Uncovering the Secrets of Billionaire Contrarians: A Guide to Deep Value Investing and How It Can Help You Beat the Market

Ramen Patel: Well written, easy to understand and readable for the average person. Strongly recommend for anyone investing. One of the best books I have read on investing.

India on Jun 20, 2022

Mr J J Townsend: So much of investing literature is overly wordy and inaccessible.

Tobias' book makes the process of finding companies with (possible) hidden value accessible and encourages people to take this as a foundation for coming to their own conclusion about what the companies REALLY do and is it likely to be worth anything in the future (mean reversion in your favour... hopefully).

Numerous 600+ page books on corporate finance and valuation condensed into ~150 pages. Thanks so much.

Justin

United Kingdom on Jan 08, 2022

priyank: It offers a deep insight in to market for the beginner in easy to understand language.
It is a must have book for investing

India on Nov 15, 2021

VasudevaReddy: It looks like a easy meal, but needs to check the same in practice to tell how it will fare

India on Nov 11, 2021

Manuela Collesei: contenuto molto interessante e strategia non comune per investitori. L'ho scoperto tramite chi lo comparava al libro "little book that beats the market", chi ha amato tale libro adorerà anche questo. Testerò i suoi consigli per trovare azioni sottovalutate

Italy on Oct 01, 2021

Sherwin Li: This is a great book for value investors with no or some experience investing. Too often we focus on metrics like the P/E ratio as a valuation metric, and ignore the balance sheet of the company. Tobi describes why enterprise value is a much more descriptive description of a company’s price, and concretely outlines a practical way to use it to find deep value. The book includes anecdotes that go through the thought process of activist investors like Icahn and Loeb that show how these activists use this multiple to find activism targets. I highly recommend this book.

United States on Apr 20, 2021

Mike: relatively short book, but over simplified at times - you should “zig” when the crowd “zags” typical contrarian emphasis (you can’t beat the market if you buy the same things, you need to buy different things, but still be right). Good review of Buffett’s Dempster Diving days where he was doing cigar butt investing, buying graham style investments and squeezing/liquidating them. Then he talks about the magic formulae (see readings about Joel Greenblatt) beating the market. Then he talks about the aquirer’s multiple which beats the magic formulae - similar idea with magic formula, except special emphasis on low debt and high cash holdings of the company. He really emphasizes reversion to the mean in terms of stock price and leading businesses profits declining overtime due to competition. He has an antigrowth stance generally speaking - states that only warren buffett is able to find business with protective moats that protects its profits.

I appreciate content about activist investing - although this is very difficult for a low net worth individual investor to do (buying a significant percentage of a business in oder to influence management to unlock value and...

United States on Apr 09, 2019

Emptynesters: The Acquirer’s Multiple is the most recent of Tobias Carlisle’s books on formula selected value stocks. In effect, this one is ‘The Little Book of Deep Value’, as it is a fast, easy read providing the essentials of his Deep Value tome and the Gray/Carlisle Quantitative Value book. If you’re only going to read one book on the subject, this is the one. If you’re game for more detail or want more extensive proofs of the how and why the acquirer’s multiple works, spend the time reading Deep Value.

In The Acquirer’s Multiple Mr. Carlisle provides a lighter introduction to formulaic value stock assessments, compares the acquirer’s multiple to the Magic Formula, and provides proofs of function. Varying from Deep Value, The Acquirer’s Multiple provides some added value with a set of rules for using the tool.

I strongly recommend the book, especially if you have an interest in formulaic value stock selection. That said I have mixed emotions about recommending it because I don’t want any additional competition.

United States on Jan 07, 2018

Brad F: Short, simple, entertaining with good results.

What I love about this book is that I could read the whole thing in just a few evenings and it was enjoyable. Unlike many of the other financial books on here that seem to drag on this one boils it all down to the concept of digging for deep value stocks and how that has worked well for big time investors like Warren Buffet. Given the price I am happy to give this 5-stars. I think its a good value (no pun intended).

If I had to find one point of criticism it would be that in order for the average retail trader to actually practice the best performing strategy in the book they would have to subscribe to the author's website (for a fee) to access his screens as it would be too complex and time consuming to try and build them on your own unless you were a quant with your own programming knowledge and tons of free time on your hand. To be fair the author does give out one free screening tool on his site and offers a discount to those who purchased the book but the idea of buying a book and then not being able to easily implement its teaching without paying out more money may rub some people the wrong way. For me personally I...

United States on Nov 15, 2017

einaro: If you have read Tobias Carlisles previous books, you will find nothing new here. What you will get, is a summary of his earlier books with more concrete advice regarding how to actually implement the strategy described in the book. This is also what the author aimed for, and achieved.

From the start of the book I got the feeling that the author had done a lot of "copy-and-paste" from his previous books as there are a lot of short paragraphs and a somewhat non existing storyline. That improves later in the book. There are also some typos and language errors that can change the meaning of a sentence, but from the content you can easily identify those and they don't cause too much trouble.

Regarding the content I'm really pleased, and it was an enjoyable read with "to-the-point" statements and advice. Recommended.

United States on Nov 08, 2017