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VALUE: After Hours (S07 E37): Reproducible Success vs. Luck-Driven WinsDuring their recent episode, Taylor, Carlisle, and Luca Dell’Anna discussed Reproducible Success vs. Luck-Driven Wins. Here’s an excerpt from the episode: Tobias: That’s what’s …
What Howard Marks Learned from a Pension Fund’s Approach to RiskIn his Memo – A Look Under the Hood, Howard Marks reflects on the experience of sitting in with a state pension board and its consultant, describing it as “very informative for …
Energy and Financials Lead This Week’s Deep Value ScreenEnergy and Financials once again dominate the deep-value landscape in this week’s screen. On the Financials side, Synchrony Financial (SYF) leads with a razor-thin Acquirer’s Mu…- VALUE: After Hours (S07 E37): Irreversible Losses Absorb Future GainsDuring their recent episode, Taylor, Carlisle, and Luca Dell’Anna discussed Irreversible Losses Absorb Future Gains. Here’s an excerpt from the episode: However, if you crunch t…
Pzena: Why Small Caps Are Poised for a Multi-Year ComebackIn their latest Insight – Extreme Valuations & Durable Fundamentals: The Case for Small Caps Globally, Pzena Investment Management argues that the massive concentration of retur…
Tesla, Inc. (TSLA) Q3 2025: Revenue Up 12%, Free Cash Flow Hits New RecordTesla’s Q3 2025 update highlights “record vehicle deliveries globally” and “record energy storage deployments,” which together drove “both record revenue and free cash flow gene…- VALUE: After Hours (S07 E37): Performance Is Subordinate to SurvivalDuring their recent episode, Taylor, Carlisle, and Luca Dell’Anna discussed Performance Is Subordinate to Survival. Here’s an excerpt from the episode: And from him, I’ve learne…
Cliff Asness on Behavioral Investing: “Markets Are Voting Mechanisms”In the Capitalism and Freedom Podcast, Cliff Asness traces a lifetime of market thinking shaped by both data and humility. “My entire career was in some sense a lucky break,” he…
Guy Spier (Aquamarine Zurich AG) – Q3 2025 13F Portfolio ReviewIn the most recent 13F filing, Guy Spier’s Aquamarine Zurich AG reported a portfolio valued at $317.37 million, with the top five holdings accounting for 77.64 % of total assets…- VALUE: After Hours (S07 E37): Winning Long-Term Games and Ergodicity with Author Luca Dell’AnnaDuring their recent episode, Taylor, Carlisle, and Luca Dell’Anna discussed: Performance Is Subordinate to Survival Irreversible Losses Absorb Future Gains Reproducible Success …
Apple Inc. (AAPL): Our Calculation of Intrinsic ValueEach week we run a DCF (Discounted Cash Flow) model on a company from our watchlist. This week’s pick: Apple Inc. (AAPL). Profile Apple Inc. designs, manufactures, and markets s…
Weekly Investing Roundup – News, Podcasts, Interviews (10/24/2025)This week’s best investing news: Howard Marks: How I Mastered the Markets (Master Investor) Jim Chanos – Credit Markets Are Partying ‘Like It’s 1999,’ (Bloomberg) Bill Ackman: I…
Why Abercrombie & Fitch (ANF) Could Be One of the Market’s Deepest Value PlaysAs 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. T…
VALUE: After Hours (S07 E36): Engineers vs. Lawyers: Why China Builds and America DebatesDuring their recent episode, Taylor, Carlisle, and Colin King discussed Engineers vs. Lawyers: Why China Builds and America Debates. Here’s an excerpt from the episode: Jake: I …
David Einhorn: Investors Are Confusing Innovation With Investment ValueIn his Q3 2025 Greenlight Capital investor letter, Einhorn wrote that the funds “returned -3.6% in the third quarter of 2025, net of fees and expenses, compared to 8.1% for the …
David Tepper Scales Back China Exposure and Sells Out of Key Tech GiantsIn the most recent 13F, David Tepper’s Appaloosa LP made a series of significant reductions across its equity portfolio. Known for his tactical macro positioning and opportunist…- VALUE: After Hours (S07 E36): Why the World Needs a Little Bit of Crazy: Entrepreneurs, Elon Musk, and CreationDuring their recent episode, Taylor, Carlisle, and Colin King discussed Why the World Needs a Little Bit of Crazy: Entrepreneurs, Elon Musk, and Creation. Here’s an excerpt from…
Bill Ackman: The Power Of Superintelligence Is Worth A Meaningful InvestmentBill Ackman’s remarks on CNBC offered a rare combination of pragmatism and optimism about America’s economic direction, government policy, and the transformative power of techno…