Today's Animal Spirits Talk Your Book is presented by the Acquirers Fund.

Welcome to Animal Spirits, a show about markets, life, and investing.

Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, and watching.

Michael Batnick and Ben Carlson work for Rit Holt's Wealth Management.

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions and do not reflect the opinion of Ritt Holt's wealth management.

This podcast is for informational purposes only and should not be relied upon for investment decisions.

Clients of Ritt Holtz Wealth Management may maintain positions

and the securities discussed in this podcast.

Ben and I sat down with Toby Carlisle, author of The Acquirers Multiple, Deep Value, Quantitative Value, and Concentrated. of the Aquirers multiple deep value quantitative value and concentrating

investing and we spoke with him about his new E. Ticker ZIG

ZIG. Yeah it's called the Acquires Fund. That's a pretty good ticker. It's a great ticker. It's a great name and this is a long short deep value EDF and it's pretty awesome I think that something like this can

exist inside of an EDF and so the idea is it's called a 130-30 fund for those

who don't know that means it goes long 130% and short 30% so you

actually get a 100% net exposure even though you're getting 160% gross

exposure because you're going short.

So the extra 30% on the long side

is cancel out by the 30% of the short side.

And yeah, this is interesting because he's done

a lot of almost like friends accounting work on a lot of these value signals.

And so what do you think after talking to him, what do you think is a difference between just a simple value factor

and like a deep value factor like this?

Oh, that's a good question.

...