The Acquirers Podcast John Huber on the Magnificent 7, $COST, $GOOG, China, Small Caps and Small Banks | S07 E20
20 snips
Jun 12, 2025 
John Huber, an investor at Sabre Capital and author of the Base Investing blog, shares insights on value investing and long-term strategies. He discusses the competitive landscape in China, particularly for American firms like the 'Magnificent 7'. The conversation touches on the decline of Google click-through rates in favor of AI-driven tools and implications for content creation. Huber also emphasizes the importance of a long-term mindset in investing, the significance of high free cash flow, and shares lessons from historical market trends and downturns.
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Small Bank Meetings Offer Research Edge
- John attends small bank annual meetings, often finding few or no other investors present.
- This allows him to gain insight into capital allocation mindset beyond public filings.
Apple's Ecosystem Undervalued Early
- Apple's ecosystem value was initially underappreciated despite obvious brand power.
- Long-term thinking about the ecosystem revealed its strong moat and predictable cash flow.
Seek Durable Cash Flow and Discipline
- Look for stocks with high free cash flow yield, a durable business, and disciplined management.
- These traits create a reinvestment engine that compounds per-share value even if multiples don't expand.
