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The Acquirer"s Multiple®

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Berkshire Hathaway Q3 2025: Buffett’s Cash Fortress...

The Acquirer"s Multiple® ·

2025/11/03

Berkshire Hathaway entered the final stretch of 2025 with record liquidity, robust operating earnings, and its largest-ever move in the energy sector. The company reported that its “diverse group of businesses generated net operating cash flows of $34.8 billion” in the first nine months of the year, while “capital expenditures ... Read More

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Tesla, Inc. (NASDAQ: TSLA) Q3 2025 Earnings Call —...

The Acquirer"s Multiple® ·

2025/11/03

Elon Musk opened Tesla’s Q3 2025 earnings call by declaring that the company is “at a critical inflection point for Tesla and our strategy going forward as we bring AI into the real world.” He emphasized that “Tesla really is the leader in real-world AI,” adding, “No one can do ... Read More

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VALUE: After Hours (S07 E38): Small and microcap...

The Acquirer"s Multiple® ·

2025/11/03

During their recent episode, Taylor, Carlisle, and Adam Wilk discussed: Leon’s Furniture: Canada’s Durable Retail Giant APi Group (APG): A Hidden Leader in Fire and Life Safety Services The Chipmunk Analogy: Reputation, Risk, and Survival Small Cap Investing and Lessons from Scouting Greystone Capital’s Investment Philosophy Case Study: Natural Resource ... Read More

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Meta Platforms, Inc. (META): Our Calculation of...

The Acquirer"s Multiple® ·

2025/10/30

Each week we run a DCF (Discounted Cash Flow) model on a company from our watchlist. This week’s pick: Meta Platforms, Inc. (META). Profile Meta Platforms is the world’s leading social technology company, operating a family of apps including Facebook, Instagram, WhatsApp, and Messenger, alongside its emerging virtual and augmented ... Read More

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Weekly Investing Roundup – News, Podcasts, Interviews...

The Acquirer"s Multiple® ·

2025/10/30

This week’s best investing news: Howard Marks Memo: A Look Under the Hood (OakTree) Cliff Asness on Factor Investing and the History of Financial Economics (Hoover) Ray Dalio: Market is showing signs of a bubble (CNBC) The Rise of Alternatives (Verdad) A Conversation With Ken Griffin (Citadel) Paul Tudor Jones: ... Read More

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Global Ship Lease (GSL): Compelling Deep-value...

The Acquirer"s Multiple® ·

2025/10/30

As part of our ongoing series at The Acquirer’s Multiple, each week we spotlight a stock from our Stock Screeners that might be a deeply undervalued gem hiding in plain sight. This week’s spotlight is Global Ship Lease, Inc. (GSL) — a containership charter owner with long-term, fixed-rate contracts providing ... Read More

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VALUE: After Hours (S07 E37): Give Yourself a Longer...

The Acquirer"s Multiple® ·

2025/10/30

During their recent episode, Taylor, Carlisle, and Luca Dell’Anna discussed Give Yourself a Longer Time Horizon—or Only Bad Options Remain. Here’s an excerpt from the episode: Luca: Yeah. So, I always make the example of imagining that one day a mafia guy comes to you, and he says, “I will ... Read More

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Ray Dalio Warns of High “Bubble Indicator” and Rising...

The Acquirer"s Multiple® ·

2025/10/29

Ray Dalio’s recent comments on CNBC reveal the depth of his concern about current market dynamics and the potential formation of another major bubble. “There’s a lot of bubble stuff going on,” he began, noting that his proprietary “bubble indicator is relatively high.” The measure, he explained, “has to do ... Read More

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Rob Olstein Trims Major Holdings in Tech,...

The Acquirer"s Multiple® ·

2025/10/29

In the most recent Q3 2025 13F, Rob Olstein’s Olstein Capital Management L.P. made a series of sizable reductions across its equity portfolio, signaling a disciplined repositioning after a strong market run. Known for his focus on intrinsic value, free cash flow, and accounting quality, Olstein appears to have trimmed ... Read More

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VALUE: After Hours (S07 E37): Reproducible Success...

