Michael Mauboussin: ‘Procyclicality’- How It Drives Market Cycles To Extremes

Johnny HopkinsInvesting Research, Michael MauboussinLeave a Comment

Michael Mauboussin recently released a great paper called – Procyclicality And Its Extremes in which he discusses ‘Procyclicality’ and how it drives market cycles to extremes. He also provides indicators of procyclicality and methods for coping with, and profiting from it. Here is an excerpt from that paper: In economics, procyclical variables move in the same direction as the overall economy: … Read More

Michael Mauboussin: The Babe Ruth Effect Generates More Successful Returns

Johnny HopkinsInvesting Strategy, Michael Mauboussin1 Comment

Here’s a great lesson from Michael Mauboussin’s book – More Than You Know. Mauboussin highlights the point that when it comes to successful investing it’s not about the frequency of correctness that matters in stock picking, it’s the magnitude of correctness that matters. This is called the Babe Ruth Effect. Here’s an excerpt from the book: Batting with the Babe Hang around a brokerage … Read More

Michael Mauboussin: What Separates Great Investors From Average Investors

Johnny HopkinsMichael MauboussinLeave a Comment

Here’s a great interview with Michael Mauboussin in the latest Graham & Doddsville newsletter in which he discusses his insights on his value investing strategy and process. Also included in the interview are his thoughts on what separates great investors from average investors and how much of being a successful value investor is built into ones natural personality. Here is an … Read More

Michael Mauboussin: What Is Most Misunderstood About Value Investing Today

Johnny HopkinsMichael MauboussinLeave a Comment

Here’s a great interview at Forbes in which Kevin Harris from SumZero chats with Michael Mauboussin about value investing, active management, and the state of the market. Part of the interview includes Mauboussin’s thoughts on what is most misunderstood about the discipline of value investing today? Here’s an excerpt from that interview: Michael Mauboussin is currently the Director of Research … Read More

Michael Mauboussin – Here Is The Best Way To Compare Investment Opportunities

Johnny HopkinsMichael MauboussinLeave a Comment

One of the problems that we face as investors is making comparisons between investment opportunities. Similarly, company management has to make comparisons between strategic merger and acquisition opportunities. So the question is, what is the best way to do this? One answer can be found in Michael Mauboussin’s recent paper titled – How Well Do You Compare. The paper highlights how … Read More

Michael Mauboussin – Share Buybacks Are A Better Alternative For Shareholders Than Dividends

Johnny HopkinsMichael MauboussinLeave a Comment

There is much debate about whether companies should increase shareholder value by repurchasing their shares or returning excess cash to shareholders by way of dividends. One of the best papers written on the subject is Share Repurchase From All Angles, by Michael Mauboussin where he makes the case for share buy-backs over dividends as the best method of adding value for … Read More

The Definitive Guide On Identifying Companies With An Economic Moat – Warren Buffett

Johnny HopkinsMichael Mauboussin, Warren BuffettLeave a Comment

With so much talk about a company’s economic moat it’s important to recognize how to clearly identify a moat, understand how wide it is, and figure out how long it will remain in place. One of the best papers ever written on the subject is Michael Mauboussin’s – Measuring the Moat, Assessing the Magnitude and Sustainability of Value Creation. The paper … Read More

Michael Mauboussin: The Incredible Shrinking Universe of Stocks – The Causes and Consequences of Fewer U.S. Equities

Johnny HopkinsMichael MauboussinLeave a Comment

Michael Mauboussin and the team at Credit Suisse Global Financial Strategies recently published a report on The Incredible Shrinking Universe of Stocks – The Causes and Consequences of Fewer U.S. Equities. It’s a fascinating read. The report states: There has been a sharp fall in the number of listed stocks in the U.S. since 1996. While listings fell by roughly 50 percent … Read More

Michael Mauboussin – Common Mistakes Even Smart Investors Make

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(Image Source, YouTube.com, [Accessed 5 Mar, 2017]) One of our favorite investors here at The Acquirer’s Multiple – Stock Screener is Michael Mauboussin. Mauboussin is the Managing Director and Head of Global Financial Strategies at Credit Suisse. He’s also written three books, he’s been an adjunct professor of finance at Columbia Business School since 1993, and received the Dean’s Award for Teaching Excellence in … Read More

Michael Mauboussin – What Did Abe Lincoln & Baboons Teach Us About Investing?

Johnny HopkinsMichael MauboussinLeave a Comment

One of our favorite investors here at The Acquirer’s Multiple is Michael Mauboussin. Mauboussin is the Managing Director and Head of Global Financial Strategies at Credit Suisse. He’s also written three books, he’s been an adjunct professor of finance at Columbia Business School since 1993, and received the Dean’s Award for Teaching Excellence in 2009. One of my favorite Mauboussin talks was one titled, … Read More

The Bible On Capital Allocation plus His Checklist – Michael Mauboussin

Johnny HopkinsMichael Mauboussin, ResourcesLeave a Comment

There are a number of metrics that we use here at The Acquirer’s Multiple to establish a company’s valuation, quality and shareholder returns. One of my favorites, provided by our Deep Value Stock Screener, is Shareholder Yield. Shareholder Yield tells us what’s being returned to shareholders through a combination of dividends and share buybacks. Often investors only look at the Dividend Yield which … Read More

The Ten Attributes of Great Fundamental Investors – Michael J. Mauboussin

Johnny HopkinsMichael Mauboussin, ResourcesLeave a Comment

One of my favorite resources for sage advise on investing strategy is Michael J. Mauboussin. Mauboussin is the Head of Global Financial Strategies at Credit Suisse. Prior to rejoining CS in 2013, he was Chief Investment Strategist at Legg Mason Capital Management. Mauboussin is also the author of The Success Equation: Untangling Skill and Luck in Business, Sports and Investing, and Think … Read More

So you want to be a stock market investor? Take this test first!

Johnny HopkinsMichael Mauboussin, Research, Study1 Comment

(PHOTO: Source, www.michaelmauboussin.com) One of the great things about being a stock market investor in the year 2016, is that we have the internet. That means we have access to loads of free information to help us become better investors. There’s lots of great research that tells us why we continue to underachieve in the stock market. One of my favorite … Read More