Opinion: Are You a Value Investor?

Tobias CarlisleStudyLeave a Comment

Submitted by Valueaki. I am an investment banking associate by trade. I deal with A LOT of private equity firms. They all define themselves as great fundamental value investors that like to back great management teams, etc … As such, it is getting harder to identify true value investors (as … Read More

Negative Enterprise Value: A Primer

Tobias CarlisleStudy10 Comments

Companies with a negative enterprise value are elusive beasts, highly sought after by deep value investors, but little understood outside that world. Alon Bochman, CFA is an aficionado of the negative enterprise value.  He wrote the following piece for the CFA website in 2013 that neatly explains what they are, and why they’re … Read More

Greenblatt and Asness on Periods of Underperformance for Value

Tobias CarlisleStudy1 Comment

Fascinating note from Forbes on the underperformance of Joel Greenblatt’s mutual funds that implement the Magic Formula: [I]nstead of trying to paint Gotham’s year-to-date returns as indicative of any obvious flaw in strategy, it’s likely a far stronger data point to use as a read on the overall market. Its … Read More