In a recent Financial Times article, Terry Smith reflects on Warren Buffett’s retirement with a Shakespearean nod: “I shall not look upon his like again,” he writes, invoking Hamlet. “Since Warren Buffett announced his retirement from Berkshire Hathaway this month, financial commentators have been asking themselves the same question: can … Read More
This Week’s Acquirer’s Multiple FREE U.S Large-Cap Stock Screener Analysis
Industry Overview Several sectors are showing up repeatedly in this week’s screen, indicating clusters of value opportunities: Integrated Oil and Gas Exploration and Production leads with 6 stocks, suggesting that energy stocks—particularly diversified oil producers—are broadly undervalued based on operating earnings. Computer Hardware and Storage and Wireless and Wireline Telecommunications … Read More
Cliff Asness on Resilience, Rationality, and Why Most Investors Give Up Too Soon
Cliff Asness, co-founder of AQR Capital, offers a refreshingly stubborn perspective on investing: great investing isn’t just about smart strategies—it’s about sticking with them, even when the going gets tough. During his interview with David Weisburd, Asness didn’t shy away from the emotional toll of underperformance. “During our toughest period, … Read More
Terry Smith: Why We Stay Fully Invested
When you get a chance, check out the annual letters by Fundsmith’s Terry Smith. His 2014 letter delivers his usual mix of dry wit, no-nonsense advice, and unwavering belief in buy-and-hold investing. After another strong year—up +23.3% versus +11.5% for the MSCI World—Smith opens by reminding readers, “We never tire … Read More
Joel Greenblatt: Best Takeaways From You Can Be A Stock Market Genius
If you’ve ever felt like the stock market is rigged for the MBAs and Wall Street pros, Joel Greenblatt’s You Can Be A Stock Market Genius has some reassuring—and hilariously honest—news: you actually have the edge. “Okay: What’s the catch?” he asks in chapter one. “If it’s so easy, why … Read More
Howard Marks: “Excessive Certainty Is The Enemy”
Howard Marks is the kind of investor who challenges the way you think. In this interview, he shares insight after insight, all with the steady, grounded perspective that only comes from decades of navigating real markets. What really stands out is his consistent focus on risk. “The challenge, the real … Read More
Steve Romick: “This Too Shall Pass” – A Veteran Investor’s Calm in Market Chaos
Steve Romick doesn’t mince words. The veteran value investor from the FPA Crescent Fund offers a welcome dose of level-headed perspective — especially during chaotic times like these. “It’s only April,” Morningstar’s Leslie Norton noted, “but you’ve had an eventful year.” Fires in Los Angeles, whipsaw markets, and political uncertainty … Read More
Li Lu: Top 5 Positions Make Up 93.27% Of His Portfolio (Analysis)
Li Lu’s top 5 positions make up 93.27% of his current portfolio, reflecting a highly concentrated investment strategy. His largest holding, Bank of America (BAC), alone represents 29.31%. Below is an in-depth look at each holding, analyzing position size, value, percentage of portfolio, and recent changes. Bank of America Corp … Read More
This Week’s Acquirer’s Multiple FREE U.S Large-Cap Stock Screener Analysis
This week’s large-cap screener covers a wide array of industries, including energy, finance, homebuilding, automobiles, telecommunications, and consumer retail. Among these, sectors like energy, specialty finance, and consumer cyclicals appear to offer the most compelling value based on the Acquirer’s Multiple (AM), a key metric that identifies undervalued companies. Specialty … Read More
David Abrams: Focus on Multiple Future Paths in Investing
David Abrams, Founder of Abrams Capital and former Baupost Group investor, seldom speaks publicly. In a rare interview with Value Investing with Legends, he shared key principles behind his investing strategy. Investing begins with a simple but critical question: “What’s the risk?” As David Abrams explains, the first step is understanding … Read More
Bill Ackman: When to Buy the Best Businesses (At the Right Price)
Bill Ackman’s investment philosophy comes down to a simple but powerful idea: find great businesses when they’re going through tough times, buy them at a discount, and help them get back on track. In an interview with Lex Fridman, he broke down exactly how he does this in straightforward terms … Read More
Jeremy Grantham: Resilience is the New Investing Superpower
In his latest article, ‘Rising Toxicity and the Threat to Capitalism and Life Itself,’ Jeremy Grantham issues sobering warnings that should give every investor pause. We’re witnessing the end of an era of smooth, consistent growth, and the investment strategies that delivered reliable returns for decades may soon become obsolete. … Read More
François Rochon: The Optimal Portfolio Strategy
In a recent interview with The Investor’s Podcast, one of my favorite value investors, François Rochon from Giverny Capital, shared some straightforward advice about building a smart investment portfolio. His main takeaway? Owning between 20 to 25 high-quality stocks gives you the right mix of diversification and concentration for long-term … Read More
Buffett’s Rule: How Much to Invest in a Single Stock
As investors, we constantly grapple with the question of how much to allocate to each position in our portfolio. When students from Emory’s Goizueta Business School and the McCombs School of Business at UT Austin had the opportunity to visit Warren Buffett for a Q&A session, they gained valuable insights … Read More
Mohnish Pabrai: How to Spot a True ‘Cannibal’ Stock
I’ve just finished watching Mohnish Pabrai in his recent interview with the Capital Compounders Show in which he shared a fascinating insight on share buybacks. His discussion on “cannibals”—companies that aggressively buy back their own stock—provides a powerful mental model for investors looking to maximize long-term wealth accumulation. “I think … 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
Howard Marks: Why Credit is a Better Bet Than Stocks Right Now
Many investors love to argue over where the best returns will come from—stocks or bonds? Historically, equities have been the go-to for long-term growth, but right now, credit offers a compelling case that’s hard to ignore. In his recent memo, Gimme Credit, Howard Marks makes a strong argument that, at … 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
Comprehensive Analysis of Warren Buffett’s Q4 2024 Portfolio Changes
Following is a comprehensive analysis of Warren Buffett’s Q4 2024 portfolio changes compared to Q3 2024. Key Observations No major changes in top holdings like Apple (AAPL), American Express (AXP), and Coca-Cola (KO), though some valuation shifts. Financial sector trims, particularly in Bank of America (BAC) and Citigroup (C). New … Read More
Long-Term Value Investing: Strategy, Moats & Portfolio Management
During their recent episode, Taylor, Carlisle, and Ardal Loh-Gronager discussed Long-Term Value Investing: Strategy, Moats & Portfolio Management. Here’s an excerpt from the episode: Tobias: Tell us a little bit about your investment strategy. What sort of businesses do you like to look at? What’s the geographic range, any industries, … Read More