One of my favorite investors is Mohnish Pabrai. Mohnish Pabrai is the founder and Managing Partner of the Pabrai Investments Funds, the founder and CEO of Dhandho Funds, and the author of The Dhandho Investor and Mosaic – Perspectives on Investing. He’s one of the smartest guys on the planet when it comes … Read More
MoneySense | Best Value Investing Books For The Holiday Season
One of favorite money websites is, MoneySense.ca. Today, Norm Rothery at MoneySense provides three great value investing reads for the holiday season. I’ve read all three of these books and I have to agree with him. Here’s an excerpt from Norm’s article posted today:
The One Automobile Stock That Value Investors Should Own Right Now – Fiat Chrysler Automobiles NV (FCAU)
One of the cheapest stocks in our All Investable Screener, (which you can subscribe to here), is Fiat Chrysler Automobiles NV (NYSE:FCAU). Fiat Chrysler Automobiles N.V., (Fiat Chrysler) together with its subsidiaries, designs, engineers, manufactures, distributes, and sells vehicles, components, and production systems. The company operates through six segments: NAFTA, LATAM, APAC, EMEA, … Read More
Charlie Munger | Wall Street’s Locker Room Culture Does Enormous Damage
Charlie Munger is clearly one of the smartest investors on the planet. One of my favorite Munger interviews was one he did with the BBC (below). My favorite Munger quote from this interview is: “If you’re not willing to react with equanimity to a market price decline of 50% two or three times … Read More
(Month 2) – Up 21.7% – TAM $45,000 – Deep Value Stock Portfolio
Today is the end of month two of The Acquirer’s Multiple $45,000 – Deep Value Stock Portfolio – Real Money Game, and the portfolio is up 21.7% since inception. The Deep Value Stock Portfolio – Real Money Game means I’m investing my entire superannuation valued at $45,000 into a real life … Read More
The Stanford Marshmallow Experiment | Why We Continue To Underperform
There’s a very simple reason why investors continue to underperform in the stock market. It’s the inability to ‘stay the course’ with an evidence based strategy that’s been proven to work. The main reason is of course is, delayed gratification/self discipline.
Mohnish Pabrai – Shorting Stocks is Simply a Sucker’s Bet
One of my favorite investors is Mohnish Pabrai. Mohnish Pabrai is the founder and Managing Partner of the Pabrai Investments Funds, the founder and CEO of Dhandho Funds, and the author of The Dhandho Investor and Mosaic – Perspectives on Investing. He’s one of the smartest guys on the planet when it comes … Read More
Howard Marks – The Broad Consensus of Investors is Almost Always Wrong
In September of 2015, Howard Marks wrote a memo where he discussed one of the most important concepts in investing. It’s the paradox that exists because most investors think quality, as opposed to price, is the determinant of whether something’s risky. But high-quality assets can be risky, and low-quality assets can … Read More
Returns to The Acquirer’s Multiple® Screeners and The Best Value Stocks
[View the story “Week Beginning November 28th, 2016” on Storify]
Five Rules To Follow When Picking Stocks
One of my favorite podcasts is Masters in Business hosted by Barry Ritholz, and one of my favorite investors is Patrick O’Shaughnessy. So, it was awesome to listen to a podcast where Ritholz interviewed O’Shaughnessy on his investing strategy. O’Shaughnessy, is a principal at O’Shaughnessy Asset Management and author of “Millennial Money: How Young … Read More
Waiting for the Right Pitch – Seth Klarman – Margin of Safety
One of my favorite investors is Seth Klarman, and one of the best books ever written on investing is, Margin of Safety by Seth Klarman. Such is the popularity of Margin of Safety that at the time of writing there are 22 used copies selling for $838 and 3 new copies selling … Read More
The Importance of Ignoring the Crowd – Western Refining, Inc. (WNR)
One of the things we’re always talking here at The Acquirer’s Multiple is the importance of buying undervalued stocks, and ignoring the crowd, while all around you are looking at you quizzically. One great example of this is a Western Refining, Inc. (NYSE:WNR). Take a look at the share price … Read More
Returns to The Acquirer’s Multiple® Screeners and The Best Value Stocks
[View the story “Week Beginning November 21st, 2016” on Storify]
The Acquirer’s Multiple Deep Value Stock Portfolio up 19.99%
Just a quick update on my TAM Deep Value Stock Portfolio. Today, the portfolio is up 19.99%. As you can see below there’s been particularly strong performances from Bridgepoint Education Inc (NYSE:BPI) and FreightCar America, Inc. (NASDAQ:RAIL) both up 46.27% and 32.30% respectively. Together with American Public Education, Inc. (NASDAQ:APEI) which is up 18.46%. Company TICKER … Read More
The Reason We Underperform – Markets Have Evolved Faster Than Humans
One of my favorite studies on investor behavior was conducted about ten years ago in the journal Psychological Science, conducted by a team of researchers from Carnegie Mellon University. The study highlights, what kept humans safe from Tyrannosaurus Rex is what drives us to under-performance in the stock market today. Here’s an article … Read More
Value Investing Regains Favor in Europe (WSJ)
Good news for value investors it seems with what looks like a return to value investing in Europe. I’ve just finished reading an article by Mike Bird at the Wall Street Journal which indicates a shift back to value investing strategies in the Eurozone.
What Works in Investing – Bill Miller (Legg Mason Capital Management)
One of my favorite podcasts is Barry Ritholtz’s Masters in Business. This week I listened to his interview with legenday investor Bill Miller. Miller is a legendary stock picker who beat the Standard & Poor’s 500 Index for 15 consecutive years while managing a fund at Legg Mason Capital Management. This is a … Read More
Here’s Why Warren Buffett is Buying Airline Stocks
Unless you’ve been living on another planet, you’ll know that CNBC reported Berkshire Hathaway recently released SEC filings showing that the company has taken a stake in three of the four major airline companies — American Airlines, United Continental Holdings and Delta Air Lines. CNBC also reported exclusively that Berkshire also … Read More
Do value investors collectively generate value from their efforts or is it “fool’s gold” – Aswath Damodaran
The best series of posts ever written on whether value investors collectively generate value from their efforts or if it’s just “fool’s gold”, was written by Aswath Damodaran on his blog Musings on Markets. Damodaran holds the Kerschner Family Chair in Finance Education and is Professor of Finance at New York University Stern … Read More
Returns to The Acquirer’s Multiple® Screeners and The Best Value Stocks
[View the story “Week Beginning November 14th, 2016” on Storify]