The Acquirer"s Multiple® ·

2025/10/29

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

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What Howard Marks Learned from a Pension Fund’s...

The Acquirer"s Multiple® ·

2025/10/29

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

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Energy and Financials Lead This Week’s Deep Value Screen

The Acquirer"s Multiple® ·

2025/10/29

Energy and Financials once again dominate the deep-value landscape in this week’s screen. On the Financials side, Synchrony Financial (SYF) leads with a razor-thin Acquirer’s Multiple (AM) of 2.4 and a ~36.1% FCF yield, while Bank of New York Mellon (BK) even appears at an extraordinary 0.5 AM, reminding investors ... Read More

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VALUE: After Hours (S07 E37): Irreversible Losses...

The Acquirer"s Multiple® ·

2025/10/29

During their recent episode, Taylor, Carlisle, and Luca Dell’Anna discussed Irreversible Losses Absorb Future Gains. Here’s an excerpt from the episode: However, if you crunch the numbers, the real expected number of wins is only 0.64. And the reason why of this big difference, 2 versus 0.64, is survival, because ... Read More

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Pzena: Why Small Caps Are Poised for a Multi-Year...

The Acquirer"s Multiple® ·

2025/10/27

In their latest Insight – Extreme Valuations & Durable Fundamentals: The Case for Small Caps Globally, Pzena Investment Management argues that the massive concentration of returns among a handful of mega-cap names has left small-cap stocks globally at “an attractive entry point relative to large caps.” Despite having risen more ... Read More

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Tesla, Inc. (TSLA) Q3 2025: Revenue Up 12%, Free Cash...

The Acquirer"s Multiple® ·

2025/10/27

Tesla’s Q3 2025 update highlights “record vehicle deliveries globally” and “record energy storage deployments,” which together drove “both record revenue and free cash flow generation in the quarter.” The company reported $1.6 billion GAAP operating income, $1.4 billion GAAP net income, and $1.8 billion non-GAAP net income, while operating cash ... Read More

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VALUE: After Hours (S07 E37): Performance Is...

The Acquirer"s Multiple® ·

2025/10/27

During their recent episode, Taylor, Carlisle, and Luca Dell’Anna discussed Performance Is Subordinate to Survival. Here’s an excerpt from the episode: And from him, I’ve learned the lesson that performance is subordinate to survival, that it’s not the fastest skier who wins the race, but the fastest one amongst those ... Read More

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Cliff Asness on Behavioral Investing: “Markets Are...

The Acquirer"s Multiple® ·

2025/10/27

In the Capitalism and Freedom Podcast, Cliff Asness traces a lifetime of market thinking shaped by both data and humility. “My entire career was in some sense a lucky break,” he said, recalling how he arrived at the University of Chicago in the late 1980s “when what we’ll today call ... Read More

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Guy Spier (Aquamarine Zurich AG) – Q3 2025 13F...

The Acquirer"s Multiple® ·

2025/10/27

In the most recent 13F filing, Guy Spier’s Aquamarine Zurich AG reported a portfolio valued at $317.37 million, with the top five holdings accounting for 77.64 % of total assets. A disciple of Warren Buffett and Mohnish Pabrai, Spier continues to run one of the most concentrated and quality-focused portfolios ... Read More

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VALUE: After Hours (S07 E37): Winning Long-Term Games...

The Acquirer"s Multiple® ·

2025/10/27

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

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Apple Inc. (AAPL): Our Calculation of Intrinsic Value

The Acquirer"s Multiple® ·

2025/10/23

Each week we run a DCF (Discounted Cash Flow) model on a company from our watchlist. This week’s pick: Apple Inc. (AAPL). Profile Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. Its flagship products — the iPhone, Mac, iPad, Apple Watch, and AirPods — ... Read More

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1,335 results