During his recent interview with Tobias, Eric Cinnamond of Palm Valley Capital discussed Value Investing Parallels: The Late 1990s And Now. Here’s an excerpt from the interview: Q4 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Value Investing Parallels: The Late 1990s And Now Tobias: What are the parallels...
In this episode of The Acquirers Podcast Tobias chats with Eric Cinnamond of Palm Valley Capital. During the interview Eric provided some great insights into: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Eric Cinnamond - Small Value 2 - Absolute Return Small Cap Value Management And...
During his recent interview with Tobias, Andrew Walker, Portfolio Manager at Rangeley Capital discussed Why #neversell Is Cyclical. Here’s an excerpt from the interview: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Why #neversell Is Cyclical Tobias: Where do you fall on never sell or selling as a value...
During his recent interview with Tobias, Andrew Walker, Portfolio Manager at Rangeley Capital discussed Opportunities In SPACs. Here’s an excerpt from the interview: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Opportunities In SPACs Tobias: When I first encountered SPACs was probably a little bit more than a decade...
In his recent Q4 2020 Market Commentary, Bill Nygren discussed his review of 2020, the rise of Barstool Sports’ Dave Portnoy as the new market guru, his sum-of-the-parts valuation of Facebook, and how value investors can benefit from ‘strong opinions weakly held’. Here’s an excerpt from the commentary: Q3 2020...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Baby Carrots-Zugzwang. Here’s an excerpt from the episode: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Baby Carrots-Zugzwang Jake: With the popularity of the Queen’s Gambit and chess apparently is all the rage...
During his recent interview with Tobias, Andrew Wellington, Co-Founder and Managing Partner at Lyrical Asset Management discussed Never Rebalance & Rarely Trim. Here’s an excerpt from the interview: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Never Rebalance & Rarely Trim Tobias: Okay, that makes sense. You’ve got...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Stock Market Operators. Here’s an excerpt from the episode: Q3 2020 hedge fund letters, conferences and more Stock Market Operators Bill: I don’t know. Something that you said that when we talked that, you wanted to be...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Invincible Industrialists. Here’s an excerpt from the episode: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: Bill and I recorded a long-form podcast on Bill’s new podcast called The Business Brew,...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Treasure Hunting. Here’s an excerpt from the episode: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Treasure Hunting Jake: Anyway, all right. Our story starts with a Silver Star Vietnam air combat veteran....
In his 2014 Shareholder Letter, Liberty’s John Malone discussed a number of topics including finding opportunities in the ‘ambiguous middle’. Here’s an excerpt from the letter: Q3 2020 hedge fund letters, conferences and more Changes in technology and consumer behavior have always had a meaningful impact on our industry. This was...
On his recent Caltech Webinar, Charles Munger provided some great insights into the lifespan of today’s high-tech companies. His belief is that while these companies will enjoy success for a little time, eventually they will get clobbered. Here’s an excerpt from the webinar: Q3 2020 hedge fund letters, conferences and...
In his recent Caltech webinar, Charles Munger was asked, what are the traits of being a great investor? Here’s his response: Q3 2020 hedge fund letters, conferences and more Charlie: Obviously you have to know a lot. But partly it’s temperament. Partly it’s deferred gratification. You got to be willing to wait. Good investing requires...
In his recent interview on the InvestED Podcast, Jake Taylor, co-host on our Value After Hours Podcast provided a great hack on how to know if you have skill or you’re just lucky in investing. Here’s an excerpt from that interview: Q3 2020 hedge fund letters, conferences and more Taylor: One...
Here’s a great interview with Jeff Auxier on Value Investing Live, in which he discusses a conversation he had with Warren Buffett, who recommended that he get as far away from Wall Street and move on to a farm in order to have independence of thought. Here’s an excerpt...
During his recent interview with Tobias, Elliot Turner, Managing Partner at RGA Investment Advisors and Twitter guru discussed Low-Turnover Compounding. Here’s an excerpt from the interview: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: How do you characterize what you do now? How would you describe an...
In his April 2001 Shareholder Letter, Michael Burry issued a stern warning to his shareholders who may have been upbeat about the fact the Scion Value Fund had beaten the S&P 500 by 33.79%, five months following its inception. Here’s an excerpt from the letter: Q3 2020 hedge fund letters,...
In a recent interview with Aaron Edelheit on the mindsetvalue.substack, value manager and Founder of Hayden Capital Fred Liu discussed his value investing strategy and valuation process. He recommends not trying to forecast future cashflows but instead focusing on what the business is worth today and whether it can...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Buffett’s Hitting Coach Munger. Here’s an excerpt from the episode: Q3 2020 hedge fund letters, conferences and more Buffett's Hitting Coach Munger Tobias: I’ve said this to you guys before, but I think that Munger is one...
As part of our ‘Best of 2020 Acquirers Podcast Series’, earlier this year Tobias had a great interview with John Huber, Managing Partner at Saber Capital Management, an investment fund modeled after the original Buffett partnerships. Saber’s strategy is to make very carefully selected investments in undervalued stocks of...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Long-Lived Instos. Here’s an excerpt from the episode: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Long-Lived Instos Jake: All right, veggie time. So, this segment is called The Data of Long-lived Institutions,...
In this interview with Reuters, Bill Ackman provides some great insights into why investors should remain concentrated and not diversify. Here’s an excerpt from that interview: Q3 2020 hedge fund letters, conferences and more I’ve always had the view that why not own the best ten or eleven investments as opposed...
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