Tobias Carlisle – Assets are Valuable, but Cash Flow Is King

Tobias Carlisle is the founder of The Acquirer’s Multiple. He's also the founder of the Acquirers Funds. He is best known as the author of the number one new release in Amazon, Business and Finance, The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market. He has also authored several Amazon best-sellers - Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations, Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors, and Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors. Tobias has extensive experience in investment management, business valuation of public companies, corporate governance, and corporate law. Before founding the forerunner to acquirers fund in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer. As a lawyer specializing in mergers and acquisitions, he has advised on transactions across a variety of industries in the United States, the UK, China, Australia, Singapore, Bermuda, Papa New Guinea, New Zealand, and Guam. He is a graduate of the University of Queensland in Australia with degrees in Law and Business. Currently, Tobias is a portfolio manager of the Acquirers Fund, which is an ETF listed on the New York Stock Exchange.   “You can have a good thesis, but you have to be very careful about the cash flow.” Tobias Carlisle   Worst investment ever Started out investing in asset-heavy business When the BP oil spill happened, many oil and gas companies got in a lot of trouble. One of which was the Seahawk Drilling. As soon as the drilling stops, they didn’t get a lot of cash flow but they were very asset-heavy. So, when they were trading at around $0.10, Tobias took the offer to invest in those jackup rigs as he was promised that there has never been an opportunity like that. To capitalize and become one of the big drillers in the area through these undervalued assets was exactly what Tobias was looking...