In his 1990 Berkshire Hathaway Letter, Warren Buffett explained why declining prices for businesses benefit them. Here’s an excerpt from the letter: Investors who expect to be ongoing buyers of investments throughout their lifetimes should adopt a similar attitude toward market fluctuations; instead many illogically become euphoric when stock prices … Read More
One Stock Superinvestors Are Selling
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
Factor Timing Is Very Very Difficult
During their latest episode of the VALUE: After Hours Podcast, Carbonneau, Forehand, Taylor, and Carlisle discuss Factor Timing Is Very Very Difficult. Here’s an excerpt from the episode: Tobias: I don’t know if you can factor time. I don’t think– it’s almost like factor timing. I don’t think it works, … Read More
Cliff Asness: No-One Would Call Warren Buffett A Quant
During his recent interview with David Rubenstein, Cliff Asness discusses why doesn’t anyone call Warren Buffett a quant. Here’s an excerpt from the interview: Asness: Yeah, it’s related, but it is not the same. And this has caused no end of confusion. What quants call value? And I say quants. … Read More
GMO: Investors Should Consider Shorting Junk Stocks
In their latest Q1 2023 Letter, GMO explained why investors should consider shorting junk stocks. Here’s an excerpt from the letter: Junk stocks not only underperform, but they do so with higher volatility and particularly struggle when times get tough. Hence, Junk companies are interesting candidates for shorting in general … Read More
One Stock Superinvestors Are Buying
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
What Impact Will AI Have On Investing?
During their latest episode of the VALUE: After Hours Podcast, Carbonneau, Forehand, Taylor, and Carlisle discuss What Impact Will AI Have On Investing? Here’s an excerpt from the episode: Jack: Yeah. No, this is part of why I became a quant investor, because I’m so bad at trying to analyze … Read More
Mohnish Pabrai: Another Valuable Lesson I Learned From Warren And Charlie
During this Q&A session with the students at JNV Lucknow, Mohnish Pabrai discussed another valuable lesson he learned from Warren Buffett and Charlie Munger. Here’s an excerpt from the session: Pabrai: I think that my view on Dakshana is that it has worked a lot better than I ever thought it … Read More
Howard Marks: There’s Only One Way To Forecast
During this interview at the 2023 Value Investing Conference, Howard Marks discussed the one way to forecast. Here’s an excerpt from the interview: Marks: One of the most insightful questions that I get, and I’ve gotten it a few times since writing that memo, is you make investment decisions with … Read More
Michael Burry – Top 10 Holdings – Latest 13F
One 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 (S05 E21): Justin Carbonneau And Jack Forehand On What Factors Work In The Market
In their latest episode of the VALUE: After Hours Podcast, Justin Carbonneau, Jack Forehand, Jake Taylor, and Tobias Carlisle discuss: What Impact Will AI Have On Investing? Why Factor Timing is So Hard Disciplined Rationality – Warren Buffett’s Greatest Attribute Investing Lessons From Tunicates 5 Stocks Are Driving The Entire … Read More
This Week’s 10 Big Named Companies Near 52 Week Lows
Over the past twelve months a number of big named companies have been near or below their 52 week low price. Each week we’ll take a look at some of the biggest names currently close to their 52 week lows: Symbol Name Price $ 52 Week Low $ JNJ Johnson … Read More
This Week’s 10 Worst Performing Mega-Cap Stocks Last 12 Months
Over the past twelve months ten Mega-Cap stocks have underperformed all others. Mega-Caps are defined by $200 Billion Market Cap or more. Here’s this week’s top 10 worst performing Mega-Caps in the last twelve months: Symbol Name 1 Year Price Returns (Daily) PFE Pfizer Inc -31.35% BAC Bank of America … Read More
5 Book Recommendations From Ray Dalio
Ray Dalio, the billionaire investor and founder of Bridgewater Associates, has written a number of books including “Principles: Life and Work” which outlines his principles for success in life and business. It’s a highly regarded book and offers valuable insights into Dalio’s unique approach to decision-making and problem-solving. In addition … Read More
This Week’s Best Value Investing News, Podcasts, Interviews (6/2/2023)
This week’s best investing news: Howard Marks – 2023 Value Investing Conference | Keynote Speaker (Ivey) A History of Debt Limits & Defaults (Jamie Catherwood) Charlie Munger on U.S-China tensions: Both sides are equally ‘guilty of being stupid’ (CNBC) Markel Omaha Brunch 2023 (Markel) Berkshire Owns About 25% of Occidental … Read More
Stock In Focus – TAM Stock Screener – Synchrony Financial (SYF)
As part of our ongoing series here at The Acquirer’s Multiple, we provide this feature article titled ‘Stock in Focus‘ where we focus on one of the stocks from our Stock Screeners. One of the cheapest stocks in our Stock Screeners is: Synchrony Financial (SYF) Synchrony Financial, originally a spinoff of GE Capital’s … Read More
The Past Prosperity of Profit Margins
During their latest episode of the VALUE: After Hours Podcast, Weniger, Taylor, and Carlisle discuss The Past Prosperity of Profit Margins. Here’s an excerpt from the episode: Tobias: One of the kind of striking things over the last decade or so has been the persistence of profit margins. You can … Read More
Guy Spier: Warren Buffett’s Instincts Keep Him Out Of Trouble
During his recent interview with Julia La Roche, Guy Spier explained how Warren Buffett’s instincts keep him out of trouble. Here’s an excerpt from the interview: Spier: It was a question at this year’s Berkshire meeting where somebody asked, apparently Berkshire Hathaway got to owning about four or five billion … Read More
Cliff Asness: Equities Are A Scary Place For Investors
During his recent interview with Bloomberg Wealth, Cliff Asness explained why equities are a scary place for investors. Here’s an excerpt from the interview: Asness: OK, first I got to give you the disclaimer. I am the quant geek long and short, so I don’t pretend to be a great … Read More
This Acquirers Multiple Stock Appearing In Buffett, Burry, Pzena Portfolios
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