My new book The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market is out now on Kindle, paperback, and Audible. From Amazon The Acquirer’s Multiple is an easy-to-read account of deep value investing. The book shows how investors Warren Buffett, Carl Icahn, David Einhorn and Dan Loeb … Read More
Warren Buffett – Mistakes of the First Twenty-Five Years
One of the best resources available to investors are the Berkshire Hathaway shareholder letters. One of my personal favorites is the 1989 letter in which Warren Buffett wrote a piece called – Mistakes of the First Twenty-five Years (A Condensed Version). It’s a great insight into how even the greatest investors … Read More
Charlie Munger – Successful Investing Is About Being ‘Non-Idiotic’
One of the best resources for investors are the Daily Journal Corporation shareholder meetings chaired by Charlie Munger. My personal favorite is his 2015 meeting in which he discusses Darwinism, Henry Singleton, human nature, and what he learned from Einstein. But there’s also a wonderful insight into how he was able … Read More
Bruce Berkowitz – 26 Maxims For Successful Value Investing
One of my favorite investing books is Invest Like A Dealmaker by Christopher Mayer. The main premise of the book is that there are two market prices for a company listed on the stock exchange. One price (the public market price) can be found using the ticker symbol on sources like … Read More
Returns to The Acquirer’s Multiple® Screeners and The Best Value Stocks
[View the story “Week Beginning October 23rd, 2017” on Storify]
Mohnish Pabrai – Focus On Individual Stocks And Never Ever Invest In IPO’s – Here’s Why
Here’s a great interview with Mohnish Pabrai on ET Now. With regards to IPO’s Pabrai says, “The simple rule to follow is do not buy what is being sold, especially what is being sold by promoters. Just completely side step the IPO market.” In relation to individual stock investment he … Read More
This Week’s Best Investing Reads
Here’s a list of this week’s best investing reads: Poking Holes in the Market Bubble Hypothesis (csinvesting) Income Investors: It’s OK to Be Sad, But Don’t Get Desperate (Jason Zweig) Stocks Are More Than Twice As Highly Valued Today Than They Were In 1987 Before The Crash (The Felder Report) They’re All Going to Leave (The Irrelevant Investor) … Read More
Howard Marks – Most Great Investors Stick To An Approach Through Thick And Thin
I’ve just been reading the latest Graham & Doddsville newsletter which features Howard Marks. the Co-Chairman of Oaktree Capital. It’s a great interview with Mark’s in which he discusses his investing strategy, investor psychology, investing timeframes and how great investors stick to their approach through thick and thin. Here’s an … Read More
Michael Steinhardt – Being Contrarian Is Not Enough. You Have To Be Right!
Michael Steinhardt is an investing legend. His fund, Steinhardt Partners had an impressive track record that amassed 24% compound average annual returns for a 28-year period. He focused on a macro asset allocation strategy that included stocks, bonds, options, and currencies. His investing strategy was best summarized by his six golden … Read More
Warren Buffett’s Hero Philip Carret Says There’s Only One Rule For Selling Winning Stocks
One of our favorite investors here at The Acquirer’s Multiple is value investing legend Philip Carret who Warren Buffett once described as one of his heroes. Carret has written three books – The Art of Speculation, A Money Mind at Ninety, and Classic Carret: Common sense from an uncommon man. After founding … Read More
Charles Munger – 5 Ultrasimple Notions For Successful Investing
One of my favorite investing books is – Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, by Janet Lowe. The book is a great insight into Munger’s life, philosophy, and investing journey. One passage in the book which is of particular interest to investors is Munger’s five ultrasimple … Read More
Returns to The Acquirer’s Multiple® Screeners and The Best Value Stocks
[View the story “Week Beginning October 16th, 2017” on Storify]
Maurece Schiller’s Fortunes in Special Situations in the Stock Market: The Authorized Edition
Tom Jacobs recently published Maurece Schiller’s Fortunes in Special Situations in the Stock Market: The Authorized Edition. We provided an endorsement and the following foreword: Beginning with Maurece Schiller’s series is the original and definitive guide to special situation investing. It is not an embellishment to say it stands shoulder-to-shoulder with the three … Read More
This Week’s Best Investing Reads
Here is a list of some of this week’s best investing reads: Financial News Doesn’t Rhyme But It Does Repeat Itself (A Wealth of Common Sense) The Price of Progress (The Irrelevant Investor) Bulls Rampage (csinvesting) Life Lessons from a Self-Made Billionaire: My Conversation with Ray Dalio (Farnam Street) Why You Don’t Want to Invest Like an Expert (Jason Zweig) … Read More
Ron Muhlenkamp – The 3 Year Rule That Reduces The Volatility In Your Portfolio
Most investors check their portfolio every day or every week to see how it’s performing. The problem with that is that the patience of these investors is often exhausted with the inevitable short-term swings in the market. This eventually leads to investors losing their nerve and acting on the short-term … Read More
Joel Greenblatt – The Secret To Diversification Is Not Owning More Stocks
One of the biggest questions facing most investors is how may stocks to hold to provide the appropriate level of diversification. Answers vary with some of the greatest investors preferring to make large bets on fewer stocks while others prefer to own dozens of stocks. One answer can be found … Read More
Charles Munger – Big Gains Invariably Mean Long Periods Of Underperformance
Let’s face it, most investors are not prepared to go through long periods or short periods of underperformance in order to achieve outperformance. The only problem with that is that those investors will invariably miss out of the big gains achieved by the most successful investors. The good news is … Read More
Seth Klarman – 20 Investment Lessons From 2008
As we’re currently in the midst of a sustained bull market it seems like a good time to reflect on the 2008 financial crisis and some of the lessons we should remember when everything appears to be rosy in the stock market. Back in 2010, Value Investors Insight printed a great article, … Read More
Returns to The Acquirer’s Multiple® Screeners and The Best Value Stocks
[View the story “Week Beginning October 9th, 2017” on Storify]
This Week’s Best Investing Reads
Here’s a list of some of the best investing reads we found this week: Will You Be Ready When the Stock Market Crashes Again? (Jason Zweig) Good Thing Jesse Isn’t Around To See This (The Macro Tourist) Kryptonite Even Superman Could Love… (Wexboy) The Four Fundamental Skills of All Investing (Collaborative Fund) Good Advice vs. Effective Advice (A Wealth … Read More