A modern investing classic the main point of deep value is reversion to the mean is a very powerful concept in investing. It takes a lively look at a variety of value investing strategies starting with the father of security analysis, ben graham. I was recently talking with tobias carlisle, author of deep value. Tobias carlisle has hit a home run deep over left field. The acquirers multiple is an easytoread account of deep value investing. Quantitative value, margin of safety klarman value investing montier and for special projects. After hours podcast taylor, brewster, and carlisle discuss restoration hardware and some reasons why warren. Deep value investing and unexplained returns by jeffrey oxman. Jan 01, 2014 a modern investing classic the main point of deep value is reversion to the mean is a very powerful concept in investing. Written by an investor with a long and remarkable track record, it shares for the first time the ins and outs of finding highpotential undervalued stocks before anyone else. Classic value investing, modern value investing, contrarian investing, deep value investing, classic graham investing. Deep value investing returns acquirers multiple january 2, 1999 to november 29, 2017 tobias carlisle may 29, 2016 study 38 comments updated november 29, 2017. Why activist investors and other contrarians battle for control of losing corporations is a mustread exploration of deep value investment strategy.
Why activist investors and other contrarians battle for control of losing corporations. He is also the ceo of tactica capital management, a boutique firm engaged in deep value investing. How the billionaire contrarians of deep value beat the market is an easytoread account of deep value investing. The book shows how investors warren buffett, carl icahn, david. The incredible insight is that even if valuation ratios are practically the same, stocks that. Market from the intelligent investor, preface from the book, deep value by tobias carlisle, and. Carlisle, coauthor of a book i put on investors must read list quantitative value, is back with another compelling volume, deep value. The book combines engaging anecdotes with industry research to illustrate. The price of the book is expensive, but it is well worth it.
It outlines how individual investors can vastly outperform simple index strategies. Written by tobias carlislean active value investor and the wellknown blogger at this important resource describes the evolution of the various theories of intrinsic value and activist investment from benjamin graham to warren buffett to carl icahn and beyond. How the billionaire contrarians of deep value beat the market, he codified his thinking about deep value investing into eight simple rules. Why activists investors and other contrarians battle for control of losing corporations wiley. Deep value investing by jeroen bos is an incredibly candid and revealing guide to the secrets of deep value investment. The acquirers multiple how the billionaire contrarians of. Why activists investors and other contrarians battle for control of losing corporations 2014, wiley finance, and quantitative value. Having worked most of my working life in australia with ron brierley and subsequently as an analyst in canada focused on value oriented investing, i believe that tobias has produced an excellent assessment of the investment analysis methodology used by some of the finest minds, supported it with quantitative data and highlighted the proven record of using. Why activist investors and other contrarians battle for control of losing corporations is a mustread exploration of.
Following up on his previous emphasis on simple rules for investors, tobias carlisle turned in chapter 12 to the basics. Greenbackd deep value, contrarian, and grahamite investment. Pdf deepvalue investing, fundamental risks, and the margin. We detail the returns generated from a net nets strategy implemented from 1984 2008, and then attempt to. Why activist investors and other contrarians battle for control of losing corporations is a mustread exploration of deep value investment strategy, describing the evolution of the theories of valuation and shareholder activism from graham to icahn and beyond. Dec 20, 2019 in his excellent book deep value, tobias carlisle shows insightful statistics for these portfolios. He is the author of the bestselling book deep value. Deepvalue investing, fundamental risks, and the margin of safety article pdf available in the journal of investing 173 september 2008 with 1,737 reads how we measure reads. Sep 19, 2014 deep value offers investors an authoritative exploration of the philosophy of deep value investment. The audiobook shows how investors warren buffett, carl. This simple thesis is elaborated on throughout the book with lots of research along with fascinating real world examples of value investing successes.
The incredible insight is that even if valuation ratios are practically the same, stocks that rank low on quality past sales growth perform better than highquality stocks. Pdf deepvalue investing, fundamental risks, and the. For these value strategies to work, investors must be patient and brave, as it requires looking at stocks that the herd ignores. The economic climate is ripe for another golden age of shareholder activism.
In the concluding chapter of the acquirers multiple. Searching for deep value stocks deep value investing is a powerful way to beat the market, but deep value stocks are an endangered species in the u. Deep value investing with tobias carlisle valuing businesses from the perspective of a private equity firm where did the 30 fund structure originate. Have the new growth stocks changed the game for value investing. Well, the book you should track down is margin of safety by seth klarman. Why activists investors and other contrarians battle for control of losing corporations 2014, wiley finance. Let the market come to you deep value investing by jeroen bos is an incredibly candid and revealing guide to the secrets of deep value investment. Deep value wiley online books wiley online library. The talk is about 60 minutes, and its well worth the time.
