The Acquirers Podcast

Rudy Havenstein, a Senior Markets Commentator known for his insights on the Fed and housing markets, dives deep into economic complexities. He critiques the Federal Reserve's role in rising wealth inequality and connects it to the surge of cryptocurrency. The discussion takes a fascinating turn as they compare investment strategies to lizard behavior, illustrating market dynamics. Additionally, Rudy highlights the challenges of accountability in leadership and the community's role in driving change amid systemic financial issues.

Tim Travis, author of 'The Business Mindset Investor' and investment advisor, dives into the world of deep value investing and innovative income strategies. He elaborates on selling puts and covered calls, emphasizing the balance of risk and reward. The conversation touches on market trends, highlighting challenges in identifying worthwhile investments amid soaring valuations and speculative assets. Travis offers insights on psychological factors in client advisement and the impact of geopolitical events on investment decisions, providing a rich perspective on today's financial landscape.

Marcel Schwartz, a researcher from the Technical University in Munich, and Matthias Hanauer, a quant researcher at Rubico, discuss their collaborative work on formula investing strategies. They explore the effectiveness of various financial formulas, including the Piotroski F-score, in enhancing investment performance. The conversation highlights trends in market dynamics, the longevity of quality investing over value investing, and the surprising implications of passive investment on stock valuations. Prepare for insights that blend academia with practical investing wisdom!

Steven Wood from Greenwood Investors shares insights on distress and deep value investing, advocating for a constructivist approach. He discusses the vital role of ownership on corporate boards, emphasizing active involvement for better performance. The challenges posed by proxy advisory firms and the need for a new governance model are explored. Wood also connects the simplicity in nature to business strategies, and dives into the evolving luxury watch market, detailing Swatch's challenges and the impact of smartwatches on traditional brands. A fascinating mix of finance and strategy!

Rich Pzena, an investment legend and founder of Pzena Investment Management, shares insights from his 30-year journey in value investing. He discusses the parallels between today's market and the 1990s tech boom, emphasizing the importance of investing in undervalued companies. Pzena also delves into the complexities of assessing investments amidst technological changes, particularly with AI's impact on traditional sectors. His perspective on balance sheet analysis and managing client expectations offers valuable lessons for adapting to market volatility.

Bill Brewster, a savvy value investor and finance writer, joins the discussion to unpack the current market turmoil influenced by tariffs and China. They dive into the tech competition between the U.S. and China, touching on intellectual property concerns and the future of innovation. Brewster critiques modern monetary theory, emphasizing its impact on economic policy. The conversation also explores how tariffs affect consumer behavior and corporate strategies, all while grappling with the broader implications for the global economy.

In this engaging conversation, Barry Ritholtz, co-founder and chairman of Ritholtz Wealth Management and host of Bloomberg's Masters in Business, dives into the lessons from his book 'How Not to Invest.' He highlights major investment mistakes, from Enron to Madoff, underscoring the need for sound strategies. Ritholtz explores the modern risk landscape in hedge funds, critiques high-frequency trading, and examines market dynamics during downturns. He also draws intriguing parallels between ecological changes and economic policies to illustrate unintended consequences.

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).