Best Idea Show - Tobias Carlisle, Acquirers Fund - There Are Basically Three Big Periods Of Value Underperformance And They Seem To Congregate Around These Periods Of Technological Advancement | #272

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 16 December 2020

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode 272, we welcome our guest, Tobias Carlisle, founder and managing director of Acquirers Funds, where he serves as the portfolio manager of the firm’s deep value strategy. In today’s episode, we’re covering Tobias’ best idea: small cap and microcap value. Value stocks have underperformed but Tobias thinks now they offer a great risk/reward. He walks us through historical data and research from the past 200 years and why that leads him to believe value will outperform going forward. We compare the current setup to prior periods when value underperformed in 2000 and even talk about some of his favorite holdings. As we wind down, he touches on shorting the market and how it provides protection for long positions if the market falls over. Please enjoy this special “Best Ideas” episode with Acquirers Funds’ Tobias Carlisle. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Medfavor Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:18.8	Met Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.3	Did it industry regulations, he will not discuss any of Cambria's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of
0:31.2	Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:35.6	Hey friends, today we have another installment of our best ideas series our guests the
0:44.8	founder in managing director of acquirers funds serving as the portfolio manager
0:49.6	for the firm's deep value strategy.
0:52.8	Today's episode, we're covering our guest's best idea.
0:56.1	Long micro cap value stocks.
0:59.1	Value stocks have underperformed,
1:00.6	but our guest thinks now they offer great risk reward.
1:04.0	He walks us through the historical data and research from the past 200 years and why that leads
1:08.5	him to believe value will outperform going forward.
1:11.9	We compare the current setup to prior periods when value
1:14.6	under perform in 2000 and even talk about some of his favorite holdings right now.
1:18.6	And just to be clear, we recorded this in early November before part of this massive value
1:24.8	run up I think there's a lot to go as we wind down we touch on shorting the market
	...

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