Tiger Global’s Q3 2025 13F shows a return to aggressive growth positioning. While many hedge funds have been rotating into defensives, Chase Coleman continues leaning into secular digital winners, cloud infrastructure, and global e-commerce — with several noteworthy additions and high-conviction increases. Below is a breakdown of the most significant … Read More
VALUE: After Hours (S07 E41): Why Asset-Heavy Businesses Are Undervalued — And How Investors Can Profit
During their recent episode, Tobias Carlisle and Jonathan Boyar discussed Why Asset-Heavy Businesses Are Undervalued — And How Investors Can Profit. Here’s an excerpt from the episode: Jonathan: Certainly, seems that way for the time being. Some of the part stories, asset heavy stories– The Madison Square Garden Sports, for … Read More
Tom Gayner: Why Avoiding “Hot Stocks” Leads to Better Long-Term Returns
During his recent interview at the Library of Mistakes, Tom Gayner emphasized that true success stems not from chasing the “cool kids,” but from a steadfast, principled approach. “I have never been a cool kid. I’ve never owned a hot stock. Not once ever,” he stated, underscoring a discipline that … Read More
This Week’s Deep-Value Stock Screen: Energy & Financials Dominate Again
This Week’s Deep-Value Landscape Energy and Financials once again dominate the top of this week’s Acquirer’s Multiple® Large Cap Screen, reinforcing a now-persistent pattern: the market continues to punish cyclical sectors despite record cash generation, lean balance sheets, and structurally improved business models. At the top of the rankings, Equinor … Read More
VALUE: After Hours (S07 E41): The Rise of Passive Investing Is Distorting Markets
During their recent episode, Tobias Carlisle and Jonathan Boyar discussed The Rise of Passive Investing Is Distorting Markets. Here’s an excerpt from the episode: Jonathan: I think 100%. Listen, passive, for the most part, has been active significantly and I could see why investors would gravitate toward it. But it’s … Read More
Terry Smith Warns Against Chasing AI Fads
In a recent interview with AJ Bell, Terry Smith of the Fundsmith Equity Fund addressed a period of relative underperformance with his characteristic long-term perspective. He identified a series of headwinds, noting, “When rates go up… our type of companies suffer in share price terms.” This dynamic was followed by … Read More
Why Top Investors Are Buying Constellation Brands (STZ)
According to their latest 13F filings, institutional investors made a series of notable moves in Constellation Brands (STZ), one of the leading global producers of premium beer, wine, and spirits. STZ’s steady cash generation, strong brand portfolio, and resilient consumer demand continue to attract both long-term value investors and quantitative … Read More
VALUE: After Hours (S07 E41): How to Avoid Value Traps Before They Blow Up
During their recent episode, Tobias Carlisle and Jonathan Boyar discussed How to Avoid Value Traps Before They Blow Up. Here’s an excerpt from the episode: Jonathan: It’s difficult, if not impossible. I mean, part of it is just gut feeling from doing this for a long time. But if you … Read More
Bill Nygren: How To Find Doubles
In a recent discussion on CNBC, Bill Nygren of the Oakmark Fund detailed his disciplined investment approach, providing a clear window into the mind of a value manager. His fund’s top holdings include Alphabet, Citigroup, and Warner Brothers Discovery. While acknowledging the strength of a holding like Alphabet, Nygren explained … Read More
Buffett Goes Big on Alphabet: Full Breakdown of Berkshire’s Q3 Buys
The latest 13F from Berkshire Hathaway shows a characteristically concentrated — but unusually active — quarter for Warren Buffett. While Berkshire trimmed several long-held positions earlier in 2025, this filing reveals where capital actually flowed in. Much of the activity reflects classic Buffett behavior: doubling down on durable franchises, opportunistic … Read More
VALUE: After Hours (S07 E41): Jonathan Boyar on opportunistic value in $UBER, $UNF, $HHH, $MSGS, $BATRA and $MRK
