Norman Rothery has an article in the Globe and Mail’s Strategy Lab The revenge of the market’s castoffs: Cigar-butt stocks get last laugh about Deep Value:
Carl Icahn is trying to squeeze a little more juice out of Apple. Late this week, he released what amounted to a love letter extolling the virtues of the company and urging it to repurchase more of its stock.
The move follows a similar push last year that saw the company return money to shareholders by raising its dividend and buying stock. This time around management appears to be a little less co-operative. But I wouldn’t count out Mr. Icahn quite yet. While he sometimes fails to get companies to follow his advice, he has a knack of walking away with piles of cash, nonetheless.
You can learn more about activists like Mr. Icahn by reading money manager Tobias Carlisle’s new book Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations. It explores the modern development of value investing and uses the careers of famous activists to show how it has evolved.
Read the rest of The revenge of the market’s castoffs: Cigar-butt stocks get last laugh.
Buy Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations (hardcover or Kindle, 240 pages, Wiley Finance) from Wiley Finance, Amazon, or Barnes and Noble.
Here’s your book for the fall if you’re on global Wall Street. Tobias Carlisle has hit a home run deep over left field. It’s an incredibly smart, dense, 213 pages on how to not lose money in the market. It’s your Autumn smart read. –Tom Keene, Bloomberg’s Editor-At-Large, Bloomberg Surveillance, September 9, 2014.
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