The Intrinsic Value Podcast - The Investor’s Podcast Network
MI Rewind: A Rational Approach to Investing w/ Tobias Carlisle
Sep 27, 2024
Tobias Carlisle, founder of The Acquirer’s Multiple® and Acquirers Funds®, shares his journey from law to value investing, heavily influenced by legends like Warren Buffett. He discusses mean reversion, explaining its significance in investment strategies, and the importance of the Shiller PE ratio. Tobias dives into how inflation shapes his investment decisions and offers insights on an appropriate discount rate, including how it relates to Buffett's methodology. His approach emphasizes seeking deeply undervalued stocks to navigate today's market effectively.
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Quick takeaways
- Tobias Carlisle's journey into value investing was influenced by Warren Buffett's writings, which ignited his interest in business valuation rather than trading.
- His investment strategy is rooted in mean reversion, suggesting that undervalued stocks often rebound after disproportionate negative news reactions.
Deep dives
Journey to Value Investing
Toby Carlisle's journey to becoming a value investor began during his university years in Australia, where he was first introduced to Warren Buffett's writings. Initially skeptical of Buffett's approach, his curiosity was piqued by the depth of Buffett's insights into business and investing. Attracted by the idea of studying businesses for value rather than engaging in frequent trading, he found that value investing allowed for a more patient and analytical approach to investment. This foundational understanding of business valuation led him to eventually work in mergers and acquisitions, honing his skills and building the expertise necessary to create his own investment strategy.
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