Is It Time For Value Investing to Return to the Limelight?

Johnny HopkinsValue InvestingLeave a Comment

Here’s a great article from Peter Langerman at Franklin Templeton Investments where he discusses an optimistic outlook for value investing. Here’s an excerpt from that article: We believe macroeconomic developments in the United States and elsewhere could prove a fillip to value investing after several years of underperformance. The combination of suppressed interest rates and low volatility has contributed to … Read More

Jim O’Shaughnessy: 25 Timeless Lessons From 30 Years Of Value Investing

Johnny HopkinsJames O’ShaughnessyLeave a Comment

One of our favorite value investors here at The Acquirer’s Multiple is Jim O’Shaughnessy. O’Shaughnessy recently wrote an awesome series of tweets detailing twenty five investment lessons that he’s learned over thirty years of value investing. They’re a must read for all investors. With Jim’s permission here are his twenty five timeless investing lessons: 1/ I have been a professional … Read More

Seth Klarman: Successful Value Investing Requires A Multi-Strategy Approach

Johnny HopkinsSeth Klarman, Stock ScreenerLeave a Comment

Back in 2008 Columbia Business School celebrated the 75th anniversary of the publication of Benjamin Graham and David Dodd’s Security Analysis. The anniversary celebration, hosted by the Heilbrunn Center for Graham & Dodd Investing, consisted of a symposium featuring contributors to the sixth edition of Security Analysis, including David Abrams, Bruce Berkowitz, James Grant, Glenn Greenberg, Bruce Greenwald, Roger Lowenstein, Howard  … Read More

Barron’s: Are Value Stocks Ready To Grow Again

Johnny HopkinsValue InvestingLeave a Comment

Here’s a great article from Barron’s which discusses the future of value investing. Here is an excerpt from that article: Quick: Name a famous investor. Whether you thought of a celebrity like Warren Buffett, a less famous (but no less successful) hedge fund manager like Seth Klarman, or reached into the past for the likes of John Templeton or even … Read More

Forbes: Market Shift Coming – Value Stocks Overtake Growth In 2018

Johnny HopkinsValue Investing NewsLeave a Comment

Here’s a great article at Forbes that discusses the possibility of value investing overtaking growth in 2018. Here’s an excerpt from that article: Since March 2009, growth and value stocks have pushed the U.S. stock market forward, with the two categories swapping leadership along the way. Until 2017, that is, when growth left value in the dust. Now it looks … Read More

Market Volatility Is A Value Investor’s Best Friend

Johnny HopkinsValue Investing NewsLeave a Comment

Here’s a great article by Gary Smith at MarketWatch. Smith, the author of “Money Machine: The Surprisingly Simple Power of Value Investing” illustrates how market volatility provides great opportunities for value investors saying: “In fact, stock market volatility is a value investor’s best friend. Stock prices fluctuate far more than justified by the underlying fundamentals, in that the volatility of … Read More

Seth Klarman – Value Investing Is A Large-Scale Arbitrage Between Security Prices And Underlying Business Value

Johnny HopkinsSeth KlarmanLeave a Comment

The one book that all investors should read is Margin of Safety, by Seth Klarman. A new copy of Klarman’s book is going to set you back around $1000 on Amazon and used copies can be bought for around $750. But it’s money well spent if you wish to be a successful value investor. There’s a great piece in the … Read More

Successful Investing Is Achieved By Studying Other Successful Investors Who Do Things Very Differently To You – Bill Nygren

Johnny HopkinsBill NygrenLeave a Comment

One of the value investing firms that we follow closely here at The Acquirer’s Multiple is Oakmark Funds and portfolio manager, Bill Nygren. Nygren is a value investor who focuses on companies trading at what he considers to be a substantial discount to their true business value. He has been a manager of the Oakmark Select Fund since 1996, Oakmark Fund … Read More

Value Investing Woes Reflect Anxiety Among Equity Buyers

Johnny HopkinsValue Investing NewsLeave a Comment

A recent article at the Financial Times attempts to explain the present level of anxiety amongst equity buyers using the current value investing environment as an example: Here’s an excerpt from that article: It has become commonplace to ask how stock markets can be rallying when the world is confronted by so much uncertainty. Financial factors such as interest rates … Read More

