In this interview with the Insightful Investor, Cliff Asness discusses the challenge of evaluating an investment strategy during difficult periods. He warns against two extremes: abandoning a strategy too quickly due to short-term losses or stubbornly refusing to adapt when necessary. He highlights Warren Buffett’s ability to stick to his … Read More
Buy and Hold Forever? The Truth About Long-Term Investing Strategies
During their recent episode, Taylor, Carlisle, and Ian Cassel discussed Buy and Hold Forever? The Truth About Long-Term Investing Strategies. Here’s an excerpt from the episode: Tobias: It just didn’t sell. Ian: It was always several hundred, you know? Tobias: It was never sell. Jake: [crosstalk] math pretty good though, … Read More
Why Car Dealerships Can Be a Great Business: Insights from Warren Buffett
In this interview with Carol Loomis at Fortune MPW, Warren Buffett explains that a good business earns a high return on tangible assets, whether it grows or not. However, overpaying can turn a good business into a bad investment. He acknowledges his early mistake of buying cheap, underperforming businesses, which … Read More
How Peter Lynch’s Tenbagger Strategy Can Transform Your Portfolio
In his book, One Up On Wall Street, Peter Lynch discusses the power of finding “tenbagger” stocks—investments that grow tenfold. He shares how his first stock, Flying Tiger Airlines, became a major success, funding his graduate studies. Even in weak markets, a single high-performing stock can significantly boost returns. Lynch … Read More
David Einhorn On Memecoins and Market Bubbles
In his latest Q4 2024 Letter, David Einhorn discusses the rise of Fartcoin, a cryptocurrency that surged in value despite lacking intrinsic utility. He compares it to past speculative assets like Dogecoin, which similarly gained value through hype and trading interest. Einhorn argues that cryptocurrencies resemble collectibles such as art … Read More
Joel Greenblatt: The Simplest Way To Think About Business Valuation
In this interview with Barry Ritholz, Joel Greenblatt defines value investing as determining a business’s worth and paying significantly less, rather than relying on traditional metrics like low price-to-book or price-to-sales ratios. He argues that true value investing focuses on future cash flows and intrinsic business value, not stock market … Read More
Warren Buffett’s Take: Investing in Industries vs. Companies
During this interview with Dr. George Athanassakos and Ivey MBA and HBA students, Warren Buffett discusses the challenges of picking individual pharmaceutical companies due to the uncertainty of future competition. He suggests that investing in a group of pharma companies, if reasonably priced, is a better approach since some drugs will … 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, Prem Watsa, Jeremy Grantham, Seth Klarman, … Read More
Howard Marks: Following the Crowd Will Ruin Your Portfolio
During his recent interview at Chicago Booth, Howard Marks explained how human emotions often lead investors to make poor decisions—buying high when markets are thriving and selling low during downturns. He emphasizes the importance of being contrarian, resisting emotional impulses, and sometimes doing the opposite of the crowd. Marks highlights … Read More
Chris Davis: Stock-Picking Strategies for a Disconnected Market
In his recent interview with Barron’s, value investor Chris Davis discusses two key investment questions: the type of businesses to own and the price to pay for them. Viewing investments as business acquisitions, not just stock purchases, Davis highlights evaluating liabilities, undervalued assets, and long-term durability over short-term gains. He … Read More
Howard Marks: Adapt Your Portfolio to the Present, Not the Unknown
In his book, The Most Important Thing, Howard Marks explains that strategic decisions in various fields, such as driving, golfing, or dressing, are influenced by current conditions. Similarly, he argues that investment actions should reflect the present investing climate rather than uncertain future predictions. While many investors attempt to adjust … Read More
Warren Buffett: You Only Need One Opportunity Each Year
During this interview at the 25th Anniversary of The Economic Club of Washington, D.C, Warren Buffett reflects on his early investment in Berkshire Hathaway, describing it as a poor decision based on buying undervalued but mediocre companies, which he likened to “cigar butts” with one puff left. He explains that … Read More
Warren Buffett: Why Market Drops Are Good for Investors
In his 1997 Berskshire Hathaway Chairman’s Letter, Warren Buffett highlights the advantages of stock repurchase programs, particularly when prices are low, as they increase ownership stakes more effectively. He notes that Berkshire Hathaway benefits significantly from long-term shareholders, with 97% retaining their shares year-over-year. Market declines, contrary to popular belief, … Read More
Warren Buffett: Stop Listening To Your Neighbor’s Stock-Tips
In this interview with Fortune Magazine, Warren Buffett advises against speculative investing and emphasizes the importance of understanding the assets you buy. He suggests evaluating investments like a farm, apartment, or company based on their productive potential and expected returns. For a farm, calculate expected crop yields and their value; … Read More
The Risks of Shorting MSTR and Long Bitcoin
During their recent episode, Taylor, Carlisle, and Jason Buck discussed The Risks of Shorting MSTR and Long Bitcoin. Here’s an excerpt from the episode: Jason: Well, the other thing we were talking about before, that I would caution everybody on and that’s what I’ve seen too much of on Twitter, … Read More
Mohnish Pabrai: Aim for a Home Run, Settle for Breaking Even
In this Q&A session with MBA students at Columbia Business School, Mohnish Pabrai discusses the importance of assessing potential risks and outcomes before making investments. He acknowledges that all businesses carry some level of uncertainty and a small probability of failure. Pabrai views investing as a game of probabilities, striving … Read More
VALUE: After Hours (S06 E47): Jason C. Buck On Volatility, Options, Crises, Crashes, Value And Reasons To Be Optimistic
In their latest episode of the VALUE: After Hours Podcast, Tobias Carlisle, Jake Taylor, and Jason Buck discuss: The Risks of Shorting MSTR and Long Bitcoin Why Value Investing Struggles in Manias From FANG to BAATMANN: Mag8 The Future of AI Assistants: Automation, Agency Bots, and Finance Implications The Tyranny … Read More
Mohnish Pabrai: Which Sectors Investors Should Avoid
In this Q&A session at Boston College and Harvard Business School, Mohnish Pabrai discusses the importance of understanding one’s circle of competence when evaluating businesses. He advises focusing on industries and companies that align with personal knowledge and avoiding sectors like biotech, blockchain, or U.S. healthcare, which may involve complexities or … Read More