One of our favorite investors at The Acquirer’s Multiple is John Bogle, founder of the Vanguard Group. In a recent article written for the CFA Institute’s Financial Analysts Journal, Bogle provides his seven investing rules for successful stock market investing. My favorite is Rule #7 which is: Stay the course. … Read More
Seth Klarman Warns Today’s High Stock Prices Are Masking Perceived Risks
According to a recent article by Business Insider, Seth Klarman has warned investors that today’s high stock prices are masking perceived risks. Here’s an excerpt from that article: “When share prices are low, as they were in the fall of 2008 into early 2009, actual risk is usually quite muted … Read More
Francois Rochon: 8 Rules For Successful Equity Investing
One of our favorite investors at The Acquirer’s Multiple is Francois Rochon at Giverny Capital. According to the firm’s website, Rochon’s U.S. Portfolio has an annualized return of 14.8% since 1993 compared to the S&P 500 of 9.2%. Rochon wrote a great paper for investors called the Keys to Successful investing, which provides … Read More
500 Years Of Stock Panics, Bubbles, Manias, & Meltdowns (In 1 Simple Chart)
One of the Top 50 Investing Blogs for 2017 is Zero Hedge, and one of the best articles at Zero Hedge is one called, 500 Years Of Stock Panics, Bubbles, Manias, & Meltdowns (In 1 Simple Chart). It’s a simple yet powerful illustration of just what has happened in the history of … Read More
Value Investing Nuggets – Value Investor Insight Newsletter – April 2017
One of the best resources for value investors are the Value Investor Insight Newsletters. The VII newsletter is a value investment publication full of value investing nuggets and interviews with some of the best value investing firms. The newsletter was created by money manager Whitney Tilson and media executive John Heins. … Read More
Howard Marks Investor Series with Bruce Karsh
The Howard Marks Investor Series at The Wharton School brings high-profile investors to campus to share their real-world, practical investment perspectives. In this installment, Howard Marks speaks with Bruce Karsh. Both are co-founders of Oaktree Capital Management. Here’s the interview:
With $2.9 Trillion In Market Cap – Here’s How The 5 Tech Giants Make Their Billions
One of the top bloggers in our Top 50 Investing Blogs of 2017 is Visual Capitalist (VC). VC provides some of the best charts on the planet, covering a number of categories including investing. Last month VC produced a chart called, Here’s How 5 Tech Giants Make Their Billions. It’s a … Read More
James Montier: Markets Are Behaving Like The White Queen (Alice In Wonderland)
James Montier of GMO recently wrote a great paper called Six Impossible Things Before Breakfast, in which he discusses current market conditions and how we can make sense of today’s pricing. It’s a must read for all investors. Here’s an excerpt from that paper: I believe the markets are behaving … Read More
Mohnish Pabrai: How To Build Wealth Copying 9 Other Value Investors
One of our favorite investors at The Acquirer’s Multiple is Mohnish Pabrai. Earlier this year he wrote a great article called, Beyond Buffett: How To Build Wealth Copying 9 Other Value Investors. The article illustrates how you can build a successful portfolio by cloning other successful value investors. Here’s an … Read More
Tobias Carlisle: What To Do When The Market Punches You In The Mouth
One of my favorite investors is Tobias Carlisle, who is of course our esteemed leader here at The Acquirer’s Multiple. One of the best article ever written by him was one he wrote for Forbes called, What To Do When The Market Punches You In The Mouth. I thought today would … Read More
Warren Buffett: Berkshire Hathaway Has An Unprecedented $100 Billion In Cash, Here’s Why
Great article by Jeff Nielson at sprottmoney.com that highlights Buffett’s equity portfolio is valued at $135 billion. With $100 billion in cash, that means more than a 40% cash component, an unprecedented mountain of cash in the history of Berkshire Hathaway. The question is why? Here’s an excerpt from that article:
Warren Buffett: Classic Investing Wisdom From The Man Who Was Rejected By Harvard & Initially By Ben Graham
One of the best Buffett interviews was one he did with Economic Club President David M. Rubenstein, honoring the 25th Anniversary of The Economic Club of Washington, D.C.. This is classic Buffett, filled with humor and loads of investing nuggets:
Howard Marks: 7 Principles For Identifying Investment Opportunites
Howard Marks is a modern day Superinvestor like Seth Klarman and Mohnish Pabrai. His memos provide investors with a great deal of insight on investing strategy. One of our favorites memos was an Addendum he added to his third quarter client letter in 1994 in which he provides seven principles … Read More
(Month 8) TAM Deep Value Stock Portfolio Up 13.77% – Global Sources Ltd up 158%
Today is the end of Month Eight of The Acquirer’s Multiple – Deep Value Stock Portfolio, and the portfolio is up 13.77%, leading the comparative Russell 3000 Index by 2.44%, since inception. The plan is to build my portfolio over the next twelve months and ongoing. After twelve months I’ll have … Read More
50 Of The Best Investing Blogs On The Planet (2017)
Every year Tobias and I sit down to pick out fifty of the best investing blogs on the planet. This list is by no means complete and is certainly not in any particular order. If you’re an investor take some time to read through the great blogs on this list, they’ll … Read More
Jesse Livermore – 21 Investing Rules That Have Stood The Test Of Time For 77 Years
Before the modern day tweeter @Jesse_Livermore, there was a famous investing legend also called Jesse Livermore. The original Livermore was born in 1877 and died in 1940. Livermore was famous for making and losing several multimillion-dollar fortunes and short selling during the stock market crashes in 1907 and 1929. Livermore was an investing … Read More
A Value Investors Mecca Should Extend Beyond Omaha To Toronto And Prem Watsa
Great article in the AFR that suggests Omaha is not the only place that value investors are heading to for great ideas. It seems Denver and Toronto are becoming equally important destinations, as are the annual meetings of Markel Corporation and Fairfax Financial, as investors prepare for life after Buffett … Read More
America Is Great. Home Country Bias Ain’t (GMO)
Here’s a great article from the team at GMO that demonstrates how “home country bias” may be hurting your performance. Home country bias means investors have a natural tendency to focus their investments in companies and markets in their own country. Here’s an excerpt from that article:
Rob Arnott: How “Smart Beta” Investing Can Become Dumb Investing
One investor and writer that we follow closely here at The Acquirer’s Multiple is Rob Arnott. Arnott is the founder and chairman of Research Affiliates. He’s also the portfolio manager on the PIMCO All Asset and All Asset All Authority family of funds and the PIMCO RAE™ suite of funds. … Read More
Global Sources Ltd. (Bermuda) Up 48.96% Overnight
One of the stocks I added to the TAM Deep Value Stock Portfolio last month was Global Sources Ltd. (Bermuda) (NASDAQ:GSOL). Global Sources Ltd. is a business-to-business (B2B) media company that provides information and integrated marketing services, with a particular focus on the Greater China market. I wrote about the purchase in my … Read More