The Acquirers Podcast

Matthew Fine, a seasoned portfolio manager at Third Avenue Value Fund, dives deep into value investing strategies honed since the dot-com bubble. He discusses navigating the complexities of changing markets, emphasizing financial stability and corporate governance. Fine elaborates on Third Avenue's contrarian approach, uncovering undervalued opportunities in the auto sector amidst shifting dynamics, especially with electric vehicles. The conversation also sheds light on the offshore energy market's current challenges, providing insights into future investment possibilities.

Ben Beneche, co-founder of Tourbillon Partners, shares his insights as a global investor in durable businesses. He dives into the unique characteristics that make smaller and mid-sized companies resilient. Discussions include portfolio construction and the importance of cash flow, along with the cultural aspects of Japanese companies. Beneche also examines market dynamics in Japan's drugstore sector and the growth potential of Howden Joinery in the UK. Finally, he offers strategies for finding undervalued stocks, focusing on high-quality investments with a margin of safety.

George Livadis, founder of Upslope Capital in Denver, shares insights from his journey in finance, detailing his transition from investment banking to hedge fund management. He discusses short selling mid-cap stocks and the importance of adaptive strategies during market fluctuations. The conversation highlights the rise and fall of Nortel Telecommunications, providing valuable lessons for current investors. Livadis also analyzes Apple’s product evolution, Nvidia's market dominance, and the complexities of the housing market, weaving personal anecdotes with financial expertise.

Mike Meixler, an experienced investor specializing in retirement strategies, shares his insights on niche real estate investments, including airplane hangars. He discusses the importance of resilience in companies, illustrated by the cockroach theory, and navigates the complexities of value traps in resource investing. The conversation also touches on gold's historical role as a safe haven, the implications of rising national debt, and the potential return to a gold standard. Meixler emphasizes disciplined investment approaches and the impact of human behavior on market trends.

Conor Maguire, a special situations investor from Dublin, shares his insights into undervalued European and UK equities. He discusses the post-COVID landscape of bankruptcy and the rise of private credit, offering investment opportunities amid market concerns. Maguire highlights the potential of a UK automotive parts company to revitalize value through strategic spin-offs. Additionally, he explores OCI's market restructuring in response to natural gas price fluctuations and explains how understanding Ikigai can align passion with investment success.

Brendan Hughes, author of "Markets in Chaos" and a finance pro at a Maryland-based RIA firm, delves into the lessons from historic market crises. He discusses how businesses fared during the COVID-19 pandemic and draws parallels to past financial disasters. The conversation covers Jensen's inequality's impact on investment strategies, the significance of understanding fat tails in risk assessment, and how government interventions can shift market dynamics. Hughes also highlights the ongoing relevance of market bubbles and the risks posed by passive investing.

In this discussion, guest Doug Ott, an expert in investment and finance, unpacks the competitive strategies of insurance brokerage firms, focusing on Arthur J. Gallagher's consolidation methods. He delves into long-term investment opportunities, emphasizing the attributes that make companies ideal for value compounding. The talk also explores Mettler-Toledo's stronghold in the life sciences sector and Pool Corp's cycling market dynamics, illustrating how emotional connections to products can drive investment strategies. A fascinating blend of finance and real-world insights awaits!

In this engaging discussion, guest Alex Morris, an expert on value investing, breaks down the intricate science of hitting and its surprising parallels to financial strategies. The conversation navigates the rollercoaster world of energy drinks, focusing on Monster's competitive landscape and its partnership with Coca-Cola. The hosts also unpack retail resilience in the face of inflation, Floor & Decor’s market position, and the cyclical nature of housing. Insights into consumer behavior and industry challenges offer a rich tapestry of investment wisdom.

Vincent Daniel, a financial markets expert, and Porter Collins, an experienced investor, dive deep into market trends. They compare today's economy to the pre-2007 crash, emphasizing cautious optimism. The duo explores investment strategies, focusing on undervalued assets and the significance of gold amid rising U.S. debt. They discuss the shift towards simplified trading mindsets among new investors and reflect on historical figures like Wilberforce and Volcker, highlighting their legacies in economic stability and justice.

Whit Huguley, a savvy microcap investor, delves into his unique investment journey, influenced by key literature in finance. He explains the significance of navigating market inefficiencies, especially in microcap sectors. The discussion highlights the complexities of computational irreducibility and its implications for investing. Huguley shares insights on his investment in GreenFirst, exploring its recent performance amidst global events, and emphasizes strategic capital allocation in lumber prospects and healthcare investments.