https://www.youtube.com/watch?v=Ry_HO9V4xHI?start=621 During his recent interview with Tobias. Joseph Calandro Jnr discusses the steps that investors can take to uncover a company’s hidden assets. Here’s an excerpt from the interview: Tobias Carlisle: So you describe the strategy to exploit these hidden assets or, in particular, these intellectual property character-type assets as … Read More
Hidden Assets: Just How Did Disney Unlock $17 Billion+ From A $4 Billion Acquisition Of Marvel?
https://www.youtube.com/watch?v=Ry_HO9V4xHI?start=328 During his recent interview with Tobias. Joseph Calandro Jnr discusses how investors can find value in companies with hidden assets. He illustrates the point with the case study of Disney’s purchase of Marvel for $4 Billion. Here’s an excerpt from the interview: Tobias Carlisle: You describe in your paper … Read More
(Ep.8) The Acquirer’s Podcast: Joseph Calandro Jr – Hidden Assets, M&A Dealmaking: Disney And Marvel’s Movies
Summary In this episode of The Acquirer’s Podcast Tobias chats with Joseph Calandro, Jr. During the interview Joseph, who is the author of Applied Value Investing and 50 research publications, provides some great insights into: – Investors Can Find Value In Companies With ‘Hidden Assets’ – Case Study Disney Buys … Read More
Why Buying Options Is A Very Difficult Investment To Manage
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Why ‘Covered Calls’ Are A Great Strategy For Enhancing Yield
https://www.youtube.com/watch?v=g45heRGKrpE?start=1492 During his recent interview with Tobias. Tim Travis of T&T Capital Management discusses why ‘covered calls’ are a great strategy for enhancing yield, saying: Tim Travis: Sure. So, covered calls we use less frequently, but it’s a great strategy to enhance the yield. So, if you have a dividend … Read More
How ‘Cash Secured Puts’ Can Provide Investors With Downside Price Protection
https://www.youtube.com/watch?v=g45heRGKrpE?start=1294 During his recent interview with Tobias. Tim Travis of T&T Capital Management discusses how ‘cash secured puts’ provide investors with downside price protection, saying: Tim Travis: Yeah. So, a cash secured put just means you’re not necessarily exploiting the margin factor. So, if we’re selling just a stock, let’s … Read More
Prem Watsa: Shorting Cost Us $2 Billion and Why Value Investing Is So Tough
We’ve just been reading through the latest Fairfax Financial Annual Report 2018 in which Prem Watsa discusses his failed attempt to short indices (mainly the S&P500 and Russell 2000) and a few common stocks, saying: In the past, to protect our equity exposures in uncertain times, we shorted indices (mainly … Read More
Warren Buffett: You Don’t Want To Buy Stock In The Company That Has To Do Everything Right
Here’s a great recent interview with Warren Buffett speaking to Becky Quick at CNBC. During the interview Buffett, while speaking about Apple, provides some great insights into why investors should not buy stocks in companies that have to do everything right, saying: Apple, I’d love to see them succeed. That’s … Read More
Investors Can Use Consumer Satisfaction Surveys To Capture Alpha
https://www.youtube.com/watch?v=FdtGtzUuA3o?start=1187 During his recent interview with Tobias. Phil Bak of Exponential ETFs discusses how investors can use consumer satisfaction surveys to capture alpha. Here’s an excerpt from the interview: Tobias Carlisle: So just to go back to the ACSI, the consumer sentiment … Is it consumer sentiment? Phil Bak: Satisfaction. … Read More
Herding In Investing Significantly Impairs An Investor’s Ability To Generate Market Beating Returns
https://www.youtube.com/watch?v=_LNPDU7Pqak?start=3356 During his recent interview with Tobias, Mark Jones of Pragmatic Capital provided some great insights into why ‘herding’ in investing significantly impairs an investor’s ability to generate market-beating returns, saying: Mark Jones: I think there’s a lot of herding in investing and I think that that significantly impairs an … Read More
Smart Investors Use Put and Call Options To Hedge Stock Positions Before An Earnings Call
https://www.youtube.com/watch?v=_LNPDU7Pqak?start=2528 During his recent interview with Tobias, Mark Jones of Pragmatic Capital discusses how investors can use put and call options to hedge their stock positions prior to an earnings call, saying: Mark Jones: Right, so when I’m looking at these derivatives, I’m using them primarily for two reasons. One … Read More
Michael Mauboussin – You’ve Bought A Stock, It Goes Down – Are You Still Right Or Are You Wrong?
