Acquirer’s Multiple Stocks Featuring In Soros, Pabrai, Greenblatt Portfolios

Acquirer’s Multiple Stocks Featuring In Soros, Pabrai, Greenblatt Portfolios

One of the new weekly additions here at The Acquirer’s Multiple features some of the top picks from our Stock Screeners and some top investors who are holding these same picks in their portfolios. Investors such as Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, and Howard Marks.

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The top investor data is provided from the latest 13F’s over at WhaleWisdom (dated 2017-09-30/2017-12-31). This week we’ll take a look at pick #7 in our Large Cap Stock Screener:

Hedge Fund Launches Jump Despite Equity Market Declines

Last year was a bumper year for hedge fund launches. According to a Hedge Fund Research report released towards the end of March, 614 new funds hit the market in 2021. That was the highest number of launches since 2017, when a record 735 new hedge funds were rolled out to investors. What’s interesting about Read More

Fiat Chrysler Automobiles NV (NYSE:FCAU)

A quick look at the price chart for Fiat Chrysler shows us that the stock is up 106% in the past twelve months. We currently have the stock trading at an Acquirer’s Multiple of 6.86 which means that it remains undervalued.


Top investors who currently hold positions in FCAU include:

Ruane Cunnif (Founded by Bill Ruane) – 25,061,340 total shares

Chase Coleman (Julian Robertson Tiger Cub) – 24,820,000 total shares

Bill Nygren – 23,160,000 total shares

Mohnish Pabrai – 13,109,310 total shares

Jeremy Grantham – 6,532,843 total shares

Jim Simons – 4,607,400 total shares

George Soros – 737,697 total shares

Joel Greenblatt – 51,146 total shares

For more articles like this, check out our recent articles here.

Article by Johnny Hopkins, The Acquirer' Multiple

Updated on

The Acquirer’s Multiple® is the valuation ratio used to find attractive takeover candidates. It examines several financial statement items that other multiples like the price-to-earnings ratio do not, including debt, preferred stock, and minority interests; and interest, tax, depreciation, amortization. The Acquirer’s Multiple® is calculated as follows: Enterprise Value / Operating Earnings* It is based on the investment strategy described in the book Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations, written by Tobias Carlisle, founder of The Acquirer’s Multiple® differs from The Magic Formula® Earnings Yield because The Acquirer’s Multiple® uses operating earnings in place of EBIT. Operating earnings is constructed from the top of the income statement down, where EBIT is constructed from the bottom up. Calculating operating earnings from the top down standardizes the metric, making a comparison across companies, industries and sectors possible, and, by excluding special items–earnings that a company does not expect to recur in future years–ensures that these earnings are related only to operations. Similarly, The Acquirer’s Multiple® differs from the ordinary enterprise multiple because it uses operating earnings in place of EBITDA, which is also constructed from the bottom up. Tobias Carlisle is also the Chief Investment Officer of Carbon Beach Asset Management LLC. He's best known as the author of the well regarded Deep Value website Greenbackd, the book Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014, Wiley Finance), and Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012, Wiley Finance). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law. Articles written for Seeking Alpha are provided by the team of analysts at, home of The Acquirer's Multiple Deep Value Stock Screener. All metrics use trailing twelve month or most recent quarter data. * The screener uses the CRSP/Compustat merged database “OIADP” line item defined as “Operating Income After Depreciation.”
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