During their recent episode, Taylor, Carlisle, and Bogumil Baranowski discussed Forgotten Money and Forgotten Stocks: The Peaceful Portfolio Concept. Here’s an excerpt from the episode: Bogumil: Yeah. I think what I’m looking for, it’s a certain gap between reality and perception. I think you can find that gap between across … Read More
VALUE: After Hours (S07 E39): Bogumil Baranowski on Freedom, Mindfulness, Patience, and the Art of Investing
During their recent episode, Taylor, Carlisle, and Bogumil Baranowski discussed: I’m a Value Buyer but a Growth Holder Forgotten Money and Forgotten Stocks: The Peaceful Portfolio Concept Why Having No Price Target Can Make You a Better Investor Why the U.S. Is Still the Best Place for Capital to Grow … Read More
VALUE: After Hours (S07 E37): Reproducible Success vs. Luck-Driven Wins
During their recent episode, Taylor, Carlisle, and Luca Dell’Anna discussed Reproducible Success vs. Luck-Driven Wins. Here’s an excerpt from the episode: Tobias: That’s what’s been holding me back so far. [chuckles] This is a related idea. But one of the ideas from Winning Long-Term Games, is this reproducible success strategies, … Read More
What Howard Marks Learned from a Pension Fund’s Approach to Risk
In his Memo – A Look Under the Hood, Howard Marks reflects on the experience of sitting in with a state pension board and its consultant, describing it as “very informative for me,” and a reminder of how vital it is that investment decisions “are done explicitly and intelligently.” Marks … Read More
VALUE: After Hours (S07 E37): Winning Long-Term Games and Ergodicity with Author Luca Dell’Anna
During their recent episode, Taylor, Carlisle, and Luca Dell’Anna discussed: Performance Is Subordinate to Survival Irreversible Losses Absorb Future Gains Reproducible Success vs. Luck-Driven Wins Give Yourself a Longer Time Horizon—or Only Bad Options Remain Why Short-Term Optimization Destroys Long-Term Growth Trust Is a Compounding Asset AI, Probabilities, and the … Read More
VALUE: After Hours (S07 E36): SMB Acquirer Colin King on Entrepreneurship-through-Acquisition and Search Funds
During their recent episode, Taylor, Carlisle, and Colin King discussed: Return on Headache: The Hidden Metric in Small Business Investing How to Spot a Good Private Acquisition: Paying Half of Revenue and Scaling Smart Why the World Needs a Little Bit of Crazy: Entrepreneurs, Elon Musk, and Creation Engineers vs. … Read More
VALUE: After Hours (S07 E35): Why Character Beats IQ in Investing Every Time
During their recent episode, Taylor and Carlisle were joined by Justin Carbonneau, Jack Forehand, and Matt Zeigler. They discussed: Why Character Beats IQ in Investing Every Time. Justin: All right. So, the last one was by Pim van Vliet. He’s a Robeco guy over in Europe, a big quant guy. … Read More
Howard Marks Reflects on 35 Years of Memos
Howard Marks’s Memo – The Best Of… opens with a simple idea that defines his career: “long-term investment success is best achieved through a string of consistently good returns and an absence of poor years, rather than by aiming for brilliant successes, getting there in some years and flopping in … Read More
Peter Lynch: The Biggest Mistakes Investors Make and How to Avoid Them
Peter Lynch’s interview with The Compound reminds investors why the simplest lessons often prove the hardest to follow. “The real key to making money in stocks is not to get scared out of them,” he said. Fear, not knowledge, is the destroyer of wealth. “More important to that,” Lynch continued, … Read More
VALUE: After Hours (S07 E29): Why Micro-Caps Are Attractive
During their recent episode, Taylor, Carlisle, and Jason Hirschman discussed Why Micro-Caps Are Attractive. Here’s an excerpt from the episode: Tobias: I think that’s a pretty good answer. I like that approach to its sizing helps you deal with that sort of risk. Talk to us a little bit about … Read More
Jamie Dimon: Why Effort, Analysis & EQ Matter Most In Investing
During his recent interview with How Leaders Lead with David Novak, Jamie Dimon reflects on his upbringing and career offer invaluable lessons for investors, rooted in discipline, purpose, and a deep understanding of human behavior. His parents instilled in him core values that transcended finance, yet profoundly shaped his approach … Read More
How to Beat the Market with Greenblatt’s Simple Strategy
In The Little Book That Still Beats the Market, Joel Greenblatt distills decades of experience into a concise, witty, and surprisingly approachable framework for beating the market. At its core, Greenblatt introduces what he calls the “Magic Formula”—a systematic way to buy good companies at bargain prices. The book’s premise … Read More
Pzena Study Reveals Value Stocks’ Big Rebound After Volatility
In their latest Q2 2025 commentary, Pzena Investment Management offers a sober but optimistic perspective for long-term investors confronting heightened volatility. “The second quarter was a wild ride for global equity markets,” they write, citing early-quarter declines sparked by trade-war fears and later volatility due to Middle East tensions. Despite … Read More
Tom Russo on Why Indispensable Brands Win in Any Market
Tom Russo, Chairman of Gardner Russo & Quinn and steward of the Semper Vic Partners funds since 1983, has built his reputation on a singular principle: own a few exceptionally well-managed, globally recognized brand-name firms and hold them for decades. In a recent interview with WealthTrack he explained how that … Read More
Vitaliy Katsenelson: Learning From Your Mistakes
In this Q&A session, Vitaliy Katsenelson was asked about his biggest errors over the past five years. His response: “I would argue like the obvious one—my cable stocks so far have been capital misallocation,” he admitted. He still holds hope that the thesis will eventually play out, but added, “At … Read More
Joel Greenblatt: Most Investors Sabotage Themselves By Chasing Performance
In this interview with Jonathan Satovski on the Wisdom, Wealth, and Wellness Podcast, Joel Greenblatt discusses a number of topics including patience, discipline, and the behavioral pitfalls that trip up even the smartest investors. The core lesson? “The more you know, the less hard it is to stick with it. … Read More
Tweedy Browne: Finding The Best Value Investing Opportunities
Let’s be honest – the current U.S market is obsessed with AI hype and nosebleed valuations. Yet while others chase momentum, Tweedy Browne’s Thomas Shrager and Jay Hill keep their feet firmly planted in value investing’s time-tested principles. Their strategy cuts through the noise: uncover fundamentally sound companies trading at … Read More
VALUE: After Hours (S07 E21): Buffett’s Cognitive Altitude and the Value of Going Deep
During their recent episode, Taylor, Carlisle, and Chris Waller discussed Buffett’s Cognitive Altitude and the Value of Going Deep. Here’s an excerpt from the episode: Jake: Yes. All right. So, imagine you’re looking at Earth from space and from that vantage, it’s all these majestic swirls of blue and green … Read More
Mario Gabelli: “I Want the Ignored” — Inside His 2025 Investment Strategy
Mario Gabelli’s 2025 investment outlook comes down to one simple idea: “we want the ignored and unloved, Howard wants the loved, I want the ignored.” The veteran investor’s approach remains as straightforward as ever – find value where others aren’t looking. At this year’s annual meeting, Gabelli explained his core … Read More
Michael Mauboussin: The Hard Truth About Drawdowns
Let’s cut to the chase: if you can’t stomach big drawdowns, you shouldn’t be investing in stocks. As Michael Mauboussin and Dan Callahan put it in their latest Morgan Stanley report, Drawdowns and Recoveries, Charlie Munger’s take on this is brutally clear: “I think it’s in the nature of long-term … Read More