Michael Price

MFP Investors LLC

Last Update: 2013-05-14

Number of Stocks: 94
Number of New Stocks: 9

Total Value: $763 Mil
Q/Q Turnover: 11%

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Michael Price's Profile & Performance

Profile

Michael F. Price is the 271st richest person in the world, according to Forbes. A renowned money manager, he learned finance as a $200-a-week research assistant under Max Heine. Mr. Price earned reputation for buying undervalued companies, and raising he. He has often tussled with management of companies held in his portfolios. He sold Heine Securities in 1996 to Franklin Resources for $670 million. Now, Price manages the private firm, MFP Investors, with $1.6 billion under management, much of it his own money.

Investing Philosophy

Price has a value based approach to investing. He buys stock in out-of-favor small cap companies that are of good values.

Total Holding History

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Top Ranked Articles

Michael Price at Columbia: Profitable Lessons from a Great Investor

August 19, 2010

The following are my notes from Michael Price’s lecture at the Columbia business school in the spring of 2006. I thought his remarks on how he values pharmaceuticals, how he uses the newspaper to generate investment ideas and how he sizes his positions were noteworthy. He pays great attention to publicly disclosed data in acquisitions calling it a treasure trove of information for valuing companies. Read more...

Goodwill and Goodwill Impairment in Value Investing

January 9, 2012

Warren Buffett has said that accounting was the language of the business, and in order to understand how a business is operating, investors should understand accounting and its flaws so that they can give proper judgment on the real performance of certain businesses. The number representation is just one thing, but what is really going on behind the numbers, is very crucial. Read more...

Gramercy Capital (GKK): A Graham Stock Wrapped in a Mystery

May 28, 2011

The investment analysis below is our twelfth in our series of guest posts, and is brought to you by friend of the blog PlanMaestro of the fantastic Variant Perceptions. We will keep the intro quick but safe to say we are honored to bring our readers Plan’s latest write-up on Gramercy Capital (GKK), which is as insightful and illuminating as we have come to expect from one of our favorite investors. In typical PlanMaestro fashion, we have decided to post the thesis in three parts, the first of which is below. Enjoy! Read more...

Michael Price Says Goldman Sachs Is ‘Great’ Value Stock

May 7, 2011

May 3 (Bloomberg) -- Michael Price, president of MFP Investors LLC, talks about the state of the financial markets and factors driving corporate mergers and acquisitions, his investment strategy and some of his holdings, and concerns about food inflation. Price speaks with Tom Keene on Bloomberg Television's "Surveillance Midday." Read more...

Will Tyco End Up Like ITT? Reviewing a Break-up

March 19, 2012

It’s now been four and a half months since ITT (ITT) broke itself up into three separate companies. I advocated investing in ITT before the break-up, and I wanted to review the position and see if it met my expectations. It’s also worthwhile to review this investing style since Tyco (TYC) is also doing a three way break-up by the end of the year. Read more...

» More Michael Price Articles

Commentaries and Stories

Currently 3.86/5

Rating: 3.9/5 (7 votes)

BSX and ABMD Highlight Increased Insider Buying in the Medical Technology Sector

May 14, 2013

In the past week we saw an increase in insider buying coming from the health care industry. Last week GuruFocus reported 31 different insider buys coming from 19 different health care-based companies. These buys spanned across the sector from research and development labs to pharmaceutical companies. The following four companies are all a part of the medical supply sector of the health care industry. They represent significant insider buys coming from one or more directors or corporate executives. More...

Currently 4.50/5

Rating: 4.5/5 (2 votes)

From Rags to Real Estate, Trinity Place Emerges - Michael Price Buys Big

April 18, 2013

Once again Guru Michael Price, founder of MFP Investments LLC, has timed his buy to cash in on the completion of a company’s major transformation, according to GuruFocus Real Time Picks. More...

REAL ESTATE, INTELLECTUAL PROPERTY

Currently 5.00/5

Rating: 5.0/5 (1 vote)

Michael Price - Buys FSGI as Bank Completes Recapitalization

April 16, 2013

As of April 11, 2013, Guru Michael Price, founder and manager of MFP Investors LLC, bought 6,080,000 shares of a new holding, First Security Group (FSGI), at an average price of $2.45. The current share price is $2.46, with a 0% change from average. FSGI stock is up 12% over the last 12 months. The P/E ratio is 21.9, the P/B is 2.8 and the P/S is 0.8139. More...

SAVINGS & COOPERATIVE BANKS

Currently 3.61/5

Rating: 3.6/5 (23 votes)

Hewlett-Packard Is a Value Trap

November 8, 2012

In a recent article on value stock and value traps, I highlighted five characteristics of value traps from a presentation by legendary short-seller Jim Chanos. More...

