Investing Strategy
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- Chuck Royce: Deep Value Investing Using Enterprise Value To EBIT As A Valuation MetricOne of the investors we like to follow closely here at The Acquirer’s Multiple is Chuck Royce and his team at The Royce Funds. The Royce Funds recently released their commentary…
- Seth Klarman: Value Investing In Bull MarketsAccording to CNBC (August 22, 2018) we are currently in the midst of the longest bull market in history, since World War II: The current bull market rally, which started March 9…
- Mario Gabelli: There Are No Such Things As “Can’t Miss” Stocks. Habits evolve, Technologies Change, And Companies Mature. It’s A Cycle As Old As Capitalism ItselfMario Gabelli recently released his Q2 2018 shareholder letter. Gabelli reported for the quarter ended June 30, 2018, the net asset value (“NAV”) per Class A Share of The Gabell…
- Mohnish Pabrai: Volatility Is The Friend Of A Long-Term InvestorHere’s a great recent interview with Mohnish Pabrai at The Economic Times. Pabrai discusses how he finds opportunities in todays bull market, portfolio concentration, his invest…
- Howard Marks: The Refusal To Catch A Falling Knife Is A Rationalization For Inaction. It’s Our Job To Catch Falling Knives. That’s How You Get Bargains!Here’s a great interview (below) with Howard Marks at the Wharton School of the University of Pennsylvania (2018). Marks was asked his thoughts on distressed debt investing, mar…
- Steven Cohen: Investors Take Note! Model-Driven Companies Will Accelerate Away From The Pack Now That Software Has Become UbiquitousOne of the investors we follow closely here at The Acquirer’s Multiple is Steven Cohen, founder and chairman at Point 72 Asset Management. According to their last reported 13F f…
- Michael Burry: Risk Is Not Defined By Volatility, But Rather By Ill-Conceived InvestmentOne of the investors we like to follow closely here at The Acquirer’s Multiple is Michael Burry, founder of Scion Asset Management, a company he liquidated in 2008 to concentrat…
- Philip Carret: “If The Figures Look Right And The Management Knows What It Is Doing, Why Does One Need A 40-Page Report?”One of our favorite investors here at The Acquirer’s Multiple is Philip Carret. Carret wrote one of the best books on investing called – A Money Mind at Ninety. There’s a great …
- Warren Buffett (Age 21): The Security I Like Best (1951)Here’s a great article written by the 21-year-old Warren Buffett for The Commercial and Financial Chronicle dated Thursday, December 6, 1951. The article is a great illustration…
- Walter Schloss: All Superinvestors Make Mistakes Of OmissionThe Annual Ben Graham Conference was held earlier this year and the topic was – investing mistakes. The panel members were Edwin Schloss, son of Walter Schloss, Paul Lountzis – …
- Jim Rogers: “Anytime That You Think You’ve Become A Financial Genius—It Is Time To Sit Back And Do Nothing For A While”One of our favorite investing books here at The Acquirer’s Multiple is – A Gift to My Children: A Father’s Lessons for Life and Investing, by Jim Rogers. Rogers co-founded the s…
- Warren Buffett: How to Minimize Investment ReturnsIn their Berkshire Hathaway 2005 shareholder letter Warren Buffett provided a great illustration of how shareholders continually sabotage their investment returns saying: “Long …
- Alexander Roepers: Why Disciplined Investing Trumps Big HeadlinesOne of the activist investors we follow closely here at The Acquirer’s Multiple is Alexander Roepers. Earlier this year Roepers did a great interview with Forbes in which he dis…
- David Einhorn: “Right Now The Market Is Telling Us We Are Wrong, Wrong, Wrong About Nearly Everything”David Einhorn recently released his Q2 2018 shareholder letter. It’s been another difficult quarter for Greenlight Capital losing an additional (5.4)%, and bringing the Greenlig…
- Howard Marks: Very Few Investors Consistently Know When A Stock Price Is Wrong, And By How Much, And In Which DirectionHoward Marks provides a great reminder in his 2001 shareholder letter that it takes a lot more than hard work for active managers to be successful in investing. He added that in…
- Warren Buffett: “The Worst Deal That I’ve Made”We’ve just been listening to a great podcast at NPR with Michael Batnick discussing his new book – Big Mistakes: The Best Investors and Their Worst Investments. During the conve…
- Horizon Kinetics: Great News For Active Investors – The History Of Passive Investing Over The Past 20 YearsOne of the shareholder letters we really look forward to reading is the one from Horizon Kinetics. In their recently released Q2 2018 letter Horizon Kinetics provides some inter…
- Dan Loeb: Growth Stocks Are Now Value StocksOne of the investors we follow closely here at The Acquirer’s Multiple is Dan Loeb, CEO at Third Point Management. In his latest Q2 2018 shareholder letter Loeb makes the point …