May 13, 2021

Tobias Carlisle – The Acquirer’s Multiple

Featuring: David Barr, Tobias Carlisle

David Barr chats with Tobias Carlisle, founder of the Acquirers Multiple and Acquirers Funds.

Subtitle: “Simple models do tend to outperform human experts in almost every scenario”

In this episode David Barr, President and Portfolio Manager is joined by Tobias Carlisle, founder of The Acquirer’s Multiple and Acquirers Funds. They discuss Tobias’ background in investing, the memorable guests he has had on his podcasts, cryptocurrency, value traps, small cap stocks, social media and what defines a successful investor. They also look back at how investing has changed over the years and what keeps them moving forward during tough times.

Key Takeaways

[01:10]	David and Tobias talk about their formative years in investing and the lessons learned along the way.
[02:40]	The opportunity and challenges that investing early in the tech space brings.
[05:12]	The cyclical nature of investing in commodities and technology.
[06:09]	The shift in investing from mining to tech to cannabis and cryptocurrency.
[10:35]	Talking about the small company factor and the value factor and its impact of investing.
[11:35]	Reviewing Q4 2020 performance and assessing the best time to buy small cap stocks.
[13:08]	David and Tobias share thoughts on cryptocurrency.
[14:40]	Tobias relives learnings from some of the most memorable guests from his podcast.
[17:30]	Commonalities and themes for avoiding value traps.
[20:00]	Has the definition of a value investing changed?
[26:30]	Historical value investing and value investing into the future.
[34:50]	How Social Media has worked out for Tobias, especially Twitter.
[42:00]	Using the broken leg psychology to inform investing decisions.
[47:30]	The common characteristics of successful investors.
[50:00]	A book recommendation from Tobias