Mohnish Pabrai – Focus On Individual Stocks And Never Ever Invest In IPO’s – Here’s Why

Johnny HopkinsMohnish Pabrai Comments

Here’s a great interview with Mohnish Pabrai on ET Now. With regards to IPO’s Pabrai says, “The simple rule to follow is do not buy what is being sold, especially what is being sold by promoters. Just completely side step the IPO market.” In relation to individual stock investment he says, “The most important thing after getting fluency on compounding … Read More

Howard Marks – Most Great Investors Stick To An Approach Through Thick And Thin

Johnny HopkinsHoward Marks Comments

I’ve just been reading the latest Graham & Doddsville newsletter which features Howard Marks. the Co-Chairman of Oaktree Capital. It’s a great interview with Mark’s in which he discusses his investing strategy, investor psychology, investing timeframes and how great investors stick to their approach through thick and thin. Here’s an excerpt from the newsletter: Graham & Doddsville (G&D): You last spoke … Read More

Michael Steinhardt – Being Contrarian Is Not Enough. You Have To Be Right!

Johnny HopkinsMichael Steinhardt Comments

Michael Steinhardt is an investing legend. His fund, Steinhardt Partners had an impressive track record that amassed 24% compound average annual returns for a 28-year period. He focused on a macro asset allocation strategy that included stocks, bonds, options, and currencies. His investing strategy was best summarized by his six golden rules of investing and publicized by Charles Kirk of The … Read More

Warren Buffett’s Hero Philip Carret Says There’s Only One Rule For Selling Winning Stocks

Johnny HopkinsPhilip Carret, Warren Buffett Comments

One of our favorite investors here at The Acquirer’s Multiple is value investing legend Philip Carret who Warren Buffett once described as one of his heroes. Carret has written three books – The Art of Speculation, A Money Mind at Ninety, and Classic Carret: Common sense from an uncommon man. After founding his Pioneer Fund in 1928, one year before the great … Read More

Charles Munger – 5 Ultrasimple Notions For Successful Investing

Johnny HopkinsCharles Munger Comments

One of my favorite investing books is – Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, by Janet Lowe. The book is a great insight into Munger’s life, philosophy, and investing journey. One passage in the book which is of particular interest to investors is Munger’s five ultrasimple general notions that he finds helpful in solving problems. These … Read More

Ron Muhlenkamp – The 3 Year Rule That Reduces The Volatility In Your Portfolio

Johnny HopkinsRon Muhlenkamp Comments

Most investors check their portfolio every day or every week to see how it’s performing. The problem with that is that the patience of these investors is often exhausted with the inevitable short-term swings in the market. This eventually leads to investors losing their nerve and acting on the short-term gyrations. So how is an investor supposed to overcome this predicament? … Read More

Charles Munger – Big Gains Invariably Mean Long Periods Of Underperformance

Johnny HopkinsCharles Munger Comments

Let’s face it, most investors are not prepared to go through long periods or short periods of underperformance in order to achieve outperformance. The only problem with that is that those investors will invariably miss out of the big gains achieved by the most successful investors. The good news is that if you are prepared to suffer through the heartburn … Read More

Seth Klarman – 20 Investment Lessons From 2008

Johnny HopkinsSeth Klarman Comments

As we’re currently in the midst of a sustained bull market it seems like a good time to reflect on the 2008 financial crisis and some of the lessons we should remember when everything appears to be rosy in the stock market. Back in 2010, Value Investors Insight printed a great article, with permission from Seth Klarman, which included 20 lessons from … Read More

Howard Marks Interview – Nobody Knows What Will Happen Next – Finanz und Wirtschaft

Johnny HopkinsHoward Marks Comments

Here’s a great in-depth interview with Howard Marks at Finanz und Wirtschaft. Marks talks about the current market environment, investor complacency, the lack of historical parallels, and says, “The people you want to follow in this world are the ones that encourage optimism at low valuation levels; those who say “cool it”, when prices go higher and higher.” Here’s an … Read More

John Maynard Keynes – 3 Guiding Principles From 1938 That Have Stood The Test of Time

