Mohnish Pabrai: The Yellowstone Factor In Investing

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Some years ago Mohnish Pabrai wrote a great piece about valuing investments called – The Yellowstone Factor. In the article Pabrai provided some great insights on the importance of not relying on absolute and precise mathematics in investing saying: “Investing is not a discipline based on absolutes or precise mathematics. There simply … Read More

T. Rowe Price: Value Investing Is Not Dead

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Here’s a great article by Sebastien Mallet, Portfolio Manager at T. Rowe Price on the future of value investing saying: “So getting back to the original question, “Is value investing dead?”: The answer is a firm no. The only caveat to that statement is that in this current environment, where everyone … Read More

Li Lu: “The Market Is A Mechanism That Discovers Your Weaknesses. Any Fault/Defect You Have Will Be Magnified Infinitely, To The Point Of Complete Destruction.”

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One of our favorite investors to follow here at The Acquirer’s Multiple is Li Lu, Founder and Chairman of Himalaya Capital.  In 2015 Li Lu did a value investing lecture at Peking University titled – The Prospect of Value Investing in China, in which he provided a number of fantastic value … Read More

Jamie Dimon: Investors Should Not Be Surprised By The Non-Linear Nature of Companies and Markets

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Jamie Dimon provides some great insights in his Annual Shareholder Letters at JPMorgan Chase. In his latest letter Dimon makes a great point regarding the non-linear nature of companies and markets. Here’s an excerpt from that letter: Volatility and rapidly moving markets should surprise no one. We are always prepared … Read More

Ray Dalio: “Think About How To Rotate Your Portfolio To Buy That Which Is Cheap And Sell That Which Is Expensive”

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Last week Ray Dalio did a question and answer session with some folks on Reddit where he shared a number of valuable investing insights. Dalio started the conversation with the following message: “I’m Ray Dalio—founder of Bridgewater Associates and author of Principles. This is my first AMA. Ask me anything!” My … Read More

James Montier: You Can Turn Behavioral Biases Into An Advantage Using A Valuation-Based Framework

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We’ve just been listening to a great interview with James Montier on Meb Faber’s podcast. During the interview Montier provides some great insights to help investors protect themselves from their behavioral biases. Montier says that you can actually turn behavioral biases, like anchoring, into an advantage using a valuation-based framework. … Read More

Seth Klarman Protege David Abrams Says “Value Investing Is The E = mc² Of Money And Investing”

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One of our favorite investors to follow here at The Acquirer’s Multiple is Seth Klarman’s protege David Abrams. Abrams typically shuns the public limelight so it’s difficult to find interviews where he shares his investing strategy. The WSJ did a great story on him back in 2014 titled – Hedge-Fund World’s … Read More

Nassim Taleb: How Frequent The Profit Is Irrelevant; It Is The Magnitude Of The Outcome That Counts

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Here’s a great investing lesson by Nassim Taleb from his book Fooled by Randomness. Similarly to Michael Mauboussin in this article, Taleb makes the point that it’s not how frequently you profit from your investments that important, it’s the magnitude of the outcome that counts. Here’s an excerpt from the book: … Read More