The Long View Amit Wadhwaney: ’Buying Cheap Has a Number of Attractions’
22 snips
May 5, 2026 
Amit Wadhwaney, portfolio manager and co-founder of Moerus Capital with 30+ years in deep-value investing. He discusses why survivability matters more than macro forecasts. He explains how trouble creates extreme bargains. He covers value-accretive corporate actions and investing in resource-linked businesses without betting on commodity prices.
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Minimize Macro Forecasting And Prioritize Survivability
- Avoid macro forecasting; minimize bets on the macroeconomy and focus on company survivability instead.
- Buy companies cheaply with strong capitalization so they can survive rate, inflation, or market shocks over multi-year holds.
Buy Below Cash Buyer Replacement Value
- Buy businesses priced below what a knowledgeable cash buyer would pay to operate or replicate them.
- Seek a margin of safety where price is less than the going-concern replacement or cash-buyer value.
Firm Name Reflects A Focus On Survivability
- Name and strategy reflect obsession with risk aversion and survivability, not fashionable breadth.
- Moerus (from Latin for defensive walls) signals focus on buying cheap, durable businesses for long-term holds.
