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. In the first half of the book, tobias carlisle compares various metrics used to identify deeply undervalued stocks and presents cases from empirical research that show deep value stocks in general outperform growthquality stocks. Deep value investing is a kind of value investing that really puts the emphasis on the. In his quest to convince readers that deep value investing beats conventional value investing, tobias carlisle turned to the history of warren buffett trades, portfolio in his younger years. What is one book to read if you want to be great at investing.
Just find the securities with the lowest valuation multiples in the market, and build a welldiversified portfolio. 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 investing originated with benjamin graham, known as the father of value investing. Deep value investing is a defensive and highpotential strategy, picking out companies where it is very hard to lose money even in a worstcase scenario and where genuine potential means an almost unlimited. Greenbackd deep value, contrarian, and grahamite investment. The acquirers multiple by tobias carlisle novel investor.
Carlisle combines engaging stories with research and data to show how you can do it too. Deep value the economic climate is ripe for another golden age of shareholder activism deep value. Why did you decide to launch your own fund and why deep value. The economic climate is ripe for another golden age of shareholder activism deep value. Deep value enumerates and expands upon the resources and strategies available to value investors today, and describes how the economic climate is allowing value investing to reemerge. He is best known as the author of the wellregarded website and as coauthor of quantitative value. Deep value by tobias carlisle is one of my favorite books. Hi, im tobias carlisle, investor and author of deep value. 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. Deep value investing by tobias carlisle animated book. Why activist investors and other contrarians battle for control of losing corporations, deep value, tobias e.
Deep value by tobias carlisle is an excellent book on contrarian value investing. The book shows how investors warren buffett, carl icahn, david einhorn and dan loeb got started and how they do it. 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. What are some great books about deep value investing. 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. Written by tobias carlislean active value investor and the wellknown blogger at. Why activist investors and other contrarians battle for control of losing corporations is a mustreadexploration of deep value investment strategy, describing theevolution of the theories of valuation and shareholder activismfrom graham to icahn and beyond. Why activist investors and other contrarians battle for control of losing corporations ebook written by tobias e. Deep value why activist investors and other contrarians. How shareholder activist hedge funds battle for control of the worlds leading corporations is a mustread. If youve read other value investing texts you might want to skip this one. Tobias carlisle is the principal at acquirers fund, llc. On todays show, tobias carlisle and robert discuss various stock market investing strategies, such as deep value, value investing, and quantitative value. Download it once and read it on your kindle device, pc, phones or tablets.
The book is a unique combination of careful description of the value styles and players, backed up by data that supports the conclusions reached. Current activists assess value from a much broader palate, and exploit a much wider range of tools to achieve their goals. Why activist investors and other contrarians battle for control of losing corporations is a mustread exploration of the deep value investment strategy, describing the evolution of the theories of valuation and shareholder activism from graham to icahn and beyond. Why activist investors and other contrarians battle for control of losing corporations, written by tobias carlisle, founder of. Another excellent book by tobias carlisle on the importance of value investing and. 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. Tobias carlisle is founder and managing director of acquirers funds, llc.
The icahn manifesto corporate raider to activist investor in chapter one the groundwork is laid by describing how carl icahn evolved as an activist. A practitioners guide to automating intelligent investment and eliminating behavioral errors. Why activist investors and other contrarians battle for control of losing corporations, explains this investing strategy, who does it, and the common mistakes to avoid. Deep value investing and unexplained returns by jeffrey oxman. Deep value investing with tobias carlisle valuing businesses from the perspective of a private equity firm where did the 30 fund structure originate. Deep value offers investors an authoritative exploration of the philosophy of deep value investment. Carlisle is the founder and managing director of eyquem investment management llc and serves as portfolio manager of the firms fund and managed accounts. Print ebook tobias carlisle breaks down how investors like warren buffett, carl icahn, and others take advantage of the powerful force in markets known as mean reversion, why it exists, the opportunities it creates, and how a deep value strategy captures it. I started eyquem in australia basically sitting at the desk that i had sat at previously at an activist hedge fund. Carlisle, coauthor of a book i put on investors must read list quantitative value, is back with another compelling volume, deep value. He has achieved a lot of recognition in the value investing community for his books quantitative value 2012, deep value 2014 and concentrated investing 2016. Deep value investing with tobias carlisle the investors. 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. The price of the book is expensive, but it is well worth it.