SHORT, HPQ, VALUE TRAP

Currently 4.18/5

Rating: 4.2/5 (11 votes)

Will Tyco End Up Like ITT? Reviewing a Break-up

March 19, 2012

JOEL GREENBLATT, STEVEN COHEN, JEREMY GRANTHAM, JEAN-MARIE EVEILLARD, MICHAEL PRICE, JAMES BARROW, WALLACE WEITZ

Currently 4.52/5

Rating: 4.5/5 (31 votes)

Goodwill and Goodwill Impairment in Value Investing

January 9, 2012

Currently 3.47/5

Rating: 3.5/5 (15 votes)

Billionaire Value Investor Michael Price's MFP Top Conviction Picks: JNS, LNCR, PFE, NLC, JCP

November 25, 2011

Michael F. Price was born in 1953 in New York. He graduated in 1973 from the University of Oklahoma with a Bachelors degree in Business Administration. Price has become one of America’s most successful value investors. He sees an opportunity in a company going through financial difficulties and provides it with much needed cash by buying it’s stock at substantial discount to its true value, allowing it time to overcome it’s problems. His commonsensical approach to investing has enabled him to generate lofty returns over the years. More...

PRICE, MICHAEL PRICE

Currently 0.00/5

Rating: 0.0/5 (0 votes)

Currently 4.13/5

Rating: 4.1/5 (8 votes)

Stocks You Can Buy Cheaper Than Michael Price, John Griffin and Lee Ainslie

November 23, 2011

All hedge funds managers make mistakes. Even the best value managers could be prone to errors in valuation or could ignore big trends that could make their positions suffer big losses. More...

LEE AINSLIE, JOHN GRIFFIN, MICHAEL PRICE

Currently 3.70/5

Rating: 3.7/5 (10 votes)

Portfolio Concentration: Integral Part of the Value Investment Philosophy of Many Gurus

August 29, 2011

One of the most difficult aspects of value investing is finding a particular investment philosophy and sticking to it for the long run. One of the inherent problems with using a long-term value investing strategy is the inability to evaluate the effectiveness of the strategy over shorter periods of time. Rather, an investor must rely on the assumption the strategy will be successful over long periods of time, even when the performance of the strategy has been lackluster in the short term. Thus, in order for a value approach to be successful, one must have the discipline and full commitment to the approach. However, it’s difficult to commit to any approach for the long-term when there is uncertainty surrounding the effectiveness of the approach. More...

Currently 4.12/5

Rating: 4.1/5 (26 votes)

Gramercy Capital (GKK): A Graham Stock Wrapped in a Mystery

May 28, 2011

Currently 3.38/5

Rating: 3.4/5 (13 votes)

The Winning Stock Idea from the Ira Sohn Conference

May 25, 2011

This year the first Ira Sohn Investment Contest took place at the Ira Sohn Convention. Here are some details: More...

Currently 3.22/5

Rating: 3.2/5 (9 votes)

Ira Sohn Conference: Michael Price on Goldman and Other Banking Stocks

May 25, 2011

Michael F. Price is the president and managing partner at MFP Investors LLC. He is the president of The Price Family Foundation Inc. Price was the chief executive officer, president, and chairman at Franklin Mutual Advisers from 1986 until Nov. 1, 1998. He is a member of the Johns Hopkins Berman Institute of Bioethics. Price also serves on various boards of the Albert Einstein College of Medicine, University of Oklahoma Foundation, Johns Hopkins and Jazz at Lincoln Center. He is a Director of Liquidnet Holdings. In 1999, the University of Oklahoma honored him with a doctor of humane letter. Price earned his Bachelor of Arts/Science in 1973 from the University of Oklahoma. More...

MICHAEL PRICE

Currently 2.69/5

Rating: 2.7/5 (13 votes)

Billionaire Value Investor Michael Price Q1 Portfolio Update

May 15, 2011

This is the portfolio chart of Michael Price. You can click on the legend of the chart to show/hide buys, sells or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position. More...

Currently 4.54/5

Rating: 4.5/5 (13 votes)

Michael Price Says Goldman Sachs Is ‘Great’ Value Stock

May 7, 2011

MICHAEL PRICE

Currently 4.80/5

Rating: 4.8/5 (5 votes)

Spring 2011 Issue of Graham and Doddsville

May 7, 2011

The Spring 2011 issue of Graham and Doddsville is now available. Featured interviews include investors Michael Price and Paul Johnson. More...

MICHAEL PRICE

Currently 3.86/5

Rating: 3.9/5 (7 votes)

Currently 2.00/5

Rating: 2.0/5 (12 votes)

Michael Price Buys CHUX, HTBK, MFE, PAY, Sells PEP, CIT, ATX, CF

November 14, 2010

This is the Q3 portfolio update for billionaire investor Michael Price. Michael Price likes to invest in small cap companies. If you are looking for bargains in small cap, you should look at his portfolio. More...

Currently 4.43/5

Rating: 4.4/5 (7 votes)

Michael Price’s Value-Cubs Like Berkshire Hathaway and Bank of America

October 5, 2010

Briget B. Hughes of Morningstar.com has written an article which tracks down the investment careers of Michael Price and his protégés at Mutual Series. A little background: It's been almost 10 years since famed value investor Michael Price left his chairman post at Mutual Series, five years after selling it to Franklin Templeton in late 1996. And it has been even longer since he stepped down from his day-to-day portfolio-management duties. But his influence remains strong. Since his departure, portfolio managers and analysts he trained and worked with have become prominent in their own right. They have followed different paths, albeit many along the same general investment road. More...

Value Investing