Here’s a great article about fellow Queenslander and value investor Tobias Carlisle from Acquirers Funds. He was a guest on this podcast back in July 2020.

“The first step to becoming a better investor, says Carlisle, is to recognise that all are naturally wired to jump off the cliff and follow the herd. So, deep value investing can be viewed as a sort of counter-intuitive survival guide to overcoming these self-destructive investment tendencies.”

The article mentioned that Tobias had given a Google Talk so i checked that out as well.

Although Tobias and Tony agree on many things, see if you can pick which one of these rules Tony would disagree with.

“Carlisle advises value investors to stick to a couple of simple rules :

  • Buy only when the price is well below a stock’s intrinsic value.
  • Sell when the price is well above the stock’s intrinsic value.”

That’s right – Tony doesn’t sell unless the stock breaches its three point sell line or the company comes out with some news that affects its future prospects.

But I think Tony would agree with Tobias’ “7 principles of deep value investing”, especially this one:

“Follow simple, concrete rules to avoid errors.”

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