Jan 01, 2014 in the first half of the book, tobias carlisle compares various metrics used to identify deeply undervalued stocks and presents cases from empirical research that show deep value stocks in general outperform growthquality stocks. Carlisle focuses solely on investments and the type of investments that analyze what companies are currently worth, based on known facts, for the most part, the balance sheet. Why activists investors and other contrarians battle for control of losing corporations wiley. Why activist investors and other contrarians battle for control of losing corporations joins doug to discuss the difference between deep value investors and franchise investors what type of investor are you. Tobias e carlisle the economic climate is ripe for another golden age of shareholder activismdeep value. Tobias carlisle is the founder and managing director of carbon beach asset management llc. This site is like a library, use search box in the widget to get ebook that you want. How the billionaire contrarians of deep value beat the market is an easytofollow account of deep value investing. Why activist investors and other contrarians battle for control of losing corporations wiley finance. Written by tobias carlislean active deep value investor and the wellknown blogger at. Carlisle rigorously shows why value investing will continue to work. Lee deep value why activist investors and other contrarians battle for control of losing corporations por tobias e.
Use of the formula does not guarantee performance or investment success. How the billionaire contrarians of deep value beat the market is an easytoread account of deep value investing. Why activist investors and other contrarians battle for control of losing. Deep value is a quantitative investing strategy which selects for investment the. Why activists investors and other contrarians battle for control of losing corporations di carlisle, tobias e spedizione gratuita per i clienti prime e per ordini a partire da 29 spediti da amazon. The economic climate is ripe for another golden age ofshareholder activism deep value. How the billionaire contrarians of deep value beat the market kindle edition by carlisle, tobias.
After hours podcast taylor, brewster, and carlisle discuss restoration hardware and some reasons why warren buffett bought 1. Deep value is a quantitative investing strategy which selects for investment the cheapest stocks in a universe of stocks, based on their valuation multiple. Customers who bought this item also bought these ebooks. For years, ive believed that value investing works. For a dozen years, between 1957 and 1969, buffett operated a. The acquirers multiple is a term used to describe the strategy explained in the book the acquirers multiple. 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 acquirers multiple investor tobias carlisle is a widely recognized expert on deep value investing. Youre a deep value investor if you look for small companies that have the potential to be great. Download for offline reading, highlight, bookmark or take notes while you read deep value. Enterprise value operating earnings it is based on the investment strategy described in the book deep value. Why activist investors and other contrarians battle for control of losing corporations. Click download or read online button to get deep value book now. The audiobook shows how investors warren buffett, carl icahn, david einhorn, and dan loeb got started and how they do it.
The book suggests buying cheap stocks with fairly poor fundamentals such as declining sales, profits and return ratios than buying stocks with improving fundamentals. In this episode, preston and stig talk to eyquem investment management llc managing director tobias carlisle about deep value investing. Read deep value why activist investors and other contrarians battle for control of losing corporations by tobias e. Super 6 list of deep value investing thought leaders with their. Why activist investors and other contrarians battle for. Why activist investors and other contrarians battle for control of losing corporations 2014, wiley finance. Why activist investors and other contrarians battle for control of losing corporations wiley finance ebook. Deep value csinvesting csinvesting intensive investing. Maybe it was because i thought the price was high given the size of the book. Strategies of the worlds greatest concentrated value investors.
His book focuses on a specific area of value investing, but it happens to be the area that has generated the biggest returns. I must admit i was underwhelmed with my initial viewing of the book. Carlisle ebooks to read online or download in pdf or epub on your pc, tablet or mobile device. Have the new growth stocks changed the game for value investing. How the billionaire contrarians of deep value beat the market. Outlined below is an introduction of tobias carlisle, and the questions and answers from preston and stigsinterview with him. In its core, value investing is the practice of investing in stocks which price is significantly lower than their economic value which graham named intrinsic value. He is best known as the author of the well regarded website greenbackd, the book deep value. Written by tobias carlisle an 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. This counterintuitive view is well supported by research by various researchers. As i outline in deep value, the results are broadly similar for value investing in developed markets, not to three decimal points, but in the same direction i.
Carlisle not only brings up investments in general in this category, but specifically those companies that are very undervalued. How the billionaire contrarians of deep value beat the market and the founder of acquirers funds. Starting his career as a lawyer in queensland, tobias is now a worldrenowned value investor based in california. Why activists investors and other contrarians battle for control of losing corporations 2014, wiley finance, and quantitative value. 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. Acquirers fund zig, a deep value etf, began trading on the nyse arca this morning. He serves as portfolio manager of the firms deep value strategy. Aug 06, 2017 deep value by tobias carlisle is one of my favorite books. Use features like bookmarks, note taking and highlighting while reading the acquirers multiple.
Dec 03, 2017 tobias carlisle has taken an interesting path to get where he is today. Tobias carlisle, author and investing expert, is the founder. The book combines engaging anecdotes with industry research to illustrate. Gray, phd, executive managing member, alpha architect, and coauthor, quantitative value carlisle has persuasively rendered a thoughtprovoking examination of a counterintuitive investment theory. He is also the author of the books the acquirers multiple 2017, concentrated investing 2016, deep value 2014, and quantitative value 2012. Deep value by tobias carlisle the investing father.
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