Here’s a great article from Morningstar in which Daniel Kahneman provides financial advisors with advice on how to better steer clients towards their investment goals using a “regret proof” policy. The policy could also be adapted by individual investors in managing their own portfolios. Here’s an excerpt from that article: Finding … Read More
Schroders: Why Value Investing May Be Primed To Bounce Back
Schroders have just released a great report on the future of value investing saying value investing may now be primed for a comeback. Here’s an excerpt from that report: It has been a miserable decade for the value style of investing, whose performance has languished behind its rival growth style. The … Read More
Mohnish Pabrai: The Yellowstone Factor In Investing
Some years ago Mohnish Pabrai wrote a great piece about valuing investments called – The Yellowstone Factor. In the article Pabrai provided some great insights on the importance of not relying on absolute and precise mathematics in investing saying: “Investing is not a discipline based on absolutes or precise mathematics. There simply … Read More
Bill Miller Reveals The Biggest Mistake Value Investors Are Making Now
Here’s a interesting article about value investing legend Bill Miller at CNBC which discusses how Miller has modified his value investing approach over the years. It also highlights the biggest mistake that value investors are making today by excluding FAANG stocks: It happens late in nearly every bull market: Complaints … Read More
Warren Buffett: “Anytime That The Market Takes A Sharp Dive And You Get Tempted To Sell Or Something, Just Pull Out This Book And Reread It!
Here’s a nostalgic video with Bill Gates and Warren Buffett. At 2:13 Buffett says: “This is a book that first came out in 1949, The Intelligent Investor by Ben Graham. When I read this book it changed my life. Anytime that the market takes a sharp dive and you get tempted to … Read More
Peter Lynch Protege Joel Tillinghast: How To Avoid Value Traps
One of our favorite investing books here at The Acquirer’s Multiple is – Big Money Thinks Small, by Joel Tillinghast. Tillinghast is a protege of value investing legend Peter Lynch. In the Foreword of the book Lynch provides glowing praise for Tillinghast saying: “I have been an active stock picker for … Read More
This Week’s Best Investing Reads 06/22/2018
Here is a list of this week’s best investing reads: 100 to 1; Sales; Hedge Fund Pop Quiz (csinvesting) Why The Next Bear Market May Feel More Painful (A Wealth of Common Sense) Tails, You Win (Collaborative Fund) Hostages (The Reformed Broker) Pain Plus Reflection Equals Progress (Farnam Street) The Geometry of Wealth (The Irrelevant Investor) The Evil Hours (Of Dollars and Data) … Read More
AM Stock Screener – Undervalued Fortuna Silver Mines Inc (NYSE: FSM)
One of the cheapest stocks in our All Investable Stock Screener is Fortuna Silver Mines Inc (NYSE: FSM). Fortuna Silver Mines Inc (Fortuna) is a Canadian-based precious metals producer. Its business operations are comprised of mining and related activities in Latin America, including exploration, extraction, and processing of silver-lead, zinc, and silver-gold, … Read More
AM Stock Screener – Stocks Appearing in Abrams, Greenblatt, Price 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
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