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
VALUE: After Hours (S06 E42): Banks, REITs, Energy and Betting Markets with Tim Travis, Portfolio Manager, TT Capital
In their latest episode of the VALUE: After Hours Podcast, Tobias Carlisle, Jake Taylor, and Tim Travis discuss: Why Buffett Slashed His Apple Stake Why Investment-Grade Bonds Offer an Attractive Hedge Top REIT Opportunities Bruce Berkowitz, Sears, and the Perils of Concentrated Investing How Animal Tails Inspire Different Tail Risk … Read More
Lockheed Martin Corp (LMT) DCF Valuation: Is The Stock Undervalued?
As part of a new series, each week we typically conduct a DCF on one of the companies in our screens. This week we thought we’d take a look at one of the stocks that is not currently in our screens, Lockheed Martin Corp (LMT). Profile Lockheed Martin is the … Read More
This Week’s Best Value Investing News, Podcasts, Interviews (11/15/2024)
This week’s best investing news: Warren Buffett’s Apple share sales and cash pile spark intrigue over motives (FT) Mohnish Pabrai on The Dhandho Investor: The Low-Risk Value Method to High Returns (MOI) David Einhorn – We have increased our bets on inflation (CNBC) Why The Long Face, Uncle Warren? (Felder) … Read More
Lowe’s Companies Inc (LOW): Is It a Buy? – Acquirer’s Multiple Stock Screener Analysis
As part of our ongoing series here at The Acquirer’s Multiple, each week we focus on one of the stocks from our Stock Screeners, and why it’s a ‘buy’ based on key fundamentals. One of the cheapest stocks in our Stock Screeners is: Lowe’s Companies Inc (LOW) Lowe’s is the second-largest home improvement retailer … Read More
The Growing Divide in S&P 500 Valuations: What It Means for Value Investors
During their recent episode, Taylor, Carlisle, and Matthew Fine discussed The Growing Divide in S&P 500 Valuations: What It Means for Value Investors. Here’s an excerpt from the episode: Tobias: One of the little charts that you had showed the S&P 500 quartile spreads most expensive to cheapest. It’s a … Read More
Cliff Asness: Why Quant Strategies Make It Very Hard For Us To Lose Over Time
In his interview in the book – Efficiently Inefficient, Cliff Asness discusses the parallels between quantitative and judgmental (discretionary) investing, noting that both seek undervalued stocks with catalysts that might change their valuations. He highlights that while judgmental managers often concentrate their holdings, relying on deep company knowledge, quants leverage diversification, … Read More
Howard Marks: The Secret to Achieving an Elite Investment Track Record
In this interview with Kiatnakin Phatra Wealth Management, Howard Marks explains why effective risk control is essential to achieving investment success, summarizing his philosophy as “if we avoid the losers, the winners take care of themselves.” Rather than seeking extraordinary gains, Marks focuses on maintaining consistent, good-quality investments, aspiring for … Read More
Large-Cap Stocks In Trouble: Here Are The 10 Worst Performers Over The Past 12 Months
Over the past twelve months ten Large-Cap stocks have underperformed all others. Here’s this week’s top 10 worst performing Large-Caps in the last twelve months: Name 1 Year Price Returns (Daily) Walgreens Boots Alliance (WBA) -51.34% Dollar Tree (DLTR) -46.16% Estee Lauder Companies (EL) -42.40% Humana (HUM) -42.15% Moderna (MRNA) … Read More
Which Superinvestors Hold Acquirer’s Multiple Stocks?
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, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and … Read More
Apperceptive Mass: From Katamari to Cognitive Growth
During their recent episode, Taylor, Carlisle, and Matthew Fine discussed Apperceptive Mass: From Katamari to Cognitive Growth. Here’s an excerpt from the episode: Tobias: We are right at the top of the hour, which means that it’s JT’s vegetables. Market for everybody who’s looking for the timestamp just wants to … Read More
Warren Buffett: Our Playbook for Outperforming the S&P in the Long Run
In his 2013 Berkshire Hathaway Annual Letter, Warren Buffett explains that Berkshire Hathaway’s intrinsic value far exceeds its book value, a gap that has widened over time. This justified a 2012 decision allowing share repurchases at 120% of book value, as such buybacks benefit shareholders by securing shares below intrinsic … Read More
Ray Dalio: Investing – My Guiding Principles For Successful Decision-Making
In his book – Principles: Life and Work, Ray Dalio emphasizes the importance of confronting and accepting uncertainty to make better decisions. He advocates for the value of seeking diverse perspectives and staying humble about what you know, as knowledge gaps can lead to critical insights. Dalio encourages logical decision-making … Read More
The One Stock That Superinvestors Are Dumping: Is It Time to Sell?
As part of the weekly research here at The Acquirer’s Multiple we’re always interested in superinvestors who hold the same stocks that appear in our Acquirer’s Multiple Stock Screeners, based on their latest 13F’s. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth … Read More
Mercedes and European Banks Are Leading in Shareholder Capital Returns
During their recent episode, Taylor, Carlisle, and Matthew Fine discussed Mercedes and European Banks Are Leading in Shareholder Capital Returns. Here’s an excerpt from the episode: Matthew: Yeah. Maybe that’s the side of the top. I haven’t explicitly focused the way that he has on companies that are returning a … Read More
Warren Buffett: Why Too Many Great CEOs Could Hurt Market Returns
During the 1998 Berkshire Hathaway Annual Meeting, Warren Buffett contemplates the impact if all Fortune 500 companies were run by exceptional leaders like Jack Welch. He suggests that, while each individual might excel, competition among 500 “sensational competitors” could lead to a self-neutralizing effect, driving down returns on equity due … Read More
Mohnish Pabrai: 7 Essential Questions Before Investing in Any Stock
In his book – The Dhandho Investor, Mohnish Pabrai outlines seven key questions that investors should address before buying a stock. He emphasizes understanding the business deeply, accurately estimating its intrinsic value over time, ensuring it’s priced at a significant discount (over 50%), and being comfortable investing a large portion … Read More
The Undervalued Stock That Superinvestors Are Loading Up On
As part of the weekly research here at The Acquirer’s Multiple we’re always interested in investing gurus who hold the same stocks that appear in our Acquirer’s Multiple Stock Screeners, based on their latest 13F’s. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, … Read More
Derating and Lack of Rerating Are Changing the Face of Value Investing
During their recent episode, Taylor, Carlisle, and Matthew Fine discussed Derating and Lack of Rerating Are Changing the Face of Value Investing. Here’s an excerpt from the episode: Tobias: This is a related question, but I tend to agree that if everything gets too cheap and all the competition for … Read More
Warren Buffett: Playing Russian Roulette with Leverage Isn’t Worth It
During the 1999 Berkshire Hathaway Annual Meeting, Warren Buffett discussed Berkshire Hathaway’s caution against excessive borrowing, explaining that while moderate debt might have increased their wealth, substantial borrowing could have led to trouble. He highlights how many intelligent investors consistently use risky, leveraged instruments, especially with others’ money. Buffett references … Read More