TheAcquirer\'sMultiple_HowtheBillionaireC.epub

The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market TOBIAS E. CARLISLE Copyright © 2017 Tobias E. Carlisle All rights reserved. ISBN: 0692928855 ISBN-13: 978-0692928851 DEDICATION For Nick, Stell, and Tom. CONTENTS Preface Acknowledgments About the Author 1 How the Billionaire Contrarians Zig 2 Young Buffett’s Hedge Fund 3 The Great Berkshire Hathaway Raid 4 Buffett’s Wonderful Companies at Fair Prices 5 How to Beat the Little Book That Beats the Market 6 The Acquirer’s Multiple 7 The Secret to Beating the Market 8 The Mechanics of Deep Value 9 The Pirate King 10 New Gentlemen of Fortune 11 The Art of Deep-Value Investing 12 The Nine Rules of Deep Value Appendix: Simulation Details Notes PREFACE “It is better to be lucky. But I would rather be exact. Then when luck comes, you are ready.” —Ernest Hemingway, The Old Man and The Sea (1952) This book is a short, simple explanation of one of the most powerful ideas in investing: zig. Zig? Zig when the crowd zags. Zig with the value investors. Zig with the contrarians. Here’s why: the only way to get a good price is to buy what t......