During Saturday’s annual Berkshire Hathaway pilgrimage, Warren Buffett and Charlie Munger once again challenged the value of hedge funds and their managers. During the meeting Buffett said, “The huge money [in hedge funds] is in selling people the idea that you can do something magical for them”. Munger added, “The investing … Read More
Returns to The Acquirer’s Multiple® Screeners and The Best Value Stocks
[View the story “Week Beginning May 8th, 2017” on Storify]
Jason Zweig: Investors Expectations Are So Far-Fetched They Border On Fantasy
One of our favorite columnists here at The Acquirer’s Multiple is Jason Zweig. Zweig recently wrote a great article on investor expectations saying, “[Investors] expectations are so far-fetched they border on fantasy”. He also says, “many investors believe in magic”, and “investors check the value of their financial assets much … Read More
Third Point LLC – This Environment Is Undoubtedly Better For Active Investing. Here’s Why
One of our favorite investors here at The Acquirer’s Multiple is Dan Loeb at Third Point LLC. Loeb founded Third Point, the asset management firm headquartered in New York, in 1995. Third Point employs an event-driven, value-oriented investment style. One of the best resources for investors are the Third Point … Read More
Value Investing Nuggets – Graham & Doddsville Newsletter – Winter 2017
One of the best resources for value investors are the Graham & Doddsville Newsletters. The G&D newsletter is an investment publication from Columbia Business School (CBS) full of value investing nuggets and is co-sponsored by the Heilbrunn Center for Graham & Dodd Investing and the Columbia Student Investment Management Association … Read More
Damodaran Credits Apple For Ignoring The ‘Advice’ From Wall Street Analysts
One of the financial academics that we follow closely here at The Acquirer’s Multiple is Aswath Damodaran. Damodaran was recently interviewed by CNBC about Apple’s current cash hoard and credited the company with ignoring the ‘advice’ from Wall Street analysts. It’s a must read for all investors. Here’s an excerpt from … Read More
Bruce Berkowitz – ETF’s Occasionally Swing To Illogical Extremes – We Prefer Unpopular, Underpriced, and Underweighted
Bruce Berkowitz recently released The Fairholme Funds 2016 Annual Report in which he discusses the current trend towards ETF investing and he provides the following warning for investors: Exchange-traded index funds (“ETFs”) are all the rage these days for their straightforward, low-cost replication of broad indexes. While it is a … Read More
Bridgepoint Education Soars 22% – Total Gain 124% To Date
Bridgepoint Education (NYSE:BPI) (Bridgepoint) reported its Q1 2017 results yesterday and the stock price soared 22%. Bridgepoint is a provider of post-secondary education services and owns two academic institutions – Ashford University and University of the Rockies. This is a stock that I added to my Acquirer’s Multiple – Deep … Read More
Shiller vs Siegel: The Bull & The Bear On Current Market Valuations
Two Finance Professors that we follow closely here at The Acquirer’s Multiple are Yale Professor of Economics, Robert Shiller and Wharton Professor of Finance, Jeremy Siegel. Both were interviewed recently by CNBC regarding their outlook on current market valuations. Shiller says, “Current market conditions make the market look dangerous”. While Siegel says, … Read More
Tweedy, Browne Co. – Passive Strategies Are Cyclical – Leading To A Comeuppance For Index Funds
One of the best resources for value investors are the newsletters at Value Investor Insight (VII), they’re full of great interviews with value investing gurus. VII recently interviewed the team at Tweedy, Browne Co. about their value investing strategy, how to find potential opportunities, and their thoughts on the impact of … Read More
James Montier – This Is The Time To Sit There And Do A Winnie the Pooh. Here’s Why.
One of the firms we like to watch closely is Boston-based asset manager GMO, and one member of its asset management team, James Montier. Montier recently did an interview with Finanz und Wirtschaft (Finance and Economic) in which he discusses the current over-valuation in U.S. equity markets saying, “Equities are currently … Read More
Ray Dalio – Markets Teach You Humility And They Teach You What Works
One of our favorite investors here at The Acquirer’s Multiple is Ray Dalio. Dalio runs Bridgewater Associates and is known for his culture of independent free thinking, meritocracy, and radical transparency. He recently did a great interview with Charles Duhigg at The New York Times. In this interview Dalio provides … Read More
1300 Miles From Wall Street – Warren Buffett, Todd Combs, and Ted Weschler
Warren Buffet, Todd Combs and Ted Weschler of Berkshire Hathaway recently did an interview in Omaha, 1300 Miles from the hustle and bustle of Wall Street. In this interview Buffett discusses why he and Munger chose Combs and Weschler for their positions at Berkshire. The three also discuss what it’s like … Read More
Howard Marks – The Truth About Investing
Oaktree Chairman Howard Marks did a great presentation earlier this month for the CFA Society in India called – The Truth About Investing. While the presentation was fantastic, the audio quality is not 100%, nevertheless it’s a must watch for all investors. Most interesting was the awesome slideshow that Marks used … Read More
Returns to The Acquirer’s Multiple® Screeners and The Best Value Stocks
[View the story “Week Beginning May 1st, 2017” on Storify]
(Month 7) – Up 10.02% – Bridgepoint Edu. up 88% – TAM Deep Value Stock Portfolio
Today is the end of month seven of The Acquirer’s Multiple $45,000 – Deep Value Stock Portfolio – Real Money Game, and the portfolio is up 10.02% since inception, compared to 10.49% for the comparative Russell 3000 (INDEXRUSSELL:RUA). The Deep Value Stock Portfolio – Real Money Game means I’m investing my entire superannuation … Read More
Seth Klarman – ETF’s Provide Value Investors With A Distinct Advantage. Here’s Why.
One of our favorite investors at The Acquirer’s Multiple – Stock Screener is Seth Klarman. Back in February this year, Klarman released The Baupost Group’s 2016 year end letter in which he discusses the impact of ETF’s on the hedge fund industry and why ETF’s present long-term value investors with a … Read More
Robert (Bob) Olstein – The Advantages Of Active Investing Over Passive Investing
One of the investors we follow closely at The Acquirer’s Multiple – Stock Screener is Robert Olstein. Olstein is Chairman and Chief Investment Officer of Olstein Capital Management and serves as Head Portfolio Manager of the Olstein All Cap Value Fund and Co-Portfolio Manager of the Olstein Strategic Opportunities Fund. … Read More
Bill Miller – To get different results than others, one needs to invest differently
One of our favorite investors here at The Acquirer’s Multiple – Stock Screener is Bill Miller. Miller is the founder of Miller Value Partners, and currently serves as the Chairman and Chief Investment Officer, and the Portfolio Manager for Opportunity Equity and Income Opportunity Strategy. Prior to Miller Value Partners, Bill … Read More
Chuck Akre: How To Identify Compounding Machines | Talks at Google
One of our favorite investors here at The Acquirer’s Multiple – Stock Screener is Chuck Akre. Akre is the Managing Member, Chief Executive Officer and Chief Investment Officer at Akre Capital Management. Akre has been in the securities business since 1968. He founded Akre Capital Management in 1989 and relocated … Read More