Deep value is a quantitative investing strategy which selects for investment the cheapest stocks in a universe of stocks, based on their valuation multiple investing in deep value is simple. He runs baupost group, which is a fabulously successful hedge fund with an intense value focus. As warren buffett rightly says, value and growth are joined at the hip. The audiobook shows how investors warren buffett, carl icahn, david einhorn, and dan loeb got started and how they do it. Deep value is a quantitative investing strategy which selects for investment the cheapest stocks in the universe based on a valuation multiple the deep value screeners are a great tool to source. Why activist investors and other contrarians battle for control of losing corporations is a mustread exploration of deep value investment strategy, describing the evolution of the theories of. Why activists investors and other contrarians battle for control of losing corporations 2014, wiley. Deep value investing deep value detector deep value. Written by an investor with a long and remarkable track record, it shares for the first. Deep value why activist investors and other contrarians battle for control of losing corporations tobias e. How the billionaire contrarians of deep value beat the market is an easytofollow account of deep value investing. The book shows how investors warren buffett, carl icahn, david einhorn and dan loeb got started and how they do it. Seventyfive years old and outperforming abstract the strategy of buying and holding net nets has been advocated by deep value investors for decades, but systematic studies of the returns to such a.
Deep value by tobias carlisle is one of my favorite books. I must admit i was underwhelmed with my initial viewing of the book. We detail the returns generated from a net nets strategy implemented from 1984 2008, and then attempt to explain the excess returns alpha generated by the net nets strategy. Tobias carlisle deep value investing, release date. Aug 06, 2017 deep value by tobias carlisle is one of my favorite books. A contrarians take on finding and managing undervalued companies. Hi, im tobias carlisle, investor and author of deep value. Why activist investors and other contrarians battle for control of losing corporations, about what constitutes a deep value stock. Deep value investing by tobias carlisle animated book.
Having worked most of my working life in australia with ron brierley and subsequently as an analyst in canada focused on value oriented investing, i believe that. Preface from the book, deep value by tobias carlisle, and behavioral portfolio management. Outlined below is an introduction of tobias carlisle, and the questions and answers from preston and stigsinterview with him. Pimco defines deep value investing as investing in stocks that are significantly undervalued based on their intrinsic worth determined by assetbased or cash flow valuation. I always enjoyed magic tricks as a child, so when the movie the prestige was released in 2006, i was eager to see it. After hours podcast taylor, brewster, and carlisle discuss restoration hardware and some reasons why warren buffett bought 1. Tobias carlisle, the managing director of eyquem investment management. Carlisle combines engaging stories with research and data to show how you can do it too. A practitioners guide to automating intelligent investment and eliminating behavioral errors 2012, wiley finance. Its how ben grahams voting machine turns into a weighing. Carlisle is the founder and managing director of eyquem investment management llc and serves as portfolio manager of the firms fund and managed accounts. Tobias carlisle is the founder and managing director of acquirers funds, llc.
Deep value, registered investment advisor, value wendl financial, inc. Oct 02, 2011 the strategy of buying and holding net nets has been advocated by deep value investors for decades, but systematic studies of the returns to such a strategy are few. Why activist investors and other contrarians battle for control of. Deep value investing and unexplained returns by jeffrey. Seventyfive years old and outperforming abstract the strategy of buying and holding net nets has been advocated by deep value investors for decades, but systematic studies of the returns to such a strategy are few. In his excellent book deep value, tobias carlisle shows insightful statistics for these portfolios. Written by tobias carlislean active value investor and the wellknown blogger at.
Carlisle, llb, is the founder and managing member of eyquem investment management llc, portfolio manager of the eyquem fund lp, and the author of the awardwinning website, which covers deep value, contrarian, and activist investment strategies. I was recently talking with tobias carlisle, author. The strategy of buying and holding net nets has been advocated by deep value investors for decades, but systematic studies of the returns to such a strategy are few. He serves as portfolio manager of acquirers funds managed accounts and funds. Deep value offers investors an authoritative exploration of the philosophy of deep value investment. Tobias carlisle, the managing director of eyquem investment management llc, also serves as a portfolio manager for eyquem fund lp and other accounts that are managed separately. Carlisle explores the principles and strategies of deep value investing in new book. Praise for deep value i highly recommend deep value.
Bakshi teaches mba students at mdi gurgaon two popular courses. Deep value investing jeroen later became a broker to peter cundill, the legendary canadian value investor who generated north of a 17% return annualized over the course of his 33 years career. What are some great books about deep value investing. The economic climate is ripe for another golden age of shareholder activism deep value. Hi reddit rinvesting, i blog at, and ive written two books on value investing. For years, ive believed that value investing works. Deep value investing ebook by jeroen bos rakuten kobo. Oct 19, 2014 well, the book you should track down is margin of safety by seth klarman. Peter was a personal friend of mine as well and a member of the board of advisors of my firm.
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