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”

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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

Ray Dalio: “Think About How To Rotate Your Portfolio To Buy That Which Is Cheap And Sell That Which Is Expensive”

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Last week Ray Dalio did a question and answer session with some folks on Reddit where he shared a number of valuable investing insights. Dalio started the conversation with the following message: “I’m Ray Dalio—founder of Bridgewater Associates and author of Principles. This is my first AMA. Ask me anything!” My … Read More

This Week’s Best Investing Reads 06/01/2018

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Here is a list of this week’s best investing reads: 3 Misconceptions About Interest Rates (A Wealth of Common Sense) Never Begin With the End in Mind (The Irrelevant Investor) Combatting F.O.M.B.E.Y. (The Reformed Broker) What’s Behind The Rapid Plunge In The ‘Smart Money Index’? (The Felder Report) Banks Won Big in Washington. What It Means for Investors (Jason Zweig) … Read More

James Montier: You Can Turn Behavioral Biases Into An Advantage Using A Valuation-Based Framework

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We’ve just been listening to a great interview with James Montier on Meb Faber’s podcast. During the interview Montier provides some great insights to help investors protect themselves from their behavioral biases. Montier says that you can actually turn behavioral biases, like anchoring, into an advantage using a valuation-based framework. … Read More

Seth Klarman Protege David Abrams Says “Value Investing Is The E = mc² Of Money And Investing”

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One of our favorite investors to follow here at The Acquirer’s Multiple is Seth Klarman’s protege David Abrams. Abrams typically shuns the public limelight so it’s difficult to find interviews where he shares his investing strategy. The WSJ did a great story on him back in 2014 titled – Hedge-Fund World’s … Read More

This Week’s Best Investing Reads 05/25/2018

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Here is a list of this week’s best investing reads: The Pygmalion Effect: Proving Them Right (Farnam Street) Stocks prices are a proxy for our beliefs about the future (The Reformed Broker) Condemned to Repeat the Mistakes of the Past (csinvesting) On Second Thought… (The Irrelevant Investor) To Be A New Fool In The World (Jason Zweig) Thinking Outside … Read More

Nassim Taleb: How Frequent The Profit Is Irrelevant; It Is The Magnitude Of The Outcome That Counts

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Here’s a great investing lesson by Nassim Taleb from his book Fooled by Randomness. Similarly to Michael Mauboussin in this article, Taleb makes the point that it’s not how frequently you profit from your investments that important, it’s the magnitude of the outcome that counts. Here’s an excerpt from the book: … Read More

Michael Mauboussin: The Babe Ruth Effect Generates More Successful Returns

Johnny HopkinsInvesting Strategy, Michael Mauboussin1 Comment

Here’s a great lesson from Michael Mauboussin’s book – More Than You Know. Mauboussin highlights the point that when it comes to successful investing it’s not about the frequency of correctness that matters in stock picking, it’s the magnitude of correctness that matters. This is called the Babe Ruth Effect. Here’s an excerpt from … Read More

This Week’s Best Investing Reads 05/18/2018

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Here is a list of this week’s best investing reads: Stanley Druckenmiller’s Big Mistake (The Irrelevant Investor) Just Half a Percent (A Wealth of Common Sense) Push and Pull (The Reformed Broker) Spies, Crime, and Lightning Strikes: The Value of Probabilistic Thinking (Farnam Street) The Art of Contrary Thinking (csinvesting) If Collaborative Fund Invested in Public Stocks (Collaborative Fund) Notes From Sohn … Read More