Tobias Carlisle, Portfolio Manager at Acquirers’ Funds, joins Jack Farley on this sixth episode of Forward Guidance to explain why he believes quality companies are being serially undervalued. Carlisle argues that the equity market assigns far too high of a value on fast-growing stocks, and far too-little of a value on companies whose revenues are growing slowly but whose return on capital is very high and whose balance sheets are pristine. Carlisle shares with Farley the methodology and structure of of his value funds, The Acquirers’ Fund ($ZIG) and the Roundhill Acquirers Deep Value ETF ($DEEP), and he shares his vision for the future of value investing.