In his latest Q2 2022 Letter, Josh Wolfe discusses REdiscovering the meaning of price. Here’s an excerpt from the letter: Upside booms and downside busts share a common pattern: a diversity breakdown. Liquid and stable markets are formed by investors with diverse, diffuse and different dispositions, sentiments, styles, expectations, degrees … Read More
Howard Marks: The Investor’s Dichotomy
In his recent interview with the Acquired Podcast, Howard Marks discussed the investor’s dichotomy. Here’s an excerpt from the interview: Marks: You know, this points out a dichotomy in investing, or maybe a conundrum of which there are so many. Because what we just talked about was it’s important to … Read More
Bull, Bear, And Benign Return Paths From Here
In their latest episode of the VALUE: After Hours Podcast, Brewster, Taylor, and Carlisle discuss Bull, Bear, And Benign Return Paths From Here. Here’s an excerpt from the episode: Tobias: This is a market-level analysis from Man Group, Man Institute, I think is their research arm or something like that. … Read More
Vitaliy Katsenelson: Great Value Investing Requires Thoughtful Arrogance
In his recent article Vitaliy Katsenelson explains why great value investing requires thoughtful arrogance. Here’s an excerpt from the article: As the great American philosopher Mike Tyson said, “Everyone has a plan until they get punched in the mouth.” Theory gives you the game plan (buy more when the stock … Read More
Sanjay Bakshi: Sometimes The Best Investment Decisions End In Bad Outcomes
In his recent interview with Building Wealth With Rajeev, Professor Sanjay Bakshi discusses how sometimes the best investment decisions end in bad outcomes. Here’s an excerpt from the interview: So you have to be able to distinguish between a good process and outcomes. You will get bad outcomes even if … Read More
Seth Klarman – Top 10 Holdings – Q2 2022 – New Buys WBD, EDU, LSXMK, LSXMA, AMZN
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 (S04 E030): The Long Way; $SPY Bull, Bear, Basic and Benign Return Paths
In their latest episode of the VALUE: After Hours Podcast, Bill Brewster, Jake Taylor, and Tobias Carlisle discuss: Bull, Bear, And Benign Return Paths From Here 3 Different Strategies For Completing The 1968 Golden Globe Race You’ve Got To Re-Underwrite What You Own How Long Should You Look Back To … Read More
The Worst Performing Stocks – Last 12 Months – S&P500 @Ycharts
Over the past twelve months a number of stocks have performed worse than all others in the S&P500, and some of the biggest names are included. Here is a list of the worst performers: Symbol Name Performance Last 12 Months PYPL PayPal Holdings Inc -66.12% MRNA Moderna Inc -65.85% ALGN … Read More
10 Big Named Companies Near 52 Week Highs @Ycharts
Over the past twelve months a number of big named companies have been near or above their 52 week high price. Each week we’ll take a look at some of the biggest names currently close to their 52 week highs: 1. PepsiCo Inc (PEP): Current Price $175.00/52 Week High Price … Read More
10 Big Named Companies Near 52 Week Lows @Ycharts
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: 1. Abbott Laboratories (ABT): Current Price $105.95/52 Week Low Price … Read More
Stock In Focus – TAM Stock Screener – Alphabet Inc (GOOGL)
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: Alphabet Inc (GOOGL) Alphabet is a holding company. Internet media giant … Read More
This Week’s Best Value Investing News, Podcasts, Interviews (8/26/2022)
This week’s best investing news: How the Drivers of Market Returns Evolved (Jamie Catherwood) The Size Factor (Verdad) Buffett’s Berkshire Hathaway Seeks to Buy as Much as 50% of Occidental (Yahoo) Edward Chancellor On What History Can Teach Us About The True Cost Of Easy Money (Felder) Hedge-Fund Pioneer Julian Robertson Jr. Dies … Read More
Warren Buffett’s Oil Bet
In their latest episode of the VALUE: After Hours Podcast, Brewster, Taylor, and Carlisle discuss Warren Buffett’s Oil Bet. Here’s an excerpt from the episode: Tobias: Do you think Buffett has a view on oil? Does he need to have a view on oil to be buying OXY where it … Read More
This Acquirers Multiple Stock Appearing In Dalio, Watsa, 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
10 Micro-Cap Companies That Have Seriously Outperformed Last 12 Months @Ycharts
Although they don’t seem to get the same attention as their larger market counterparts, over the past twelve months ten micro-cap companies have seriously outperformed. All of these companies are in the $50M – $300M range. Here’s the ten companies: 1. Sensus Healthcare Inc (SRTS) (Medical Devices) Up 308.6% 2. … Read More
Chris Davis: The Insanity Of Market Panics
In his latest presentation titled – The Mindset Required to Navigate Crises and Uncertainty, Chris Davis provides a great illustration of the insanity of market panics. Here’s an excerpt from the presentation: Davis: Let’s think of the really bad thing. You know, the thing your clients may be terrified of. … Read More
Choose One Asset To Hold For The Next 246 Years
In their latest episode of the VALUE: After Hours Podcast, Brewster, Taylor, and Carlisle discuss Choose One Asset To Hold For The Next 246 Years. Here’s an excerpt from the episode: Bill: That’s right. Do you want to debate that thing that you sent around, the 250-year investment? Jake: Yeah, … Read More
10 Big Named Companies That Have Seriously Outperformed Last 12 Months @Ycharts
Over the past twelve months ten big named companies have seriously outperformed. It’s no surprise that six are from the Energy sector, one from Utilities, one from Healthcare, one from Industrials, and one from Consumer Cyclical. Here’s the ten companies: 1. Equinor ASA (EQNR) (Energy Sector) Up 105.7% 2. ConocoPhillips … Read More
Jim Chanos: Julian Robertson Was The Portfolio Manager’s Portfolio Manager
In his recent interview with CNBC, Jim Chanos explains why Julian Robertson was the portfolio manager’s portfolio manager. Here’s an excerpt from the interview: Chanos: I had the pleasure to run money, run short accounts in the ’90s for not only George Soros and Michael Steinhardt but Julian Robertson, and … 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