Formula Investing: Schwartz and Hanauer compare the Magic Formula and Acquirer’s Multiple | S07 E17
Episode publishedPodcast: The Acquirers PodcastThe Acquirers Podcast
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Just that it's a lot of investment advice.
And, we're live, gents. This is Value After Hours. I'm Tobias Carlisle, joined as always by my co host, Jake Taylor. Our special guests today, Marcel Schwartz and Matthias Hanauer. It's not investment advice, just so you know. We're we're just talking we're just talking of papers of the day, formula investing. How are you, gents? Welcome. Great
to be here. Good
to be having
you. So you guys I came across you guys. I've known I've known Matthias for for a while, virtually. You guys have just completed a paper called formula investing. Why don't you tell us a little bit about who you are, how you came to work together on this paper, and and what the paper is about? Yes.
Maybe I will start on that one. So, Matthias and me, we met via my university during the studies. So we were both at the Technical University in Munich. And during my postgrad studies, I took up the concept of founder investing. And there, I came in contact with Matthias. And we teamed up, basically, to write a paper about it. And what we mean with formula investing is basically simple stock screeners that are aiming on, outperformance even for retail investors. And what we did was we tested for very popular investing formulas, the F score by Piotr Woski, the Magic Formula, which is probably k
call for
us. Yeah. Yes, definitely.
And also the conservative formula from Conin, Blitz, and Von Felt. And we tried to bring all those formulas together on a unified framework, really, where we tested them on a extensive period of time. So we used US data from 1963 until end of twenty twenty two. And thereby, we were able to compare them also, against each other, but also test them for time. So we really Well, let's just talk
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