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The Acquirer"s Multiple®

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Bill Ackman: HHH Is Well Positioned To Implement A...

The Acquirer"s Multiple® ·

2025/08/28

Pershing Square Holdings delivered strong performance in the first half of 2025, with its NAV per share, including dividends, increasing 15.5%, compared with a 6.2% return for the S&P 500 over the same period. Chairman Rupert Morley noted that “the Board is pleased to report that PSH delivered strong absolute ... Read More

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Mohnish Pabrai’s Mental Models

The Acquirer"s Multiple® ·

2025/08/28

The notion that starting a business is a high-risk endeavor is a pervasive myth, one that Mohnish Pabrai directly refutes. During his recent interview on the DOAC Podcast he argues that true entrepreneurs are not gamblers but masterful risk mitigators. “In reality, entrepreneurs do not take risk. They do everything ... Read More

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Why Top Investors Are Buying Microsoft Corp (MSFT)

The Acquirer"s Multiple® ·

2025/08/28

In their most recently reported quarter, several renowned institutional investors boosted their positions in Microsoft, signaling strong conviction in the software and cloud giant’s enduring growth trajectory. As Microsoft continues to dominate enterprise IT with Azure, expand AI integration through OpenAI partnerships, and sustain robust cash flow from Office and ... Read More

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Tom Gayner: “We’re Marathoners, Not Sprinters”

The Acquirer"s Multiple® ·

2025/08/28

In the realm of long-term investing, few philosophies are as tested as the commitment to rational capital allocation and patience. Tom Gayner, CEO of Markel Group, embodies this approach, stating in his recent interview with Barron’s that his firm’s strategy is to “make good rational capital allocation decisions. Run it to ... Read More

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This Week’s Large Cap Acquirer’s Multiple® Screen:...

The Acquirer"s Multiple® ·

2025/08/28

Acquirer’s Multiple® Screen shows continued dominance from Integrated Oil & Gas companies but with Financials firmly joining the ranks of deep-value leaders. From Petrobras (PBR) trading at an Acquirer’s Multiple (AM) of 4.0 with a staggering 36.8% free cash flow yield, to Bank of New York Mellon (BK) at just 1.7 AM and consistent shareholder returns, the value case in energy and ... Read More

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Howard Marks: Fewer Losers Not More Winners

The Acquirer"s Multiple® ·

2025/08/28

In a recent appearance on the podcast My First Million, legendary investor Howard Marks offered a powerful reminder that the greatest risks in investing stem from investor behavior, not from the securities themselves. This is captured in his warning: “The riskiest thing in the world is the belief that there’s ... Read More

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Bill Ackman Rotates Out of Canadian Pacific, Into Amazon

The Acquirer"s Multiple® ·

2025/08/28

Bill Ackman’s Pershing Square Capital Management reported a notable portfolio shift this quarter: a full exit from Canadian Pacific Kansas City (CP), once one of his hallmark investments, and the establishment of a new multibillion-dollar stake in Amazon (AMZN). The End of a Signature Bet Ackman sold Pershing Square’s entire 14.8 million ... Read More

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Jim Chanos: Investors Are A Pretty Predictable Bunch...

The Acquirer"s Multiple® ·

2025/08/28

Jim Chanos, in his conversation with the Institute for New Economic Thinking, offers a sobering reminder that while technology advances at a breakneck pace, human nature remains a constant, often to our financial detriment. He draws direct parallels between today’s speculative mania and past booms, viewing the current landscape as ... Read More

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VALUE: After Hours (S07 E27): Eric Cinnamond on small...

The Acquirer"s Multiple® ·

2025/08/22

In their latest episode of the VALUE: After Hours Podcast, Tobias Carlisle, Jake Taylor, and Eric Cinnamond discuss: Small-Cap Value’s Four-Year Struggle The Buyback Effect on Large-Cap Dominance AI Hype vs. Reality Profit Margins: The Haves and Have Nots Consumer Weakness and the Affordability Crisis Mirages, Market Psychology, and the ... Read More

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Berkshire Hathaway’s Buys and Sells: Portfolio Shifts...

The Acquirer"s Multiple® ·

2025/08/22

Berkshire Hathaway’s most recent 13F filing shows a portfolio dominated by familiar blue-chip names but with some telling adjustments. While Warren Buffett’s team largely held steady in core positions, the quarter still featured notable trims in mega-cap holdings alongside selective additions. Significant Sells The filing revealed several reductions in Berkshire’s ... Read More

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Weekly Investing Roundup – News, Podcasts,...

The Acquirer"s Multiple® ·

2025/08/22

This week’s best investing news: Mohnish Pabrai – Fastest Way To Financial Freedom (DOAC) Oaktree’s Howard Marks Says Stocks Are in Early Days of a Bubble (Bloomberg) Inside Aswath Damodaran’s Personal Portfolio (Excess Returns) 3 Ways to Boost International Equity Exposure (GMO) Can the Stock Market Cause a Recession? (Ben Carlson) The Crocodile Will Soon ... Read More

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Nick Train Top Portfolio Trims: Consumer Staples,...

The Acquirer"s Multiple® ·

2025/08/21

Here’s a breakdown of Nick Train’s (Lindsell Train Ltd) Top 5 Sells by % Change as of June 30, 2025, based on the latest 13F filings data, with strategic commentary aligned to his brand-focused value investing style: Top 5 Sells by % Change – Q2 2025 Lindsell Train Ltd (Nick Train) Total ... Read More

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Why Top Investors Are Buying (GOOGL) ALPHABET INC-CL A

The Acquirer"s Multiple® ·

2025/08/21

In their most recently reported quarter, several renowned institutional investors increased their exposure to Why Top Investors Are Buying (GOOGL) ALPHABET INC-CL A, highlighting broad conviction in the search and AI leader’s long-term growth story. As Alphabet cements its position at the forefront of digital advertising, cloud computing, and generative ... Read More

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Howard Marks: Why It’s Time to Put More Defense in...

The Acquirer"s Multiple® ·

2025/08/21

Investors are grappling with a central question: why are asset prices so strong in the face of what many view as net negative developments? During his recent interview with Bloomberg, Howard Marks offers a clear perspective, noting that “stocks are expensive relative to what I call fundamentals or you might ... Read More

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Weekly Investing Roundup – News, Podcasts,...

The Acquirer"s Multiple® ·

2025/08/15

This week’s best investing news: Howard Marks – The Calculus of Value (OakTree) Cliff Asness – There Ain’t No Such Thing as a Free Lunch (AQR) Bloomberg Wealth: Lee Ainslie (Rubenstein) Oakmark Fund’s Bill Nygren discusses the markets and his picks (CNBC) OakTree – Still Special? (OakTree) Some Bad News and Some Good News (Carson) Structured ... Read More

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Bill Nygren’s Case for Value Investing in a Top-Heavy...

The Acquirer"s Multiple® ·

2025/08/14

During his recent interview with CNBC, Bill Nygren made a compelling argument for overlooked value opportunities. His strategy hinges on companies trading at steep discounts to the S&P 500’s inflated multiples, with a focus on share repurchases as a catalyst for growth. “The stock’s down at about five times earnings,” ... Read More

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This Week’s Large Cap Value Standouts: Energy...

The Acquirer"s Multiple® ·

2025/08/14

This week’s Large Cap Acquirer’s Multiple® Screen leaves little doubt about where the market’s deepest large-cap bargains are hiding — Integrated Oil & Gas Exploration & Production sits firmly at the top. From Equinor (EQNR) with an Acquirer’s Multiple (AM) of just 2.6 and a free cash flow yield near 12%, to Petrobras (PBR) with a 4.0 AM and one of the ... Read More

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Tom Gayner Top Portfolio Trims: Packaging,...

The Acquirer"s Multiple® ·

2025/08/14

Here’s a breakdown of Tom Gayner’s (Markel Group Inc.) Top 5 Sells by % Change as of June 30, 2025, based on latest 13F filings data, with strategic commentary aligned to his long-term value investing style: Top 5 Sells by % Change – Q2 2025 Markel Group Inc. (Tom Gayner) Total Portfolio ... Read More

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Lee Ainslie’s Strategy: Conviction, Management, and...

The Acquirer"s Multiple® ·

2025/08/14

For Lee Ainslie, founder of Maverick Capital, investing success hinges on three pillars: rigorous research, management quality, and the discipline to hold convictions while admitting mistakes. “We’re simply trying to understand the dynamics behind different stocks, identify those that we think are long-term winners and long-term losers,” he explains. This ... Read More

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VALUE: After Hours (S07 E26): The Tyranny of The Few

The Acquirer"s Multiple® ·

2025/08/13

During their recent episode, Taylor, Carlisle, and Gwen Hofmeyr discussed Valuation, Cyclicality, and Robotics Potential. Here’s an excerpt from the episode: Gwen: So, valuation. Yeah, I think they’re trading about €67. So, their last high was around €110. So, I guess they’re about 40% off their prior high. It’s in a ... Read More

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1,354 results