Tobias Carlisle, author of Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations joins Doug to discuss the difference between deep value investors and franchise investors. What type of investor are you? You're a deep value investor if you look for small companies that have the potential to be great. The deep value method is a long-term approach that requires in-depth analysis of the company in question… and a bit of wisdom. Companies on the verge of liquidation can be purchased at a "discounted" rate and may turn a profit when the company is liquefied, or the market improves. Tobias reveals the number one mistake deep value investors make when they purchase a business. Did you – or will you – receive an inheritance? Often, added to the pain of losing a loved one, is the angst of what you should do with an inheritance. As a financial advisor, Doug sees many people make costly mistakes when they receive an inheritance. There are many details involved in managing an inheritance (especially IRAs). Listen to the episode to learn what you should do after you receive an inheritance to avoid making costly mistakes. Download a free toolkit here to learn about the steps you should take if you live overseas and receive an American inheritance. Follow Tobias Carlisle on his website, website The Acquirer's Multiple, and on Twitter. If you're not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug's free ebook The Retirement Planning Book.