Hello Listeners,

Tobias is back for another episode with my co-host, Adam. Tobias is the author of the "Acquirer's Multiple" and founder and managing partner at Carbon Beach Asset Management.

1:25 – Just curious to start out with a 30,000 foot view where the Acquirer’s Multiple fits into this and what you are adding?

6:32 – Do you think that American Express investment represented the shift in the evolution into Buffet’s style like the first non-Ben Graham style investment?

12:26 – What is the apples to apples outperformance of the Acquirer’s Multiple methodology compared to Greenblatt’s magic formula?

12:56 – Have you had the opportunity to speak with Greenblatt and present your findings to him?

14:19 – The Acquirer’s Multiple methodology?

16:42 – How do you spend most of your day?

22:51 – What are your views on the passive versus active debate?

22:50 – So you start out with the screen and look at each company and then defer back to the screen, how do you does the process work?

26:45 – Did you construct this system yourself?

29:37 – If you had to pick one stock and hold it for the next 30 years?

30:47 – How many factors due you screen on?

32:41 – What advice would you give a young millennial entering the money management business?

34:28 – What is the most important thing people do not know about you?

39:05 – What do you know now that you wish you knew then?

42:37—What do you do for fun?

Enjoy and thanks for the listen!