The One Thing All Value Investors Can Do To Get You Halfway Home – Irving Kahn

Johnny HopkinsInvesting Strategy Comments

One of our favorite value investors here at The Acquirer’s Multiple is Irving Kahn. Kahn was the Chairman at Kahn Brothers Group which he founded in 1978. He began his career in the value investing business shortly before the stock market crash of 1929, and, in the 1930s, he served as Benjamin Graham’s teaching assistant at Columbia Business School. The … Read More

The 13 Commandments of Successful Value Investing – The Art of Value Investing

Johnny HopkinsInvesting Strategy Comments

One of the best books ever written on value investing is, The Art of Value Investing, by John Heins and Whitney Tilson. Bill Ackman of Pershing Square Capital Management said the following about The Art of Value Investing: “I learned the investment business largely from the work and thinking of other investors. The Art of Value Investing is a thoughtfully organized compilation of some … Read More

Just Why Do Today’s Worst Performing Stocks Historically Outperform

Johnny HopkinsInvesting Strategy Comments

One of my favorite investing books is A Mathematician Plays The Stockmarket by best selling author – John Allen Paulos. Paulos demonstrates what the tools of mathematics can teach us about the machinations of the stock market. One of my favorite parts of the book focuses on regression to the mean in the stock market, and why today’s worst performing stocks … Read More

Has The Price-To-Book Metric Become Redundant – O’Shaughnessy Asset Management

Johnny HopkinsInvesting Strategy Comments

Just finished reading a great paper by O’Shaughnessy Asset Management that discusses whether the traditional Price-to-Book metric has become redundant because of the increase in shareholder transactions, primarily through the increase in share repurchases. Here’s an excerpt from that paper: Value has broadly been accepted as an investing style and, historically, portfolios formed on cheap valuations have outperformed expensive portfolios. But value comes … Read More

Investors Shouldn’t Compare Their Performance To Others – Here’s Why

Johnny HopkinsInvesting Strategy Comments

Great article by Ian Cassell at MicroCapClub titled, Don’t Compare Yourself To Others. Ian covers two important issues that all investors can relate to. The first is how to sit still while others are making money, because you can’t find stocks that fit your strategy. The second is how to live through a drawdown when your portfolio is underperforming. Here’s … Read More

5 Things to Consider Before Buying Today’s Hot Investment

Johnny HopkinsInvesting Strategy Comments

The New York Times provides 5 great tips for investors that are considering buying today’s hottest stocks. Here’s and excerpt from that article: We are again nearing what appear to be all-time highs in the stock market, and when that happens, people tend to say and do strange things. This time around, Amazon, Apple, Google (in the form of its … Read More

A Very Simple Formula For Figuring Out How Many Stocks To Hold

Johnny HopkinsInvesting Strategy Comments

Here at the Acquirer’s Multiple we believe your equally weighted portfolio should consist of 20-30 stocks generated from our Deep Value Stock Screens. In general terms, holding more stocks leads to greater diversification, and lower volatility, but is harder to manage and requires more purchases. Fewer stocks reduces the number of purchases, but leads to great volatility, and magnifies the … Read More

Nice Portfolio, Shame About The Human Running It

Johnny HopkinsInvesting Strategy Comments

James Saft at the Globe and Mail illustrates how an investor’s behaviour can be one of the biggest risks facing a successful investing strategy. Here’s an excerpt from that article: Investors hate two things above all else: losing money and missing out. The tension between the two, the fear of loss and the fear of doing less well than one’s neighbour, … Read More

One of The Best Investing Tweets of 2017. So Far!

Johnny HopkinsInvesting Strategy Comments

One of the best blogs in our Top 50 Investing Blogs 2017 is Morgan Housel at The Collaborative Fund Blog, and one of the best investing tweets for 2017 is this one which encapsulates everything you need to know as an investor: Everything I’ve learned about investing points to the idea that simplicity is underrated and always will be because … Read More