Clay Finck chats with Tobias Carlisle about what led him to becoming a value investor, what mean reversion is and how it relates to his overall investment strategy, how inflation impacts his investment process, what the shiller PE is and why it’s something to be mindful of, what his thoughts are on determining an appropriate discount rate, and much, much more! Tobias Carlisle is the founder of The Acquirer’s Multiple®. He is also the founder of Acquirers Funds® which manages ZIG, the Acquirers Fund, and DEEP, the Roundhill Acquirers Deep Value Fund. He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law. IN THIS EPISODE, YOU’LL LEARN: 📌 Get your first 3 months of investment management with Titan for zero fees! https://www.titan.com/TIP ✔️ Subscribe to Millennial Investing podcast show: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM 🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/millennial-investing/rational-investing 📖 BOOKS MENTIONED: - The Acquirer’s Multiple by Tobias Carlisle: https://amzn.to/34Rgyj9 - Deep Value by Tobias Carlisle: https://amzn.to/2Mo3QBW - Quantitative Value by Tobias Carlisle: https://amzn.to/2MqMyUX - Value Investing by Bruce Greenwald: https://amzn.to/3srhhak - The Intelligent Investor by Benjamin Graham: https://amzn.to/3egrtdq - Buffett: The Making of an American Capitalist by Roger Lowenstein: https://amzn.to/3qgEnh3 - Security Analysis by Benjamin Graham: https://amzn.to/3ebzWyy - King Icahn by Mark Stevens: https://amzn.to/3suGGjg Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 ▶️ RELATED EPISODES: - Deep Value Investing and the Acquirer’s Multiple w/ Tobias Carlisle (MI025): https://youtu.be/BoSQOMqFLQ4 - Warren Buffett, Charlie Munger, & Berkshire Hathaway w/ Adam Mead (MI084): https://youtu.be/jPp4xr5btbQ 💡 OTHER RESOURCES - The Acquirer’s Podcast: https://acquirersmultiple.com/podcast/ - The Acquirer’s Multiple: https://acquirersmultiple.com/ - The Acquirer’s Fund: https://acquirersfund.com/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK: ₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8wOLjjwNCM5B1qFdrtTdTZ 📚 Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F9dDPFYGAHRbrWoToCe2uoU 🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8Yw_8xO2nk-RD7fhb3yktn 💸 Get introduced to the world of investing with our Millennial Investing podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F_p00VYv3psJ8rhDAGOvR5W ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ FOLLOW US ON SOCIAL MEDIA📱: 💻 Facebook: https://www.facebook.com/groups/theinvestorspodcast/ 👔 Linkedin: https://www.linkedin.com/company/the-investor's-podcast/ 🐦 Twitter: https://twitter.com/TIP_Network ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📥 Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/form-youtube-checklist/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.