This Week’s Deep-Value Landscape: Acquirer’s Multiple Large-Cap Screen
The Acquirer’s Multiple® Large‑Cap screen this week highlights a concentrated set of value opportunities across energy, financials, housing‑related cyclicals and other mature, cash‑generative franchises. Despite robust profitability, strong balance sheets and active capital returns, these companies trade at compressed multiples that imply earnings risk rather than reflecting their normalized cash economics. Energy giants such as Equinor and Ecopetrol, high‑yield financials like Synchrony, and housing builders including PulteGroup illustrate the disconnect between cash flow generation and market pricing. For value investors, the gap offers a broad hunting ground across sectors.
Jamie Dimon’s Annual Letter: Key Takeaways for Investors
Jamie Dimon’s 2025 annual letter balances optimism about U.S. economic resilience with caution over lingering macro risks. He highlights geopolitical tensions, supply‑chain strains, and inflation as under‑priced tail risks that could pressure equity multiples if rates stay high. Dimon also...
This Week’s Deep-Value Landscape: Acquirer’s Multiple Large-Cap Screen
The Acquirer’s Multiple® Large‑Cap screen highlights a concentration of cash‑rich companies in energy, financials, housing‑related cyclicals and other mature franchises. Despite strong operating income, free cash flow and active capital returns, these firms trade at compressed multiples as the market...
Bath & Body Works, Inc. (BBWI): Deep Value Speciality Retailer
Bath & Body Works (BBWI) trades at a deep‑value discount, with an Intrinsic Value to Price (IV/P) ratio of 1.30 and an Acquirer’s Multiple of 6.70. The specialty retailer generates $865 million of free cash flow, supporting debt service, share repurchases,...
Cliff Asness: The Hidden Risks in Private Markets
Cliff Asness challenges the widely held belief that private‑market assets deliver smoother, low‑volatility returns. He argues that the apparent stability is an accounting artifact of infrequent valuation, not a true risk reduction, and warns that the illiquidity premium may be...
David Abrams Portfolio Analysis: Key Positions, Concentration & Value Strategy
Abrams Capital Management reported a $5.67 billion equity portfolio that remains extremely concentrated, with the top ten holdings accounting for roughly 99% of assets. The fund’s core positions are dominated by Loar Holdings, Lithia Motors, and other automotive‑related companies, while modest...
Pfizer Inc (PFE): Our Calculation of Intrinsic Value
Our weekly DCF model values Pfizer Inc. at roughly $14‑15 per share, far below its current trading level near $27. The analysis uses a 9% discount rate, 2% terminal growth, and projects free cash flow stabilizing around $10 billion by 2029,...
Abercrombie & Fitch Co. (ANF) — Deep Value In a Revitalized Global Apparel Retailer
Abercrombie & Fitch has completed a multi‑year transformation that lifted gross margins to 61% and generated over $350 million of free cash flow. The retailer now reports $5.27 billion in revenue, $699 million operating income and a net margin of roughly 10%. Valuation...
Lee Ainslie Portfolio Analysis: Key Positions, AI Bets & Maverick Capital Strategy
Maverick Capital, led by Lee Ainslie, disclosed a roughly $9.3 billion equity portfolio that remains moderately diversified, with the top ten holdings accounting for about 44% of assets. The fund’s long/short, research‑driven approach continues to favor high‑quality mega‑cap technology platforms alongside...
Pzena: When a Value Index Stops Looking Like Value
Pzena Investment Management argues that the Russell 1000 Value Index has drifted from a pure‑value construct, now holding hundreds of mega‑cap technology names alongside traditional value stocks. The index’s broadened composition makes it resemble a broad market basket with a...
Why David Einhorn Is Reducing Equity Exposure Despite Solid Returns
Greenlight Capital’s Solasglas fund posted a 7.9% fourth‑quarter gain and a 9.8% year‑to‑date return in 2026, outpacing the S&P 500’s modest rise. Despite solid performance, David Einhorn trimmed net equity exposure to about 29% in February, down from roughly 40%...
This Week’s Deep-Value Landscape: Acquirer’s Multiple Large-Cap Screen
The latest Acquirer’s Multiple® Large‑Cap screen highlights a cluster of capital‑intensive cyclicals, discounted financials and mature global franchises that are trading at historically low acquisition multiples despite robust operating income, free cash flow and active shareholder returns. Valuations remain anchored...
The Boeing Company (BA): Our Calculation of Intrinsic Value
Each week we run a DCF model on Boeing, arriving at an intrinsic share price of roughly $85, far below the current market level near $230. The analysis uses a 10% discount rate, 2.5% terminal growth, and forecasts free cash...
Tesla, Inc. (TSLA): Our Calculation of Intrinsic Value
In this episode the hosts walk through a discounted cash flow (DCF) valuation of Tesla, Inc., outlining their assumptions—a 10% discount rate, 3% terminal growth, and projected free cash flows rising from $6.5 B in 2025 to $10.5 B in 2029. The...
Warren Buffett: Beware The Investment Activity That Produces Applause
In this episode, Warren Buffett’s 2008 shareholder letter is dissected to highlight timeless investment principles amid market turbulence. Buffett stresses that pessimism, not euphoria, should guide investors, urging disciplined valuation, liquidity, and patience during downturns while warning against chasing applause...
