Michael Price

Last Update: 2014-08-18

Number of Stocks: 89
Number of New Stocks: 12

Total Value: $816 Mil
Q/Q Turnover: 10%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

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

Top Ranked Articles

Michael Price at Columbia: Profitable Lessons from a Great Investor
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
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
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 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
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 4.00/5

Rating: 4.0/5 (2 votes)

Michael Price’s Top Sells – 11 Gurus Exit SFD
Guru Michael Price is averaging a 12-month return of 72.41%. As of the third quarter, his private firm, MFP Investors, has a portfolio of 88 stocks, 5 of them new, a total value at $752 million, with a quarter-over-quarter turnover of 8%. The portfolio is currently weighted with top three sectors: financial services at 33.3%, healthcare at 13% and energy at 12.4%. More...

PACKAGED FOODS, PUBLISHING, BIOTECHNOLOGY


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Rating: 3.0/5 (2 votes)

Bargain Hunting with Phenom Michael Price for 52-Week Lows
Guru Michael Price of MFP Investors LLC is a self-made investing phenom averaging a 12-month return of 84.84%. Over 12 months, Price is the fourth highest returning guru, following John Paulson at 296.45%, Michael Dell at 270.13% and Robert Karr at 89.84%. More...

DRUG MANUFACTURERS – SPECIALTY & GENERIC, BANKS – REGIONAL – US, HOME FURNISHING & FIXTURES


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Rating: 1.0/5 (2 votes)

Contrarian Ideas You May Want to Take a Look At
Here I take a look at two stocks that analysts from different investment firms have been downgrading since the year started. I believe there exists a long case for both of these companies. Their future could be brighter than what the market seems to be expecting and, hence, deserve a second look. Investors such as John Burbank and Michael Price are already long! More...

CONTRARIAN IDEAS


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Rating: 3.6/5 (5 votes)

More Billionaire Bargains, 29% Off Joel Greenblatt,Michael Price - More Billionaire Bargains, 29% Off
Today the GuruFocus Guru Bargains feature reveals four more stocks that are 29% or more off since a number of billionaires bought them. Consider the possible advantage of following in the footsteps of billionaire gurus who’ve already invested in these stocks. Billionaire buys can indicate a probability that these stocks may be bargain finds. More...

OIL & GAS – REFINING AND MARKETING, SAVINGS & COOPERATIVE BANKS, SPECIALTY RETAIL, HOUSEHOLD & PERSONAL PRODUCTS


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Rating: 1.5/5 (4 votes)

Michael Price’s Top Six Sells
Renowned value investor and money manager, Michael F. Price is one of the richest people in the world, with a net worth of 1.3 billion as of March 2013, according to Forbes. Price manages his own personal wealth through his private firm, MFP Investors LLC, with around $1.6 billion under management. The updated portfolio of MFP Investors has 92 stocks, 10 of them new, a total value at $747 million, with a quarter-over-quarter turnover of 13%. The portfolio of MFP Investors is currently weighted with top three sectors: financial services at 33.8%, healthcare at 14.4% and consumer cyclical at 13.3%. More...

BANKS – GLOBAL, DEPARTMENT STORES, CONGLOMERATES, DRUG MANUFACTURERS – MAJOR, CAPITAL MARKETS, INSURANCE - REINSURANCE


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Rating: 3.0/5 (2 votes)

Weekly CEO Buys Highlight: AMH, HTH, ARCP, KYN, HK
According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below: More...

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Rating: 2.4/5 (10 votes)

Scoreboard of Gurus – Highest Gain Investors and Six Stocks
The last six months have been an exciting time for the highest-gaining Gurus Jean-Marie Eveillard, Michael Price, Robert Karr and David Nierenberg. According to the GuruFocus Score Board of Gurus, their performance is as follows: More...

COMMUNICATION EQUIPMENT, COMMUNICATION SERVICES, EDUCATION, RESTAURANTS, HOUSEHOLD & PERSONAL PRODUCTS, INTERNET CONTENT & INFORMATION


  • Currently 3.00/5

Rating: 3.0/5 (6 votes)

Michael Price - A Penchant for Hard-Hit Banks
Breaking up is hard to do, especially for global banks. Last summer when major bank stocks were below tangible book value, Michael Price of MFP Investors told Bloomberg, “That means the pieces are worth more than the whole.” At the end of May 2013, Moody's upgraded the U.S. banking system from “negative,” where it had sat for five years, to “stable.” However, smaller, distressed banks with ailing loan portfolios are merging for survival and creating opportunities for billionaire investors like Michael Price, whose trading shows a penchant for hard-hit banks. More...

BANKS – REGIONAL – US, SEMICONDUCTORS, OIL & GAS - INTEGRATED, SAVINGS & COOPERATIVE BANKS


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Rating: 3.2/5 (9 votes)

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

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Rating: 3.3/5 (3 votes)

From Rags to Real Estate, Trinity Place Emerges - Michael Price Buys Big
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 2.67/5

Rating: 2.7/5 (6 votes)

Michael Price - Buys FSGI as Bank Completes Recapitalization
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


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Rating: 3.5/5 (24 votes)

Hewlett-Packard Is a Value Trap
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


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Rating: 3.8/5 (16 votes)

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

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


  • Currently 4.38/5

Rating: 4.4/5 (34 votes)

Goodwill and Goodwill Impairment in Value Investing
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. More...

  • Currently 3.65/5

Rating: 3.6/5 (17 votes)

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


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Rating: 3.6/5 (10 votes)

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

  • Currently 3.36/5

Rating: 3.4/5 (14 votes)

The Winning Stock Idea from the Ira Sohn Conference
This year the first Ira Sohn Investment Contest took place at the Ira Sohn Convention. Here are some details: More...

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