water (Investors In A Market Bubble)
We’ve just finished reading a great article by John Hussman at Hussman Funds called The Music Fades Out in which Hussman discusses current market conditions and provides a great illustration of the changes in investor psychology during market bubbles. Here’s an excerpt from that article: Fish don’t know they’re in … Read More