Summary In this episode of The Acquirer’s Podcast Tobias chats with Peter Simpson-Morgan, a legendary Australian fund manager who ran Perpetual managing $13 billion dollars until he started his own firm 452 Capital. Peter provided some great insights into: Image source: YouTube Video Screenshot Q1 hedge fund letters, conference, scoops etc The Differences [...]
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of [...]
In 2009 Charlie Munger did a great interview with The Stanford Lawyer. During the interview Munger discusses the skills of great investors, mistakes that he sees executives making, and the problem with banks increasing leverage in order to remain competitive saying. Here’s an excerpt from the interview: Q2 hedge fund [...]
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of [...]
During his recent interview with Tobias, Peter Rabover, who is the Portfolio Manager at Artko Capital LP, discusses how investor biases can cause you to miss some of the best opportunities. Here’s an excerpt from the interview: Q1 hedge fund letters, conference, scoops etc Image source: YouTube Video Screenshot Tobias Carlisle: So [...]
During his recent interview with Tobias legendary Australian fund manager Peter Simpson-Morgan, who ran Perpetual, discusses the small investor advantage and the importance for investors to be able to make their own investing decisions saying: Q2 hedge fund letters, conference, scoops etc Image source: YouTube Video Screenshot Tobias Carlisle: How was that [...]
During his recent interview with Tobias, Peter Rabover, who is the Portfolio Manager at Artko Capital LP, discusses how micro-cap investing is like quasi private equity investing and how that provides significant ‘early’ investment opportunities. Here’s an excerpt from the interview: Q1 hedge fund letters, conference, scoops etc Image source: YouTube [...]
Here’s a great excerpt from Daniel Kahneman’s Keynote Address at the Amundi World Investment Forum – AmundiWIF19. Kahneman provides his thoughts on whether investors can develop expertise in picking stocks saying: Q2 hedge fund letters, conference, scoops etc Confidence & Expertise Can you develop expertise in picking stocks? This is very doubtful. In [...]
Here’s a great passage from Poor Charlie’s Almanac in which Charlie Munger provides some sage advice on how one can become a better investor saying: Q1 hedge fund letters, conference, scoops etc “How do some people get wiser than other people? Partly it is inborn temperament. Some people do not have [...]
We’ve just been listening to a great interview with Seth Klarman’s protégé David Abrams on the Value Investing With Legends podcast in which Abrams discusses why investors need to use a multi-path approach to business valuation and analysis. Here’s an extract from the interview: Q1 hedge fund letters, conference, scoops [...]
Summary In this episode of The Acquirer’s Podcast Tobias chats with Perth Tolle, who is the Founder of Life + Liberty Indexesand the Freedom 100 Emerging Markets Index. Perth provides some great insights into how investors can find opportunities in emerging markets utilizing the human freedom index. Other topics include: Image [...]
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of [...]
Here’s a great interview with Mohnish Pabrai and The London Business School. During the interview Pabrai discusses his stock selection process, which he says starts with getting rid of new investment opportunities for the flimsiest possible reason. Here’s an excerpt from the interview: Q1 hedge fund letters, conference, scoops etc Mohnish [...]
We’ve just been reading through the Winter 2009 issue of the Graham and Doddsville Newsletter which includes a great passage by Bruce Greenwald on the three attributes that make a truly great investor saying: Q1 hedge fund letters, conference, scoops etc Bruce Greenwald: There are three things that Buffett is good [...]
During his recent interview with Tobias, Bill Brewster, who runs Sullimar Capital Group demonstrates how Phil Fisher’s scuttlebutt can still be used to find great opportunities today. Here’s an excerpt from the interview: Q1 hedge fund letters, conference, scoops etc Image source: YouTube Video Screenshot Tobias Carlisle: Let’s talk about Ubiquiti. What’s [...]
Here’s a great extract from Nassim Taleb’s book – Fooled By Randomness in which he illustrates how some investors are perceived as being ‘great’, when in actual fact they simply started investing at the best possible moment. But as time moves on it becomes apparent that their ‘strategies’ are [...]
Following is a May 1952 memo written by Walter Schloss which outlines his criteria for liquidations where money is held by a company: Q1 hedge fund letters, conference, scoops etc You can find the original document here: Walter Schloss: Criteria For Liquidations Where Money Is Held By Company For more articles like [...]
Twenty years ago in the spring of 1999, Piper Jaffray’s Daniel J. Donoghue, Michael R. Murphy and Mark Buckley*, produced a research report called Wall Street’s Endangered Species (incredibly, the link is still live 20 years later) that was hugely influential on my investment process. The thesis of the [...]
Following is an excerpt from Michael Burry’s MSN Case Studies in which he provides some great advice for investors who are tempted to take increased risks in order to dig themselves out of a hole, saying: Q1 hedge fund letters, conference, scoops etc A key phenomenon driving the recent stock market advance [...]
During his recent interview with Tobias chats with Jim O’Shaughnessy, best selling author and Co-Chief Investment Officer at O’Shaughnessy Asset Management (OSAM), discusses why there will always be investment opportunities as long as human beings price securities. Here’s an except from the interview: Q1 hedge fund letters, conference, scoops etc Image [...]
At his recent presentation at Trinity College in Dublin, Mohnish Pabrai explained how investors can take advantage when markets get confused between risk and uncertainty, saying: Q1 hedge fund letters, conference, scoops etc If you have a business which exhibits very high uncertainty then that business generally will get very extreme [...]
We’ve just been re-reading Michael Mauboussin’s book – The Success Equation. There’s a great passage in the book with discusses investor psychology, and some of the findings of Daniel Kahneman and Amos Tversky. There’s also an great explanation of one of Seth Klarman’s most famous investing quotes: Q1 hedge fund [...]