We’ve just been listening to Michael Mauboussin’s interview with Patrick O’Shaughnessy on his podcast, Invest Like The Best. During the interview Mauboussin provides some great insights into what investors can do if they’ve added a stock to their portfolio, and it goes down. Are they still right or are they … Read More
How To Find Contrarian Stocks That Generate Outsized Returns
https://www.youtube.com/watch?v=_LNPDU7Pqak?start=182 During his recent interview with Tobias, Mark Jones of Pragmatic Capital describes his approach to finding contrarian stocks that provide outsized returns, saying: Mark Jones: Right, so I have a four-step research process and this is how I vet or I audit the market’s point of view. I find … Read More
In Investing The Counter To Fooled By Randomness Is Fooled By Narrative
https://www.youtube.com/watch?v=IwkEbI1gKmk?start=3044 During his recent interview with Tobias, Corey Hoffsten provides some great insights into how investors can be fooling themselves by coming up with a narrative and then data-mining the facts to fit that narrative, saying: Corey: Yeah, I think it sounds wonderful and flowery and intuitive to say, “Hey, … Read More
Seth Klarman – Unsuccessful Investors Are Dominated By Emotion
One of the best books ever written on investing is Margin of Safety, by Seth Klarman. There’s one passage in particular in which Klarman discusses behaviors to avoid in order to achieve success in investing, saying: Unsuccessful investors are dominated by emotion. Rather than responding coolly and rationally to market … Read More
When There’s No Pain, There’s No Premium In Investing
https://www.youtube.com/watch?v=IwkEbI1gKmk?start=3529 In his recent interview with Tobias, Corey Hoffstein discusses his no pain, no premium investing strategy, saying: Corey: So this is one of those, it goes back to the old, “No pain, no gain.” It’s just a play on that, but at the end of the day it goes … Read More
John Rogers: ‘Cheap Orphan’ Stocks Appear During High Volatility Markets
Here’s a great interview with John Rogers of Ariel Investments speaking with Business Insider. During the interview Rogers shares some great insights into how ‘Cheap Orphan’ stocks appear in high volatility environments, saying: We try to make volatility our friend. And when we see stocks that are gapping down on … Read More
Aswath Damodaran: Do Not Invest In Companies That Try To Achieve Growth Through Acquisition
Here’s a great article by Aswath Damodaran in which he warns investors who are considering investing in companies that use acquisitions as part of their growth strategy, saying: “If you look at the collective evidence across acquisitions, this is the most value destructive action a company can take.” Here’s an … Read More
Warren Buffett: Stocks – What Else In The World Don’t You Like To Buy Cheaper Than You’re Paying The Day Before?
Here’s a great recent interview with Warren Buffett at CNBC discussing a number of topics including his value investing mindset. Here’s an excerpt from the interview: BECKY QUICK: I know you’re like Dr. Spock. You’re completely emotionless, when it comes to dealing with market moves. But is there any part … Read More
Charles Munger: Here’s Why Investing Is So Much Tougher Today
Here’s a great recent interview with CNBC’s Becky Quick and Charles Munger discussing the difficulty of being an investor today, compared to when he and Warren started. Here’s an excerpt from the interview: Becky Quick: Charlie thank you very much for taking the time to sit down with us today. … Read More