During his recent interview with FinChat, renowned value investor Bill Nygren reflected on mistakes and lessons learned over his career. His insights serve as a compelling reminder of the delicate balance between conviction and caution in investing. “You know, it’s funny, there’s so many mistakes. If you define the mistake … Read More
Tobias Carlisle: Redefined Value Investing For 2025
In the early 2020s, skepticism toward value investing surged. As Tobias Carlisle noted on the Excess Returns Podcast, “In 2020 and 2021, the growthy, better-quality companies were having a field day, and value was again being left behind.” Critics argued value investors were merely price investors, relying on multiple expansion … Read More
Is Value Investing Still Alive? The Reality of Rerating and Market Patience
During their recent episode, Carlisle, Taylor, and Andrew Wellington discussed Is Value Investing Still Alive? The Reality of Rerating and Market Patience. Here’s an excerpt from the episode: Tobias: Good stuff. Andrew, David Einhorn says that value is dead in slightly different words. But what do you think about his … Read More
Prem Watsa on Market Cycles: Why Growth Stocks Won’t Dominate Forever
In a world where momentum and technology stocks have dominated the markets for the past decade, the principles of value investing have often been overshadowed. However, as Prem Watsa, the renowned investor and CEO of Fairfax Financial, pointed out in a 2019 interview with the P/V Podcast, history suggests that … Read More
Value Investing Reimagined: How Buffett Moved Beyond Cigar Butt Stocks
Warren Buffett’s approach to investing has evolved significantly over the decades, and his remarks during the 2003 Berkshire Hathaway Annual Meeting offer a glimpse into that transformation. What began as a strict adherence to Benjamin Graham’s quantitative approach to investing eventually shifted toward a more nuanced understanding of business quality—largely … Read More
David Einhorn’s Take on Why Low-ROE Stocks Deserve Your Attention
In the world of investing, conventional wisdom often tells us to chase high return-on-equity (ROE) businesses. Investors are naturally drawn to companies that boast impressive profit margins and efficient capital allocation. However, as legendary value investor David Einhorn highlighted in his 2006 speech at the Value Investing Congress, there’s a … Read More
How Michael Melby Achieves 22.4% Returns in Small-Cap Deep Value Investing
During their recent episode, Taylor, Carlisle, and Ian Cassel discussed How Michael Melby Achieves 22.4% Returns in Small-Cap Deep Value Investing. Here’s an excerpt from the episode: Ian: I apologize for this being such a monologue, but you have a guy like Michael Melby as an example. We were talking … Read More
Pzena: Value Stocks Set to Rebound as Market Concentration Normalizes
In their latest Q4 2024 Pzena Market Summary titled – Living In A Concentrated World – Richard Pzena’s firm says Global equity markets have grown increasingly concentrated, driven by U.S. dominance and a few top-performing stocks, particularly since the rise of generative AI in 2022. This trend has hindered value … Read More
Bill Nygren: Abundant Value Investing Opportunities Beyond Big Tech
In his recent Insight video, Bill Nygren highlights the current appeal of value investing due to a significant valuation gap between a few mega-cap tech companies driving the S&P 500 and other industries. While the S&P 500 trades at a high PE multiple, value stocks are available at much lower … Read More
Vale SA (VALE): Is This Deeply Undervalued Stock a Hidden Gem?
As part of our ongoing series here at The Acquirer’s Multiple, each week we focus on one of the stocks from our Stock Screeners, and why it’s possibly a deeply undervalued gem. The Stock this week is: Vale SA (VALE) Vale is a large global miner and the world’s largest producer of … Read More
Li Lu: Enormous Opportunities For Value Investing in a Globalized Future
During his recent keynote speech at the Columbia University Global Center (Beijing), Li Lu reflected on the evolution of value investing, emphasizing its roots in Graham’s principles during tumultuous times, including the Great Depression and World War II. Graham’s key ideas were: stocks represent ownership, the market serves investors, and … Read More
Why Value Investing Struggles in Manias
During their recent episode, Taylor, Carlisle, and Jason Buck discussed Why Value Investing Struggles in Manias. Here’s an excerpt from the episode: Tobias: The S&P500 value has had this record setting nosedive while everything else has been taking off. I don’t understand. Why can’t value participate in one of these … Read More
Value Investing Masterclass: Greenblatt & Pzena – Excess Financial Leverage And Value Investing are Not Good Bedfellows
In their recent Value Investing Masterclass, Rich Pzena and Joel Greenblatt discuss all things value investing including their days spent worked together on a Ben Graham paper in college. During the interview Rich Pzena also discusses his thoughts on why value investing and excess financial leverage are not good bedfellows. … Read More
First Eagle: The Timeless Advantage of Value Investing
Here’s a great interview at Advisor Perspectives with the value investing firm First Eagle titled – The Timeless Advantage of Value Investing. During the interview the First Eagle team was asked – can the success of value investing persist when so many investors have been schooled in the works of … Read More
Pzena Investment Management: Webinar EM Value: How Trade Wars Create Opportunities in Emerging Markets
Here’s a great little webinar from value investing firm – Pzena Investment Management which discusses how trade wars create opportunities in emerging markets saying: “This is a particularly interesting time to invest in emerging markets. Global trade wars have created opportunities where companies with strong competitive positions are caught in … Read More
FT: Has The Value Investing Fightback Begun?
Here’s a great article from The Financial Times titled – Has the value investing fightback begun?, which discusses whether value investing is making a fightback as US value stocks have gained almost 10 per cent since the beginning of September. Here’s an excerpt from that article: Like an ageing, unfancied … Read More
What Do The Top Value Funds Have in Common?
Over the past two days we posted Part 1, and Part 2 of Morningstar’s three part series on Value Investing. Following is the final part in the series which examines the common themes linking the top value funds during the past several years. Here’s an excerpt from that article: Which … Read More
Value Managers On Why Value Investing Has Underperformed
Yesterday we posted Part 1 in a three part series by Morningstar titled – Morningstar: Value Investing: A Deep Dive Into Performance. Today we look at Part 2 in which Morningstar analysts provide their opinions on why value investing has underperformed for most of the last two decades, based on what … Read More
Morningstar: Value Investing: A Deep Dive Into Performance
Here’s a great article at Morningstar that does a deep dive on the underperformance of value investing over the past twenty years. The article is the first in a three part series. The second part will include Morningstar’s fund analysts providing color on what they have picked up in their … Read More
Bloomberg: A Real Shift May Be Underway Towards Value Investing
Here’s an article from Bloomberg titled – For a Strategy Left for Dead, Value Stocks Sure Do Return a Lot, which discusses the possibility that a real shift may be underway towards value investing: Ask any Wall Street wag and he’ll tell you: the time-honored strategy known as value investing is … Read More
- Page 1 of 2
- 1
- 2