In his 2023 Berkshire Hathaway Annual Letter, Warren Buffett discusses Berkshire Hathaway’s long-term investments in Coca-Cola and American Express, which have been held for over two decades. While these positions are smaller compared to Apple, they remain significant assets. Both companies, founded in the 19th century, overcame past mismanagement and … 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) -58.22% Humana (HUM) -42.30% Albemarle (ALB) -40.20% Moderna (MRNA) -37.28% Paycom Soft (PAYC) -35.17% Intel … 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, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, … Read More
The Case Against Investing in Metal-Based Industries
During their recent episode, Taylor, Carlisle, and Doug Ott discussed The Case Against Investing in Metal-Based Industries. Here’s an excerpt from the episode: Jake: Toby, do you remember who was– I forget who it was, but they wouldn’t invest in any company that produced anything out of metal, because that … Read More
Bill Ackman: How Ignoring My Own Rules Nearly Destroyed My Firm
During this interview with Lex Friedman, Bill Ackman recounts borrowing $300 million from JP Morgan during a financial crisis in his firm to buy stock in his public company, preventing an activist takeover. This decision, coupled with resolving his divorce and settling litigation, marked a turning point for his firm. … Read More
Mohnish Pabrai: How to Profit from Dhandho Arbitrage Spreads
In his book – The Dhandho Investor, Mohnish Pabrai explains that Dhandho arbitrage spreads, though temporary, offer valuable investment opportunities. The key question is how long these spreads will last and how wide their moat is. Quoting Warren Buffett, Pabrai emphasizes the importance of determining a company’s competitive advantage and … 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
The Three-Body Problem: Chaos Theory in Investing and the Economy
During their recent episode, Taylor, Carlisle, and Doug Ott discussed The Three-Body Problem: Chaos Theory in Investing and the Economy. Here’s an excerpt from the episode: Jake: Okay. Cool. Well, we’re not going to talk about that at all. [Tobias laughs] We’re talking about the real-world mind-bending physics problem that’s … Read More
Joel Greenblatt: How Warren Buffett Taught Me To Pay Up For Good Businesses
In this interview with The Investor’s Podcast, Joel Greenblatt reflects on his investment approach, explaining how he initially sought both cheap and good businesses, but struggled to understand the value of paying more for quality. He discusses his decision to downsize his business and return outside capital when he couldn’t … Read More
Jim Chanos: Why Good Short Sellers Are Born, Not Made
In his interview in the book – Efficiently Inefficient, Jim Chanos reflects on the challenges of short selling, emphasizing that it’s not simply the inverse of going long. He highlights the behavioral difficulty of staying short in a market that overwhelmingly promotes positive news about stocks, making it emotionally taxing … 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
Putting 100% Of Your Net Worth Into One Position
During their recent episode, Taylor, Carlisle, and Doug Ott discussed Putting 100% Of Your Net Worth Into One Position. Here’s an excerpt from the episode: Tobias: What sort of concentration? How many names? Doug: So, I think we’re about 18, 19 now, which is a little higher than average. But … Read More
Warren Buffett: The Dangers of “I’m Rich, Therefore I’m Right!”
During the 2003 Berkshire Hathaway Annual Meeting, Warren Buffett reflects on the responsibility of public figures, particularly wealthy individuals, when sharing opinions on public policy. He acknowledges his own involvement in issues like campaign finance reform and taxes but tries to limit his public commentary to avoid the perception of … Read More
Terry Smith: These Are The Best Types Of Companies To Own
During his recent interview with The Financial Planner Life Podcast, Terry Smith discusses his investment strategy, which focuses on three key areas: consumer products, medical devices, and technology. He highlights the importance of everyday consumer goods, medical devices, and broad technology sectors, companies like Apple, Visa, and Microsoft. Smith explains … Read More
David Abrams – Top 10 Holdings – Latest 13F
Oe 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 E35): Doug Ott on Arthur J Gallagher (AJG) Mettler-Toledo (MTD) Pool Corp (Pool)
In their latest episode of the VALUE: After Hours Podcast, Tobias Carlisle, Jake Taylor, and Doug Ott discuss: Putting 100% Of Your Net Worth Into One Position The Three-Body Problem: Chaos Theory in Investing and the Economy The Case Against Investing in Metal-Based Industries How Forced Divestitures and FTC Actions Spark Investment … Read More
Eli Lilly and Co (LLY) 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, Eli Lilly and Co (LLY). Profile Eli Lilly is … Read More
This Week’s Best Value Investing News, Podcasts, Interviews (09/27/2024)
This week’s best investing news: Top Takeaways from Oaktree’s Quarterly Letters – September 2024 Edition (OakTree) AQR’s Cliff Asness on Stocks Value Gap, Nvidia, ‘Inefficient’ Markets (Bloomberg) Guy Spier – Outperforming The S&P500, Building Wealth & Managing Risk (Guy Spier) The Great Rotation (Part 2) (Verdad) Calgary Herald interview with … Read More
Philip Morris International Inc (PM): 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: Philip Morris International Inc (PM) Created from the international operations of … Read More
The Hidden Danger of Weekly Data in Long-Term Investing Strategies
During their recent episode, Taylor, Carlisle, and Alex Morris discussed The Hidden Danger of Weekly Data in Long-Term Investing Strategies. Here’s an excerpt from the episode: Alex: One thing that came to mind for me, as you’re saying this is and I’m thinking about the hibernation comment, and also, this … Read More