[View the story “Week Beginning July 17th, 2017” on Storify]
This Week’s Best Investing Reads – Curated Links
Here’s a list of this week’s best investing reads: Blogs Why Simple Beats Complex (A Wealth of Common Sense) Investing Successfully is Really Hard (Above The Market) Tactical Asset Allocation: Does the Day of the Month Matter? (Alpha Architect) Emerging Market Equities: Unloved and Under-Owned (CFA Institute Enterprising Investor) The Reasonable Formation of Unreasonable Things (Collaborative Fund) Active Listening (Farnam Street) A (Long) … Read More
Undervalued Alliance Holdings, FCF/EV Yield 27%, Shareholder Yield 9% – All Investable Stock Screener
One of the cheapest stocks in our All Investable Stock Screener is Alliance Holdings GP LP (NASDAQ:AHGP). Alliance Holdings GP LP (Alliance) is a limited partnership formed in November 2005 to own and control Alliance Resource Management GP, LLC, the managing general partner of Alliance Resource Partners, L.P. (ARLP), a publicly traded … Read More
Alexander Roepers – Look For Companies With Predictable, Sustainable Franchises That Have Hit A Speed Bump
One of the investors we watch closely here at The Acquirer’s Multiple is Alexander Roepers, the founder of Atlantic Investment Management. The firm’s investing methodology is differentiated by its: (1) well-defined universe of quality publicly-traded industrial / consumer companies; (2) concentration of capital and research on its highest conviction investments; … Read More
Tobias Carlisle In The News – Canadian Acquirer’s Multiple – The Globe And Mail
Following the recent micro-cap conference in Toronto our very own Tobias Carlisle was interviewed by Norman Rothery at The Globe and Mail regarding our Canada All TSX Stock Screener. The article is titled, How a money manager is producing phenomenal results using ‘the Acquirer’s Multiple’. Here’s an excerpt from that … Read More
Undervalued Hawaiian Holdings, ROE 32%, FCF/EV Yield 10% – All Investable Stock Screener
One of the cheapest stocks in our All Investable Stock Screener is Hawaiian Holdings Inc (NASDAQ:HA). Hawaiian Holdings Inc. (Hawaiian) is a holding company. The company is engaged in the scheduled air transportation of passengers and cargo amongst the Hawaiian Islands (the Neighbor Island routes), between the Hawaiian Islands and certain … Read More
Walter Schloss Would Roll In His Grave If He Could Read This Latest Research From Stanford
Walter Schloss is on Warren Buffett’s list of Super-investors. He’s a man who rarely spoke to management and analysts. So, I’m fairly certain he would roll in his grave he if could read this latest research from Stanford University regarding analyst coverage and how it’s a good prediction of how well … Read More
Undervalued Micro-Cap Natural Alternatives, FCF/EV Yield 15%, Zero Debt – Small & Micro Cap Stock Screener
One of the cheapest stocks in our Small & Micro Cap Stock Screener is Natural Alternatives International Inc (NASDAQ:NAII). Natural Alternatives International Inc (NAII). is a formulator, manufacturer and marketer of nutritional supplements. The company operates through three segments: private-label contract manufacturing, patent and trademark licensing, and branded products. A quick look … Read More
Howard Marks – The Poor Man’s Guide To Market Assessment
One of my favorite investing books is The Most Important Thing: Uncommon Sense for the Thoughtful Investor, by Howard Marks. The book includes passages from Marks’ memos to illustrate his investment philosophy. In Chapter 15 Marks provides a very simple example of how to identify the current state of any market … Read More
Undervalued Argan Inc, FCF/EV Yield 66%, ROE 26%, Zero Debt- All Investable Stock Screener
One of the cheapest stocks in our All Investable Stock Screener is Argan Inc (NYSE:AGX). Argan, Inc. (Argan) is a holding company. The company conducts operations through its subsidiaries: Gemma Power Systems LLC and affiliates (GPS) Atlantic Projects Company Limited (APC) Southern Maryland Cable, Inc. (SMC) and The Roberts Company (Roberts … Read More
Seth Klarman – Herd Mentality Creates Buying Opportunities For Contrarians – Margin of Safety
One of the investors we follow closely at The Acquirer’s Multiple is Seth Klarman. In his best selling book, Margin of Safety, Klarman provides some great insights into how herd mentality towards popular stocks creates buying opportunities for contrarian value investors. Here’s an excerpt from that book: Value investing by … Read More
Returns to The Acquirer’s Multiple® Screeners and The Best Value Stocks
[View the story “Week Beginning July 10th, 2017” on Storify]
This Week’s Best Investing Reads – Curated Links
Here’s a list of this week’s best investing reads: Blogs Charlie Munger’s “The Psychology of Human Misjudgement” – Animated Version (Hurricane Capital) Eugene Fama: Stick with Basic Factors (CFA Institute Enterprising Investor) Finding Good Capital Allocators; The Problems with Using Sentiment (csinvesting) The Best Way To Add Yield To Your Portfolio (Meb Faber Research) Lessons Learned After Almost a … Read More
Heartland Advisors Says Index Investors Are Open To Painful Losses When The Inevitable Correction Occurs
One of the value investing firms we like to watch closely here at The Acquirer’s Multiple is Heartland Advisors run by Founder and CIO Bill Nasgovitz. In its most recent market commentary Heartland says, current market levels point to rampant group think where a single popular view spreads and no … Read More
Carl Icahn – How Did Icahn And Kingsley See Investment Opportunities When Others Couldn’t
One of the investors we follow closely here at The Acquirer’s Multiple is Carl Icahn, and one of the best pieces ever written on Icahn’s investing strategy comes from Tobias Carlisle’s book, Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations. Carlisle illustrates how Icahn … Read More
Jason Zweig Says Stock Picking Is Dying Because There Are No More Stocks To Pick
Here’s a great article by Jason Zweig who says the universe of stocks is shrinking making it more difficult for investors to find undervalued opportunities. Here’s an excerpt from that article: In less than two decades, more than half of all publicly traded companies have disappeared. There were 7,355 U.S. stocks … Read More
Undervalued Exco Technologies, FCF/EV Yield 11%, Shareholder Yield 3% – Canada All TSX Stock Screener
One of the cheapest stocks in our Canada All TSX Stock Screener is Exco Technologies Limited (TSE:XTC). Exco Technologies Limited (Exco) is a designer, developer and manufacturer of dies, molds, components and assemblies, and consumable equipment for the die-cast, extrusion and automotive industries. The company’s segments include casting and extrusion, and … Read More
Bill Ackman – Try To Invest In Businesses Where It’s Very Hard To Lose Money
One of the investors we watch closely here at The Acquirer’s Multiple is Bill Ackman. In 2015 Ackman did a great interview with The Graham & Doddsville Newsletter in which he discusses how to find great businesses to invest in, why he prefers to be concentrated, and the importance of … Read More
Has The Price-To-Book Metric Become Redundant – O’Shaughnessy Asset Management
Just finished reading a great paper by O’Shaughnessy Asset Management that discusses whether the traditional Price-to-Book metric has become redundant because of the increase in shareholder transactions, primarily through the increase in share repurchases. Here’s an excerpt from that paper: Value has broadly been accepted as an investing style and, historically, portfolios … Read More
Undervalued Cisco Systems, FCF/EV Yield 10%, Shareholder Yield 5% – Large Cap 1000 U.S. Stock Screener
One of the cheapest stocks in our Large Cap 1000 U.S. Stock Screener is Cisco Systems, Inc. (NASDAQ:CSCO). Cisco Systems, Inc. (Cisco) designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The company operates through three geographic segments: Americas; Europe, … Read More