During a recent interview with Forbes, Bill Ackman’s discussed his investment philosophy which revolves around identifying businesses that function as “growth royalties” or “annuities”—companies that generate durable, predictable cash flows with minimal capital investment. As he explains, “The value of a financial asset is the present value of the cash … Read More
Ken Fisher Exposes the Truth Behind Taxes and Stock Market Moves
Ken Fisher has a message for investors who think tax cuts automatically boost stocks: “Everybody thinks this, but I show you it’s really not like that in the marketplace of stocks or bonds or capital markets.” In his latest Debunkery chapter, Fisher tackles Bunk #36—the persistent belief that “Stocks Love … Read More
Warren Buffett: Great Investments Go Beyond the Balance Sheet
Investing is a balance between hard data and good judgment. As Warren Buffett put it in his 1967 Partnership Letter, “The evaluation of securities and businesses for investment purposes has always involved a mixture of qualitative and quantitative factors.” On one side, you’ve got the believers in business fundamentals—the ones … Read More
Mohnish Pabrai: Buffett’s Geiger Counter Approach
An often-overlooked aspect of Warren Buffett’s investment philosophy is his ability to pivot when opportunities arise outside the mainstream equity markets. This flexibility is what Mohnish Pabrai calls Buffett’s “Geiger counter approach” in his book – Mosaic: Perspectives on Investing. The Geiger counter metaphor suggests an investor constantly scanning for … Read More
The Power of Qualitative Analysis in Investing
During their recent episode, Taylor, Carlisle, and Ardal Loh-Gronager discussed The Power of Qualitative Analysis in Investing. Here’s an excerpt from the episode: Ardal: So, taking the question slightly broader. So, on a quantitative analysis, I think we’re all looking at the same information or data set. So, that’s why … Read More
Warren Buffett: – The Investor’s Equation
In his 1977 Fortune article, How Inflation Swindles the Equity Investor, there’s a section titled – The investor’s equation in which Warren Buffett delivered a sobering analysis of how inflation and valuation affect investment returns. More than four decades later, his insights remain just as relevant. Buffett makes it clear … 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
Why Investing Success Demands Embracing Paradox
During their recent episode, Taylor, Carlisle, and Jim O’Shaughnessy discussed Why Investing Success Demands Embracing Paradox. Here’s an excerpt from the episode: Tobias: JT, top of the hour. Do you want to do your veggies? Jake: Yeah. And couldn’t be a better transition, to be honest, as you might find … 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
Michael Burry – Top 10 Holdings – Latest 13F
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Ray Dalio: Markets Tend To Equalize Opportunities Across All Bets
During this interview with William Green, Ray Dalio discusses the challenges of succeeding in financial markets, describing them as highly competitive and akin to a zero-sum game, where one participant’s gain is another’s loss. He highlights the complexity and resources required, noting Bridgewater’s extensive research and large team. Dalio stresses … Read More