During their recent episode, Taylor, Carlisle, and Jonathan Boyar discussed: How to Avoid Value Traps Before They Blow Up The Rise of Passive Investing Is Distorting Markets Why Asset-Heavy Businesses Are Undervalued — And How Investors Can Profit The Only Real Market Edge Left: Why Time Arbitrage Still Works HHH: … Read More
Costco Wholesale Corporation (COST): Our Calculation of Intrinsic Value
Profile Costco Wholesale Corporation operates membership warehouses that offer branded and private-label products across a wide range of categories, including groceries, electronics, apparel, and household goods. Its low-margin, high-volume model enables it to deliver consistently strong sales growth and exceptional customer loyalty. With over 870 warehouses globally and an expanding … Read More
Weekly Investing Roundup – News, Podcasts, Interviews (11/21/2025)
This week’s best investing news: Mohnish Pabrai – 5th European Value Investing Conference (Ivey) Howard Marks: “US Stocks Are ‘Worrisome” (MoneyTalk) Ray Dalio: We are definitely in a bubble, but that doesn’t mean you should sell (CNBC) 10 Things We Can Learn From Warren Buffett That Have Nothing to Do … Read More
Global Ship Lease (GSL): High-Yield Deep Value Play
As part of our ongoing series at The Acquirer’s Multiple, each week we spotlight a stock from our Stock Screeners that might be a deeply undervalued gem hiding in plain sight. This week’s spotlight is Global Ship Lease, Inc. (NYSE: GSL). Global Ship Lease owns and charters a fleet of … Read More
VALUE: After Hours (S07 E40): AI As An Existential Crisis
During their recent episode, Taylor, Carlisle, and Seth Cogswell discussed AI As An Existential Crisis. Here’s an excerpt from the episode: Seth: There’re some financial shenanigans going on. What really backs that up, exactly what you just mentioned, Tobias, although I’d say it’s actually a little crazier, where these chips … Read More
Cliff Asness: Social Media Turns Wisdom of Crowds Into Market Chaos
In a conversation on the Odd Lots podcast, Cliff Asness of AQR Capital Management presented a compelling case for why modern markets may be increasingly prone to significant dislocations from fundamental value. His thesis, detailed in his piece “The Less Efficient Market Hypothesis,” points to structural shifts that challenge the … Read More
Rich Pzena Q3 2025: Baxter Surge and Magna Strength Highlight a Classic Deep-Value Quarter
Rich Pzena’s disciplined value approach remains firmly intact heading into late 2025. According to the latest 13F filing for the quarter ended September 30 2025, Pzena Investment Management LLC reported a total portfolio value of $30.94 billion. The fund’s top 10 positions account for 39.2 % of total assets, underscoring … Read More
VALUE: After Hours (S07 E40): The AI Paradox: Why Tech Burns Cash While Other Sectors Capture the Value
During their recent episode, Taylor, Carlisle, and Seth Cogswell discussed The AI Paradox: Why Tech Burns Cash While Other Sectors Capture the Value. Here’s an excerpt from the episode: What I feel that many are completely missing, is that $20 billion in revenue has a reciprocal cost. So, companies are … Read More
Howard Marks: There’s Much Less Than 100% Probability That Investing In Any Given AI Company Or Sector Today Will Be Profitable
In a recent interview with Global Money Talk, Howard Marks reflected on his 35 years of writing investment memos, beginning with a simple belief: “I thought I had an interesting story to tell.” That story, from his very first memo, highlighted a pension fund that achieved top performance through remarkable … Read More
Deep-Value Opportunities Dominate Energy, Financials, and Materials in This Week’s Large-Cap Screener
This Week’s Deep-Value Landscape Energy and Financials continue to anchor the deep-value landscape in this week’s screen. On the Financials side, Synchrony Financial (SYF) leads again with an Acquirer’s Multiple (AM) of 2.3 and an extraordinary 38.4% free cash flow yield. Despite consistent profitability, conservative underwriting, and relentless buybacks, SYF … Read More