Our Raul Panganiban recently interviewed Toby or Tobias Carlisle, a famed author, investor, and thinker . Toby is out with a new book, check out more details from Raul (who is right now in London at the Pershing Square meeting),but first, Toby is giving away a copy of his book you can enter the contest right here.
Today is very special episode. I have Tobias Carlisle talk about all aspects of investing and his new book on valuation The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market
Also check out the website for lots of resources!
At the end of last week, Bruce Greenwald, the founding director of the Heilbrunn Center for Graham and Dodd Investing at Columbia Business School, sat down for a Fireside Chat with Li Lu, the founder and chairman of Himalaya Capital as part of the 13th Columbia China Business Conference. The chat spanned many different topics, Read More
Below the audio embed is a table of contents of the interview, followed by more info on the book – enjoy!
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1:17 Tell what led you down the investment path and what interested you the most?
3:35 What do you enjoy most about what you do?
5:37 What is your investment philosophy and investment strategy?
9:13 What would you say is the underlying principles of your strategy?
11:09 How did you develop it and come about it?
17:11 What are value traps?
18:45 How does the acquirer’s multiple differ from the PE and other multiples?
21:31 What is the margin of safety and how should it be applied?
22:39 What is mean reversion?
27:18 Can you go over the 9 rules of deep value?
30:53 What are your views on portfolio diversification and concentration?
36:27 How do you define and manage risk?
37:34 What are your favorite books?
39:16 What are your favorite finance articles?
40:00 What are your favorite hobbies?
40:37 Where can people find more information on you?
42:10 Thoughts on bitcoin and crypto?
Thank you for the listen and enjoy!
Yhe Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market is an easy-to-read account of deep value investing. The book shows how investors Warren Buffett, Carl Icahn, David Einhorn and Dan Loeb got started and how they do it. Carlisle combines engaging stories with research and data to show how you can do it too. Written by an active value investor, The Acquirer’s Multiple provides an insider’s view on deep value investing. The Acquirer’s Multiple covers:
- How the billionaire contrarians invest
- How Warren Buffett got started
- The history of activist hedge funds
- How to Beat the Little Book That Beats the Market
- A simple way to value stocks: The Acquirer’s Multiple
- The secret to beating the market
- How Carl Icahn got started
- How David Einhorn and Dan Loeb got started
- The 9 rules of deep value
The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market provides a simple summary of the way deep value investors find stocks that beat the market.