Is Value Investing Broken? – Morningstar

Johnny HopkinsValue Investing NewsLeave a Comment

Just finished reading a great article titled – Is Value Investing Broken? – at Morningstar. The article demonstrates that while a value investing strategy can be difficult to stick to at times, it’s still a commonsense strategy that outperforms over time, based on the principle: cheap stuff outperforms expensive stuff over the long term. Here’s an except from the article: … Read More

Value Investing Having Its Worst Run Since The Financial Crisis – WSJ

Johnny HopkinsValue Investing NewsLeave a Comment

If you’re wondering why your value investing strategy is under-performing you’ll be interested in this interview by Charlie Turner at Your Money Matters and The Wall Street Journal’s Steve Russolillo regarding the current under-performance of value investing. Russolillo says value funds globally are on track to post their worst performance this year … relative to growth funds since before the financial … Read More

Seth Klarman – The Real Secret To Investing Is That There Is No Secret To Investing

Johnny HopkinsSeth KlarmanLeave a Comment

One of our favorite investors here at The Acquirer’s Multiple is Seth Klarman and one of the best articles ever written by Klarman is the comprehensive preface that he wrote in the 6th Edition of the value investing bible, Security Analysis. In his closing thoughts Klarman explains that as long as human beings chase instant wealth and effortless gain, value … Read More

Seth Klarman – Value Investing Is Like The E=mc2 of Money and Investing

Johnny HopkinsSeth KlarmanLeave a Comment

One of the best resources for investors are the Santangel Investor Forum and The Santangel Roundtable. These invitation-only events offer unique investment ideas from some of the world’s top investors. Events were created by The Santangel Review which also provides some great commentary on leading investors. My favorite commentary is called, The Collected Wisdom of Seth Klarman, which provides a compilation of … Read More

Joel Greenblatt – Value Investing Doesn’t Always Work, Which Is Precisely Why It Works

Johnny HopkinsJoel GreenblattLeave a Comment

One of the best reads for any investor is the book, Hedge Fund Market Wizards: How Winning Traders Win, by Jack Schwager. The book provides successful trading philosophies and strategies from fifteen traders who’ve consistently beaten the markets, one of which is Joel Greenblatt. In the book, Greenblatt discusses how he developed his Magic Formula and why value investing continues to work. … Read More

Seth Klarman – 13 Tips On How To Find Bargains

Johnny HopkinsSeth KlarmanLeave a Comment

One of the best resources for investors are the Santangel Investor Forum and The Santangel Roundtable. These invitation-only events offer unique investment ideas from some of the world’s top investors. Events were created by The Santangel Review which also provides some great commentary on leading investors. My favorite commentary is called, The Collected Wisdom of Seth Klarman, which provides a compilation of … Read More

Warren Buffett – How To Become An Intelligent Investor

Johnny HopkinsWarren BuffettLeave a Comment

The Berkshire Hathaway letters are one of the most valuable resources for value investors. One of my favorite letters is the 1996 letter in which Buffett provides some principles for becoming an intelligent investor. It provides some great insights into the types of businesses you should search for, how to identify competitive moats, the risks of overpaying for great businesses, … Read More

Value Investing Hits Back – Bloomberg

Johnny HopkinsValue Investing NewsLeave a Comment

Just read a great article by Nir Kaissar over at Bloomberg about the dominance of value stocks over growth stocks in 2016. Here’s an excerpt from that article: Value investing was supposed to be on the mat, waiting out its last few moments before it surrendered for good to growth stocks. But a curious thing happened in 2016; it got back up … Read More

John Neff – Why The Low P/E Strategy Works

Johnny HopkinsJohn NeffLeave a Comment

(Photo courtesy, investopedia.com) If it’s one thing we love at The Acquirer’s Multiple it’s value investors and John Neff is a legend in the world of value investing. Neff has referred to his investing style as a low price-to-earnings (P/E) methodology. He’s one of the best known mutual fund investors ever, notable for his contrarian and value investing style as well … Read More