Aired 6 months ago 3:09
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Aired 4 months ago 56:52
#158 - Tobias Carlisle - The Way To Get The Best Performance Is To Concentrate Into Industries When They Get Cheap
Â In episode 158, we welcome back our gest from episode #77, founder of the Acquirers Funds, Tobias Carlisle. Toby begins by providing some detail about his new fund, The Acquirers Fund, a long/short deep value U.S. equity fund. He then spends some time talking about the short side of the portfolio, getting into the thoughtful approach he takes in considering positions including sizing, valuation, balance sheet factors, and stock price factors. He explains that the broad opportunity set looks good for short positions right now. Meb and Toby shift to talking about the long period of underperformance for value investing. Toby hits on the fact that French/Fama data shows value has had its worst 10 year period ever based on the price/book ratio, and notes value has underperformed for an extended period based on other valuation metrics as well. Meb then asks Toby about his process. Toby gets into some detail about his valuation process, and why he favors it vs. other valuation approaches. As the conversation winds down, Toby chats about his own podcast, The Acquirers Podcast, some interesting guests heâ€™s hosted recently, and whatâ€™s on the horizon for him and Acquirers Funds. All this and more in episode 158.
Aired 8 months ago 68:40
#143 - David Eifrig - Most People Run Losses Into The Ground
In episode 143 we welcome Dr. David Eifrig. David begins by going through his background and pathway to finance. He first discovered his interest in investing through the occasional Barronâ€™s issue, and understood he didnâ€™t want to follow in his fatherâ€™s footsteps in medicine, moving on to Kellogg for business school before moving on to Wall Street. He describes that while working in finance, he decided to pursue science and medical school and ultimately helped build a business that was sold to Roche. While in residency, he began writing and that launched him into newsletter writing. Meb then asks David to describe his publications, Retirement Millionaire, Retirement Trader, Income Intelligence, and the newly launched Advanced Options. Meb asks David about how he thinks about value and price declines. David responds with some background on how he prefers to teach investing, and provides a simple framework for thinking about price and value. After a quick discussion of the closed-end fund space, the conversation shifts to what looks interesting right now. David discusses Altria, and their exposure to the vaping market and the marijuana industry as well as preferred shares. The pair then expands with a discussion about the current interest rate and inflationary environment after an interesting example from David. David also gets into the use of stop losses, having a plan, and the mindset of having an idea of when to sell. He mentions that he thinks about structuring portfolio positions such that losses on one single position wonâ€™t significantly impact the overall portfolio. The conversation then shifts gears into some lifestyle suggestions, Davidâ€™s experience as a winemaker, and Davidâ€™s best and worst trades. All this and more in episode 143.
Aired 6 months ago 41:52
Episode 30: The One Where She Goes Over The Edge
Hello, Lovelies! This week Rebecca tries to defend flat Earth! (What?) She explains things like how gravity works, what an antimoon is, why Antarctica is guarded by the government, and how the moon landing was faked with the help of NASA. Join us as Tiffany gets way too excited about this conspiracy, Ashley's brain blows a fuse, and Rebecca gets way too excited explaining the tomfoolery. Disclaimer: No Rebecca's were harmed during the recording of this episode