Announcer:                        00:00                     You’re tuned in to the Investing for Beginners podcast. Finally, step by step premi investment guidance for beginners, led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion and help you overcome emotions by looking at the nbers, your path to financial freedom starts now

New
Speaker:                   00:36                     Welcome
to the Investing for Beginners podcast. I am Andrew Sather; we have another
great interview for you today. Dave’s taking the day off again. Today we have
Tobias Carlisle. He has done a ton of stuff in the online space, the investing
space and made some great contributions to the value investing world as well.
So with that, Tobias, I love to dig into all the stuff you’ve got going on, but
thanks for joining us today.

Tobias:                                  01:05                     Hey,
thanks for the very kind introduction, Andrew. Appreciate it.

Andrew:                              01:09                     Yeah,
so I guess first things first, I’m just going to like dive right in and then
maybe we can go over your background a little bit later. , just the top of the
thing that comes to my mind cause I was listening to your book acquires
multiple, which is a fantastic book by the way. For anybody, basically. We’ve
mentioned your book several times on our show, but I think to cliff notes summary.
It’s like I’m taking Joel Greenblatt’s ideas and adding an extra component to
it and having a ton of backtesting research and all whole lot more than I’m not
giving it full justice. But as I was listening to it, this huge thing that
comes up as a theme over and over again is this idea of mean reversion. And I
think it’s a fantastic way to kind of start a discussion about some of the
things when you talk about value investing then that’s something that I don’t
think is a term that gets presented to beginners a lot. So can you talk about
what mean or diversion is and kind of how that applies to the stock market?

Tobias: