The Acquirers Podcast

The hosts share insights from their journey exploring the investment landscapes of Tokyo and Shanghai. They discuss Japan's ongoing challenges in corporate governance and capital allocation, while highlighting unique opportunities in undervalued firms. The cultural contrasts between Japan and China are vividly illustrated, along with China's rapid tech evolution and the intense pressure on its entrepreneurs. Personal stories intertwine with reflections on global market dynamics, revealing complex perceptions and investment prospects in both regions.

Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. See our latest episodes at https://acquirersmultiple.com/podcastWe are live every Tuesday at 1.30pm E / 10.30am P.About Jake Jake's Twitter: https://twitter.com/farnamjake1Jake's book: The Rebel Allocator https://amzn.to/2sgip3lABOUT THE PODCASTHi, I'm Tobias Carlisle. I launched The Acquirers Podcast to discuss the process of finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations.We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success.SEE LATEST EPISODEShttps://acquirersmultiple.com/podcast/SEE OUR FREE DEEP VALUE STOCK SCREENERhttps://acquirersmultiple.com/screener/FOLLOW TOBIASWebsite: https://acquirersmultiple.com/Firm: https://acquirersfunds.com/ Twitter: https://twitter.com/GreenbackdLinkedIn: https://www.linkedin.com/in/tobycarlisleFacebook: https://www.facebook.com/tobiascarlisleInstagram: https://www.instagram.com/tobias_carlisleABOUT TOBIAS CARLISLETobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®.He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law.Prior to founding the forerunner to Acquirers Funds in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer. As a lawyer specializing in mergers and acquisitions he has advised on transactions across a variety of industries in the United States, the United Kingdom, China, Australia, Singapore, Bermuda, Papua New Guinea, New Zealand, and Guam. He is a graduate of the University of Queensland in Australia with degrees in Law (2001) and Business (Management) (1999).

Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. See our latest episodes at https://acquirersmultiple.com/podcastWe are live every Tuesday at 1.30pm E / 10.30am P.About Jake Jake's Twitter: https://twitter.com/farnamjake1Jake's book: The Rebel Allocator https://amzn.to/2sgip3lABOUT THE PODCASTHi, I'm Tobias Carlisle. I launched The Acquirers Podcast to discuss the process of finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations.We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success.SEE LATEST EPISODEShttps://acquirersmultiple.com/podcast/SEE OUR FREE DEEP VALUE STOCK SCREENERhttps://acquirersmultiple.com/screener/FOLLOW TOBIASWebsite: https://acquirersmultiple.com/Firm: https://acquirersfunds.com/ Twitter: https://twitter.com/GreenbackdLinkedIn: https://www.linkedin.com/in/tobycarlisleFacebook: https://www.facebook.com/tobiascarlisleInstagram: https://www.instagram.com/tobias_carlisleABOUT TOBIAS CARLISLETobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®.He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law.Prior to founding the forerunner to Acquirers Funds in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer. As a lawyer specializing in mergers and acquisitions he has advised on transactions across a variety of industries in the United States, the United Kingdom, China, Australia, Singapore, Bermuda, Papua New Guinea, New Zealand, and Guam. He is a graduate of the University of Queensland in Australia with degrees in Law (2001) and Business (Management) (1999).

John Rotonti Jr., a seasoned portfolio manager at Bastion Fiduciary, dives into the complexities of investing in industrials and infrastructure. He discusses the importance of holding cash reserves while targeting high-quality growth businesses. The conversation touches on the current housing market challenges and the impact of tech giants on affordable homes. Rotonti also analyzes Buffett's recent insights for Berkshire Hathaway and the implications of market inversions on future economic stability, underlining the necessity of strategic investments.

Andrew Wellington, a deep value investor and portfolio manager at Lyrical Asset Management, shares insights into his firm’s unique approach to valuing companies. He discusses strategies for identifying high-quality growth stocks that are undervalued and the importance of balancing diversification with concentration in portfolio construction. Wellington also delves into navigating cyclical investments, critiques market valuations, and reflects humorously on the journey of value investing while emphasizing the power of patience and fundamental financial analysis.

In this engaging discussion, neuroscientist Anne-Laure Le Cunff delves into her book 'Tiny Experiments,' advocating for a curiosity-driven approach to personal growth. She shares how structured experimentation can transform decision-making and emphasizes the importance of cognitive scripts in our behavior. Anne-Laure also reflects on her dual writing journey—balancing a PhD thesis with a book—and offers strategies to rethink procrastination as a chance for introspection. Her insights encourage embracing uncertainty and fostering innovation through small, mindful habits.

Ardal Loh-Gronager, the founder of Loh-Gronager Partners and author of "The Perceptive Investor," shares his insights on global equity investment and value investing. He discusses the crucial role of investing temperament and cognitive biases in success. Loh-Gronager emphasizes the importance of rigorous on-the-ground research in emerging markets, particularly in China. He draws fascinating parallels between spectrography and investment evaluation, while also exploring generational perspectives in China and Taiwan and the unique investment climates in South Korea and India.

Michael Gayed, Publisher of the Lead Lag Report, dives into investment strategy dynamics and market indicators. He discusses the tension between value and growth investing in a tech-centric world and critiques misleading economic narratives that affect public perception. Gayed also examines the divergence between small-cap stocks and credit spreads, reflecting on the implications of these signals for investors. With a touch of humor, he underscores the unpredictable nature of financial markets and the significance of navigating time in investing.

In this discussion, Alex Morris, author of "Buffett and Munger Unscripted," shares his insights into the investment strategies of Warren Buffett and Charlie Munger. He explores the evolution of value investing literature and the significance of capital allocation. The conversation delves into the shift in tech companies' capital expenditures, especially around AI, and highlights Berkshire Hathaway's unique approach to capital allocation. Additionally, Morris discusses trends in the alcohol industry, emphasizing changing consumer behaviors and investment dynamics.

Ian Cassel, a micro-cap investing expert, shares his insights on navigating the complexities of small and micro-cap investing, especially in the Canadian market. He emphasizes the skills that distinguish good stock pickers from the greatest, comparing it to Brazilian jiu-jitsu. Cassel also discusses the importance of valuing management and cultivating a watch list to enhance investment strategies. With anecdotes about mole rats, he humorously highlights resilience in investing and promotes a buy-and-hold approach, gearing up for an exciting microcap event in Las Vegas.