One of the new weekly additions 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 Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and … Read More
T. Rowe Price: Value Investing Is Not Dead
Here’s a great article by Sebastien Mallet, Portfolio Manager at T. Rowe Price on the future of value investing saying: “So getting back to the original question, “Is value investing dead?”: The answer is a firm no. The only caveat to that statement is that in this current environment, where everyone … Read More
Li Lu: “The Market Is A Mechanism That Discovers Your Weaknesses. Any Fault/Defect You Have Will Be Magnified Infinitely, To The Point Of Complete Destruction.”
One of our favorite investors to follow here at The Acquirer’s Multiple is Li Lu, Founder and Chairman of Himalaya Capital. In 2015 Li Lu did a value investing lecture at Peking University titled – The Prospect of Value Investing in China, in which he provided a number of fantastic value … Read More
Howard Marks: The Route To Superior Performance Will Continue To Be Humans With Superior Insight
Howard Marks has just released his latest memo titled – Investing Without People. Marks also released a short video (below) which summarizes the memo saying: “If the day comes when intelligent machines run all the money, won’t they all see everything the same? Won’t they reach the same conclusions? Design … Read More
Dan Ariely: 3 Simple Tricks To Help Investors Overcome Their Internal Biases
We just listened to a great podcast with Dan Ariely being interviewed by Shane Parrish at The Knowledge Project. During the interview Ariely provides investors with three tricks that can help overcome internal biases and change subconscious defaults to more of a conscious state of mind which in turn lead … Read More
This Week’s Best Investing Reads 06/15/2018
Here is a list of this week’s best investing reads: Deductive vs Inductive Reasoning: Make Smarter Arguments, Better Decisions, and Stronger Conclusions (Farnam Street) Is the U.S. Due For a Recession? (A Wealth of Common Sense) What Do Clients Want? (The Irrelevant Investor) User and Subscriber Businesses: The Good, the Bad and the Ugly! (Musings On … Read More
AM Stock Screener – Undervalued Image Sensing Systems, Inc. (NASDAQ: ISNS)
One of the cheapest stocks in our Small & Micro-Cap Stock Screener is Image Sensing Systems, Inc. (NASDAQ: ISNS). Image Sensing Systems Inc develops and markets software-based computer enabled detection products for use in traffic, safety, security, police and parking applications. The company operates through two segments namely Intersection and Highway. Its … Read More
Acquirer’s Multiple Stocks Appearing in Marks, Grantham, Gabelli Portfolios
One of the new weekly additions 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 Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and … Read More
What Helps or Hurts Investment Returns? Here’s a Ranking
Here’s a great article by Barry Ritholz at Bloomberg in which he ranks the most important factors that drive portfolio returns. Here’s an excerpt from that article: What drives the returns of any investment portfolio? Specifically, from the moment someone starts saving for retirement which could be done together with … Read More
Guy Spier: What Lunch With Warren Buffett Taught Me About Investing And Life
Here’s a great article by Guy Spier at MarketWatch in which he discusses what his lunch with Warren Buffett taught him about investing and life. Here’s an excerpt from that article: It’s been 10 years since I and my friend, investor Mohnish Pabrai, won the annual Glide Foundation charity auction … Read More
The Long Term Problem With Growth Stocks
There’s always lots of discussion about the performance of growth stocks versus value stocks. With this in mind here’s a great article at The Globe and Mail by George Athanassakos, a professor of finance and the Ben Graham Chair in Value Investing at the Richard Ivey School of Business, University … Read More
Why Value Investors Shouldn’t Give Up Just Yet
Here’s a great article by John Reese at The Globe and Mail which highlights the importance of sticking with a value investing strategy despite its recent underperformance saying: “Investors shouldn’t abandon value investing, either. If anything, the recent decade-long drought should foretell a reckoning is coming as rising interest rates benefit … Read More
Jamie Dimon: Investors Should Not Be Surprised By The Non-Linear Nature of Companies and Markets
Jamie Dimon provides some great insights in his Annual Shareholder Letters at JPMorgan Chase. In his latest letter Dimon makes a great point regarding the non-linear nature of companies and markets. Here’s an excerpt from that letter: Volatility and rapidly moving markets should surprise no one. We are always prepared … Read More
This Week’s Best Investing Reads 06/08/2018
Here is a list of this week’s best investing reads: Experience is Overrated (A Wealth of Common Sense) The Next Fifty Years (The Irrelevant Investor) The Psychology of Money (Collaborative Fund) The Economy is on Fire (The Reformed Broker) Bitcoin, Blockchain, and Money (csinvesting) To Succeed at Value Investing, You Need to Change (GuruFocus) ‘For investors, the danger is already … Read More
Forbes: Is Value Investing For Losers? No, So Don’t Get Tricked
Here’s a recent article at Forbes that discusses the cyclical nature of value investing and the importance of sticking with a value strategy during periods of underperformance, like the most recent one, saying: “This cycle is deep into the “growth dominates” phase, but the last thing you should do is … Read More
Jason Zweig: How Companies Use the Latest Profits Fad to Fool You
Here’s a great article by Jason Zweig at the WSJ which discusses how companies use the latest profits fad to fool investors: Eighty-six years ago this week, the stock market hit its worst low. Today, with markets near all-time highs, things aren’t as different as you might think. Then, as … Read More
Why A Do-Nothing Approach To Investing Is Often The Right Way To Go
Here’s a great article at The Globe And Mail which illustrates how investors are hurting their returns by actively over trading in stocks saying: “Trading is clearly the enemy of superior returns on a before-tax basis. This is doubly true in the after-tax world in which we all live.” Here’s … Read More
Acquirer’s Multiple Stocks Appearing in Dalio, Greenblatt, Simons Portfolios
One of the new weekly additions 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 Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and … Read More
Philip Carret: All Stock Investors Are Speculators By Necessity
One of the best books written on investing is The Art Of Speculation, by Philip Carret. There’s one passage in particular in which Carret illustrates how all stock investors are speculators by necessity. Here’s an excerpt from that book: It is unfortunate that the word “speculation” immediately suggests the word … Read More
Mohnish Pabrai: “We can do really well in the business even if we don’t understand 98% of the markets and the companies in them”
Here’s a great recent interview with Mohnish Pabrai and the folks at ET. During the interview Pabrai provided a number of valuable insights on his value investing approach. Here are some excerpts from that interview: High-uncertainty businesses coupled with low-risk result in high returns… Pabrai: It’s very interesting because stock … Read More