Johnny HopkinsJohn Maynard Keynes Comments

One of my favorite investing books is The Warren Buffett Portfolio, by Robert G. Hagstrom. The book is a New York Times bestseller and provides a detailed look into the strategies that Warren Buffett uses to pick stocks. While the focus of the book is on Buffett, there is also a great a passage on John Maynard Keynes, who Buffett has often recommended … Read More

Jeremy Grantham – 10 Timeless Investing Lessons

Johnny HopkinsJeremy Grantham Comments

One of the firms we watch closely here at The Acquirer’s Multiple is GMO and its co-founder, Jeremy Grantham. Grantham successfully predicted numerous financial asset bubbles. He warned against the dot-com bubble and vulnerability in the U.S. stock market leading up to the financial crisis. Over the years his shareholder letters have provided valuable insights for investors. One of my favorites … Read More

Charlies Munger – The Ultimate Investing Principles Checklist

Johnny HopkinsCharles Munger Comments

As an investor it’s important to remember that there is no secret formula or simple blueprint for success in the stock market. However, with hard work, patience and diligent analysis you can put the odds in your favor. One of the best starting points for a successful journey in investing can be found in the book, Poor Charlie’s Almanack. In which … Read More

Interview With Tobias Carlisle – Outlook Business

Johnny HopkinsTobias Carlisle Comments

Great interview with our Founder Tobias Carlisle at Outlook Business. Here’s an excerpt from that interview: There are very few lawyers who end up as full-time investors. Maybe because they have figured out that the grass is indeed greener on their side. Investing is not a sure thing but litigation or liquidation sure is. Tobias Carlisle then is an exception … Read More

James Montier – Here’s How Soros Successfully Safeguards Against Making Recurring Mistakes

Johnny HopkinsJames Montier Comments

As investors we all pat ourselves on the back, telling ourselves how smart we are when a stock that we picked outperforms. At the same time we can find dozens of reasons, excluding our own poor judgement, when another stock pick gets hammered. The reason in behavioral investing terms is called self-attribution bias. Self-attribution bias is our habit of attributing … Read More

Mohnish Pabrai – The Secret To Finding Your Next 100-Bagger

Johnny HopkinsMohnish Pabrai Comments

100-Baggers are the holy grail of investing. These are stocks that return $100 for every $1 invested and they’re extremely rare. However, the secret to capturing your next 100-Bagger can be found in a presentation that Mohnish Pabrai did with the folks at Google earlier this year. The answer came when Pabrai was asked a unrelated question regarding whether he shorts … Read More

Here’s How Successful Investors Dampen Down Their Investing ‘Cocaine Brain’ – Pabrai, Spier

Johnny HopkinsGuy Spier, Mohnish Pabrai Comments

As investors we all know the excitement we feel when we come across what we think is an undervalued opportunity that seems to have been overlooked by most other investors. The feeling of exhilaration that we get is called “cocaine brain.” Neuroscientists have found that the prospect of making money stimulates the same primitive reward circuits in the brain that cocaine does. The … Read More

21 Timeless Investing Lessons From Bruce Berkowitz

Johnny HopkinsBruce Berkowitz Comments

Bruce Berkowitz is the Founder and Chief Investment Officer of Fairholme Capital Management, and President and a Director of Fairholme Funds, Inc. In 2010 Berkowitz was named as the 2009 Domestic-Stock Fund Manager of the Year by Morningstar as well as the Domestic-Stock Fund Manager of the Decade (2000-2009), also by Morningstar. Most recently, he was named 2013’s Money Manager of … Read More

Is It Better To Buy The Stock And Watch The Price Drop Or Not Act And Watch The Price Soar? – Daniel Kahneman

Johnny HopkinsCharles Munger, Daniel Kahneman, Warren Buffett Comments

One of the most common predicaments facing investors is that they’ve analysed a stock, it meets with the investors criteria, and now it’s time to pull the trigger and buy the stock. But something happens, the investor ums and ahs and delays the decision to buy. Next thing you know three months later the value of the stock has risen by … Read More