Going DEEP into Deep Value (Course on Value Investing)

Deep value cover

My Idea:

This is an experiment to see if a group of serious students of value investing can learn from each other and an in-depth reading of the course materials to become better investors.   If you send me your email to aldridge56@aol.com (DEEP VALUE COURSE) in the title, I will send you the course materials (Thanks to a reader for contributing!).   There is a catch however. You are expected to do the readings and comment/participate in the discussion in the comments section. So don’t seek unless committed to being an active participant. Since there will be supplementary readings for each chapter of the book (see chapter titles below), we will take one to two weeks per chapter.  You may have homework or be asked to research investment questions further.   I won’t think any less of you if you decide to pass–this course is only for fanatics.  Course will start a week or two into the New Year. 

Description of the book below (also type in DEEP VALUE) in the search box of this box and view some of the videos on deep value and the author, Toby Carlisle. Also, go to www.greenbackd.com and look at the past ten posts.

Book blurb from Wiley:

Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations is a must-read exploration of deep value investment strategy, describing the evolution of the theories of valuation and shareholder activism from Graham to Icahn and beyond. The book combines engaging anecdotes with industry research to illustrate the principles and methods of this complex strategy, and explains the reasoning behind seemingly incomprehensible activist maneuvers. Written by an active value investor, Deep Value provides an insider’s perspective on shareholder activist strategies in a format accessible to both professional investors and laypeople.

The Deep Value investment philosophy as described by Graham initially identified targets by their discount to liquidation value. This approach was extremely effective, but those opportunities are few and far between in the modern market, forcing activists to adapt. Current activists assess value from a much broader palate, and exploit a much wider range of tools to achieve their goals. Deep Value enumerates and expands upon the resources and strategies available to value investors today, and describes how the economic climate is allowing value investing to re-emerge. Topics include:

  • Target identification, and determining the most advantageous ends
  • Strategies and tactics of effective activism
  • Unseating management and fomenting change
  • Eyeing conditions for the next M&A boom

Table of Contents

Chapter 1 The Icahn Manifesto 1

Chapter 2 Contrarians at the Gate 19

Chapter 3 Warren Buffett: Liquidator to Operator 35

Chapter 4 The Acquirer’s Multiple 53

Chapter 5 A Clockwork Market 77

Chapter 6 Trading in Glamour: The Conglomerate Era 99

Chapter 7 Catch a Falling Knife 119

Chapter 8 The Art of the Corporate Raid 151

Chapter 9 How Hannibal Profits From His Victories 169

Chapter 10 Applied Deep Value 187

10 responses to “Going DEEP into Deep Value (Course on Value Investing)

  1. Kick ass!!!!! A new year’s eve present?????? : )

  2. Send the email and when I collect a batch of emails, I will send you the materials–probably tomorrow.

  3. Pingback: New CSInvesting Course: Going DEEP into Deep Value (Course on Value Investing) | Hurricane Capital

  4. Pingback: CSInvesting – Profundizando en el deep value (Curso de Value Investing en Inglés) | Moats & Value Investing

  5. Count with me too!

  6. Koustubh Vachhani

    Extremely interested, sending you email

  7. Pingback: Toby Carisle’s Deep Value Slides, Talks at Google | Hurricane Capital

  8. Hi John – not sure if this is still offered but if it is, it would be great if you could share the material.

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